$30 Minimum Wage Has L.A. Hotel Owners in Revolt
Hotel owners are in open revolt against Los Angeles's new $30-an-hour minimum wage, the latest blow to one of the country's poorest-performing lodging markets.
This was supposed to be a great time to own a hotel in L.A. The area will soon be at the center of the globe's premier sporting events, first as a host city for eight World Cup soccer games next year, and then the Super Bowl the following year. In 2028, L.A. hosts the summer Olympics.
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Yahoo
31 minutes ago
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Supermicro Announces Proposed Offering of $2.0 Billion of Convertible Senior Notes due 2030
SAN JOSE, Calif., June 23, 2025--(BUSINESS WIRE)--Super Micro Computer, Inc. (NASDAQ: SMCI) ("Supermicro" or the "Company"), a Total IT Solution Manufacturer for AI, Cloud, Storage, and 5G/Edge, today announced that it intends to offer, subject to market conditions and other factors, $2.0 billion aggregate principal amount of convertible senior notes due 2030 (the "Convertible Notes"). The Convertible Notes are to be offered and sold to persons reasonably believed to be "qualified institutional buyers" pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company also expects to grant an option to the initial purchasers to purchase up to an additional $300.0 million aggregate principal amount of the Convertible Notes within a 13-day period from, and including, the date the Convertible Notes are first issued. The Convertible Notes will be senior, unsecured obligations of the Company and will accrue interest payable semi-annually in arrears. The Convertible Notes will mature on June 15, 2030, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date. Prior to the close of business on the business day immediately preceding December 17, 2029, the Convertible Notes will be convertible only upon the satisfaction of certain conditions and during certain periods, and on and after December 17, 2029, at any time prior to the close of business on the second scheduled trading day immediately preceding the maturity date, the Convertible Notes will be convertible regardless of these conditions. The Company will settle conversions by paying or delivering, as applicable, cash, shares of the Company's common stock or a combination of cash and shares of the Company's common stock at the Company's election. The initial conversion rate, interest rate and other terms of the Convertible Notes will be determined at the time of pricing in negotiations with the initial purchasers of the Convertible Notes. In connection with the pricing of the Convertible Notes, the Company expects to enter into privately negotiated capped call transactions with one or more financial institutions which may include one or more of the initial purchasers or their affiliates (the "option counterparties"). If the initial purchasers exercise their option to purchase additional Convertible Notes, the Company expects to enter into additional capped call transactions with the option counterparties. The capped call transactions are expected generally to reduce the potential dilution to the Company's common stock upon conversion of the Convertible Notes and/or offset any potential cash payments the Company is required to make in excess of the principal amount of the Convertible Notes, as the case may be, with such reduction and/or offset subject to a cap. In connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to enter into various derivative transactions with respect to the Company's common stock and/or purchase shares of the Company's common stock concurrently with or shortly after the pricing of the Convertible Notes. This activity could increase (or reduce the size of any decrease in) the market price of the Company's common stock or the Convertible Notes at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to the Company's common stock and/or purchasing or selling the Company's common stock or other securities of the Company in secondary market transactions following the pricing of the Convertible Notes and prior to the maturity of the Convertible Notes (and are likely to do so during any observation period related to a conversion of the Convertible Notes or following any repurchase of the Convertible Notes by the Company to the extent the Company elects to unwind a corresponding portion of the capped call transactions in connection with such repurchase). This activity could also cause or avoid an increase or a decrease in the market price of the Company's common stock or the Convertible Notes, which could affect noteholders' ability to convert the Convertible Notes, and, to the extent the activity occurs during any observation period related to a conversion of the Convertible Notes, it could affect the amount and value of the consideration that noteholders will receive upon conversion of the Convertible Notes. The Company expects to use a portion of net proceeds of the offering to fund the cost of entering into the capped call transactions. The Company intends to use up to $200.0 million of the net proceeds to repurchase shares of its common stock from purchasers of the Convertible Notes concurrently with the pricing of the offering in privately negotiated transactions effected through one of the initial purchasers of the Convertible Notes or its affiliate, as the Company's agent. The Company intends to use the remainder of the net proceeds from the offering for general corporate purposes, including to fund working capital for growth and business expansion. If the initial purchasers exercise their option to purchase additional Convertible Notes, the Company intends to use a portion of the net proceeds from the sale of additional Convertible Notes to fund the cost of entering into additional capped call transactions. This press release is neither an offer to sell nor a solicitation of an offer to buy the Convertible Notes or the shares of the Company's common stock issuable upon conversion of the Convertible Notes, if any, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offer of these securities will be made only by means of a private offering memorandum. The offer and sale of the Convertible Notes and the shares of the Company's common stock issuable upon conversion of the Convertible Notes, if any, have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Cautionary Statement Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, among other things, the anticipated terms of the Convertible Notes and capped call confirmations, statements regarding the intended use of the net proceeds from the offering and the potential impact of anticipated transactions by holders of the Convertible Notes and the option counterparties on the Company's securities. Forward-looking statements may be identified by the use of the words "may," "will," "expect," "intend" and other similar expressions. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are based on management's current expectations and beliefs about future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties include, but are not limited to, the risks related to whether the Company will consummate the offering and enter into the capped call transactions on the expected terms or at all, the anticipated effects of holders of the Convertible Notes or the option counterparties entering into or unwinding derivative transactions with respect to the Company's common stock and/or purchasing or selling the Company's common stock, market and general conditions, and risks relating to the Company's business, including those described in periodic reports that the Company files from time to time with the Securities and Exchange Commission. The forward-looking statements included in this press release speak only as of the date of this press release, and the Company does not undertake to update the statements included in this press release for subsequent developments, except as may be required by law. About Super Micro Computer, Inc. Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first-to-market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions manufacturer with server, AI, storage, IoT, switch systems, software, and support services. Supermicro's motherboard, power, and chassis design expertise further enables our development and production, enabling next-generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling). Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc. All other brands, names, and trademarks are the property of their respective owners. View source version on Contacts Investor Relations Contact: Nicole NoutsiosStratos Advisorsemail: ir@ Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Washington Post
32 minutes ago
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South Dakota eager for Trump's statue garden near Mount Rushmore despite local opposition
SIOUX FALLS, S.D. — Officials in South Dakota are pushing hard to build President Donald Trump 's proposed National Garden of American Heroes in the Black Hills near Mount Rushmore, but the effort has sparked a backlash from Indigenous groups who see the area as sacred. A mining company has offered to donate 40 acres (16 hectares) less than a mile from Mount Rushmore, where massive sculptures of four of the nation's most prominent presidents are carved out of granite.
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32 minutes ago
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Truckers practice English skills as US language policy takes effect
LINDEN, New Jersey — At a trucking school in New Jersey, students are maneuvering 18-wheelers around traffic cones. Other future drivers look under hoods to perform safety checks, narrating as they examine steering hoses for cracks and leaks. An instructor glides between speaking Spanish and English as he teaches Manuel Castillo, a native Spanish speaker, how to inspect a school bus. They're using a printed script of English phrases to practice what Castillo would say during a roadside inspection. Brushing up on English has taken on new urgency for future and current truck drivers after President Donald Trump issued an executive order saying truckers who don't read and speak the language proficiently would be considered unfit for service. 'A driver who can't understand English will not drive a commercial vehicle in this country. Period,' Transportation Secretary Sean Duffy said last month while announcing enforcement guidelines that take effect on Wednesday. Updated U.S. Department of Transportation procedures call for enhanced inspections to determine if commercial motor vehicle operators can reply to questions and directions in English, as well as understand highway traffic signs and electronic message boards. Truckers who learned English as a second language are concerned they may lose their jobs if they make a mistake or speak with a heavy accent while under questioning. Some have worked to improve their English fluency by taking classes, reciting scripts and watching instructional videos. 'If it's not the language that you prefer to use daily, you may get a little nervous and you may feel, 'What if I say the wrong thing?'' said Jerry Maldonado, chairman of the board of the Laredo Motor Carriers Association, a trade association in Laredo, Texas, that represents approximately 200 trucking companies. 'It's going to be, at the end of the day, the interpretation of the officer, so that makes people nervous.' The guidance applies to truck and bus drivers engaged in interstate commerce . It aims to improve road safety following incidents in which truck drivers' inability to read signs or speak English may have contributed to traffic deaths, the Transportation Department said. Requiring truck drivers to speak and read English isn't new, but the penalty for not meeting the proficiency standard is becoming more severe. To get a commercial driver's license , applicants must pass a written test and be able to name the parts of a bus or truck in English as they check tire inflation, tread depth, lug nuts and coolants. The revised policy reverses guidance issued nine years ago, near the end of then-President Barack Obama's final term, according to the Federal Motor Carrier Safety Administration. In 2016, the agency said drivers whose English skills were found lacking could receive a citation but not be prohibited from working. Before that, the penalty was getting placed on 'out-of-service status.' 'We have bridges that get hit because drivers don't understand the signs on the bridges for things like height clearance,' Owner-Operator Independent Drivers Association President Todd Spencer said. In Laredo, a border city where many residents speak a mix of English and Spanish, Maldonado's association is offering free English classes on weekends to help truckers feel more confident in their ability to communicate. 'Everybody knows what a stop sign looks like,' Maldonado said. 'But if there's construction or if there is an accident five miles down the road, and they have to put up a sign — 'Caution, must exit now, road closed ahead,' and you are not able to read that or understand that, that could potentially be a safety issue.' At Driving Academy in Linden, New Jersey, multilingual instructors teach students how to inspect vehicle parts in their first language and then provide explanations in English, according to founder Jonathan Marques. The school created scripts so students could practice what to say if they're stopped , he said. Students are advised to watch training videos as homework, while licensed truckers can listen to English language apps instead of music when they're on the road, Marques suggested. Instructor Paul Cuartas helps students prepare but worries that inspectors will now expect truckers and bus drivers to have perfect English. 'I'm concerned because now for all the Spanish people it's more difficult,' he said. Castillo, who moved to the U.S. from Ecuador in 1993, said he has no problem understanding English but has been watching videos to study industry terms. 'Some words I don't understand, but I try to learn more English,' he said. Asked whether he supports the president's executive order, Castillo said he voted for Trump but doesn't agree with the president's push to deport some immigrants who haven't committed crimes. 'He makes a lot of problems, especially for Hispanic people,' Castillo said. GTR Trucking School in Detroit also has offered students ESL classes. Co-owner Al Myftiu drove a truck after moving to the U.S. from Albania in 1993. He said he wants to create a small book of phrases that truckers need to learn. For students with a thick accent, 'I tell them, 'Slow down, speak slowly and people can understand you, and if you don't understand something, you can ask,'' Myftiu said. Roadside inspections can be initiated over issues such as a faulty brake light or on a routine basis, and often take place at weigh stations. The guidance directs inspectors who suspect a driver doesn't understand what they're saying to administer an English proficiency test, which includes both an interview and a highway traffic sign recognition component. In the past, some drivers used translation apps to communicate with federal inspectors. The updated policy bars the use of interpreters, smartphones, cue cards or other aids during interviews. Several truck drivers taking a break at Flying J Travel Center in New Jersey said they support Trump's order, adding that drivers who heavily rely on translation programs probably wouldn't be able to read important signs. 'We try to ask them questions about the business just to strike a conversation, ... and they're not able to communicate with us at all,' Kassem Elkhatib, one of the drivers at Flying J, said. It's unclear how safety inspectors will decide whether a driver knows enough English because that portion of the instructions was redacted from the guidance distributed by Transportation Department. The department advised motor carriers that drivers should be able to answer questions about shipping documents, the origin and destination of trips, and how long they've been on duty . A trucker placed out of service and the company they work for are responsible for ensuring a language violation is corrected before the driver hits the highway again, the Transportation Department said. Truck drivers who practice the Sikh religion already face discrimination in hiring and at loading docks, according to Mannirmal Kaur, federal policy manager for Sikh Coalition, an advocacy group. Now they are worried about inspectors making subjective, non-standardized determinations about which of them are proficient in English, she said. 'A truck driver who does speak English sufficiently to comply with federal standards but maybe they speak with an accent, or maybe they use a different vocabulary that the inspector isn't used to hearing: Is that person then going to be subject to an English language violation?' Kaur asked. 'And under the new policy, are they then going to be designated out-of-service, which could result in unemployment?' ___ Video journalist Mingson Lau contributed from Carneys Point Township, New Jersey.
