Bungalow of thoughts: Mannat

first_imgWhat is it that we human love confused me much as I stand in front of Mannat the home to the king of Bollywood, overlooking the beautiful view of the Arabian sea just a few metres away, trying my best to ignore the slum in between the palace and the sea. We love stories of people narrating their struggles with poverty and hardships in life, but very few visit slums and remote villages. They are best heard or read. On the other hand, we have hundreds of flocking houses and monuments of the riches and famous every day.Shahrukh Khan is known as “King of Romance” and has been an idol for many of my generation. I must confess I too was once. I first fell in love with his film ‘Kuch Kuch Hota Hai’, which was a super hit across the country including my village where friends would hum the hit songs ‘koi mil gaya’ and ‘kuch kuch hota hai’. I liked ‘Chalte Chalte’ too, though it was not received well at the Box Office. There were series of film thereafter like Kal hona ho, Kabhi khusi kabhi gam starring Shah Rukh, forcing one to eventually recognize and appreciate his works. At one point I thought Bollywood was all about the association of Shahrukh and Karan Johar and their series of films starting with K.Not just me, most kids in the 90s will have some sort of connection to films or songs of the Badshah. As for me, every time I listen to the song “kuch kuch hota hai”, I remember my high school friends. It is in fact Shah Rukh Khan and KKHH which made me a fan of Bollywood. I can now say I’ve watched most hit Bollywood movies of most actors, though I must admit I now admire the works of few others more than the Badshah’s.Still, I for one never imagined that I could be swayed into joining the group of hero-worshipping people who’d visit Mannat though knowing very well that the King would not be home. In fact, I didn’t even took my relatives, my brother and sister in law who recently paid a visit to me, though I was sure they’d be interested. But I am just a human. Even certain things which don’t excite me attract my curiosity, just to see if there actually is something worth to look out for. In most occasions, I’d be disappointed. Like when I tasted salmon reluctantly, but for its attractive images of resembling the most exotic delicacy, frequently shown in ads and TV shows, enough to induce a craving which some people very close to me find it impossible to stay away from.Mannat does not disappoint me because in front of the bungalow, just across the narrow road, is an open space where my kids played their hearts out and the breezing winds from the sea gave me enthralling moments to think about life. I began to think about the life of Shahrukh and how he became the Badshah from just a normal bacha looking for a livelihood. It is his motivating story, of overcoming many hardships and finally reaping its fruits that inspired many people to follow him and visit his residence even when he is not physically present there. In fact, a selfie in front of his gate suffices all for many. Antilla is not far away from Mannat and being the most expensive individual residence in the world, has people expectedly visiting the place. But Mannat does not offer any visual experience to the visitors. However, more people thronged the latter. People, I feel, find the story of Sharukh relatable enough and it is that thought which exist in the heart, not the head, of everyone that, Mannat symbolises a living witness of an accomplished dream of the average man, the epitome of hope, which made hundreds of fans worship not just the King but even the palace. Maybe I am one among those people. I realised people love the rich and famous as well as the poor and needy but given a choice most people would choose the former to visit, with varying reasons behind. After all we are not in Jannat. Mannat displays the reality of what dreams can actually be achieved. Otherwise, I was just visiting a gate with a Board which has “MANNAT. LANDs END” written on it.last_img read more

Germany Jumps Ahead on Team Leaderboard

first_img Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition! We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. More from Horse Sport:Christilot Boylen Retires From Team SportAfter an exemplary career as one of Canada’s top Dressage riders, seven-time Olympian Christilot Boylen has announced her retirement from team competition.2020 Royal Agricultural Winter Fair CancelledFor only the second time in its history, The Royal Agricultural Winter Fair has been cancelled but plans are being made for some virtual competitions.Royal Agricultural Winter Fair Statement on 2020 EventAs the Province of Ontario starts to reopen, The Royal’s Board and staff will adhere to all recommendations put forward by government and health officials.Government Financial Assistance for Ontario FarmersOntario Equestrian has recently released this update of several financial assistance packages available, including those for farm business. Email* Horse Sport Enews As the American team lost their grip on pole position, Germany snatched the lead in the Jumping Championship at the Alltech FEI World Equestrian Games™ in Kentucky, USA today.  And, lying fifth overnight, the Kingdom of Saudi Arabia’s Khaled Al Eid rocketed to the top of the individual leaderboard when all those ahead of him faltered.  The 41 year old Saudi rider added just a single time penalty to his tally in an otherwise flawless performance from his stallion, Presley Boy, but the 2000 Olympic bronze medallist has his tutor, Brazil’s Rodrigo Pessoa, breathing down his neck going into tomorrow’s next Championship leg.  It’s going to be a hard-fought battle for the 2010 individual title, with only a fence dividing the top 13 riders heading into the third day of competition.Brazil lies second in the team standings, less than a fence behind the leading Germans, while only fractions further in arrears in third, the host nation holds a narrow advantage over Canada, with France and Saudi Arabia in fifth and sixth places.  Perhaps not the biggest surprise of the day was the success of the strong Australian foursome who produced two of just 17 clear rounds to move up from 14th to seventh position. Belgium lies eighth, Sweden ninth and Great Britain holds tenth spot, and only the top ten teams from today’s competition go through to tomorrow evening’s second round team medal decider.TRICKY TESTConrad Homfeld set them another fascinating test today.  The problems were widespread, with the narrow 1.60m vertical at four claiming plenty of victims as did the following treble.  The open water at fence seven was particularly problematic.  “That jump can be a heart-breaker” admitted Homfeld.  “It was bigger today than yesterday so that may account for some of the activity, but I have no real explanation for why it created so many problems” he added.He explained his plan for today’s 13-fence course.  “It is a ‘narrowing down’ process, devised to reduce the field by increasing the degree of difficulty – trying to do that while taking into consideration the calibre of the horses and riders we have here” Homfeld explained, and US Chef d’Equipe George Morris congratulated him on his work.  “It’s very difficult to build for horses and riders at so many different levels – the quantity and the quality – Conrad did a great job and I’m proud of him” Morris said.  The biggest heart-breaker of all however turned out to be the line that included the oxer at 11 and the double at fence 12.  A short five, or long four strides would cover the distance between the two, but inside the double was very tight and, time and again, riders fell foul of it.  And often, having already struggled there, they also often faulted at the final oxer at fence 13.SPECTACULAR CLEARIt was the first element of the double at 12 that added four faults to Janne-Friederike Meyer’s scoresheet, but second-line German rider Carsten-Otto Nagel steered his lovely mare Corradina to a spectacular clear.  When Meredith Michaels-Beerbaum’s Checkmate put a foot in the water and also lowered the final fence the Germans looked more vulnerable, but Marcus Ehning rounded up the team effort with just a single mistake from Plot Blue and, as it turned out, that was still good enough to move his country into pole position.The Americans lost their grip when Lauren Hough (Quick Study) collected five faults, Mario Deslauriers (Urico) had two fences down, Laura Kraut (Cedric) fell victim to the middle element of the triple combination at five and McLain Ward (Sapphire) hit the oxer at fence nine.  These results also seriously affected the individual leaderboard, Deslaurier’s double-error sending him plummeting from first to 22nd, and Ward’s single mistake relegating him from runner-up spot to ninth.  Lying overnight third, Hungary’s Sandor Szasz (Moosbachhofs Goldwing) dropped right down to 55th place when collecting 12 faults, and eight faults demoted fourth-placed Venezuelan Pablo Barrios (G&C Lagran) to 30th.  There is a very new look to the top end of the individual scoreboard going into tomorrow’s competition.SIMILARLY IMPRESSIVERodrigo Pessoa, whose clear with HH Rebozo helped raise Brazil from seventh to second when added to a similarly impressive run from Alvaro Miranda and AD Ashleigh Drossel Dan, is lying individually second ahead of Belgium’s Philippe Le Jeune (Vigo d’Arsouilles) in third while Germany’s Carsten-Otto Nagel (Corradina) lies fourth ahead of Australia’s Edwina Alexander (Cevo Itot du Chateau) in fifth.  In that memorable Final Four World Championship finale at Aachen four years ago, it was Alexander who lost out in the battle for the medals – so this is a lady with a score to settle, and she is lurking dangerously at the sharp end once again.But she is followed by reigning Olympic champion Eric Lamaze whose stallion, Hickstead, put on an exhibition of superb jumping again today.  The fact that fellow-Canadian John Pearce (Chianto) is next in line helped boost Canada’s position, along with the disappearance of the defending champions from the reckoning.  The Netherlands team added 24 faults to their scoreline today, and that was altogether too expensive, dropping them right down from fourth to 15th place.CHANCESGerman team member Marcus Ehning, who is lying in 26th place, was this evening asked what he thought of his chances of getting into an individual medal position and said “I don’t know yet, for now I’m focused on the team competition tomorrow and on trying, if possible, to get into the top-25 on Friday.  Then we will see.  There are so many good horses and good riders fighting for the medals here” he added.Pessoa, who climbed into team and individual silver medal position today, talked about his stallion HH Rebozo whose clear round was greeted by a roar of approval from the crowd.  “I have him since February, he’s a 10 year old and he’s Mexican-bred.  This year he had good third-placings in Torino and Rome (ITA), and he was fifth in the Queen Elizabeth at Calgary (CAN).  He’s a very straight-forward horse and he’s in good shape, but the week is very long.  We’ve only done two rounds so far and it’s a long way to the final” he pointed out.  He talked about the Brazilian side.  “The team are totally based in Europe but we don’t do Nations Cups because we only have four riders.  We have done our preparation separately but we got together two weeks ago for two days and it has worked out good for us.  But look at the results sheet – there are seven teams with just one rail between them right now.  Tonight you could be first, second or third and by tomorrow you could be seventh, eighth or ninth. We need to maintain our position, we have experienced riders and good horses – we will be giving it our best, doing our utmost” he pointed out.SESSIONSDue to the extraordinary number of entries for the Jumping World Championships presented by Rolex at the Alltech FEI World Equestrian Games™, tomorrow’s Jumping Team Final (second round of the team competition), which also serves as a qualification for the Individual Final, has been split into two sessions.  An afternoon session, running from 1 to 5pm, is open to all team members whose teams have not qualified for the second round of the team competition, and to individual riders not starting in the evening session.  All riders in this session start in reverse order of their individual classification.An evening session begins at 7.20pm and is open to 15 individual riders (taken from individual riders and team members whose teams have not qualified for the second round of the team competition), and to the top ten teams.  In this session, the 15 individuals start before the top ten teams in the reverse order of their individual classification.  The top ten teams start in the reverse order of their team classification.Facts and Figures:The 27 nations competing in the Jumping Championship at the Alltech FEI World Equestrian Games™ is a record for a World Championship.  However there were more riders in the Table C (Speed class) in Aachen 2006 – 126 compared to 121 here in Kentucky.This is the first time for the Republic of South Africa to compete in the FEI World Equestrian Games™The defending champions from The Netherlands failed to make it into tomorrow’s top-ten medal-deciding second round of the team competition.  The Dutch team finished 15th today.Quotes:US Chef d’Equipe George Morris, when asked what advice he will give his riders ahead of tomorrow’s competition “to focus on their plan, and stay inside that”.Brazil’s Rodrigo Pessoa, talking about the leading rider in the individual standings Saudi Arabia’s Khaled Al Eid who he trains.  “Everyone remembers him from Sydney (Olympic Games 2000).  He is an unbelievable rider with a lot of feeling and he’s a very tough competitor.  He has jumped two beautiful rounds and he is a serious competitor – he’s ready to go all the way”Course designer Conrad Homfeld – “there will be no water jump tomorrow”.Rodrigo Pessoa, when Conrad Homfeld said he would make some adjustments to today’s track for tomorrow’s competition – “make it one hole down then, not bigger for tomorrow!”George Morris talking about the performance of the US riders today – “I don’t think yesterday affected horses and riders for today’s course, we were victim of a couple of mistakes and a couple of light rubs – that’s show jumping”.ALLTECH FEI WORLD EQUESTRIAN GAMES™JUMPING, SECOND INDIVIDUAL QUALIFIER AND TEAM ROUND 1Team:1. Germany 17.802. Brazil 18.493. USA18.694. Canada 18.935. France 20.326. Kingdom of Saudi Arabia 21.487. Australia 21.878. Belgium 22.709. Sweden 23.1810. Great Britain 23.8011. Spain 29.2812. Ireland 30.5413. Switzerland 30.8514. Japan 32.2615. Netherlands 35.3316. Ukraine 37.9017. Mexico 43.1318. Italy 44.5919. South Africa 51.2420. Venezuela 56.2421. New Zealand 63.3622. Turkey 63.3723. Poland 64.3624. United Arab Emirates 86.8625. Hungary Elim26. Qatar Elim27. Argentina ElimIndividual:1. Presley Boy (Khaled Al Eid) KSA 2.202. HH Rebozo (Rodrigo Pessoa) BRA 2.803. Vigo D’Arsouilles (Philippe Le Jeune) BEL 3.114. Corradina (Carsten-Otto Nagel) GER 3.245. Cevo Itot du Chateau (Edwina Alexander) AUS 3.386. Hickstead (Eric Lamaze) CAN 3.397. Chianto (John Pearce) CAN 3.708. Talan (Robert Smith) GBR 3.949. Sapphire (McLain Ward) USA 4.2710. AD Ashleigh Drossel Dan (Alvaro Miranda) BRA 4.85 SIGN UP last_img read more

RED CARDS, RED CHEEKS: What’s your problem, Talant?

first_imgArti 26. May 2014. at 19:13 JK 27. May 2014. at 18:32 Oilers are pussies KIELCE destroyed you AGAIN! Kielce is a club where the fans do not have honor. You can take the name throw away from the hall and they will still be as lambs. All of Poland is laughing with their fans. True fans are in Plock and the club to pride Polish handball. For Kielce can only be ashamed. 31 Comments I do not like Wisła, but I admit that Talant This is the second time the coach hits the other team. Is not it dangerous?Federal authorities should suspend him. Shame. fan 27. May 2014. at 17:03 Dante 29. May 2014. at 15:10 new video:https://www.youtube.com/watch?v=FAze9FXK5lY cry Plock cry 27. May 2014. at 16:45 Julen_Fan 26. May 2014. at 18:53 Talant-absolute shame.This is not normaly! Two months-two incidents.Gudmundurr and Manolo are the victims. Who’s next? This is another prank Talant, according to me should draw conclusions. This man should be punished because it works to the disadvantage of our sport. Another blow below the belt. Azbest 26. May 2014. at 21:15 Iker 26. May 2014. at 18:48 CK attention 27. May 2014. at 12:11 Quinie 26. May 2014. at 16:36 To all Płock fans: toczę dużego, śmierdzącego pistacjowego Klocka w gardło płockiego powiatowca… Plock can not lose with honor. They always cry, but they know who is the best in Poland. Shame Talant, Shame !!!http://www.youtube.com/watch?v=CkZzea4Xzks Shame Manolo Mariusz Jurkiewicz going to Kielce! Talant is realy dangerous for people, mayby one year ban again for him will learn somethink? Talant has some mental problems definitely. I think he should go to a shrink asap. He should also be suspended for half a year at least. Polish Handball Union should take a respective & immediate measures in order to prevent from such a shameful behaviour that was presented by Talant. … 27. May 2014. at 07:20 CK to the game 27. May 2014. at 09:42 hbl 26. May 2014. at 21:28 Handball Fan 27. May 2014. at 08:11 Talant ballbreaker – Talant hit in the crotch Manolo Cadenas. ShareTweetShareShareEmailCommentsPolish Play Final between Vive Targi Kielce and Orlen Wisla Plock was full of emotions as always, with the “same” winner at the end, but after the fourth match in series, it looks like that some handball “persons” lost their dignity. Both coaches, Talant Dujshebaev and Manolo Cadenas have got the red cards at the very beginning – the third minute of the match. World record or not, that isn’t important for the Polish handball community. More of that is important that two big names of our world was “one of one” on the court – shameful, incredible…Poland and Europe have seen more interesting seasons and matches between two Polish teams in the recent years, but we didn’t saw that bunch of negative energy between Bogdan Wenta and Lars Walther. Two famous coaches allow themselves to degrade their careers and status which they built through the years. They didn’t come because of “street fight” qualities to Poland. They are in Kielce and Plock to raise that teams to the TOP of European handball.Talant Dujshebaev has obviously some problems in behaviour during last few years. Only two months ago, Dujshebaev had “overreaction” after match against Rhein Neckar Lowen with Icelander, Gudmundur Gudmundsson. He blamed “Lions” coach that he showed “that” between his legs. He tried to “catch” him after the match, and, as we saw on Sunday, Cadenas had the same problem to “save” the honour of every man…During the “clash on the court”, Dujshebaev ran to his colleague and try to resume “battle” which began by Cadenas some moments earlier. Both of them were excluded from the match after the contact…It’s not the first time that Dujshebaev can’t control himself. He has also “warm” head in Cologne 2012 after defeat in the CL final of his BM Atletico Madrid against Kiel. Who is next and where is the problem? Talant has whole summer break to think about it…Veselin Vujovic was punished with a year suspension in domestic competition after Macedonian Play-Off Final last year. He had to left RK Vardar Skopje at the beginning of the season with the trophy and EHF CL visa which he won.Talant deserved to get some sanction, Manolo also. It will be helpful for both…https://www.youtube.com/watch?v=CkZzea4Xzkssource: echodnia.eu Fred 26. May 2014. at 15:10 Shame Talant. This is sick coach. Kazirro 26. May 2014. at 21:41 Manolo to pajaccenter_img Kielce 27. May 2014. at 18:05 Fuck kielce Fuck!! jack the oiler 26. May 2014. at 21:38 quick 26. May 2014. at 22:12 kwidzyn 26. May 2014. at 16:17 Arti 26. May 2014. at 19:02 ludzie teraz to zobaczylem dokładnie, 43s, ten przygłup biegnie prosto do Magika i z nienacka wali go w jaja, to jakis psychol, szkoda że bardziej nie widać….. Arti 26. May 2014. at 19:06 prf 26. May 2014. at 21:05 talant did the same thing both with gudmundur and manolo. He is absolutely mad. and the polish ZPRP (Polish handball union) didin’t do anything with this situation. Shame for talant and Polish union either. Obiective 26. May 2014. at 22:07 champion 27. May 2014. at 16:49 Zgred 26. May 2014. at 18:05 ShareTweetShareShareEmail I agree punish them. Holy war is possible to do without putting the game in discredit . Talant likes older trainers and his balls! Watch out for this ‘wild boy’. Shame on you! JK 100% Jak wam nie wstyd powiatowcy z Płocka wylewać żale na obcym podwórku. Do budy psy i spać>> 31 Comments Shame Manolo Te konsultant hbl, co ci się moje wpisy nie podobają ?Wal sie ode mnie praw(n)iczku i niedoszła gwiazdo handballa. Plock cry cry… Champion is the only one and you know it ! xD Dante 26. May 2014. at 19:23 darek73 27. May 2014. at 14:02 handball 27. May 2014. at 17:22 Złoty Bogdan 26. May 2014. at 20:05 Talant is a idiotic fighter and he proved it in match in RNL and in WP. Talant isn’t couch he is fighter… First, Cadenas went to the Kielce zone and provoked them. Cadenas hit Talant first, but you can not see it on this video (only broadcast on TV – Polsat Sport). Cadenas got a red card. Cadenas was not a saint. Atléti 27. May 2014. at 17:24 Related Items: There is a problem in Polish League. Referees always allow Vive coaches and players to do more than in other clubs. The league and Kielce has the same sponsor. In every match Wisla has minimum twice more penalties than Kielce. Abroad players don’t belive what is going on here. In Polish Cup Vive win by 1 goal in last second after 5steps with ball by Jurecki. It is really big shame. A ja powiem tyle – dużego Klocka w gardło Płocka. Shame Talant Leave a Reply Cancel replyYour email address will not be published.Comment Name Email Website Save my name, email, and website in this browser for the next time I comment.last_img read more

MEPs prepare to join climate talks

first_imgA United Nations climate change summit in Peru began on Monday (1 December) and is scheduled to conclude on 12 December. The European Union has gone to the talks with a commitment to reduce carbon emissions by 40% from 1990 levels by 2030, following a deal struck by leaders of EU member states in October.The Lima conference is an important staging-post on the way to a crucial summit in Paris next year at which it is hoped that a global emissions-reduction agreement can be signed. Climate scientists say that unless a global deal is agreed in Paris to prevent a temperature rise of more than 2˚Celsius by 2050, the planet will have passed the ‘point of no return’ in terms of avoiding catastrophic climate change.At UN climate talks in Warsaw last year, countries backed a timetable according to which they will agree a binding global regime to lower carbon emissions. But many of the details were vague, and it is these details that must be clarified in Peru. The opening phases of the Lima talks are negotiated by officials, with politicians joining in the later stages. The EU will be represented by Gian Luca Galletti, Italy’s environment minister, and Miguel Arias Cañete, the European commissioner for climate action and energy, who both go to Lima on Sunday (7 December). A 12-strong delegation of MEPs will be observing, led by Giovanni La Via (EPP). The delegation vice-president is Jo Leinen (S&D). The others are: Jerzy Buzek (EPP); Karl-Heinz Florenz (EPP); Elisabetta Gardini (EPP); Seb Dance (S&D); Kathleen Van Brempt (S&D); Ian Duncan (ECR); Gerben-Jan Gerbrandy (ALDE); Merja Kyllonen (GUE/NGL); Bas Eickhout (Greens/EFA); and Valentinas Mazuronis (EFDD). They go out tomorrow (5 December).last_img read more

Trump’s relationship with Merkel ‘fairly unbelievable,’ Spicer says

first_imgPresident Donald Trump would describe his relationship with German Chancellor Angela Merkel as “fairly unbelievable,” White House Press Secretary Sean Spicer said Tuesday, after she made comments that were widely interpreted as criticizing the White House.“I think the relationship that the president has had with Merkel he would describe as fairly unbelievable,” Spicer told reporters gathered for the first daily press briefing since Trump returned from his first trip overseas as president. “They get along very well. He has a lot respect for her.”“They continue to grow the bond that they had during their talks in the G-7,” Spicer said, referring to a summit Trump attended with world leaders last week. “And he views not just Germany but the rest of Europe as an important American ally. During his conversations at NATO and at the G-7, the president reaffirmed the need to deepen and improve our transatlantic relationship.” Merkel, whose worldview contrasts with Trump’s nationalism, made comments after the G-7 summit that were interpreted as casting doubt on the reliability of the U.S. as a partner to Europe under Trump’s leadership. She suggested that Europe needed to “really take our fate into our own hands” and said “the times in which we could rely fully on others — they are somewhat over.”But on Tuesday, Spicer denied that the comments amounted to a slight of the White House. He said Germany wants to shoulder more responsibility on the world stage.“That’s great,” Spicer said. “That’s what the president called for. He called for additional burden-sharing. The secretary general of NATO said that the president’s calls are what’s moving them in the right direction. The president is getting results, and more countries are stepping up their burden-sharing.”“That is a good thing for them, it’s a good thing for NATO, and it’s a good thing for America,” Spicer said. Also On POLITICO Europe at Large Merkel’s thunderbolt is starting gun for European defense drive By Paul Taylor Trump: Our relationship with Germany is ‘very bad for US’ By Louis Nelsonlast_img read more

Apple of My Eye! Richard H. Blake to Star as Tommy DeVito in Broadway’s Jersey Boys

first_img from $59.00 Broadway vet Richard H. Blake is working his way back to the Great White Way! Blake will assume the role of original Four Seasons member Tommy DeVito in the Broadway company of Jersey Boys beginning January 9, 2014. Jersey Boys tour member John Gardiner will join the cast as Tommy DeVito from December 3 through January 8. Blake and Gardiner are taking over for upcoming Rocky headliner Andy Karl, who will play his final performance on December 1 at the August Wilson Theatre.Blake’s Broadway credits include Matilda, Legally Blonde, The Wedding Singer, Wicked, Hairspray, Aida, Saturday Night Fever and Rent. In addition to Jersey Boys, Gardiner also appeared as Timon in the national tour of The Lion King.The Tony-winning musical Jersey Boys tells the story of how Frankie Valli and The Four Seasons went from being unknown New Jersey kids to international pop superstars. Each member of the band recounts his own section (or season): spring (Tommy DeVito), summer (Bob Gaudio), fall (Nick Massi) and winter (Frankie Valli). The show features over 30 hit songs, including “Sherry,” “Big Girls Don’t Cry” and “Can’t Take My Eyes Off You.”In addition to Karl, the current Broadway cast stars Dominic Scaglione Jr. as Frankie Valli, Matt Bogart as Nick Massi and Broadway.com’s Hit Maker video blogger Drew Gehling as Bob Gaudio. The cast also features Peter Gregus, Mark Lotito, Miles Aubrey, Erik Bates, Candi Boyd, Cara Cooper, Jared Bradshaw, Joseph Leo Bwarie, Ken Dow, Russell Fischer, John Edwards, Katie O’Toole, Joe Payne, Mauricio Perez, Kyli Rae, Nathan Scherich and Sara Schmidt. Richard H. Blake Related Shows Jersey Boys Matt Bogart View All (4) Star Files Drew Gehling Andy Karl View Commentslast_img read more

Casella reports quarter results, revenues up

first_imgCASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESRECONCILIATION OF CERTAIN NON-GAAP MEASURES(Unaudited)(In thousands) 593 Deferred income taxes284 106,276 2016 49.2%Western region73.2% Adjusted Net Income (Loss) Attributable to Common Stockholders$10,801 Price2,277 $144,670 $35,585 $270,103 41,064 $— Operating expenses: 9.8%Recycling32,846 (363) 2016 $631,512 2016 $59,229 Depreciation and amortization15,868 $5,195 12,663 9.5% 185,606 1.7% 0.7%Solid Waste Price2,809 Three Months Ended June 30, 18,084 — 1.6%Volume1,118 1,622 2016 15,596 53.0% Other non-current assets13,612 Total current liabilities78,044 0.5% 25.5% Facilities585 (13,612) Six Months EndedJune 30, 593 Following is a reconciliation of Adjusted Net Income (Loss) Attributable to Common Stockholders to Net (loss) income attributable to common stockholders: — — $18,394 (405) Six Months Ended June 30, 64,114 Adjusted Diluted Weighted Average Common Shares Outstanding42,948 2017 2016Net cash provided by operating activities$29,333 5,422 (53,489) 44,997 Other534 $2,544 0.7%Total Recycling3,395 — 2,720 (504)Loss on debt extinguishment46 (2,439)Acquisition related additions to property, plant and equipment(176) (3) 41,698 % of SolidWasteOperations Other current assets14,202 Diluted earnings per common share$(1.28) $0.14 8.7%Total revenues$287,818 71.0% Other expense (income): (2,422)Less: Net loss attributable to noncontrolling interests— $866 1.2%Processing3,796 19,911 Change in restricted cash— — 1,165 $121,536 $24,372 (Loss) income before income taxes(53,281) Cash and cash equivalents, end of period$2,685 (0.1)% In June 2017, we initiated the plan to cease operations of our Southbridge landfill. Accordingly, in the three months ended June 30, 2017, we recorded a charge associated with the closure of our Southbridge landfill as follows: December 31,2016ASSETS(Unaudited) 41,064 Accounts receivable – trade, net of allowance for doubtful accounts65,766 (0.9)%Provision for income taxes394 20.6% 43.8% $0.12 (520)Southbridge landfill non-cash closure charge (1)63,526 Total current assets82,653 Three Months EndedJune 30, Following is a reconciliation of Adjusted EBITDA and Adjusted Operating Income to Net (loss) income: 2,493 $(0.05) $47,999 23,454 $(53,900) 545 —% Cost method investments12,333 199,060 LIABILITIES AND STOCKHOLDERS’ DEFICIT 30,255 Total assets$588,877 2016 0.4% (24,550)Total liabilities and stockholders’ deficit$588,877 Tax effect (i)316 Property, plant and equipment, net of accumulated depreciation and amortization349,345 Changes in assets and liabilities, net of effects of acquisitions and divestitures(10,382) 0.4% % ofRelatedBusiness $5,195 — 11,457 73.7%Organics20,219 Non-current assets obtained through long-term obligations$2,813 — 13,407 General and administration18,794 1,939 Three Months EndedJune 30, (2,341)Provision for income taxes394 Six Months EndedJune 30, 60.9% 517 Net (loss) income(53,675) $1,955 19,870 303 517 4,443 $0.26 Six Months EndedJune 30, Amortization of debt issuance costs and discount on long-term debt1,320 (28,306)Cash Flows from Financing Activities: (38)Additions to property, plant and equipment(24,372) $63,685 2016Diluted earnings per common share$(1.28) 7,670 0.9%Recycling Operations: Loss on debt extinguishment517 Following is a reconciliation of Free Cash Flow and Normalized Free Cash Flow to Net cash provided by operating activities: 74.3%Solid waste internalization63.7% 588 $33,861 957 1,002 Restricted assets1,065 19,870 Other income(326) 81 $5,192 71,637 (i) The aggregate tax effect of the adjustments, including any impact of deferred tax adjustments. (15,802) 8,341 Depletion of landfill operating lease obligations2,409 126,000 328,532 27.2%Power generation1,554 7,344 4 75.6% Legal and transaction costs (4)588 2.3%Total Company$9,346 — 598 (4,173) CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESSUPPLEMENTAL DATA TABLES(Unaudited)(In thousands) 1.4% 896 41,598 1.0% Proceeds from long-term borrowings117,000 3,150 0.01 $203 2016 Net cash used in financing activities(9,831) Other income(326) 1,782 72.8% June 30,2017 CURRENT ASSETS: 3,167 $15,596 Project development charge (2)9,148 2017 Intangible assets, net8,169 (1,939) 119,899 1.2%Disposal1,015 95,188 Goodwill121,700 $(0.06) Net loss$(53,900) 2017 Depreciation and amortization29,717 4,173 526 $(1,864)Diluted weighted average common shares outstanding41,811 — Free Cash Flow$11,693 32,743 12,663 (3,177) 64,114 — 64,114 — 9,148 0.3%Acquisitions, net divestitures535 Six Months EndedJune 30, $(1.29) Replacement Capital Expenditures: 2017 2016Net (loss) income$(53,675) $(2,413)Basic weighted average common shares outstanding41,811 $(2,422)Net (loss) income as a percentage of revenues(34.9)% (1,782)Adjusted Operating Income$16,835 Cost of operations102,519 7,696 Cash and cash equivalents$2,685 44.0%Disposal42,172 411 Principal payments on long-term debt(126,238) $11,049 1.53 0.9% (7,209)Net increase in cash and cash equivalents141 $— 15,802 8.4%Customer solutions14,629 Interest expense, net6,282 1.7% 545 (18.7)% $(1.29) — 17,570 — Interest accretion on landfill and environmental remediation liabilities1,939 Six Months EndedJune 30, 13,528 82,426 1.3%Solid waste operations112,171 (310)Proceeds from the exercise of share based awards858 14,848 Adjusted Diluted Earnings Per Common Share$0.25 30,255 2017 7.8%Customer solutions28,452 Three Months EndedJune 30, 2017 $18,021 % of RecyclingOperations (2,826) 4 Three Months EndedJune 30, (23,460)Payments on landfill operating lease contracts(3,177) 20.0%Depreciation and amortization(15,868) 5,192 6.5% Interest expense, net6,282 1.2%Processing36 70center_img (363) 2017 $18,021 $0.26 (3,326)Proceeds from sale of property and equipment298 $23,400 1.0%Solid waste operations206,301 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited)(In thousands, except for per share data) — 8.1% Six Months EndedJune 30, Southbridge landfill closure charge (1)64,114 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(In thousands) 9.3%Recycling16,211 2.6% — 0.02 4.1%Organics(1,166) $40,009 (2,502)Net cash provided by operating activities40,009 $(2,413)Loss on debt extinguishment46 Depreciation and amortization15,868 45.0%Disposal73,454 2017 Total Replacement Capital Expenditures14,765 Current maturities of long-term debt and capital leases$5,016 Basic earnings per common share$(1.28) Solid waste internalization rates by region for the three and six months ended June 30, 2017 and 2016 are as follows: 1.3% 41,132 — $9,756 2,312 1,132 Long-term debt and capital leases, less current maturities497,592 230 9,944 Gain on sale of property and equipment(97) 10.5% 12,333 2.1% $5,792 Components of revenue growth for the three months ended June 30, 2017 compared to the three months ended June 30, 2016 are as follows: 36,672 Supplemental Disclosure of Cash Flow Information: Dilutive effect of options and restricted / performance stock units1,137 1,460 Cash Flows from Investing Activities: $0.14 $(53,900) Three Months EndedJune 30, Amounts of total revenues attributable to services provided for the three and six months ended June 30, 2017 and 2016 are as follows: 2016Cash Flows from Operating Activities: (40,714) 382 2017 100.0% 2017 $(0.06)Loss on debt extinguishment— 2,079 Cash and cash equivalents, beginning of period2,544 Depletion of landfill operating lease obligations4,173 $(0.05) 0.01 Cash income taxes, net of refunds$189 Southbridge landfill closure charge1.52 (29,717) 1.0%Processing2,137 7.0% 26,483 — (0.8)%Customer Solutions1,222 — — $64,114 61,196 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands) $9,756 588 $2,116 % of TotalRevenue 517 3.6% Note 1:  Southbridge Landfill Closure Charge Accounts payable43,539 Interest accretion on landfill and environmental remediation liabilities974 2017 $4,686 26.5% — Landfill closure, site improvement and remediation expenditures (i)588 252,533 Loss on debt extinguishment46 $13,612 (30,255)Depletion of landfill operating lease obligations(2,409) Components of capital expenditures (ii) for the three and six months ended June 30, 2017 and 2016 are as follows: 29,717 2016 (1)We performed a test of recoverability under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360, which indicated that the carrying value of our asset group that includes the Southbridge landfill was no longer recoverable and, as a result, the asset group was assessed for impairment with an impairment charge allocated to the long-lived assets of Southbridge landfill in accordance with FASB ASC 360.(2)We wrote-off deferred costs associated with landfill permitting activities no longer deemed viable.(3)We recorded an environmental remediation charge associated with the future installation of a municipal waterline.(4)We incurred legal and other transaction costs associated with various matters as part of the Southbridge landfill closure. Operating (loss) income(47,279) 150 Casella Waste Systems Inc,Vermont Business Magazine Casella Waste Systems, Inc (NASDAQ:CWST(link is external)), a regional solid waste, recycling and resource management services company based in Rutland, on Wednesday reported its financial results for the three-month period ended June 30, 2017. In addition, the company expects its revenue, Adjusted EBITDA*, and Normalized Free Cash Flow* results to be towards the upper-end of its previously announced guidance ranges for the fiscal year ending December 31, 2017. Shares were down about 5 percent Thursday to $15.79 in early trading (52-week range: $8.75 – $17.73).Highlights for the Three Months Ended June 30, 2017:Revenues were $154.0 million for the quarter, up $9.3 million, or 6.5%, from the same period in 2016.Net loss was $(53.7) million for the quarter, as compared to net income of $5.2 million for the same period in 2016. The Company recognized a $64.1 million Southbridge landfill closure charge during the quarter.Adjusted Net Income (Loss) Attributable to Common Stockholders* was $10.8 million for the quarter, as compared to $5.8 million for the same period in 2016.Adjusted EBITDA was $36.1 million for the quarter, up $1.3 million, or 3.7%, from the same period in 2016.Operating loss was $(47.3) million for the quarter, as compared to operating income of $15.6 million for the same period in 2016.Adjusted Operating Income* was $16.8 million for the quarter, up $1.2 million, or 7.9%, from the same period in 2016.Overall solid waste pricing for the quarter was up 2.6%, driven by strong landfill pricing up 3.0% and robust residential and commercial collection pricing up 3.0%.“Our team has worked hard over the last 14 years to develop an environmentally sound disposal facility in Southbridge to serve the needs of our customers throughout Massachusetts,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “However, given the innumerable regulatory and political roadblocks we have faced over the last three years as we have worked to develop additional capacity at the site, and expect we would continue to face, we do not believe that further development at the existing landfill site will generate an adequate risk adjusted return. As such, during the second quarter we adopted a plan to close the Southbridge landfill when the current permitted airspace is fully consumed, with the site expected to close by December 31, 2018.”“We had a solid operational quarter, as we continued to execute well against our key management strategies despite several uncontrollable cost headwinds,” Casella said. “We remain focused on creating shareholder value through increasing landfill returns, improving collection profitability, creating incremental value through resource solutions, improving returns in our recycling business, and reducing leverage through strict capital discipline and debt repayment. The progress we have made on our strategies clearly drove positive financial results in the second quarter. While operating loss was $(47.3) million, reflecting the impact of the Southbridge landfill closure charge,  Adjusted Operating Income was up $1.2 million year-over-year, or up 7.9%, despite $2.2 million of higher healthcare costs and $1.0 million of higher landfill leachate costs year-over-year as we experienced an exceptionally rainy spring in the northeast.”“From an operating standpoint, our disciplined solid waste pricing programs continued to add value, driven by strong landfill pricing which was up 3.0% and robust residential and commercial pricing which was up 3.0%,” Casella said. “This strong pricing was coupled with 2.1% solid waste volume growth in the second quarter, mainly driven by 4.8% growth in landfill volumes as we continued to source new volumes in the tightening northeastern disposal markets.”“Further, our efforts to reduce operating costs and drive efficiencies continued in the second quarter, with these efforts offset by 117% higher healthcare costs year-over-year,” Casella said. “This substantial increase in our healthcare costs in the second quarter was mainly due to higher than normal large claims activity, and we believe that activity and costs should normalize to our historical averages through the remainder of the year. We have worked hard over the last three years to reduce healthcare inflation and improve our healthcare offerings to our employees. Through these efforts we have experienced roughly 1.2% per year of healthcare inflation as compared to 5 to 7% per year nationally.”For the quarter, revenues were $154.0 million, up $9.3 million, or 6.5%, from the same period in 2016, with revenue growth mainly driven by: robust collection, disposal and recycling commodity pricing; higher collection, disposal, recycling and customer solutions volumes; and the roll-over impact from acquisitions.Net loss attributable to common stockholders was $(53.7) million, or $(1.28) per diluted common share for the quarter, as compared to net income attributable to common stockholders of $5.2 million, or $0.12 per diluted common share for the same period in 2016. Adjusted Net Income Attributable to Common Stockholders was $10.8 million for the quarter, or an Adjusted Diluted Earnings Per Common Share* of $0.25 for the quarter, as compared to Adjusted Net Income Attributable to Common Stockholders of $5.8 million, or an Adjusted Diluted Earnings Per Common Share of $0.14 for the same period in 2016.Operating loss was $(47.3) million for the quarter, as compared to operating income of $15.6 million for the same period in 2016. Adjusted Operating Income was $16.8 million for the quarter, up $1.2 million from the same period in 2016. Adjusted EBITDA was $36.1 million for the quarter, up $1.3 million from the same period in 2016, with growth mainly driven by improved performance in the Company’s disposal and recycling lines-of-business.The Company decided after due consideration of all facts and circumstances before it, that it is no longer likely that further development at the existing landfill site will generate an adequate risk adjusted return at the Southbridge landfill, and that it will accordingly cease operations at the Southbridge landfill when no further capacity is available, expected by no later than December 31, 2018. Accordingly, in the three months ended June 30, 2017, it recorded a charge of $64.1 million associated with the determination that operations would cease at the Southbridge landfill, including an asset impairment charge of $48.0 million related to the asset group that includes Southbridge landfill; a project development charge of $9.1 million related to the write-off of deferred costs associated with landfill permitting activities no longer deemed viable; an environmental remediation charge of $6.4 million associated with the future installation of a municipal waterline; and a charge of $0.6 million for legal and transaction costs associated with various matters as part of the Southbridge landfill closure.Net cash provided by operating activities was $29.3 million for the quarter, as compared to $33.9 million for the same period in 2016. Net cash by operating activities was negatively impacted in the quarter by $(7.9) million of higher cash outflows associated with changes in assets and liabilities year-over-year, with the $(7.1) million of this negative variance driven by a lower interest accrual at June 30th this year as compared to last year. The lower interest accrual is associated with the timing of interest payments, combined with lower average debt balances and changes to the Company’s capitalization structure that resulted in interest expense, net decreasing $(3.7) million from the same period in 2016.Free Cash Flow* was $11.7 million for the quarter, as compared to $18.0 million for the same period in 2016. Normalized Free Cash Flow was $12.3 million for the quarter, as compared to $18.0 million for the same period in 2016.Highlights for the Six Months Ended June 30, 2017:Revenues were $287.8 million year-to-date, up $17.7 million, or 6.6%, from the same period in 2016.Net loss was $(53.9) million year-to-date, an increase in net loss of $(51.5) million, as compared to a net loss of $(2.4) million for the same period in 2016.Adjusted Net Income (Loss) Attributable to Common Stockholders was $11.0 million year-to-date, as compared to $(1.9) million for the same period in 2016.Adjusted EBITDA was $59.2 million year-to-date, up $5.2 million, or 9.6%, from the same period in 2016.Operating loss was $(40.7) million year-to-date, as compared to operating income of $17.6 million for the same period in 2016.Adjusted Operating Income was $23.4 million year-to-date, up $5.8 million, or 33.2%, from the same period in 2016.Net cash provided by operating activities was $40.0 million year-to-date, up $4.4 million from the same period in 2016.Normalized Free Cash Flow was $13.4 million year-to-date, up $3.7 million from the same period in 2016.For the six months ended June 30, 2017, revenues were $287.8 million, up $17.7 million, or 6.6%, from the same period in 2016, mainly driven by robust collection, disposal and recycling pricing; higher collection, commodity, and customer solutions volumes; and the acquisition of two hauling companies, partially offset by lower disposal and organics volumes.Net loss attributable to common stockholders was $(53.9) million, or $(1.29) per diluted common share year-to-date, as compared to $(2.4) million, or $(0.06) per diluted common share for the same period in 2016. Adjusted Net Income Attributable to Common Stockholders was $11.0 million year-to-date, or an Adjusted Diluted Earnings Per Common Share of $0.26 year-to-date, as compared to Adjusted Net Loss Attributable to Common Stockholders of $(1.9) million, or an Adjusted Diluted Earnings Per Common Share of $(0.05) for the same period in 2016.Operating loss was $(40.7) million year-to-date, as compared to operating income of $17.6 million for the same period in 2016. Adjusted Operating Income was $23.4 million year-to-date, up $5.8 million from the same period in 2016. Adjusted EBITDA was $59.2 million year-to-date, up $5.2 million from the same period in 2016.Net cash provided by operating activities was $40.0 million year-to-date, as compared to $35.6 million for the same period in 2016. Free Cash Flow was $12.8 million year-to-date, as compared to $9.8 million for the same period in 2016. Normalized Free Cash Flow was $13.4 million year-to-date, as compared to $9.8 million for the same period in 2016.OutlookGiven the Company’s strong pricing and operational performance during the first six months of the year and increased visibility into the remainder of the year, the Company indicated that it expects its revenue, Adjusted EBITDA, and Normalized Free Cash Flow results to be towards the upper-end of its previously announced guidance ranges for the fiscal year ending December 31, 2017.  The estimated ranges are as follows:Revenues between $577 million and $587 million;Adjusted EBITDA between $124 million and $128 million; andNormalized Free Cash Flow between $32 million and $36 million.The Company does not provide reconciling information of non-GAAP financial measures on a forward-looking basis because such information is not available without an unreasonable effort. The Company believes that such information is not significant to an understanding of its non-GAAP financial measures for forward-looking periods because its methodology for calculating such non-GAAP financial measures is based on sensitivity analysis compared to budget at the business unit level rather than on differences from Generally Accepted Accounting Principles in the United States (“GAAP”) financial measures.Conference call to discuss quarterThe Company will host a conference call to discuss these results on Wednesday, August 2, 2017 at 5:00 p.m. Eastern Time. Individuals interested in participating in the call should dial (877) 838-4153 or for international participants (720) 545-0037 at least 10 minutes before start time. The call will also be webcast; to listen, participants should visit Casella Waste Systems’ website at http://ir.casella.com(link is external) and follow the appropriate link to the webcast.A replay of the call will be available on the Company’s website, or by calling (855) 859-2056 or (404) 537-3406 (Conference ID 53829727) until 10:00 p.m. ET on August 9, 2017.About Casella Waste Systems, Inc.Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides solid waste management services consisting of collection, transfer, disposal, and recycling services in the northeastern United States. For further information, investors contact Ned Coletta, Chief Financial Officer at (802) 772-2239; media contact Joseph Fusco, Vice President at (802) 772-2247; or visit the Company’s website at http://www.casella.com(link is external).*Non-GAAP Financial MeasuresIn addition to disclosing financial results prepared in accordance with GAAP, the Company also discloses earnings before interest, taxes, and depreciation and amortization, adjusted for accretion, depletion of landfill operating lease obligations, the Southbridge landfill closure charge, gains on asset sales, development project charge write-offs, contract settlement charges, legal settlement costs, tax settlement costs, bargain purchase gains, asset impairment charges, environmental remediation charges, severance and reorganization costs, expenses from divestiture, acquisition and financing costs, gains on the settlement of acquisition related contingent consideration, fiscal year-end transition costs, proxy contest costs, as well as impacts from divestiture transactions (“Adjusted EBITDA”), which is a non-GAAP financial measure.The Company also discloses earnings before interest and taxes, adjusted for the Southbridge landfill closure charge, gains on asset sales, development project charge write-offs, contract settlement charges, legal settlement costs, tax settlement costs, bargain purchase gains, asset impairment charges, environmental remediation charges, severance and reorganization costs, expenses from divestiture, acquisition and financing costs, gains on the settlement of acquisition related contingent consideration, fiscal year-end transition costs, proxy contest costs, the Southbridge landfill closure charge, as well as impacts from divestiture transactions (“Adjusted Operating Income”), which is a non-GAAP financial measure.The Company also discloses net (loss) income attributable to common stockholders, adjusted for the Southbridge landfill closure charge, gains on asset sales, development project charge write-offs, contract settlement charges, legal settlement costs, tax settlement costs, bargain purchase gains, asset impairment charges, environmental remediation charges, severance and reorganization costs, expenses from divestiture, acquisition and financing costs, gains on the settlement of acquisition related contingent consideration, fiscal year-end transition costs, proxy contest costs, impacts from divestiture transactions, losses on debt modifications, as well as impairment of investments (“Adjusted Net Income (Loss) Attributable to Common Stockholders”), which is a non-GAAP financial measure.The Company also discloses Adjusted Diluted Earnings Per Common Share, which is Adjusted Net Income (Loss) Attributable to Common Stockholders divided by Adjusted Diluted Weighted Average Shares Outstanding, which includes the dilutive effect of options and restricted / performance stock units despite the net (loss) income position during the period.The Company also discloses net cash provided by operating activities, less capital expenditures (excluding acquisition related capital expenditures), less payments on landfill operating lease contracts, plus proceeds from divestiture transactions, plus proceeds from the sale of property and equipment, plus proceeds from property insurance settlement, plus (less) contributions from (distributions to) noncontrolling interest holders (“Free Cash Flow”), which is a non-GAAP financial measure.The Company also discloses Free Cash Flow plus certain cash outflows associated with landfill closure, site improvement and remediation expenditures, plus certain cash outflows associated with new contract and project capital expenditures, (less) plus cash (inflows) outflows associated with certain business dissolutions, plus cash interest outflows associated with the timing of refinancing transactions (“Normalized Free Cash Flow”), which is a non-GAAP financial measure.Adjusted EBITDA and Adjusted Operating Income are reconciled to net (loss) income, while Adjusted Net Income (Loss) Attributable to Common Stockholders is reconciled to net (loss) income attributable to common stockholders, Adjusted Diluted Earnings Per Common Share is reconciled to diluted earnings per common share, and Free Cash Flow and Normalized Free Cash Flow are reconciled to net cash provided by operating activities.The Company presents Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income (Loss) Attributable to Common Stockholders, Adjusted Diluted Earnings Per Common Share, Free Cash Flow, and Normalized Free Cash Flow because it considers them important supplemental measures of its performance and believes they are frequently used by securities analysts, investors and other interested parties in the evaluation of the Company’s results. Management uses these non-GAAP financial measures to further understand its “core operating performance.” The Company believes its “core operating performance” is helpful in understanding its ongoing performance in the ordinary course of operations. The Company believes that providing Adjusted EBITDA, Adjusted Operating Income,  Adjusted Net Income (Loss) Attributable to Common Stockholders, Adjusted Diluted Earnings Per Common Share, Free Cash Flow, and Normalized Free Cash Flow to investors, in addition to corresponding income statement and cash flow statement measures, affords investors the benefit of viewing its performance using the same financial metrics that the management team uses in making many key decisions and understanding how the core business and its results of operations has performed. The Company further believes that providing this information allows its investors greater transparency and a better understanding of its core financial performance. In addition, the instruments governing the Company’s indebtedness use EBITDA (with additional adjustments) to measure its compliance with covenants.Non-GAAP financial measures are not in accordance with or an alternative for GAAP. Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income (Loss) Attributable to Common Stockholders, Adjusted Diluted Earnings Per Common Share, Free Cash Flow, and Normalized Free Cash Flow should not be considered in isolation from or as a substitute for financial information presented in accordance with GAAP, and may be different from Adjusted EBITDA, Adjusted Operating Income,  Adjusted Net Income (Loss) Attributable to Common Stockholders, Adjusted Diluted Earnings Per Common Share, Free Cash Flow, or Normalized Free Cash Flow presented by other companies.Safe Harbor StatementCertain matters discussed in this press release, including, but not limited to, the statements regarding financial results and guidance, are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by the context of the statements, including words such as “believe,” “expect,” “anticipate,” “plan,” “may,” “would,” “intend,” “estimate,” “guidance” and other similar expressions, whether in the negative or affirmative. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which the Company operates and management’s beliefs and assumptions. The Company cannot guarantee that it actually will achieve the financial results, plans, intentions, expectations or guidance disclosed in the forward-looking statements made. Such forward-looking statements, and all phases of the Company’s operations, involve a number of risks and uncertainties, any one or more of which could cause actual results to differ materially from those described in its forward-looking statements. Such risks and uncertainties include or relate to, among other things: costs associated with the planned capping and closure of the Southbridge landfill and the pending litigation relating to the Southbridge landfill; adverse weather conditions that have negatively impacted and may continue to negatively impact its revenues and its operating margin; current economic conditions that have adversely affected and may continue to adversely affect its revenues and its operating margin; the Company may be unable to increase volumes at its landfills or improve its route profitability; the Company’s need to service its indebtedness may limit its ability to invest in its business; the Company may be unable to reduce costs or increase pricing or volumes sufficiently to achieve estimated Adjusted EBITDA and other targets; landfill operations and permit status may be affected by factors outside its control; the Company may be required to incur capital expenditures in excess of its estimates; fluctuations in energy pricing or the commodity pricing of its recyclables may make it more difficult for the Company to predict its results of operations or meet its estimates; the Company may incur environmental charges or asset impairments in the future; and the Company’s credit facility agreement requires it to meet a number of financial ratios and covenants. There are a number of other important risks and uncertainties that could cause the Company’s actual results to differ materially from those indicated by such forward-looking statements.  These additional risks and uncertainties include, without limitation, those detailed in Item 1A, “Risk Factors” in the Company’s Form 10-K for the fiscal year ended December 31, 2016 and in other filings that the Company may make with the Securities and Exchange Commission in the future.The Company undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. 29,717 35,585 63.7% $0.13 $34,787 $13,430 (9)Net (loss) income attributable to common stockholders$(53,675) (i) Includes cash outlays associated with the Southbridge landfill closure. 73.5%Organics11,005 6.5% $17,570 41,064 $(53,900) 957 (0.1)%Commodity price & volume449 43.1% Capital expenditures(15,738) Stock-based compensation2,912 27.4% (24,372) (132,716)Payments of debt issuance costs(1,451) 1.0% Adjusted Diluted Earnings Per Common Share$0.25 593 $— (504)Other expense, net6,002 Six Months EndedJune 30, 499 100.0% 4,443 7.2% Acquisitions, net of cash acquired(2,694) 545 12,171 69,675 — $287,818 12,816 6,379 81 Following is a reconciliation of Adjusted Diluted Earnings Per Common Share to Diluted earnings per common share: Supplemental Disclosure of Non-Cash Investing and Financing Activities: (3,326)Proceeds from sale of property and equipment382 42,830 Normalized Free Cash Flow$12,281 2016 2016 24.0% $12,842 Other accrued liabilities29,489 Southbridge landfill closure charge$64,114 197,063 2016Total Growth Capital Expenditures$973 $2,382 41,598 2017 Southbridge landfill closure charge64,114 2017 Other long-term liabilities87,874 821 100.0% 100.0% (53,900) 9.9% 12,775 % of TotalCompanySolid Waste Operations: 398,466 11.4% 0.3%Disposal1,772 2017 (23,460)Payments on landfill operating lease contracts(2,200) Total stockholders’ deficit(74,633) $270,103 30,255 Cash interest$14,079 % of TotalRevenueCollection$66,308 (405) 52.0% 21,106 Collection$1,794 2.8% 503,961 78,588 Adjusted Operating Income as a percentage of revenues10.9% $— $144,670 411 26.5%Power generation2,906 0.01 1,747 2017 $3,462 230 Six Months EndedJune 30, Southbridge landfill closure charge64,114 1.6%Fuel surcharge(170) 39,384 37,638 $(1.29) 11,496 129,074 $(2,422)Adjustments to reconcile net loss to net cash provided by operating activities: 5.5% 545 % of TotalRevenue 1,782 10,174 2016Revenues$154,016 17.8% 8.7% 2017 41,064 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)(In thousands) 2.6% (682)Payments of debt extinguishment costs— (896) 19,998 — 2017 2016Net (loss) income attributable to common stockholders$(53,675) Landfill development9,276 2016Eastern region55.8% Three Months EndedJune 30, 41,698 % of TotalRevenueCollection$126,145 41,698 Adjusted EBITDA as a percentage of revenues23.4% $54,050 — 60.8% 15,802 201,295 10.8% Six Months EndedJune 30, 2017 318 1.9%Collection464 Three Months EndedJune 30, 0.1%Solid Waste Volume2,272 0.4%Total Solid Waste5,895 Environmental remediation charge (3)6,379 $0.12 Adjusted EBITDA$36,086 8.8%Total revenues$154,016 12,090 Tax effect0.01 Vehicles, machinery, equipment and containers4,370 41,598 Three Months EndedJune 30, (4,443)Interest accretion on landfill and environmental remediation liabilities(974) 71.7% CURRENT LIABILITIES: 2016 $631,512 $(0.06)Diluted weighted average common shares outstanding41,811 Amount 680 517 2016Asset impairment charge (1)$47,999 (2,493) 22,417 2017 Total Growth and Replacement Capital Expenditures$15,738 Net cash used in investing activities(30,037) 9,944 $23,460 (ii)The Company’s capital expenditures are broadly defined as pertaining to either growth, replacement or acquisition activities. Growth capital expenditures are defined as costs related to development of new airspace, permit expansions, and new recycling contracts along with incremental costs of equipment and infrastructure added to further such activities. Growth capital expenditures include the cost of equipment added directly as a result of organic business growth as well as expenditures associated with adding infrastructure to increase throughput at transfer stations and recycling facilities. Replacement capital expenditures are defined as landfill cell construction costs not related to expansion airspace, costs for normal permit renewals, and replacement costs for equipment due to age or obsolescence. Acquisition capital expenditures, which are not included in the table above, are defined as costs of equipment added directly as a result of new business growth related to an acquisition. Source: RUTLAND, Vt., Aug. 02, 2017 (GLOBE NEWSWIRE) — Casella Waste Systems, Inc www.casella.com(link is external)VBM vermontbiz.comlast_img read more

Through costume drive, SM North community provides Halloween fun to nearly 600 kids

first_imgNearly 450 kids came through Merriam Park Elementary on Friday for the costume open house. Photos courtesy Dustin Springer.Halloween is among the highlights of the year on a kid’s calendar. But when financial hardships make it difficult for parents to get their child a costume, it cake make a normally fun season one that provokes discomfort.As a way to try to ensure that area kids were able to enjoy the Halloween season, Merriam Park Elementary for the second year organized a costume drive, asking all SM North area schools to help collect new or gently used costumes. Neighboring schools pitched in as well, with communities in Olathe and from local parochial schools contributing to the donation drive as well. On Friday, when Shawnee Mission schools were out of session, Merriam Park held a costume open house, where families from all over the metro could come and select a costume for their kids.Last year, the first year for the drive, the school gave away about 150 costumes. This year, that figure more than tripled. The community donated nearly 600 costumes, and all but about 30 of them had been given away toward the end of the day. Organizers estimate that they had around 450 kids come through the building.“They came from KCK, KCMO, Olathe, SMSD, and DeSoto,” said Dustin Springer, the instructional coach at Merriam Park. “It was an incredible showing of love and generosity from the community.last_img read more

Mixed-Use: Celebrity City

first_imgCELEBRITY CITYDeveloper: Old World CommunitiesGeneral contractor: TBDArchitect: CCBG ArchitectsLocation:  NWC 32nd & Van Buren streets, PhoenixSize: 1.3 MSFThe 10-year, multi-phased plan calls for 640 residential units within five multi-story buildings; an 820-room hotel; 177,000 SF of retail space; and 380,000 SF of office space within two mid-rise towers. Construction is estimated to begin in the latter part of 2010 or 2011.last_img

NAI Horizon Sale and Lease Transactions

first_imgNAI Horizon Sales:>> Lane Neville, Brad Ranly, Barbara Lloyd, and Hunter Null negotiated the sale of a 148,797 SF retail building representing the sellers, C-III Asset Management, for $12.95M. The property is at 7760 S. Priest Dr. in Tempe.>> Lane Neville, Brad Ranly, Barbara Lloyd, and Hunter Null negotiated the sale of a 54,065 SF retail building representing the seller, C-III Asset Management, for $7M. The property is at 4623-4747 E. Elliot Rd. in Phoenix (above photo).>> Lane Neville, Brad Ranly, Barbara Lloyd, and Hunter Null negotiated the sale of a 83,436 SF retail building representing the seller, C-III Asset Management for $6.5M. The property is at 20283 N. Lake Pleasant Rd. in Peoria.>> Lane Neville, Brad Ranly, Barbara Lloyd, and Hunter Null negotiated the sale of a 20,661 SF retail building representing the seller, C-III Asset Management for $1.85M. The property is at 16650 E. Palisades Blvd. in Fountain Hills.>> Mike Myrick and Alexandra Loye negotiated the sale of a 2,378 SF office building representing the buyer, Gauthier IP2 for $179,000. The property is at 2330 W. Ray Rd. in Chandler. Ross Gutler with ROI Properties represented the seller, CML-AZ West Ray Road.NAI Horizon Leases:>> Jeff Adams represented the landlord, Dreyfus Enterprises, L.L.C., in a 36-month industrial lease transaction for a 11,920 SF property at 1841 S. Horne St. in Mesa. Rustin Randall with HUB-Realty Inc. represented the tenant, Brahma Group, Inc.>> Peggy Johnson represented the tenant, Your Source Financial, PLC., in a 42-month office lease transaction for a 2,466 SF property at 7150 E. Camelback Rd. in Scottsdale. Chris Latvaaho with Cushman & Wakefield represented the landlord, Scottsdale Fashion Square, LLC.>> Barbara Lloyd represented the landlord, Presson Corporation, in a 32-month office lease transaction for a 1,940 SF property at 40 W. Baseline Rd. in Tempe.>> Laurel Lewis represented the tenant, Comprehensive Recruiting in a 36-month office lease transaction for a 1,570 SF property at 1208 E. Broadway Rd. in Tempe.>> Tom Bean represented the landlord, DeVictoria, LLC., in a 25-month office lease transaction for a 1,264 SF property at 908 W. Chandler Blvd. in Chandler.>> Barbara Lloyd represented the landlord, Presson Corporation in a 24-month office lease transaction for a 1,100 SF property at 40 W. Baseline Rd. in Tempe. Gregg Kafka with Lee & Associates represented the tenant, Regis Development, Inc.last_img read more