Latest news with #WFG
Fox News
15 hours ago
- Politics
- Fox News
White House responds to new developments in probe of SJSU trans athlete allegedly conspiring to harm teammate
A White House spokesperson has provided an exclusive statement addressing recent Fox News Digital reporting on a third-party investigation into allegations of misconduct against former San Jose State volleyball player Blaire Fleming. Fox News Digital reported on Tuesday that the Mountain West Conference hired the firm Willkie Farr & Gallagher (WFG) to investigate allegations against Fleming of conspiring with an opponent to have teammate Brooke Slusser harmed during an Oct. 3 game. The Mountain West hired this firm to handle the investigation in the same month that the same firm represented the conference to protect Fleming's eligibility in a request for preliminary injunction to have the trans athlete disqualified from women's competition. The WFG attorney who led the investigation into allegations against Fleming, Tim Heaphy, later offered the school legal counsel to help it navigate a federal Title IX investigation over the same situation, as seen in public records obtained by Fox News Digital. President Donald Trump's administration launched the Title IX investigation into SJSU in February, and he previously referenced the situation during the 2024 volleyball season while campaigning for November's election. Now his White House has weighed in on the recent developments reported by Fox News Digital. "President Trump is committed to ending the dangerous and unfair participation of men in women's sports and restoring common sense. President Trump will continue to speak out and take immediate action against schools that are jeopardizing the safety of female athletes," White House spokesperson Liz Huston said. Fox News Digital has reached out to San Jose State University and the Mountain West for a response to the White House statement. Heaphy previously served as the chief investigative counsel to the U.S. House of Representatives select committee to investigate the January 6 Capitol protests. WFG is also the law firm that employs Doug Emhoff, the husband of former Vice President Kamala Harris, the 2024 Democratic presidential candidate. Emhoff joined the firm in January, shortly after Trump was sworn into office. WFG struck a deal in April to provide $100 million worth of legal services to the Trump administration, such as supporting veterans and combating antisemitism, per multiple reports. The firm's legal battle to keep the trans athlete in the women's tournament was successful, as federal Judge Kato Crews, appointed by President Joe Biden in January 2024, ruled in favor of Fleming's eligibility on Nov. 25. Two days later, after a failed appeal by the plaintiffs, the firm posted an online press release announcing the legal victory to keep Fleming eligible to play. But that webpage has since been deleted. Fox News Digital asked why the page no longer exists, but Willkie Farr & Gallagher did not respond to the inquiry. Archived data shows the original press release stating, "Willkie secured a high-profile win for collegiate athletic conference Mountain West Conference in a suit brought by members of San Jose State University's women's volleyball team and other Mountain West teams that played against SJSU." Fox News Digital has reached out to WFG for further comment. Former University of Kentucky swimmer and OutKick host Riley Gaines, who is engaged in a lawsuit against the NCAA for its previous gender eligibility policies that allowed biological males in women's sports, addressed the developments in an X post on Tuesday. The U.S. Department of Education's Office of Civil Rights is leading the federal Title IX probe into San Jose State's handling of Fleming's situation. University President Cynthia Teniente-Matson previously provided a statement to Fox News Digital saying the university is prepared to cooperate in the investigation. "San José State University is committed to ensuring that all of our students, including our student-athletes, are treated fairly, free from discrimination, and afforded the rights and protections granted under federal and state law, including privacy rights. "We follow policies and regulations set forth by the California State University system and applicable law, and we recognize that, at times, these laws and policies may intersect in complex ways. In navigating these frameworks, our focus remains on upholding our responsibilities while supporting our students. "Recently, we were notified that the U.S. Department of Education has initiated a directed investigation related to Title IX in light of President Trump's executive order with respect to athletics participation. As with any federal inquiry, we will fully engage with the process, follow established procedures and remain transparent in our compliance with all applicable laws. "While we adhere to legal and regulatory requirements, San José State will continue to act within our authority to uphold the values that define us as an institution. Our focus remains on our values, including fostering an environment that cultivates compassion, where every student has the opportunity to thrive. We remain steadfast in our role as a place of learning, respect and opportunity for all." Heaphy reached out to San Jose State University counsel Dustin May on Feb. 6 after Trump's administration launched the investigation into SJSU over the Fleming situation. "I saw an ESPN report that the Department of Education has opened an investigation of San Jose State University regarding the participation of a transgender volleyball player. I am familiar with those facts from my work for you and the Mountain West conference last fall," Heaphy wrote to May in a Feb. 6 email, as seen in public records obtained by Fox News Digital. "I also do a lot of work on OCR investigations with the Dept of Ed – including a large resolution of a Title VI matter that I recently resolved with that office for the University of Washington. If you're looking for outside counsel to engage with the Dept on this matter, I'd be glad to help." May responded on Feb. 18, declining Heaphy's offer. Heaphy replied the next day, writing, "Please let me know if we can help in any way on this or other issues." Fox News Digital previously reached out to the Mountain West, Willkie Farr & Gallagher, San Jose State University and its head volleyball coach Todd Kress regarding its previous findings. No response has been provided by those parties. May's office initially responded to Fox News Digital's request for comment after providing the public records, requesting a list of questions and background information be provided before speaking. Fox News Digital did not provide the information or list of comments, and requested a virtual or phone interview. May's office then responded with the statement, "Any speculation that the firm or attorney mentioned in your inquiry represented SJSU or the CSU is unfounded." Fox News Digital had not posed that question or any other stipulation, only an interview request, at that point. Fox News Digital later followed up with May's office requesting an interview to address other questions, and fulfilled his office's request to provide background information on what would be discussed. May's office responded saying, "He will not be available," and has not responded to request for further comment. Follow Fox News Digital's sports coverage on X, and subscribe to the Fox News Sports Huddle newsletter.
Yahoo
14-02-2025
- Business
- Yahoo
West Fraser Timber Co.Ltd (WFG) Q4 2024 Earnings Call Highlights: Strong North American ...
Q4 2024 Adjusted EBITDA: $140 million, representing a 10% margin. Full Year 2024 Adjusted EBITDA: $673 million, with an 11% margin, up from $561 million in 2023. Available Liquidity at Year-End 2024: Nearly $1.7 billion. Q4 2024 Lumber Segment Adjusted EBITDA: $21 million. Q4 2024 North America EWP Segment Adjusted EBITDA: $127 million. Q4 2024 Pulp & Paper Segment Adjusted EBITDA: $10 million loss. Q4 2024 Europe Business Adjusted EBITDA: $2 million. Q4 2024 Cash Flow from Operations: $173 million. Net Cash Balance at Year-End 2024: $412 million. 2024 Capital Expenditures: $156 million in Q4. 2025 Forecasted Capital Expenditures: $400 million to $450 million. Warning! GuruFocus has detected 4 Warning Sign with WFG. Release Date: February 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. West Fraser Timber (NYSE:WFG) generated $140 million of adjusted EBITDA in Q4 2024, representing a 10% margin. The North American Engineered Wood Products segment showed strength with $127 million of adjusted EBITDA in Q4. Full year 2024 adjusted EBITDA was $673 million, an improvement from $561 million in 2023. The company has nearly $1.7 billion of available liquidity, providing financial flexibility. Proactive acquisitions and mill portfolio optimization initiatives have improved performance and lowered costs. Reduced Southern Yellow Pine lumber volumes offset gains in other segments. The Pulp & Paper segment incurred a $10 million adjusted EBITDA loss in Q4 due to major maintenance shutdowns. A $70 million noncash impairment of goodwill was reported in the European segment due to weaker macroeconomic conditions. Softwood lumber duties and potential new tariffs create uncertainty for future operations. Higher operating cash flows were offset by $156 million of capital expenditures and $50 million towards share buybacks and dividends, leading to a decrease in net cash balance. Q: What are you doing and what are you seeing from both your peers and those downstream in terms of preparing for the tariffs? Are you seeing lumber move differently than you would normally see it? A: Sean McLaren, President, CEO: It's difficult to see exactly what others are doing. From our perspective, we have maintained normal inventory levels and are selling normally in the market. Our focus is on being flexible with our operating schedules given potential scenarios. Matt Tobin, SVP Sales and Marketing, added that customer purchasing appears to be within normal range. Q: In your scenario planning for the tariffs, what is the general frame of mind regarding the US portfolio versus the Canadian portfolio? A: Sean McLaren, President, CEO: It's difficult to predict, but we have experience dealing with duties and can react accordingly. We are well-positioned to react in both Canada and the US to meet customer needs. Q: Does the SPF and OSB volume guidance for 2025 consider potential tariffs? A: Sean McLaren, President, CEO: The guidance reflects current conditions without speculating on potential border measures. Christopher Virostek, CFO, added that the guidance will be updated as the year progresses and situations evolve. Q: What are your hopes or expectations for the outcome of the BC government's review of its timber sales program? A: Sean McLaren, President, CEO: We remain hopeful for improved access and stability in fiber availability. We are working with the BC government and our indigenous partners to improve access and ensure long-term viability for our mills. Q: How much of your Canadian OSB goes to the US? A: Sean McLaren, President, CEO: Approximately 40% of our OSB capacity is in Canada, and 90% of our total North American production ends up in the US. Christopher Virostek, CFO, noted that the exact number fluctuates based on market strength and seasonal factors. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
