Alexander Catherwood
Alexander Catherwood has joined XL Construction as a Director of Business Acquisition, supporting the Science & Advanced Technology markets. He brings over 15 years of experience delivering complex projects across the biotech, healthcare, and commercial sectors. Prior to joining XL, Alexander led West Coast design & construction efforts at SmartLabs and served CM firms prior to that. XL is a purpose-driven Northern California-based general contractor focused on building to improve lives.
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Politico
2 hours ago
- Politico
Facing Colorado River crunch, Trump admin eyes SoCal groundwater
The situation on the Colorado River — the water supply for 40 million Westerners and half of all Californians — is dire. The waterway's flows have shrunk 20 percent since the turn of the century and climate scientists say it's not unreasonable to think that another 20 percent could be lost in the coming decades. To cities, farmers, tribes and industries from Wyoming to Mexico — but especially in legally vulnerable Arizona — that looks like pain. To the Los Angeles-based water company Cadiz Inc., that looks like opportunity. After trying and failing for more than two decades to pump ancient groundwater from beneath the Mojave Desert and sell it to Southern California water districts, the controversial company has set its sights on new customers over the border in the Grand Canyon State. 'We are hopeful that our projects can support the Bureau's efforts to manage Colorado River resources and Lake Mead,' Cadiz CEO Susan Kennedy (a former chief of staff to California Gov. Arnold Schwarzenegger) said on Wednesday. Her pitch: There's up to 2.5 million acre-feet of untapped water in the Mojave Desert her company can move and store across the arid Southwest. In California, the project is a perpetual political football, opposed by the likes of the late Sen. Dianne Feinstein, who was broadly a champion of water projects but was concerned it would harm the desert environment. One former state lawmaker compared the dispute to 'Hatfield and McCoy, Palestinians and the Jews.' Now, Trump is getting in the mix. On Monday, the Interior Department announced plans to sign a memorandum of understanding with the latest incarnation of the project, called the Mojave Groundwater Bank, touting it as 'an important tool to improve drought resiliency in the Colorado River Basin' though recognizing that it is only in 'early development.' And on Tuesday, the Trump administration official leading Colorado River negotiations for the federal government suggested to water power players in Arizona that they consider the project. 'The Cadiz sponsors think they have a lot of groundwater that could go somewhere. If it turns out they are right, would Arizona want to have a conversation about that water?' Scott Cameron, an acting assistant secretary at the Interior Department, asked at a meeting of a state water committee. For the Trump administration, trumpeting Cadiz is a chance to show it's doing something about the Colorado River despite the seven Western states remaining sharply divided over how to divvy up water cuts after current rules expire in 2026. For Cadiz, the endorsement is a political lifeline after decades of in-state opposition — and a return to more favorable treatment under the Trump administration even after the company dumped a lobbying firm with powerful Trump ties, Brownstein Hyatt Farber Schreck, after Biden took office. Under the Biden administration, Cadiz rebranded itself as an environmental justice-focused company seeking to fill accessibility gaps in economically depressed regions of the state. Kennedy even expressed concern after the November election that a new Trump administration would push back on its plans to repurpose 80 miles of steel pipe it purchased from the terminated Keystone XL oil pipeline to transport water. Opponents of the project, including conservation groups who say it could harm sensitive desert ecosystems, still see it as the same old concept. 'It's not surprising that an administration that wasted over 2 billion gallons of water under the guise of wildfire response thinks it's a good idea to overdraft a desert aquifer that supports federally protected land,' said Neal Desai, the senior program director for the National Parks Conservation Association. It's likely the project will draw some interest within Arizona, especially among the lowest-priority water users who are desperate to protect their Colorado River supplies as the seven states that share the waterway negotiate over new rules to govern the river. The state has already committed to cutting more than a quarter of its use from the river, and any cuts beyond that will fall first on Central Arizona cities and tribes unless alternative deals can be reached. But it will take a lot more than interest to make a deal happen. Cadiz has run into opposition from California state lawmakers and the State Lands Commission, which after urging from state Sen. Monique Limón and Assemblymember Isaac Bryan told Kennedy in a letter last week not to start construction on the pipeline that would transfer water without agency buy-in, which could take a year to two years. Crucially, Cadiz would almost certainly need buy-in from the long-skeptical Metropolitan Water District of Southern California, because any deals with Arizona would likely include Metropolitan taking Cadiz's water and leaving a portion of its Colorado River water in Lake Mead in exchange. Many of the hurdles Metropolitan has cited in the past, from water quality concerns to operational challenges, remain — and the district's board of directors also includes two prominent California environmentalists. Cadiz has yet to formally approach Metropolitan about its new plan. 'Metropolitan's board does not currently have any pending items from Cadiz to consider and none are planned for the foreseeable future,' Metropolitan spokesperson Rebecca Kimitch said by email. The last time the board reviewed anything from Cadiz was in 2002, when it voted to reject the project, she said. But, amid high-stakes Colorado River negotiations, it might be hard for Metropolitan to say no to a request that could help ease the path to a deal for another state. Like this content? Consider signing up for POLITICO's California Climate newsletter.
Yahoo
2 hours ago
- Yahoo
PG&E Corporation (PCG) is Among the Energy Stocks Losing This Week
The share price of PG&E Corporation (NYSE:PCG) fell by 8.38% between June 10 and June 17, 2025, putting it among the Energy Stocks that Lost the Most This Week. Brightly-lit nighttime view of an electricity power grid with distribution lines and transmission substations. PG&E Corporation (NYSE:PCG) provides natural gas and electric service to approximately 16 million people throughout a 70,000-square-mile service area in northern and central California. PG&E Corporation (NYSE:PCG) continues to plunge and reached a new 2-year low this week following the backlash of the company's role in past wildfire incidents, and a proposed California legislation that would overhaul utility regulation and financing in the state. The legislation calls for the creation of a new regulatory authority and excludes utility shareholders from earning profits from as much as $15 billion in capital spending on fire mitigation and infrastructure. Moreover, it seems to include provisions for improving the Golden State's utility wildfire insurance fund, requiring ongoing contributions from utilities. While we acknowledge the potential of PCG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
3 hours ago
- Miami Herald
Huge national school chain files for Chapter 11 bankruptcy
The economic challenges of operating colleges, secondary, and primary schools can lead to unpleasant consequences for students, staff, and even alumni. Public school districts, in extreme situations, will close a campus and lease or sell the property when it is no longer needed. Don't miss the move: Subscribe to TheStreet's free daily newsletter When it comes to private schools, financial distress can result in school closures, the sale of campuses, and, in some cases, bankruptcy filings. Related: Popular restaurant chain franchisee files Chapter 11 bankruptcy A major public university recently revealed that it will shut down one-third of its satellite campuses as a result of growing financial challenges and declining enrollment. Iconic Penn State University in State College, Pa., revealed in May 2025 that it would close seven of its 20 campuses, which are located in DuBois, Fayette, Mont Alto, New Kensington, Shenango, Wilkes-Barre, and York, Pa., after two more academic years, University Business reported. Students who have not graduated by the 2026-27 academic year will be counseled on degree completion options and transfers to other Penn State campuses. Two private universities, St. Andrews University in North Carolina and Limestone University in South Carolina, announced in April that they will close at the end of the spring 2025 semester. Both blamed financial difficulties for their demise. Several college and university consolidations and mergers were also revealed in March and April by institutions looking for an answer to declining enrollment. The University System of Georgia said in April that it would consolidate East Georgia State University within Georgia Southern University. Villanova University in Pennsylvania announced in March that it will merge with Rosemont College, which will eventually become Villanova University Rosemont College. Cornish College of Arts in Washington in March, revealed it will change its name after a sale to Seattle University and become Cornish College of Arts at Seattle University. Huge educational institute chain owner Higher Ground Education Inc., formerly the world's largest Montessori school operator, filed for Chapter 11 bankruptcy with a restructuring support agreement that will hand all of its equity to a prepetition secured lender. Related: Major nationwide trucking company files for Chapter 11 bankruptcy The Houston-based debtor listed $100 million to $500 million in assets and liabilities, which includes over $127 million in funded secured debt and $144 million in unsecured funded debt. Higher Ground Education's largest unsecured creditors include over $13.2 million owed to Guidepost Financial Partner LLC, over $1.49 million owed to 775 Columbus LLC, over $939,000 owed to 214 E. Hallandale Beach LLC, and over $834,000 owed to Strike Inc. Under a restructuring support agreement between the debtor, equity holders, and lenders, investor 2HR Learning Inc. will provide debtor-in-possession financing consisting of $8 million in new money and a $2 million rollup of a prepetition bridge loan in exchange for all the debtor's equity. More bankruptcy: Iconic auto repair chain franchise files Chapter 11 bankruptcyPopular beer brand closes down and files Chapter 7 bankruptcyPopular vodka and gin brand files for Chapter 11 bankruptcy Founded in 2016 in Southern California as a Montessori school network, the debtor began building its system with 12 schools in 2018, expanded globally to 101 by 2022, and became the world's largest Montessori school owner with over 150 schools by the fall of 2024. The debtor operated its Montessori schools under several brands, including Guidepost Montessori, Beacon Elementary, Altitude Learning, TinyCare, and NeighborSchools. The debtor was never able to maintain and generate sufficient liquidity to fund operations since it opened, according to a declaration by company President Jonathan McCarthy. After several prepetition foreclosures and negotiated sales, the debtor's ownership of the Montessori schools plummeted to seven facilities on the petition date. Since 2020, the company has raised $335 million in funding, but the business has never generated positive cash flows from operations. The company reported a $55 million loss in 2024, a $103 million loss in 2023, and a loss of over $106 million in 2022. Higher Ground Education had lost $24.8 million through April in 2025. Related: Popular smoothie chain franchisee files for Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
