Latest news with #Bluebird
Edinburgh Reporter
4 days ago
- Automotive
- Edinburgh Reporter
Vettriano studies sold at auction
A group of six studies by the late Scottish artist Jack Vettriano fetched nearly £132,000 at auction in Edinburgh amid a peak in interest in his work following his recent unexpected death. The oil paintings were completed by Vettriano over a period of more than 20 years and included subjects ranging from a poignant self portrait to one of his iconic racing car scenes. The works, which led Bonhams' Scottish Art Sale in Edinburgh, were among the first by Vettriano to appear at auction since the artist died in March, aged 73, at his home in Nice in the south of France. The highlight was Pendine Beach (Study), painted in 1996, which made £44,800. The picture was part of a series by Vettriano featuring racing driver Malcolm Campbell in his land speed record-breaking car Bluebird. It was commissioned by the late designer and restaurateur Sir Terance Conran and hung in his Bluebird Restaurant in London, Vettriano's study for 'Self Portrait – Lost Soul', which fetched £11,500, showed the late artist dressed all in black standing with hands in his pockets under a Biblical quote reading: 'For what shall it profit a man, if he shall gain the whole world, and lose his own soul?' Meanwhile, the artist's 'Daytona Diner', painted in 1995 as a study for his famous larger work, 'Diner', fetched £14,100, and 'A Letter of Consequence', showing a man examining a note, was sold for £19,200. Another study titled 'The White Basque' was sold for £28,200 and Vettriano's 1996 painting 'Girls will be Boys' doubled its estimate by making £14,100. Bonhams, who had worked closely with Vettriano in the past, paid tribute to the 'people's painter' and led the sale with his work. May Matthews, Managing Director of Bonhams Scotland, said: 'Jack Vettriano's death is a great loss to Scottish art. 'His paintings are distinctive and original and what's more, they are familiar to the person in the street with little or no knowledge of Scottish art. In this he is perhaps unique, and why he has been given the title of 'the people's painter'. 'We've seen a lot of interest in Vettriano's work since his death, and it was no surprise that all six studies sold well.' Vettriano was born Jack Hoggan, in 1951, and raised in Methil, Fife. He famously took up painting as a hobby after a girlfriend bought him a set of watercolours for his 21st birthday in November 1972. By the time he came to prominence in 1988, he had adopted his mother's maiden name, Vettriano. Scotland's most commercially successful artist, his most famous painting, The Singing Butler, with figures dancing on a beach under a cloudy sky, was sold at auction in 2004 for £744,800. Like this: Like Related
Business Times
6 days ago
- Automotive
- Business Times
Factory that symbolised Nissan's rise may become victim of its decline
[YOKOSUKA, Japan] When Nissan's Oppama plant opened in 1961, it was one of Japan's first large-scale auto factories and a symbol of the company's global ambitions. Sixty-four years and millions of cars later, the storied plant now faces possible closure as Nissan sinks deeper into crisis. New chief executive Ivan Espinosa unveiled sweeping cost cuts this month that included plans to shed 15 per cent of the global workforce and close seven factories worldwide. Battered by declining sales in the United States and China, Nissan faces a mountain of debt repayment and is scrambling to upgrade its ageing line-up of vehicles. The Japanese automaker hasn't said which of its 17 plants will be closed. Reuters reported this month that Oppama, in the port city of Yokosuka south of Tokyo, was being considered, as was another, smaller plant in Japan. Factories in South Africa, India, Argentina and Mexico could also be closed, Reuters has reported. 'There won't be any big companies left,' said Kunito Watanabe, a longtime Yokosuka resident who has already seen supermarkets and a major bank close their doors. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Watanabe said he worked for a small trucking company and business was dependent on the Oppama plant. 'As long as they are making cars here, we're okay. But if that stops, my company will shut down.' Shuttering Oppama, long dubbed Nissan's 'mother factory', would be an almost incalculable blow for its 3,900 employees and their families, the city of Yokosuka, and Japan itself. Once the world leader in everything from chips to TVs and stereos, Japan is no longer dominant in electronics and semiconductors, making it more reliant on an auto industry increasingly threatened by Tesla and Chinese EV makers. Nissan's willingness to cut jobs at home is the latest sign that the lifetime-employment social contract that governed Japan's postwar era is slowly unravelling. Naval airfield Built on the site of a former Japanese naval airfield and roughly the size of more than 200 soccer fields, the Oppama factory includes a research centre, a test-drive course and a shipping hub. It was the birthplace of the Leaf, Nissan's first mass-market EV, which was launched in 2010. Production of that car, the world's top-selling EV model for years until it was eclipsed by Tesla, has since been moved to Tochigi, a refurbished plant that is not being considered for closure. Oppama used to produce the Bluebird, once one of Nissan's best known cars and sold as the Altima in the United States. Now it makes the smaller Note and Aura models. Nissan is Yokosuka's top employer and one of the city's major taxpayers, local officials said, making it an essential part of life in the city of 370,000 people. The factory represents Yokosuka's transition from a military to civilian economy during the post-war years. The US Navy still has a base in the city and the shipbuilding arm of Sumitomo Heavy Industries has a plant, although it has stopped taking new orders, according to its parent company. 'As Nissan grew and developed, the surrounding area developed as well,' said Kenji Muramatsu, a Yokosuka municipal official. 'The entire town was essentially built around the Oppama factory.' In the boom years of the early 1990s, new cars streamed off the production lines and the streets around Yokosuka were jammed with the vehicles of Nissan employees heading to and from work, Muramatsu recalled. Today, the area around the local train station is a mix of slightly shabby and shuttered low-rise buildings that are slated to be demolished for redevelopment. During Nissan's heyday, Yokosuka became known as one of several 'motor cities' in Japan. It was also home to a plant of a Toyota Group company which closed in 2000 and another Nissan plant, which shut in 2010. Workers at Nissan's Oppama plant in Yokosuka, Japan, May 23, 2025. PHOTO: REUTERS Typically, when Japanese factories close, workers are reassigned to other plants. Nissan is now offering early retirement to some employees. Hard time One Oppama worker, who spoke to Reuters on condition of anonymity, said Nissan had been asking for volunteers to take early retirement packages, focusing its attention on employees in administrative roles rather than on production lines. If the plant is closed, those who keep their jobs will potentially face the hard choice of living apart from their families or uprooting their households from Yokosuka, said the worker, who was in their 50s and had only ever worked for Nissan. A worker at Nissan's Oppama plant in Yokosuka, Japan, May 23, 2025. PHOTO: REUTERS Kaoru Takahashi first worked at the plant more than 40 years ago when she was still a teenager. In her twenties, she did another stint, removing rust spots from car bodies during production. She no longer works there, but said she knows people who do. 'I feel really bad for the workers who have families and children, who bought houses and have mortgages to pay,' she said. 'Subcontractors will also have a hard time,' she added, rattling off the sorts of service workers reliant on the factory for their livelihoods: rubbish collectors, cafeteria workers, cleaners. Akio Kamataki, 72, runs a bustling 'tachinomiya' (standing bar) near the station. It has been in business at the same spot since 1925, first as a ceramics shop and later as a general store. Kamataki likes to quip it is older than Nissan. 'The Oppama factory is a source of pride' for locals, he said. 'I still buy Nissan cars and I like them. I haven't driven other brands recently, but I like Nissan's brakes - the way they respond.' Decades ago, the Oppama plant would be mentioned in elementary school textbooks, he said. Kamataki had expected to close down for good in March because of the redevelopment project around the station area. But the project has since been pushed back. 'Now I wonder which will close first,' he said, with a grim laugh. 'The Nissan plant or my bar.' REUTERS
Yahoo
6 days ago
- Automotive
- Yahoo
Factory that symbolised Nissan's rise may become victim of its decline
By Daniel Leussink YOKOSUKA, Japan (Reuters) -When Nissan's Oppama plant opened in 1961, it was one of Japan's first large-scale auto factories and a symbol of the company's global ambitions. Sixty-four years and millions of cars later, the storied plant now faces possible closure as Nissan sinks deeper into crisis. New Chief Executive Ivan Espinosa unveiled sweeping cost cuts this month that included plans to shed 15% of the global workforce and close seven factories worldwide. Battered by declining sales in the United States and China, Nissan faces a mountain of debt repayment and is scrambling to upgrade its ageing line-up of vehicles. The Japanese automaker hasn't said which of its 17 plants will be closed. Reuters reported this month that Oppama, in the port city of Yokosuka south of Tokyo, was being considered, as was another, smaller plant in Japan. Factories in South Africa, India, Argentina and Mexico could also be closed, Reuters has reported. "There won't be any big companies left," said Kunito Watanabe, a longtime Yokosuka resident who has already seen supermarkets and a major bank close their doors. Watanabe said he worked for a small trucking company and business was dependent on the Oppama plant. "As long as they are making cars here, we're okay. But if that stops, my company will shut down." Shuttering Oppama, long dubbed Nissan's "mother factory", would be an almost incalculable blow for its 3,900 employees and their families, the city of Yokosuka, and Japan itself. Once the world leader in everything from chips to TVs and stereos, Japan is no longer dominant in electronics and semiconductors, making it more reliant on an auto industry increasingly threatened by Tesla and Chinese EV makers. Nissan's willingness to cut jobs at home is the latest sign that the lifetime-employment social contract that governed Japan's postwar era is slowly unravelling. NAVAL AIRFIELD Built on the site of a former Japanese naval airfield and roughly the size of more than 200 soccer fields, the Oppama factory includes a research centre, a test-drive course and a shipping hub. It was the birthplace of the Leaf, Nissan's first mass-market EV, which was launched in 2010. Production of that car, the world's top-selling EV model for years until it was eclipsed by Tesla, has since been moved to Tochigi, a refurbished plant that is not being considered for closure. Oppama used to produce the Bluebird, once one of Nissan's best known cars and sold as the Altima in the United States. Now it makes the smaller Note and Aura models. Nissan is Yokosuka's top employer and one of the city's major taxpayers, local officials said, making it an essential part of life in the city of 370,000 people. The factory represents Yokosuka's transition from a military to civilian economy during the post-war years. The U.S. Navy still has a base in the city and the shipbuilding arm of Sumitomo Heavy Industries has a plant, although it has stopped taking new orders, according to its parent company. "As Nissan grew and developed, the surrounding area developed as well," said Kenji Muramatsu, a Yokosuka municipal official. "The entire town was essentially built around the Oppama factory." In the boom years of the early 1990s, new cars streamed off the production lines and the streets around Yokosuka were jammed with the vehicles of Nissan employees heading to and from work, Muramatsu recalled. Today, the area around the local train station is a mix of slightly shabby and shuttered low-rise buildings that are slated to be demolished for redevelopment. During Nissan's heyday, Yokosuka became known as one of several "motor cities" in Japan. It was also home to a plant of a Toyota Group company which closed in 2000 and another Nissan plant, which shut in 2010. Typically, when Japanese factories close, workers are reassigned to other plants. Nissan is now offering early retirement to some employees. HARD TIME One Oppama worker, who spoke to Reuters on condition of anonymity, said Nissan had been asking for volunteers to take early retirement packages, focusing its attention on employees in administrative roles rather than on production lines. If the plant is closed, those who keep their jobs will potentially face the hard choice of living apart from their families or uprooting their households from Yokosuka, said the worker, who was in their 50s and had only ever worked for Nissan. Kaoru Takahashi first worked at the plant more than 40 years ago when she was still a teenager. In her twenties, she did another stint, removing rust spots from car bodies during production. She no longer works there, but said she knows people who do. "I feel really bad for the workers who have families and children, who bought houses and have mortgages to pay," she said. "Subcontractors will also have a hard time," she added, rattling off the sorts of service workers reliant on the factory for their livelihoods: rubbish collectors, cafeteria workers, cleaners. Akio Kamataki, 72, runs a bustling "tachinomiya" (standing bar) near the station. It has been in business at the same spot since 1925, first as a ceramics shop and later as a general store. Kamataki likes to quip it is older than Nissan. "The Oppama factory is a source of pride" for locals, he said. "I still buy Nissan cars and I like them. I haven't driven other brands recently, but I like Nissan's brakes - the way they respond." Decades ago, the Oppama plant would be mentioned in elementary school textbooks, he said. Kamataki had expected to close down for good in March because of the redevelopment project around the station area. But the project has since been pushed back. "Now I wonder which will close first," he said, with a grim laugh. "The Nissan plant or my bar." Sign in to access your portfolio
Business Wire
7 days ago
- Business
- Business Wire
Everstream Reaches Agreement for Sale of Business to Bluebird Fiber
CLEVELAND--(BUSINESS WIRE)--Everstream (the 'Company'), a business-only fiber network, today announced that it has reached an agreement to sell substantially all of its operations to an affiliate of Bluebird Fiber ('Bluebird'), a regional provider of fiber-based connectivity solutions for businesses. The transaction will enable the Company to advance its core market optimization strategy from a strengthened financial position. This step follows Everstream's sale of its Illinois and St. Louis metropolitan area networks and its previously announced plan to wind down its Pennsylvania operations. 'Over the last decade, Everstream has established itself as a leading provider of fiber connectivity across the Midwest and Mid-Atlantic, distinguished by our speed, reliability, and expert support,' Everstream CEO Ken Fitzpatrick said. 'As we focus on advancing our core market optimization strategy, we have determined that a sale of our business is the best path to ensure Everstream meets the evolving connectivity needs of the businesses we serve for years to come. Under new ownership, we can continue to invest responsibly across our core markets for the benefit of our valued customers, employees, and other stakeholders.' 'We share Everstream's passion for providing mission-critical, high-quality business fiber services and putting our customers at the center of everything we do,' Bluebird CEO Jason W. Adkins said. 'We are excited about the opportunity to benefit from Everstream's best-in-class network, complementary footprint, and talented team members.' To complete this value-maximizing transaction in an efficient manner, Everstream and certain of its affiliates commenced voluntary chapter 11 proceedings in the United States Bankruptcy Court for the Southern District of Texas (the 'Court'). During these proceedings, Everstream will operate as usual, serving its valued enterprise, wireless, and wholesale customers without interruption. The Company has secured a commitment for $55 million of new money debtor-in-possession (DIP) financing from certain of its existing lenders, which, subject to Court approval and when combined with cash on hand, will fund the business through completion of the sale. The 'stalking horse' agreement with Bluebird was reached following an extensive marketing process and provides for the purchase of substantially all assets as well as the assumption of certain liabilities. The Company is seeking approval of this agreement pursuant to section 363 of the Bankruptcy Code, thereby making it subject to higher or otherwise better offers from other interested parties. If Bluebird is ultimately the successful bidder, it intends to retain the vast majority of the Company's employees across Everstream's markets at close. Completion of the sale to Bluebird, if the successful bidder, is targeted by year end, subject to satisfaction of all closing conditions, including regulatory approvals. The Company is also filing with the Court a series of customary motions to maintain business-as-usual operations and uphold commitments to its stakeholders during the process. These 'first day' motions include requests to continue to pay wages and provide benefits to employees in the ordinary course as well as maintain existing customer programs. Suppliers and contractors will be paid in the ordinary course for authorized goods received and services rendered after the filing. Additional information about the chapter 11 cases and proposed sale can be found at Suppliers and contractors with questions can call (855) 761-1230 (toll-free) or +1 (725) 240-7006 (international) or email EverstreamInquiries@ Weil, Gotshal & Manges LLP is serving as legal advisor, Alvarez & Marsal North America, LLC is serving as restructuring advisor, Bank Street Group is serving as M&A advisor, PJT Partners LP is serving as investment banker, and Kekst CNC is serving as strategic communications advisor to the Company. Kirkland & Ellis LLP is serving as legal advisor, Leo Berwick is serving as financial due diligence and tax advisor, and TD Securities is serving as sole financial advisor to Bluebird Fiber. About Everstream® Everstream has raised the bar for business connectivity, delivering a business-only fiber network with the speed, reliability, scale and performance that today's enterprises demand. With approximately 24,000 route miles of fiber and speeds up to 100 Gbps, Everstream's enterprise-grade network delivers robust business fiber services, including dedicated internet access, dark fiber, Ethernet and data center solutions. Through its 'Do What You Say You Will Do' approach, Everstream is a valued partner dedicated to the success of business customers. For more information, visit About Bluebird Fiber Bluebird Fiber is a communications infrastructure provider and data center operator. Since 1999, Bluebird Fiber, headquartered in Missouri, has provided internet and transport services, via its fiber infrastructure, to Carriers and Enterprises in Missouri, Illinois, Kansas, Iowa, and the surrounding states. Bluebird owns two data centers: an underground facility in Springfield, MO, and a facility in the Quad Cities. Bluebird operates more than 11,000 fiber route miles of high-speed broadband and fiber-optic connections with over 82,000 on-net and near-net buildings and 163 Points of Presence (PoP) sites spanning the Midwest, including the major cities of Chicago, St. Louis, Kansas City, Springfield (MO and IL), Tulsa, Peoria, Bloomington, Normal and the Quad Cities. To learn more, please visit our website and follow us on LinkedIn, Facebook and X (formerly, Twitter).
Yahoo
7 days ago
- Business
- Yahoo
Everstream Reaches Agreement for Sale of Business to Bluebird Fiber
Provides Strengthened Financial Position to Advance Strategy of Core Market Optimization Customers to Continue Receiving Same Speed, Reliability, and Expert Support Commences Chapter 11 Proceedings to Complete Value-Maximizing Transaction Secures $55 Million in New Money DIP Financing to Support Ongoing Ordinary Course Operations CLEVELAND, May 28, 2025--(BUSINESS WIRE)--Everstream (the "Company"), a business-only fiber network, today announced that it has reached an agreement to sell substantially all of its operations to an affiliate of Bluebird Fiber ("Bluebird"), a regional provider of fiber-based connectivity solutions for businesses. The transaction will enable the Company to advance its core market optimization strategy from a strengthened financial position. This step follows Everstream's sale of its Illinois and St. Louis metropolitan area networks and its previously announced plan to wind down its Pennsylvania operations. "Over the last decade, Everstream has established itself as a leading provider of fiber connectivity across the Midwest and Mid-Atlantic, distinguished by our speed, reliability, and expert support," Everstream CEO Ken Fitzpatrick said. "As we focus on advancing our core market optimization strategy, we have determined that a sale of our business is the best path to ensure Everstream meets the evolving connectivity needs of the businesses we serve for years to come. Under new ownership, we can continue to invest responsibly across our core markets for the benefit of our valued customers, employees, and other stakeholders." "We share Everstream's passion for providing mission-critical, high-quality business fiber services and putting our customers at the center of everything we do," Bluebird CEO Jason W. Adkins said. "We are excited about the opportunity to benefit from Everstream's best-in-class network, complementary footprint, and talented team members." To complete this value-maximizing transaction in an efficient manner, Everstream and certain of its affiliates commenced voluntary chapter 11 proceedings in the United States Bankruptcy Court for the Southern District of Texas (the "Court"). During these proceedings, Everstream will operate as usual, serving its valued enterprise, wireless, and wholesale customers without interruption. The Company has secured a commitment for $55 million of new money debtor-in-possession (DIP) financing from certain of its existing lenders, which, subject to Court approval and when combined with cash on hand, will fund the business through completion of the sale. The "stalking horse" agreement with Bluebird was reached following an extensive marketing process and provides for the purchase of substantially all assets as well as the assumption of certain liabilities. The Company is seeking approval of this agreement pursuant to section 363 of the Bankruptcy Code, thereby making it subject to higher or otherwise better offers from other interested parties. If Bluebird is ultimately the successful bidder, it intends to retain the vast majority of the Company's employees across Everstream's markets at close. Completion of the sale to Bluebird, if the successful bidder, is targeted by year end, subject to satisfaction of all closing conditions, including regulatory approvals. The Company is also filing with the Court a series of customary motions to maintain business-as-usual operations and uphold commitments to its stakeholders during the process. These "first day" motions include requests to continue to pay wages and provide benefits to employees in the ordinary course as well as maintain existing customer programs. Suppliers and contractors will be paid in the ordinary course for authorized goods received and services rendered after the filing. Additional information about the chapter 11 cases and proposed sale can be found at Suppliers and contractors with questions can call (855) 761-1230 (toll-free) or +1 (725) 240-7006 (international) or email EverstreamInquiries@ Weil, Gotshal & Manges LLP is serving as legal advisor, Alvarez & Marsal North America, LLC is serving as restructuring advisor, Bank Street Group is serving as M&A advisor, PJT Partners LP is serving as investment banker, and Kekst CNC is serving as strategic communications advisor to the Company. Kirkland & Ellis LLP is serving as legal advisor, Leo Berwick is serving as financial due diligence and tax advisor, and TD Securities is serving as sole financial advisor to Bluebird Fiber. About Everstream® Everstream has raised the bar for business connectivity, delivering a business-only fiber network with the speed, reliability, scale and performance that today's enterprises demand. With approximately 24,000 route miles of fiber and speeds up to 100 Gbps, Everstream's enterprise-grade network delivers robust business fiber services, including dedicated internet access, dark fiber, Ethernet and data center solutions. Through its "Do What You Say You Will Do" approach, Everstream is a valued partner dedicated to the success of business customers. For more information, visit About Bluebird Fiber Bluebird Fiber is a communications infrastructure provider and data center operator. Since 1999, Bluebird Fiber, headquartered in Missouri, has provided internet and transport services, via its fiber infrastructure, to Carriers and Enterprises in Missouri, Illinois, Kansas, Iowa, and the surrounding states. Bluebird owns two data centers: an underground facility in Springfield, MO, and a facility in the Quad Cities. Bluebird operates more than 11,000 fiber route miles of high-speed broadband and fiber-optic connections with over 82,000 on-net and near-net buildings and 163 Points of Presence (PoP) sites spanning the Midwest, including the major cities of Chicago, St. Louis, Kansas City, Springfield (MO and IL), Tulsa, Peoria, Bloomington, Normal and the Quad Cities. To learn more, please visit our website and follow us on LinkedIn, Facebook and X (formerly, Twitter). View source version on Contacts Media Contacts:For EverstreamKekst CNCJeremy Fielding / Sherri L. Toub / Daniel HoadleyEverstreamMedia@ For Bluebird FiberJill 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
