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Nevertheless, in 2007, the Blackstone Group bought Mr. Zells firm then known as Equity Office Properties Trust for $39 billion. His own fortune was estimated at nearly $5 billion, and with holdings in residential properties, drug and department stores, and energy and electronics companies a lifetime of acquisitions that made him one of the nations wealthiest men he might have retired comfortably in his mid-60s.

But seeing yet another inefficient market, he plunged into the unfamiliar world of newspapers, winning a bidding war for one of the nations premier media companies, the 160-year-old Tribune empire. Besides the Chicago and Los Angeles newspapers, it included The Baltimore Sun, Newsday, The Hartford Courant, 23 television and radio stations, the Chicago Cubs and Wrigley Field.

Like many newspapers, the Tribune properties were hemorrhaging advertising revenues and readers to the internet. The company had been on the auction block for months when Mr. Zell insisting that his interests were purely economic, not editorial offered $34 a share in a complex transaction to take the company private under an employee stock-ownership plan.

He acquired control in December 2007 in an $8.2 billion deal whose financing required him to put up only $315 million, but that saddled the employee-owners with more than $13 billion in debt, including $5 billion in existing Tribune obligations. In that highly leveraged buyout, the debt was to be paid off almost entirely by cash generated by the companys continuing operations.

The new corporation was exempt from federal income taxes, and the debt was reduced by the sale of Newsday, the Cubs and Wrigley Field. But employees, who had no say in the deal, assumed a crushing burden and stood to gain only if the company survived, while Mr. Zell, for a relatively modest investment, became chairman and secured an option to buy 40 percent of the company for $500 million if it prospered.

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Sam Zell, 81, Tycoon Whose Big Newspaper Venture Went Bust, Dies - The New York Times

SAN DIEGO, CA -- The future USS Canberra (LCS 30) will join the U.S. Navy active fleet on July 22 with the U.S. Navys first international commissioning ceremony at the Royal Australian Navy Fleet Base East in Sydney, Australia.

Canberra is the first U.S. Navy warship to be commissioned in an allied country. It is the second U.S. Navy ship to bear the namesake of Canberra.

I can think of no better way to signify our enduring partnership with Australia than celebrating the newest U.S. Navy warship named for Australias capital city, and commissioning her in Royal Australian Navy Fleet Base East surrounded by many of the Australian ships we have worked alongside for years, said Secretary of the Navy Carlos Del Toro. I look forward to this momentous day for the ship, crew, sponsor, and all our partners in government and industry who worked tirelessly to give the future USS Canberra the celebration it deserves.

Australian Chief of Navy, Vice Adm. Mark Hammond said this historic event encapsulates both the depth of the historical ties, and modern day partnership between the Royal Australian Navy and the U.S. Navy.

This is a unique demonstration of respect by the U.S. for the Officers and Sailors of the Royal Australian Navy, said Hammond. It is an opportunity to reflect on our shared history, and on a friendship forged while fighting side-by-side. On August 9, 1942 the RAN heavy cruiser HMAS Canberra was severely damaged off Guadalcanal (Solomon Islands) while protecting the U.S. Marines fighting ashore. In a surprise attack by a powerful Japanese naval force, Canberra was hit 24 times in less than two minutes and 84 of her crew were killed including Captain Frank Getting

I look forward to welcoming the U.S. Navy, and the crew of USS Canberra to Australia and we are honored to host the U.S. Navys first international commissioning. It will be a historical event to see the USS Canberra and HMAS Canberra alongside each other in Sydney. As we look to the future, the strength of our partnership remains a cornerstone of a secure, stable, free and open Indo-Pacific Region.

The first USS Canberra (CA-70/CAG-2) was named at the direction of President Franklin D. Roosevelt in honor of the Australian heavy cruiser HMAS Canberra for the ships courageous actions during the Battle of Savo Island that took place Aug. 7-9, 1942. The new Baltimore-class heavy cruiser was renamed Canberra from Pittsburgh on Oct. 16, 1942, and was commissioned on Oct. 14, 1943.

Canberra will soon begin the transit for the Navys first international ship commissioning making stops along the transit in Indo-Pacific nations prior to its arrival in Sydney for commissioning.

A visit to the Australian capital city of Canberra is planned the day after commissioning, continuing the U.S. Navy tradition of building a strong relationship with namesake communities.

The ships sponsor is Australian Senator, the Honourable Marise Payne, the former Australian Minister of Foreign Affairs who attended the ships keel laying ceremony in Mobile, Ala. in 2020. The ship was christened June 5, 2021, by Alison Petchell, the Australian Governments Defence Assistant Secretary for Industrial Capability Planning in the Nuclear Submarines Taskforce and former Minister Counsellor for Defense Materiel, on behalf of Senator Payne. The ship arrived for the first time at its homeport of San Diego last year.

The first U.S. Navy ship named after a foreign capital, Canberra (CA-70) was sponsored by Lady Alice C. Dixon, the wife of Sir Owen Dixon, then Australian Minister to the United States. Following World War II, Canberra was placed out of commission and in reserve on March 7, 1947. Five years later, the ship was selected to be the U.S. Navys second guided missile cruiser. The ship was re-commissioned on June 15, 1956, as guided missile heavy cruiser CAG-2.

With its new designation, Canberra transported President Dwight D. Eisenhower and later was the ceremonial flagship for the selection of the Unknown Serviceman of both World War II and Korea interned at Arlington National Cemetery, was the Commander of the Atlantic Fleet Cruiser Force flagship, conducted an around the globe goodwill cruise, provided medical assistance to the crew of the Turkish merchantman Mehmet Ipar, was the Commander Task Group 136.1 flagship that was charged with maintaining a blockade during the Cuban Missile Crisis, and served in Korea and Vietnam. To highlight the ships role in naval gunfire support following operations in Vietnam, Canberra was re-designated to original classification and identification number CA-70 on May 1, 1968.

Canberra received seven battle stars for her service in World War II. The ship was decommissioned on Feb. 2, 1970, and was stricken from the Naval Vessel Register on July 31, 1978.

The present day USS Canberra is the 16th Independence-variant Littoral Combat Ship commissioned by the U.S. Navy. LCS are designed to be fast, optimally-manned, mission-tailored, surface combatants that operate in both littoral and open-ocean environments. LCS integrate with joint, combined, crewed, and unmanned systems to support forward-presence, maritime security, sea control, and deterrence missions around the globe. The future USS Canberra was built by Austal USA in Mobile, Alabama.

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USS Canberra Will Join the U.S. Fleet in Australia to Honor Namesake - Pacific Command

78% of businesses have adopted smart building tech to drive energy efficiency, lower costs, decrease carbon emissions, and manage return to work yet gaps still exist

TROY, Mich., May 19, 2023 /PRNewswire/ --Toggled, a wholly owned subsidiary of Altair (Nasdaq: ALTR) focused on intelligent building management solutions, released survey results revealing that while manybusinesses are embracing smart building technology to increase energy efficiency and lower costs, they fall short of their goals due to an inability to master the data. The independent survey of more than 500 facility decision-makers throughout several industries gauged smart building technology adoption, its business benefits, and its impact on sustainability initiatives.

"It's clear from our survey the battle for smart building adoption has been won. But we can't stop there. By helping facilities establish a complete tech-to-intelligence loop, they can fully optimize energy and cost efficiencies," said Daniel Hollenkamp Jr., chief operating officer, Toggled. "Most businesses are only scratching the surface of what the technology can do. Once facility managers start to capitalize on what their performance data is telling them and where to adjust, the true business value of a scalable and flexible IoT-enabled smart building network comes to life."

Adoption is high and strides are being madeAccording to the survey, as many as 78% of respondents have deployed smart building features, and the same percentage of this group (78%) has seen an increase in energy efficiency and cost reduction as a result of using the technology.

While the results demonstrate businesses are making great progress in lowering energy use and costs, nearly two-thirds of facility decision makers (64%) say they are still looking for ways to monitor and analyze their carbon footprint or greenhouse gas emissions in their facilities. Only 36% have seen measurable results in decarbonization.

Verification and analysis are low, inhibiting further progressMost respondents (94%) who have implemented smart building technology say their organization has invested in data analytics. However, as many as 34% say they lack the talent and skills to integrate data science into their smart building platforms. This underscores the importance of businesses choosing a system capable of customizing analytics to the facility and providing simple actionable information in a timely manner. These features enable users to monitor building performance based on real-time data insights, directly from web-based devices without extensive coding or data science knowledge. By doing so, organizations can gain awareness into how these systems are optimizingperformance while also lowering their carbon footprint.

More key findings from the survey include:

"So many of the issues underscored in the survey results are something we see every day and why we developed our solution with so much intention around simplicity, customization, and integration," said Hollenkamp. "By giving users a customizable data analytics dashboard that generates real-time overviews on building efficiencies and anomalies, they gain complete control over their smart building environment so they can optimize performance."

The national survey was commissioned by Toggled and conducted by Atomik Research between April 13 and April 19, 2023. The survey drew responses from 505 U.S. decision-makers who hold authority over their organization's facilities throughout several target industries, including construction, financial services, information services, manufacturing, healthcare, education, real estate, agriculture, restaurant/food and beverage, transportation, energy, hospitality, and tourism.

About ToggledToggled and Toggled iQ are registered trademark brands of Ilumisys, Inc. (dba Toggled), a wholly-owned subsidiary of Altair (Nasdaq: ALTR). Toggled iQ is a networked lighting and building control system that leverages the Internet of Things, enabling customers to create unique and scalable solutions across many use cases including, lighting control, HVAC, remote sensor monitoring, and intelligent building control. To learn more, visit https://toggled.com.

About Altair (Nasdaq: ALTR)Altair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world all while creating a greener, more sustainable future. For more information, visithttps://www.altair.com/.

Media Contact:AltairJennifer Ristic+1.216.849.3109[emailprotected]

SOURCE Altair

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Altair's Toggled Survey Reveals Overwhelming Adoption Rates for ... - PR Newswire

Aware of the pressing need to help students foster connections and increase resilience, Suffolk has expanded and deepened its campus-wide culture of caring, said President Marisa Kelly, citing the negative impact of COVID restrictions on students well-being, compounded by relentless exposure to technology and social media in middle and high school.

We understand how important this conversation is, she said. We believe that we need to be meeting this generation where they are, as opposed to saying This is where you should be, please catch up. As a university, we are looking at how we can engage our entire community in the area of mental health.

Other panelists described lengthy wait times and scarce resources for children when they reach a crisis point. Dr. Kevin M. Simon, Bostons chief behavioral health officer, said the city recently launched a pilot program to train 200 new social workers and other specialists who will work for three years in the citys behavioral health centers and schools. Myisha R. Rodrigues, PhD, LMHC, executive director of the National Alliance on Mental Illness of Massachusetts, said progress was specifically needed in communities of color and among families struggling with housing insecurity.

Walensky, who recently announced she will step down from her post in June, said new federal initiatives to reduce emergency department visits, support traumatized youth in schools, and add badly needed mental health services were starting to help, but more resources were needed at the state and local levels for progress to continue.

We must create settings in which our children feel safe and supported and link our youth in crisis to treatment. And while we do these things, we must also work to reduce the long-standing inequities and root drivers of our youth mental health crisis, she said.

Taking aim at the digital media root of the issues, Markey, along with Senator Bill Cassidy (R-La.), recently reintroduced the Children and Teens Online Privacy Protection Act (COPPA 2.0), legislation that, if passed, will update childrens privacy laws, prohibit the collection of data on users ages 13-16, create a digital marketing bill of rights that limits the collection of personal information of teens, and establish a youth marketing and privacy division at the Federal Trade Commission.

The proposal has so far gained bipartisan support in the Senate, as well as endorsement by a wide coalition of mental health and youth advocates. We have a moral responsibility to get this job done, Markey said.

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Fighting 'Big Tech' to Stem Youth Mental Health Crisis - Suffolk University

Now that Elon Musk announced he isstepping down as Twitter CEO andappointed Linda Yaccarino to take his place at the social media company, the billionaires focus has turned back to TeslaInc TSLA, where Musk has implemented a new guideline.

In a move reminiscent of 2019, Musk, whos known for ruling with an iron first, advised his staff by email Monday that every new hire at the EV giant would need to be approved by him personally, according to Insider.

"No one can join Tesla, even as a contractor, until you receive my email approval, Musk wrote in the memo obtained by the outlet. "Think carefully before sending me the request."

Musk prefaced the new rule by writing that he would like to gain a better understanding of [Teslas]hiring.

Despite Musk announcing in June 2022 his plan to reduce Teslas salaried-worker headcount by 10%, the company increased its payrolls to 127,855 by the end of that year, up by nearly 30,000 from the previous year.

Although Musk is well known for micromanaging his workforce, Tesla received about 3.6 million applications last year, according to Insider.

Read Next:Elon Musk Says This Upcoming Tesla Vehicle Will Be His Daily Ride

Photo: Shutterstock

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Elon Musk Digs Back Deep Into Tesla, Ups Control Over Workforce ... - Benzinga