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CBS News
an hour ago
- Climate
- CBS News
Multiple injured in lightning strikes as severe storms slam North Texas
Severe storms tore through the Dallas-Fort Worth area overnight, leaving widespread damage from south Fort Worth to Arlington. The storms brought strong winds, heavy rain, and large hail. In Everman, hail shattered windshields, damaged rooftops, and scattered debris across yards. CBS News Texas "It was a little bigger than a golf ball," said resident Lorena Perez. "We were on a walk with the dog, and it was just all of a sudden. We weren't expecting hail, and we had to take shelter." The storm also knocked down trees and shattered car windows, leaving many residents with major cleanup efforts. Maintenance crews were out early Monday, making repairs. Dangerous lightning accompanied the hail. At Mustang Park on Lake Benbrook, 14 people huddled under a canopy were struck by lightning around 8:20 p.m., officials said. The canopy acted as a conductor, shocking everyone beneath it. "When the lightning went through the canopy, it went through all of them," said Ron Becker, chief of the Cresson Fire Department. "All of them were initially numbed and certainly affected by it." Two people were hospitalized, while others were treated at the scene or sought care on their own. "You want to get into a structure; you don't want to be in a temporary outbuilding," said paramedic Traci Becker. In nearby Willow Park, a man standing outside his home was also struck by lightning and transported to the hospital, according to Blake Rexroat with the Parker County Hospital District. While lightning strikes are rare, officials emphasized they remain a serious threat. "Lightning is a top risk during a storm," Rexroat said. Authorities urge residents to stay weather-aware during severe weather events.
Free Malaysia Today
an hour ago
- Business
- Free Malaysia Today
US judge cancels planned Boeing trial over 737 crashes
Boeing will contribute US$444.5 million to support crash victims and invest US$455 million to improve compliance, safety, and quality programmes. (EPA Images pic) NEW YORK : A US federal judge on Monday cancelled the planned trial of US aviation giant Boeing over crashes of its 737 MAX aircraft that left nearly 350 people dead. The trial had been scheduled to begin June 23, but the justice department and Boeing reached a preliminary agreement last month to settle the long-running criminal probe into the accidents. US District judge Reed O'Connor granted the request of both parties to vacate the trial date and cancelled the criminal trial which had been scheduled to be held in Fort Worth, Texas. But the judge still must give his final approval to the settlement and he could reschedule a trial if he fails to give the deal his green light. Under the agreement, which has drawn condemnation from some families of crash victims, Boeing will pay US$1.1 billion and the justice department will dismiss a criminal charge over the company's conduct in the certification of the MAX. The agreement resolves the case without requiring Boeing to plead guilty to fraud in the certification of the MAX, which was involved in two crashes in 2018 and 2019 that claimed 346 lives – a Lion Air plane and an Ethiopian Airlines aircraft. The justice department described it as 'a fair and just resolution that serves the public interest.' 'The agreement guarantees further accountability and substantial benefits from Boeing immediately, while avoiding the uncertainty and litigation risk presented by proceeding to trial,' it said. Family members of some MAX victims slammed the proposed settlement, however, as a giveaway to Boeing. 'This kind of non-prosecution deal is unprecedented and obviously wrong for the deadliest corporate crime in US history,' Paul Cassell, an attorney representing relatives of victims, said when the settlement was announced. The justice department cited other family members who expressed a desire for closure, quoting one who said 'the grief resurfaces every time this case is discussed in court or other forums.' The preliminary agreement was the latest development in a marathon case that came in the wake of crashes that tarnished Boeing's reputation and contributed to leadership shakeups at the aviation giant. The case dates to a January 2021 justice department agreement with Boeing that settled charges that the company knowingly defrauded the federal aviation administration during the MAX certification. The 2021 accord included a three-year probation period. But in May 2024, the justice department determined that Boeing had violated the 2021 accord following a number of subsequent safety lapses. Boeing agreed in July 2024 to plead guilty to 'conspiracy to defraud the United States.' But in December, Judge O'Connor rejected a settlement codifying the guilty plea, setting the stage for the incoming Trump administration to decide the next steps. The deal announced in May requires Boeing to pay a fine of US$487.2 million with credit for a US$243 million penalty the company paid previously under the January 2021 agreement. Boeing will contribute US$444.5 million to a fund to benefit crash victims and lay out US$455 million to strengthen its compliance, safety and quality programmes.
Associated Press
10 hours ago
- Business
- Associated Press
Mouser Electronics Awarded Distributor of the Year Honors from OMRON Electronic Components for Fifth Consecutive Year
DALLAS & FORT WORTH, Texas--(BUSINESS WIRE)--Jun 2, 2025-- Mouser Electronics, Inc., the authorized global distributor with the newest electronic components and industrial automation products, today announced it has been named 2024 E-Catalog Distributor of the Year by OMRON Electronic Components. This is the fifth consecutive year that Mouser has been named the digital award winner. This press release features multimedia. View the full release here: Representatives from Omron present the Mouser team with the 2024 E-Catalog Distributor of the Year Award. As part of the recognition package of the Distributor of the Year program, OMRON Electronic Components will make a financial donation in honor of recipient winner companies. For Mouser's 2024 E-Catalog Distributor of the Year recognition, OMRON Electronic Components will donate $5,000 to the Mansfield (Texas) Independent School District Education Foundation to support local teachers and students in Mouser's community. Mouser regularly supports the MISD Education Foundation with technology grants to enhance science, technology, engineering and math (STEM) education and engaging opportunities for students. 'I truly appreciate our valued partnership with Mouser and the remarkable growth we've achieved together and look forward to continued success,' said Jill Wagar, Distribution Sales Manager, OMRON Electronic Components. 'Mouser is committed to investing and promoting our reliable products and problem-solving technologies, and this has led to impressive revenue growth and continued expansion of our customer base. 'The entire Mouser team sincerely appreciates this tremendous recognition,' said Eric Wendt, Vice President of Supplier Management at Mouser Electronics. 'Winning this award for the fifth time is an amazing honor. We greatly value our partnership with OMRON Electronic Components and appreciate this opportunity to give back to our community and support our local students.' Mouser stocks a wide selection of OMRON Electronic Components, including switches, relays, connectors, optoelectronics and sensors that are used in consumer electronics, computer peripherals, industrial automation products and telecom applications. To learn more, visit For more Mouser news and our latest new product introductions, visit As a global authorized distributor, Mouser offers the widest selection of the newest semiconductors, electronic components and industrial automation products. Mouser's customers can expect 100% certified, genuine products that are fully traceable from each of its manufacturer partners. To help speed customers' designs, Mouser's website hosts an extensive library of technical resources, including a Technical Resource Center, along with product data sheets, supplier-specific reference designs, application notes, technical design information, engineering tools and other helpful information. Engineers can stay abreast of today's exciting product, technology and application news through Mouser's complimentary e-newsletter. Mouser's email news and reference subscriptions are customizable to the unique and changing project needs of customers and subscribers. No other distributor gives engineers this much customization and control over the information they receive. Learn about emerging technologies, product trends and more by signing up today at About Mouser Electronics Mouser Electronics is an authorized semiconductor and electronic component distributor focused on New Product Introductions from its leading manufacturer partners. Serving the global electronic design engineer and buyer community, the global distributor's website, is available in multiple languages and currencies and features more than 6.8 million products from over 1,200 manufacturer brands. Mouser offers 28 support locations worldwide to provide best-in-class customer service in local language, currency and time zone. The distributor ships to over 650,000 customers in 223 countries/territories from its 1 million-square-foot, state-of-the-art distribution facilities in the Dallas, Texas, metro area. For more information, visit About Omron Omron is the world's leading supplier of technologically advanced electronic components. Omron's vast product line includes switches (general, snap-action, control, DIP/SIP, miniature, sub-miniature, and thumbwheel), relays, connectors, optoelectronics, and sensors that are used in consumer electronics, computer peripherals, office automation products, and telecom applications. Omron Industrial Automation supplies the world with advanced electronics and control system components, including switches, relays, power supplies, sensors, calibration equipment, and cable assemblies. Omron is a global leader in RFID technology with their extensive range of reliable products and systems, such as inlays, readers/writers, transponders, development tools, and accessories. Trademarks Mouser and Mouser Electronics are registered trademarks of Mouser Electronics, Inc. All other products, logos, and company names mentioned herein may be trademarks of their respective owners. View source version on CONTACT: For further information, contact: Kevin Hess, Mouser Electronics Senior Vice President of Marketing +1 (817) 804-3833 [email protected] press inquiries, contact: Kelly DeGarmo, Mouser Electronics Manager, Corporate Communications and Media Relations +1 (817) 804-7764 [email protected] KEYWORD: TEXAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ELECTRONIC DESIGN AUTOMATION ENGINEERING SEMICONDUCTOR CONSUMER ELECTRONICS TECHNOLOGY MANUFACTURING HARDWARE SOURCE: Mouser Electronics, Inc. Copyright Business Wire 2025. PUB: 06/02/2025 11:08 AM/DISC: 06/02/2025 11:07 AM
Associated Press
13 hours ago
- Business
- Associated Press
Askeladden Capital Announces AstroNova 'Town Hall' Forum
All AstroNova Stakeholders Invited to Meet and Interact with Askeladden's Board Candidates Askeladden Nominees Have Specific and Relevant Expertise to Execute Askeladden's Plan to Maximize Value Transdigm's Recently Raised Bid for Aerospace Components Company Servotronics Highlights Potential to Unlock Value at AstroNova with Better Governance FORT WORTH, TX / ACCESS Newswire / June 2, 2025 / Dear AstroNova stakeholders: I write to you as the founder and portfolio manager of Askeladden Capital (collectively, 'we,') which is AstroNova's largest shareholder, owning approximately 9.2% of the company on behalf of our clients. In an effort to improve AstroNova's performance for the benefit of shareholders, employees, and all other stakeholders, we have nominated five highly qualified individuals for election to AstroNova's Board of Directors at the company's Annual Meeting, scheduled for July 9, 2025. We invite you to join an Investor Forum where shareholders, employees, and all other interested parties can interact directly with our nominees. After a brief introduction and panel discussion of approximately 20 minutes, we will open up the call for Q&A. We will conduct this 'town hall' style meeting virtually via Zoom at 11:00 AM Eastern Time (10:00 AM Central Time) on Thursday, June 12, 2025. You can register here : Please contact Samir Patel via [email protected] if you have any trouble registering. Attendees will have the option to remain anonymous to all parties other than the host. Those who cannot attend live are also invited to email us with written questions that we will read and answer during the town hall as time permits. A recording of the call will subsequently be made available. We encourage candid and detailed questions - the more challenging the better - about our research, our plan, our nominees' backgrounds, and how we will work as a team to maximize the value of AstroNova for all. Please ask similar questions of the incumbents, then vote based on whose answers you find more compelling. Askeladden has researched AstroNova since 2016 and been a 5% shareholder since 2020. Since March, we have spoken to over 15 individuals, ranging from former employees to suppliers and other industry veterans, to deepen our understanding of the company. In the near future, we will share selected research findings with AstroNova shareholders. We believe AstroNova has many strengths, such as a large installed base and many talented employees. Unfortunately, we believe that these attractive qualities have been overwhelmed by poor governance and management by the incumbent Board, and CEO Greg Woods, which has harmed shareholders and employees alike. In FY2025, the company reported Adjusted EBITDA of $12.3 million, substantially below FY2024's $17.6 million and FY2025 original guidance of ~$21 million at the midpoint. [1] The company's May 2024 acquisition of MTEX should have further enhanced profitability - instead, the CEO and Board's decision to spend $18.7 million in cash and assume additional debt [2] to fund this acquisition harmed both shareholders and employees. The share price fell almost 50% over the ensuing year, [3] while employees have faced layoffs. [4] In FY2025, MTEX generated an operating loss of $16.9 million, including a goodwill impairment of $13.4 million, and the company subsequently discontinued 70% of MTEX's product portfolio. [5][6] As a result of the lower earnings and increased debt due to the MTEX acquisition, the company breached its debt covenants and suffered an event of default under its credit facility during the quarter ended January 31, 2025 (thus forcing AstroNova to seek a waiver from its lender, which was subsequently granted). [7] While CEO Greg Woods retains his job despite this self-inflicted debacle, many AstroNova employees were not so lucky: on March 20, 2025, the company announced 'the reduction of approximately 10% of the Company's global workforce, primarily in the PI [Product Identification] segment.' [8] Through no fault of their own, rather than enjoying the profit-sharing and career growth opportunities that a well-managed company should provide, 10% of AstroNova employees lost their jobs. Despite these missteps, incumbents appear to be doubling down on this failed strategy, and have refused to engage with Askeladden's efforts to improve the company's performance. We recently published a 20-page document including our specific, research-based plan for improving AstroNova's performance, as well as relevant background information on the company's performance and governance. We believe that our nominees have specific and relevant qualifications to address the current challenges faced by AstroNova. Below is their biographical information. Shawn Kravetz. Mr. Kravetz has relevant experience as a change agent under similar circumstances. He joined the Board of Nevada Gold & Casinos, Inc. as a large shareholder frustrated by performance, including a recent acquisition. He served from 2016 until Nevada Gold was sold in 2019, including Chairman of the Corporate Governance and Nominating Committee. Mr. Kravetz was recently nominated for election to the Board of publicly traded Spruce Power Holding Corporation by the company's Nominating and Governance Committee. [9] Jeff Sands. As Mr. Sands discusses in his book, 'Corporate Turnaround Artistry: Fix Any Business in 100 Days,' he has successfully used techniques included in our plan to restore profitability at numerous businesses, including some merely weeks away from lender-forced liquidation. He has won the Turnaround Management Association 'Turnaround of the Year' award three times. Mr. Sands has successfully worked with businesses such as a $100M supplier of aerospace components to Boeing (~2x the size of AstroNova's Aerospace segment), as well as complex and capital-intensive businesses such as steel and pharmaceuticals. Given AstroNova's significant recent decline in profitability and elevated inventory balances, Mr. Sands' experience in driving rapid cash flow improvement is extremely relevant. Mr. Sands has been involved in the sale of numerous private companies. Ryan Oviatt. Mr. Oviatt has extensive experience - as CFO, CEO, and Board Member of Profire - of managing an industrial products business for margin and cash flow in the highly cyclical energy market. Mr. Oviatt managed a team that used techniques such as automation of manual processes and key administrative functions, customer outreach, and performance-based incentive compensation programs designed to instill a sense of ownership throughout the company. Mr. Oviatt helped lead the successful sale of Profire to a strategic public-company buyer, CECO Environmental. After multiple rounds of negotiation, Profire successfully achieved a final offer price 27.5% higher than CECO's original offer, and an all-cash deal rather than the original offer of 75% cash and 25% stock. This final offer represented a 60.3% premium to Profire's volume-weighted average share price over the 30 days prior to the Board approving the merger. [10] Boyd Roberts. Mr. Roberts was the youngest member of the executive team at Franklin Covey (FC) and has integrated and substantially grown an acquired division, with ownership of full P&Ls and high employee net promoter scores. Mr. Roberts has extensive experience with Franklin Covey's customer-focused recurring-revenue business model. Mr. Roberts is fluent in Portuguese. His linguistic and cultural strengths uniquely qualify him to address the challenging MTEX acquisition, which we believe has suffered due to a cultural mismatch between the labor force at its facility in Porto in northern Portugal, and AstroNova's American business culture. [11] Samir Patel. As AstroNova's largest shareholder, who has researched the business since 2016, I am deeply familiar with the company's ongoing (flawed) strategy, contrary to the company's misleading assertion that the company will be damaged by a new Board 'unacquainted with recent decision-making .' [12] I will ensure that AstroNova's operational and capital allocation decisions consistently maximize shareholder value. As a point of comparison on what AstroNova could potentially be worth with better governance, we note that Servotronics (SVT), a global designer and manufacturer of servo controls and other components for aerospace and defense applications, announced a merger with large aerospace manufacturer Transdigm (TDG) for $110 million in cash on May 19, 2025, and subsequently raised the offer price by ~22% from $38.50 to $47.00 after Servotronics received another offer from a competing bidder, suggesting significant interest in the business at that valuation. [13] Even the original offer price - let alone the subsequent increase - is almost identical to AstroNova's entire enterprise value as of May 20, 2025. [14][15] At the original offer price, the all-cash transaction represented a 274% premium to Servotronics' share price at the prior close. For the fiscal year 2024, Servotronics generated $44.9 million in revenue with only $8.2 million in gross profit and less than $1 million in Adjusted EBITDA. [16] Meanwhile, for its FY2025 which ended a month later, AstroNova's Test and Measurement segment (subsequently renamed Aerospace) generated a slightly higher $48.9 million in revenues with a much higher $11.1 million in segment operating profit. It seems reasonable to assume that a buyer evaluating these two businesses side by side would assign a higher valuation to AstroNova Aerospace given its modestly higher revenues and substantially higher profits. In other words (and apart from any tax considerations), that would imply that if AstroNova Aerospace was sold at a similar value to Servotronics' original agreement - let alone the higher subsequent agreement raising the offer amount by over 20% - AstroNova could pay off all its debt and return cash to shareholders equivalent to roughly the current share price. Shareholders would then still own the entire Product Identification segment, with slightly over $100 million in annual revenues generated each of the past three fiscal years, which is clearly worth substantially more than the zero or even negative value implied if Servotronics' valuation is applied to AstroNova Aerospace. [17] While the Servotronics transaction is merely one data point, it demonstrates the potential value if AstroNova implements the strategy we have developed - which we recently presented in our public plan - rather than doubling down on a strategy promoted by the value-destroying incumbent CEO and Board. In the more than eleven years from February 1, 2014 (when Mr. Woods became CEO) through May 15, 2025 (the record date of this year's Annual Meeting), AstroNova shares have experienced a total return of negative 28%. [18] You can find further information about the upcoming board election, scheduled for July 9, 2025, at the AstroNova page on the Askeladden Capital website : These documents will also be available at no cost at . As stated previously, the 'town hall' will occur virtually via Zoom at 11:00 AM Eastern Time (10:00 AM Central Time) on Thursday, June 12, 2025. You can register here : Please feel free to reach out to me with any questions or comments, at [email protected] or (682) 553-8302. We look forward to earning your vote. Cordially, Samir Patel Founder and Portfolio Manager, Askeladden Capital Samir Patel, Askeladden Capital Management LLC, Jeff Sands, Shawn Kravetz, Ryan Oviatt and Boyd Roberts (collectively the 'Participants') filed a definitive proxy statement and accompanying proxy card with the SEC on May 20, 2025, as amended on May 21, 2025, to be used in soliciting proxies in connection with the 2025 annual meeting of shareholders (the 'Annual Meeting') of AstroNova, Inc. (the 'Company'). All shareholders of the Company are advised to read the Proxy Statement and other documents related to the solicitation of proxies, each in connection with the Annual Meeting, by the Participants, as they contain important information, including additional information related to the Participants, including a description of their direct or indirect interests by security holdings or otherwise. The Proxy Statement and an accompanying GOLD proxy card will be furnished to some or all of the Company's stockholders and is, along with other relevant documents, available at no charge on the SEC website at or by contacting Samir Patel at 1452 Hughes Road, Suite 200 #582, Grapevine, TX, 76051. [1] Q4 FY2024 and Q4 FY2025 Earnings Release. [2] FY2025 Form 10-K filed April 15, 2025. [3] Stock price data from YCharts. [4] FY2025 Form 10-K, page 24. [5] AstroNova Form 10-K for FY2025. Impairment discussed on page 11; purchase price discussed on page 15. [6] MTEX Acquisition Announcement and Conference Call Transcript (May 9, 2024) and FY2025 Form 10-K filed April 15, 2025. [7] Form 8-K Earnings filed March 21, 2025. [8] FY2025 Form 10-K, page 24. [9] Spruce Power Holding Corp Definitive Proxy, page 10. [10] Profire Energy (PFIE) SC14D9 dated December 3, 2024. Section 'Background of the Offer and the Merger' on pages 9 - 16. [11] 'The American work culture focuses on ambition… in Portugal, there is a more collective approach to work and less pressure… [people] tend to place greater importance on personal well-being, family time, and life outside of work.' LXUS (Corporate Relocation service provider.) [12] Letter accompanying AstroNova's definitive proxy statement, filed May 19, 2025. [13] 'TransDigm raises offer price for Servotronics to $47/share.' Seeking Alpha. May 29, 2025. [14] 'Transdigm to Acquire Servotronics For About $110 million.' Nasdaq. May 19, 2025. [15] Per data sources such as Seeking Alpha, ALOT shares closed at $9.12 on May 20, 2025. The company's recent definitive proxy statement, filed May 19, 2025, discloses a recent sharecount of approximately 7.6 million shares, for a market cap of approximately $69 million as of that date. AstroNova's Form 10-K filed April 15, 2025 discloses $20.9 million outstanding on the revolving credit facility, $6.1 million in current long-term debt, $0.6 million in short-term debt, and $19 million in long-term debt, for a total of $46.6 million in gross debt. The same Form 10-K disclosed $5 million of cash and equivalents, making net debt $41.6 million. The sum of $41 million and $69 million is approximately $110 million. [16] Form 10-K for Servotronics SVT filed March 17, 2025. [17] AstroNova Form 10-K for FY2025, filed April 15, 2025. Page 24. [18] Data from YChart Samir Patel [email protected] (682) 553-8302 SOURCE: Askeladden Capital Management LLC press release
CBS News
14 hours ago
- General
- CBS News
I-35W heading into Fort Worth shut down near Texas Motor Speedway due to crash
I-35W heading into Fort Worth shut down due to crash I-35W heading into Fort Worth shut down due to crash I-35W heading into Fort Worth shut down due to crash The southbound lanes of I-35W by Texas Motor Speedway shut down early Monday morning due to a crash involving an 18-wheeler. The crash was reported around 5 a.m. on I-35W between Dale Earnhardt Way and Mark Martin Drive. This portion of the highway has two lanes. According to the Texas Department of Transportation website, the level of severity of the crash is high. At around 6 a.m., traffic was backed up to Cross Timbers Road. TxDOT has not said when the lanes will reopen.
