Latest news with #Mendelson
Yahoo
10 hours ago
- Business
- Yahoo
HEICO Corporation (HEI) Acquires Gables Engineering
HEICO Corporation (NYSE:HEI) is among the 10 Best Aerospace Stocks to Buy Now. On July 24, the company announced the acquisition of Gables Engineering, Inc., a leading provider of advanced avionics controls, for cash at closing. While further financial details were not stated, HEICO Corporation (NYSE:HEI) said that it expects the acquisition to be accretive to earnings within a year of purchase. The company's Executive Chairman, Laurans A. Mendelson, Eric A. Mendelson, and Victor H. Mendelson, the two co-CEOs, stated the following in a joint statement: 'Gables Engineering is a natural fit for HEICO's culture of performance, innovation, and long-term growth. Located close to HEICO's headquarters and numerous other HEICO facilities, this acquisition reinforces our commitment to investing in high-quality, American manufacturing and engineering excellence.' Gables Engineering performs key manufacturing and engineering functions in its facility in Coral Gables. It is recognized as a pioneering aviation innovator, having developed advanced solutions for several leading aerospace platforms, including Boeing, for which it recently built modern touchscreen cockpit displays for the 737 MAX. HEICO Corporation (NYSE:HEI) is an aerospace and technology company that manufactures jet engines and aircraft parts. It also supports the government through activities such as reverse engineering, manufacturing aircraft engines and parts, and repair and maintenance services. While we acknowledge the potential of HEI 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: 13 Best Global Stocks to Buy Right Now and 10 Best Small Cap Defense Stocks to Buy According to Hedge Funds. Disclosure: None.
CBS News
6 days ago
- Politics
- CBS News
Despite Trump's threat to block new Washington Commanders' stadium, D.C. council announces deal
The Washington, D.C., city council chairman announced Thursday that a deal has been reached between the city and the Washington Commanders on an amended stadium agreement, despite threats earlier this week from President Trump to block any deal. The NFL team is in negotiations with the district over their plans to build a new stadium at the RFK Stadium site in D.C. 30 years after decamping to Maryland, but the proposal faces myriad challenges up ahead. Mr. Trump said on July 20 that if the Commanders "don't change the name back to the original 'Washington Redskins,' and get rid of the ridiculous moniker, 'Washington Commanders,' I won't make a deal for them to build a Stadium in Washington." The team changed their name from the "Washington Redskins" five years ago, as the term is widely considered a racist slur against Native Americans, but Mr. Trump has recently revamped calls for a return to the old name. "I think that everyone has been perplexed by the President's comments, and in that sense, they certainly have not been helpful. I don't know where they go. And I have actually characterized him as a distraction, in the many senses of that word," D.C. Council chairman Phil Mendelson said of Mr. Trump's comments at a press conference Thursday. The council is set to vote on the proposal on Aug. 1, with a second vote set for Sept. 17, according to Mendelson. Mendelson said he is "confident that we will have the votes necessary" to pass the agreement next week. In addition to the looming threats from the president, the D.C. Council and the Commanders also face the technical difficulties surrounding the transfer of control over the RFK Stadium property. While the stadium is located on federal land, the city was given permission by Congress in January to control the property for 99 years, which would allow for its redevelopment. The agreement reached today signals a step towards receiving approval from city councilors over the redevelopment plan, but the real test will come with the Aug. 1 vote. Regardless of the forthcoming roadblocks, the proposal seems to have widespread support, both from district politicians and residents. "Bringing the Commanders home is about more than a stadium. It's about creating jobs, attracting revenue, and driving investment to Ward 7—and it's coming at [a] time when we need it the most," D.C. Mayor Muriel Bowser said Thursday. The deal, as of its latest amendments, includes $950 million in revenue benefits for D.C., and is estimated to save district taxpayers $55 million, according Mendelson. "A lot of the reaction that we got from residents, at least, that I heard, and I think my colleagues would agree, was that the deal could be better for the district. And I mean, I heard from many people, 'I support the team. I want the team in a district, but I think it could be a better deal.' And so I think the Commanders heard that," Mendelson said. The negotiations will likely continue, with possible additional amendments to be made later on, but while Mendelson said "there's still a lot that has to be worked out in terms of legal documents," the current deal represents the "basic framework" of the agreement. Mendelson, who previously raised concerns over the proposal due to its costs, said he "[put] aside my own view" on the deal due to support from D.C. residents and his fellow council members, and has since been satisfied with the progress. "[T]he Commanders have been very positive, constructive in our negotiations," Mendelson said. "I have no complaint."
Fox Sports
6 days ago
- Business
- Fox Sports
D.C. Council Set for Aug. 1 Vote on Updated Commanders Stadium Plan
The D.C. Council is set to vote Aug. 1 on revised legislation that could allow the Washington Commanders to return to the site of their former home at RFK Stadium, Chairman Phil Mendelson announced Thursday, describing the updated proposal as a win for the city and its residents. The updated plan would support a $3.7 billion redevelopment project featuring a new stadium, 6,000 housing units — including 1,800 designated as affordable — and retail space and parkland across the 174-acre RFK campus. Mendelson's statement comes days after President Donald Trump threatened to block federal support for the stadium project unless the team reverted to its former name, "Redskins." He called the "Commanders" name "ridiculous." Under the revised proposal, Mendelson's office estimates, the redevelopment could generate $26.6 billion in tax revenue over 30 years. The District would contribute $1 billion toward the stadium project, while the team would fund the remaining $2.7 billion. "It's clear that the Commanders showed through their negotiations their commitment to the District," Mendelson said. "The process has been extremely productive, and they've been a cooperative partner." Commanders team president Mark Clouse — whose club opened training camp in Virginia this week — welcomed the Council's timeline. "We are thrilled the Council will vote to hopefully support this project on August 1," Clouse said in a statement. "With today's announcement, the opportunity to bring the team back to its spiritual home and revitalize a critical part of the nation's capital is one step closer." The Commanders currently play at Northwest Stadium in Landover, Maryland, but aim to open a new venue in 2030. Washington Mayor Muriel Bowser, who negotiated the original plan with Commanders owner Josh Harris in April, praised the new framework as "the most important economic development project in the history of Washington, D.C." Momentum for the site's redevelopment accelerated after the House Oversight Committee, led by Rep. James Comer, a Kentucky Republican, approved a lease that gave the city control over the long-dormant RFK area. "It is time to unlock the city's full economic potential," said Comer's chief of staff, Austin Hacker. "Congress empowered District leaders with the responsibility to revitalize the long-neglected and deteriorating RFK Memorial Stadium campus in our nation's capital." The ownership group led by Harris has been considering locations in Washington, Maryland and Virginia since buying the team from Dan Snyder in 2022. The most recent progress came when Congress passed a bill transferring the RFK Stadium land to D.C. that was signed by former President Joe Biden in early January, after lobbying on Capitol Hill by Harris and NFL Commissioner Roger Goodell late last year. That paved the way for making it possible to tear down the decaying husk of the old stadium and replace it with a mixed-use development, including the new playing field for the Commanders. Reporting by The Associated Press. Want great stories delivered right to your inbox? Create or log in to your FOX Sports account, follow leagues, teams and players to receive a personalized newsletter daily ! FOLLOW Follow your favorites to personalize your FOX Sports experience National Football League Washington Commanders recommended Item 1 of 3 Get more from the National Football League Follow your favorites to get information about games, news and more in this topic
Fox News
6 days ago
- Business
- Fox News
D.C. Council Set for Aug. 1 Vote on Updated Commanders Stadium Plan
The D.C. Council is set to vote Aug. 1 on revised legislation that could allow the Washington Commanders to return to the site of their former home at RFK Stadium, Chairman Phil Mendelson announced Thursday, describing the updated proposal as a win for the city and its residents. The updated plan would support a $3.7 billion redevelopment project featuring a new stadium, 6,000 housing units — including 1,800 designated as affordable — and retail space and parkland across the 174-acre RFK campus. Mendelson's statement comes days after President Donald Trump threatened to block federal support for the stadium project unless the team reverted to its former name, "Redskins." He called the "Commanders" name "ridiculous." Under the revised proposal, Mendelson's office estimates, the redevelopment could generate $26.6 billion in tax revenue over 30 years. The District would contribute $1 billion toward the stadium project, while the team would fund the remaining $2.7 billion. "It's clear that the Commanders showed through their negotiations their commitment to the District," Mendelson said. "The process has been extremely productive, and they've been a cooperative partner." Commanders team president Mark Clouse — whose club opened training camp in Virginia this week — welcomed the Council's timeline. "We are thrilled the Council will vote to hopefully support this project on August 1," Clouse said in a statement. "With today's announcement, the opportunity to bring the team back to its spiritual home and revitalize a critical part of the nation's capital is one step closer." The Commanders currently play at Northwest Stadium in Landover, Maryland, but aim to open a new venue in 2030. Washington Mayor Muriel Bowser, who negotiated the original plan with Commanders owner Josh Harris in April, praised the new framework as "the most important economic development project in the history of Washington, D.C." Momentum for the site's redevelopment accelerated after the House Oversight Committee, led by Rep. James Comer, a Kentucky Republican, approved a lease that gave the city control over the long-dormant RFK area. "It is time to unlock the city's full economic potential," said Comer's chief of staff, Austin Hacker. "Congress empowered District leaders with the responsibility to revitalize the long-neglected and deteriorating RFK Memorial Stadium campus in our nation's capital." The ownership group led by Harris has been considering locations in Washington, Maryland and Virginia since buying the team from Dan Snyder in 2022. The most recent progress came when Congress passed a bill transferring the RFK Stadium land to D.C. that was signed by former President Joe Biden in early January, after lobbying on Capitol Hill by Harris and NFL Commissioner Roger Goodell late last year. That paved the way for making it possible to tear down the decaying husk of the old stadium and replace it with a mixed-use development, including the new playing field for the Commanders. Reporting by The Associated Press. Want great stories delivered right to your inbox? Create or log in to your FOX Sports account, follow leagues, teams and players to receive a personalized newsletter daily!
San Francisco Chronicle
6 days ago
- Business
- San Francisco Chronicle
DC council set for Aug. 1 vote on updated Commanders stadium plan after Trump threatened to block it
ASHBURN, Va. (AP) — The D.C. Council is set to vote Aug. 1 on revised legislation that could allow the Washington Commanders to return to the site of their former home at RFK Stadium, Chairman Phil Mendelson announced Thursday, describing the updated proposal as a win for the city and its residents. The updated plan would support a $3.7 billion redevelopment project featuring a new stadium, 6,000 housing units — including 1,800 designated as affordable — and retail space and parkland across the 174-acre RFK campus. Mendelson's statement comes days after President Donald Trump threatened to block federal support for the stadium project unless the team reverted to its former name, 'Redskins.' He called the 'Commanders' name 'ridiculous.' Under the revised proposal, Mendelson's office estimates, the redevelopment could generate $26.6 billion in tax revenue over 30 years. The District would contribute $1 billion toward the stadium project, while the team would fund the remaining $2.7 billion. 'It's clear that the Commanders showed through their negotiations their commitment to the District,' Mendelson said. 'The process has been extremely productive, and they've been a cooperative partner.' Commanders team president Mark Clouse — whose club opened training camp in Virginia this week — welcomed the Council's timeline. 'We are thrilled the Council will vote to hopefully support this project on August 1,' Clouse said in a statement. 'With today's announcement, the opportunity to bring the team back to its spiritual home and revitalize a critical part of the nation's capital is one step closer.' The Commanders currently play at Northwest Stadium in Landover, Maryland, but aim to open a new venue in 2030. Washington Mayor Muriel Bowser, who negotiated the original plan with Commanders owner Josh Harris in April, praised the new framework as 'the most important economic development project in the history of Washington, D.C.' Momentum for the site's redevelopment accelerated after the House Oversight Committee, led by Rep. James Comer, a Kentucky Republican, approved a lease that gave the city control over the long-dormant RFK area. 'It is time to unlock the city's full economic potential,' said Comer's chief of staff, Austin Hacker. 'Congress empowered District leaders with the responsibility to revitalize the long-neglected and deteriorating RFK Memorial Stadium campus in our nation's capital.' The ownership group led by Harris has been considering locations in Washington, Maryland and Virginia since buying the team from Dan Snyder in 2022. The most recent progress came when Congress passed a bill transferring the RFK Stadium land to D.C. that was signed by former President Joe Biden in early January, after lobbying on Capitol Hill by Harris and NFL Commissioner Roger Goodell late last year. ___
