GitHub today announced GitHub Copilot Free, a free new tier of GitHub Copilot that integrates directly with Visual Studio Code. “Now automatically integrated into VS Code, all of you have access to 2,000 code completions and 50 chat messages per month, simply by signing in with your personal GitHub account,” . “Copilot Free gives you the choice between Anthropic’s Claude 3.5 Sonnet or OpenAI’s GPT-4o model. You can ask a coding question, explain existing code, or have it find a bug. You can execute edits across multiple files. And you can access Copilot’s third-party agents or build your own extension.” Sign up for our new free newsletter to get three time-saving tips each Friday — get free copies of Paul Thurrott's Windows 11 and Windows 10 Field Guides (normally $9.99) as a special welcome gift! , it appears that the main limitation of GitHub Copilot Free when compared to the free versions is usage-based: Where GitHub Copilot Pro, Business, and Enterprise all offer unlimited messages, interactions, and real-time code suggestions each month, the free version tops out at 50 messages and interactions, and 2000 code suggestions per month. It also doesn’t offer pull request, issue, and discussion summaries, and some other high-end features. But the basics are all there: You can use different models, tailor the chat to your codebase, integrate with unlimited GitHub Copilot extensions, build your own private extensions, access core features like chat and prompt suggestions, and get code feedback in Visual Studio Code. : With this, GitHub Copilot becomes a core part of the Visual Studio Code experience. . Paul Thurrott is an award-winning technology journalist and blogger with 30 years of industry experience and the author of 30 books. He is the owner of and the host of three tech podcasts: with Leo Laporte and Richard Campbell, , and with Brad Sams. He was formerly the senior technology analyst at Windows IT Pro and the creator of the SuperSite for Windows from 1999 to 2014 and the Major Domo of Thurrott.com while at BWW Media Group from 2015 to 2023. You can reach Paul via , or . Join the crowd where the love of tech is real - become a Thurrott Premium Member today! Sign up for our new free newsletter to get three time-saving tips each Friday
An online debate over foreign workers in tech shows tensions in Trump’s political coalitionFORT LAUDERDALE, Fla. (AP) — Republican senators pushed back on Sunday against criticism from Democrats that Tulsi Gabbard , Donald Trump’s pick to lead U.S. intelligence services , is “compromised” by her comments supportive of Russia and secret meetings , as a congresswoman, with Syria’s president, a close ally of the Kremlin and Iran. Sen. Tammy Duckworth, D-Illinois, a veteran of combat missions in Iraq, said she had concerns about Tulsi Gabbard, Trump’s choice to be director of national intelligence . “I think she’s compromised,” Duckworth said on CNN’s “State of the Union,” citing Gabbard’s 2017 trip to Syria, where she held talks with Syrian President Bashar Assad. Gabbard was a Democratic House member from Hawaii at the time. “The U.S. intelligence community has identified her as having troubling relationships with America’s foes. And so my worry is that she couldn’t pass a background check,” Duckworth said. Gabbard, who said last month she is joining the Republican party, has served in the Army National Guard for more than two decades. She was deployed to Iraq and Kuwait and, according to the Hawaii National Guard, received a Combat Medical Badge in 2005 for “participation in combat operations under enemy hostile fire in support of Operation Iraqi Freedom III.” Duckworth’s comments drew immediate backlash from Republicans. “For her to say ridiculous and outright dangerous words like that is wrong,” Sen. Markwayne Mullin, R-Oklahoma, said on CNN, challenging Duckworth to retract her words. “That’s the most dangerous thing she could say — is that a United States lieutenant colonel in the United States Army is compromised and is an asset of Russia.” In recent days, other Democrats have accused Gabbard without evidence of being a “Russian asset.” Sen. Elizabeth Warren, a Massachusetts Democrat, has claimed, without offering details, that Gabbard is in Russian President Vladimir “Putin’s pocket.” Story continues below video Mullin and others say the criticism from Democrats is rooted in the fact that Gabbard left their party and has become a Trump ally. Democrats say they worry that Gabbard’s selection as national intelligence chief endangers ties with allies and gives Russia a win. Rep. Adam Schiff, a California Democrat just elected to the Senate, said he would not describe Gabbard as a Russian asset, but said she had “very questionable judgment.” “The problem is if our foreign allies don’t trust the head of our intelligence agencies, they’ll stop sharing information with us,” Schiff said on NBC’s “Meet the Press.” Gabbard in 2022 endorsed one of Russia’s justifications for invading Ukraine : the existence of dozens of U.S.-funded biolabs working on some of the world’s nastiest pathogens. The labs are part of an international effort to control outbreaks and stop bioweapons, but Moscow claimed Ukraine was using them to create deadly bioweapons. Gabbard said she just voiced concerns about protecting the labs. Sen. Eric Schmitt, R-Missouri, said he thought it was “totally ridiculous” that Gabbard was being cast as a Russian asset for having different political views. “It’s insulting. It’s a slur, quite frankly. There’s no evidence that she’s a asset of another country,” he said on NBC. Sen. James Lankford, another Oklahoma Republican, acknowledged having “lots of questions” for Gabbard as the Senate considers her nomination to lead the intelligence services. Lankford said on NBC that he wants to ask Gabbard about her meeting with Assad and some of her past comments about Russia. “We want to know what the purpose was and what the direction for that was. As a member of Congress, we want to get a chance to talk about past comments that she’s made and get them into full context,” Lankford said.
Justice Dept. is abandoning its classified documents case against Trump after similar move in election interference case
Xavier aims to rebound from a tough week and get one more critical tune-up for a rivalry matchup when it hosts Morgan State on Tuesday night in Cincinnati. The Musketeers (7-2) were ranked No. 22 in the AP poll two weeks ago but fell out after a 25-point loss to Michigan in the Fort Myers Tip-Off tournament final on Nov. 27. Xavier then barely escaped with a 71-68 home win over South Carolina State on Dec. 1 before losing 76-72 at TCU on Thursday. Dante Maddox Jr. came off the bench to score nine points in 20 minutes on three 3-pointers against the Horned Frogs. He also grabbed six rebounds before fouling out. The Musketeers have been waiting for the Toledo transfer to add a punch to an underwhelming bench cast that many thought would be a strength for Xavier coming into the season. "I really feel like you can almost be baited into a false sense of how deep your team is because you're around guys every day and have a good, older group, which we do," Musketeers coach Sean Miller said. "You see the good in a lot of different guys. It's not until you get 8 to 10, 10 to 15 games in when you truly understand how deep your team is." Maddox hit a 3-pointer and started a fastbreak with a steal that gave Xavier a 60-54 lead with 7:28 remaining, but the Musketeers faded down the stretch and lost for the second time in three games. Maddox is averaging 4.7 points per game, while Ryan Conwell leads the team with 16.6. Tuesday's game will be the last chance for Xavier to straighten up before visiting No. 22 Cincinnati on Saturday for the teams' annual intense crosstown showdown. Morgan State (5-7) is coming off a 102-81 road loss at Bowling Green on Saturday. Preseason All-MEAC First Team selection Will Thomas led the Bears with 19 points on 8-of-15 shooting from the field, while Kameron Hobbs scored 12 points off the bench. Amahrie Simpkins made all five of his field-goal attempts to add 11 points and Wynston Tabbs had 10 points, six rebounds and six assists. Tabbs leads Morgan State in scoring this season at 16.8 points per game, while Simpkins (12.8) and Thomas (12.2) round out the Bears' double-digit scorers. The Bears have struggled away from home, losing all five road contests this season. --Field Level MediaMIAMI GARDENS, Fla. — Sunday’s loss to the Dolphins clinched a third-straight losing season for the once-powerful Patriots. The Patriots fell to 3-9 on the season in a game defined by a second-quarter scoring surge by a Dolphins’ offense that put up 24 points in 15 minutes of play. “I thought we gave up too many big plays defensively,” head coach Jerod Mayo said. “Did a better job in the run game. Gave up too many big plays tackling, scheme, whatever you want to call it. Just overall execution defensively just wasn’t good enough.” Mayo blamed the coverage breakdowns that led to Dolphins quarterback Tua Tagovailoa going 29-of-40 for 317 yards with four touchdowns and no turnovers on “a lack of communication.” “It wasn’t a secret. They used motion and shifts and things like that to stress the communication,” Mayo said. “And we just weren’t on the same page.” Patriots safety Kyle Dugger struggled in Sunday’s loss. He was in the middle of the defense that lost track of running back Devon Achane on two touchdowns in the first half and tight end Jonnu Smith on a third. Cornerback Jonathan Jones, who won two Super Bowls and appeared in a third with the Patriots doesn’t believe players are fully focused. “I think it’s guys locking in, a lack of focus at this point,” Jones said. “Because it’s nothing that we don’t go through during the week that comes up on Sunday, so it just kind of comes out to just locking in and being prepared.” Dugger agreed, saying, “I wouldn’t really put it on other guys. As a unit, we weren’t focused all the way. There was definitely truth to that.” Defensive tackle Davon Godchaux responded to Jones’ comment by saying, “We can’t have that, though. I’m with Jonathan. Jonathan’s a veteran. I have all the respect for him. And we just can’t have it.” The secondary allowed wide receiver Jaylen Waddle go off for eight catches on nine targets for 144 yards with a touchdown and Smith to catch nine passes for 87 yards with a touchdown. Cornerback Christian Gonzalez helped limit Tyreek Hill to five catches on six targets for 48 yards. No one would blame the communication breakdowns on the Patriots’ coaching staff. Even Mayo said, “once those guys cross the white lines, there’s nothing I can do for them. There’s nothing any coach can do for them once they cross the white line.” “It’s my job to continue to prepare not only them but our coaches to go out there and play better football.” Added Jones: “I couldn’t blame it on coaching at all. I think at some point we just have to execute and lock in. Whatever’s called, lock in and execute.” Coaches may be preparing players for the situations they’re going to face, but it’s also their responsibility to dress players who are fully committed and to make sure they’re locked in for a game. If players aren’t fully focused now, then things could get even uglier with nothing to play for late in the season. The Patriots clearly won’t be making a playoff run, and many players on this team won’t be building blocks in the future if the team can rebuild under head coach Jerod Mayo. Jones has a message for players potentially packing it in. “Look in the mirror and see what you want this season to be for yourself,” Jones said. “It doesn’t stop here. Hopefully, guys want to further their career and how you handle adversity, how you handle these next few weeks is going to say a lot about you as a player, a lot about you as a person and who you want on your team when things aren’t going right.” Defensive tackle Daniel Ekuale believes players have to play for pride. “We can’t go out like this. At the end of the day, we just gotta keep on coming in and building, keep fighting every week to give us the best chance to win,” he said. Mayo, Ekuale and defensive tackle Davon Godchaux all were happy with the way the Patriots stopped the run on defense. The Dolphins ran the ball 24 times for just 65 yards. Achane scored two touchdowns as a receiver but carried the ball just 10 times for 32 yards. The Dolphins’ speedy running backs had just one carry over 10 yards. “Run defense, we did a pretty good job just had some struggles in the back end,” Godchaux said of his secondary. “We’ll look at the film, but we knew coming in today that we were going to stop the run. We knew we were going to have to make them one dimensional and pass the ball, which we did. It still didn’t really work out for us. ... “Same old story. Coming to Miami, losing. Tua’s 7-0 against us someone was telling me. Gotta give credit to them. We didn’t play a good football game. I thought the second-half defense played a lot better. Second quarter, we gave up 24 points. I don’t even know what was going on. I know the back end had some miscommunication going on, but we’ll take a look at it. It’s pretty frustrating. Coming in, just put it aside for me, playing here years ago, but it’s just really embarrassing.” The Patriots are 1-3 in divisional games now. Their final two in-division games come against the first-place Bills in Weeks 16 and 18.
Pacific Specialist Healthcare (PSH) Hospitals will partner with Sugar Cane Growers Fund (SCGF) to provide healthcare access to over 10,500 sugarcane farmers at a reduced rate promoting access to quality and efficient healthcare services. This followed initial talks between PSH Group of Hospitals’ founder and chief executive officer, Parvish Kumar, and SCGF chairperson Ahmed Bhamji and Fund CEO Raj Sharma over the weekend. Mr Bhamji and Mr Sharma toured PSH’s Nadi hospital and were impressed with the latest technology available for medical treatment and cleanliness of the entire hospital. Mr Bhamji said during the SCGF Loyalty Programme launch that the Fund had brought about many policy flexibilities for the growers’ needs and introduced attractive packages. “We continuously looked at the best ways to sustain the Fund and as such when I joined the board early this year, we looked at the risk and return of the Fund,” Mr Bhamji said. “We considered that the industry has over 10,500 productive growers that have economies of scale and buying powers collectively.” He said sugarcane farmers should have the ability to get the best offers and this programme would reward the productive sugarcane growers of Fiji. Meanwhile, Mr Sharma said the programme would enhance the livelihood of the sugarcane farmers. “By partnering with PSH, the farmers and the Fund are honoured to have Mr Kumar and his hospital onboard and to be part of this programme. The Fund met with Mr Kumar to discuss how we can advance this healthcare initiative for cane farmers across Fiji.” Mr Sharma said the assistance including healthcare access would be made available in Labasa for cane farmers there. “Discussions were also centred on how Mr Kumar and his team would assist in an outreach programme to cane farmers on wellness and healthcare aligned along the United Nations (UN) Sustainable Development Goals in respect to healthcare. Mr Kumar said he was honoured to look after the farming community of Fiji. “The sugarcane industry at one time was the backbone of the country and is still a major part of Fiji’s economy and we are happy to support this community as we also work towards supporting other communities through discussion.” Mr Kumar, who comes from a sugarcane farming background, said he is well aware of the difficulties farmers face in accessing major healthcare. “That is the reason why I had no hesitation in joining the Fund in this loyalty programme as sugarcane farmers will now be able to get faster and cost-effective medical services at my hospitals,” Mr Kumar said. Feedback: charles.chambers@fijisun.com.fj
Residents have been urged to “leave immediately” amid an out of control bushfire in Victoria’s southwest. Victoria Emergency issued the warning just after 2am on Thursday for those in Big Cord, Grampians, Mirranatwa and Jimmy Creek. The alert stated a bushfire at Grampians National Park on Yarram Gap Road is not under control. The fire is crossing Henham Track near the Victoria Valley Road while a private property in the Mirrantwa has been impacted. Grampians Road has been closed from Silverband Road to the southern Victoria Valley Road intersection, while Victoria Valley Road has been closed at the Victoria Point Intersection. Yarram Gap Road has also been closed from Grampians Road to Moyston-Dunkeld Road. Residents have been urged to leave now. “Leaving immediately is the safest option, before conditions become too dangerous,” the alert stated. “Emergency services may not be able to help you if you decide to stay.” People have been encouraged to leave via Victoria Valley Road towards Dunkeld, where a relief centre has been opened at 14 Sterling Place. “If in attendance and require assistance from the Southern Grampians Shire please phone the number provided on site. Victoria Police can also be contacted via the Hamilton Police 24 hour number posted onsite,” the Victoria Emergency alert stated. The alert also reminded people to ensure they take pets, medications, phones and chargers with them. Those unable to leave have been urged to stay inside and close all doors, windows, vents, and turn off cooling systems. “You must take shelter before the fire arrives. The extreme heat is likely to kill you well before the flames reach you,” the alert stated. “Shelter in a room that has two exits, such as a door or window including one directly to the outside. It is important to be able to see outside so you know what is happening with the fire. “If your home catches on fire and the conditions inside become unbearable, you need to get out and go to an area that has already been burnt.” Victoria Emergency recommended sheltering in the middle of a large open area such as a ploughed paddock, football oval or sporting reserve for those unable to get inside. Entering a large body of water, including a dam, lake, river, the ocean or in-ground pool are other options.
Sneaking a little ahead of line to get on that plane faster? American Airlines might stop you. In an apparent effort to reduce the headaches caused by airport line cutting, American has rolled out boarding technology that alerts gate agents with an audible sound if a passenger tries to scan a ticket ahead of their assigned group. This new software won’t accept a boarding pass before the group it’s assigned to is called, so customers who get to the gate prematurely will be asked to go back and wait their turn. As of Wednesday, the airline announced, the technology is now being used in more than 100 U.S. airports that American flies out of. The official expansion arrives after successful tests in three of these locations — Albuquerque International Sunport, Ronald Reagan Washington National Airport and Tucson International Airport. The initial response from customers and American employees “has exceeded our expectations,” Julie Rath, American’s senior vice president of airport operations, reservations and service recovery, said in a statement. She added that the airline is “thrilled” to have the technology up and running ahead of the Thanksgiving holiday. American got lots of attention when it unveiled its gate-control testing last month. Analysts say that isn’t surprising. It’s no secret that line cutting in airports hits a nerve. Whether intentional or not, just about every air traveler has witnessed it, noted Henry Harteveldt, an airline industry analyst with Atmosphere Research Group. It can add to frustrations in what can already be a tense environment, with particular anxiety around passengers wanting to sit together or rushing for some overhead bin space. Harteveldt doesn’t see American’s recent move as “shaming” customers who cut the line. “What it is intended to do is bring order out of chaos,” he said. “And I hope it will defuse any potential flare ups of anger (from) people who simply think they’re entitled to board out of turn .... It’s just not fair.” Harteveldt added that he thinks this change will enhance the experiences of both customers and gate agents. Others say more time will tell. Seth Miller, editor and founder of air travel experience analysis site PaxEx.aero, said he can see the benefits of more orderly and universal gate-control enforcement, particularly for airlines. But he said he isn’t “100% convinced this is perfect for passengers” just yet. Families, for example, might be booked on several different reservations across more than one group, he said. Airlines typically have workarounds for that, and American noted Wednesday that customers traveling with a companion in an earlier group can simply have a gate agent “override the alert” to continue boarding. Still, Miller said, “you have to go through the extra hoops.” And a difficult customer still might choose to hold up the line and argue when they’re not allowed to board, he added. Another question is whether customers who encounter a beep will walk away feeling embarrassed. But Harteveldt said he was happy to learn that American’s alert is “not a bellowing sound that can be heard throughout the terminal,” or accompanied by your name read over a loudspeaker, noting that this is important to avoid feelings of shame. Expanding this technology just a week before peak Thanksgiving travel could be “both good and bad,” Harteveldt adds. On one hand, the tech could help significantly improve the boarding process during such a busy time, he said, but airport employees might also have appreciated more time to prepare. Both Miller and Harteveldt said they wouldn’t be surprised if other carriers soon follow American’s lead. Headaches over airport line cutting are far from new. While maybe not to the extent of American’s new tech, Miller noted he’s seen gate agents from other airlines ask people to leave a line and wait for their group. Harteveldt added that he’s been to some airports in Asia and Europe with “sliding doors” that ensure passengers are in the right group before boarding a plane. The more than 100 airports that American is now using its gate-control technology in are all spoke, or non-hub, locations — including Austin-Bergstrom International Airport and Hartsfield-Jackson Atlanta International Airport. The airline says it expects to further expand to its hubs and other airports in the coming months. Get Latest News Live on Times Now along with Breaking News and Top Headlines from US News, World and around the world.Maryland sues maker of Gore-Tex over pollution from toxic 'forever chemicals'MONROE TOWNSHIP, N.J., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT) , a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that as part of the Company's ongoing commitment to connecting with the investor community, it will participate in a fireside chat on Thursday, December 19, 2024, at 11:00 a.m. ET. Dr. Philipp Stratmann, President and Chief Executive Officer for OPT, will discuss the Company's recent performance and revenue growth, cost savings and expenditure reductions implemented over the past several quarters, and ongoing innovation in integrating payloads and systems that enable the Company to offer an AI-capable solution. The discussion will also cover OPT's overseas expansion into the Middle East and Latin America, as well as the Company's dual-use technology for U.S. defense and security markets. Please note there will be no question-and-answer session. Register for this listen-only event here: Link to Register for OPT Fireside Chat A replay of the presentation will be available under "Events and Presentations" in the Investors section of the OPT website at investors.oceanpowertechnologies.com . ABOUT OCEAN POWER TECHNOLOGIES OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets, including Merrows, which provides AI capable seamless integration of Maritime Domain Awareness Systems across platforms. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics services through our wholly owned subsidiary Marine Advanced Robotics. We are headquartered in Monroe Township, New Jersey, and have offices in Houston, Texas, and Richmond, California. To learn more, visit www.OceanPowerTechnologies.com. CONTACT: CONTACT INFORMATION Investors: 609-730-0400 x401 or [email protected] Media: 609-730-0400 x402 or [email protected]
Some elite US universities favor wealthy students in admissions decisions, lawsuit alleges
THE M3 Bulldogs have paid their K500 fine and will take part in the NCD Governor’s Cup set to be launched today at the Sir Hubert Murray Stadium. NCD Governor’s Cup director Billy Aki said the Bulldogs have paid their dues and will be included in the draw. “They are one of the original teams to participate in the NCD Governor’s Cup and despite being penalised for their wrong doings last year, they have humbled themselves by apologising and showing remorse for their actions. “They finished as runners-up in their return after several years out, so I guess they have some unfinished business. “This is all good for the competitive nature of the challenge and may this be a warning to all participating teams to respect the laws of the game, the referees, match officials and those running the lines. “We are clamping down on violence in the game and this competition does not need you. “So, change your mindsets, encourage your supporters to behave so we all can enjoy the rugby for the festive period in the Nation’s Capital. “Teams that are deemed to inciting trouble will be penalised and even banned from taking part in future NCD Governor’s Cup tournaments,” Aki said. Aki said this message is also for the teams taking part for the first time in the soccer as well. M3 Bulldogs captain Joshua Tepi said they want to play and despite struggling to raise the money, they managed to pull through to register. “We know we were wrong and our supporters are to be blamed for this incident, but we accept and we will ensure our supporters are reminded of what will happen if they get out of line,” added Tepi. The M3 Bulldogs squad: Elizah Frank, Taka Boti, Daniel Maima, Dawson Kepe, Patrick Mandi, Freddy Novea, Ezekiel Mandi, Jason Kusanaik, Joshua Tepi (C ), Nathan Yawa, Bob Nale, Gabby Mora, Jereny Langi, Biri Mainde, Tayla Mathias, Jordan Thomas, Bradley Nelson, Tava Tambena, Jonathan Pengal, Philemon Pole, Elizah Tande, Freddy Pepan, Stanward lapa, Douglas Tandaka and Shadrick Seni. Coach Joshua Kulusi, team manager Shedrick Angopa, Club president Mathias Mandi and patron Lawrence Tua.Maryland is suing the company that produces the waterproof material Gore-Tex often used for raincoats and other outdoor gear, alleging its leaders kept using “forever chemicals” long after learning about serious health risks associated with them. The complaint, which was filed last week in federal court, focuses on a cluster of 13 facilities in northeastern Maryland operated by Delaware-based W.L. Gore & Associates. It alleges the company polluted the air and water around its facilities with per- and polyfluoroalkyl substances , jeopardizing the health of surrounding communities while raking in profits. The lawsuit adds to other claims filed in recent years, including a class action on behalf of Cecil County residents in 2023 demanding Gore foot the bill for water filtration systems, medical bills and other damages associated with decades of harmful pollution in the largely rural community. “PFAS are linked to cancer, weakened immune systems, and can even harm the ability to bear children,” Maryland Attorney General Anthony Brown said in a statement. “It is unacceptable for any company to knowingly contaminate our drinking water with these toxins, putting Marylanders at risk of severe health conditions.” Gore spokesperson Donna Leinwand Leger said the company is “surprised by the Maryland Attorney General’s decision to initiate legal action, particularly in light of our proactive and intensive engagement with state regulators over the past two years.” “We have been working with Maryland, employing the most current, reliable science and technology to assess the potential impact of our operations and guide our ongoing, collaborative efforts to protect the environment,” the company said in a statement, noting a Dec. 18 report that contains nearly two years of groundwater testing results. But attorney Philip Federico, who represents plaintiffs in the class action and other lawsuits against Gore, called the company’s efforts “too little, much too late.” In the meantime, he said, residents are continuing to suffer — one of his clients was recently diagnosed with kidney cancer. “It’s typical corporate environmental contamination,” he said. “They’re in no hurry to fix the problem.” The synthetic chemicals are especially harmful because they’re nearly indestructible and can build up in various environments, including the human body. In addition to cancers and immune system problems, exposure to certain levels of PFAS has been linked to increased cholesterol levels, reproductive health issues and developmental delays in children, according to the Environmental Protection Agency. Gore leaders failed to warn people living near its Maryland facilities about the potential impacts, hoping to protect their corporate image and avoid liability, according to the state’s lawsuit. The result has been “a toxic legacy for generations to come,” the lawsuit alleges. Since the chemicals are already in the local environment, protecting residents now often means installing complex and expensive water filtration systems. People with private wells have found highly elevated levels of dangerous chemicals in their water, according to the class action lawsuit. The Maryland facilities are located in a rural area just across the border from Delaware, where Gore has become a longtime fixture in the community. The company, which today employs more than 13,000 people, was founded in 1958 after Wilbert Gore left the chemical giant DuPont to start his own business. Its profile rose with the development of Gore-Tex , a lightweight waterproof material created by stretching polytetrafluoroethylene, which is better known by the brand name Teflon that’s used to coat nonstick pans. The membrane within Gore-Tex fabric has billions of pores that are smaller than water droplets, making it especially effective for outdoor gear. The state’s complaint traces Gore’s longstanding relationship with DuPont , arguing that information about the chemicals' dangers was long known within both companies as they sought to keep things quiet and boost profits. It alleges that as early as 1961, DuPont scientists knew the chemical caused adverse liver reactions in rats and dogs. DuPont has faced widespread litigation in recent years. Along with two spinoff companies, it announced a $1.18 billion deal last year to resolve complaints of polluting many U.S. drinking water systems with forever chemicals. The Maryland lawsuit seeks to hold Gore responsible for costs associated with the state’s ongoing investigations and cleanup efforts, among other damages. State oversight has ramped up following litigation from residents alleging their drinking water was contaminated. Until then, the company operated in Cecil County with little scrutiny. Gore announced in 2014 that it had eliminated perfluorooctanoic acid from the raw materials used to create Gore-Tex. But it’s still causing long-term impacts because it persists for so long in the environment, attorneys say. Over the past two years, Gore has hired an environmental consulting firm to conduct testing in the area and provided bottled water and water filtration systems to residents near certain Maryland facilities, according to a webpage describing its efforts. Recent testing of drinking water at residences near certain Gore sites revealed perfluorooctanoic acid levels well above what the EPA considers safe, according to state officials. Attorneys for the state acknowledged Gore’s ongoing efforts to investigate and address the problem but said the company needs to step up and be a better neighbor. “While we appreciate Gore’s limited investigation to ascertain the extent of PFAS contamination around its facilities, much more needs to be done to protect the community and the health of residents,” Maryland Department of the Environment Secretary Serena McIlwain said in a statement. “We must remove these forever chemicals from our natural resources urgently, and we expect responsible parties to pay for this remediation.”
An online debate over foreign workers in tech shows tensions in Trump’s political coalition
Iran on the brink as infighting explodes over ally Syria's collapseChildren of the wealthy and connected get special admissions consideration at some elite U.S. universities, according to new filings in a class-action lawsuit originally brought against 17 schools. Georgetown’s then-president, for example, listed a prospective student on his “president’s list” after meeting her and her wealthy father at an Idaho conference known as “summer camp for billionaires,” according to Tuesday court filings in the price-fixing lawsuit filed in Chicago federal court in 2022. Although it’s always been assumed that such favoritism exists, the filings offer a rare peek at the often secret deliberations of university heads and admissions officials. They show how schools admit otherwise unqualified wealthy children because their parents have connections and could possibly donate large sums down the line, raising questions about fairness. Stuart Schmill, the dean of admissions at the Massachusetts Institute of Technology, wrote in a 2018 email that the university admitted four out of six applicants recommended by then-board chairman Robert Millard, including two who “we would really not have otherwise admitted.” The two others were not admitted because they were “not in the ball park, or the push from him was not as strong.” In the email, Schmill said Millard was careful to play down his influence on admissions decisions, but he said the chair also sent notes on all six students and later met with Schmill to share insight “into who he thought was more of a priority.” The filings are the latest salvo in a lawsuit that claims that 17 of the nation’s most prestigious colleges colluded to reduce the competition for prospective students and drive down the amount of financial aid they would offer, all while giving special preference to the children of wealthy donors. “That illegal collusion resulted in the defendants providing far less aid to students than would have been provided in a free market,” said Robert Gilbert, an attorney for the plaintiffs. Since the lawsuit was filed, 10 of the schools have reached settlements to pay out a total of $284 million, including payments of up to $2,000 to current or former students whose financial aid might have been shortchanged over a period of more than two decades. They are Brown, the University of Chicago, Columbia, Dartmouth, Duke, Emory, Northwestern, Rice, Vanderbilt and Yale. Johns Hopkins is working on a settlement and the six schools still fighting the lawsuit are the California Institute of Technology, Cornell, Georgetown, MIT, Notre Dame and the University of Pennsylvania. MIT called the lawsuit and the claims about admissions favoritism baseless. “MIT has no history of wealth favoritism in its admissions; quite the opposite,” university spokesperson Kimberly Allen said. “After years of discovery in which millions of documents were produced that provide an overwhelming record of independence in our admissions process, plaintiffs could cite just a single instance in which the recommendation of a board member helped sway the decisions for two undergraduate applicants." In a statement, Penn also said the case is meritless that the evidence shows that it doesn't favor students whose families have donated or pledged money to the Ivy League school. “Plaintiffs’ whole case is an attempt to embarrass the University about its purported admission practices on issues totally unrelated to this case," the school said. Notre Dame officials also called the case baseless. “We are confident that every student admitted to Notre Dame is fully qualified and ready to succeed,” a university spokesperson said in a statement. The South Bend, Indiana, school, though, did apparently admit wealthy students with subpar academic backgrounds. According to the new court filings, Don Bishop, who was then associate vice president for enrollment at Notre Dame, bluntly wrote about the “special interest” admits in a 2012 email, saying that year's crop had poorer academic records than the previous year's. The 2012 group included 38 applicants who were given a “very low” academic rating, Bishop wrote. He said those students represented “massive allowances to the power of the family connections and funding history,” adding that “we allowed their high gifting or potential gifting to influence our choices more this year than last year.” The final line of his email: “Sure hope the wealthy next year raise a few more smart kids!” Some of the examples pointed to in this week's court filings showed that just being able to pay full tuition would give students an advantage. During a deposition, a former Vanderbilt admissions director said that in some cases, a student would get an edge on the waitlist if they didn’t need financial aid. The 17 schools were part of a decades-old group that got permission from Congress to come up with a shared approach to awarding financial aid. Such an arrangement might otherwise violate antitrust laws, but Congress allowed it as long as the colleges all had need-blind admissions policies, meaning they wouldn't consider a student’s financial situation when deciding who gets in. The lawsuit argues that many colleges claimed to be need-blind but routinely favored the children of alumni and donors. In doing so, the suit says, the colleges violated the Congressional exemption and tainted the entire organization. The group dissolved in recent years when the provision allowing the collaboration expired. The Associated Press’ education coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org .
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Washington, Dec 19 (AP) Children of the wealthy and connected get special admissions consideration at some elite US universities, according to new filings in a class-action lawsuit originally brought against 17 schools. Georgetown's then-president, for example, listed a prospective student on his "president's list" after meeting her and her wealthy father at an Idaho conference known as "summer camp for billionaires", according to Tuesday court filings in the price-fixing lawsuit filed in Chicago federal court in 2022. Although it has always been assumed that such favouritism exists, the filings offer a rare peek at the often secret deliberations of university heads and admissions officials. They show how schools admit otherwise unqualified wealthy children because their parents have connections and could possibly donate large sums down the line, raising questions about fairness. Stuart Schmill, the dean of admissions at the Massachusetts Institute of Technology, wrote in a 2018 email that the university admitted four out of six applicants recommended by then-board chairman Robert Millard, including two who "we would really not have otherwise admitted". The two others were not admitted because they were "not in the ball park, or the push from him was not as strong". In the email, Schmill said Millard was careful to play down his influence on admissions decisions, but he said the chair also sent notes on all six students and later met with Schmill to share insight "into who he thought was more of a priority". The filings are the latest salvo in a lawsuit that claims that 17 of the nation's most prestigious colleges colluded to reduce the competition for prospective students and drive down the amount of financial aid they would offer, all while giving special preference to the children of wealthy donors. "That illegal collusion resulted in the defendants providing far less aid to students than would have been provided in a free market," said Robert Gilbert, an attorney for the plaintiffs. Since the lawsuit was filed, 10 of the schools have reached settlements to pay out a total of USD 284 million, including payments of up to USD 2,000 to current or former students whose financial aid might have been shortchanged over a period of more than two decades. They are Brown, the University of Chicago, Columbia, Dartmouth, Duke, Emory, Northwestern, Rice, Vanderbilt and Yale. Johns Hopkins is working on a settlement and the six schools still fighting the lawsuit are the California Institute of Technology, Cornell, Georgetown, MIT, Notre Dame and the University of Pennsylvania. MIT called the lawsuit and the claims about admissions favouritism baseless. "MIT has no history of wealth favouritism in its admissions; quite the opposite," university spokesperson Kimberly Allen said. "After years of discovery in which millions of documents were produced that provide an overwhelming record of independence in our admissions process, plaintiffs could cite just a single instance in which the recommendation of a board member helped sway the decisions for two undergraduate applicants." In a statement, Penn also said the case is meritless that the evidence shows that it does not favour students whose families have donated or pledged money to the Ivy League school. "Plaintiffs' whole case is an attempt to embarrass the university about its purported admission practices on issues totally unrelated to this case," the school said. Notre Dame officials also called the case baseless. "We are confident that every student admitted to Notre Dame is fully qualified and ready to succeed," a university spokesperson said in a statement. The South Bend, Indiana, school, though, did apparently admit wealthy students with subpar academic backgrounds. According to the new court filings, Don Bishop, who was then associate vice president for enrolment at Notre Dame, bluntly wrote about the "special interest" admits in a 2012 email, saying that year's crop had poorer academic records than the previous year's. The 2012 group included 38 applicants who were given a "very low" academic rating, Bishop wrote. He said those students represented "massive allowances to the power of the family connections and funding history", adding that "we allowed their high gifting or potential gifting to influence our choices more this year than last year". The final line of his email: "Sure hope the wealthy next year raise a few more smart kids!" Some of the examples pointed to in this week's court filings showed that just being able to pay full tuition would give students an advantage. During a deposition, a former Vanderbilt admissions director said that in some cases, a student would get an edge on the waitlist if they did not need financial aid. The 17 schools were part of a decades-old group that got permission from Congress to come up with a shared approach to awarding financial aid. Such an arrangement might otherwise violate antitrust laws, but Congress allowed it as long as the colleges all had need-blind admissions policies, meaning they would not consider a student's financial situation when deciding who gets in. The lawsuit argues that many colleges claimed to be need-blind but routinely favoured the children of alumni and donors. In doing so, the suit says, the colleges violated the Congressional exemption and tainted the entire organisation. The group dissolved in recent years when the provision allowing the collaboration expired. (AP) RC (This story has not been edited by THE WEEK and is auto-generated from PTI)2024 Fourth Quarter Highlights– comparisons to the prior year quarter 2024 Fiscal Year Highlights - comparisons to prior year MIAMI , Dec. 18, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B) , one of the nation's largest homebuilders, today reported results for its fourth quarter and fiscal year ended November 30, 2024 . Fourth quarter net earnings attributable to Lennar in 2024 were $1.1 billion , or $4.06 per diluted share, compared to $1.4 billion , or $4.82 per diluted share in the fourth quarter of 2023. Excluding mark-to-market gains on technology investments, fourth quarter net earnings attributable to Lennar in 2024 were $1.1 billion , or $4.03 per diluted share, compared to fourth quarter net earnings attributable to Lennar in 2023 of $1.5 billion , or $5.17 per diluted share, excluding mark-to-market losses on technology investments and other one-time items (collectively, "adjustments"). Net earnings attributable to Lennar for the year ended November 30, 2024 were $3.9 billion , or $14.31 per diluted share, compared to $3.9 billion , or $13.73 per diluted share for the year ended November 30, 2023 . Excluding adjustments, net earnings attributable to Lennar for the year ended November 30, 2024 were $3.8 billion , or $13.86 per diluted share, compared to $4.1 billion , or $14.25 per diluted share for the year ended November 30, 2023 . Stuart Miller , Executive Chairman and Co-Chief Executive Officer of Lennar, said, "In the course of our fourth quarter, the housing market that appeared to be improving as the Fed cut short-term interest rates, proved to be far more challenging as mortgage rates rose almost 100 basis points through the quarter. Even while demand remained strong, and the chronic supply shortage continued to drive the market, our results were driven by affordability limitations from higher interest rates." "Accordingly, in our fourth quarter, sales pace lagged expectations as interest rates climbed and our new orders fell short of expectations to 16,895 homes vs the low end of our guidance of 19,000 homes. Consistent with our strategy of matching sales pace with production, we adjusted sales price, incentives, and margin in order to re-ignite sales and actively manage inventory levels. We ended the quarter with two completed, unsold homes per community, which was within our historical range." "In the fourth quarter, earnings were $1.1 billion , or $4.06 per diluted share. We delivered 22,206 homes in the quarter and our average sales price, net of incentives, per home delivered was $430,000 in the fourth quarter, slightly down from last year. Our homebuilding gross margin in the fourth quarter was 22.1%, with SG&A expenses of 7.2%, resulting in a 14.9% net margin." "Driven by our consistent focus on cash flow, we constructively allocated capital while we continued to strengthen and fortify our balance sheet. During the quarter, we repurchased $521 million of our common stock, had no outstanding borrowings on our $2.9 billion revolving credit facility and cash of $4.7 billion , ending the quarter with homebuilding debt to total capital of 7.5%. With cash on hand exceeding our debt, and with overall liquidity of approximately $7.6 billion , our balance sheet remains extremely strong." "Against this backdrop, we continue to remain focused on our volume-based strategy of driving sales and cash flow while using margin as a shock absorber as we continue to migrate to an asset-light, land-light business model. This strategy is reflected in both the public filing of a registration statement on Form S-11 for the planned spin-off of Millrose Properties, Inc., as well as our previously announced acquisition of Rausch Coleman Homes as we focus on growing to drive affordability and fill the supply gap that is reflected in the marketplace." Jon Jaffe , Co-Chief Executive Officer and President of Lennar, said, "Operationally, our starts pace and sales pace were 4.6 homes and 4.2 homes per community in the fourth quarter, respectively, as we continue to move closer to an even flow operating model. Our cycle time was down to 138 days, or 14% lower year over year, as our production first focus has positively impacted our production times, while our inventory turn improved to 1.6 times reflecting broader efficiencies. Concurrently, the Lennar Marketing and Sales Machine continued to carefully match our sales pace to our production pace using our digital marketing and dynamic pricing models." "During the quarter, we continued the migration to our land light strategy. This was evidenced by our years supply of owned homesites improving to 1.1 years from 1.4 years last year and our controlled homesite percentage increasing to 82% from 76% year over year, resulting in a return on inventory of 29.2%." Mr. Miller concluded, "As we look ahead, we expect to deliver between 17,000 and 17,500 homes for the first quarter of 2025 and between 86,000 and 88,000 homes for the full year 2025, including the impact of the Rausch Coleman acquisition. While we remain optimistic that margins will normalize as affordability normalizes and our cost structure benefits from our volume, we expect our gross margin in the first quarter to be between 19.0% and 19.25%, and at this time, we will not guide to full year gross margin until we have a better sense of market conditions as the year unfolds." RESULTS OF OPERATIONS THREE MONTHS ENDED NOVEMBER 30, 2024 COMPARED TO THREE MONTHS ENDED NOVEMBER 30, 2023 Homebuilding Revenues from home sales decreased 9% in the fourth quarter of 2024 to $9.5 billion from $10.4 billion in the fourth quarter of 2023. Revenues were lower primarily due to a 7% decrease in the number of home deliveries and a 3% decrease in the average sales price of homes delivered. New home deliveries decreased to 22,206 homes in the fourth quarter of 2024 from 23,795 homes in the fourth quarter of 2023. The average sales price of homes delivered was $430,000 in the fourth quarter of 2024, compared to $441,000 in the fourth quarter of 2023. The decrease in average sales price of homes delivered in the fourth quarter of 2024 compared to the same period last year was primarily due to pricing to market through an increased use of incentives and product mix. Gross margins on home sales were $2.1 billion , or 22.1%, in the fourth quarter of 2024, compared to $2.5 billion, or 24.2%, in the fourth quarter of 2023. During the fourth quarter of 2024, gross margins decreased primarily because revenue per square foot decreased while land costs increased year over year, which was partially offset by a decrease in costs per square foot due to lower costs of materials as the Company continued to focus on construction cost savings. Selling, general and administrative expenses were $682 million in the fourth quarter of 2024, compared to $688 million in the fourth quarter of 2023. As a percentage of revenues from home sales, selling, general and administrative expenses increased to 7.2% in the fourth quarter of 2024, from 6.6% in the fourth quarter of 2023, primarily due to less leverage as a result of both lower volume and average sales price. Financial Services Operating earnings for the Financial Services segment were $154 million in the fourth quarter of 2024, compared to $168 million in the fourth quarter of 2023. The decrease in operating earnings was primarily due to lower profit per loan in the Company's mortgage business. Other Ancillary Businesses Operating loss for the Multifamily segment was $0.2 million in the fourth quarter of 2024, compared to operating loss of $12 million in the fourth quarter of 2023. Operating earnings for the Lennar Other segment were $0.5 million in the fourth quarter of 2024, compared to an operating loss of $125 million in the fourth quarter of 2023. The Lennar Other operating earnings for the fourth quarter of 2024 were primarily due to positive mark-to-market adjustments of $13 million on the Company's publicly traded technology investments, which was partially offset by other operating losses. The Lennar Other operating loss for the fourth quarter of 2023 was primarily due to negative mark-to-market adjustments of $36 million on the Company's publicly traded technology investments and a $65 million write-off of one of the Company's non-public technology investments. Tax Rate For the quarters ended November 30, 2024 and 2023, the Company had a tax provision of $358 million and $417 million , which resulted in an overall effective income tax rate of 24.6% and 23.4%, respectively. For both periods, the Company's effective income tax rate included state income tax expense and non-deductible executive compensation, partially offset by tax credits. The increase in the effective tax rate from the prior year for the three months ended November 30, 2024 was primarily due to additional state income tax expense. OTHER TRANSACTIONS Credit Facility In November 2024 , the Company amended and restated the credit agreement governing its unsecured revolving credit facility (the "Credit Facility") to, among other things, increase the lenders' commitments to $2.875 billion until May 2027 when this amount will be reduced to $2.650 billion until final maturity in November 2029 . As of November 30, 2024 , there were no outstanding borrowings under the Credit Facility. Share Repurchases During the fourth quarter of 2024, the Company repurchased 3 million shares of its common stock for $521 million at an average per share price of $173.79 . Liquidity At November 30, 2024, the Company had $4.7 billion of Homebuilding cash and cash equivalents and no outstanding borrowings under its $2.9 billion Credit Facility, thereby providing approximately $7.6 billion of available capacity. Guidance The following are the Company's expected results of its homebuilding and financial services activities: First Quarter 2025 New Orders 17,500 - 18,000 Deliveries 17,000 - 17,500 Average Sales Price $410,000 - $415,000 Gross Margin % on Home Sales 19.0% - 19.25% S,G&A as a % of Home Sales 8.7% - 8.8% Financial Services Operating Earnings $100 million - $110 million About Lennar Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States . Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LEN X drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com . Note Regarding Forward-Looking Statements: Some of the statements in this press release are "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the homebuilding market and other markets in which we participate, as well as our expected results and guidance. You can identify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties inherent in our business that could cause actual results and events to differ materially from those anticipated by the forward-looking statements. We wish to caution readers not to place undue reliance on any forward-looking statements, which are expressly qualified in their entirety by this cautionary statement and speak only as of the date made. Important factors that could cause differences between anticipated and actual results include slowdowns in real estate markets in regions where we have significant Homebuilding or Multifamily development activities; decreased demand for our homes, or for Multifamily rental apartments or single family homes; the potential impact of inflation; the impact of increased cost of mortgage financing for homebuyers, increased or continued high interest rates or increased competition in the mortgage industry; supply shortages and increased costs related to construction materials, including lumber, and labor; the possibility that increased tariffs will increase the cost of production materials; cost increases related to real estate taxes and insurance; the effect of increased interest rates with regard to our funds' borrowings on the willingness of the funds to invest in new projects; reductions in the market value of our investments in public companies; natural disasters or catastrophic events for which our insurance may not provide adequate coverage; our inability to successfully execute our strategies and our planned spin-off on the timelines expected or at all; a decline in the value of the land and home inventories we maintain and resulting possible future writedowns of the carrying value of our real estate assets; the forfeiture of deposits related to land purchase options we decide not to exercise; the effects of public health issues such as a major epidemic or pandemic that could have a negative impact on the economy and on our businesses; possible unfavorable outcomes in legal proceedings; conditions in the capital, credit and financial markets; harm to our business from information technology failures and data security breaches; changes in laws, regulations or the regulatory environment affecting our business; policy changes that may be introduced by the new administration that could affect economic conditions, tax regimes and regulatory frameworks, and the other risks and uncertainties described in our filings from time to time with the Securities and Exchange Commission, including those included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K filed on January 26, 2024 , as amended by our Annual Report on Form 10-K/A filed on April 25, 2024 , and Quarterly Reports on Form 10-Q. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. A conference call to discuss the Company's fourth quarter earnings will be held at 11:00 a.m. Eastern Time on Thursday , December 19, 2024. The call will be broadcast live on the internet and can be accessed through the Company's website at investors.lennar.com . If you are unable to participate in the conference call, the call will be archived at investors.lennar.com for 90 days. A replay of the conference call will also be available later that day by calling 203-369-0176 and entering 5723593 as the confirmation number. LENNAR CORPORATION AND SUBSIDIARIES Selected Revenues and Operating Information (In thousands, except per share amounts) (unaudited) Three Months Ended Years Ended November 30, November 30, 2024 2023 2024 2023 Revenues: Homebuilding $ 9,548,684 10,516,050 33,906,426 32,660,987 Financial Services 304,550 304,693 1,109,263 976,859 Multifamily 88,917 140,824 411,537 573,485 Lennar Other 4,737 6,616 14,226 22,035 Total revenues $ 9,946,888 10,968,183 35,441,452 34,233,366 Homebuilding operating earnings $ 1,495,383 1,912,639 5,342,252 5,527,707 Financial Services operating earnings 154,476 169,130 577,184 509,461 Multifamily operating earnings (loss) (160) (12,155) 42,635 (50,651) Lennar Other operating earnings (loss) 450 (125,414) (47,967) (209,788) Corporate general and administrative expenses (170,011) (136,336) (648,986) (501,338) Charitable foundation contribution (22,206) (23,795) (80,210) (73,087) Earnings before income taxes 1,457,932 1,784,069 5,184,908 5,202,304 Provision for income taxes (358,058) (416,780) (1,217,253) (1,241,013) Net earnings (including net earnings attributable to noncontrolling interests) 1,099,874 1,367,289 3,967,655 3,961,291 Less: Net earnings attributable to noncontrolling interests 3,660 6,002 35,122 22,780 Net earnings attributable to Lennar $ 1,096,214 1,361,287 3,932,533 3,938,511 Basic and diluted average shares outstanding 267,262 279,438 272,019 283,319 Basic and diluted earnings per share $ 4.06 4.82 14.31 13.73 Supplemental information: Interest incurred (1) $ 29,254 41,434 129,310 187,640 EBIT (2): Net earnings attributable to Lennar $ 1,096,214 1,361,287 3,932,533 3,938,511 Provision for income taxes 358,058 416,780 1,217,253 1,241,013 Interest expense included in: Costs of homes sold 39,513 69,859 160,848 240,871 Costs of land sold 29 156 373 1,588 Homebuilding other income, net 4,472 4,525 18,771 15,434 Total interest expense 44,014 74,540 179,992 257,893 EBIT $ 1,498,286 1,852,607 5,329,778 5,437,417 (1) Amount represents interest incurred related to Homebuilding debt. (2) EBIT is a non-GAAP financial measure defined as earnings before interest and taxes. This financial measure has been presented because the Company finds it important and useful in evaluating its performance and believes that it helps readers of the Company's financial statements compare its operations with those of its competitors. Although management finds EBIT to be an important measure in conducting and evaluating the Company's operations, this measure has limitations as an analytical tool as it is not reflective of the actual profitability generated by the Company during the period. Management compensates for the limitations of using EBIT by using this non-GAAP measure only to supplement the Company's GAAP results. Due to the limitations discussed, EBIT should not be viewed in isolation, as it is not a substitute for GAAP measures. LENNAR CORPORATION AND SUBSIDIARIES Segment Information (In thousands) (unaudited) Three Months Ended Years Ended November 30, November 30, 2024 2023 2024 2023 Homebuilding revenues: Sales of homes $ 9,500,991 10,442,850 33,778,149 32,459,129 Sales of land 39,568 63,501 93,384 109,963 Other homebuilding 8,125 9,699 34,893 91,895 Total revenues 9,548,684 10,516,050 33,906,426 32,660,987 Homebuilding costs and expenses: Costs of homes sold 7,400,266 7,919,724 26,255,353 24,900,470 Costs of land sold 30,162 39,413 73,802 92,142 Selling, general and administrative 682,003 687,774 2,480,309 2,231,033 Total costs and expenses 8,112,431 8,646,911 28,809,464 27,223,645 Homebuilding net margins 1,436,253 1,869,139 5,096,962 5,437,342 Homebuilding equity in earnings (loss) from unconsolidated entities 12,410 9,223 66,448 (3,886) Homebuilding other income, net 46,720 34,277 178,842 94,251 Homebuilding operating earnings $ 1,495,383 1,912,639 5,342,252 5,527,707 Financial Services revenues $ 304,550 304,693 1,109,263 976,859 Financial Services costs and expenses 150,074 135,563 532,079GenCost: Building nuclear reactors would take up to six-times longer than renewables firmed by storage technologies
BAKU, Azerbaijan—United Nations climate talks adopted a deal to inject at least $300 billion annually in humanity’s fight against climate change, aimed at helping developing nations cope with the ravages of global warming in tense negotiations. The $300 billion will go to developing countries that need the cash to wean themselves off the coal, oil and gas that causes the globe to overheat, adapt to future warming and pay for the damage caused by climate change’s extreme weather. It’s not near the full amount of $1.3 trillion that developing countries were asking for, but it’s three times a deal of $100 billion a year from 2009 that is expiring. Some delegations said this deal is headed in the right direction, with hopes that more money flows in the future. But it was not quite the agreement by consensus that these meetings usually operate with and some developing nations were livid about being ignored. COP29 President Mukhtar Babayev gaveled the deal into acceptance before any nation had a chance to speak. When they did they blasted him for being unfair to them, the deal for not being enough and the world’s rich nations for being too stingy. “It’s a paltry sum,” India negotiator Chandni Raina said, repeatedly saying how India objected to rousing cheers. “I’m sorry to say we cannot accept it.” She told The Associated Press that she has lost faith in the United Nations system. Nations express their discontent A long line of nations agreed with India and piled on, with Nigeria’s Nkiruka Maduekwe, CEO of the National Council on Climate Change, calling the deal an insult and a joke. “I’m disappointed. It’s definitely below the benchmark that we have been fighting for for so long,” said Juan Carlos Monterrey, of the Panama delegation. He noted that a few changes, including the inclusion of the words “at least” before the number $300 billion and an opportunity for revision by 2030, helped push them to the finish line. “Our heart goes out to all those nations that feel like they were walked over,” he said. The final package pushed through “does not speak or reflect or inspire confidence,” India’s Raina said. “We absolutely object to the unfair means followed for adoption,” Raina said. “We are extremely hurt by this action by the president and the secretariat.” Speaking for nearly 50 of the poorest nations of the world, Evans Davie Njewa of Malawi was more mild, expressing what he called reservations with the deal. And the Alliance of Small Island States’ Cedric Schuster said he had more hope “that the process would protect the interests of the most vulnerable” but nevertheless expressed tempered support for the deal. U.N. Secretary-General Antonio Guterres said in a post on X that he hoped for a “more ambitious outcome.” But he said the agreement “provides a base on which to build.” After tough talks, some feel relief There were somewhat satisfied parties, with European Union’s Wopke Hoekstra calling it a new era of climate funding, working hard to help the most vulnerable. But activists in the plenary hall could be heard coughing over Hoekstra’s speech in an attempt to disrupt it. Eamon Ryan, Ireland’s environment minister, called the agreement “a huge relief.” “It was not certain. This was tough,” he said. “Because it’s a time of division, of war, of (a) multilateral system having real difficulties, the fact that we could get it through in these difficult circumstances is really important.” U.N. Climate Change’s Executive Secretary Simon Stiell called the deal an “insurance policy for humanity,” adding that like insurance, “it only works if the premiums are paid in full, and on time.” The deal is seen as a step toward helping countries on the receiving end create more ambitious targets to limit or cut emissions of heat-trapping gases that are due early next year. It’s part of the plan to keep cutting pollution with new targets every five years, which the world agreed to at the U.N. talks in Paris in 2015. The Paris agreement set the system of regular ratcheting up climate fighting ambition as away to keep warming under 1.5 degrees Celsius (2.7 degrees Fahrenheit) above pre-industrial levels. The world is already at 1.3 degrees Celsius (2.3 degrees Fahrenheit) and carbon emissions keep rising. Hope that more climate cash will follow Countries also anticipate that this deal will send signals that help drive funding from other sources, like multilateral development banks and private sources. That was always part of the discussion at these talks—rich countries didn’t think it was realistic to only rely on public funding sources—but poor countries worried that if the money came in loans instead of grants, it would send them sliding further backward into debt that they already struggle with. “The $300 billion goal is not enough, but is an important down payment toward a safer, more equitable future,” said World Resources Institute President Ani Dasgupta. “This deal gets us off the starting block. Now the race is on to raise much more climate finance from a range of public and private sources, putting the whole financial system to work behind developing countries’ transitions.” And even though it’s far from the needed $1.3 trillion, it’s more than the $250 billion that was on the table in an earlier draft of the text, which outraged many countries and led to a period of frustration and stalling over the final hours of the summit. Other deals agreed at COP29 The several different texts adopted early Sunday morning included a vague but not specific reference to last year’s Global Stock take approved in Dubai. Last year there was a battle about first-of-its-kind language on getting rid of the oil, coal and natural gas, but instead it called for a transition away from fossil fuels. The latest talks only referred to the Dubai deal, but did not explicitly repeat the call for a transition away from fossil fuels. Countries also agreed on the adoption of Article 6, creating markets to trade carbon pollution rights, an idea that was set up as part of the Paris Agreement to help nations work together to reduce climate-causing pollution. Part of that was a system of carbon credits, allowing nations to put planet-warming gasses in the air if they offset emissions elsewhere. Backers said a U.N.-backed market could generate up to an additional $250 billion a year in climate financial aid. Despite its approval, carbon markets remain a contentious plan because many experts say the new rules adopted don’t prevent misuse, don’t work and give big polluters an excuse to continue spewing emissions. “What they’ve done essentially is undermine the mandate to try to reach 1.5,” said Tamara Gilbertson, climate justice program coordinator with the Indigenous Environmental Network. Greenpeace’s An Lambrechts, called it a “climate scam” with many loopholes. With this deal wrapped up as crews dismantle the temporary venue, many have eyes on next year’s climate talks in Belem, Brazil. (Associated Press journalists Ahmed Hatem, Olivia Zhang, Aleksandar Furtula and Joshua A. Bickel contributed to this report.) Image credits: AP/Rafiq Maqbool