Empire State Realty Trust reports second consecutive quarterly loss

first_imgEmail Address* Malkin said the company’s focus on indoor environmental quality enabled its tenants to return to their offices safely. Occupancy at ESRT’s buildings has grown to 45 percent in Westchester and 55 percent in Connecticut, while occupancy in its New York City buildings stayed below 15 percent, he said.During the third quarter, Li & Fung signed a new lease for about 103,000 square feet for an 8.3-year term at the Empire State Building, according to the company. In October, Centric Brands inked a new 212,000-square-foot lease for a 7.9-year term at the iconic skyscraper. Centric Brands had been subletting the space from Global Brands Group.Still, the REIT has implemented a series of cost-cutting measures to weather the ongoing crisis. It furloughed 156 employees at two locations — 60 East 42nd Street and the Empire State Building — and laid off six, according to a WARN notice from the state’s Department of Labor.In addition, the company has suspended its third and fourth quarter dividend to shareholders.“The management team and the board believes that payment of a dividend is currently not the highest and best use of our balance sheet, giving continued uncertainty in the macro environment, benefits of maximizing our operating runway and a significant discounted valuation of our stock,” said CFO Christina Chiu.The firm also faces a unique challenge in the Observation Deck, whose attendance during the third quarter was only 6 percent compared to a year ago.The revenue from the observatory was $4.4 million, down 88 percent compared to the same period last year when it took in $37.6 million.“We are confident that travel will return, and we are confident about the future of New York City,” Malkin said. “We also believe that we will not be out of the disruptions from Covid 19 until we see free travel in and out of New York City from states and countries.”Contact Akiko Matsuda Message* Share via Shortlink Tony Malkin (Getty, iStock)The Empire State Building’s observation deck reopened to the public three months ago, but that hasn’t been enough to help its owner stem its losses this year.Empire State Realty Trust reported a net loss of $12.3 million, down from $26.8 million in net income a year ago, the real estate investment trust reported during its quarterly earnings call Thursday. Its total revenue during the third quarter was $146.6 million, down by 24 percent year-over-year.This is the second consecutive quarter in which the REIT reported a net loss; it lost $19.6 million in the second quarter.“ESRT continues to adjust on a daily basis to smooth tenant re-entry, collect rents, manage Observatory visits, assist survival of our local retail tenants, and ensure ESRT employee safety,” said Tony Malkin, the company’s CEO and president, during an earnings call Thursday.Third-quarter rent revenue from ESRT’s 10.1 million-square-foot portfolio in New York City, Westchester County and Connecticut was $140 million, down 7 percent compared to a year ago, but up 1 percent from the second quarter. Rent collections hit 94 percent, up 9 percentage points.Read moreEmpire State Realty Trust lost $20M in Q2Empire State Realty cancels dividend for rest of 2020A third of Empire State Realty Trust tenants sought rent relief: Q1 reportcenter_img Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Full Name* TagsCommercial Real Estateoffice marketlast_img read more

Gaea makes 20% investment in Behaviour Interactive

first_imgGaea makes 20% investment in Behaviour InteractiveLeading Canadian indie cites expansion in China as motivation for the dealMatthew HandrahanEditor-in-ChiefTuesday 16th October 2018Share this article Recommend Tweet ShareCompanies in this articleBehaviour InteractiveBehaviour Interactive has sold a 20% stake to the Chinese publisher Gaea Interactive Entertainment.The Montreal-based developer was already working with Gaea on a mobile game based on Game of Thrones, and cited the need to build its business in China as a motivation to take the investment.Related JobsSenior Game Designer – UE4 – AAA United Kingdom Amiqus GamesProgrammer – REMOTE – work with industry veterans! North West Amiqus GamesJunior Video Editor – GLOBAL publisher United Kingdom Amiqus GamesDiscover more jobs in games “As a Montreal based organization, we understand that the gaming industry continues to grow rapidly on every continent”, said Behaviour CEO Remi Racine. “This strategic partnership with GAEA will fuel our global growth on all platforms.”Behaviour is the biggest independent developer in Canada and, at more than 25 years-old, one of its oldest. It has collaborated with a host of major publishers, and created the successful horror IP Dead by Daylight, the rights to which it bought back from Starbreeze for $12 million in March this year.Gaea has also partnered with Bethesda to publish The Elder Scrolls: Legends in China.Celebrating employer excellence in the video games industry8th July 2021Submit your company Sign up for The Daily Update and get the best of GamesIndustry.biz in your inbox. Enter your email addressMore storiesDead by Daylight studio apologises following developer comments about colourblind modeThe employee said it was “getting very boring” to be hearing someone “blabbing about colourblind mode all the time”By Marie Dealessandri 3 months agoNext-gen will be “tectonic plates” shifting underneath marketersBehaviour’s new chief marketer officer David Reid talks about how much the strategy of selling games has changed and the future of streamingBy Brendan Sinclair A year agoLatest comments Sign in to contributeEmail addressPasswordSign in Need an account? Register now.last_img read more

Stuart R. Horne Foundation to Support Canadian Eventers

first_imgMore from Horse Sport:Christilot Boylen Retires From Team SportAfter an exemplary career as one of Canada’s top Dressage riders, seven-time Olympian Christilot Boylen has announced her retirement from team competition.2020 Royal Agricultural Winter Fair CancelledFor only the second time in its history, The Royal Agricultural Winter Fair has been cancelled but plans are being made for some virtual competitions.Royal Agricultural Winter Fair Statement on 2020 EventAs the Province of Ontario starts to reopen, The Royal’s Board and staff will adhere to all recommendations put forward by government and health officials.Government Financial Assistance for Ontario FarmersOntario Equestrian has recently released this update of several financial assistance packages available, including those for farm business. Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition! We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. SIGN UP Email* Horse Sport Enews Equine Canada (EC) is pleased to announce that the Stuart R. Horne Foundation will be providing support to Canadian eventing athletes through two new funding programs.The first of the inaugural programs is the Stuart R. Horne Canadian Eventing Championships, which will take place at the 2016 Jaguar Land Rover Bromont Three-Day Event, set for June 9-12, 2016 in Bromont, QC. Through this initiative, the CIC 3* division will offer a total of $6,500 divided among the top four finishers, as well as a championship cooler and ribbons to eighth place.In addition, the Horne Training Grant of $2,500 will be awarded to the 2015 Canadian International High Point Eventing Athlete, chosen based on the FEI World Athlete Ranking List for Eventing.Presenting the awards in honour of her father will be Bridget Colman, who is heavily involved in the sport of eventing in Canada as an owner of international eventing horses. Her daughter, Mia Colman, is an up-and-coming eventing rider who received a 2015 Triple Crown Junior Young Rider Pro Scholarship and is aiming to represent Canada at the 2016 FEI North American Junior and Young Rider Championships (NAJYRC).The 2016 Jaguar Land Rover Bromont Three-Day Event is the only CCI 3*/CIC 3* event hosted in Canada for 2016, and will act as the final qualifier in North America for the 2016 Rio Olympics Games. For more information on the Bromont competition, visit www.bromontcci.com. Tags: Stuart R. Horne Foundation, last_img read more

Joker’s Superglue Victim to Toilet

first_imgUNITED KINGDOM — A man was taken to hospital stuck to a public toilet after a vandal covered the seat with superglue. “Despite our best efforts, it was not possible to remove the 35-year-old man from his position so, with the help of the fire and rescue service, the man was removed from the cubicle still attached to the toilet.”Doctors used chemicals to free the man after the incident on Saturday in Brierley Hill, near Dudley. A spokesman said: “He appeared to be none the worse for his ordeal other than being understandably somewhat embarrassed.” A West Midlands ambulance service spokesman said: “The man was using the facilities when he became stuck on the seat. It appears as though someone had left glue on it.center_img The stainless-steel lavatory was removed from the cubicle with the man still attached, after the emergency services failed to free him.last_img read more

Liverpool Paramedics Upset Over Novelty Sock Ban

first_imgRead More, Liverpool paramedics slam NHS on navelty socks Ambulance chiefs are threatening paramedics with the sack if they insist on wearing novelty socks.Uniformed staff have been barred from wearing socks with images of cartoon characters, jokes and garish patterns after bosses branded them “unprofessional”.The strict uniform policy, issued by North West Ambulance Service, also bans wrist watches, visible body piercing, excessive make-up and certain tattoos.And staff have been warned they could be disciplined and ultimately even sacked if they flout the dress code which forms part of their terms of employment.However, the move have been slammed by critics who have dismissed the novelty sock ban as a step too far.Spokesman for the Association of Professional Ambulance Personnel, Jonathan Fox, said: “I am a firm believer in having a dress code but this is stretching the rules too far.“The majority of staff wear boots so their socks can’t even be seen.“North West Ambulance Service should be addressing more important issues like why paramedic training has been stalled for months.”last_img read more

Continental bringing sustainable dandelion rubber Taraxagum tires to Tour de France

first_imgAs a key sponsor of Le Tour, Continental is using the race to roll out their first production bicycle tires made from dandelion rubber in a few weeks. Conti has been ramping up corporate sustainability in recent years, and this new Urban Taraxagum bike tire is an example of alternative rubber source that is less harmful to the environment.Continental sustainable dandelion rubber Taraxagum tiresphotos courtesy ContinentalIn late autumn last year German tire-maker Continental opened up their Taraxagum Lab Anklam research laboratory to further develop more sustainable rubber production made out of dandelions. The process uses a hardy Russian dandelion plant that can be grown close to the rubber factories and does not need to be harvested in the rain forest as with conventional natural rubber.Besides not harming vulnerable environments, the resulting dandelion rubber cuts CO2 emissions in the process due to shorter transportation required, and means a European tire maker like Conti won’t have to rely on imported rubber. We saw Vredestein showcase this same tire technology back at Eurobike two summers ago, but it hasn’t ever made it into production as far as we know.At Le Tour the tire Conti will be showing isn’t a pro-level road racing tire, but rather the Urban Taraxagum commuter tire. (Six World Tour teams will race on conventional Continental tires, though.) Still meant to be a performance 700c tire, it is slated to be available in limited quantities this summer in a lightweight 35mm wide version with an integral Vectran breaker as a fast-rolling all-rounder.But it isn’t destined to only be a commuter-level tire. Conti says their Taraxagum Lab is looking at redeveloping their signature Black Chili rubber with a dandelion base. Continental already produces the only ‘handmade in Germany’ bike tires on the market. But with the dandelions grown in northeast Germany in Anklam & the tires produced in their more central Korbach tire factory, these Urban Taraxagums are set to be the most German bike tire yet.Continental Executive Board member Nikolai Setzer called the Taraxagum dandelion rubber project, “an important alternative and complementary to conventional natural rubber from hevea brasiliensis allowing us to meet rising global demand in an environmentally compatible and reliable way.”Continental-tires.comlast_img read more

Broadway Grosses: SpongeBob SquarePants Starts Strong at the Palace Theatre

first_img View Comments Related Shows SpongeBob SquarePants Broadway’s newest musical comedy SpongeBob SquarePants kicked off preview performances on November 6, and audiences are already eager for a first look. The new show based on Nickelodeon’s celebrated cartoon saw big numbers in its first week. In just seven performances, the musical featuring original music by Cyndi Lauper, Sara Bareilles, The Flaming Lips and Panic at the Disco took in a gross of $615,879.00 and filled the Palace Theatre to 85.81% capacity. SpongeBob SquarePants, led by Ethan Slater in the title role alongside Broadway.com vlogger Lilli Cooper as Sandy Cheeks, officially opens on December 4, and we have no doubt that the show will take lucky theatergoers to a pineapple under the sea for years to come.Here’s a look at who was on top—and who was not—for the week ending November 12:FRONTRUNNERS (By Gross)1. Hamilton ($3,143,107.00)2. Springsteen on Broadway  ($2,395,570.00)*3. Hello, Dolly! ($2,352,791.81)4. The Lion King ($1,908,293.00)5. Dear Evan Hansen ($1,680,818.20)UNDERDOGS (By Gross)5. The Parisian Woman ($579,771.51)**4. Latin History for Morons ($454,807.00)***3. The Play That Goes Wrong ($435,298.25)2. Once on This Island ($381,169.50)***1. Time and the Conways  ($356,453.41)FRONTRUNNERS (By Capacity)1. The Book of Mormon (102.01%)2. Come From Away (101.89%)3. Hamilton (101.81%)4. Dear Evan Hansen (101.52%)5. Once on This Island (100.72%)***UNDERDOGS (By Capacity)5. M. Butterfly (79.91%)4. The Play That Goes Wrong (79.80%)3. The Phantom of the Opera (79.42%)2. School of Rock (76.81%)1. Miss Saigon (74.74%)*Number based on five regular performances**Number based on five preview performances***Number based on six preview performancesSource: The Broadway League Show Closed This production ended its run on Sept. 16, 2018last_img read more

Sell-out 2013 Frankfurter Sparkasse Ironman European Championship

first_img Related General entry for the 2013 Frankfurter Sparkasse Ironman European Championship in Frankfurt, Germany, is now closed. According to Ironman brand owner World Triathlon Corp (WTC), the event reached capacity in ‘just a few weeks’. This hitting of capacity follows recently confirmed sell-out events for Ironman Lake Placid, which has just confirmed a contract extension, and Ironman 70.3 Zell am See in Austria.The iconic Frankfurter Sparkasse Ironman European Championship race in Germany has become one of the most popular on the international Ironman circuit, partly because of the ‘Tour-like atmosphere’ that pervades the race from start to finish.It all begins with a fast swim in a small lake called the Langenaar Waldsee just outside town, where thousands are on hand to ensure the day starts with lots of cheering and noise. The competitors then fly through a quick 12K stretch into the city of Frankfurt, where they begin two 84K bike loops.While there are hills on the course that have names such as ‘Heartbreak’ and ‘Beast’, and even one cobble stoned climb called ‘Hell’, those don’t seem to slow things down as some of the best triathletes in the world fly through a course that manages to combine a big city feel and beautiful rural scenery.The run course, which consists of a series of out and back loops along the River Main, is jam-packed with spectators along the way. Athletes who have tried to drop out of the race in the past have found themselves virtually pushed along by the cheering crowds.The day ends at the finish line in the Romer, the site where Germany’s kings were once crowned. It’s a fitting end to a dramatic race day.www.ironmanfrankfurt.comlast_img read more

‘Speak out in the face of injustice’: Overland Park resident Judy Jacobs shares memories as a Holocaust survivor, encourages practicing kindness toward others

first_imgAs part of its 10th annual event to share stories of Holocaust survivors, Johnson County Library invited Overland Park resident Judy Jacobs to talk about her experiences as a child in Hungary and in the Bergen-Belsen concentration camp during World War II.In a Zoom webinar on July 8, Jacobs gave a firsthand account of her childhood experience in the concentration camp.Born in 1937 in Budapest, Hungary, Jacobs recalls a happy childhood with her family. Her father was a radiologist, her mother an artist. She and her family felt the weight of anti-Semitism and the war from a young age, as Jews were systematically stripped of their rights.In March 1944, Nazi Germany invaded and occupied Hungary, and from July to December of that year, Jacobs and her parents were incarcerated in the Bergen-Belsen concentration camp in Germany. She lost her extended family in the death camps as well.A portrait of Judy Jacobs.“Staying alive for one more day became a primary objective,” Jacobs said. “Every morning as we awakened, we realized we had triumphed by surviving one more day.”In December 1944, the three were taken to Switzerland. Two years later, they immigrated to the United States, where Jacobs married and had children. She has lived in the Kansas City area for many years.Jacobs raised many examples of how brutality against humanity continue today, and noted that geography is no barrier. She spoke of examples around the world, like Boko Haram in Africa forbidding Western education and promoting jihad and extreme brutality, and also genocide against the Muslim Rohingya, a minority people in Myanmar. She gave local examples as well.Dozens of listeners tuned in to hear Judy Jacobs tell her story.“Within the last week or so, we’ve read about a Shawnee Mission School District principal accused of harassment and inappropriate behavior,” Jacobs said.Dozens of listeners tuned in to hear her story, and many of them asked questions and thanked her for sharing. As to what individuals can do in the face of future catastrophes, Jacobs said she has no answers but does have some suggestions.“First of all, begin at the grassroots; you and I and everybody else, we make up society, and we should all resolve to try to make this a better world,” she said. “Begin with education; understanding the past and understanding what motivates people, people, who may be different from us. Practice kindness toward one another; practice the Golden Rule. “Whatsoever thou wouldest that men should not do unto thee, do not do that unto them. Speak out in the face of injustice. Do not be a bystander. Bystanders are not innocent. And vote. Voting is the best way to effect change.”Jacobs has shared her testimony several times, including with the Midwest Center for Holocaust Education; she also gave her testimony in a speech in 2016 to her alma mater, University of Missouri-Kansas City, when she received the university’s Defying the Odds Alumni Achievement Award.The Johnson County Library event is available to view below.last_img read more

APG to Launch iX Series of Fixed Installation Speakers

first_imgAPG will officially launch its new iX series at the ISE trade show (Amsterdam, 11th-14th February 2020) in Hall 3, Stand B120. Including a full line of fixed installation speakers, the new iX range uses non-diffraction acoustic baffling that allows pure source directivity. For some of the iX models, APG has created coaxial devices that strike a perfect physical alignment between low and hi transducers.Scheduled to be shipping from April 2020, the iX Series is made up of five coaxial speaker models: iX5, iX6, iX8, iX12 and iX15; all of which are two acoustic way speakers loaded in bass-reflex for low-frequency extension. APG will also introduce at the show a future extension of the range with two unique models of pseudo-coaxial speakers — the iX2.5 and IX2.6 — optimized for vocal applications.The speakers are designed for a variety of applications, including main FOH or distributed sound reinforcement (front fill, out fill, infill, under-balcony, delay lines) in all types of venues (theaters, concert venues, clubs, bars, restaurants, conference rooms, congress centers). It is also possible to combine iX speakers with APG’s popular Uniline and Uniline Compact systems.All iX models have been ergonomically optimized to make them as compact as possible, with smart accessories for discrete installation, customizable colors and a weatherproof finish. And, the iX speakers are compatible with APG’s SB subwoofers, while the company provides all standard processor settings of APG electronics and customized settings for other brands such as Powersoft.The APG iX Series:iX5: APG’s iX5 is a miniature, two-way full range and passive loudspeaker fitted with a 5″ long excursion LF driver and a coaxial dome tweeter (120° conical dispersion). The iX5 is characterized by its sound quality, which is close to the best studio monitors.iX6: The iX6 is fitted with a 6.5″ driver loaded in a bass-reflex while HF is handled by a coaxial dome tweeter (105° conical acoustic opening). It offers clear and precise sound reproduction of mid / high frequencies up to 20 KHz. iX8: The iX8 features a coaxial device fitted with 8″ cone driver and independent HF compression driver. The coaxial mounting offers perfect acoustic dispersion with a homogenous dispersion coverage of 110°.iX12: The iX12 is a two-way, full-range compact loudspeaker fitted with a coaxial coupling of 12″ and a 1″ HF compression driver (filtered). The non-diffraction baffling creates a perfectly coherent acoustic field with a conical dispersion of 100° and a minimal feedback effect of 4dB.iX15: The iX15 is a two-way full-range speaker fitted with 15″ neodymium driver including a forced thermal ventilation system and a 1.4″ neodymium HF compression driver. This results in an exceptional sound pressure capacity down to 60Hz and up to 19KHz.APG is here.last_img read more