Latest news with #Durkin
Chicago Tribune
17 hours ago
- General
- Chicago Tribune
Today in Chicago History: German sub U-505 — now housed at Museum of Science and Industry — captured by US Navy
Here's a look back at what happened in the Chicago area on June 4, according to the Tribune's archives. Is an important event missing from this date? Email us. Weather records (from the National Weather Service, Chicago) 1873: Alta May Hulett —then just 19 years old — became the first woman admitted to the Illinois bar and allowed to practice law in Illinois, according to the Illinois Supreme Court. The Chicago-based attorney received the first judgment in her client's favor on June 21, 1873. The case involved 'nothing very tragic nor pathetic,' the Tribune reported. 'It was not a case of a beautiful heiress seeking a divorce from a coal-heaver, or was there a widow and five children, — two at the breast, — and all staying, before the Court; nor was it a case in which a brutal husband broke all the china on the head of an afflicted, but affectionate, wife; it was not any of these; there was not a tear or a sigh, or a drop of blood, or a particle of sentiment, or a taste of lager in it from Alpha to Omega, — nothing to excite the sympathies or make the blood course faster, or the heart beat quicker, or the hair to stand on end. No, Frichka vs. Durkin was an exceedingly quiet case indeed.' 'Washerwoman' Martha Frichka rented space in her home on Madison Street to Mr. Durkin (no first name was given), who was a butcher. But when Durkin's partner left his business, he refused to pay rent. His reason: Why should a butcher pay money to a washerwoman? After Hulett spoke just 10 minutes at the start of the case and another 15 minutes during closing arguments, the jury of six men disappeared for just two minutes before returning with a verdict for the washerwoman. The Tribune praised Hulett's work in the courtroom but also noted the venue itself could use a good tidying-up. 'Now they are nothing but roofed spittoons. The floors are flooded with tobacco juice, and an odor of stale smoke, interspersed by beer and whisky fumes.' Hulett died of consumption (tuberculosis) just four years later. The Chicago Bar Association's award for outstanding lawyer is named in her honor. 1944: Germany's U-505 submarine was taken by American Task Group 22.3, near Africa. It was the first time since the 19th century the U.S. Navy had captured an enemy vessel at sea. Vintage Chicago Tribune: Move it, move it!!! Relocating houses, streets and even a submarine around the city.A decade later, the sub became a major exhibit at Chicago's Museum of Science and Industry. 1977: At least two people were killed and 15 Chicago police officers were hurt when a Puerto Rican celebration in Humboldt Park turned into a two-day riot along Division Street. Witnesses said trouble broke out after a Latin Kings street gang member was shot in the leg by a rival. When police tried to close the park, crowds hurled bricks, bottles, rocks, sticks, chairs and other debris, the Tribune reported. It was the worst violence in the area since 1966, when seven people were shot, dozens were hurt and 37 arrested during two nights of rioting. 1986: 'Vicious,' an independently produced play that reimagined what happened the night Sex Pistols bassist Sid Vicious murdered his girlfriend Nancy Spungen, premiered at Steppenwolf Theatre. Tribune critic Sid Smith panned the drama as 'no way fascinating.' But Smith admired the 'smooth, streetwise swagger' of a prostitute/dealer character named Champ, who was played by George Clooney. Subscribe to the free Vintage Chicago Tribune newsletter, join our Chicagoland history Facebook group, stay current with Today in Chicago History and follow us on Instagram for more from Chicago's past.
Chicago Tribune
22-05-2025
- Sport
- Chicago Tribune
Sandburg's Gabby Dittmer, who's headed to DePaul, lays down law with hat trick against Stagg. ‘Definitely special.'
Gabby Dittmer wasn't ready to play her last soccer game for Sandburg. Dittmer, a senior forward and a standout player in all four years for the Eagles, has decided to bypass some opportunities to play in college. She plans instead to study law at DePaul. That meant Wednesday's playoff opener could have been the end. Dittmer was determined to make sure it would not be. 'It's definitely special for me,' she said. 'I've been playing soccer my whole life and obviously I love soccer, so I was very excited for this game. You never know what's going to come next. It could be nothing or it could be another game. 'I really wanted another game.' Dittmer extended her final season by turning in one of the best performances of her career, recording a hat trick to lead Sandburg to a 3-1 win over district rival Stagg in a Class 3A Joliet Central Regional semifinal. Alanna Noone made six saves for the eighth-seeded Eagles (5-9-4), who avenged a 1-0 shootout loss to the Chargers on May 6. Maeve Durkin led a strong defensive effort. The Eagles will take on top-seeded Lincoln-Way East (16-3-1) — a 9-0 winner over Joliet Central — at 5 p.m. Friday in the regional final. Sandburg played the Griffins tough in a 1-0 loss on May 8. Justyna Palenica scored Wednesday on a free kick for ninth-seeded Stagg (7-12-2), while Maritza Alvarez made five saves. Dittmer, meanwhile, struggled mightily with her choice to give up soccer. 'It was probably one of the hardest decisions I've ever made,' she said. 'I love soccer so much. My family, my teammates and my coaches all put so much time into me and helped me get to where I am, so it's a really hard thing to walk away from. 'But for me, education came first when I wanted to think about my future.' Dittmer came out on a mission Wednesday night. She scored in the 16th minute, then added a second goal just over five minutes later by juking a defender and ripping in a 20-yard shot. Durkin has grown accustomed to seeing her teammate pull off moves like that. 'She's always been a special player,' Durkin said of Dittmer. 'Since freshman year, we've been playing together, and every time, her skill and her drive to want the ball and want to score the ball, it's always there. She has the energy 100% of the time.' Things later got a bit scary for the Eagles. Palenica scored with five seconds left in the first half. Then, with Stagg building momentum early in the second half, a red card against the Eagles put them down a player for the final 23 minutes. Dittmer, though, took the pressure off by completing her hat trick, converting a 25-yard shot with 18:11 to go. It was her 12th goal of the season and 52nd of her career. Sandburg coach Tom Kubowicz has enjoyed watching all 52 goals. 'It's going to be tough to replace her,' Kubowicz said. 'She doesn't need a lot of space. If you give her a chance to shoot, she's going to shoot and there's a good chance it's going to go in.' As for the future, Dittmer believes being a soccer player has prepared her for a tough academic journey. 'Soccer helped make me a very disciplined person and helped teach me hard work,' she said. 'I wanted to stay busy, challenge myself and be on a good career path. 'Everything I learned from soccer, I want to bring it to school, and I think it's a very good way for me to keep going with the hardworking mindset.' As for soccer, she's going out in style. 'I'm definitely taking everything in and trying to enjoy it,' Dittmer said. 'Ending in high school, with these girls and these coaches who have all meant so much to me, it's the perfect ending for me.'
Yahoo
16-05-2025
- Business
- Yahoo
Walmart price hike signals Trump's trade war is filtering through U.S. economy
Walmart's CEO warned Thursday morning that the world's biggest retailer will have to start raising prices later in May due to the high cost of tariffs. CBS News contributor J.D. Durkin joins "America Decides" with analysis from the New York Stock Exchange.
Business Wire
06-05-2025
- Business
- Business Wire
AG Mortgage Investment Trust, Inc. Reports First Quarter 2025 Results
NEW YORK--(BUSINESS WIRE)--AG Mortgage Investment Trust, Inc. ("MITT," "we," the "Company," or "our") (NYSE: MITT) today reported financial results for the quarter ended March 31, 2025. MANAGEMENT REMARKS 'Our first quarter results showcase the strength and stability of our core strategy, as evidenced by consistent book value and a healthy 2% economic return on equity for our shareholders,' said T.J. Durkin, Chief Executive Officer and President. 'Despite market volatility in March and April, MITT remains well-positioned to seize future opportunities, particularly through our disciplined approach to leverage and securitization and our vertically integrated mortgage originator, Arc Home.' Mr. Durkin continued, 'Additionally, I would like to recognize both Peter Linneman and Lisa G. Quateman, our former Board members who did not stand for re-election at our annual stockholders' meeting on May 5, 2025. On behalf of management and the Board, we sincerely thank them for their dedicated service and wish them both the very best in their future endeavors.' FIRST QUARTER FINANCIAL HIGHLIGHTS $10.65 Book Value per share as of March 31, 2025 (1) Quarterly economic return on equity of 2.0% (2) $0.21 of Net Income/(Loss) Available to Common Stockholders per diluted common share (3) $0.20 of Earnings Available for Distribution ("EAD") per diluted common share (3),(4) $0.20 dividend per common share declared in the first quarter 2025, representing a 5.3% increase over the fourth quarter 2024 dividend of $0.19 per common share INVESTING AND FINANCING HIGHLIGHTS $7.1 billion Investment Portfolio as of March 31, 2025 (5) 0.7% Net Interest Margin, which includes a 0.04% benefit from the net interest component of our interest rate swaps (6) $32.2 million investment in Arc Home as of March 31, 2025 determined using a valuation multiple of 1.00x book value (7) $6.7 billion of financing as of March 31, 2025 (5) $5.9 billion of non-recourse and $0.8 billion of recourse financing 12.4x GAAP Leverage Ratio and 1.6x Economic Leverage Ratio (8) $132.5 million of total liquidity as of March 31, 2025 (9) DIVIDENDS On March 17, 2025, declared a first quarter dividend of $0.20 per common share On May 5, 2025, declared quarterly cash dividends of $0.51563, $0.50, and $0.704864 per share on our Series A, Series B, and Series C Preferred Stock, respectively, payable on June 17, 2025 to preferred shareholders of record on May 30, 2025 STOCKHOLDER CALL The Company invites stockholders, prospective stockholders, and analysts to participate in MITT's first quarter earnings conference call on Tuesday, May 6, 2025 at 8:30 a.m. Eastern Time. To participate in the call by telephone, please dial (800) 343-4849 at least five minutes prior to the start time. International callers should dial (203) 518-9848. The Conference ID is MITTQ125. To listen to the live webcast of the conference call, please go to and register using the same Conference ID. The Company issued an earnings presentation detailing its first quarter 2025 financial results, which is available on the Company's website, under "Presentations" in the "News & Presentations" section. For those unable to listen to the live call, an audio replay will be available on May 6, 2025 through 9:00 a.m. Eastern Time on June 6, 2025. To access the replay, please go to the Company's website at ABOUT AG MORTGAGE INVESTMENT TRUST, INC. AG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. AG Mortgage Investment Trust, Inc. is externally managed and advised by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P., a diversified credit and real estate investing platform within TPG. Additional information can be found on the Company's website at ABOUT TPG ANGELO GORDON Founded in 1988, Angelo, Gordon & Co., L.P. ("TPG Angelo Gordon") is a diversified credit and real estate investing platform within TPG. The platform currently manages approximately $91 billion across a broad range of credit and real estate strategies. For more information, visit FORWARD LOOKING STATEMENTS This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Words such as "expects," "endeavor," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "should," "may," "projects," "could," "estimates," "continue" or variations of such words and other similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature, but not all forward-looking statements include such identifying words. Forward-looking statements are based on our beliefs, assumptions and expectations of our future operations, business strategies, performance, financial condition, liquidity and prospects, taking into account information currently available to us, and are not guarantees of future performance. Forward-looking statements regarding the Company include, but are not limited to, our levels of liquidity, the strength and stability of our core strategy, the consistency of our book value and ability to continue to produce a healthy economic return, and whether the Company is well positioned to take advantage of future opportunities, whether through its approach to leverage and securitization, Arc Home, or otherwise. These forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, without limitation, changes in general economic or market conditions, including changes in inflation, tariffs, interest rates and the fair value of our assets; changes in government regulations affecting our business; the Company's ability to grow its residential loan portfolio; changes in prepayment rates and mortgage default rates on the Company's assets; financing needs and arrangements; and the risk factors contained in the Company's filings with the Securities and Exchange Commission ("SEC"), including those described under the headings "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in other reports and documents filed by the Company with the SEC from time to time, which are accessible on the SEC's website, Moreover, other risks and uncertainties of which the Company is not currently aware may also affect the Company's forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. The forward-looking statements made in this press release are made only as of the date of this press release or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the Company on its website or otherwise. The Company undertakes no obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law. All financial information in this press release is as of March 31, 2025, unless otherwise indicated. NON-GAAP FINANCIAL MEASURES This press release contains EAD and Economic Leverage Ratio, non-GAAP financial measures. Our presentation of these measures may not be comparable to similarly-titled measures of other companies, who may use different calculations. These non-GAAP measures should not be considered a substitute for, or superior to, the financial measures calculated in accordance with GAAP. Our GAAP financial results and the reconciliations from these results should be carefully evaluated. A reconciliation of GAAP Net Income/(loss) available to common stockholders to EAD is set forth below (in thousands, except per share data). Economic Leverage Ratio (8) The calculation in the table below divides GAAP leverage and Economic Leverage by our GAAP stockholders' equity to derive our leverage ratios. The following table presents a reconciliation of our GAAP Leverage ratio to our Economic Leverage ratio ($ in thousands). Footnotes (1) Book value is calculated using stockholders' equity less the liquidation preference of our cumulative redeemable preferred stock of $228.0 million. (2) The economic return on equity represents the change in book value per share during the period, plus the common dividends per share declared over the period, divided by book value per share from the prior period. (3) Diluted per share figures are calculated using diluted weighted average outstanding shares in accordance with GAAP. (4) We define EAD, a non-GAAP financial measure, as Net Income/(loss) available to common stockholders excluding (i) (a) unrealized gains/(losses) on loans, real estate securities, derivatives and other investments, inclusive of our investment in AG Arc, and (b) net realized gains/(losses) on the sale or termination of such instruments, (ii) any transaction related expenses incurred in connection with the acquisition, disposition, or securitization of our investments as well as transaction related expenses incurred in connection with the WMC acquisition, (iii) accrued deal-related performance fees payable to third party operators to the extent the primary component of the accrual relates to items that are excluded from EAD, such as unrealized and realized gains/(losses), (iv) realized and unrealized changes in the fair value of Arc Home's net mortgage servicing rights and the derivatives intended to offset changes in the fair value of those net mortgage servicing rights, (v) deferred taxes recognized at our taxable REIT subsidiaries, if any, (vi) any bargain purchase gains recognized, and (vii) certain other nonrecurring gains or losses. Items (i) through (vii) above include any amount related to those items held in affiliated entities. Transaction related expenses referenced in (ii) above are primarily comprised of costs incurred prior to or at the time of executing our securitizations and acquiring or disposing of residential mortgage loans. These costs are nonrecurring and may include underwriting fees, legal fees, diligence fees, and other similar transaction related expenses. Recurring expenses, such as servicing fees, custodial fees, trustee fees and other similar ongoing fees are not excluded from earnings available for distribution. Management considers the transaction related expenses to be similar to realized losses incurred at the acquisition, disposition, or securitization of an asset and does not view them as being part of its core operations. Management views the exclusion described in (iv) above to be consistent with how it calculates EAD on the remainder of its portfolio. Management excludes all deferred taxes because it believes deferred taxes are not representative of current operations. EAD includes the net interest income and other income earned on our investments on a yield adjusted basis, including TBA dollar roll income/(loss) or any other investment activity that may earn or pay net interest or its economic equivalent. (5) Our Investment Portfolio consists of Residential Investments, Agency RMBS, and WMC Legacy Commercial Investments, all of which are held at fair value. Our financing is inclusive of Securitized Debt, which is held at fair value, Financing Arrangements, and Senior Unsecured Notes. Throughout this press release where we disclose our Investment Portfolio and the related financing, we have presented this information inclusive of (i) securities owned through investments in affiliates that are accounted for under GAAP using the equity method and, where applicable, (ii) long positions in TBAs, which are accounted for as derivatives under GAAP. This press release excludes investments through AG Arc LLC unless otherwise noted. (6) Net interest margin is calculated by subtracting the weighted average cost of funds on our financing from the weighted average yield for our Investment Portfolio, which excludes cash held. (7) We invest in Arc Home LLC, a licensed mortgage originator, through AG Arc LLC, one of our equity method investees. Our investment in AG Arc LLC represents a 44.6% ownership interest. (8) We define GAAP leverage as the sum of (1) GAAP Securitized debt, at fair value, (2) GAAP Financing arrangements, net of any restricted cash posted on such financing arrangements, (3) Senior Unsecured Notes, and (4) the amount payable on purchases that have not yet settled less the financing remaining on sales that have not yet settled. We define Economic Leverage, a non-GAAP metric, as the sum of our GAAP leverage, exclusive of any fully non-recourse financing arrangements, and our net TBA position (at cost), if any. Our leverage does not include any financing utilized through AG Arc. (9) Total liquidity includes $115.5 million of cash and cash equivalents and $17.0 million of unencumbered Agency RMBS. Expand
Chicago Tribune
29-03-2025
- Sport
- Chicago Tribune
Drew Drzonek gets kick out of late-inning situations as a relief pitcher for Sandburg. ‘It's all eyes on you.'
Pitching with a one-run lead in the seventh inning is no sweat for Sandburg's Drew Drzonek. Drzonek, a junior utility player, has plenty of experience in big moments. He's a three-sport athlete who pulls double duty in the fall, playing soccer and kicking for the football team. 'Kicking and pitching are very similar, because with both, it's just you out there and it's all eyes on you,' Drzonek said. 'If I can handle the pressure when I'm kicking and know that my snapper and holder are going to get the job done, I can translate that to baseball and knowing that my fielders are going to do the job as long as I can make the pitch.' Drzonek was ready for the big moment Friday, pitching out of some tough situations to earn the win with two innings of scoreless relief in lifting the host Eagles to a 3-2 victory over Richards in Orland Park. Giovanni Longo walked and scored on a wild pitch to break a 2-2 tie in the bottom of the sixth for Sandburg (3-1). Quinn Durkin went 3-for-4 with a double and scored a run, while Nick Morsovillo delivered an RBI double. Ethan Neakarse turned in a strong start for the Eagles, allowing one earned run on four hits and striking out five in five-plus innings. Illinois-Chicago recruit Sean Cody threw three scoreless innings for Richards (2-2), striking out five and allowing three hits. Noah Escobedo went 2-for-3 with a double and Jason Campbell contributed a single and an RBI. Drzonek came in with a runner on first and no outs in the top of the sixth and walked the first two batters he faced to load the bases. But he got out of it allowing just one run, then shut the Bulldogs down in the seventh to secure the win. Sandburg coach Jim Morsovillo was confident Drzonek would be ready for a late-inning role. 'Going into the season, we thought he could be that guy to kind of come in for clutch situations,' Morsovillo said. 'When you've got to go out there and kick field goals and stuff like that, we know he can handle the pressure. 'We've got to throw more strikes, but he hung in there and battled and got the job done.' Drzonek, who has played baseball his whole life, has always had a love for soccer. Kicking has turned into his new passion over the last few years. 'I started kicking in eighth grade,' he said. 'I was a big soccer guy and I went to St. Michael, which has a football team. They wanted me to come out and be their kicker, so I tried it out. 'Now, I've been going to a few showcases and getting my name out there. I'm hoping to have a future in kicking.' Durkin and Nick Morsovillo helped set the stage for Drzonek to close out the win Friday. Batting out of the leadoff spot, Durkin sparked the Eagles with two singles and a double. Nick Morsovillo drove in Durkin with a fifth-inning double. 'I just know we need men on base to start,' Durkin said. 'I do it as much as I can. It doesn't matter how I get on as long as I do. Getting on for 'Morso' to drive me in and start our scoring, that was pretty big.' Drzonek took care of the rest. He's also an infielder who is ready to put his versatility to use this season. 'I'm used to playing different positions, but this year I feel like I'm going to be changing more, plus coming into pitch when they need me, and it's more of a dice roll for where I'm going to be playing. 'So, I just always have to be ready for anything.'
