Latest news with #Pershing
Forbes
7 days ago
- Automotive
- Forbes
Pershing Yachts Celebrates 40th Anniversary In Style
Capri was the sight of the Pershing Yachts 40th Anniversary celebration July 2025 After many years spent writing about yachts, I've learned that the members of the Ferretti Group know how to celebrate. And since the Ferretti Group is comprised of seven iconic Italian brands including Riva, Wally, Pershing and others they always have something to celebrate…in style. Pershing owners and guests were treated to 300-drone light show at the brand's 40th anniversary ... More event in Capri July 2025 So, when I heard that the Ferretti Group was planning to celebrate the 40th anniversary of Pershing Yachts, I had a feeling they'd pull out all the stops. But, the series of parties and events they organized for Pershing owners and guests on Capri—during the height of the summer season—took pulling out the stops to the next level. And that's one of the things that impresses me about the Ferretti Group. They strive to do more than just sell boats. They also work hard to provide their owners with experiences—like a series of cool events in Capri In July—that are quite special as well. The full Pershing line up was on display recently at the brand's 40th anniversary event in Capri And it's obvious that the Ferretti Group's commitment to consistently deliver cool owner's experiences comes from the top down. 'Celebrating Pershing's 40th anniversary in Capri – a unique island in the very heart of the Mediterranean – had a special meaning,' Galassi said. 'Capri is pure beauty, like our boats, and the ideal setting for an extraordinary event that brought together entertainment, innovation and passion. Against a breathtaking natural backdrop, we told the story of an adventure lived in the fast lane: 40 years of incomparable style, comfort and thrilling performance. Emotions that only owners at the helm of a Pershing can truly understand. This event will live forever in the eyes and memories of everyone who was there, and above all in the glorious history of our brand.' F1 driver and new Pershing 6x owner George Russell (blue jacket) with Ferretti Group CEO Alberto ... More Galassi Like all Ferretti Group events, owners and guests—including Formula 1 driver George Russell who spent the first night aboard his new Pershing 6X just before the event—were treated to lots of memorable events that started with the presentation of the new Pershing GTX70, announced by a spectacular light show featuring 300 drones after dinner at Capri's famous 'La Canzone del Mare' restaurant. Then guests danced like crazy at a private show from Capri legend Gianluigi Lembo of 'Anema e Core'. Pershing Yachts 40th Anniversary in Capri The following day guests were treated to lunch in Nerano, at Antonio Mellino's famous 'Quattro Passi', while in the evening there were two dinner venues, both in Capri and both booked entirely for the event: the historic 'Il Riccio' and chef Franco Pepe's signature pizzeria and seafront restaurant 'a-Ma-Re Capri'. Pershing owners also got to see new Pershing 6X, 7X and 8Xs, along with a Pershing GTX116 a Pershing GTX70 in action too. Bellissimo
The Sun
7 days ago
- Automotive
- The Sun
George Russell buys luxury £2.2million Pershing 6X yacht as Mercedes star splashes cash after F1 success
GEORGE RUSSELL has splashed out on a £2.2MILLION luxury yacht following his success on the track. The Formula One superstar has traded the tarmac for the waves after recently purchasing a Pershing 6X yacht. 12 12 12 12 12 Russell, 27, is having one of his best campaigns behind the wheel for Mercedes and is currently fourth in the Driver's Standings. And the Brit is clearly earning himself a handsome pay packet, reportedly £11.2m-per-year, as he he started to treat himself to some of the finer things in life. The four-time F1 Grand Prix winner's new yacht is the definition of luxury, a cutting-edge boat with top speeds of 48 knots and enough space to carry 14 people. The 62ft vessel has four bedrooms, four bathrooms, a kitchen and a remarkable upper deck living area. Just like Russell's F1 car, the boat also packs a punch with twin MAN V12 1550mhp engines. Meanwhile the bow of the boat has a huge plush area for Russell and his pals to lounge in the sun when they're out on the water enjoying their time away from the track. And the rear is fit with a garage in case anyone was hoping to bring their jet ski along with them for a change of pace on the water. Pershing are clearly not a company who shy away from treating their customers either, as Russell recently attended the brand's 40th anniversary party in Capri - sipping on champagne and taking in the views of a private drone show. 12 12 12 12 12 Russell could be in good stead to grow his yacht collection in the future as he looks set to pen a new and improved contract with Mercedes. The 27-year old is out of contract next year and has expressed his hope to stay with the team in the future amid speculation of a potential move for Max Verstappen from Red Bull to Mercedes. Speaking ahead of the British Grand Prix earlier this month, he said: "I want to continue with Mercedes into the future. Toto [Wolff] has never let me down, has always given me his word. 'He's also got to do what's right for his team, which includes me and the thousands of people who work for Mercedes. 'For me it's nothing to worry about, as I don't think I'll be going anywhere, and whoever my team-mate is doesn't concern me either, so I'll just focus on the driving. 'It'll happen when the time is right. I expect in the next couple of weeks. But we'll need to wait and see. 'There hasn't been a lack of interest, let's say. But I've been focused on my side, I am loyal to Mercedes. 'The likelihood I'm not at Mercedes next year is exceptionally low.'
Yahoo
03-07-2025
- Automotive
- Yahoo
Billionaire Investor Bill Ackman Is Betting Against Tesla -- At Least for Now
Bill Ackman's fund, Pershing Square Capital Management, doesn't own Tesla and isn't shorting the stock. However, Pershing recently took a large position in a large transportation company. The new stock's business is at odds with Tesla right now. 10 stocks we like better than Uber Technologies › Billionaire investor Bill Ackman made a name for himself in the 21st century through activist short-selling. But these days, Ackman's fund, Pershing Square Capital Management, tends to own about a dozen stocks at any given time, usually on the long side. Pershing has never owned Tesla (NASDAQ: TSLA), the electric car and robotaxi company run by CEO Elon Musk. Ackman is not actively shorting the stock or purchasing put options on the name, either. But Pershing launched a new position earlier this year, which is now the fund's largest holding. And it's essentially a bet against Tesla -- at least for now. Robotaxis with full-self-driving (FSD) capabilities are beginning to pop up in some of the largest cities in the country. After years of experts predicting that FSD would one day be ubiquitous, it feels like the industry is now at a tipping point. Tesla plans to play a big role in the FSD revolution. Musk has been talking about it for years, and Tesla recently launched its first batch of autonomous robotaxis in Austin, Texas, in what essentially looks like a soft launch. It's still early. Tesla's first robotaxis are geo-fenced, meaning they are only operating in parts of Austin, and the vehicles are also being overseen by humans remotely. But investors think this could be the beginning of a new robotaxi fleet that could potentially cut into the ride-hailing business. Speaking of ride-hailing, Pershing earlier this year acquired a large stake in the ride-hailing giant Uber (NYSE: UBER), which was Pershing's largest equity holding at the end of the first quarter, consuming 19% of the portfolio. In a post on X in February, Ackman praised the work of Uber's CEO Dara Khosrowshahi, who "has done a superb job in transforming the company into a highly profitable and cash-generative growth machine." Ackman called Uber one of the highest-quality businesses he's seen in the market that could be purchased cheap compared to what it's really worth. While the billionaire investor may not have said it, a big bet on Uber is currently a big bet against Tesla. That's because both companies are banking on robotaxis to carry their future businesses, albeit in different ways. Tesla is building FSD electric vehicles and planning to launch its own robotaxi fleet. In a research note in late May, Wedbush analyst Scott Devitt said, "We continue to believe Tesla Robotaxi serves as a long-term threat to Uber's business model... The initial launch may ramp slowly initially but 'gradually then suddenly' is a quote investors may be prudent to contemplate." Not only could a robotaxi fleet without the cost of human labor challenge Uber, but Uber itself is betting on robotaxis with its plan to build a robust network of partners. The company has already forged partnerships with Waymo, and WeRide, among others. The plan is to launch autonomous vehicles from partners through its network. In a prior presentation, Uber believes the autonomous opportunity could be worth more than $1 trillion in the U.S. alone. Furthermore, management believes the company is uniquely positioned to take advantage of the autonomous wave because companies building these vehicles will need a partner. Uber's massive platform and scale, operational capabilities, and experience on the regulatory side make it an obvious choice. In its presentation, which is from February of this year, Uber lists Tesla as a potential partner. Earlier this year, some media outlets reported that Tesla was contemplating an acquisition of Uber. However, Musk has shut down those rumors, saying there is "no need" to buy Uber because Tesla has plenty of vehicles it can use for its fleet. Additionally, Musk envisions a scenario where Tesla owners can lend their vehicles to the fleet and earn passive income. This more or less positions the two companies as competitors in the robotaxi space -- at least for the time being. Could Tesla one day become a partner of Uber? Possibly, especially if Tesla's fleet struggles to scale. Perhaps there is room for more than one to thrive in the space, although, in the current ride-hailing sector, Uber and Lyft essentially control the entire market. In several instances this year, good news for Tesla's robotaxi fleet has sent shares of Uber down. It's hard to know how things will shake out in such early days, but with Tesla trading at close to 170 times forward earnings, investors are clearly baking in tremendous success in the robotaxi business. Uber, trading at 25 times forward earnings, is clearly not baking in as much success in its autonomous ambitions. That's something for investors to keep in mind as they evaluate both stocks. Before you buy stock in Uber Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Uber Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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Billionaire Investor Bill Ackman Is Betting Against Tesla -- At Least for Now was originally published by The Motley Fool 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
Forbes
13-06-2025
- Automotive
- Forbes
This Slick Sports Yacht Just Made Its Debut At The Venice Boat Show
The yacht was launched in March. Ferretti Group For yacht buyers with a need for speed, it's no secret that Italian brand Pershing is the premium choice. With a long history of high-quality construction and a focus on R&D that's backed by parent company and yachting giant Ferretti Group, the Italian brand is the industry leader for performance boats. But in the last few years, Pershing has been branching into yachts with a bit more focus on liveability. Built under the GTX Sport Utility series, the new line of lines is characterized by more waterfront real estate and an increased focus on comfort, space and longer voyages. Six guests are accommodated in three cabins. Ferretti Group In other words, the GTX line hasn't been made for zipping around Ibiza drinking champagne – this is a series for sun-slowed weekends around the quieter Balearics, sipping mojitos and soaking up the Mediterranean views. The latest model from the line just made its premiere at the Venice Boat Show. The show has long been a staple in the yachting calendar, giving yacht builders an alternative window to showcase their products outside of the busy September boat show season. It's also crucial for the Adriatic market and yacht builders like Pershing, which is based just nearby, in Mondolfo, are right at home in The Floating City. The highly anticipated GTX70, launched this spring in Fano, is the third and most compact entry in the marque's Sport Utility Yachts range. At 71.5-feet (or 21.8 meters), its delivery coincides neatly with the builder's 40th anniversary and its premiere at the 2025 Venice Boat Show got people talking. With a beam of 5.42 meters, the GTX70 is more than just a scaled-down version of its larger siblings. Developed in collaboration with the Ferretti Group's Product Strategy Committee led by Piero Ferrari, Vallicelli Design, and the Group's Engineering Department, the model features a new hull and construction process that blends the latest technology with classic Pershing craftsmanship. The result is a sleek, elegant vessel that stays true to the aggressive spirit of the GTX line with its clean lines, a slightly convex sheer, and a near-vertical bow. The focal point of the design is the unfolding bulwarks on the beach club that together create a 23 square meter oceanfront lounge right at the water's edge. Pershing takes it one step further with a lifting swim platform that expands the available space and also offers practical benefits like tender and Jet Ski launching (the recommended tender is a Williams 325 tender). Inside, the GTX70 punches well above its weight class in terms of volume and layout, thanks, in part, to the widebody design. The main deck's open-plan design connects the shaded cockpit lounge to the galley and forward salon via a clever up-down glass panel. Interior materials and lighting have been thoughtfully curated with touches of Nubuck leather and Pershing's signature sporty LED light bars. Attendees of the Venice Boat Show 2025 were given a chance to see inside – but those who weren't at the yacht show will have to wait until the official photoshoot is released. Below, the GTX70 offers accommodations for up to six guests in three en suite cabins, with a layout that maximizes both privacy and comfort. Above, the 16 square meter sportbridge offers sunbathing, alfresco dining, and command station zones, and is available with an optional electric Bimini top. Of course, no Pershing would be complete without performance credentials. Powered by triple 900 hp Volvo Penta D13 IPS1200 engines, the GTX70 is capable of reaching a top speed of 35 knots, with a comfortable cruising speed of 30 knots. During the boat show, the Salone Nautico Venezia organized special sea trials around the Venice Lido to give prospective buyers the chance to put the yacht's driveability and speed to the test. With its world premiere at one of the more boutique shows in the calendar, the Pershing GTX70 makes a bold statement: high-performance yachting can still offer space, comfort, and elegance, even at under 22 meters. It's a sleek, sea-going celebration of Pershing's four-decade legacy and a sign of exciting things to come for the GTX line.
Time Magazine
30-05-2025
- Climate
- Time Magazine
Why ‘Hundred-Year' Weather Events Are Happening More Than Once Every 100 Years
Climate change is leading not only to droughts, wildfires, and extreme weather. It's also leading to oxymorons—at least when it comes to what are known as hundred-year storms, floods, and other events. Long-term weather forecasting—the kind that predicts conditions months or even years or decades in advance—is all about probabilities, factoring together not only current conditions and trends, but the historical record. An area that has seen floods in the past when the spring was unusually rainy or tropical storms were unusually fierce, is likely to see them again if the same conditions recur. Ditto the likelihood of severe storms when the atmosphere is holding a lot of moisture and the oceans are atypically warm. Environmental scientists have gotten so good at reading weather history that they can characterize some severe storms or floods as likely to occur in a given area only once in 100 years—or even 500 years or a thousand years. That's where the oxymoron comes in. As climate change leads to greater meteorological volatility, the one in 100—or 500 or 1,000—year events are occurring twice or three times or more in those windows. Since 1999, there have been nine storms along the North Carolina coast that qualify as hundred or thousand year events. From 2015 to 2019, one suburb of St. Louis experienced three major floods, two of which met the criteria for hundred-year events. One study by the Montreal-based carbon removal project Deep Sky calculates that the frequency of deadly hurricanes has jumped 300%, with 100-year storms now forecast to occur once every 25 years. Climate change is also redefining what qualifies as one of these rare and intense events. 'In April, an extreme rainfall event hit the Mississippi Valley, including Arkansas, Mississippi, Kentucky, and Tennessee,' says climate scientist Andrew Pershing, chief program officer at Climate Central, an advocacy and communications group. 'Some of our colleagues at the World Weather Attribution group did a study and calculated that it was a 100-year event based on today's climate, but without climate change it would have been more like a 500-year event.' Making those kinds of calculations can take some doing—and a fair bit of data modeling—because climate unfolds over the course of millennia and modern weather and climate records barely go back a century. 'Scientists first look at 30 years of data, 50 years of data and figure out how frequently these events occur,' says Pershing. 'The challenge is that when you do that you're using data from the past when it was around two degrees cooler than it is now. When you start to do the calculations for today's climate, you find that events that you might expect to happen once every hundred years might happen once every 20 years.' The math here gets a little simpler. By definition, a hundred-year storm has a 1% likelihood of occurring in any one year; for a 500-year storm it's 0.2%; for a thousand years it's 0.1%. But every year the probability clock starts anew; if the 1% longshot comes in and a hundred-year storm occurs on the Carolina coast in 2025, that same area would typically have the same 1% chance in 2026—but climate change is making the likelihood even higher. 'It's not like you can calendar one of these events and say you're cool for another 100 years,' says Pershing. Driving the more frequent events is what Pershing describes as a 'thirstier' atmosphere, one that is hotter and thus capable of holding more moisture. 'We have a supercharged water cycle and that means that when you get a rain event it has a better chance of being a bigger event than it used to be,' says Pershing. Some of those bigger events could be coming soon—in the form of hurricanes. On May 22, the National Oceanic and Atmospheric Administration (NOAA) released its projections for storm severity in the 2025 Atlantic hurricane season, which runs from June 1 to November 30. NOAA did not attempt to predict 100- or 500- or thousand-year events, but it does see trouble looming. The agency projects a 60% chance of an above-average hurricane season, a 30% chance of an average season, and just a 10% chance of below average. Across the six hurricane months, NOAA predicts 13 to 19 named storms—with winds of 39 mph or higher—up to 10 of which will likely develop into hurricanes with winds of 74 mph or more. Up to five of those could be major hurricanes—category 3, 4, or 5, with winds of 111 mph or more. And the impact could extend far beyond the coastal regions that are usually hardest hit. 'As we witnessed last year with significant inland flooding from hurricanes Helene [in September] and Debby [in August], the impacts of hurricanes can reach far beyond coastal communities,' said acting NOAA administrator Laura Grimm in a statement. Things could get dicey not only in the Atlantic, but in the Pacific as well. Already, tropical storm Alvin is forming off the southwest coast of Mexico, two weeks ahead of the start of the eastern Pacific hurricane season. In addition to hurricanes, floods, and storms, heat waves, droughts, and wildfires can be projected out over centuries. 'A hotter atmosphere can hold more water, but if you squeeze that moisture out over a mountain range like what happens in the west, then you end up with a much drier air mass,' says Pershing. 'The atmosphere then wants to suck the moisture out of the ground and so droughts get more severe.' There's no easy fix for a feverish atmosphere. In the short run, adaptation—dikes and levees to protect flood-prone cities, relocating residences away from eroding coasts—can help. In the longer run, shutting off the greenhouse emissions that created the problem in the first place is the best and most sustainable bet for limiting hundred-year storms to their hundred-year timelines. 'We have to quit fossil fuels as fast as we can,' says Pershing. 'This will give the climate a chance to stabilize and us a chance to adjust.'
