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Miami Herald
a day ago
- Automotive
- Miami Herald
Trucking industry parts company closes; no bankruptcy revealed
The Covid-19 pandemic had a huge impact on the automotive industry as manufacturing plants stopped making vehicles in March 2020 and slowly resumed operations in May 2020 under strict social distancing and sanitation requirements.. With a lack of inventory coming into automobile dealer showrooms, after two months of shuttered manufacturing plants, prices on the existing new vehicles increased dramatically as the supply of cars and trucks began to shrink. Don't miss the move: Subscribe to TheStreet's free daily newsletter Consumers turned to the pre-owned market, at first to purchase more reasonably priced automobiles, then out of necessity from the lack of new vehicles, until the used car market began to be impacted by high demand as well. Related: Classic auto parts company files for Chapter 11 bankruptcy The next option for consumers was to hang on to their vehicles, repair them, and keep them running. Auto parts manufacturers and retailers were able to take advantage of vehicle inventory shortages and rising car prices as the demand for auto parts for repairs increased. When interest rates spiked after the Covid 19 pandemic, however, several auto parts suppliers with huge debt obligations suffered from rising interest rates and inflation and faced financial problems. Some were forced to file for bankruptcy. Among the automotive aftermarket suppliers to file for bankruptcy was Wheel Pros, which operates as an auto parts distributor and retailer Hoonigan. The company filed for a prepackaged Chapter 11 bankruptcy on Sept. 9, 2024, to eliminate $1.2 billion in debt and provide about $570 million in new capital through an exit facility. Accuride Corp., another leading manufacturer of wheels and wheel-end products for commercial trucks and trailers, filed for Chapter 11 bankruptcy protection on Oct. 9, 2024, seeking a consensual restructuring of its debt to continue operating as a going concern. Motor vehicle parts manufacturer, Hypertech Inc., and two affiliates filed for Chapter 11 bankruptcy protection on April 11, 2025, to reorganize their businesses. The Memphis, Tenn.-based manufacturer of automotive performance electronics and components filed its petition in the U.S. Bankruptcy Court for the Middle District of Tennessee, listing $1 million to $10 million in assets and liabilities. Another huge automotive parts maker is shutting down permanently but has not filed for bankruptcy. Iconic heavy-duty truck parts remanufacturer and distributor TransAxle LLC will close all operations after 46 years in business, after failing to find a buyer for the company. Related: Iconic auto repair and tire chain closes over 100 stores The Cinnaminson, N.J.-based remanufacturer of truck drivetrain components, such as transmissions, axles, differentials, and hydraulics, will shut down its 13 locations by the end of August and lay off 209 workers, according to Worker Adjustment and Retraining Notification notices filed in several states. More closings: Popular retail chain to close unprofitable store locationsBankrupt retail chain unloads store leases, key assetPopular discount retailer files bankruptcy, closes all stores The company serves both light- and heavy-duty vehicles across all makes and models in the On Highway and Off Highway sectors. TransAxle's New Jersey WARN notice effective date period is Aug. 25, 2025, through Aug. 29, 2025, affecting 129 employees. TransAxle, at one point, was one of the largest East Coast remanufacturers and distributors of truck drivetrain components for the medium- and heavy-duty truck markets, FreightWaves reported. TransAxle was established in 1979 as a single, family-owned shop, which expanded to a nationwide, privately-owned remanufacturer with multiple locations, according to its website. The company currently operates 13 facilities in nine states, including Connecticut, Georgia, Maine, Maryland, New Jersey, New York, North Carolina, Pennsylvania, and Virginia. Related: Iconic auto repair chain franchise files Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
6 days ago
- Business
- Yahoo
Vallejo's Six Flags Discovery Kingdom hit by company's statewide layoffs
(KRON) — Employees at Six Flags Discovery Kingdom in Vallejo are facing layoffs as the amusement park's parent company plans to cut roughly 140 full-time jobs at its California parks by July 21. Six Flags Entertainment Corporation announced in May that it planned to cut its workforce by 10%. The company owns 42 amusement and water parks across the U.S., Canada and Mexico. Six Flags Discovery Kingdom – Vallejo Six Flags Hurricane Harbor – Concord California's Great America – Santa Clara Six Flags Magic Mountain – Valencia Six Flags Hurricane Harbor – Valencia Knott's Berry Farm – Buena Park Knott's Soak City – Buena Park Gas prices could soar with refineries closing in California According to a Worker Adjustment and Retraining Notification report filed with the State of California, Six Flags plans to cut 56 full-time jobs at Magic Mountain, 65 jobs at Knott's Berry Farm and 19 jobs at Discovery Kingdom. A spokesperson with Six Flags Entertainment Corporation told KRON4 that the company plans to 'complete the majority of the restructuring' by the end of June. 'Six Flags is in the process of reducing its full-time headcount across the company by just over 10%,' the company spokesperson said. 'This includes a restructuring of some roles. This decision was made after careful consideration and a thorough review of our evolving business needs.' The cuts come as the company's Bay Area parks open for the summer season. Date for special election to recall Supervisor Joel Engardio announced 'We are committed to supporting our associates through this transition,' the Six Flags spokesperson said. 'All eligible associates will be presented with either an opportunity to continue in a part-time role or will be provided with a separation package and other benefits.' On July 1, 2024, Six Flags Entertainment Corporation emerged with Cedar Fair Entertainment Company, becoming the largest amusement park operator in North America. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Economic Times
21-05-2025
- Politics
- Economic Times
Graduate Route shortened, Caregiver visas curtailed: The fine print of UK's White Paper on immigration
On May 12, 2025, the UK Government published a White Paper describing intended changes to the UK's Immigration system, which would mainly impact students, workers, and caregivers, among other things. ADVERTISEMENT These reforms are part of the UK government's continuing attempts to reduce net migration, which we have seen over the last 18-24 months. The overarching goals for these changes are: Reduction in net migration; Linking local skills and training requirements in the UK to deter employers from relying solely on immigration to fill their skills shortages; Build a fair and effective system that is clear and does not result in perverse outcomes; Stricter compliance and enforcement with immigration, including a severe crackdown on illegal workers and deportation of foreign criminals; and Enhancing the need for rules to promote social integration including the need for language skills and benefits for foreign nationals' contributions to the UK. These proposals will require rule changes or entirely new legislation to take effect. Hence, it is unclear when these reforms will take effect, but they will most likely be implemented in stages. (Join our ETNRI WhatsApp channel for all the latest updates) The proposed changes in the White Paper are broad and restrictive. Set out below are some of the key provisions. 1. Employment Based: Limit skilled worker sponsorship to graduate-level roles under the Regulated Qualifications Framework (RQF) 6+). This is a significant jump from the current high-school level (RQF3 – A levels). Under the proposed changes, any roles below RQF6+ must be on a dynamic, sector-based Temporary Shortage Occupation List. The Temporary Shortage Occupation List would provide time-limited access to the Points-Based immigration system. For an occupation to be included on the list: there must have been long term shortages; the MAC must have advised it is justified; there must be a workforce strategy in place; and employers seeking to recruit from abroad must be committed to playing their part in increasing recruitment from the domestic workforce. 2. Care Givers: Discontinue Care Worker Visas for new overseas candidates. However, until 2028, visa extensions and changes would be permitted for affected foreign nationals already present in the United Kingdom. ADVERTISEMENT 3. Students: Reduce the validity period of employment under the 'Graduate Route' to 18 months (down from the current 24 months). This route, which allows graduates to remain in the United Kingdom after their studies, would also be linked to job criteria, unlike the current situation, where there is no job level condition under this route. The paper also proposes adding a 6% tuition levy to overseas tuition fees. 4. Longer Path to citizenship: Increasing the necessary period of residence to be eligible for long-term residence to 10 years, up from the current five years. The government is also considering establishing a fast-track route under a social and economic contribution-based model, but details are not yet confirmed. Citizenship reforms would also mirror these changes, with necessary residence periods increasing to 10 years, up from the current five years. However, individuals may be able to reduce the qualifying period to settlement and citizenship based on contributions to the UK economy and society. ADVERTISEMENT 5. Language requirement changes: Increasing threshold requirements for main applicants already subject to the language requirement, who would need to achieve a B2 level of English under the Common European Framework of Reference (CEFR) system. The language requirement would also be applied to adult dependents (who must reach at least A1). It is not clear whether this will apply to all routes of immigration. 6. Highly skilled routes: Doubling the number of eligible institutions from which applicants for the High Potential Individual (HPI) route could graduate to qualify and streamlining and scaling the Global Talent and Innovator Founder visas. ADVERTISEMENT In addition to the above, proposed changes will be introduced to create a system supporting integration and community cohesion, including new rules on the ability to speak English and people's contribution to the Government also intends to explore how to ensure that employers, using the immigration system, are incentivized to invest in boosting domestic talent, including options to restrict employers sponsoring skilled visas if they are not committed to increasing skills training. They also intend to ensure that the very highly skilled individuals have opportunities to come to the UK and access our targeted routes for the brightest and best global talent. Enhanced Enforcement ADVERTISEMENT The regulations will also be changed to introduce tighter controls, restrictions, and scrutiny to deal with apparent abuse and misuse of the immigration system, from a crackdown on illegal work to the deportation of foreign criminals. This includes using e-Visas and modern technology, building systems in the banking system to monitor compliance with tax laws, and continuing the roll-out of digital identities for all foreign nationals. We expect the Government to introduce more restrictive and specific reforms to ensure compliance with the laws, including streamlining and expediting removal again, we would like to remind readers that the proposed reforms will require either regulatory changes or new legislation to be implemented. Accordingly, the timeline for any potential changes remains uncertain. Disclaimer: This article is drafted based on publicly available information and some of the comments are the author's personal views.
Daily Record
14-05-2025
- Politics
- Daily Record
Motherwell and Wishaw MSP hits out at UK Government's immigration proposals
The SNP's Clare Adamson joined calls from the care sector and other industries for Sir Keir Starmer to urgently abandon his proposed restrictions on international recruitment Motherwell and Wishaw MSP Clare Adamson has hit out at Labour's 'reckless and damaging' migration proposals, warning that the plans would be devastating for local NHS and care services and risk harming the Scottish economy. The SNP's Clare Adamson joined calls from the care sector and other industries for Sir Keir Starmer to urgently abandon his proposed restrictions on international recruitment, which would block access to much needed overseas workers in key sectors like health and social care. Recent remarks from Scottish Care and UNISON have highlighted the deepening workforce crisis in care, and the risk of collapse if international recruitment is restricted further. Ms Adamson said: 'Labour have shown their true colours. Keir Starmer's comments on immigration were despicable. 'Turning people against one another to cover his own failures does not represent change; we became used to that under the Tories. 'Migration brings immense economic, social, and cultural benefits. The people who have made their home in Scotland are a valued part of our society. 'Labour's plans are a direct threat to our NHS and care services in Lanarkshire. Like other communities across Scotland, dedicated international workers are integral to keep our hospitals, care homes and community services running. 'We have an ageing population and, bluntly, we need inward migration to boost the economy and broaden the tax base as well as enriching our culture. 'Pandering to anti-immigrant sentiment and slamming the door shut on international recruitment hurts our public services, threatens jobs, economic growth, and our ability to care for the most vulnerable in our community.' Prime Minister Sir Keir Starmer has promised migration to the UK will fall under his new rules, set out in a white paper. Starmer has promised to 'tighten up' the immigration system, which he says is 'broken'. The plans include the introduction of English tests for all visa applicants and their adult dependants, and 10-year wait before migrants can apply to settle in the UK. The plans bring together months of research by officials and set out Labour's strategy to get tougher on migration. Successive governments have tried unsuccessfully to reduce net migration, which is the number of people coming to the UK minus the number leaving. Net migration climbed to a record 906,000 in June 2023, and last year it stood at 728,000. The threshold for Skilled Worker Visas is expected to be increased to graduate level, tightened from the current A-level measure - while the list of exceptions to the rules for temporary shortage visas in some industries will be narrowed. Home Secretary Yvette Cooper revealed on Sunday that Labour will change the rules to ensure care workers will no longer be recruited from overseas. Instead, firms will be required to hire British nationals or extend visas of overseas workers already in the country. *Don't miss the latest headlines from around Lanarkshire. Sign up to our newsletters here. And did you know Lanarkshire Live is on Facebook? Head on over and give us a like and share!
Fox News
02-05-2025
- Health
- Fox News
Ivy League suicides, Princeton's 8th student death in 4 years expose crisis at elite schools
This story discusses suicide. If you or someone you know is having thoughts of suicide, please contact the Suicide & Crisis Lifeline at 988 or 1-800-273-TALK (8255). The recent death of a Princeton University undergraduate student, just weeks away from completing his junior year, has prompted renewed conversation about how Ivy League schools handle mental health crises on campus. Lauren Blackburn, 23, was an English major and creative writing minor from Indiana. He was missing for several days before authorities found him deceased in a lake. Officials have not released his cause of death or said if there was any foul play involved. Blackburn was the third Princeton undergraduate student to die in two years and the eighth since 2021. Six of those deaths were determined to be suicides, as The Princetonian first reported. Princeton Professor Yiyun Li, who directs the university's creative writing program, lost both of her sons to suicide, one of whom, James Li, was a Princeton student when he died in 2024. "What can parents do but give their children the space to be, and allow them to do what they need so that they can become more fully themselves?" Yiyun Li wrote in a New Yorker essay titled "The Deaths — And Lives — of Two Sons" published on March 23. "And yet, despite the parents' efforts, and despite all the beings and doings that occur as the children grow, some among them die before their time. Children die, and they are not happy. And their parents can never know whether those children died because they were not happy, or whether they were not happy because they sensed, too early, that they must face their own deaths." While mental health crises and suicides are not unique to Princeton, or Ivy League schools generally, experts say Ivy League students face distinct challenges and pressures while attending the country's most prestigious schools. Experts also say Ivy League institutions should be dedicating more funds to mental health resources than they do currently. "I think it comes down to the demands, and I would say almost 100% of the time, the Ivy League schools have really high rigorous demands," Ivy Ellis, certified mental health therapist and Licensed Clinical Social Worker (LCSW) who regularly works with college students, told Fox News Digital. "Whereas at other universities, the demands can be lower in terms of just how much schoolwork is asked, like how many classes they have to take, how much homework they have, how many tests they have." Ellis added her belief that while Ivy League schools do "care" about their students, "There's limited funding and limited resources that go towards mental health." "There's limited funding and limited resources that go towards mental health." "So almost all the universities and Ivy League schools have counseling centers in place, and I know they're excellent, excellent counselors," she said. "They work really hard. There's just such a high number of students that need that support, and the number of counselors just doesn't really meet that level of support." Dr. Victoria Grinman, a psychotherapist and owner of a private practice called Growing Kind Minds who also works with college students, told Fox News Digital that "colleges across the board are seeing mental health crises, unfortunate things happening and people struggling." "So I don't think that it's necessarily just about Ivy League institutions. But we also have to be aware that when … a teen is entering into an Ivy League institution, there are some expectations and standards that differ. And with those standards comes a lot of self-expectations," she said. "[W]hen … a teen is entering into an Ivy League institution, there are some expectations and standards that differ." None of the eight traditional Ivy League schools — Harvard, Yale, Princeton, Brown, Dartmouth, Cornell, the University of Pennsylvania and Columbia — responded to Fox News Digital's request for student death data between 2020 and the present, or what resources they offer students experiencing mental health crises. At Dartmouth University, two students were found dead in the Connecticut River last year; one of those student's deaths has been attributed to a hazing incident. The university also saw four student deaths in 2021. Following the two 2024 deaths of students, both of whom were Asian, now-graduates Daniel Lin and Deborah Jang penned an op-ed for The Dartmouth criticizing the school's response to the two tragedies as racist. "A symptom of this invisible racism is that we ourselves become invisible — to others and to ourselves," they wrote. "...There was no lasting public discussion on the racialization of the two deaths. It's not lost on us that two Asian students died in three months. The College could have named this; they could have made an effort to reach out to the Asian community. This reality leaves me feeling like these conversations can only happen behind closed doors, mostly among Asian students." The authors added that "Dartmouth does not have even the bare minimum support for Asian students." Last year, two Cornell University students were found on the same day in the Fall Creek Gorge, one of whom died while the other was hospitalized. The university saw a string of suicides around 2010, and one victim's father sued Cornell for negligence by not implementing appropriate suicide prevention measures related to the numerous bridges in the Ithaca, New York, area. He accepted a $100,000 settlement from the city in 2014, according to The Ithaca Journal. "These bridges and adjacent cliffs have developed an iconic status for suicide due to multiple jumping suicides among enrolled Cornell students and other individuals," a summary of a 2024 case study reads. "Cornell University and the City of Ithaca have a unique challenge where multiple bridges and gorges collectively had become a 'hotspot' for suicide." Yale recently faced a lawsuit following the 2021 suicide of first-year student Rachael Shaw-Rosenbaum accusing the university of discriminating against students with disabilities because it required students on mental health leaves to withdraw from Yale and reapply, according to The New York Times. Yale has since changed its policies. Back in 2017, Columbia University saw a string of seven suicides between September and January of that year, as The New York Post reported at the time. Grinman noted that the college experience has changed drastically in recent years, "especially with social media and just what it's become." "It's a place where people are actually launching into the next phase of development," Grinman said. "Everybody, even if they don't know what they want to do in college, they want to go to college because they want to have the college experience. It's where kids are starting their lives, right? They're learning how to live on their own, how to be in social groups, how to do things on their own. So it's a very, very sensitive time," she said. Students who may have been "big fish in a small pond" in high school may find that's not the case at a prestigious institution, "and there is some angst around comparison," she explained. Ellis suggested more colleges and universities should offer "early intervention" resources, targeting mental health concerns before they develop into self-harm or suicidal ideation. "If the universities could help facilitate these dialogues and make it less of a taboo to have mental health struggles, and then even maybe some systems in place for screening so that they're able to help these students earlier on so it doesn't get so intense that the students are just failing out of school or even engaging in really harmful behaviors," she said. The eight Ivy League schools received a total of $6.4 billion in federal funding in 2024. Financial statements from Columbia University show that it received $1.3 billion in federal funding; the University of Pennsylvania received $1.8 billion and Yale University received $898.7 million during 2024. Not far behind were Cornell University, receiving $825.5 million in fiscal year 2024, and Harvard University, which received $686.5 million. Princeton University took in $455 million, Brown University reported "more than $254 million" and, according to USA Spending, Dartmouth received $141.9 million in 2024. The funds that universities receive from the federal government are often in the form of grants and used for research and development, facility and administrative costs and student aid. The Trump administration has frozen billions in federal funding to colleges and universities that do not comply with the president's executive orders to protect Jewish students from hate and dismantle DEI policies. The White House did not respond to a request for comment. Each of the eight total Ivy League schools have mental health resources ranging from counseling hotlines and centers to student-run support groups. Suicide continues to be a leading cause of death within the United States, with 49,000 people dying by suicide in 2023, according to the latest data from the Centers for Disease Control and Prevention (CDC). Suicide rates increased 37% between 2000-2018 and decreased 5% between 2018-2020 before returning to their peak in 2022, according to the agency. "I think one of the most important things is thinking about going back to the basics of, hey, if you know that Billy down the hall lives alone in an individual room and you haven't seen him in a day or two, he hasn't attended Psych 101 with you … knock on his door, ask, how are you? Can I get you something? Just going back to the basics of loving your neighbor," Grinman said.
