Latest news with #NY-based
Hypebeast
a day ago
- Entertainment
- Hypebeast
Eric Emanuel Marks a New Chapter With First Seasonal Collection
NY-based sportswear designerEric Emanuel's eponymous label is embarking in its next chapter with the unveiling of its first-ever full seasonal collection. Styled by Ian Bradley and photographed by Menelik Puryear, the hefty lookbook celebrates Emanuel's energetic ethos and sense of humor with casual styling and bold hues for the summertime. Comprising tailored essentials, colorful, textured knits, retro sports gear, branded underwear, and more, the label's inaugural SS25 collection expands on its sports-focused aesthetic with playful colors and textures. A range of cable-knit shorts and zip-up hoodies is cast in off-white, minty green, deep blue, and yellow. Bradley layers these core pieces with stand-out tops, including a green cropped mesh jersey, emblazoned with a pink 91, and an orange and yellow tie-dye canvas shirt. In other looks, Emanuel continues to evolve his signature shorts design with new materials, including green, pink, and brown pairs made from a plush knit. Summer stripes also make an appearance in chunky knit sets comprising button-up shirts and shorts in pink and yellow colorways. The collection is topped off with more elevated pieces, including classic Oxford-style shirting, denim shirts, and the linen track pants, which feature a contrast panel down the side legs. The Eric Emanuel SS25 Collection launches first with the Summer Cableknit Shorts & Zip-Ups in Navy, Green & Yellow, Oxford Shirting in Blue, Pink and White, and Linen Track Pants in Brown/Blue, Green/Blue, and Ivory/Blue, today at thebrand's web store. The brand will subsequently launch its Striped-Knit Shorts & Button-Downs on June 6. See the gallery above for a deep dive into the lookbook.
New York Post
5 days ago
- Entertainment
- New York Post
Ex-PepsiCo exec who claimed he invented Flamin' Hot Cheetos loses defamation lawsuit against snack giant
PepsiCo won the dismissal of a lawsuit by a former executive who said the food and beverage company defrauded and defamed him by denying that he invented Flamin' Hot Cheetos. In a decision on Wednesday, US District Judge John Holcomb said Richard Montanez, who retired from PepsiCo in 2019 to become a full-time motivational speaker, did not show that PepsiCo and its Frito-Lay unit intentionally reneged on a promise to tell the 'true story' of how he created the popular spicy chips. The Santa Ana, Calif.-based judge also said PepsiCo did not defame Montanez by allegedly refusing in 2023 to assist in a documentary about his life unless it debunked his claim. 3 Richard Montanez, who retired from PepsiCo in 2019 to become a full-time motivational speaker, had his lawsuit against his former employer tossed. GC Images Holcomb said the actual malice standard for defamation, requiring knowledge of falsity or reckless disregard for the truth, was appropriate based on Montanez's describing himself as 'part of the cultural canon' through two best-selling books and a hit movie directed by Eva Longoria. Lawyers for Montanez did not immediately respond to requests for comment on Thursday. Camille Vasquez, a lawyer for Purchase, NY-based PepsiCo, declined to comment. Montanez began in 1976 as a Frito-Lay janitor in Rancho Cucamonga, Calif., and rose to become PepsiCo's vice president of multicultural marketing and sales. He said he sparked what became Flamin' Hot Cheetos around 1989, when took unflavored Cheetos home to experiment with seasonings and 'drew inspiration' from elote, a Mexican grilled corn seasoned with chili powder. PepsiCo introduced Flamin' Hot Cheetos in 1992, and made it a multibillion-dollar brand. 3 Montanez said he sparked what became Flamin' Hot Cheetos around 1989. Mdv Edwards – Montanez said he once booked 35 speaking engagements annually at $10,000 to $50,000 each but lost most bookings after a Los Angeles Times article in May 2021 in which Frito-Lay rejected the 'urban legend' that he invented the snack chips. Frito-Lay later said its comments were misconstrued, and it had no reason to doubt Montanez's efforts to create new Cheetos products. The newspaper defended its reporting. 3 A scene from the 2023 film 'Flamin Hot,' which was directed by Eva Longoria. AP Montanez's story about Flamin' Hot Cheetos was told in Longoria's 2023 film 'Flamin' Hot' and in two memoirs. The case is Martinez v PepsiCo Inc et al, U.S. District Court, Central District of California, No. 24-01792.
Business Wire
6 days ago
- Business
- Business Wire
Diamond Properties Inducted into BOMA Westchester Hall of Honor in Its 30th Anniversary Year
MOUNT KISCO, N.Y.--(BUSINESS WIRE)--Diamond Properties, a trailblazer in commercial real estate development and management, has been inducted into the Building Owners and Managers Association (BOMA) of Westchester's Hall of Honor during the company's 30th anniversary year. The honor was presented at the association's 33rd Annual Hall of Honor Awards Dinner on May 15 at Abigail Kirsch at Tappan Hill, Tarrytown, NY. This distinguished recognition celebrates Diamond Properties' three decades of innovation, revitalization, and economic contribution to Westchester County and beyond. More than 200 industry professionals gathered to acknowledge companies making lasting impacts on the region's commercial landscape. CEO James Diamond accepted the award on behalf of the firm. 'We're proud to be recognized by BOMA Westchester at such a meaningful time in our company's history,' said Diamond. 'This award reflects the dedication of our entire team and our commitment to creating spaces that strengthen communities and enable businesses to thrive.' Diamond Properties has previously been honored with BOMA's Signature Project Award in 2013 and the Best of BOMA Award in 2008. The company, founded in 1995 by Jim and Bill Diamond, has grown into a national presence with a portfolio of over 125 properties across 13 states. Its reputation is rooted in transforming underused properties into dynamic environments for industry, retail, entertainment, and hospitality — always with an eye toward sustainability and long-term value. About Diamond Properties Diamond Properties is a Mount Kisco, NY-based commercial real estate investment and management firm known for forward-thinking property transformations. With a diverse portfolio and a hands-on approach, the company consistently delivers innovative solutions that drive economic vitality and community growth.
Yahoo
27-05-2025
- Business
- Yahoo
KBRA Assigns Ratings to Chemung Financial Corporation
NEW YORK, May 27, 2025--(BUSINESS WIRE)--KBRA assigns a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term debt rating of K3 to Elmira, NY-based Chemung Financial Corporation (NASDAQ: CHMG) ("the company"). In addition, KBRA assigns deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 to its main subsidiary, Chemung Canal Trust Company. The Outlook for all long-term ratings is Stable. CHMG's ratings are anchored by its stable, low-cost, and granular funding base, which is supported by an extensive operating history and naturally robust market share in its Southern Tier legacy footprint. Moreover, the conservative approach to liquidity management, including a loan-to-deposit ratio that has historically remained in the low- to mid-80% range, helps reinforce this durable core deposit funding mix that funds most balance sheet growth. The deposit composition is favorable, including a high-level of NIB accounts (26% of total), which supports deposit costs (1.83% in 1Q25) well below the rated peer group. Moving forward, despite the ample growth opportunities in the Albany and Buffalo markets, KBRA expects the company to maintain its favorable liquidity and funding profile as loan growth opportunities are expected to be funded with core deposit gathering and natural runoff in the securities portfolio. Core earnings are supported by a predictable stream of non-spread revenue, led by a wealth management arm ($2.2 billion of AUM/AUA) that offers ample cross-selling opportunities and sticky depositor relationships. Notwithstanding relatively strong fee income (23% of total revenues), NIM has typically trailed similarly rated peers, though partly attributable to a tilt toward lower-yielding and longer-duration CRE and residential mortgage loans. Moving forward, management plans to pursue commercial lending in its expansion markets, but overall earnings capacity is not expected materially change until those efforts scale. Moreover, CHMG is contemplating a potential securities portfolio positioning, which could help accelerate stronger returns. Core capital, as measured by the CET1 ratio, has typically been managed in excess of 11.5%, naturally benefiting from the company's lower RWA density (averaging 69% over past five years) and solid internal capital generation ability. However, CHMG's large, underwater AFS securities portfolio ($60 million AOCL) weighs on TCE, with the related ratio at 7.4% as of 1Q25. When excluding the impact of AOCL, the TCE ratio is lifted by >200 bps, well above the rated peer group average. Moreover, we will continue to be mindful around capital levels as management executes its growth initiatives and potential balance sheet strategies. While CHMG has previously experienced pockets of uptick in problem asset levels, we believe these to be idiosyncratic, largely driven by fraud-related incidents, and the contemporary loan portfolio appears to be conservatively underwritten. As such, NPAs have trended around 50 bps in recent years with negligible related loss content, while criticized and classified loan trends have been largely benign. That said, the company maintains a somewhat elevated investor CRE concentration, totaling nearly 400% of total risk-based capital as of 1Q25. However, management's strategic focus on C&I lending in new markets is expected to result in a stable to gradually declining investor CRE concentration over time. Despite the current level, the CRE portfolio is highly granular, supported by disciplined underwriting standards, and is concentrated in stable markets where management has deep experience and long-standing customer relationships. Additionally, office exposure is relatively well-contained at 6% of total loans and is primarily composed of properties with service-oriented tenants located in suburban markets, which have demonstrated greater resilience than central business districts. To access ratings and relevant documents, click here. Click here to view the report. Methodologies Financial Institutions: Bank & Bank Holding Company Global Rating Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009527 View source version on Contacts Analytical Contacts John Rempe, Senior Director (Lead Analyst)+1 Richard Veon, Senior Analyst+1 Ian Jaffe, Senior Managing Director+1 Ashley Phillips, Managing Director (Rating Committee Chair)+1 Business Development Contact Justin Fuller, Managing Director+1
Business Wire
27-05-2025
- Business
- Business Wire
KBRA Assigns Ratings to Chemung Financial Corporation
NEW YORK--(BUSINESS WIRE)--KBRA assigns a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term debt rating of K3 to Elmira, NY-based Chemung Financial Corporation (NASDAQ: CHMG) ("the company"). In addition, KBRA assigns deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 to its main subsidiary, Chemung Canal Trust Company. The Outlook for all long-term ratings is Stable. CHMG's ratings are anchored by its stable, low-cost, and granular funding base, which is supported by an extensive operating history and naturally robust market share in its Southern Tier legacy footprint. Moreover, the conservative approach to liquidity management, including a loan-to-deposit ratio that has historically remained in the low- to mid-80% range, helps reinforce this durable core deposit funding mix that funds most balance sheet growth. The deposit composition is favorable, including a high-level of NIB accounts (26% of total), which supports deposit costs (1.83% in 1Q25) well below the rated peer group. Moving forward, despite the ample growth opportunities in the Albany and Buffalo markets, KBRA expects the company to maintain its favorable liquidity and funding profile as loan growth opportunities are expected to be funded with core deposit gathering and natural runoff in the securities portfolio. Core earnings are supported by a predictable stream of non-spread revenue, led by a wealth management arm ($2.2 billion of AUM/AUA) that offers ample cross-selling opportunities and sticky depositor relationships. Notwithstanding relatively strong fee income (23% of total revenues), NIM has typically trailed similarly rated peers, though partly attributable to a tilt toward lower-yielding and longer-duration CRE and residential mortgage loans. Moving forward, management plans to pursue commercial lending in its expansion markets, but overall earnings capacity is not expected materially change until those efforts scale. Moreover, CHMG is contemplating a potential securities portfolio positioning, which could help accelerate stronger returns. Core capital, as measured by the CET1 ratio, has typically been managed in excess of 11.5%, naturally benefiting from the company's lower RWA density (averaging 69% over past five years) and solid internal capital generation ability. However, CHMG's large, underwater AFS securities portfolio ($60 million AOCL) weighs on TCE, with the related ratio at 7.4% as of 1Q25. When excluding the impact of AOCL, the TCE ratio is lifted by >200 bps, well above the rated peer group average. Moreover, we will continue to be mindful around capital levels as management executes its growth initiatives and potential balance sheet strategies. While CHMG has previously experienced pockets of uptick in problem asset levels, we believe these to be idiosyncratic, largely driven by fraud-related incidents, and the contemporary loan portfolio appears to be conservatively underwritten. As such, NPAs have trended around 50 bps in recent years with negligible related loss content, while criticized and classified loan trends have been largely benign. That said, the company maintains a somewhat elevated investor CRE concentration, totaling nearly 400% of total risk-based capital as of 1Q25. However, management's strategic focus on C&I lending in new markets is expected to result in a stable to gradually declining investor CRE concentration over time. Despite the current level, the CRE portfolio is highly granular, supported by disciplined underwriting standards, and is concentrated in stable markets where management has deep experience and long-standing customer relationships. Additionally, office exposure is relatively well-contained at 6% of total loans and is primarily composed of properties with service-oriented tenants located in suburban markets, which have demonstrated greater resilience than central business districts. To access ratings and relevant documents, click here. Click here to view the report. Methodologies Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009527
