#Daniel Low & Company

[streetsofsalem]

It Happened in Town House Square

I didn’t expect to be posting on Salem for a while as I’m on my way to Maine to escape the Halloween Hordes (haven’t quite broken away yet!) but I’m in midst of writing the last chapter for Salem’s Centuries and I thought posting would help. It’s why I started this blog in the first place, so long ago, to indulge my curiosity about Salem’s lost history and free up my writing from its academic…

[angeltrapz]

saw ur post 4 saw asks n im here to deliver!! (also fully gonna answer the one u sent me i just had a busy night 💚) — hmmm would personally love to hear more abt the Matthews-Faulkner-Stanheight-Blank family dynamic? esp maybe Daniel + Art, but rlly just anything u wanna talk abt there! maybe if they have any sorta family traditions, what holidays look like for them, that sorta deal

shfajs tysm!!!! (also tht's totally okay, take yr time!!!)

also oooo I love this question okay. so like u mentioned this when I asked abt what Eric n Daniel's relationship would b like post-trap, but I think it's very very good fr Daniel 2 like. see tht Eric has ppl who love him n who don't mind helping him when he needs it n who are THERE fr him bc again, like you've mentioned, seeing a parent so utterly shattered th way Eric was after his trap is incredibly difficult, esp for a kid (though Daniel is like. at least seventeen? still). knowing tht his dad has a good support system n is surrounded by ppl tht care abt him helps put him at ease bc he knows he can trust Adam n Art. he knows they'll keep Eric safe n tht they'll help him to heal, tht they love him n want 2 see him do well n get better. plus, Daniel knows tht if he needs to talk 2 some1 abt how difficult seeing his dad like tht is, he knows both Adam n Art r there fr him and tht helps a lot. of course, he also has Rigg + maybe Hoffman (until th whole. u know.), but they don't live w Eric. they don't see him every day th way Art n Adam do. that's not 2 say they don't know Eric is struggling, but there is a difference btwn them n Eric's boyfriends. basically, Daniel is very much grateful fr Art + Adam.

I feel like Art wld be VERY good at lending an ear fr when Daniel needs 2 talk. whether that be abt their trap + tht whole experience, Eric's trap n the consequences/rough aftermath, just plain venting, etc.; Art is there 2 listen to them + offer a solution if they want one. most times I think Daniel just wants to b listened to, esp when it comes to what they went thru in the Nerve Gas House - tht's smth they don't feel comfortable discussing w Eric right away fr obvious reasons, but therapy can only do so much. I think th two of them have more in common than they might realize at first, bc hey, Art Killed A Man Because Trevor Was Going To Kill Him If He Didn't, and Daniel Killed A Man Because Xavier Would Have Killed Both Them And Amanda If They Didn't. I feel like Art is like. very reserved abt th details of his first trap + how they affected him (and th second one tbh; it's not smth he vocalizes often at all), but fr Daniel he wld gladly talk abt it if it meant Daniel didn't feel alone. if it meant it could help them, reassure them that hey, it wasn't yr fault, u did what u had to, n I know tht can be hard 2 believe right now n that's okay. u need to process things at yr own pace.

and so Art tells them abt the Mausoleum, bares a part of himself he keeps locked away where he doesn't often give it much thought/actively ignores it. n I think tht's healing fr him too, maybe. there's solace in tht shared experience, as horrible as it was in th moment. 2 know there's someone out there who has even th faintest inkling of what u went thru + what u had to do to survive. of course Daniel relates 2 Adam fr this reason too, but like. Art will use his Lawyer Voice n make sure Daniel understands tht what they did doesn't make them a bad person or confirm tht Jigsaw Was Right And They Deserved It. n tht's rly important fr Daniel 2 hear, esp early on. it's honestly one of th first times Art is truly honest abt his feelings on th matter + the Mausoleum, n it's just. a step tht much closer to healing for both of them.

family traditions!!! they do have a few! in the summer, every sunday they have Daniel w them, Eric Art n Adam go out fr ice cream, even if they get it at the drive thru n eat it in th car bc none of them want 2 be around all th people/sit outside in th muggy weather. it's a good way to get them all out of th house fr a little while, something enjoyable tht doesn't require too much energy or even interaction. it's just smth nice they can do where they're all together n chilling n just enjoying each other's company!

this is mostly a Daniel one but every year around April Fools he just. puts fucking googly eyes on everything. n every time some1 discovers some, it doesn't matter where in th house he is, u can hear him cackle abt it. Adam thinks it's an absolute delight n has assisted on multiple occasions. tht's abt as far as pranks go fr them, bc none of them like surprises like that, but god is it ever hilarious 2 hear Eric frm the kitchen while Art Adam n Daniel r in the living room when he says "I found another one!" while he's looking fr smth in the fridge kjdkfsf.

holidays!! every Christmas they all sit down in th living room n watch a couple of movies w the blankets spread out on th floor w snacks n hot chocolate. the first Christmas following his trap, Eric was sat on th couch between Adam n Art while Daniel chose to sprawl out on th floor, n he just looked around at his boyfriends n his son n the fake pine tree they had all decorated together n he like. needs to take a moment bc this is it. this is all he cld ever want out of life right here. this is a level of peace Eric never knew he wld ever be able to reach after what he went thru fr those six months. n he just sort of presses his face into Art's shoulder n breathes thru it. he doesn't even have to say anything fr Adam n Art to know what he's thinking bc Adam's hand is on his arm n Art's resting his cheek against th top of his head, n he might cry a little, but he's happy. surrounded by th ppl he loves n who love him, love him enough to keep the lights down low n the volume on th television soft, to use subtitles so he doesn't get overwhelmed, Eric realizes he has a home n it's just. oof.

fr Valentine's Day, this one was actually Adam's idea initially: wht they do is take sticky notes n write little affirmations on thm fr each other, n stick thm in places where they'll see it. sometimes Daniel joins in on this one, but usually it's an Art Eric Adam thing. so like it'll be little things, like a note frm Adam telling Eric how proud he is of him, or one from Art letting Adam know he couldn't have had a better best friend, or th one from Eric that thanks th both of thm fr helping him w his rashes + helping him 2 accept tht part of him n start to see it as nothing to be ashamed of. it starts on th first day of February and ends on Valentine's Day itself, n sometimes they get those packs of cards u get fr kids just to write goofy shit on thm to pass back n forth n make each other laugh. they also get th discounted candy!! (Adam steals all th twix bars tho. tht's okay bc Eric likes snickers anyway n Art is fond of reese's peanut butter cups. they share th sweet tarts + conversation hearts!)

Halloween is when they get a big bowl of candy 2 leave on th porch fr the kids who're trick-or-treating while th three of them stay inside (+Daniel sometimes!) n watch some classics, like their Christmas tradition. they Also add in some bad movies 2 mix it up a lil bit bc sometimes u just need a laugh. I am like in Lov w the idea u had abt Eric n Adam sometimes building cozy pillow forts, so they do tht n the three of them just vibe in there n lay together n look n talk. n like it's So Much Fun 2 have ppl to like. discuss movies w while yr watching them! esp when they're ppl who won't be annoyed w u when u wanna share a thought! like Eric n Adam will get into this deep discussion abt horror movie decisions n Art will just lay there n listen bc he loves them so much n loves hearing them get amped up abt things. he'll offer his own two cents if asked too! mostly he listens, but he can definitely contribute.

inevitably at some point, someone's hand ends up in Eric's hair n he's just. asleep not too long after that. usually on someone's shoulder or against their chest, n depending on who's still awake, they either try 2 move to th bedroom or they just sleep in th living room (i.e.: Art will try to convince Eric n Adam to come to bed properly, whereas Adam will just b like "fuck it" n pass out right there. has this led 2 them waking up sore b4? absolutely. but it's like. "we r adults who live w our decisions n this one happened 2 be sleeping on th floor" so.

n then a minor one is on their birthdays, some1 (usually Art, to be completely honest w u) will cook tht person their favourite comfort food fr dinner n they all help make cake/cupcakes/cookies/something dessert-related of their choice. so like Art rly likes brownies, Adam is fond of strawberry jello poke cake, n Eric can make some RLY good carrot cake cupcakes w homemade frosting too. it's just smth fr them to do together + like! it's celebrating! they've all been thru so much hell but they're still here! n that's rly th focus for the three of them. sometimes they have ppl over too - like Rigg, Gibson, Brit, Mallick, Lawrence, William (all of them best-case, obv); it's nice 2 have a lil party sometimes! after what they've endured they've kind of earned it I think!

thank u sm!!! this was so fun 2 think abt fjdkjsk

(lil random hc: when Daniel was little, Eric used 2 write letters to him frm Santa. eventually Daniel got "too old for that," but honestly? they cherish tht memory. I wanted 2 include it bc it makes me kjehfje!!!)

[truthblockchain]

No Better Time To Be In Blockchain

The Cirus Foundation has named former Apple CEO Gil Amelio as its senior adviser, the company announced Monday.

The blockchain-powered data-ownership project said the veteran technology executive would also serve as chairman of its commercial division, helping Cirus reach an untapped market for its technology.

Cirus’ plug-and-play router gives users control over their data, allowing them to earn cryptocurrency from this information in way that’s similar to Helium’s approach to low-power Wi-Fi systems.

Cirus said in an announcement that it was seeking “a seasoned executive” who understood internet connectivity.

“It signals there is no better time to be in blockchain,” Cirus co-founder and CEO Daniel Bland said in a statement. “We’re more confident than ever that together we will be taking steps in the right direction in terms of building this Ownership Economy.”

https://www.google.com/amp/s/www.coindesk.com/former-apple-ceo-gil-amelio-joins-cirus-blockchain-project-as-adviser%3famp=1

[ericvick]

Microsoft, Apple, Tesla and Facebook in Focus

Monday (January 25)

Tuesday (January 26)

Wednesday (January 27)

Thursday (January 28)

Friday (January 29)

Earnings Calendar For The Week Of January 25

Monday (January 25)

IN THE SPOTLIGHT: KIMBERLY-CLARK

Kimberly-Clark, an American multinational personal care corporation, is expected to report a profit of $1.62 in the fourth quarter of 2020, which represents a year-over-year decline of about 5.2% from the same quarter a year ago when the company reported $1.71 cents per share.

However, Wall Street forecasts the company’s revenue to grow over 3% to $4.7 from the same period year ago. For full-year 2020, revenue is expected to be at $19.1 billion.

“We maintain our Buy-rating and above-consensus EPS estimate into KMB’s 4Q report BMO on Monday. Kimberly Clark’s (KMB) shares have lagged staples as the market remains concerned about moderating POS trends in Dec/Jan and commodities; however, we see an upside to Street 4Q20 and ’21/’22 ests. w/commodity inflation reasonably reflected at current spots and view the bar as low into the print w/KMB trading at 16x P/E (30% discount to HPC peers vs. 20% hist. avg.),” noted Kevin Grundy, equity analyst at Jefferies, who rated the paper products giant “Buy” and set the price target at $152.

Florida-based insurance broker Brown & Brown will post earnings of $0.29 per share for last quarter of 2020.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE JANUARY 25

Ticker

Company

EPS Forecast

CBU

Community Bank System

$0.76

BOH

Bank of Hawaii

$1.11

PHG

Koninklijke Philips

$1.04

KMB

Kimberly Clark

$1.62

WSFS

Wsfs Financial

$0.91

AUY

Yamana Gold USA

$0.11

CR

Crane

$1.10

HXL

Hexcel

-$0.20

BXS

BancorpSouth

$0.62

JJSF

J&J Snack Foods

$0.26

SFBS

ServisFirst Bancshares

$0.81

BRO

Brown & Brown

$0.29

GGG

Graco

$0.51

AGNC

American Capital Agency

$0.65

STLD

Steel Dynamics

$0.76

FUL

HB Fuller

$0.85

ACKAY

Arcelik ADR

$0.61

ASH

Ashland

$0.44

ELS

Equity Lifestyle Properties

$0.33

BKRKY

Bank Rakyat

$0.17

Tuesday (January 26)

Story continues

IN THE SPOTLIGHT: MICROSOFT

MICROSOFT: The global technology giant is expected to report a profit of $1.64 in the fiscal second quarter, which represents year-over-year growth of about 8.6% from the same quarter last year when the company reported $1.51 per share.

The world’s largest software maker’s revenue is forecasts come at $40.23, up from the $36.91 billion reported the same quarter a year earlier.

“Q2 results likely highlight the durability of Microsoft‘s commercial businesses and conservatism in forward consensus expectations. After clearing tough Q2 product cycle comps and lingering COVID-19 impacts, strong secular positioning and an attractive multiple make Microsoft (MSFT) a top stock for the recovery,” said Keith Weiss, equity analyst at Morgan Stanley.

“At 26x CY22e GAAP EPS, MSFT trades at a premium to the S&P, warranted due to MSFT‘s premium return profile. Multiple expansion will likely come from gaining comfort in the durability of commercial business gross profit dollars.”

Johnson & Johnson, one of the world’s largest and most comprehensive manufacturers of healthcare products, will post earnings of $1.83 per share for last quarter of 2020.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE JANUARY 26

Ticker

Company

EPS Forecast

NEE

NextEra Energy

$0.38

NEP

Nextera Energy Partners

$0.37

JNJ

Johnson & Johnson

$1.83

NVS

Novartis

$1.36

RTX

Raytheon Technologies Corp

$0.69

GE

General Electric

$0.09

AXP

American Express

$1.31

LMT

Lockheed Martin

$6.42

MMM

3M

$2.15

PLD

ProLogis

$0.39

FCX

Freeport-McMoran

$0.38

PCAR

PACCAR

$1.21

ROK

Rockwell Automation

$1.89

DHI

DR Horton

$1.68

WAT

Waters

$2.87

IVZ

Invesco

$0.57

ALV

Autoliv

$1.92

PII

Polaris Industries

$2.90

ALK

Alaska Air

-$2.86

SNV

Synovus Financial

$0.81

PPBI

Pacific Premier Bancorp

$0.56

GATX

GATX Corp

$0.87

SFNC

Simmons First National

$0.42

XRX

Xerox

$0.63

CIT

CIT

$0.57

ADM

Archer-Daniels Midland

$1.10

RNST

Renasant

$0.59

MSFT

Microsoft

$1.64

TXN

Texas Instruments

$1.34

SBUX

Starbucks

$0.56

AMD

Advanced Micro Devices

$0.47

CNI

Canadian National Railway USA

$1.42

COF

Capital One Financial

$2.80

MXIM

Maxim Integrated Products

$0.68

VAR

Varian Medical Systems

$1.05

BXP

Boston Properties

$0.60

CHRW

C.H. Robinson Worldwide

$0.97

FFIV

F5 Networks

$2.44

WRB

W.R. Berkley

$0.79

EHC

Encompass Health Corp

$0.85

RNR

Renaissancere

-$1.92

SLGN

Silgan

$0.53

UMBF

UMB Financial

$1.32

NAVI

Navient

$0.83

WSBC

WesBanco

$0.61

FMBI

First Midwest Bancorp

$0.26

RXN

Rexnord

$0.38

EBAY

eBay

$0.84

HOG

Harley Davidson

$0.10

Wednesday (January 27)

IN THE SPOTLIGHT: APPLE, TESLA, FACEBOOK

APPLE: The consumer electronics giant is expected to report profit growth of more than 12% of $1.41 in the fiscal first quarter of 2021 on sales of $102.61 billion, highlighted growth of over 11% from the year-ago quarter. That growth is largely driven by a strong demand iPhone handset, Mac computers, iPad tablets and wearables in the holiday season.

“Our December quarter revenue of $108.2B is 5% above consensus, while our EPS of $1.50 is 7% above consensus. We expect demand strength to continue and our FY21 revenue and EPS estimates are both 5% above consensus,” wrote Katy Huberty, equity analyst at Morgan Stanley.

“Given positioning into the quarter is muted after the rotation out of high-quality stocks over the past several months, we expect strong follow-through post-earnings and are buyers into the print. We also raise our price target to $152, from $144, as we mark our price target to market accounting for recent peer multiple expansion.”

TESLA: The California-based electric vehicle and clean energy company is expected to report a profit of $1.04 in the fourth quarter of 2020, posting a profit for the sixth straight quarter. The manufacturer of high-performance electric vehicles’ revenue is forecast to surge about 35% to $10 billion.

“A double-fly-wheel. We believe Tesla can leverage its cost leadership in EVs to aggressively expand its user base, over time generating a higher % of revenue from recurring/high-margin services revenue. Services drive the upside. We forecast Tesla’s (TSLA) network services EBITDA as a % of total TSLA EBITDA to reach 11% by 2025, 19% by 2030 and 37% by 2040. Tesla Service revenue includes automated driving, infotainment, upgrades, supercharging, maintenance, telematics, etc.,” said Adam Jonas, equity analyst at Morgan Stanley.

“Valuation supportive vs. tech. Including Network Services, Energy & Insurance to our core auto forecasts, at $810 Tesla trades at 25x EV/EBITDA in 2025 and 5x 2025 sales. Expensive vs. auto but not vs. software/tech comps.”

FACEBOOK: The world’s largest online social network is expected to report a profit of $3.16 in the fourth quarter of 2020, which represents year-over-year growth of 23.4% from the same quarter a year ago when the company reported $2.56 cents per share.

According to the Zacks Research, the social media conglomerate’s revenue will increase of 24.7% to $26.29 billion from the year-ago, largely driven by solid ad-revenue growth amid advertiser demand during the holiday period.

“Monetization Potential: We are positive on FB‘s monetization roll-out of Instagram as well as FB’s ability to continue to innovate and improve its monetization (Canvas Ads, Dynamic Ads, video). Combined with the high and growing engagement we see monetization upside going forward,” noted Brian Nowak, equity analyst at Morgan Stanley.

“Investing from Position of Strength to Drive Faster Long-Term Growth: We are modeling 29% GAAP opex (excl. one-time items) growth in 2021, implying an incremental $15bn in opex. Our base case model implies opex per employee moderates in ’21 while FB hiring remains roughly flat on an absolute basis. We believe FB will grow EPS at a 28% CAGR (2019-2022).”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE JANUARY 27

Ticker

Company

EPS Forecast

ANTM

Anthem

$2.53

GIB

CGI Group USA

$0.97

VFC

VF

$0.90

TDY

Teledyne Technologies

$3.05

KNX

Knight Transportation

$0.91

PB

Prosperity Bancshares

$1.35

OSK

Oshkosh

$0.73

NYCB

New York Community Bancorp

$0.26

CVLT

Commvault Systems

$0.47

EAT

Brinker International

$0.35

T

AT&T

$0.73

ABT

Abbott

$1.35

BA

Boeing

-$1.60

ADP

ADP

$1.29

NSC

Norfolk Southern

$2.49

PGR

Progressive

$1.64

GD

General Dynamics

$3.54

BX

Blackstone

$0.90

TEL

TE Connectivity

$1.28

APH

Amphenol

$1.02

GLW

Corning

$0.48

NDAQ

Nasdaq Omx

$1.46

MKTX

MarketAxess

$1.81

HES

Hess

-$0.65

ROL

Rollins

$0.11

TXT

Textron

$0.90

SEIC

SEI Investments

$0.78

PTC

PTC

$0.66

TTEK

Tetra Tech

$0.81

CACI

Caci International

$3.59

LSTR

Landstar System

$1.72

SLM

SLM

$0.36

RLI

RLI

$0.66

SLG

SL Green Realty

-$0.27

AXS

Axis Capital

-$0.28

AVT

Avnet

$0.39

CNS

Cohen & Steers

$0.68

CNMD

CONMED

$0.77

MTH

Meritage Homes

$3.33

CATY

Cathay General Bancorp

$0.76

ISBC

Investors Bancorp

$0.27

CALX

Calix

$0.33

CP

Canadian Pacific Railway USA

$5.03

AMP

Ameriprise Financial

$4.52

AAPL

Apple

$1.41

TSLA

Tesla

$1.04

FB

Facebook

$3.16

NOW

ServiceNow

$1.06

SYK

Stryker

$2.55

LRCX

Lam Research

$5.69

CCI

Crown Castle International

$0.62

EW

Edwards Lifesciences

$0.53

LVS

Las Vegas Sands

-$0.29

TER

Teradyne

$1.00

HOLX

Hologic

$2.17

URI

United Rentals

$4.26

DRE

Duke Realty

$0.16

RJF

Raymond James Financial

$1.65

PKG

Packaging Of America

$1.48

WHR

Whirlpool

$6.00

MKSI

MKS Instruments

$2.01

AZPN

Aspen Technology

$1.17

CREE

Cree

-$0.25

LPL

Lg Display

$0.19

CVBF

CVB Financial

$0.34

XLNX

Xilinx

$0.69

UMC

United Microelectronics

$0.08

Thursday (January 28)

IN THE SPOTLIGHT: Mastercard, McDonald’s, Visa

Mastercard Inc, a leader in global payments and a technology company, will post earnings of $1.53 per share for last quarter of 2020, which represents a year-over-year decline of about 22% from the same quarter a year ago when the company reported $1.96 cents per share.

McDonald’s Corporation, one of the world’s largest American fast-food chain, will post earnings of $1.79 per share for last quarter of 2020. Visa Inc is also expected to report first-quarter earnings on the same day, with earnings of $1.28 per share for the quarter.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE JANUARY 28

Ticker

Company

EPS Forecast

MKC

McCormick

$0.81

LEA

Lear

$3.40

FCFS

FirstCash

$0.82

VLO

Valero Energy

-$1.28

LUV

Southwest Airlines

-$1.66

AAL

American Airlines

-$4.12

NUE

Nucor

$1.16

MSCI

Msci

$1.92

JBLU

JetBlue Airways

-$1.67

FRME

First Merchants

$0.66

MA

Mastercard

$1.53

CMCSA

Comcast

$0.48

ATI

Allegheny Technologies

-$0.35

ABMD

Abiomed

$1.12

ADS

Alliance Data Systems

$2.44

TROW

T. Rowe Price

$2.64

MCD

McDonalds

$1.79

STM

Stmicroelectronics

$0.54

DHR

Danaher

$1.87

DOW

Dow Chemical

$0.64

CNX

Consol Energy

$0.16

SHW

Sherwin-Williams

$4.84

KEX

Kirby

$0.24

MO

Altria

$1.01

NTCT

Netscout Systems

$0.52

CFR

Cullen/Frost Bankers

$1.28

PNR

Pentair Ordinary Share

$0.63

TSCO

Tractor Supply

$1.47

PHM

PulteGroup

$1.39

EWBC

East West Bancorp

$1.01

RCI

Rogers Communications USA

$0.72

NOC

Northrop Grumman

$5.77

SWK

Stanley Black & Decker

$2.99

AIT

Applied Industrial Technologies

$0.74

BPOP

Popular, Inc.

$1.62

AOS

A.O. Smith

$0.58

XEL

Xcel Energy

$0.55

FLWS

1-800-Flowers

$1.38

EXP

Eagle Materials

$1.74

MMC

Marsh & McLennan Companies

$1.13

COLB

Columbia Banking System

$0.60

BC

Brunswick

$1.02

FLEX

Flextronics International

$0.37

WRK

WESTROCK

$0.54

MTSI

MACOM Technology Solutions

$0.37

VLY

Valley National Bancorp

$0.25

PEXNY

PTT Exploration & Production

$0.01

DOV

Dover

$1.38

DLB

Dolby Laboratories

$0.34

FFBC

First Financial Bancorp

$0.45

HTH

Hilltop

$1.13

NATI

National Instruments

$0.13

RMD

ResMed

$1.25

GBCI

Glacier Bancorp

$0.74

ABCB

Ameris Bancorp

$1.16

CE

Celanese

$1.69

FIBK

First Interstate BancSystem

$0.80

JNPR

Juniper Networks

$0.53

SIGI

Selective

$1.20

V

Visa

$1.28

WDC

Western Digital

$0.52

EGHT

8X8

-$0.03

X

United States Steel

-$0.62

FHI

Federated Hermes Inc

$0.78

AJG

Arthur J. Gallagher

$0.78

SWKS

Skyworks Solutions

$2.08

OLN

Olin

-$0.11

MDLZ

Mondelez International

$0.66

PFG

Principal Financial

$1.42

EMN

Eastman Chemical

$1.50

ORI

Old Republic International

$0.43

FICO

Fair Isaac

$2.35

MSTR

Microstrategy

$1.62

RHI

Robert Half International

$0.68

LANC

Lancaster Colony

$1.57

RDN

Radian

$0.60

CAJ

Canon

$0.31

TOELY

Tokyo Electron Ltd PK

$0.78

HOCPY

Hoya Corp

$0.84

DGE

Diageo

£80.90

KPELY

Keppel Corporation

-$0.05

NVR

NVR

$78.78

FFIN

First Financial Bankshares

$0.37

Friday (January 29)

Ticker

Company

EPS Forecast

PSXP

Phillips 66 Partners

$0.89

JCI

Johnson Controls

$0.40

AN

AutoNation

$2.05

HON

Honeywell International

$2.00

MSGS

Madison Square Garden Sports

-$1.63

ATLCY

Atlas Copco ADR

$0.39

SAP

SAP

$1.95

LLY

Eli Lilly

$2.37

CHD

Church Dwight

$0.52

LHX

L3Harris Technologies Inc

$3.09

CL

Colgate-Palmolive

$0.76

BAH

Booz Allen Hamilton

$0.93

BBVA

Banco Bilbaoizcaya Argentaria

$0.13

ERIC

Ericsson

$0.20

RDY

Drreddys Laboratories

$0.58

CVX

Chevron

$0.07

SYF

Synchrony Financial

$0.89

CAT

Caterpillar

$1.48

CHTR

Charter Communications

$4.82

PSX

Phillips 66

-$0.81

BMI

Badger Meter

$0.43

GNTX

Gentex

$0.50

ROP

Roper Industries

$3.49

WY

Weyerhaeuser

$0.42

LYB

LyondellBasell Industries

$1.36

ROLL

Rbc Bearings

$0.82

FBP

First Bancorp FBP

$0.18

KKR

KKR & Co LP

$0.41

HMC

Honda Motor

$0.89

GCTAY

Siemens Gamesa ADR

$0.02

NNIT

Nnit A/S

kr1.62

SPG

Simon Property Group

$0.85

ASEKY

Aisin Seiki Co

$1.19

ALNPY

ANA Holdings ADR

-$0.35

KMTUY

Komatsu

$0.26

TTM

Tata Motors

$0.17

TOTDY

Toto

$0.46

  This article was originally posted on FX Empire

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[pcwpolwrestling]

Riot Breaks Out at PCW Show

================================

[ON SCREEN GRAPHIC: Blue background. The top of the Capitol Building occupies the left hand side of the television screen.

Centered in the middle of the screen: “P-SPAN. THE POLITICAL CHANNEL.”]

P-SPAN Announcer (off screen): The P-SPAN Network bring you long-form public affairs programming from the nation’s capital and are a public service of…

[ON SCREEN GRAPHIC: Logos of twenty three different cable and satellite television companies replace the Capitol Building and P-SPAN graphic.]

P-SPAN Announcer (v/o): …your television provider.

[ON SCREEN GRAPHIC: Returns to the blue background with the top of the Capitol Building occupying the left hand side of the television screen with “P-SPAN. THE POLITICAL CHANNEL.” centered in the middle of the screen.]

P-SPAN Announcer (v/o): P-SPAN. The Political Channel.

===============================

REPLAY: PCW EXTREME ELECTION NIGHT 2020-NOVEMBER 3rd, 2020 –The video screen comes to life.

Johnny Suave: “What the hell is going on?”

The video screen zeroes in on a scuffle backstage.

Who’s Involved? Berkeley, California Professor McCarthy’s Progressive Flock -The Green World Order: GreenPete, PeaceNick, ‘Extreme Vegan’ Brock Cole Lee, Peta from PETA -The Young Jerks: Zenk Cryger, James Idaho, and Anna the foul-mouthed sidekick -Code Pink and Emily S. List -The League of Anti-Fascists: Ted and Chaz

American Heartland Coalition -Charlie Blackwell -‘PCW’s Extreme Pizza Delivery Girl’ Tessa Martin

Johnny Suave: “Professor McCarthy’s Flock are beating down Charlie Blackwell and Tessa Martin.  Both are scheduled to wrestle later on in the evening!”

Colleen Crowder: “It looks like a peaceful protest to me, Johnny.”

Blackwell gets flung into the wall by GreenPete and Brock Cole Lee.  Code Pink glitter bombs Tessa – she’s blinded.  Emily S. List then DDT’s her to the floor.

“Yeah.  Totally peaceful,” Suave says in a tone totally dripping with sarcasm.

Dawn immediately rolls out of the ring and takes off for the back…

…

…PCW cameras find Charlie Blackwell and ‘PCW Extreme Pizza Delivery Girl’ Tessa Martin laid out on the floor backstage being attended to by Nurse Nellie and the PCW Clean-Up Crew.  Also on hand, ‘Red Solo Cup’ Ray McAvay and the Deplorables.

No sign of Professor McCarthy’s Flock.

More worrying, no sign of PCW Owner Dawn McGill.  One of the Deplorables finds a heel shoe McGill was wearing on the floor and brings it to McAvay.

McAvay asks if anyone’s seen McGill?  The PCW Clean-Up Crew tell him the only people they found were Blackwell and Martin.

McAvay immediately sends the Deplorables out to look for Dawn McGill. (END VIDEO)

RURAL COMPOUND THE AFTERNOON OF WEDNESDAY JANUARY 6TH, 2021 ‘Red Solo Cup’ Ray McAvay, ‘Prairie Populist’ William Daniels Bryan, Charlie Blackwell, and the Vice Squad’s General DeBauchery have snuck onto an estate.  All four lie on the ground, dressed in military-ish garb, armed and dangerous.

McAvay peers at a building ahead of them through a pair of binoculars and tells the others to be on ‘standby.’

General DeBauchery peers through the sights of a big sniper-like gun.

General DeBauchery: Set.

McAvay counts down from 3, 2, 1.  General DeBauchery shoots out a window and Bryan throws a concussion grenade through the opening.

*KA-BOOM*

Ray McAvay: MOVE!

The group charges forward.

Charlie Blackwell kicks in the door.  Inside, they find two guards on the floor.

Footsteps.

Two more men rush in.  General DeBauchery cocks his weapon and fires.  He hits both guards in their legs.  They fall.  Bryan and Blackwell disarm the pair.

McAvay motions to one of the guards.

Ray McAvay: Where is she?

General DeBauchery points his gun at the guard to add a little incentive.  The guard points towards one of the back rooms.  McAvay heads there and opens the door.

Dawn McGill: MMMPPHHH!

McAvay finds McGill tied up on the floor.  Hair disheveled and wearing the same clothes she wore at Extreme Election Night 2020.  He removes the gag.

Dawn McGill: Took you guys long enough.

Ray McAvay: Yeah, we’re not really all that experienced with this type of armed commando raid.

McAvay unties her and helps the owner of PCW to her feet.  It takes a second for Dawn to get her bearings and her balance back.

Ray McAvay: We need to get to Hack’s Rusty Nail Saloon…NOW!

McAvay then explains the issue.  If the January 6th show does not take place, PCW will default on its contract with Hack’s Rusty Nail Saloon and Dawn could lose the show all together to The Coke Brothers and George Moros.

McGill tells McAvay she’ll make sure the show happens.  McAvay hands her his cell phone and she makes a call.

===============================

Political Championship Wrestling Extreme Political TV Hack’s Rusty Nail Saloon Wauseon, Ohio Taped Wednesday January 6th, 2020 Sunday January 10th, 2021

Announcers: ‘The Voice of PCW’ Johnny Suave AGE: 50 / HT: 5’ 11” WT: 195 HOME: Philadelphia, PA HAIR: Brown / STYLE: Like Ronnie Dunn / FACE: Goatee DRESS: Brown suit without tie

Colleen Crowder ‘Low Level New York Times Reporter Trying to Make a Name for Herself’ AGE: 38 / HT: 5’ 5” WT: 142 HOME: New York City, NY HAIR: Black / STYLE: Curly / FACE: Narrow face with rounded jaw, turned-up nose, faint freckles, and thin lips. Bulging blue eyes, thin eyebrows. DRESS: Black pants suit

Suave reviews what went down at Extreme Election Night in November.

RESULTS FROM PCW EXTREME ELECTION NIGHT 2020 -PCW Owner Dawn McGill welcomes everyone back to PCW.  She then announces a ‘compromise’ deal had been reached with Mitch McConnell (American Patriots) and Nancy Pelosi (Progressive Alliance)-  ‘Stars N. Stripes’ Kevin Scott of the American Patriots with Donald Trump in his corner will face ‘Mr. Hollywood’ Kevin Daniels from the Progressive Alliance with Joe Biden in his corner and Charlie Blackwell of the American Heartland Coalition for the PCW Title.  At the end of the show, Dawn would then announce who the new CEO of PCW will be: either Donald Trump (American Patriots) or Joe Biden (Progressive Alliance) -MATCH #1-Kayleigh McEnaney defeats CNN’s Jake Tapper and Brian Stelter in a handicap match -MATCH #2/ARIZONA SENATE MEDALLION MATCH: Mark Kelly (Progressive Alliance) defeated Martha McSally (American Patriots) -Gavin Newsom (CA-Progressive Alliance) makes a case for PCW to come to California. -MATCH #3/SOUTH CAROLINA SENATE MEDALLION MATCH: Lindsey Graham (American Patriots) defeated Jaime Harrison (Progressive Alliance) -Both Joe Biden and Donald Trump interview with PCW Owner Dawn McGill for the PCW CEO position. -MATCH #4/PCW TAG TEAM TITLE MATCH: Jill Berg Enterprises (Conservative Inc./American Patriots) defeat The Green World Order (Progressive Alliance) and The Deplorables (American Heartland Coalition) -MATCH #5/ALABAMA SENATE MEDALLION MATCH: Tommy Tuberville (American Patriots) vs. Doug Jones (Progressive Alliance) joined in progress.

The show is stopped at that point by Pennsylvania State Attorney General Josh Shapiro, Michigan Governor Gretchen Whitmer, Michigan Secretary of State Jocelyn Benson, and former Georgia Gubernatorial candidate Stacey Abrams- all from the Progressive Alliance.

-When the show restarts, Tuberville finishes off Jones. -Dawn McGill comes out and gives a second speech.  But the video screen shows Professor McCarthy’s Flock assaulting Charlie Blackwell and Tessa Martin.  Dawn Immediately runs to the back. -MATCH #6/HOUSE WAR GAMES MATCH: Team Progressive Alliance defeats Team American Patriots -Backstage, Blackwell and Tessa are being attended to by Nurse Nellie and the PCW Clean-Up crew.  Neither Professor McCarthy’s Flock nor Dawn McGill can be found.  McGill’s heel is found on the scene. -MATCH #7/MICHIGAN SENATE MEDALLION MATCH: Gary Peters (Progressive Alliance) defeated John James (American Patriots). -Nurse Nellie and the PCW Clean-Up Crew are back at work attending to Ray McAvay, who’s found backstage after being attacked.  Still no sign of Dawn McGill. -The Coke Brothers-Charles and David, Executive Director of the Lincoln Project Sarah Lenti, and George Moros are pleased with the direction the night is going. -MAIN EVENT #1/PCW WOMEN’S TITLE MATCH: Kathryn Randall Collins (Progressive Alliance) defeated ‘Alaskan Rogue’ Sierra Whalen to become the new PCW Women’s Champion. -Bill de Blasio (NY-Progressive Alliance) makes a case for PCW to come to New York City. -MAIN EVENT #2/PCW TITLE MATCH: ‘Mr. Hollywood’ Kevin Daniels (Progressive Alliance) defeated ‘Starz N. Stripes’ Kevin Scott to become the new PCW Champion. -With McGill missing, The Coke Brothers, Lenti, and Moros step in and name Joe Biden the new CEO of PCW.

Cut to the broadcast desk.

PCW! … PCW! … PCW! …

Colleen Crowder pops a bottle of champagne.  Tonight, she doesn’t care about the PCW chant that usually offends her to no end.

Johnny Suave: Hello and welcome to Political Championship Wrrrrestling!

PCW! … PCW! … PCW! …

Crowder leans back and guzzles some the champagne.

Johnny Suave: We are back at the spiritual home of PCW, Hack’s Rusty Nail Saloon!

Suave pauses for the requisite roar from the fans- who seem really amped up more than usual tonight.

Johnny Suave: Tonight, we’ve got the Georgia Medallion match which will be a tag team battle between the American Patriots David Perdue and Kelly Loeffler versus Jon Ossoff and Raphael Warnock from the Progressive Alliance in a winner take all match between both factions.

Colleen Crowder: Woo-hoo!  Stacey Abrams says bet on the blue tonight baby!

Johnny Suave: Also tonight, after the controversial end to their match two months ago at Extreme Election Night 2020, PCW Champion ‘Mr. Hollywood’ Kevin Daniels of the Progressive Alliance will face ‘Starz N. Stripes’ Kevin Scott for the title.

Colleen Crowder: There was nothing controversial about the match Johnny.

Suave points out to Colleen the fact since there was no pinfall in the match at Extreme Election Night 2020 and an unknown referee came in late and declared Daniels the winner constitutes ‘controversial’ in his mind.

Colleen Crowder: You’re lucky the CEO of Facetwitogram Jack Buckenberg isn’t here to properly fact check your false statement you presented without evidence.

Johnny Suave: Finally. We have word that Dawn McGill has finally been rescued.

Another roar from the crowd.

Johnny Suave:  That’s right.  She is on her way to Hack’s Rusty Nail Saloon as we speak and we hope she makes it to tonight’s show in time.

Colleen Crowder: No we don’t.

DAWN McGILL! (clap clap clap-clap-clap) DAWN McGILL! (clap clap clap-clap-clap)

Johnny Suave: Well, the crowd is definitely making their feeling known.

Colleen Crowder: And no one cares, Johnny.  The media sets the tone and tells them what they need to know.

Suave does a quick buildup of the opening match.  The Progressive Alliance and American Patriots split the Senate Medallion matches at Extreme Election Night 2020. –ARIZONA: Mark Kelly (Progressive Alliance) defeated Martha McSally (American Patriots) -SOUTH CAROLINA: Lindsey Graham (American Patriots) defeated Jaime Harrison (Progressive Alliance) -ALABAMA MATCH: Tommy Tuberville (American Patriots) vs. Doug Jones (Progressive Alliance) -MICHIGAN MATCH: Gary Peters (Progressive Alliance) defeated John James (American Patriots).

Johnny Suave: Tonight’s match will break that tie. Let’s go to the ring and Kimber Marshall.

Cut to Kimber in the ring.

Kimber Marshall: Ladies and gentlemen.  This match will be…

Crowd: ONE fall!

Kimber Marshall: …for the Georgia Senate Medallions and to determine the winner of the Senate Medallion Competition.  Introducing first, in the blue corner.  Representing the Progressive Alliance.  Raphael Warnock and Jon Ossoff.

Some cheers.  Lots of boos.

Kimber Marshall: And their opponents.  In the red corner.  Representing the American Patriots.  Kelly Loeffler and David Perdue!

Lots of cheers.  Some boos.

Johnny Suave: All right.  It looks like the referee is ready and this match is underway.

******************************************

MATCH #1-GEORGIA SENATE MEDALLION MATCH

Raphael Warnock and Jon Ossoff (Progressive Alliance) vs. Kelly Loeffler and David Perdue (American Patriots)

******************************************

It’s a close match.  A really close match.  Both teams battle back and forth to forge any advantage they can.

…Ossoff lets go and he latches on a waistlock to Perdue.  Perdue reverses.  Ossoff reverses back and snags an armbar.  Perdue scowls.  He spins Ossoff around and trips him up.  But Ossoff holds on to the arm.  Perdue reverses.  He unleashes a couple of chops.  Boot to the gut by Ossoff.  Perdue with more chops.  Ossoff again boots Perdue in the gut.  Knee lift wobbles Perdue to a corner.  Ossoff runs in, but Loeffler is there with a chair!

*CLANG*

Down goes Ossoff.  Perdue covers.

One…

Two…

Johnny Suave: STACEY ABRAMS PULLS THE REFEREE OUT OF THE RING!

Abrams grabs a chair.

*CLANG*

Down goes the referee.

Warnock runs Loeffler into the ring post.  She’s knocked into dreamland.

Perdue starts to move a little.  Ossoff lays the boots to him.  He pulls Perdue back up.  Wheelbarrow takedown!  Cover!  A new referee slides in.

Colleen Crowder: See?  There’s no problem.  The referee is back in the ring.

One-Two-THREE!

*DING-DING-DING*

WINNERS/GEORGIA SENATE MEDALLION: Raphael Warnock and Jon Ossoff @ 12:32

Johnny Suave: And that gives the Senate Medallion competition to the Progressive Alliance.

There are some Progressive Alliance supporters at the show tonight but the bulk of the PCW fans boo what happened.  A few throw debris into the ring.

Colleen Crowder: Stacey Abrams knew what she was talking about when she said bet on Blue Johnny.  Blue Wave!  Blue Wave!  Take that, sore losers!

IN TRANSIT A speeding vehicle blows past a highway patrolman parked off to the side on the Ohio Turnpike.

Inside the vehicle are The Deplorables: Ray McAvay, Charlie Blackwell, William Daniels Bryan, General DeBauchery of the Vice Squad, and PCW Owner Dawn McGill.

McGill just wraps up a phone call.

Dawn McGill: The first match is over.  Ossoff and Warnock won.  The Progressive Alliance won the Senate Medallion contest.

Ray McAvay: Wow.  The Progressive Alliance is sweeping everything now.

McGill asks what happened after she was kidnapped at Extreme Election Night.  McAvay explains the ending of the PCW title match when the PCW referee was pulled out of the ring, incapacitated, and then replaced by another ‘unknown’ referee who then declared ‘Mr. Hollywood’ Kevin Daniels (Progressive Alliance) the winner of the match.  The Coke Brothers, George Moros, and Lincoln Project Executive Sarah Lenti came out next and then named Joe Biden as the next PCW CEO.

Dawn McGill: Oooh.  I’m sure Trump took that well.

Ray McAvay: Oh yeah.  He didn’t.

McAvay then runs through the aftermath.  Trump’s challenge of the ruling.  Rudy Giuliani and his team trying to get Trump reinstated for a second four year term as PCW CEO.

Dawn McGill: I’m sure that didn’t go well.

Ray McAvay: Nope.  Trump lost at every turn.  Even the PCW Super Court of Justice shot him down, even after Sidney Powell threatened to ‘release the kraken.’

Dawn McGill: Release the kraken?

McAvay nods.

Dawn McGill: And what happened when she released said kraken?

McAvay chuckles.

Ray McAvay: Absolutely nothing.  So, now Trump’s supposed to speak tonight.  I don’t think he’ll concede but it’s over.

McGill checks her watch and urges McAvay to hurry.

But there’s a slight problem.  McAvay glances at his rear view mirror.

Flashing red and blue lights.

Ray McAvay: Damn.

Dawn McGill: Ray!  Really?

McGill flops back in the backseat and sighs.

Cut back to the broadcast desk.

The crowd is really rowdy tonight- loud, boisterous, almost to the point of being surly and agitated.

Johnny Suave: Well. There’s definitely a lot of emotion flowing through here tonight.

Colleen Crowder: Because they’re excited.

Suave agrees with that.

Colleen Crowder: These people are excited that Joe Biden and Kamala Harris are about to ride in to rescue PCW from Donald Trump.

Suave doesn’t agree with that.

Colleen Crowder: Well, that’s the narrative we’re pushing-

The fans explode and immediately drown Crowder out.

Johnny Suave: Hold on a second.

Donald Trump appears and makes his way down the ramp.

Johnny Suave: The CEO of PCW is coming to the ring and he’s apparently going to make a statement.

Colleen Crowder: BOOOOOOO!

The supporters chant “TRUMP! TRUMP! TRUMP!” which merges with the melody of the Imperial March from Star Wars and becomes:

♫ TRUMP.

TRUMP.

TRUMP.

TRUMP-TRUMP-TRUMP

TRUMP-TRUMP-TRUMMMMP♫

♫ TRUMP.

TRUMP.

TRUMP.

TRUMP-TRUMP-TRUMP

TRUMP-TRUMP-TRUMMMMP♫

As Trump reaches the ring and climbs in, Crowder mumbles something about January 20th not getting here soon enough.

Trump thanks everyone for being here tonight under extraordinary circumstances.  He vowed to ‘never concede’ which revved the crowd up.

Donald Trump: You saw what happened at Extreme Election Night 2020.  We will never give up.  We will never concede.  You don’t concede when there’s theft involved.  It will never happen.  We’ve had enough and we will not take it anymore.

The fans again stand and cheer.

Johnny Suave: Strong words coming from the outgoing PCW CEO and he’s really getting the PCW faithful fired up here.

Colleen Crowder: This is all a regurgitation of Trump’s false assertions and unproven claims that he was robbed of the CEO position, nothing more.  Joe Biden won.  Donald Trump lost.  Believe our narrative everyone.  Believe our narrative.

Trump talks for a couple more minutes and then wraps it up.

Donald Trump: We will not let them silence your voices.  We’re not going to let that happen.

And with that, Trump makes his exit.

Johnny Suave: All right, let’s go backstage where PCW reporter Woodward Bernstein is with the challenger in tonight’s PCW title match- ‘Starz N. Stripes’ Kevin Scott.

KEVIN SCOTT INTERVIEW Cut to Bernstein backstage…

Woodward Bernstein: Thanks Johnny.

Scott steps into the shot.

Woodward Bernstein: How does it feel to be back in PCW?

Kevin Scott: It feels real good Woodward.

Scott ruminates about being PCW’s Original Rookie Sensation back in 2006-2007 and winning the PCW title for the first time back in 2008.

WAYBACK MACHINE: PCW Day of Judgment- March 4th, 2008 Starz N. Stripes Kevin Scott (American Patriots) vs. O’Beck Bahama (Progressive Alliance) vs. Halitosis (Independent) in a three way elimination match for the PCW Title -Halitosis eliminated first via a Starz N. Stripes piledriver. – …Bahama misses a leg drop. Starz bounces up, lifts him up, and back suplexes Bahama. A second back suplex by Starz. Bahama wildly charges. Starz sidesteps. Bahama bounces off the ropes and Starz delivers a Death Valley Driver. Cover. 1…2…3!

WINNER AND NEW PCW CHAMPION: ‘Starz N. Stripes’ Kevin Scott.

Woodward Bernstein: Kevin, I know what happened two months ago at Extreme Election Night 2020 was extremely disappointing to you.  Tonight, though, you get another shot at Mr. Hollywood, Kevin Daniels.

Kevin Scott: That’s right Woodward.  I’ve been waiting for this moment for over two months because I did not lose that match at Extreme Election Night 2020.  Kevin Daniels did not pin me.  There was no one-two-three pinfall.  I did not submit.  I was not counted out.  Daniels was given the title and… I’m sorry, that’s not going to fly.

Woodward Bernstein: So, suffice to say, you’re plenty motivated.

Kevin Scott: Oh you bet I am.

Woodward Bernstein: Can you do it one more time?

Scott smiles.

Kevin Scott: Watch me.  I’m going to do it tonight.

Woodward Bernstein: Thanks Kevin.

Scott exits.

‘MR.  HOLLYWOOD’ KEVIN DANIELS INTERVIEW Cut to the Progressive Alliance locker room.

Dan Miller ‘Low Level Washington Post Reporter Trying to Make a Name for Herself’ Sharon Johns ‘Low Level CNN Reporter Trying to Make a Name for Herself’ Interview with PCW champion “Mr. Hollywood” Kevin Daniels.

Dan Miller: Kevin.  Starz N. Stripes Kevin Scott is sadly making the unsubstantiated claim that you did not defeat him at Extreme Election Night 2020.  Your thoughts.

Kevin Daniels: Dan, I beat him.  The crowd saw me beat him.  The referee said I beat him.  The referee is the final arbiter in these matters and I didn’t see PCW Owner Dawn McGill sticking her nose in to say anything different.  So I won.  I’m the champion.  Kevin Scott needs to get over it.

Daniels points to the PCW title belt around his waist to further make his point.

Sharon Johns: So Kevin.  With the win, I heard you received a lot of well wishes and congratulations from your fellow Hollywood stars.

Kevin Daniels: Absolutely.

Daniels goes on to name check just about every major Hollywood star, sports figures, you name it, Daniels name checks it, who reached out and congratulated him on winning the PCW title.

Kevin Daniels: Hollywood knows a champion when they see one.  And that’s me.  Mr. Hollywood.  Kevin Daniels.  YOUR PCW champion.

Sharon Johns: Thanks Kevin and make sure you kick Kevin Scott’s ass tonight.

Kevin Daniels: With pleasure.

STILL ON THE ROAD Still rolling westbound on the Ohio Turnpike, a harried and anxious Dawn McGill is on the phone again.

Dawn McGill: …what?  The main event is about to start?  But we’re still …

McGill spies a mile marker.

Dawn McGill: …sixty-five miles away!

She leans forward in her seat and whaps McAvay on the shoulder.  McAvay reacts.

Ray McAvay: Hey!  I’m driving as fast as I can without picking up a SECOND speeding ticket!

McGill wraps up the call and again falls back in her seat.   She shakes her head.

Cut back to the broadcast desk.

Johnny Suave: All right.  Ladies and gentlemen, it’s time for our main event.  Let’s go to Kimber Marshall in the ring.  Kimber?

Cut to Kimber in the ring.

Kimber Marshall: Ladies and gentlemen, this match will be…

Crowd: ONE FALL!

Kimber Marshall: …and it will be for the PCW Title!  Introducing first, the challenger…

Toby Keith’s “Courtesy of the Red, White, and Blue comes on.

Kimber Marshall: From Ottumwa, Iowa and representing the American Patriots tonight in the red corner.  He is a former 2 time PCW Champion, a former PCW Television Champion, and former PCW Tag Team Champion.  PCW’s Original ‘Rookie Sensation.’  STARZ N. STRIPES… KEVIN!  SCOTT!

‘Starz N. Stripes’ Kevin Scott –former 2 time PCW Champion, PCW Television Champion, and PCW Tag Team Champion (as Starz N. Stripes).  PCW’s Original ‘Rookie Sensation.’ HT: 6′ 3″ WT: 250, HOME: Ottumwa, IA / FIN: American Stars and Fujiawa Arm Bar

Scott comes out dressed in a red, white, and blue signet and mask. He stops on the stage and poses for the PCW faithful who give Scott a massive standing ovation.

Johnny Suave: After Trump’s speech, the crowd energy level has hit a different level.  They are really making a lot of noise here tonight.

Crowder harrumphs and tells Suave it’s nothing.  It doesn’t matter.

Kimber Marshall: And his opponent, from Hollywood, California-

The cheers turn on a dime to boos.  Big time boos.

Kimber Marshall: He is accompanied tonight by The Skanky Rich Bimbos-Paris and Nicole, and ‘Country…er…Pop Songstress’ Taylor Switt.  The PCW Champion.  Ladies and gentlemen.  Mr. Hollywood.  KEVIN DANIELS!

‘Mr. Hollywood’ Kevin Daniels HT: 6′ 0″ WT: 200 / HOME: Hollywood, CA / FIN: The True Hollywood Blockbuster VALETS: The Skanky Rich Bimbos (Paris and Nicole) and ‘Country…er…Pop Songstress’ Taylor Switt

******************************************

MAIN EVENT-PCW TITLE MATCH

‘Mr. Hollywood’ Kevin Daniels (Progressive Alliance) © vs. ‘Starz N. Stripes’ Kevin Scott (American Patriots)

******************************************

The boos and jeers intensify.  Again, debris flies towards the new PCW champion.

Johnny Suave: Kevin Daniels is getting a rough reception here tonight.  I’d almost say too rough if you ask me.

Colleen Crowder: Nobody’s asking you… but you’re right.

BOOOOOOOOOOOOOOOOO

Berkeley, California Professor McCarthy also comes out followed by his Flock: -The Green World Order: GreenPete, ‘Extreme Vegan’ Brock Cole Lee, PeaceNick, and Peta from PETA -The Young Jerks: Zenk Cryger, James Idaho, and Anna -Code Pink, and Emily S. List.

Johnny Suave: Wonderful.  And just when you thought the evening couldn’t get any worse.

Colleen Crowder: Finally.  Someone needs to set these people straight and tell them to shut up.

BOOOOOOOOOOOOOOOOO

Professor McCarthy: Well, well.

BOOOOOOOOOOOOOOOOOO

McCarthy smirks and waits for the crowd.

Professor McCarthy: You can do this all night long and it won’t mean a damn thing.  We have won several great victories here in the last two months.

BOOOOOOOOOOOOOOOOOO!

Professor McCarthy: That’s right, one- we’ve taken out Dawn McGill.  Two, we’ve taken down Donald Trump.  Three- we’ve finally shouted down the Deplorables, removed Deplorables Charlie Blackwell and ‘Extreme Pizza Delivery Girl’ Tessa Martin as viable threats and made sure ‘Mr. Hollywood’ Kevin Daniels was crowned as the rightful PCW champion, Kathryn Randall Collins- the rightful PCW Women’s champion and we’ve taken measures to ensure Deplorables Ray McAvay and William Daniels Bryan won’t be allowed near the PCW Tag Team title.

McCarthy holds up his good book that defines things that are correct or incorrect to say, think, or believe.

Professor McCarthy: Let this be a lesson to everyone.  If you are unenlightened, if you are DEPLORABLe and I’m talking to ALL of you in ‘flyover country,’ red states and, counties all across the nation who aren’t as worldly or intellectually superior as we are, it’s time for you to shut up and listen to your betters.  It’s time for you to throw your support towards us…

BOOOOOOOOOOOOOOOOO

Johnny Suave: Yeah, they’re not really going along with that.

Professor McCarthy: …because if you don’t, we will shout you down.

BOOOOOOOOOOOOOOOOO

Professor McCarthy: So sit down and shut up and watch your PCW champion shout down ‘Starz N. Stripes-

And more debris rain down from all parts of the bar.

Johnny Suave: He’s not helping.

Colleen Crowder: He’s absolutely right Johnny.  According to the narrative we’re pushing, these people are simply deplorable and they need to shut up and stay in their lane.

At one point, Daniels points at someone and threatens to turn around and head to the back.

Johnny Suave: No, this is not good.  Not good at all.

Daniels takes a few more steps forward and more debris is chucked his way.  Even Starz N. Stripes Kevin Scott takes notice and he tries to calm people down.

The SRB and Switt do turn around and head to backstage.

Colleen Crowder: This is all Donald Trump’s fault.  He encouraged this.  He incited these idiots with his words.

Johnny Suave: Well, whether I agree with that or not, we’re going to have to get security out here before something happens.

Well, it does.

Legion of Anti-Fascists (LOAF) Ted HT: 5′ 11″ WT: 180 / HOME: Portland, OR FIN: The Riot Act Chaz HT: 6′ 1″ WT: 205 / HOME: Seattle, WA FIN: The Riot Act

Ted and Chaz also run down from the back and they start jawing with the crowd.

Johnny Suave: Oh crap.

Then it kicks off.  LOAF disappears into the roiling crowd and all hell breaks loose.

Johnny Suave: Oh no.

Fights break out and debris fly all over the place.

Daniels hightails it to the back.  Scott tries to play peacemaker.  And it just falls apart.

Johnny Suave: We’re going to have to evacuate our broadcast position and get to safety.

Scott helps marshall Suave and Crowder through the unruly mob of humanity.

Suddenly, the picture goes black.

ONE HOUR LATER-HACK’S RUSTY NAIL SALOON PARKING LOT. McAvay pulls into the parking lot full of flashing red and blue lights and plenty of police.

Ray McAvay: Uh oh.

McGill sees it too and she gets a sinking feeling in her stomach.

Dawn McGill: Oh my God.

One of the policemen walks up to the car.  McAvay tells the officer Dawn McGill is the owner of PCW.  He motions to them to park the car away from the building.

After Ray parks the car, he and Dawn walk towards Hack’s they begin to see the full scope of damage.  Broken windows.  Glass all over the place.  Chairs, tables broken in the parking lot.

Dawn McGill: Oh no.

They reach the entrance and look inside.

Ray McAvay: Oh man.  They trashed the place.

Tables and chair strewn all over.  The wrestling ring destroyed.  Broken light fixtures.  Glass all over the floor.  Beer and alcohol all over the floor.

Dawn McGill: Oh no, no, no.

The owner of the bar meets her in the foyer.

Hack’s Owner: Like other small businesses we were in trouble to begin with thanks to COVID, I can’t survive this.

Dawn McGill: I am so sorry.

Hack’s Owner: You work hard.  Do the right things.  Make the right choices.  And this happens.  I’m having the place razed and closing it down.

He just shakes his head at Dawn.  He hands her a torn up contract, and walks on.

McGill peers down at the remnants of the document in her hands.

Then it gets really worse.

She sees the Coke Brothers (David and Charles), George Moros, and… Big Tech’s Jack Buckenberg- CEO of Facetwitogram?

George Moros: Well, well, well.  Aren’t you a sight?

Moros refers to Dawn’s disheveled appearance.  McGill’s face turns beet red.

Dawn McGill: You know damn well what happened.  Your goons kidnapped and held me hostage for two months.

George Moros: Really?  All I saw on video was you running out on the show at Extreme Election Night?  Do you have any proof of this or is this just another wild, baseless accusation?

Dawn goes to leap at Moros but McAvay stops her.

Moros has a sick grin on his face.

George Moros: It’s over, Dawn.  You’re through.  I’ve already spoken to the American Patriots and Progressive Alliance and we’ve got everyone on board.  We’re partnering with our new best friend Jack Buckenberg for a new political wrestling show that will be headed by someone you know and love.

Out of the smoke and rubble of the interior of Hack’s Rusty Nail Saloon walks the ‘Sports Entertainment Genius’ Mr. McMann- McGill and PCW’s long-time nemesis.

Ray McAvay: Son of a bitch.

Dawn McGill: Balls.  Not him.  Anyone but him.

McMann goes up to McGill.  He smiles.

Mr. McMann: Wow.  You’ve really let yourself go, haven’t you.

Again, McGill starts to make an aggressive move forward.  Again, McAvay pulls her back.

Mr. McMann: It took sixteen years Dawn, but I’ve finally won.  Game over.

Then Buckenberg delivers the coup de grace.

Jack Buckenberg: Consider yourself deplatformed.

A few minutes later…

McGill, McAvay, and ‘The Voice of PCW’ Johnny Suave watch Mr. McMann- backed by The Coke Brothers and George Moros- give an impromptu press conference attended by The Guild of Low Level Media People Trying to Make a Name for Themselves: Colleen Crowder-New York Times, Sharon Johns-CNN, Bill Smithers-Fox News, Hallie Reed-MSNBC, and Dan Miller-Washington Post.

Johnny Suave: Well?  Who’da thunk that the writer of the movie ‘The Running Man’ may have had a pretty good vision what the future transformation of politics, society, and culture had in store for us?

A dejected McGill notes the enthusiastic applause coming from the Guild of Low Level Media people to McMann’s remarks.

Dawn McGill: So this is how liberty dies… with thunderous applause.

[‘Trumpet Concerto No. 2 in D major – 3 Allegro assai’ begins to play in the background and P-SPAN quickly cuts away to another political event.]

THE END…

[thisisheavynews]

Steven Wilson: “I fall in love with music more than the tools to make it”

When MusicRadar checks in with British art-rock pioneer Steven Wilson, he’s at residence in the studio doing precisely what anybody would count on him to be doing.

“I’m grappling with a new synthesizer as we speak,” he laughs, revealing his newest acquisition to be an Arturia MatrixBrute, “which has roughly a million knobs on the front… and that appeals to me, of course!”

Read more: Anderson Guitarworks Guardian Angel

He’s speaking as we speak to mark the launch of Home Invasion: In Concert At The Royal Albert Hall, filmed on the closing night of his three-night residency in one in every of London’s most prestigious venues, scorching on the heels of final 12 months’s prime 5-charting masterpiece To The Bone.

Released this week through Eagle Rock, the footage captures the progressive visionary and his band in full flight, utilizing breath-taking sounds and imagery to transcend their viewers by a three-hour rabbit gap of dreamy escapism and nightmarish actuality, reaching inventive extremes on its title observe, The Creator Has A Mastertape and Song Of I.

That notion of exposing mass audiences to the unconventionally darkish is nothing new, nevertheless, believes a firmly grounded Steven Wilson…

“I always used to feel that way about Depeche Mode,” he says. “They had been this million-selling band however they’d moments that had been extremely nihilistic. Same with Nine Inch Nails. Rammstein are one other instance. We’ve all acquired that darker aspect in our psyche, so it’s nonetheless doable to attain a more mainstream viewers even when music faucets into that massive-sounding, however very heavy and darkish place.

You will be profitable and nonetheless maintain your allegiance to the darker feelings and heavier textures

“You will be profitable and nonetheless maintain your allegiance to the darker feelings and heavier textures. So I assume it doesn’t utterly shock me that I can get it by to a bigger viewers. I’m very joyful it does… as a result of I love to blast out a violent, brutal riff from time-to-time!”

Featuring a virtuoso solid of musicians together with bassist Nick Beggs, drummer Craig Blundell, guitarist Alex Hutchings and one-time Miles Davis band musical director Adam Holzman on keys, Home Invasion’s masterfully shot renditions focus totally on the singer-songwriter/producer’s more current solo endeavours, sometimes unearthing some shock gems from the previous.

For these in attendance, it was the occasion of the 12 months – and this newest launch succeeds in documenting precisely why that was the case. Here Steven Wilson talks us by his reminiscences from these three unforgettable nights, the gear he’s been utilizing on stage and what he seems for in the session musicians that get to carry out alongside him…

You’ve described the Royal Albert Hall as your favorite venue to play… what goes by your thoughts strolling out on that stage?

When you stroll out on stage, you’re feeling the presence of all these ghosts, alive and lifeless – everybody that has stepped on that stage – and it’s this magical feeling

“I believe to everybody introduced up in England the Albert Hall is famous. I assume should you had been introduced up in France, it will be the Olympia Theatre whereas in Japan it will be the Budokan. It’s the British equal of that… this historic place that everybody has performed. When you stroll out on stage, you’re feeling the presence of all these ghosts, alive and lifeless – everybody that has stepped on that stage – and it’s this magical feeling.  

“Sometimes it’s troublesome to articulate precisely why a venue can have that magical feeling. There are many in the world that appear to be they’d be wonderful, fantastically laid out, nice sound, pretty stage however they simply lack that vibe. It’s virtually inexplicable why the RAH has that, but it surely actually did dwell up to the legend that first time I walked out.

“It felt precisely the manner I’d have needed to, having seen so many reveals there over the years beforehand. It actually works. Although it was basically designed for classical repertoire, it’s nice for my music as a result of there’s numerous area and atmosphere. It simply has this lovely sound.”

The core footage is from the closing evening of three. How did you defend your voice and heat up for that final present, particularly contemplating there’s more weak falsetto work in your newer tunes?

“I’d love to inform you I’ve this regiment that I adhere to for shielding my voice. I don’t… I’m actually unhealthy at it! The RAH reveals had been at the finish of a run by Europe, which began manner again at the finish of January. Over that point, the voice is like all muscle in the physique, should you use it lots, it will get stronger. Obviously there’s the different aspect, the place should you use it an excessive amount of, you’ll be able to harm your self.  

“Even although my present comes up to three hours, numerous the time I’m not really singing. There’s numerous instrumental content material, there are songs which are utterly instrumental. So I’m not singing continuous. Quite the opposite, there’s numerous time for my voice to be resting. The mixture of it being warmed up after two nights and the greatest a part of two months on tour plus these rests meant I didn’t have to fear an excessive amount of over these sorts of issues.  

“And I don’t push my voice very onerous; I’m not the sort of singer that’s shredding my vocal chords each evening, so perhaps I’m lucky in having the ability to be a bit lazy. I’ll sing a number of songs to myself earlier than going out simply to heat up and I don’t drink alcohol as a rule as a result of, as we all know, it dries the vocal chords in a short time. Or fruit juice for that matter! It’s simply water and tea. That’s about as disciplined as I get.”

You’ve stated you fell in love with the Telecaster on [last year’s fifth full-length] To The Bone, which resulted in you buying a 1963 Custom…

“I’ll inform you precisely what occurred. I used to be at residence in studio sooner or later and had an thought for a tune. I used to be touring lots, perhaps it was the latter phases of the final album run. The guitars had been in the lockup, ready to exit on the subsequent leg. I didn’t have many accessible to me at the moment.  

“But there was this low-cost Mexican Telecaster I’d purchased years and years in the past. I figured I ought to personal one, similar to most guitarists assume they need to have a Strat, Tele and no matter else, so I acquired it virtually as a result of I felt like I ought to have one, slightly than desperately wanting one. It sat in the nook for 10 years, utterly unloved and unplayed.  

“On this event it was the solely guitar in my studio. I reluctantly went over, picked it up and the strings had been virtually rusted to the neck. I modified them, plugged it in and fell in love straightaway proper there after which. I began engaged on the tune People Who Eat Darkness, which is a really simple tune and got here to be partly as a result of that Tele sounded so good for issues that in all probability wouldn’t have impressed me on one other guitar…”

It’s humorous how the guitar in your arms can inform your chord selections, really feel and phrasing…

The guitar you employ is answerable for a giant a part of the sound world and musical vocabulary to have for a selected tune

“Honestly, that first E chord I performed sounded so good. This new sound opened up and that was it… I ended up utilizing it as my guitar of selection by the writing course of. What guitar you select to write on can change into the signature of the entire tune. You can’t transition to one other guitar after that, at the least that’s what I discover. The guitar you employ is answerable for a giant a part of the sound world and musical vocabulary to have for a selected tune.  

“It grew to become the sound of the album after which I figured I ought to exit and purchase a high-end one, so I did! But I nonetheless love that low-cost Mexican factor; it has its personal nice sound. That’s the great thing about guitars, they’re all distinctive. Funnily sufficient, I went to see the Nick Mason present at the Roundhouse final week. It was implausible… a whole Telecaster orgy! There’s Gary Kemp and Lee Harris enjoying these outdated Syd Barrett tunes and it simply sounded so good. I used to be in Tele heaven.”

The ‘63 had some actual chunk whenever you plugged into your Hughes & Kettner TubeMeister 5 on Even Less. What drew you to that amp?

“Again, it was one other factor born out of necessity. It was in my studio at the similar time as the Mexican Tele, it’s what I plugged into that day. The mixture sounded so good, and numerous the monitoring for To The Bone was finished similar to that. The TubeMeister 5 has a factor referred to as a Red Box on the again, which suggests you’ll be able to bypass the speaker and report straight out. Purists may be up in horror about that, however you recognize what? It sounded nice.

“I went to Daniel [Steinhardt] at TheGigRig and we began experimenting with a setup that had the little H&Okay virtually as a pre-amp on stage, as a result of I used to be so in love with the sound I acquired on the album. It didn’t fairly work out; it doesn’t have the balls for a dwell context. I nonetheless needed to use it in some way, so got here up with the thought of me turning up on stage virtually like a busker, carrying the amp with my Tele strapped over my shoulder. It really grew to become one in every of the highlights of the present – I beloved doing that.”

(Image credit score: Future)

That stated, you caught with Bad Cat Lynx 50 as per for the remainder of the set. A most loyal servant over the years…

“Yes, it’s such a beautiful piece of equipment. Those guys have been incredibly supportive of me. They’re a small company, they’re quite limited in resources yet they’ve been so helpful. I think everyone that hears that amp notices how good and organic it sounds. It’s old-school in a way. It’s glowing valves. There’s no substitute for that and air moving, is there? At least not for me!”

You’ve stated you keep away from getting too connected to devices in the previous, however what do you search for when shopping for guitars and what number of do you personal roughly?

“I don’t personal as many as individuals would assume. I’m not a guitar fetishist. I fall in love with music more than the tools to make it. I did make a joke onstage once I introduced the ‘63 out, saying it was the first guitar I ever actually beloved. Which is kinda true!  

“I in all probability personal about eight Paul Reed Smiths (one is a baritone, one has a piezo, varied fashions like that), one Strat which is pretty generic, a pair made by AlumiSonic which are lovely and utterly manufactured from aluminium, actually unique-sounding however onerous to management dwell with numerous suggestions and reflection. So I’d say I’ve about 12 or 13 electrical guitars… which could sound like lots, however most guitarists I do know have at the least twice that, if not triple.

I don’t actually perceive the mechanics of guitars. What I do perceive is that if I get a buzz once I choose it up

“In phrases of what I’m searching for, I’m simply trying to be impressed. When it’s in your arms, you begin to play it and hope to really feel that inspiration. I don’t actually perceive the mechanics of guitars – all the pickups, completely different necks, et cetera. What I do perceive is that if I get a buzz once I choose it up. That’s all I’m searching for. When I went to the Fender Showroom to play all their guitars, the ‘63 was the one. I couldn’t inform you why. Someone who is aware of more may in all probability say it has this neck, these pickups, however all I can say is it gave me the feeling I wanted.”

As for the pedalboard, is there something new blowing your thoughts or making an look on Home Invasion?

“One factor I used to be actually eager to get was a superb phaser. I did a little bit of analysis and realised the one I favored the greatest was the Electro-Harmonix Small Stone, but it surely’s a type of issues the place you’ve to get the proper classic as a result of they modified the elements proper by the ’70s and ’80s. Different ones have completely different sounds – anybody who has Jean-Michel Jarre’s Oxygène album will know precisely which one I used to be searching for made round 1974 to 75. Daniel managed to choose one up for me, in order that’s in the rig now. It’s an actual piece of classic gear!

“I nonetheless have all the Strymon stuff for reverbs and delays; it’s the BigSky and TimeLine. I’ve a few Nano POGs as a result of I want an octave up and an octave down for stuff off To The Bone. I modified my compressor – I’ve this one referred to as the Cali76 made by an organization referred to as Origin Effects. They’ve very old style, it’s virtually like a 1176 – the outdated Universal Audio rack compressors that everybody swears by in the studio. The relaxation is just about the similar as earlier than.”

What have been your favorite dwell releases over the years and what do you search for as a fan?

“One factor that places me off numerous dwell DVDs is that there isn’t any cinematic high quality to them. Bands really feel like after they make one thing, it’s as straightforward as a few cameras out entrance, some shut ups and filming in a really straight manner. I discover that a bit boring. My first live performance movie was Live In Pompeii, which is as cinematic as you’ll be able to probably get. It was that and the Sigur Rós one, shot in completely different areas by Iceland, that are actually particular to me.  

“Okay, I’m not in Pompeii or Iceland on this DVD, however what I did need to do is embrace these cinematic methods like split-screen, photos overlaying, slow-motion, blurring… issues that really feel more like a film than a live performance movie. That’s what attracts me in. If you’re making individuals watch one thing for 3 hours, you’ve acquired to maintain them fairly effectively entertained. I inspired the editors to embrace these summary filmic methods.”

You’ve been working with Danish artist Lasse Hoile since 2002 and his twisted surrealism has been included into your dwell reveals…

“He comes from that tradition – dark surrealism like Francis Bacon. He’s also very influenced by the world of cinema, directors like David Lynch are very important to him. That manifests the stuff of nightmares, but not in a crass Hollywood horror way. It’s more insidious. It has a sense of nostalgia, some of it could be from the 19th century, like a Victorian ghost story with the use of dolls and grading the images to near sepia-like textures at times. When we did In Absentia, I thought he captured a perfect visual counterpoint to how the music sounded and that’s still the way I feel.”

Though the internet between you and the viewers felt very completely different this time spherical, particularly on Song Of I…

“It’s not a internet any more; it’s what is named a holographic display. I used to use that net-like gauze, however the new one has a 3D impact and can be utterly invisible whenever you don’t undertaking something on it. Funnily sufficient, one tour we’d overlook it was there and stroll into it as a result of it’s utterly opaque, manufactured from very advantageous silver threads… It was fucking costly, I’ll inform you that!  

“But I believe it was price each penny as a result of the high quality of the photos and jaw-dropping results are unimaginable. I can see jaws actually dropping when that second occurs, as a result of individuals have forgotten the display is even there. It was an excellent funding, really!”

Was the inclusion of Porcupine Tree songs a simple choice? In that you’re more profitable and inventive fulfilled than you’ve ever been… however there’s all the time somebody someplace crying to revisit the previous?

I’m not conscious of what individuals count on or need as a result of I don’t learn any feedback on any social media

“Your query is completely legitimate, but it surely’s very onerous for me to reply as a result of I don’t consider them as Porcupine Tree songs. I consider them as my songs, Steven Wilson songs. We’ve even performed a Blackfield tune in our present too.

“I suppose there was a interval instantly after the band once I began making the solo data the place I used to be fairly cautious of enjoying that repertoire for worry that folks might understand my new profession as a side-project. I’m fairly positive now everybody should realise that is what I do now. This is the future. There isn’t any query of going again to my previous. The work beneath my very own identify is what I do.  

“I really feel more snug now drawing on my entire repertoire, throughout all the tasks, however I’m not conscious of what individuals count on or need as a result of I don’t learn any feedback on any social media. I’m positive there’s numerous noise about wanting a reunion, I’m positive there may be, and that’s flattering in a manner… individuals are connected to that trademark and that band. But for me, the solo undertaking was a continuation of these songs. It’s all a part of my catalogue. I really feel more relaxed now about bringing them in. I don’t assume individuals will assume it’s an indication of any reunion, which they could have finished early on.”

And, really, the Porcupine Tree songs you selected had been fairly sudden…

“I’m not searching for the apparent selections, slightly songs I’ve my very own attachment to. On this tour we did The Creator Has A Mastertape from In Absentia, which is a tune Porcupine Tree by no means even performed, or perhaps solely a couple of times. No one favored it in the band besides me… additionally it was a tune that I felt the present band would rip and do one thing particular with. Especially our drummer, Craig [Blundell], as a result of he loves that pacey drum ’n’ bass vibe.  

“It’s not an apparent selection. I’m not simply going again and choosing the quote-unquote hits, not that we ever had any. But that and Sleep Together, they’re not apparent songs to do. It may be seen as attempting to please the older followers, however really I’m being fairly egocentric and self-indulgent.”

(Image credit score: Kevin Nixon/Future)

As on the recordings, Ninet Tayeb joins the band for Pariah, People Who Eat Darkness and Blank Tapes. What’s the secret to your musical partnership?

“She’s incredible. I can put her on stage, but the reason she blows everyone away is pure and simple. She’s incredibly gifted, I’m happy to give her the forum and there’s no question, she definitely enhances my music. The duets we’ve done I’m very proud of because it can be hard to write one with a man and woman; it can come across as cheesy and kitschy if you don’t get it right.”

You’ve all the time used world-class musicians in this solo band. What do you search for in a session participant and the way gamers make themselves more employable?

“One of issues that’s most essential has nothing to do with music in any respect. It’s about character and chemistry. You’re going to spend a number of months of your life collectively on the highway, you’ve acquired to have the option to get on and have the option to talk collectively. There are a few guys I’ve had in the previous the place that wasn’t straightforward and I had issues. Great musicianship however very onerous to talk with and folks I couldn’t truthfully say I’d change into buddies with by the finish of a tour. The guys in the present band get on so effectively; we’re all good buddies.

I do stress and get anxious about each facet of the present, but it surely takes such a burden off my shoulders once I know everybody else concerned is conscientious

“They all care virtually as passionately as I do, from [long-serving guitar tech] Tonto Jhowry to the musicians. They’re all making the present as wonderful as it may be. That means I can loosen up lots more, I don’t have to fear about the particulars. I’m a little bit of a management freak, I do stress and get anxious about each facet of the present, but it surely takes such a burden off my shoulders once I know everybody else concerned is conscientious.

“They’re not simply turning up to do the gig, they’re participating with the significance points and particulars. From them to my sound man Ian who has been with me for 20 years now, getting the absolute best sound out of problematic rooms each evening, they’ve been so important to making all of it work evening after evening.”

Even although 2013’s The Raven That Refused to Sing (And Other Stories) felt extremely technical and improvised in locations, it was all the time extremely musical…

“My stuff isn’t super-hard to play, but it isn’t easy. It’s somewhere in the middle. You need chops to be in my band, but the one thing I can’t stand is shredding. I cannot abide and it has nothing to do with music and everything to do with sport. And music is not sport! It never should be. Being able to play fast has got nothing to do with my music at all.”

One of the struggles with Guthrie [Govan] was attempting to get him to cease enjoying quick… as a result of when he performs slowly, as everybody is aware of, he’s elegant

“One of the struggles with Guthrie [Govan] was attempting to get him to cease enjoying quick… as a result of when he performs slowly, as everybody is aware of, he’s elegant. But his pure setting is to play fairly quick and shred. I had this sort of battle with him the place I’d strive to pull him again and say, ‘Play slower, play less notes…’ which he did completely fantastically when he did.  

“That’s the primary prerogative for me: each musician has to come in understanding the significance of enjoying sluggish, enjoying nothing, enjoying with area and feeling. They sound like actually apparent issues, however you’d be amazed at how many individuals and youngsters on the market haven’t discovered that lesson. Be artistic, play with area, perceive the significance of silence and be a pleasant individual I can get on with and boss round, haha!”

You have a tendency to goal pentatonic notes on solos like The Same Asylum As Before, in a manner that feels like Jonny Greenwood jamming over a minor blues. What lead gamers impressed that sort of phrasing?

“I assume I like lead guitar traces that really feel like an extension of the vocal melody. That feels like an apparent factor to say, however should you’re the songwriter, you’ll write a solo that comes off the melodies you hear in your head such as you do with your voice. That’s a part of it.

“I grew up at a really attention-grabbing time, when up to date music was post-punk and new romantic bands, from Depeche Mode to Japan to Talk Talk and The Cure or Joy Division. There was nothing intelligent about the manner these guys performed the guitar; it was all about texture, emotion and context.  

“At the similar time, I used to be going again and discovering guys with a more natural, bluesy method like David Gilmour, Andy Latimer from Camel, Robert Fripp, Peter Green from Fleetwood Mac. They performed with this classical, post-Clapton and post-Hendrix bluesiness. Trying to analyse my fashion, I’d say it was someplace in between and as a consequence of all of that. And the pop music again then was more textural, like the Cocteau Twins. Their guitar participant Robin Guthrie was a giant affect on me, utilizing the guitar as textual factor.  

“Later, the more brutal steel riffing got here to play as effectively. I’d be listening to what Mikael Åkerfeldt was doing in Opeth after which listening to stuff like Swans or that brutal King Crimson music the place they performed these very atonal chord clusters. I love that shit, too; John McLaughlin did a good bit, too. People in all probability recognise David Gilmour in my enjoying more than Robert Fripp, however he’s someplace in there, too!”

Home Invasion: In Concert at the Royal Albert Hall is accessible on 2 November through Eagle Rock.

from Heavy News https://thisisheavynews.com/steven-wilson-i-fall-in-love-with-music-more-than-the-tools-to-make-it/

[saltsale1-blog]

Travel Guide: Santa Teresa, Costa Rica

I am a very efficient and maybe overachieving traveler to the point where sometimes I might need a vacation after my vacation because I don’t leave any free time to rest. I meticulously research food, activities, art museums, and hotels. Then I dump all the information into an excel sheet to organize favorite picks and prioritize by day. That being said, I finally decided to take my first relaxing beach trip over the holidays and not plan a thing – just kidding, I just didn’t OVER plan. I am very active and like movement, so I went to my trust travel resource Vogue.com and googled ” yoga + Costa Rica”  to see if they had any retreat or cool hotel ideas. The first thing that popped up was a small up and coming beach town called Santa Teresa, labeled as “The New Tulum.” BOOM.

I emailed 10 hotels that night which were all booked except the newest (and most gorgeous), Mint Santa Teresa, which just happened to receive a cancelation. Last year, a cute Swedish couple in their 30’s opened the adult-only hotel offering four bungalows each with a private terrace and beach views. The hotel might seem like a trek compared to most others which are all line the 3 mile long town with road. To enter, you drive through an unmarked dirt road and up a vertical hill (or mountain like the locals call it) that will steal your breath. As you enter the open air villa designed by architect, Benjamin Garcia Saxe, an array of tropical plants, custom built wooden furniture, bamboo-like ceilings and an infinity pool catch your eye. The best way to explain the experience at Mint is as if you’re trendy yet laid back friends invited you to come stay at their new tricked out villa that is so simple, perfectly landscaped, and carefully curated, that it’s almost hard to peel yourself away from the communal outdoor living area and their company. They serve homemade breakfast every morning on the bar that include pillowy vegan zucchini rolls with fresh papaya and passion fruit jam, berries, banana, mango, cucumber, hummus, hard boiled eggs, banana bread, and most importantly- fresh coconuts with metal straws that you learn to cut into yourselves.

The town is only 3,000 people max, and during high season which is during holiday and winter months, restaurants are still only a little over half full. The best way to get around if you don’t want to walk in the heat or dusty roads, are ATV’s, since they are four-wheel drive and can get through the tough roads. Everyone is super friendly and most of the locals I met were from Sweden, Israel, and Argentina making it a great mix! The healthy, light cuisine suits the surfers and yogis such as: smoothies, juices, salads, sushi, fresh fish. The only spot you need a reservation at is the sushi and Japanese restaurant Koji’s. It’s definitely the best dining atmosphere with beautiful string lights, large trees hanging overhead, and an abundance of individual and communal tables creating the liveliest vibe you’ll see anywhere. For $16 you can get a plate of five nigiri pieces, and my favorite was the Tuna Tataki. Don’t miss the Grilled Jumbo Prawns, and the biggest wild card that shook me up– a Okra Sashimi Salad. The creamy yet refreshing basil dressing draped across the hearty vegetable tower of broccoli, cauliflower, beets, green beans, tomatoes, all hide the red snapper and tuna sashimi below. I never thought a salad would be my favorite dish at a sushi restaurant, but if I had access to this salad regularly, then I would for sure eat it everyday! The last thing not to miss is the Seafood Fried rice with lobster, prawns, salmon, and more. Email Kojisantateresa@gmail.com to make a reservation. 

My next favorite healthy spot was Zula Restaurant, an Israeli restaurant owned by two brothers who settled here after they got out of the army. The falafel is some of the best you’ll ever find and the smoothies and shakes are mandatory after a hot day in the sun. Go for the traditional shakshuka or mahi mahi platter that comes with hummus (just like it tastes in the Homeland), coleslaw, cucumber and tomato salad, fries, and of course, pita bread. Believe it or not, we went back a second time because the homemade pesto and schug which is an addicting red hot sauce made with paprika, jalapeños, cilantro, garlic, oil, salt and pepper. The watermelon and guanabana bright pink smoothie with no added sugars needs to be recreated at juice bars here especially on 100 degree summer days. 

Fishbar’s casual vibe and surfer employees might have slower than usual service, but let’s face it, everything is slower on island time! Grab the wasabi tuna tartar, whole red snapper, and yet again a Mediterranean tuna salad with creamy avocado dressing, giant capers that I haven’t seen since Capri, eggplant, sun-dried tomatoes, and red pepper. If you’re looking for a quick spot to pick up a salad and smoothie, swing by Cafe Social which is on your way back from the beach Playa Hermosa.

This is where you’ll ride the waves and surf your heart out. The soft sand, coconut trucks, and all the amped bros and newbies are chillin everywhere. Have the hotel book your lesson with Mauricio of Santa Teresa Surf Lessons. A little stretching, jumping, learning the flamingo get-up position, followed by hitting the water, and you’ll be up on your board immediately. It’s definitely a lot easier than it looks and riding that wave is a high you won’t want to leave! We ended up booking a second lesson on our last day. Feeling that salt water and warm ocean flow through your hair and skin is why they say “Pura Vida” all day everyday. Life is simple in Santa Teresa. It’s active, refreshing, and all about being present and enjoying yourself. Hotel Flor Blanca offers the best yoga! The Italian teacher, Stefano, pulls you out of your head and pushes your breath and mindfulness the way yoga should be practiced. Overlooking the beach and feeling the sound of the waves within truly transports and forces you to focus unlike indoor, stuffy studios in America. Make sure to get to the class at least 20-30 minutes early to grab a space or you’ll surely be out of luck. Anyone can drop in and the schedule is usually Monday, Wednesday, Friday, Saturday at 10 a.m. for ashtanga style flow and Tuesday/ Thursday at 10:30 a.m. for a more advanced class. I also skipped over to Hotel Tropico Latino for a Yin Class with Daniel at 4 p.m. and Flow Class with Christoph at 8 a.m. They are $14 for drop-in’s and also on a wood paneled floor by the water.

To reach final and complete, utter zen, book a Coconut Scrub Massage at Hotel Florblanca’s Spa Bambu that uses 100% natural products made in house.This beautiful sanctuary easily forces you into a trance as you walk through waterfall filled pools and bamboo encircled treatment rooms. Your senses are immediately heightened by the intoxicating and delicious coconut smell that you might consider licking your arm out of curiosity. However, after I showered off the natural moisturizer, my skin was silkier than it has ever been and so smooth I couldn’t stop rubbing my own arms just to keep checking if it was real! The full body relaxing massage rounding out the finally makes this one of the most memorable treatments, and the staff was so kind to let me take a sample jar of the coconut oil mixture back home with me! Other spa options include: an after sun facial, special men’s facial, wraps, massages, aesthetics, manicure, pedicure. If you book your appointment in the evening, make sure to time your massage so that when you exit you catch the sunset on the beach and grab a smoothie or cocktail at the bar. We even saw a horse galloping by which was beautiful with the orange egg-yolk looking sun disappearing in the distance. As I mentioned this is a beach, surf town, so the nightlife is low key. Swing by Tipsy, a wine bar with the best selections in all of Santa Teresa. The table in the center of the room is communal, so we enjoyed bantering with some Mexico City siblings and some Swedish business partners who now live in LA. Thursday night is their big night out, so walk down the street after a glass to Kika for a party crowd with lights, live music, and dancing. For shopping, you’ll find casual beach and surf wear, a few ceramics, and handmade goods. My favorite stores. Check out the mix and match swim suit selections at Santa Swimwear, the handmade jewelry from Austrian designer Maile Jewelry, homemade soy candles at By The Sea, and homegoods and fancier attire at The Collective.The best time to visit is November through August as rainy season is September and October. Mint is $250 per night during high-season and $180 otherwise. When you need a taxi have your hotel call Manuel Duran at 6181-3890.

Source: http://www.chekmarkeats.com/santa-teresa-costa-rica/

[streetsofsalem]

Daniel Low and the Art of Advertising

Daniel Low and the Art of Advertising

Very often, one of Salem’s longest-running and best-known businesses, Daniel Low & Company, is reduced to a pioneering seller of witch wares with their souvenir witch spoons and other “memorabilia” issued before, during and well after the very important Bicentennial of the Witch Trials in 1892. It all started with a spoon, say the proponents of witchcraft tourism, long ago: we didn’t start it!…

[theplaguezine]

ARCH ENEMY

Interview with Angela Gossow and Michael Amott by Daniel Hinds

(conducted July 2005)

As Doomsday Machine rolls forth, the slow build-up from relative serenity to neck-breaking brutality is a perfect reflection of Arch Enemy's own rise from Sweden's extreme metal underground.  What began as a fusion of virtuoso guitar work and melodic death metal has evolved into one of the most devastating outfits on today's scene.  As good as 2003's Anthems of Rebellion was at getting the band's foot in the door, Doomsday Machinekicks it down and announces that Arch Enemy has arrived in no uncertain terms.  The speed, power and complexity the band is renowned for is accompanied by a heaviness worthy of the album's dreadnought namesake.  Just as the band was embarking on this year's highly successful Ozzfest outing, guitarist Michael Amott and mic destroyer Angela Gossow called in and were clearly amped and ready to conquer the world. Angela, a few questions for you first.  When it comes to death metal, you seem like something of a purist – would you say that’s true? Angela:  Yes, my tastes in death metal are very old-school.  I like the dirty, unpolished, maybe out of sync production of the old Morbid Angels and Obituaries of the world, the life they put into it.  Today there are a lot of high-tech blastbeats and the feeling gets a bit lost for me.  It's maybe more extreme, but that's not the point and the musical aspects get lost a bit. During the recording of the new album, I understand there was a very specific microphone you wanted to use. Angela:  Yeah, a good old German one.  I wanted to use a hand-held microphone this time.  The normal ones you use live, they distort too much, like the SM58.  It's a great live microphone but way too much distortion so you can't record with that.  Our producer, he knows a lot about this kind of equipment and he said Sennheiser microphones, they have a couple of really good ones that they record like radio sessions with.  They interview a person against a really noisy background and it still picks up that person's voice very clearly.  So he went out to find one of these, the Sennheiser MD-21, and there's just a few left because I think they are form the '60s or '70s, really old.  He actually found one, we tried it out and it sounded great.  When you have a handheld, you move more obviously and the distance from your mouth to the microphone changes all the time, and that microphone picks up the same signal still, so you can't hear that even though it's happening.  That's very important when you're recording, that you don't get a very distant sound and a very close sound, but one that is always the same.  But unfortunately they don't have them wireless or I would use that live as well.  I hate wires so I have to always get a wireless. I saw that sports was listed on your hobbies list – is that watching or playing? Angela:  Oh no, I don't watch sports - it's painfully boring to watch other people run after the ball or whatever.  I'm very, very active, I'm one of those restless people, I can't really sit around.  I didn't do any sports until I was 24 or 25 because I was just working my ass off in an office.  I was tired but I couldn't sleep at all every evening, like my mind was tired but my body was wide awake, and when I discovered sports it solved a lot of problems.  I don't feel good when I haven't done anything.  When you go on tour, you do something every night, running around on stage, and that's a workout in itself, but when you're home… I can't just sit around.  I can feel my body getting restless and angry with me, 'Use the muscles you've got, you're fucking degenerating right now!' (laughs)  So I move as much as I can, I go running, I lift weights, I go swimming, whatever is possible. All right, now a couple for Michael.  It seems like, after lead guitar was somewhat banished in the 90s, it is finally making a comeback.  What are your feelings about that? Michael:  I hear a lot of attempts at lead guitar. (laughs)  I was reading Guitar World the other day and a lot of bands that you never thought would have guitar solos are saying, ‘We’re incorporating lead guitar, we’ve been listening to Iron Maiden, blah blah blah.’  And I’m just like…’Fuck you.’  (laughs)  We do it well and we’ve been doing it all the time.  For those first two albums, it was like we were standing there with a flag, going, ‘Hey, we play guitar solos!  Why is nobody behind us?’ (laughs)  Apart from the obvious people like Zakk Wylde and Steve Vai, but that is kind of a different style – in our genre we were kind of alone.  I think we were ahead of the game in that department.  But I sound kind of negative there and I’m all for it.  It just seems like there are so many trends in music now and metal as well.  People are so worried about what the other bands are doing and when one thing takes off and is successful, everybody wants to be exactly the same.  To me, that is complete bullshit.  Music should be from the soul, it should be from the heart.  It shouldn’t be from listening to what other bands are doing   I just prefer music by musicians who stay true to their… you know, if you were a nu-metal band in the 90s and playing no lead guitar, I think they should stay that way now as well.  There’s a lot of fakeness out there. Japan was kind of the first nation to really embrace Arch Enemy.  Have you maintained that popularity in Japan over the years? Michael:  It's still very good.  It's true, that was the first country that really picked up on the band and we developed a fanbase over there and we just stuck with it.  We still do at least one or two tours over there on every album.  I was just over there actually a couple weeks ago, I did some promotion for The Doomsday Machine.  We've been to Japan a lot in the last few years - this was my fifteenth visit since '97.  It's great, especially for me being kind of a connoisseur of hard rock and guitar music - everything is released over there on CD.  You just go to record stores and find all kinds of crazy stuff from these 70s bands that nobody gives a shit about in the rest of the world.  It's a pretty amazing place. On a more serious note, I wanted to ask both of you what your thoughts were about the London bombings recently? Michael:  I was in Japan on the promo tour I told you about.  I didn’t hear about it all day and then late in the evening, I called my manager – it’s 2 o’clock in the morning in Japan and I was awake, jet-lagged – I called my manager’s assistant in London, they are based in London.  I’m like, ‘Everything’s going well here, blah blabh blah,’ and he’s like, ‘Well, you haven’t heard what’s happened over here then’ and he told me about it.  It’s devastating, you know.  We spend so much time over there because our management company is based over there.  I don’t know… what can you say?  It’s just very disturbing.  I can’t really comprehend why people want to do stuff like that.  It’s like 9/11 as well.  Hard to comprehend what goes on in these people’s minds, being a complete atheist myself.  Whatever opinions I have, whatever views or values that I have, I don’t feel the urge to force them upon other people.  As a musician, some people get very political but I keep a really low profile.  I have my own beliefs and my own standards, but I don’t really feel the need to push them on other people.  I’m pretty tolerant I think.  We have a lot of friends in London, so we were all just calling to make sure people were okay and thankfully nobody that we knew was injured.

Angela:  We were in Italy doing promotion, me and Daniel, and Daniel's brother Adrian and his wife both live in London, around the corner from Liverpool Street, one of the bomb [sites].  It's terrible that it happened but at least there weren't too many causalities, I think 50 or 60.  It could have been much worse.  I see the reactions of the London people and I think they're very brave, like 'Fuck you, we're not afraid.'  I think that's the right thing to do because if you get scared by it, then they've basically won.  You can't make any place that safe, especially the Underground because there are so many people in there every day.  All you can do is just show them that they can't wear you down.  For us, it means there will be a lot more security at all the airports, which I'm actually glad about because you don't want anybody like this on your plane, but it makes things so much more difficult.  And it always hits the wrong people, you know, like innocent children, mothers, fathers on the way to work…  I don't understand how somebody can think that way.  There is something terribly going wrong in this world at the moment and I don't think that American politics make it much better. Angela, last time I interviewed you, we talked about the role of organized religion in a lot of today's world problems - how about the political side of things? Angela:  Well, the problem with Islam culture is the politics and religion are extremely mixed up, religion as politics and politics as religion.  I think that's why you can influence people that badly and make them do things that are completely…  I don't know.  If you read the Koran, it says if you kill somebody, you're not going to be in Paradise, you're going to be in Hell.  I don't know how they can twist and turn that in a way that you can get rewarded for killing innocent people just because they have the wrong ideas or the wrong religion.  That's what mankind does; people use everything to manipulate others, especially religion, and that makes these countries very dangerous at the moment.  I think that's why it's not going to stop.  They were born into that system and that belief, they get brainwashed from day one, and I think it's going to be impossible to stop that to be honest.  It doesn't really have to do with the religion itself, it is just what the leaders do with it, how they use that tool in a very evil way.  All you can do is try to reach these people and talk to them, inform them that there is a very different world out there.  It's really hard to change somebody's mind if he is getting fed that since he was a baby basically.  In Germany, we're a very democratic country and I think we are really lucky to be born in these countries and have at least some choice.  We can get some education, watch the news, and get some kind of objective opinion.  Religion is still very strong in the Western world as well and when you listen to what the Pope says, you're like, 'Oh my god…'  That's really fucked up I think, what he says about abortion and women and marriage.  Whenever he says something, it has a lot of political effects as well.  It's a dangerous combination, religion and politics, but it happens all over the world. Our leaders here in America cross that line far too much, too. Angela:  Yeah, like with the homosexuals - why can't they just let them do what they want to do?   Getting back to the music, will there be an actual single from this album? Angela:  Yeah, I think the UK is going to do it.  In Europe, [the album] comes out later than in America so I think that's what they're going to do, have a single for "Nemesis" and put a couple other tracks on it.  We already shot the video for it. How did that go? Angela:  Good.  It was over two days and we tried to get as much done as possible, so basically you end up shooting the day, the night, and the next day, that's how it always goes.  Everybody is always totally fried in the end.  But I saw the first rough cuts and they look really good.  I think it's worth the pain and the effort you put into it if you get a good video out of it. What's next for Arch Enemy? Michael:  We’re going to stay busy.  After Ozzfest, we’re going to have three weeks off, which we’ll probably need by then, and then we’re going to tour in Europe, headlining, then Japan, Australia, and come back to America after that.  That’ll take us up 'til Christmas basically.  Then Christmas off and start it all up again.  We’re going to come back to America 3 or 4 times on this album, that’s the plan anyway.  America will be absolutely sick of us by the time we’re done. Looking at the band's message board, I see people from South America and India all begging you to come play in their countries.  Do you have any new territories lined up for this round of touring? Angela:  We're definitely going to go to Australia this year because we haven't been there and it's a fantastic place to tour and we have a lot of fans who are begging us.  South America, I don't know.  We want to tour South America but we're looking for maybe a bigger band that we can support and ride on their back because South America is kind of a bit tricky when it comes to reliability of promoters and all that stuff.  I've seen a lot of bands try to tour over there and they basically had a lot of bad luck: half the shows got canceled, they didn't get their money, they were stopped by the police, that kind of thing.  So I think we'd be a lot safer [going] with another band that is more experienced in that market.  It would be great if Judas Priest would take us out. (laughs)

www.archenemy.net

[dasananya]

Vegan Pasta Category (Dried, Fresh)Type (Penne, Spaghetti, Elbows, Fettuccine & Linguine, Filled Pasta, Others) (Hypermarkets/ Supermarkets, Convenience Stores, Specialty Stores, Independent Small Groceries, E-Commerce, Others) : Global Opportunity Analysis and Industry Forecast Upto 2027

Vegan is a type of vegetarian diet that provides nutrition without the use of animal products and their end products such as eggs, milk, cheese, fat, meat, stock, caviar, and roe. The vegan diet excludes eggs, meat, dairy, and all other animal-derived products such as collagen, honey, and gelatin. Consumption of vegan food has many potential benefits such as low cholesterol level, anxiety & stress-inducing hormones such as cortisol and adrenaline, and insulin. This is changing consumer perception toward animal-derived products and further fueling the growth of the vegan food market.

Download PDF Sample Report @ https://www.alliedmarketresearch.com/request-sample/7451

The trend of veganism has gained traction over the past few years, manufacturers of food & beverage industries are focusing on tapping this opportunity to increase their sales, by reinventing their product. Pasta being the most preferred convenient food is also gaining traction in its vegan segment. Several popular brands have started offering various types of vegan pasta, boosting the growth of the global vegan pasta market further. Initially, the growth of vegan pasta was high in developed regions like North America and Europe. But now, developing countries have also started to show ample lucrative opportunities. The brands are selling their vegan pasta at the all-vegan section of retail stores like Costco, Whole Foods, and Walmart. Also, certifications on the labels of food products help the consumers to get an insight about the product being vegan. Although the vegan pasta market is at its infancy stage, still vegan pasta market is expected to see growth during the forecast period.

Companies covered

Barilla Group, Windmill Organics, Plamil Foods, Sweet Earth, Eden Food, Dakota Growers Pasta Co., Archer Daniels Midland, Amy’s Kitchen, TreeHouse Foods Inc., Daiya Foods, Bionaturae LLC, Schnitzer, and Pastificio Lucio Garofalo S.p.A.

COVID-19 Scenario Analysis 

It is predicted that the COVID-19 outbreak will benefit the vegan industry. Due to an increase in veganism, there is an expected rise in the demand for plant-based food items. People are motivated to move away from meat due to diseases driven by animal-based products. Due to the health benefits of the vegan diet, especially its capability to boost the immunity will drive the consumers towards the consumption of vegan products, in the COVID-19 pandemic situation. But, disruption in the supply chain is still a major challenge, faced during COVID-19, by the suppliers.

Get detailed COVID-19 impact analysis on the Vegan Pasta Market @ https://www.alliedmarketresearch.com/request-for-customization/7451?reqfor=covid

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Rise in trend of veganism, rapidly changing lifestyle, consumers' inclination toward a healthy diet, availability of a wide range of vegan pasta, less preparation time, and vegan pasta being high quality and healthier product stimulate the growth of the vegan pasta market.

Although increase in competition due to the entrance of many players, vegan pasta being a premium product with a high price can hamper the market growth for the vegan pasta. Along with this lack of awareness regarding vegan products and their health benefits also slows down the growth of the vegan pasta market, globally.

However, an increase in number of consumers who are preferring vegan food, changes in eating behavior of consumers toward healthier food, penetration of internet as a distribution channel, and rise in awareness about vegan products propel the growth of the global vegan pasta market. In addition, innovation in vegan food products, the advent of new different types of pasta in the vegan segment, and improved marketing strategies are few other opportunities that drive the global vegan pasta market growth.

Key Benefits of the Report:

This study presents the analytical depiction of the global vegan pasta industry along with the current trends and future estimations to determine the imminent investment pockets. The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global vegan pasta market share. The current market is quantitatively analyzed from 2020 to 2027 to highlight the global vegan pasta market growth scenario. Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. The report provides a detailed global vegan pasta market analysis based on competitive intensity and how the competition will take shape in coming years.

For Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/7451

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesToll Free (USA/Canada):+1-800-792-5285, +1-503-894-6022, +1-503-446-1141UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1-855-550-5975help@alliedmarketresearch.comWeb: https://www.alliedmarketresearch.com

[vincentpennington]

St. Paul Sandwich (Paleo, Low Carb, Gluten Free)

This St. Paul Sandwich is a paleo, low carb, and gluten-free version of the midwestern Chinese-American classic! You can assemble this sandwich in minutes if you already have some Egg Foo Young patties in the fridge!

This dish represents me as a sandwich—an umami-packed, paleo-friendly Chinese American leftover makeover!

What is a St. Paul Sandwich?

A St. Paul sandwich is a midwestern Chinese-American classic: golden-brown egg foo young patties and pickles tucked in-between two pieces of white bread slathered with mayonnaise. Its origins can be traced back to Steven Yuen, the former owner of Park Chop Suey in Lafayette Square near downtown St. Louis, Missouri. Yes, you heard that right: ST. LOUIS. Although this sandwich first gained popularity in St. Louis, the sandwich is allegedly named after Yuen’s hometown of St. Paul, Minnesota!

How is this sandwich Paleo?

In this healthier St. Paul sandwich, I’ve cut out the grains in the bread and egg patties, and added paleo-friendly condiments like Quick Pickled Red Onions and a spicy sriracha mayonnaise to amp up the flavors!

Leftover Makeover!

I love leftover makeovers because you can easily and quickly transform last night’s meal into something new and exciting. St. Paul sandwiches are one of the best examples of a leftover makeover—two times over!

My Egg Foo Young recipe is already a leftover makeover because you can fill the egg-y patties with leftover protein and vegetables. The next day, you can tuck leftover Egg Foo Young patties into these tasty sandwiches! Voilà!

I always make a double-batch of Egg Foo Young patties so I can use the leftovers to make St. Paul Sandwiches. When you’re hangry, you can assemble one in just a few minutes if you have all the ingredients on hand!

What Type of Paleo Bread Can You Use?

Luckily, paleo-friendly grain-free bread is not so hard to find these days! There are lots of great paleo sandwich bread recipes online, including this one by Danielle Walker. You can also buy a terrific paleo sandwich bread mix from Legit Bread Company. Too lazy to bake? You can buy fabulous paleo-and keto-friendly loaves from Misfits Bakehouse! They ship nationwide and you can order them here.

Time to Make St. Paul Sandwiches!

Makes 4 sandwiches

Ingredients:

8 Egg Foo Young patties

½ batch Quick Pickled Red Onions

¼ cup Paleo mayonnaise (store-bought is fine!)

¼ cup Whole30 Sriracha

8 slices Paleo grain-free bread (see note above for recommendations)

8 thin tomato slices

4 leaves Romaine or butter lettuce

Equipment:

All of my recommended kitchen tools are listed here.

Method:

Go grab some Egg Foo Young patties and your jar of Quick Pickled Red Onions! You can heat the patties in a toaster oven or air fryer at 325°F for 5 minutes or until warmed through. (You can also assemble the sandwiches with cold Egg Foo Young, too!)

In a small bowl, whisk together the mayonnaise and sriracha and slather the sriracha mayonnaise on one side of each piece of bread.

Pile each sandwich with two paleo Egg Foo Young patties, two tomato slices, a handful of Quick Pickled Red Onions, and a lettuce leaf.

Top the remaining pieces of bread on top of the four sandwiches.

Slice each St. Paul sandwich in half and enjoy!

Looking for more recipe ideas? Head on over to my Recipe Index. You’ll also find exclusive recipes on my iPhone and iPad app, and in my cookbooks, Nom Nom Paleo: Food for Humans (Andrews McMeel Publishing 2013) and Ready or Not! (Andrews McMeel Publishing 2017)!

 PRINTER-FRIENDLY RECIPE CARD

Print

St. Paul Sandwich (Paleo, Low Carb, Gluten Free)

This St. Paul Sandwich is a paleo, low carb, and gluten-free version of the midwestern Chinese-American classic! You can assemble this sandwich in minutes if you already have some Egg Foo Young patties in the fridge!

Course Lunch

Cuisine Chinese American

Keyword gluten-free, low carb, nom nom paleo, nomnompaleo, paleo

Prep Time 5 minutes

Cook Time 5 minutes

Servings 4

Calories 540kcal

Author Michelle Tam

Ingredients

8 Egg Foo Young patties

¼ cup Quick Pickled Red Onions

¼ cup paleo mayonnaise or store-bought paleo mayonnaise

¼ cup Whole30 Sriracha

8 slices Paleo sandwich bread see post for recommendations

8 slices tomato

4 leaves Romaine lettuce or butter lettuce

Instructions

Go grab some Egg Foo Young patties and your jar of Quick Pickled Red Onions! You can heat the patties in a toaster oven or air fryer at 325°F for 5 minutes or until warmed through. (You can also assemble the sandwiches with cold Egg Foo Young, too!)

In a small bowl, whisk together the mayonnaise and sriracha and slather the sriracha mayonnaise on one side of each piece of bread.

Pile each sandwich with two paleo Egg Foo Young patties, two tomato slices, a handful of Quick Pickled Red Onions, and a lettuce leaf.

Top the remaining pieces of bread on top of the four sandwiches. Slice each St. Paul sandwich in half and enjoy!

Notes

There are lots of great paleo sandwich bread recipes online, including this one by Danielle Walker. You can also buy a terrific paleo sandwich bread mix from Legit Bread Company. Too lazy to bake? You can buy fabulous paleo-and keto-friendly loaves from Misfits Bakehouse! They ship nationwide and you can order them here.

Nutrition

Calories: 540kcal | Carbohydrates: 33g | Protein: 21g | Fat: 24g | Fiber: 11g

The post St. Paul Sandwich (Paleo, Low Carb, Gluten Free) appeared first on Nom Nom Paleo®.

[bountyofbeads]

https://www.propublica.org/article/trump-inc-podcast-trump-tower-tax-records-reveal-new-inconsistencies/amp?__twitter_impression=true

Trump made Trump Tower look more valuable to lenders (when he wanted $) and less valuable to the government (when he wanted to keep his tax bill low) - a shell game he’s played for years with lots of his properties. Via ⁦@propublica⁩

Trump Tax Records Reveal New Inconsistencies — This Time for Trump Tower

Documents show the president’s company reported different numbers — higher ones to lenders, lower ones to tax officials — for Trump’s signature building. Last month, ProPublica revealed a similar pattern in two other Trump buildings.

by Heather Vogell | Published Nov. 27, 2019 4:00 a.m. EST | ProPublica | Posted November 27, 2019 |

Donald Trump’s business reported conflicting information about a key metric to New York City property tax officials and a lender who arranged financing for his signature building, Trump Tower in Manhattan, according to tax and loan documents obtained by ProPublica. The findings add a third major Trump property to two for which ProPublica revealed similar discrepancies last month.

In the latest case, the occupancy rate of the Trump Tower’s commercial space was listed, over three consecutive years, as 11, 16 and 16 percentage points higher in filings to a lender than in reports to city tax officials, records show.

For example, as of December 2011 and June 2012, respectively, Trump’s business told the lender that 99% and 98.7% of the tower’s commercial space was occupied, according to a prospectus for the loan. The figures were taken from “borrower financials,” the prospectus stated.

In tax filings, however, Trump’s business said the building’s occupancy was 83% in January 2012 and the same a year later. The 16 percentage point gap between the loan and tax filings is a “very significant difference,” said Susan Mancuso, an attorney who specializes in New York property tax.

A spokesperson for the Trump Organization said that “comparing the various reports is comparing apples to oranges” because reporting requirements differ.

Trump had much to gain by showing a high occupancy rate to lenders in 2012: He refinanced his share of Trump Tower that year and obtained a $100 million loan on favorable terms.

The vast majority of the gap between occupancy figures could be explained by diverging reports on how much space the Trump Organization used in Trump Tower. In loan documents, the company said it and its affiliates occupied 74,900 square feet in mid-2012, or 31% of the building. But tax reports from the January before and after listed the company and related parties as occupying 41,600 square feet — or about 18% of the tower.

“I cannot give you an explanation,” said Kevin Riordan, a financing expert, former accountant and real estate professor at Montclair State University who reviewed the tax and loan records for Trump Tower at ProPublica’s request.

More than a dozen tax and finance experts, presented with ProPublica’s earlier findings, also said they could not decipher a reason for the differences. As with Trump Tower, the discrepancies made the two properties — a skyscraper located at 40 Wall Street and the Trump International Hotel and Tower near Columbus Circle — appear more profitable to the lender and less so to property tax officials.

Those discrepancies were “versions of fraud,” according to Nancy Wallace, a professor of finance and real estate at the Haas School of Business at the University of California-Berkeley. The penalties for false filings can include fines or criminal charges.

The diverging numbers match a pattern described by Michael Cohen, Trump’s former lawyer, in congressional testimony this year. Cohen said Trump at times inflated assets’ value in documents submitted to lenders in an effort to secure loans. In reports to tax officials, Cohen testified, Trump would lower the value to reduce what he owed.

The focus on Trump’s business and personal financial records has been particularly intense of late. Manhattan District Attorney Cyrus Vance Jr. has subpoenaed a wide array of Trump financial records to investigate claims that the Trump Organization falsified records of hush-money payments to pornographic film actress Stormy Daniels, who said she and Trump had a sexual encounter. (He has denied the affair.)

Congressional lawmakers are seeking Trump’s personal tax returns, as well as other financial information, as part of their investigation into potential foreign influence on the presidency. Two federal courts have affirmed lawmakers’ right to enforce the subpoenas, and Trump has appealed to the U.S. Supreme Court.

ProPublica used New York’s Freedom of Information Law to obtain property tax filings for four of Trump’s Manhattan buildings, including Trump Tower. The income and expense statements Trump filed when repeatedly appealing the city’s valuation of his property are public under the law. We then compared information in the tax reports to loan data made public when Trump’s debt became part of pools of loans sold publicly as bonds known as commercial mortgage-backed securities.

Information in tax and loan filings can differ for legitimate reasons, experts said. A small portion of the occupancy gap at Trump Tower did appear to have an explanation: About 2.5 percentage points of the discrepancy in 2012 consisted of an instance where the Trump Organization treated newly leased, but still empty, space as full in its loan documents (which Trump’s lender disclosed) but not in tax documents.

The Trump Organization refinanced Trump Tower in 2012, replacing its existing $27 million in debt with a loan for $100 million. That allowed Trump to extract about $68 million in cash. The same institution that handled the refinancing, Ladder Capital, refinanced 40 Wall Street and the Columbus Circle property a few years later.

Occupancy, along with cash flow, is a factor used by lenders and ratings agencies to assess the riskiness of a loan. Trump secured relatively favorable terms: an interest-only loan that allowed him to avoid paying monthly principal. The Trump Tower loan received coveted AAA and Aaa ratings, respectively, from credit agencies Fitch and Moody’s. (The company has continued making payments.)

When it comes to reporting property taxes in New York City, there’s a potential incentive for owners to minimize how much space they’re renting to themselves. The city’s Tax Commission, which handles property tax appeals, tends to treat owner-occupied space as if it’s being rented at full market price, which increases the value the tax commission assigns to the building, and thus increases the tax bill. But the commission often won’t assign such income to vacant space, said Mancuso, the New York property tax expert.

The Trump Tower filings showed smaller discrepancies when it came to income. (New York City assessors consider income when calculating the taxable value of commercial properties, making New York property tax filings resemble those of income taxes more than property tax filings typically do in other parts of the country.)

Trump Tower, however, fell shy of expectations for profit set out by underwriters working for Ladder Capital during the refinancing, tax and loan records show. They had pegged net operating income at roughly $20.4 million a year. In the years after the loan was made, the building hasn’t come close.

New York City real estate observers have suggested that the tight security needed at the tower because of the presidency has cut into Trump’s ability to make money from the building. This year, China’s biggest bank, Industrial & Commercial Bank of China, made plans to reduce its space in Trump Tower when its lease ran out, according to Bloomberg News.

The financial institution that arranged the Trump Tower refinancing, Ladder Capital, is a publicly traded real estate investment trust that reports more than $6 billion in assets. It has a close Trump connection: Jack Weisselberg, an executive in loan origination, is the son of the Trump Organization’s longtime chief financial officer, Allen Weisselberg. Allen Weisselberg is under investigation by the Manhattan DA for his role in the Daniels payments.

Ladder Capital declined to comment.

Doris Burke contributed reporting.

[airsoftreview]

The Guide to Denver Real Estate (for the Design-Obsessed)

Illustration by Claire Rollet

Most home-buyers call their real estate agent with a “must” list at the ready—a catalog of wants and whims ranging from the number of bathrooms needed to retain familial sanity to walkability to the newest hipster bar. But the aesthetes among us are on the hunt for even more: a bona fide architectural gem—an antidote to the soulless new builds popping up around town. “There’s this shift happening in that people are wanting homes with more detail and charm, and not just a blank slate,” says real estate agent Heidi Cox of Distinct Real Estate.

To help you find those homes, we’ve created the following rundown of where to look for architectural beauties in and around Denver, the drawbacks and benefits of six common styles, how to maximize your MLS search, what to know about historic designations, and much more. Whether you’re dreaming of waking up each morning in a classic Denver Square, or you’ve already furnished a mid-mod ranch in your mind (Eames forever!), there’s help for you here.

Our panel of real estate experts:

Ron Buss, Realtor at Coldwell Banker Dee Chirafisi, broker and founder of Kentwood City Properties Heidi Cox, Realtor at Distinct Real Estate Lane Walsh, broker and owner of Dwell Denver Real Estate

By the Numbers: So, What’s It Going to Cost You? A renovated Victorian in Congress Park. Photo by Raul Garcia. Styling by Kerri Cole.

Short answer: It varies, but be prepared to pay more for less. For example, “midcentury moderns usually don’t have basements, which means they’re typically lower square footage,” says Realtor Lane Walsh of Dwell Denver Real Estate. “And architectural styles with smaller floor plans sell for a higher price per square foot simply because of the math. If a 900-square-foot bungalow in West Highland sells for $530,000, the price per square foot is about $588. If a 2,000-square-foot Denver Square in Park Hill sells for $900,000, the price per square foot is $450. So even though the Denver Square is more expensive, the bungalow has a higher price per square foot.” Ultimately, says Realtor Dee Chirafisi of Kentwood City Properties, the cost of a historical property is often determined by how much it has been renovated: “A Victorian with original electrical, plumbing, and kitchen is likely going to be much less expensive than an [updated] midcentury modern.”

Know the Lingo: Denver Architecture 101

Presenting six historical home styles that are iconic to Denver—plus where to find them and what pitfalls to expect.

Queen Anne Victorian Queen Anne Victorian. Photo credit: Getty Images.

Leave it to an architectural style named for a royal to be ornate. From 1880 to 1910, these amped-up Victorians were the ne plus ultra in modern living, with scalloped shingles to draw eyes up to gables, turned spindles zhushing up porches, and interiors so cinematic you’d think you were on a movie set.

Expert Intel: “Victorians can have very challenging floor plans,” Realtor Lane Walsh says. Kentwood City Properties’ Dee Chirafisi agrees: “It’s difficult to do any kind of main-floor master suite because they just weren’t laid out that way—although a lot of people do really lovely additions on the back.”

Where to Look: Baker, City Park West, City Park South, Curtis Park, Sloan’s Lake, Washington Park West

Denver Square Denver Square. Photo by Emily Minton Redfield.

As the 20th century got rolling, Foursquares (known locally as Denver Squares) were the hot home type: two stories and generous porches all contained in the form of a—you guessed it—square. This grand home style’s distinct rooms are the opposite of open-plan living, and that’s just how homeowners liked it.

Expert Intel: “One drawback of these homes is that they have a central staircase that tends to break up the floor plan,” Chirafisi says.

Where to Look: Baker, Capitol Hill, Cheesman Park, City Park West, City Park South, Five Points, Highland, Washington Park

Craftsman Bungalow Craftsman Bungalow. Photo by Emily Minton Redfield.

These charming odes to the Arts and Crafts movement flourished in Denver between 1900 and 1930 and are best known for their clapboard or brick exteriors, gable rooflines with exposed rafter tails, and wide porches perfect for whiling away an afternoon. Interior layouts are cozy as can be (read: often cramped).

Expert Intel: “Since they’re typically one-level [floor plans], there’s a bed and bath on the main floor, which can be a plus,” Chirafisi says. “The drawback is that some people think they’re dark because they have large overhanging roofs, which were done intentionally to create shade and keep living spaces cooler.”

Where to Look: City Park, Congress Park, Platt Park, West Highland, Washington Park

Tudor Revival Tudor Revival House. Photo courtesy of zsiteportal.

Hansel and Gretel would feel at home in a Tudor, thanks to the straight-out-of-a-fairytale decorative wood—called half-timbering—that adds interest to the brick, stucco, or stone facades. A coveted style in the 1920s, Tudors are also known for their hipped and gable roofs and decorated chimneys. Inside? Details galore, including arched doorways.

Expert Intel: “The upstairs is often not a true second floor, because the roofline is not dormered—so a tall person can stand in the middle of a room, but might hit his head on the ceiling if he moves four feet in either direction,” Walsh says. “Also, [Tudors] don’t have the open floor plan that many buyers these days are looking for.”

Where to Look: Belcaro, Bonnie Brae, Mayfair, Montclair, Park Hill, Washington Park

Mediterranean Revival Mediterranean Revival. Photo credit: TheWBBA

Silver Screen aficionados obsess over these tile-roofed gems, which call to mind the artful architectural wonders of Old Hollywood. Trendy in Colorado in the 1920s, the beauties are known to feature white stucco facades, low pitched gable roofs, and arcaded entry porches.

Expert Intel: “Mediterranean Revivals tend to be modest in size, around 1,200 square feet,” Walsh says. “Those tile roofs can be a pain to replace—the average replacement cost of a regular asphalt shingle roof is about $10,000-$20,000, and a tile roof is $35,000-$40,000, depending on whether you choose clay or concrete. However, tile roofs can last up to 100 years! So I guess, in the long run, the price evens out.”

Where to Look: South Park Hill and Sloan’s Lake

Midcentury Ranch Midcentury Ranch. Photo by Daniel O’Connor.

You can thank California for this oh-so-popular style. Single-story midcentury ranches have been beloved since the postwar boom for good reasons: stair-free ease of living, open floor plans, and—key for Denver—attached garages.

Expert Intel: “Midcentury-modern homes have flat or slightly slanted roofs, and as such have very little insulation between the ceiling and roof,” says Ron Buss, Realtor for Coldwell Banker. “They also tend to have larger, single-pane windows; unless they’ve been replaced, they can lose heat in the winter.”

Where to Look: Arapahoe Acres (Englewood), Arapaho Hills (Littleton), Bel Aire (Wheat Ridge), Bonnie Brae, Harvey Park, Hilltop, Krisana Park, Lynwood, Montclair, and South Dahlia Lane

Find Your Dream Home Style

Not quite sure which architectural style is for you? Check out our fun key to find your home-design soul mate.

You might like a Queen Anne Victorian if … Queen Elizabeth II is your favorite royal and your idea of bling is an Art Deco emerald-cut diamond ring.

You might like a Denver Square if … you imagine making conversation with Prince William while trimming your rose bushes (and picking a few to put inside).

You might like a Craftsman Bungalow if … your jaw drops at the sight of a Patek Philippe pocket watch on Antiques Roadshow and Seattle is your dream vacation destination.

You might like a Tudor Revival if … Kate Middleton is your favorite royal, you dream of a long trip to Cheshire, England, and your idea of comfortable seating is a tufted chaise.

You might like a Mediterranean Revival if … you prefer succulents over roses, recently booked a trip to Seville, Spain, and want an Alexander Calder mobile in your home.

You might like a Midcentury Modern if … you want to kick back in a Scandi recliner next to a shelf of succulents with Prince Harry and Megan for company.

Q&A: What’s the Deal with Historic Designations?

To suss out whether historic designations might be worth the work to a homeowner, we asked Tom Hart. The architect behind Hart Studio is also on the board of trustees at Historic Denver, a nonprofit, urban historic preservation organization whose first major win was saving the Molly Brown House from the wrecking ball in the 1970s.

Popular architect William Quayle designed the H.H. Thomas House in the 1870s. Photo courtesy of Historic Denver, Inc.

5280 Home: OK, tell us the truth. Is a historic designation a smart thing for a homeowner to apply for? Tom Hart: It’s certainly worth doing. Part of it is intangible: These old buildings are what make Denver Denver. Our neighborhoods each have a different character, and that’s why people like them. I don’t want to slam suburbs, but they all just look the same.

How old does a house have to be to qualify? The general rule of thumb in the historic-preservation community is 50 years, but some homes are younger.

Is there a financial upside? There are Colorado preservation tax credits you can get if a building is individually landmarked or part of a neighborhood that’s landmarked. You’ll be able to recoup 20 percent of any qualified renovation costs up to $50,000. There’s an application process with the Landmark Preservation Commission, which is part of Denver’s Community Planning and Development department. The forms can be daunting to the layperson; the proposed landmark needs to meet certain criteria regarding history, architecture, or geography. There are a couple of hearings, and it takes several months. A large percentage of the applications go through on the first try.

That doesn’t sound too bad. What’s the catch? Can I still paint my house Hermès orange? You can paint your house whatever color you want. You can gut the inside if you want to, too. [A historic designation] only affects the exterior architecture of the building. Things that need to be reviewed are roof modifications; window, roof, and door replacements; additions; changes to siding; retaining walls in landscaping; and solar panels. You’re allowed to add storm windows and security doors without approval, however.

Old Homes, But New

If you love the idea of an old house but could do without the creaking floors and miniature closets, hire these builders whose new homes look just like the historical homes we all know and love.

“My specialty back in the day was creating ‘revival new old houses,’ and some of what we’re doing today is part of that same recipe,” says John Mattingly, principal of this Denver architecture, design, and construction firm. Because people are drawn to older homes for their durability, he notes, his team’s designs emphasize time-tested architectural ideas, like thick interior walls and dropped beams and coffering. 720-473-5498, chaletcolorado.com

Prairie-style homes inspire the designs created by this Denver-based firm. “We put our modern touch on [historical styles] while still being timeless,” says principal Bryan Bozeman. One secret to an age-old vibe in new construction: reclaimed wood from barns and old houses and/or recycled antique brick for a touch of true history. 720-722-4040, stonecloudco.com

How to Maximize Your Search Online

Unfortunately, searching by architectural style on the MLS (Zillow, Redfin, and the like) might lead you astray. “On the MLS, Realtors are inputting the information, so it’s often inaccurate,” Cox says. So Chirafisi recommends plugging in the years when your dream home would have been built. “For example, you can search for the years 1890 to 1910 and get a lot of Victorians,” she says. And then, in this real estate market, hope that your dream home doesn’t get snapped up before you can make an offer.

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Solar & Storage Finance Conference Notes

Solar & Storage Finance Conference Notes

I attended the Solar & Storage Finance conference hosted in NYC in late October 2018.  Presenters included a mix of capital providers & asset managers, private non-profit entities & public agencies, legal, accounting & consulting firms, intermediaries, firms providing risk analysis, ratings & mitigation, & various vendors of energy storage and IT-related services.  The tone of the discussions was noteworthy for its near total absence of ideological comments about environmental urgency.   Rather, it was a meeting of finance technicians and technocrats focused on the nuts & bolts of accomplishing those ends, with the merits and relevance of mission assumed.

The conference issues were organized with public agency comments at the beginning about policy targets and accomplishments.  This set the stage for discussion panels to address the interests and appetites of Large Buyers, including both offtaker utilities and capital market asset buyers (institutional infrastructure portfolio managers as well as real estate asset holders).  This was followed by opportunities to showcase the concerns of tax equity investors and debt providers.   Interspersed were presentations and panels regarding risk mitigation, storage technologies, and storage financing concerns for both public & private sectors.  

Public Policy and Agency goals

The agency sector was represented by 3 public institutions, NYSERDA,  NY Power Authority (NYPA), & the NYC  Office of Sustainability & Resiliency;  2 utilities, ConEd (ED), and E.On (EOAN.DE),  and 5 private non-profits, ACORE, Solar Finance Council, Urban Land Institute, and NY-BEST (battery energy storage consortium).

NYSDERA’s CEO Alicia Barton as the keynote speaker affirmed a strong commitment to the State Renewable Energy Vision (REV) as the grand policy framework for transitioning from a “business as usual” carbon economy, citing a long series of goals and achievements.  The NY-Sun initiative was given a budget of $1B which is being administered by NYSDERA’s NY Green Bank, of which $450M has been deployed.  She noted that there were 4400 community solar projects in the pipeline, and 22 large scale projects that were announced this year.  1500 new storage projects were targeted by 2025 under the Storage Roadmap, which is part of the larger NYSolarMap project.

The Public Service Commission (PSC) has filed to allocate $350M in incentives, of which $40M will be placed through NY-Sun for solar+storage projects.  These incentives are projected to produce $2B in value from grid optimization.   She addressed questions about the sentiment from the development community that the PSC’s net metering successor tariff program, VDER, has quashed development by capitulating to utility concerns and shaving compensation for distributed generation, reducing incentives for private sector capital.  She responded that PSC white papers published 7/26/18 & 7/31/18 addressed these concerns, which she acknowledged were plaguing the public dialogue, but she expressed her feeling that the VDER plan is the right approach.   She closed by directing attention to the fact that electric generation constituted approximately only 25% of GHG emissions, that policy & development would need to address buildings and transportation.

The representative from NYC’s Sustainability Office Susanne Desroche, recited its development profile:  7GW of renewable generation installed in the 5 boroughs, 154MW solar & 67MW storage installed in NYC, goal of another 100MW by 2024, 40MW in the pipeline, for solar & storage.  She reported plans to replace 85% of peaker plants with 1000MW of storage by 2030.  Automated permitting is a major initiative in process.

FDNY is evaluating concerns about fire risk for indoor siting of batteries, but some outdoor sites for battery storage are being installed.  Targets for 2050 include 60% building electrification and 50 DC fast chargers, with 5 DCFC’s planned for 2019. When asked about plans for the MTA to accelerate its acquisition of electric buses and build out of bus charging infrastructure, she declined to comment on MTA timelines.   NYPA however noted that its EVolve NY  plan has committed $250M through 2025 for EV charging infrastructure including 200 DC Fast Chargers (150kW) along traffic corridors, airport charging hubs and EV model communities.

NYPA further commented that historically, it had accumulated 25% of the entire state’s generating portfolio, but was shifting its focus to distributed generation.

VDER – Value of Distributed Energy

Stephen Wemple from ConEd articulated the premise of VDER, the successor tariff to Net Energy Metering (NEM), identifying the main categories of the “Value Stack”.

The LBMP is indexed to the wholesale ISO market price, whereas the LSRV is value for avoided line development.   The Environmental value is priced on either REC prices  (as determined by NYSDERDA) or the social cost of carbon (as determined by RGGI).  An extended analysis was referenced in NYSolarMap analysis, which included excel modeling presentations by several large solar developers.

Daniel Spitzer, attorney from Hodgson Russ, presented a critical assessment of agency policies, in particular noting contradictions between declared goals and actual pacing in implementing the VDER framework for compensation for both solar and for storage development.  He noted that NY will not be able to achieve its goals of 50% renewables by 2030 (REV, RPS or NY-BEST Roadmap,) without faster adoption of storage.  $200M allocated at NY Green Bank for storage is not being committed quickly enough (which is at odds with NYSERDA’s statement that $450M had been deployed).    He noted that recent legislation in CA leading the promotion and adoption of storage, citing one bill that imposes a requirement that microgrids use batteries or other storage rather than nat gas generators, recommending NY should follow that course, which would catalyze more renewable microgrid development.  A 2nd CA bill directs utilities to implement 500MW of storage.   He also advocated called for more aggressive efforts for restraint on interconnection costs than provided in the solar+storage Map, noting that the PSC has taken steps to update the SIR (Standard Interconnection Requirements).

Storage Applications

Storage deployments in NY have trickled in as compared to the surge in renewable generation.  In part this is because grid integration of storage technology is still in an early stage, with 94% of 25.2GW of US storage capacity in pumped hydro, and all the tech innovation constituting only 6% of storage capacity.

Massive efforts will be needed to expand both capacity & grid integration.

The primary purpose of energy storage is energy arbitrage, ie., purchasing energy to charge batteries when prices are low due to surplus and discharging to sell when prices are high due to demand congestion, with the effect of providing load smoothing, at several levels within the grid architecture.

In addition to the compensation storage should receive for its contribution to the Value of Distributed Resources, it should also see revenue for these ancillary services.  Storage   provides “ancillary services” to the grid that are currently un- or under-compensated, including frequency regulation, voltage support, reserve capacity, load following & ramping.

The PSC is considering a “value stack” approach for storage as well as generation, to disaggregate the value streams and compensate each separately.   RMI identified 13 services that storage can provide, to 3 stakeholder groups.

Determining the cashflow for a solar+storage project from VDER rules involves a complicated comparison between structuring and pricing regimes, which can create confusion when presenting a proposal for financing. Because storage can potentially participate in both state-regulated retail markets and FERC-regulated wholesale markets,  storage pricing models have to ensure not only adequate compensation but must also avoid double compensation for any segregated value stream.

Spitzer advocated for expansion of incentives & subsidies in the VDER compensation model, in addition to the Transition benefits currently supporting VDER pricing.  He also made reference to a supplemental subsidy for storage, a “market acceleration bridge incentive” (MAI), a proposal within the Roadmap that calls for $350M to be drawn from the State’s Clean Energy Fund.  Solutions to this were briefly touched upon, including a proposed subsidy under the State storage Roadmap plan to offset soft-costs, a mechanism to ensure storage is sold in 10-20yr contract increments, a state run central procurement agency for storage, and support for specific market applications, ie, for schools to offset seasonal shifts, and replacement of peaker plants.

Institutional investors

Institutional investors are potentially the largest source of capital but currently the smallest by total assets under management, so it is an industry priority to find the means to unlock access to those large pools of funds that require very low risk assets & can tolerate relatively low returns.  Institutional entities represented in the panels, included 2 insurance companies, 2 banks, 1 investment bank, 3 commercial REITs, several institutionally funded alternative funds, & several entities engaged in securitization of projects into Asset Backed Securities (ABS) that are placed with institutional investors, including 2 securities brokers, an asset manager & a major developer with a deep balance sheet. Public policy is a factor in incentivizing private sector involvement, as to federal tax incentives, state structural goals such as Renewable Portfolio Standards, property tax, carbon credits, support for valuation of storage assets, and portfolio guidelines limiting category and percentage of alt assets.

The rep for insurance company John Hancock sat on a panel discussing investor appetites for PV & storage with fund managers from Wafra Alternative Investments, C2 Energy Capital  & Clean Capital.

Only 40 deals were with institutional participants, constituting .5% of transactions, in part because, as one panel member observed, there are easier ways to bet on 15-year assets than investing in power contracts, due to numerous uncertainties, in costs, O&M risks, performance both during the contracted period and after the end of the PPA, in the merchant period.   Clean Capital has partnered with John Hancock (subsidiary of Manulife (MFC)), and with Blackrock on large portfolio acquisitions.

Tax Equity

The reps for AON Insurance (AON) and Royal Bank of Canada (RY) participated in a panel discussion about tax equity investments.  Jonathan Silver of Tax Equity Advisors noted that pension funds, cash equity funds and insurance funds are increasing their participation in general, but also other non-institutional corporations are taking large positions in renewables via tax equity.   Gary Blitz of AON focused his comments on coverage indemnifying narrow risks for tax equity partners against reversal judgments in IRS challenges, stating that insurance revenue for this line is up 2x yoy since ’17, similar to the services offered by the Surety carriers. Tax credit recapture risk can be triggered by foreclosure, which can mean that lenders concerned with loan default risk have interests at odds with tax equity investors.

RBC stated that they place funds from 80 institutional investors into their syndications of low income housing, who have been increasing their participation in renewable assets primarily to increase diversification, but since the tax reform are finding fewer tax equity opportunities.    Tax advisor and syndications expert Joel Cohn of CohnReznick Capital noted that tax flips use GAAP rules primarily but also require use of “Hypothetical Linked Book Value” (HLBV) accounting rules.  Other complicated factors discussed included Base Erosion Anti-abuse Tax (BEAT) rules, 5% Safe Harbor rules, and Opportunity Zone rules for pre-tax deferrals out to 2026.    This discussion ended noting that it is generally simpler to employ back-leverage structures to avoid the default risk, and in some cases avoid transacting with tax partners.

Another panel that included M&T Bank (MTB), Investec Holdings (South African fund) & FTI consulting (which also operates a mid-market investment bank) continued discussion of the relative merits of back-levered debt, in which a project sponsor finances its equity contribution with   Back-leverage is increasingly prevalent, in part because lenders prefer less dependence on tax equity, like to see more profit distribution to Sponsors, and because tax equity participants are ramping down on long tail risk.   Revenue stacking models were discussed, that involve layering on capacity and ancillary services, to the extent that projects include front-of-the-meter storage.   The head of Investec for No. America commented that simpler revenue models were favored.  He pointed an earlier era in tech financing when cash flow for startups were subsidized by relationship banks backed up by entities with deep balance sheets that were able to carry the risks and negative cash flows until the developing firms were able to build “economic velocity”, suggesting something similar will need to happen with renewables.

Securitization was addressed by a panel moderated by Mike Mendelsohn from the Solar Finance Council,  which offers a bond securitization rating portal, & includes on its advisory board kWh Analytics and CleanCapital.  Panelists included a rep from asset manager Guggenheim Partners ($209B AUM) and  brokerage firm Cantor Fitzgerald, Ron Borod from asset manager Ram Island Strategies, & Thomas Plageman from Vivint Solar Capital Markets (VSLR), a major developer with a deep balance sheet that has one of the largest financings listed by the NY Green Bank.   Vivint reported it had completed $466M in ABS deals & 2 debt deals on the 144a market both levered and back levered, some that included a 2nd layer of tax equity.  Their ABS securities were rated BBB on Quantum, with interest rates at L+ 1.75 rather than L+2.25, advance rate of 73-85%, and buyers were insurance companies taking 18yr dated PPA’s.  Critical mass for these portfolios were 25-30,000 customers, which equated to $100M-$200M in asset scale.   Ram Island noted its lease PPA portfolios were almost all residential, noted that the minimum levels of critical mass to be able to do the statistical underwriting was threshold of 15-20MW.  It preferred using back-leverage to avoid IRS challenges of ITC basis, and to avoid the competition contractually for cashflow between debt holders and equity holders.   Guggenheim also indicated a preference for debt rather than the complexities of managing inter-creditor relationships, and the upfront costs for legal & rating agencies in setting up ABS’s.   He agreed critical mass to achieve the statistical granularity for rating purposes was $100M, preferably composed of similar asset class, with investment grade C&I offtaker.  Storage, interestingly, was considered by all three to be a benefit to the project cashflow stability and the ABS, as a hedge for changes in net metering rules.

Real Estate

The real estate asset holders funding renewable developments appeared on their own panel, moderated by the non-profit Urban Land Institute.  Panelists included Vornado Realty Trust (VNO), a publicly traded REIT with marquis high rise properties, largest owner of LEED-certified property in the US, DWS Group, (formerly Deutschbank) with a $50B real estate portfolio, & L&M Development Partners a non-profit builder of low income housing..

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Solar & Storage Finance Conference Notes

Solar & Storage Finance Conference Notes

I attended the Solar & Storage Finance conference hosted in NYC in late October 2018.  Presenters included a mix of capital providers & asset managers, private non-profit entities & public agencies, legal, accounting & consulting firms, intermediaries, firms providing risk analysis, ratings & mitigation, & various vendors of energy storage and IT-related services.  The tone of the discussions was noteworthy for its near total absence of ideological comments about environmental urgency.   Rather, it was a meeting of finance technicians and technocrats focused on the nuts & bolts of accomplishing those ends, with the merits and relevance of mission assumed.

The conference issues were organized with public agency comments at the beginning about policy targets and accomplishments.  This set the stage for discussion panels to address the interests and appetites of Large Buyers, including both offtaker utilities and capital market asset buyers (institutional infrastructure portfolio managers as well as real estate asset holders).  This was followed by opportunities to showcase the concerns of tax equity investors and debt providers.   Interspersed were presentations and panels regarding risk mitigation, storage technologies, and storage financing concerns for both public & private sectors.  

Public Policy and Agency goals

The agency sector was represented by 3 public institutions, NYSERDA,  NY Power Authority (NYPA), & the NYC  Office of Sustainability & Resiliency;  2 utilities, ConEd (ED), and E.On (EOAN.DE),  and 5 private non-profits, ACORE, Solar Finance Council, Urban Land Institute, and NY-BEST (battery energy storage consortium).

NYSDERA’s CEO Alicia Barton as the keynote speaker affirmed a strong commitment to the State Renewable Energy Vision (REV) as the grand policy framework for transitioning from a “business as usual” carbon economy, citing a long series of goals and achievements.  The NY-Sun initiative was given a budget of $1B which is being administered by NYSDERA’s NY Green Bank, of which $450M has been deployed.  She noted that there were 4400 community solar projects in the pipeline, and 22 large scale projects that were announced this year.  1500 new storage projects were targeted by 2025 under the Storage Roadmap, which is part of the larger NYSolarMap project.

The Public Service Commission (PSC) has filed to allocate $350M in incentives, of which $40M will be placed through NY-Sun for solar+storage projects.  These incentives are projected to produce $2B in value from grid optimization.   She addressed questions about the sentiment from the development community that the PSC’s net metering successor tariff program, VDER, has quashed development by capitulating to utility concerns and shaving compensation for distributed generation, reducing incentives for private sector capital.  She responded that PSC white papers published 7/26/18 & 7/31/18 addressed these concerns, which she acknowledged were plaguing the public dialogue, but she expressed her feeling that the VDER plan is the right approach.   She closed by directing attention to the fact that electric generation constituted approximately only 25% of GHG emissions, that policy & development would need to address buildings and transportation.

The representative from NYC’s Sustainability Office Susanne Desroche, recited its development profile:  7GW of renewable generation installed in the 5 boroughs, 154MW solar & 67MW storage installed in NYC, goal of another 100MW by 2024, 40MW in the pipeline, for solar & storage.  She reported plans to replace 85% of peaker plants with 1000MW of storage by 2030.  Automated permitting is a major initiative in process.

FDNY is evaluating concerns about fire risk for indoor siting of batteries, but some outdoor sites for battery storage are being installed.  Targets for 2050 include 60% building electrification and 50 DC fast chargers, with 5 DCFC’s planned for 2019. When asked about plans for the MTA to accelerate its acquisition of electric buses and build out of bus charging infrastructure, she declined to comment on MTA timelines.   NYPA however noted that its EVolve NY  plan has committed $250M through 2025 for EV charging infrastructure including 200 DC Fast Chargers (150kW) along traffic corridors, airport charging hubs and EV model communities.

NYPA further commented that historically, it had accumulated 25% of the entire state’s generating portfolio, but was shifting its focus to distributed generation.

VDER – Value of Distributed Energy

Stephen Wemple from ConEd articulated the premise of VDER, the successor tariff to Net Energy Metering (NEM), identifying the main categories of the “Value Stack”.

The LBMP is indexed to the wholesale ISO market price, whereas the LSRV is value for avoided line development.   The Environmental value is priced on either REC prices  (as determined by NYSDERDA) or the social cost of carbon (as determined by RGGI).  An extended analysis was referenced in NYSolarMap analysis, which included excel modeling presentations by several large solar developers.

Daniel Spitzer, attorney from Hodgson Russ, presented a critical assessment of agency policies, in particular noting contradictions between declared goals and actual pacing in implementing the VDER framework for compensation for both solar and for storage development.  He noted that NY will not be able to achieve its goals of 50% renewables by 2030 (REV, RPS or NY-BEST Roadmap,) without faster adoption of storage.  $200M allocated at NY Green Bank for storage is not being committed quickly enough (which is at odds with NYSERDA’s statement that $450M had been deployed).    He noted that recent legislation in CA leading the promotion and adoption of storage, citing one bill that imposes a requirement that microgrids use batteries or other storage rather than nat gas generators, recommending NY should follow that course, which would catalyze more renewable microgrid development.  A 2nd CA bill directs utilities to implement 500MW of storage.   He also advocated called for more aggressive efforts for restraint on interconnection costs than provided in the solar+storage Map, noting that the PSC has taken steps to update the SIR (Standard Interconnection Requirements).

Storage Applications

Storage deployments in NY have trickled in as compared to the surge in renewable generation.  In part this is because grid integration of storage technology is still in an early stage, with 94% of 25.2GW of US storage capacity in pumped hydro, and all the tech innovation constituting only 6% of storage capacity.

Massive efforts will be needed to expand both capacity & grid integration.

The primary purpose of energy storage is energy arbitrage, ie., purchasing energy to charge batteries when prices are low due to surplus and discharging to sell when prices are high due to demand congestion, with the effect of providing load smoothing, at several levels within the grid architecture.

In addition to the compensation storage should receive for its contribution to the Value of Distributed Resources, it should also see revenue for these ancillary services.  Storage   provides “ancillary services” to the grid that are currently un- or under-compensated, including frequency regulation, voltage support, reserve capacity, load following & ramping.

The PSC is considering a “value stack” approach for storage as well as generation, to disaggregate the value streams and compensate each separately.   RMI identified 13 services that storage can provide, to 3 stakeholder groups.

Determining the cashflow for a solar+storage project from VDER rules involves a complicated comparison between structuring and pricing regimes, which can create confusion when presenting a proposal for financing. Because storage can potentially participate in both state-regulated retail markets and FERC-regulated wholesale markets,  storage pricing models have to ensure not only adequate compensation but must also avoid double compensation for any segregated value stream.

Spitzer advocated for expansion of incentives & subsidies in the VDER compensation model, in addition to the Transition benefits currently supporting VDER pricing.  He also made reference to a supplemental subsidy for storage, a “market acceleration bridge incentive” (MAI), a proposal within the Roadmap that calls for $350M to be drawn from the State’s Clean Energy Fund.  Solutions to this were briefly touched upon, including a proposed subsidy under the State storage Roadmap plan to offset soft-costs, a mechanism to ensure storage is sold in 10-20yr contract increments, a state run central procurement agency for storage, and support for specific market applications, ie, for schools to offset seasonal shifts, and replacement of peaker plants.

Institutional investors

Institutional investors are potentially the largest source of capital but currently the smallest by total assets under management, so it is an industry priority to find the means to unlock access to those large pools of funds that require very low risk assets & can tolerate relatively low returns.  Institutional entities represented in the panels, included 2 insurance companies, 2 banks, 1 investment bank, 3 commercial REITs, several institutionally funded alternative funds, & several entities engaged in securitization of projects into Asset Backed Securities (ABS) that are placed with institutional investors, including 2 securities brokers, an asset manager & a major developer with a deep balance sheet. Public policy is a factor in incentivizing private sector involvement, as to federal tax incentives, state structural goals such as Renewable Portfolio Standards, property tax, carbon credits, support for valuation of storage assets, and portfolio guidelines limiting category and percentage of alt assets.

The rep for insurance company John Hancock sat on a panel discussing investor appetites for PV & storage with fund managers from Wafra Alternative Investments, C2 Energy Capital  & Clean Capital.

Only 40 deals were with institutional participants, constituting .5% of transactions, in part because, as one panel member observed, there are easier ways to bet on 15-year assets than investing in power contracts, due to numerous uncertainties, in costs, O&M risks, performance both during the contracted period and after the end of the PPA, in the merchant period.   Clean Capital has partnered with John Hancock (subsidiary of Manulife (MFC)), and with Blackrock on large portfolio acquisitions.

Tax Equity

The reps for AON Insurance (AON) and Royal Bank of Canada (RY) participated in a panel discussion about tax equity investments.  Jonathan Silver of Tax Equity Advisors noted that pension funds, cash equity funds and insurance funds are increasing their participation in general, but also other non-institutional corporations are taking large positions in renewables via tax equity.   Gary Blitz of AON focused his comments on coverage indemnifying narrow risks for tax equity partners against reversal judgments in IRS challenges, stating that insurance revenue for this line is up 2x yoy since ’17, similar to the services offered by the Surety carriers. Tax credit recapture risk can be triggered by foreclosure, which can mean that lenders concerned with loan default risk have interests at odds with tax equity investors.

RBC stated that they place funds from 80 institutional investors into their syndications of low income housing, who have been increasing their participation in renewable assets primarily to increase diversification, but since the tax reform are finding fewer tax equity opportunities.    Tax advisor and syndications expert Joel Cohn of CohnReznick Capital noted that tax flips use GAAP rules primarily but also require use of “Hypothetical Linked Book Value” (HLBV) accounting rules.  Other complicated factors discussed included Base Erosion Anti-abuse Tax (BEAT) rules, 5% Safe Harbor rules, and Opportunity Zone rules for pre-tax deferrals out to 2026.    This discussion ended noting that it is generally simpler to employ back-leverage structures to avoid the default risk, and in some cases avoid transacting with tax partners.

Another panel that included M&T Bank (MTB), Investec Holdings (South African fund) & FTI consulting (which also operates a mid-market investment bank) continued discussion of the relative merits of back-levered debt, in which a project sponsor finances its equity contribution with   Back-leverage is increasingly prevalent, in part because lenders prefer less dependence on tax equity, like to see more profit distribution to Sponsors, and because tax equity participants are ramping down on long tail risk.   Revenue stacking models were discussed, that involve layering on capacity and ancillary services, to the extent that projects include front-of-the-meter storage.   The head of Investec for No. America commented that simpler revenue models were favored.  He pointed an earlier era in tech financing when cash flow for startups were subsidized by relationship banks backed up by entities with deep balance sheets that were able to carry the risks and negative cash flows until the developing firms were able to build “economic velocity”, suggesting something similar will need to happen with renewables.

Securitization was addressed by a panel moderated by Mike Mendelsohn from the Solar Finance Council,  which offers a bond securitization rating portal, & includes on its advisory board kWh Analytics and CleanCapital.  Panelists included a rep from asset manager Guggenheim Partners ($209B AUM) and  brokerage firm Cantor Fitzgerald, Ron Borod from asset manager Ram Island Strategies, & Thomas Plageman from Vivint Solar Capital Markets (VSLR), a major developer with a deep balance sheet that has one of the largest financings listed by the NY Green Bank.   Vivint reported it had completed $466M in ABS deals & 2 debt deals on the 144a market both levered and back levered, some that included a 2nd layer of tax equity.  Their ABS securities were rated BBB on Quantum, with interest rates at L+ 1.75 rather than L+2.25, advance rate of 73-85%, and buyers were insurance companies taking 18yr dated PPA’s.  Critical mass for these portfolios were 25-30,000 customers, which equated to $100M-$200M in asset scale.   Ram Island noted its lease PPA portfolios were almost all residential, noted that the minimum levels of critical mass to be able to do the statistical underwriting was threshold of 15-20MW.  It preferred using back-leverage to avoid IRS challenges of ITC basis, and to avoid the competition contractually for cashflow between debt holders and equity holders.   Guggenheim also indicated a preference for debt rather than the complexities of managing inter-creditor relationships, and the upfront costs for legal & rating agencies in setting up ABS’s.   He agreed critical mass to achieve the statistical granularity for rating purposes was $100M, preferably composed of similar asset class, with investment grade C&I offtaker.  Storage, interestingly, was considered by all three to be a benefit to the project cashflow stability and the ABS, as a hedge for changes in net metering rules.

Real Estate

The real estate asset holders funding renewable developments appeared on their own panel, moderated by the non-profit Urban Land Institute.  Panelists included Vornado Realty Trust (VNO), a publicly traded REIT with marquis high rise properties, largest owner of LEED-certified property in the US, DWS Group, (formerly Deutschbank) with a $50B real estate portfolio, & L&M Development Partners a non-profit builder of low income housing..

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[natalieweber221]

Solar & Storage Finance Conference Notes

Solar & Storage Finance Conference Notes

I attended the Solar & Storage Finance conference hosted in NYC in late October 2018.  Presenters included a mix of capital providers & asset managers, private non-profit entities & public agencies, legal, accounting & consulting firms, intermediaries, firms providing risk analysis, ratings & mitigation, & various vendors of energy storage and IT-related services.  The tone of the discussions was noteworthy for its near total absence of ideological comments about environmental urgency.   Rather, it was a meeting of finance technicians and technocrats focused on the nuts & bolts of accomplishing those ends, with the merits and relevance of mission assumed.

The conference issues were organized with public agency comments at the beginning about policy targets and accomplishments.  This set the stage for discussion panels to address the interests and appetites of Large Buyers, including both offtaker utilities and capital market asset buyers (institutional infrastructure portfolio managers as well as real estate asset holders).  This was followed by opportunities to showcase the concerns of tax equity investors and debt providers.   Interspersed were presentations and panels regarding risk mitigation, storage technologies, and storage financing concerns for both public & private sectors.  

Public Policy and Agency goals

The agency sector was represented by 3 public institutions, NYSERDA,  NY Power Authority (NYPA), & the NYC  Office of Sustainability & Resiliency;  2 utilities, ConEd (ED), and E.On (EOAN.DE),  and 5 private non-profits, ACORE, Solar Finance Council, Urban Land Institute, and NY-BEST (battery energy storage consortium).

NYSDERA’s CEO Alicia Barton as the keynote speaker affirmed a strong commitment to the State Renewable Energy Vision (REV) as the grand policy framework for transitioning from a “business as usual” carbon economy, citing a long series of goals and achievements.  The NY-Sun initiative was given a budget of $1B which is being administered by NYSDERA’s NY Green Bank, of which $450M has been deployed.  She noted that there were 4400 community solar projects in the pipeline, and 22 large scale projects that were announced this year.  1500 new storage projects were targeted by 2025 under the Storage Roadmap, which is part of the larger NYSolarMap project.

The Public Service Commission (PSC) has filed to allocate $350M in incentives, of which $40M will be placed through NY-Sun for solar+storage projects.  These incentives are projected to produce $2B in value from grid optimization.   She addressed questions about the sentiment from the development community that the PSC’s net metering successor tariff program, VDER, has quashed development by capitulating to utility concerns and shaving compensation for distributed generation, reducing incentives for private sector capital.  She responded that PSC white papers published 7/26/18 & 7/31/18 addressed these concerns, which she acknowledged were plaguing the public dialogue, but she expressed her feeling that the VDER plan is the right approach.   She closed by directing attention to the fact that electric generation constituted approximately only 25% of GHG emissions, that policy & development would need to address buildings and transportation.

The representative from NYC’s Sustainability Office Susanne Desroche, recited its development profile:  7GW of renewable generation installed in the 5 boroughs, 154MW solar & 67MW storage installed in NYC, goal of another 100MW by 2024, 40MW in the pipeline, for solar & storage.  She reported plans to replace 85% of peaker plants with 1000MW of storage by 2030.  Automated permitting is a major initiative in process.

FDNY is evaluating concerns about fire risk for indoor siting of batteries, but some outdoor sites for battery storage are being installed.  Targets for 2050 include 60% building electrification and 50 DC fast chargers, with 5 DCFC’s planned for 2019. When asked about plans for the MTA to accelerate its acquisition of electric buses and build out of bus charging infrastructure, she declined to comment on MTA timelines.   NYPA however noted that its EVolve NY  plan has committed $250M through 2025 for EV charging infrastructure including 200 DC Fast Chargers (150kW) along traffic corridors, airport charging hubs and EV model communities.

NYPA further commented that historically, it had accumulated 25% of the entire state’s generating portfolio, but was shifting its focus to distributed generation.

VDER – Value of Distributed Energy

Stephen Wemple from ConEd articulated the premise of VDER, the successor tariff to Net Energy Metering (NEM), identifying the main categories of the “Value Stack”.

The LBMP is indexed to the wholesale ISO market price, whereas the LSRV is value for avoided line development.   The Environmental value is priced on either REC prices  (as determined by NYSDERDA) or the social cost of carbon (as determined by RGGI).  An extended analysis was referenced in NYSolarMap analysis, which included excel modeling presentations by several large solar developers.

Daniel Spitzer, attorney from Hodgson Russ, presented a critical assessment of agency policies, in particular noting contradictions between declared goals and actual pacing in implementing the VDER framework for compensation for both solar and for storage development.  He noted that NY will not be able to achieve its goals of 50% renewables by 2030 (REV, RPS or NY-BEST Roadmap,) without faster adoption of storage.  $200M allocated at NY Green Bank for storage is not being committed quickly enough (which is at odds with NYSERDA’s statement that $450M had been deployed).    He noted that recent legislation in CA leading the promotion and adoption of storage, citing one bill that imposes a requirement that microgrids use batteries or other storage rather than nat gas generators, recommending NY should follow that course, which would catalyze more renewable microgrid development.  A 2nd CA bill directs utilities to implement 500MW of storage.   He also advocated called for more aggressive efforts for restraint on interconnection costs than provided in the solar+storage Map, noting that the PSC has taken steps to update the SIR (Standard Interconnection Requirements).

Storage Applications

Storage deployments in NY have trickled in as compared to the surge in renewable generation.  In part this is because grid integration of storage technology is still in an early stage, with 94% of 25.2GW of US storage capacity in pumped hydro, and all the tech innovation constituting only 6% of storage capacity.

Massive efforts will be needed to expand both capacity & grid integration.

The primary purpose of energy storage is energy arbitrage, ie., purchasing energy to charge batteries when prices are low due to surplus and discharging to sell when prices are high due to demand congestion, with the effect of providing load smoothing, at several levels within the grid architecture.

In addition to the compensation storage should receive for its contribution to the Value of Distributed Resources, it should also see revenue for these ancillary services.  Storage   provides “ancillary services” to the grid that are currently un- or under-compensated, including frequency regulation, voltage support, reserve capacity, load following & ramping.

The PSC is considering a “value stack” approach for storage as well as generation, to disaggregate the value streams and compensate each separately.   RMI identified 13 services that storage can provide, to 3 stakeholder groups.

Determining the cashflow for a solar+storage project from VDER rules involves a complicated comparison between structuring and pricing regimes, which can create confusion when presenting a proposal for financing. Because storage can potentially participate in both state-regulated retail markets and FERC-regulated wholesale markets,  storage pricing models have to ensure not only adequate compensation but must also avoid double compensation for any segregated value stream.

Spitzer advocated for expansion of incentives & subsidies in the VDER compensation model, in addition to the Transition benefits currently supporting VDER pricing.  He also made reference to a supplemental subsidy for storage, a “market acceleration bridge incentive” (MAI), a proposal within the Roadmap that calls for $350M to be drawn from the State’s Clean Energy Fund.  Solutions to this were briefly touched upon, including a proposed subsidy under the State storage Roadmap plan to offset soft-costs, a mechanism to ensure storage is sold in 10-20yr contract increments, a state run central procurement agency for storage, and support for specific market applications, ie, for schools to offset seasonal shifts, and replacement of peaker plants.

Institutional investors

Institutional investors are potentially the largest source of capital but currently the smallest by total assets under management, so it is an industry priority to find the means to unlock access to those large pools of funds that require very low risk assets & can tolerate relatively low returns.  Institutional entities represented in the panels, included 2 insurance companies, 2 banks, 1 investment bank, 3 commercial REITs, several institutionally funded alternative funds, & several entities engaged in securitization of projects into Asset Backed Securities (ABS) that are placed with institutional investors, including 2 securities brokers, an asset manager & a major developer with a deep balance sheet. Public policy is a factor in incentivizing private sector involvement, as to federal tax incentives, state structural goals such as Renewable Portfolio Standards, property tax, carbon credits, support for valuation of storage assets, and portfolio guidelines limiting category and percentage of alt assets.

The rep for insurance company John Hancock sat on a panel discussing investor appetites for PV & storage with fund managers from Wafra Alternative Investments, C2 Energy Capital  & Clean Capital.

Only 40 deals were with institutional participants, constituting .5% of transactions, in part because, as one panel member observed, there are easier ways to bet on 15-year assets than investing in power contracts, due to numerous uncertainties, in costs, O&M risks, performance both during the contracted period and after the end of the PPA, in the merchant period.   Clean Capital has partnered with John Hancock (subsidiary of Manulife (MFC)), and with Blackrock on large portfolio acquisitions.

Tax Equity

The reps for AON Insurance (AON) and Royal Bank of Canada (RY) participated in a panel discussion about tax equity investments.  Jonathan Silver of Tax Equity Advisors noted that pension funds, cash equity funds and insurance funds are increasing their participation in general, but also other non-institutional corporations are taking large positions in renewables via tax equity.   Gary Blitz of AON focused his comments on coverage indemnifying narrow risks for tax equity partners against reversal judgments in IRS challenges, stating that insurance revenue for this line is up 2x yoy since ’17, similar to the services offered by the Surety carriers. Tax credit recapture risk can be triggered by foreclosure, which can mean that lenders concerned with loan default risk have interests at odds with tax equity investors.

RBC stated that they place funds from 80 institutional investors into their syndications of low income housing, who have been increasing their participation in renewable assets primarily to increase diversification, but since the tax reform are finding fewer tax equity opportunities.    Tax advisor and syndications expert Joel Cohn of CohnReznick Capital noted that tax flips use GAAP rules primarily but also require use of “Hypothetical Linked Book Value” (HLBV) accounting rules.  Other complicated factors discussed included Base Erosion Anti-abuse Tax (BEAT) rules, 5% Safe Harbor rules, and Opportunity Zone rules for pre-tax deferrals out to 2026.    This discussion ended noting that it is generally simpler to employ back-leverage structures to avoid the default risk, and in some cases avoid transacting with tax partners.

Another panel that included M&T Bank (MTB), Investec Holdings (South African fund) & FTI consulting (which also operates a mid-market investment bank) continued discussion of the relative merits of back-levered debt, in which a project sponsor finances its equity contribution with   Back-leverage is increasingly prevalent, in part because lenders prefer less dependence on tax equity, like to see more profit distribution to Sponsors, and because tax equity participants are ramping down on long tail risk.   Revenue stacking models were discussed, that involve layering on capacity and ancillary services, to the extent that projects include front-of-the-meter storage.   The head of Investec for No. America commented that simpler revenue models were favored.  He pointed an earlier era in tech financing when cash flow for startups were subsidized by relationship banks backed up by entities with deep balance sheets that were able to carry the risks and negative cash flows until the developing firms were able to build “economic velocity”, suggesting something similar will need to happen with renewables.

Securitization was addressed by a panel moderated by Mike Mendelsohn from the Solar Finance Council,  which offers a bond securitization rating portal, & includes on its advisory board kWh Analytics and CleanCapital.  Panelists included a rep from asset manager Guggenheim Partners ($209B AUM) and  brokerage firm Cantor Fitzgerald, Ron Borod from asset manager Ram Island Strategies, & Thomas Plageman from Vivint Solar Capital Markets (VSLR), a major developer with a deep balance sheet that has one of the largest financings listed by the NY Green Bank.   Vivint reported it had completed $466M in ABS deals & 2 debt deals on the 144a market both levered and back levered, some that included a 2nd layer of tax equity.  Their ABS securities were rated BBB on Quantum, with interest rates at L+ 1.75 rather than L+2.25, advance rate of 73-85%, and buyers were insurance companies taking 18yr dated PPA’s.  Critical mass for these portfolios were 25-30,000 customers, which equated to $100M-$200M in asset scale.   Ram Island noted its lease PPA portfolios were almost all residential, noted that the minimum levels of critical mass to be able to do the statistical underwriting was threshold of 15-20MW.  It preferred using back-leverage to avoid IRS challenges of ITC basis, and to avoid the competition contractually for cashflow between debt holders and equity holders.   Guggenheim also indicated a preference for debt rather than the complexities of managing inter-creditor relationships, and the upfront costs for legal & rating agencies in setting up ABS’s.   He agreed critical mass to achieve the statistical granularity for rating purposes was $100M, preferably composed of similar asset class, with investment grade C&I offtaker.  Storage, interestingly, was considered by all three to be a benefit to the project cashflow stability and the ABS, as a hedge for changes in net metering rules.

Real Estate

The real estate asset holders funding renewable developments appeared on their own panel, moderated by the non-profit Urban Land Institute.  Panelists included Vornado Realty Trust (VNO), a publicly traded REIT with marquis high rise properties, largest owner of LEED-certified property in the US, DWS Group, (formerly Deutschbank) with a $50B real estate portfolio, & L&M Development Partners a non-profit builder of low income housing..

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