logo
'Overnight success that has taken 30 years': Wonderful's Resnick jokes with audience at Shafter ribbon-cutting

'Overnight success that has taken 30 years': Wonderful's Resnick jokes with audience at Shafter ribbon-cutting

Yahoo19 hours ago

His success in business is evident across the southern Central Valley, in sprawling ag fields and in a large distribution hub in Shafter. But it's not often Stewart Resnick is seen at large events in Kern County.
Late Thursday morning, though, the co-owner of Los Angeles-based The Wonderful Co. walked up, stood before an audience of more than 200 people just north of 7th Standard Road and took a moment to adjust the microphone downward. Then he opened with a joke.
Resnick, diminutive in a blue button-down, long-sleeve shirt and jeans, said normally when he comes to such events people look around and say, "You're Stewart Resnick?"
"I say, 'I used to be 6 foot 4. My competition came and beat me into the ground,'" he said.
He's humble, folks. Even when surrounded by dignitaries celebrating another one of his company's large investments in the local economy.
Resnick had come to join them to mark the opening of Wonderful's new Amenities Center, a gleaming new complex with a tech training center, office building and subsidized restaurant with an urgent care center still to come.
The center serves as the welcoming heart of the Wonderful Logistics Center, which the company proposes to almost double in the years to come. If the City Council approves, the company hopes also to build thousands of new homes for workers and their families.
Resnick called the already large development "one of our most ambitious projects," a state-of-the-art facility populated by Fortune 500 companies on land where three decades ago there were only orchards.
"This is an overnight success that has taken 30 years," he quipped after thanking those in attendance for sharing the day.
"Now let's go show the world what Shafter and the Central Valley can do!" he said in closing.
Wonderful has already had a big impact on farming communities in the valley portion of Kern County, especially in Lost Hills and Delano, where in addition to being a major employer, the company has opened charter academies, wellness centers and more.
Shafter is the next big focus. If Wonderful moves forward with an expansion of the distribution-center hub, the logistics center's employment base is expected to expand over time from about 13,000 to 50,000. Housing units the company proposes to build would expand Shafter's population by about 40%.
The Amenities Center is sort of a precursor to those developments. Its training center works in partnership with Amazon and Bakersfield College to introduce job-seekers to tech-oriented warehouse jobs. The office building boasts numerous art pieces, and the restaurant serves healthy meals at relatively low prices.
Thursday's gathering drew representatives of many of Kern's most prominent business, government and educational organizations, many of whom accepted offers to tour the new buildings.
Resnick's humility was matched by that of invited speaker Supervisor David Couch, who said he was coming from a local government perspective when he told the audience, "We can't do anything, and I mean anything, until you all make something, provide a service."
"The revenue that local government gets comes because you all come to work every day," Couch said. "It all starts because somebody … took the risk to invest their money in this community."
Shafter Mayor Chad Givens was up next. He said the city prides itself on how business operates in Shafter and how it is able to move in operators as fast as possible.
"We're a very business friendly city and we're thankful for that," he said before expressing gratitude to Wonderful for its work in the city.
Former City Manager John Guinn, now Wonderful Real Estate's executive vice president and chief operating officer, told the crowd Resnick and his wife, Lynda Resnick, have shown their commitment to the families of the Central Valley. In his experience, they want nothing more than for the region to become a strong, vibrant place to live.
"Everything they talk about, they actually do," he said. "That's uncommon."

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nova Scotia's offshore wind transmission line could cost $10 billion: premier
Nova Scotia's offshore wind transmission line could cost $10 billion: premier

Hamilton Spectator

time31 minutes ago

  • Hamilton Spectator

Nova Scotia's offshore wind transmission line could cost $10 billion: premier

HALIFAX - It could cost between $5 billion and $10 billion to build a transmission line that would connect Nova Scotia's proposed offshore wind farms with the rest of the country, Premier Tim Houston says. The rough estimate follows his announcement last week that Nova Scotia wants to license enough offshore turbines over the next 10 years to produce 40 gigawatts of electricity — eight times more than what was originally planned. 'It's a concept,' Houston said after a cabinet meeting Thursday, referring to the Wind West project. 'It's a very powerful concept .... My objective, initially, was to capture the imagination of Nova Scotians.' For context on the size of Houston's ambitions, Nova Scotia, with just over one million people, requires 2.4 GW at peak demand. The Brussels-based Global Wind Energy Council issued a 2025 report saying China's offshore wind turbines were producing just under 42 GW as of last year. The council says the global offshore wind energy industry added 11 GW in 2023 and 8 GW in 2024. Houston went on to say the project would require 'hundreds' of wind turbines to be built in water about 100 metres deep, about 25 kilometres offshore. A renewable energy expert, however, said it will take far more turbines to generate 40 GW of reliable electricity, assuming that a peak capacity of 66 GW would be required. Sven Scholtysik, a research director at Net Zero Atlantic, said that based on the current industry standard of using 15 megawatt turbines, Wind West would require construction of more than 4,000 offshore turbines. Despite that big number, Scholtysik said there would be ample room for them amid the 19,500 square kilometres within the five 'wind energy areas' selected in January by an independent committee appointed by the federal and Nova Scotia governments. When asked how long it would take to build such an ambitious project, Scholtysik said it would be difficult to come up with an accurate timeline. 'When we look at how long it takes to build an offshore wind park, that 10-year number is about right,' said Scholtysik, who's research focuses on electricity, clean fuels and modelling. 'But that ambition to install 66 GW is likely going to require multiple projects, not one single project.' Tina Northrup, a lawyer with the East Coast Environmental Law Association, said Houston's 10-year time frame does not seem feasible, given the need for consultations and environmental studies. 'It would be unrealistic to have that much offshore wind infrastructure out into the water in a short period of time,' she said. 'We understand this to be a vision that might be realized decades into the future. It wouldn't be an all-at-once kind of thing.' As for Houston, he has said he floated the idea on June 2 to get the attention of Prime Minister Mark Carney, who has asked provincial and territorial leaders to submit bids for infrastructure projects to help Canada withstand the trade turmoil caused by U.S. President Donald Trump. 'I think Nova Scotians are pretty inspired by what's possible,' Houston said. 'This would change Nova Scotia and Atlantic Canada and provide green, renewable energy that the world is looking for.' The Progressive Conservative premier has said he wants Ottawa to help cover the costs of Wind West, saying the excess electricity could supply 27 per cent of Canada's total demand. If his plan is successful, Nova Scotia would become an 'energy superpower' that no longer requires federal equalization payments, he said. 'We could get off of that transfer system over the next 20 years if we pursued the opportunities that are available to us.' Houston went on to say Nova Scotia's offshore is blessed with strong, remarkably steady winds. Scholtysik, whose research group gets most of its funding from provincial and federal governments, confirmed that the wind energy industry is well aware that Nova Scotia's offshore winds are among the strongest and most consistent in the world. A study from the wind energy research firm Aegir Insights, based in Denmark, found that Nova Scotia's offshore has a 'world-class wind resource,' with almost all areas recording consistent wind speeds between 9 and 11 metres per second. 'The consistent availability of good wind resources across the entire offshore territory means that wind speed will likely not be a restricting factor when it comes to siting offshore wind farms,' the 2020 study says. This report by The Canadian Press was first published June 13, 2025 Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .

Meta invests $14.3B in AI firm Scale and recruits its CEO for ‘superintelligence' team
Meta invests $14.3B in AI firm Scale and recruits its CEO for ‘superintelligence' team

Los Angeles Times

time34 minutes ago

  • Los Angeles Times

Meta invests $14.3B in AI firm Scale and recruits its CEO for ‘superintelligence' team

Meta is making a $14.3 billion investment in artificial intelligence company Scale and recruiting its CEO Alexandr Wang to join a team developing 'superintelligence' at the tech giant. The deal announced Thursday reflects a push by Meta CEO Mark Zuckerberg to revive AI efforts at the parent company of Facebook and Instagram as it faces tough competition from rivals such as Google and OpenAI. Meta announced what it called a 'strategic partnership and investment' with Scale late Thursday. Scale said the $14.3 billion investment puts its market value at over $29 billion. Scale said it will remain an independent company but the agreement will 'substantially expand Scale and Meta's commercial relationship.' Meta will hold a 49% stake in the startup. Wang, though leaving for Meta with a small group of other Scale employees, will remain on Scale's board of directors. Replacing him is a new interim Scale CEO Jason Droege, who was previously the company's chief strategy officer and had past executive roles at Uber Eats and Axon. Zuckerberg's increasing focus on the abstract idea of 'superintelligence' — which rival companies call artificial general intelligence, or AGI — is the latest pivot for a tech leader who in 2021 went all-in on the idea of the metaverse, changing the company's name and investing billions into advancing virtual reality and related technology. It won't be the first time since ChatGPT's 2022 debut sparked an AI arms race that a big tech company has gobbled up talent and products at innovative AI startups without formally acquiring them. Microsoft hired key staff from startup Inflection AI, including co-founder and CEO Mustafa Suleyman, who now runs Microsoft's AI division. Google pulled in the leaders of AI chatbot company while Amazon made a deal with San Francisco-based Adept that sent its CEO and key employees to the e-commerce giant. Amazon also got a license to Adept's AI systems and datasets. Wang was a 19-year-old student at the Massachusetts Institute of Technology when he and co-founder Lucy Guo started Scale in 2016. They won influential backing that summer from the startup incubator Y Combinator, which was led at the time by Sam Altman, now the CEO of OpenAI. Wang dropped out of MIT, following a trajectory similar to that of Zuckerberg, who quit Harvard University to start Facebook more than a decade earlier. Scale's pitch was to supply the human labor needed to improve AI systems, hiring workers to draw boxes around a pedestrian or a dog in a street photo so that self-driving cars could better predict what's in front of them. General Motors and Toyota have been among Scale's customers. What Scale offered to AI developers was a more tailored version of Amazon's Mechanical Turk, which had long been a go-to service for matching freelance workers with temporary online jobs. More recently, the growing commercialization of AI large language models — the technology behind OpenAI's ChatGPT, Google's Gemini and Meta's Llama — brought a new market for Scale's annotation teams. The company claims to service 'every leading large language model,' including from Anthropic, OpenAI, Meta and Microsoft, by helping to fine tune their training data and test their performance. It's not clear what the Meta deal will mean for Scale's other customers. Wang has also sought to build close relationships with the U.S. government, winning military contracts to supply AI tools to the Pentagon and attending President Donald Trump's inauguration. The head of Trump's science and technology office, Michael Kratsios, was an executive at Scale for the four years between Trump's first and second terms. Meta has also begun providing AI services to the federal government. Meta has taken a different approach to AI than many of its rivals, releasing its flagship Llama system for free as an open-source product that enables people to use and modify some of its key components. Meta says more than a billion people use its AI products each month, but it's also widely seen as lagging behind competitors such as OpenAI and Google in encouraging consumer use of large language models, also known as LLMs. It hasn't yet released its purportedly most advanced model, Llama 4 Behemoth, despite previewing it in April as 'one of the smartest LLMs in the world and our most powerful yet.' Meta's chief AI scientist Yann LeCun, who in 2019 was a winner of computer science's top prize for his pioneering AI work, has expressed skepticism about the tech industry's current focus on large language models. 'How do we build AI systems that understand the physical world, that have persistent memory, that can reason and can plan?' LeCun asked at a French tech conference last year. These are all characteristics of intelligent behavior that large language models 'basically cannot do, or they can only do them in a very superficial, approximate way,' LeCun said. Instead, he emphasized Meta's interest in 'tracing a path towards human-level AI systems, or perhaps even superhuman.' When he returned to France's annual VivaTech conference again on Wednesday, LeCun dodged a question about the pending Scale deal but said his AI research team's plan has 'always been to reach human intelligence and go beyond it.' 'It's just that now we have a clearer vision for how to accomplish this,' he said. LeCun co-founded Meta's AI research division more than a decade ago with Rob Fergus, a fellow professor at New York University. Fergus later left for Google but returned to Meta last month after a 5-year absence to run the research lab, replacing longtime director Joelle Pineau. Fergus wrote on LinkedIn last month that Meta's commitment to long-term AI research 'remains unwavering' and described the work as 'building human-level experiences that transform the way we interact with technology.' O'Brien writes for the Associated Press.

Deadline Soon: Ibotta, Inc. (IBTA) Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit
Deadline Soon: Ibotta, Inc. (IBTA) Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit

Associated Press

time40 minutes ago

  • Associated Press

Deadline Soon: Ibotta, Inc. (IBTA) Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit

LOS ANGELES--(BUSINESS WIRE)--Jun 13, 2025-- The Law Offices of Frank R. Cruz reminds investors of the upcoming June 16, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Ibotta, Inc. ('Ibotta' or the 'Company') (NYSE: IBTA ) securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the 'Registration Statement') issued in connection with the Company's April 2024 initial public offering (the 'IPO' or 'Offering'). IF YOU ARE AN INVESTOR WHO LOST MONEY ON IBOTTA, INC. (IBTA), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT. What Happened? On April 18, 2024, Ibotta conducted its IPO, selling 2.5 million shares at $88.00 per share. On August 13, 2024, after market hours, Ibotta released its second quarter 2024 financial results, revealing a net loss of $34 million, a 19% decline in direct-to-consumer redemptions, and a 7% reduction of direct-to-consumer redeemers. Additionally, despite being prominently featured in the Company's Registration Statement, there was no mention of Kroger as Ibotta's client in its quarterly report. The price of Ibotta's securities has plummeted since the IPO, devastating investors. As of April 17, 2025, Ibotta's stock has traded significantly lower than the IPO price of $88.00 per share. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Kroger's contract was at-will; (2) a large client could cancel their contract with Ibotta without warning; (3) despite providing a detailed explanation of the terms of Ibotta's contract with Walmart, there was not a single warning of the at-will nature of Kroger's contract; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Ibotta securities pursuant and/or traceable to the IPO, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is June 16, 2025. Contact Us To Participate or Learn More: If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us: Frank R. Cruz The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 Email us at: [email protected] Call us at: 310-914-5007 Visit our website at Follow us for updates on Twitter: If you inquire by email, please include your mailing address, telephone number, and number of shares purchased. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on CONTACT: The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz, 310-914-5007 [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: The Law Offices of Frank R. Cruz Copyright Business Wire 2025. PUB: 06/13/2025 02:55 PM/DISC: 06/13/2025 02:53 PM

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store