The Toyota bZ4X the Japanese company's first dedicated pure-electric car and the first in a range of zero-emissions models from the new bZ ('beyond Zero') sub-brand is now available to reserve in the UK, priced from 41,950.

First deliveries of the Ford Mustang Mach-E, Nissan Ariya,Mercedes EQA,Skoda Enyaq iVandVolkswagen ID.4rival will commence in 2022. Previewed at the 2021 Auto Shanghai motor show, the bZ4X sits on the newly developed 'e-TNGA' mechanical platform, shared with sister cars the Subaru Solterra and Lexus RZ.

The platform uses the batteries as an integral part of the chassis, promising the usual electric-car benefits of a low centre of gravity, good front/rear weight balance and strong rigidity. Plus, the bZ4X is offered with four-wheel-drive by means of a dual-motor setup on higher-spec models.

In December 2021, Toyota revealed a raft of new electric concept cars previewing forthcoming models, including several additions to the bZ range, both above and below the bZ4X in terms of size and likely price.

The bZ4X is available from launch in four trim levels: Pure, Motion, Vision and Premiere Edition. The Pure is available only with front-wheel drive, the Motion and Vision offer a choice of front or all-wheel drive and the range-topping Premiere Edition is all-wheel-drive only. Pricing is as follows:

Standard kit on the Pure includes 18-inch alloys, an eight-inch dashboard display, aseven-inch digital driver's display, a reversing camera and climate control. Options include roof rails and a towing pack. The Motion adds a rear spoiler, rear privacy glass, a poweredbootlid, parking sensors, heated front seats, ambient lighting and wireless phone charging. Options include afixed panoramic roof and 20-inch alloys.

The Vision kit list encompasses 20-inch alloys, rear parking sensors with automatic braking, remote parking assistance, synthetic leather upholstery, heated and ventilated front seats, a powered bootlid with kick sensor and a heated steering wheel. Options include the panoramic roof and towing pack.

The limited-run Premiere Edition packs in everything you get on the Vision, plus a nine-speakerpremium sound system and the panoramic roof. Unlike the other three trims, it can only be ordered through Toyota's website.

Both versions of the bZ4X available from launch feature a 71.4kWh battery, which allows the front-wheel-drive car to return a driving range of more than 280 miles in industry-standard testing.Meanwhile, the four-wheel-drive model will be able to cover over 255 miles on a single charge, according to Toyota.

Rapid charging at up to 150kW will be possible, allowing for 80% battery capacity to be reached in around 30 minutes from fast enough public charging points. Towards the end of 2022, Toyota will make an 11kW on-board charger available in the bZ4X, for faster overnight wallbox charging at homes or premises with a three-phase electricity supply.

According to the manufacturer, the batteries are anticipated to retain 90% of their original capacity even after 10 years or 150,000 miles on the road. It's not yet known whether smaller or larger-battery variants will also be offered in due course.

Like many electric SUVs, the bZ4X will be available in both cheaper two-wheel-drive form and as a four-wheel-drive range-topper. The single-motor, front-drive version has a power output of 201bhp and peak torque of 265Nm, which results in a 0-62mph time of 8.4 seconds and a top speed of 99mph.

The four-wheel-drive version has two motors, with one each driving the front and rear axles. Peak power here increases to 215bhp and torque goes up to 336Nm, taking the 0-62mph time down to 7.7 seconds. Toyota says the four-wheel-drive bZ4X will get various off-road driving modes, too, suited to "snow or mud", "deep snow or mud" and "tougher off-road driving".

The concept version of the bZ4X seen in April 2021 featured a 'yoke'-style steering wheel an element of 'steer-by-wire' technology that does away with a mechanical link between the steering wheel and front axle, reducing the need to move your hands around the wheel. However, Toyota says this system is now planned for introduction in Europe "at a later date" and the production version has a conventional circular wheel.

Elsewhere, Toyota says it went for a "living-room" ambience when designing the bZ4X's interior, making use of soft, woven trim textures, details finished in satin and slim, low-set instrument panel to give a greater sense of openness from the driver's seat. A "hands on the wheel, eyes on the road" philosophy sees the driver's seven-inch instrument and infotainment display placed directly in their eyeline, just above the line of the steering wheel. While in the centre of the dashboard is a 12-inch infotainment touchscreen. A panoramic sunroof is offered as an option, as isa solar panel roof in some European markets.

Practicality is boosted by a long wheelbase and short overhangs to maximise the amount of interior space, with Toyota claiming passengers will enjoy as much legroom as in a luxury saloon like the Lexus LS. Boot capacity is up to 452 litres and on the safety front, the bZ4X is set to feature the latest third-generation iteration of the now-familiar 'Toyota Safety Sense' suite of driver-assistance and collision-avoidance tech.

Toyota has also announced that it'll sell its range of pure-electric vehicles, starting with the bZ4X, through a series of in-dealer hubs that'll offer customers specialised advice about the switch to zero-emissions motoring. Toyotas European product and marketing boss, Andrea Carlucci, told DrivingElectric that these bZ Hubs are likely to be store-in-store facilities in effect, a dedicated area of the showroom floor in certain locations. However, not all Toyota dealerships will be expected to offer this more specialised service.

Regardless of where the customer orders their bZ4X, the zero-emissions SUV will be available as part of an all-inclusive leasing solution that combines maintenance, insurance, connected services and a home wallbox, plus a single card that gives access to multiple public charging networks as well.

Read more:
New Toyota bZ4X electric SUV: prices, specs, pictures and on-sale date - DrivingElectric

Paid Feature It might have taken a couple of decades, but were now at a point where many tech professionals have moved away from the thinking that a server is something they have to own. The growth of the cloud has seen to that.

Even on-prem infrastructure is increasingly seen as something that can be used, managed, and controlled, without being bought outright.

However, when it comes to personal devices, things get well, personal. End users can become unaccountably attached to their device or alternatively see an unsatisfactory PC or laptop as emblematic of everything thats wrong with their employer.

As Lenovos worldwide Device as a Service leader Rob Makin says, a laptop or a tablet is not a multi-tenant device, like a server. When an individual is not using it, say at the weekend, its not like the organization can utilise it for something or somebody - else.

Of course, leasing has long been a part of the tech scene. And one of the key benefits of leasing is the ability to move tech expenditure from CapEx to OpEx. But that does little to improve the utilisation or management of end user devices. Or to alleviate the frustration of the user stuck with a sub-par device, or the frustration of the support staff whose time is swallowed up keeping aging or inadequate kit working.

And, as Makin explains, leasing does nothing to help CIOs manage their estate better. If anything, leasing companies ideal state is a combination of their draconian Ts&Cs and clients inefficient management. If companies dont hand back kit, the leasing company continues to benefit whether the company is benefiting or not.

The answer is to combine the hardware element, with the software and services required to get the most out of it, both for individual users and their employers, and offer it for a single monthly fee. You might even call it Device as a Service. Which is precisely what Lenovo has done.

Though it launched several years ago, the combination of the pandemic and the disruption it has caused to traditional corporate support models, together with the embedded functionality in Windows 10 and now Windows 11, as well as Microsoft Intune, has accelerated its adoption.

One of the starting points for Lenovos approach, says Makin, is personal management, making sure you have the right device, for the right person or organisation, then considering how that device is actually procured and ordered, whether it's a new starter or a refresh.

Because Lenovos range of products and services are presented as a catalogue under DaaS, tech pros can tailor devices for individuals or groups, Then the device gets built, and the services that are required such as image load, asset tagging, any software, are put onto that device.

Doing as much as possible before the device leaves the factory is far more efficient than customising further down the supply chain. Every time you touch a box in the supply chain it costs money.

Of course, the supply chain still has to stretch to the customer. In normal times, this would overwhelmingly be to the end users office, whether in the shape of a steady trickle of workers to a harassed IT team, or perhaps to a kiosk in the foyer of their building for a large-scale rollout. Now, Makin says, delivery is overwhelmingly to end users homes.

This radically changes the support equation. Lenovos aim is to make deploying a laptop more like buying a cellphone, where You turn it on and you log on to your appropriate operator using the cloud, whether it be Google or Apple, and then all of a sudden, all of your old apps are there with your data. Rather than waiting for IT to transfer all the end users data, while they go for a coffee. And another coffee. And another until the transfer is done.

In the current battle for talent, putting fresh kit into peoples hands and offering a better user experience, might be enough to tip the balance when attracting key talent, he argues, depending what point theyre at in their career.

There's nothing worse than starting a job, and someone gives you a four year old laptop out of the back of the cupboard somewhere that looks like it's been dragged around the back garden by someone's kids for four years.

With the best will in the world, of course, sometimes people will still need support. One of the promises of Lenovos DaaS programme is the loving attention of elite technicians via their Premier Support service. So what makes an elite technician? As Makin says, while it can be difficult to define the perfect techie I know what a good one looks like.

But in practical terms, we would recruit what would be a skill set of a level two tech to perform a level one function.

On the face of it, this is more expensive. But what it gives us is a better user experience, and a quicker one time and first time fix. So, if we can fix something quicker, first time, that actually saves us money because we don't have to keep coming back.

And that one fix capability will be refined even further over time, as the program begins to embrace predictive analytics, which will enable predictive and proactive maintenance.

But while an improved user experience is desirable, hard financial savings are a given to get organizations to embrace such a radical change to how they procure end user kit.

There should be an immediate benefit from moving to an as-a-service model, as expenditure moves from capex to opex. This should offer an immediate benefit tax wise. It also removes the whole issue of large capital outlays to bring a team up to spec and makes costing client kit more predictable.

Arguably, the same would apply with traditional leasing. But that hasnt always been the experience for many companies, with leasing companies happy to leave inappropriate kit in place, and continuing taking the payments.

Lenovos aim is to establish a circular economy around tech assets, says Makin: The way that DaaS is structured, it drives a fair market value for the product over the 36 or 48 month period where you as the customer are actually not paying that full amount for the device, so you've got a monthly OPEX savings.

Lenovo, he continues, takes a residual value at the end of the period. We then take that value, and we allow that saving to be passed on to the customer. Youre not owning these devices anymore. Youre consuming it as a service.

Lenovos program features a flex element, allowing customers to scale their fleet up or down. For example, if you've got peaks and troughs and demands, grad intakes, project based work or general uncertainty, you can then actually have up to 20 per cent of your fleet where you can end up not paying for these devices for up to two years. The billing is paused.

Asset management is a major headache for tech teams. Makin recounts a conversation with a client with 100,000s of devices who simply didnt know where 10 per cent of them were at any given time. Or, more worrying, whats on them. DaaS tightens all of that up.

Of course, the total benefit will vary. Some customers will choose to take up some of the services available under DaaS and not others. As Makin points out, Were not tax advisers. But the DaaS model does enable savings and efficiencies right along the line. In aggregate, we see at a TCO level up to 20 per cent savings.

But arguably, the biggest benefit is freeing up IT staff and repurposing them into different areas. In-house staffers who are doing manual refreshes, or dealing with unhappy users, or walking from one desk to another to upgrade memory, are not available for supporting a strategic transformation.

Being freed from the treadmill of routine maintenance should result in a much happier tech team, as well as happier more productive users. The fact that Device as a Service means that they, too, can have the latest, most appropriate kit to help them do their jobs? Well, thats just the icing on the cake.

Sponsored by Lenovo.

Read the original:
If you never actually own a server or a posh watch, shouldnt it be the same for laptops and tablets? - The Register

Fiduciary Management, an investment management firm, published its Small Cap Equity Fund third quarter 2021 investor letter a copy of which can be downloaded here. The FMI Small Cap portfolios gained approximately 0.6% in the September quarter compared to declines of 4.36% for the Russell 2000 Index and 2.98% for the Russell 2000 Value Index. You can take a look at the funds top 5 holdings to have an idea about their best picks for 2021.

Fiduciary Management, in its Q3 2021 investor letter, mentioned LGI Homes, Inc. (NASDAQ: LGIH) and discussed its stance on the firm. LGI Homes, Inc. is a Texas, United States-based construction company with a $3.4 billion market capitalization. LGIH delivered a 32.85% return since the beginning of the year, while its 12-month returns are up by 11.00%. The stock closed at $140.62 per share on October 18, 2021.

Here is what Fiduciary Management has to say about LGI Homes, Inc. in its Q3 2021 investor letter:

"LGI Homes engages in the design, construction, marketing, and sale of new single-family homes in the U.S. It participates in 34 markets across 18 states, with 9,339 closings per year as of 2020. It is the tenth largest residential homebuilder in the U.S., and focuses on building affordable, entry-level spec homes that are move-in ready. The company primarily markets its homes to renters in order to convert them into homeowners. It operates through the following segments: Central (39% of closings, 36% of revenues), Southeast (26% of closings, 24% of revenues), Florida (13% of closings, 12% of revenues), West (11% of closings, 12% of revenues), and Northwest (11% of closings, 16% of revenues). The company was founded in 2003, completed its IPO in 2013, and is headquartered in The Woodlands, Texas.

Good Business

The company has a unique selling culture with a simple and differentiated business model that is easy to understand and consistently applied across every LGI Homes community in the U.S. Its homes are built quicker and more efficiently than a typical spec home because LGI uses even-flow production, allows for no customization by the buyer, and builds in sets of 3-4 homes simultaneously. LGI uses a highly successful direct-to-consumer sales model and is not reliant on realtors to bring potential buyers to its communities, like most peers. This makes the company less sensitive to underlying demand for housing than the average homebuilder. LGI has been profitable every year since its inception in 2003, even throughout the Great Financial Crisis. It has the highest monthly absorptions (homes closed per community per month) among other homebuilders, at seven homes per community, and has the highest gross margin out of its peers. LGI Homes communities are primarily located in southern geographies with favorable migration patterns. LGI is one of the only homebuilders that has earned returns above its cost of capital over the past decade. It has averaged a return on invested capital of ~14% over the past five years. The companys balance sheet is in good shape, with a net debt-to-total capital ratio of 31% and a net debt-to-EBITDA of 0.9 times.

Valuation

The stock is trading at 8.3 times its trailing enterprise value-to-EBIT, which is over a standard deviation below the companys 5-year average of 11.0 times. It trades at a forward price-to-earnings multiple (P/E) of 8.9 times, half a standard deviation below its 5-year average of 9.6 times. Management LGI management and directors own nearly 12% of the company, aligning their interests with shareholders, and all named executive officers have long tenures. The management team members are regarded as some of the best operators in the industry. CEO Eric Lipar is one of the founders of the company and owns over 9% of the shares. CFO Charles Merdian has been with the company for 17 years, and in his current position for 11. President and COO Michael Snider has also been with LGI for 17 years, and in his current position for 12 years.

Investment Thesis

LGI Homes operates quite differently than most peers. What really sets the company apart is its unique, systematic approach in marketing to renters, training its sales staff, and identifying optimal locations to build communities. In contrast to many homebuilders that depend on realtors to bring buyers to their communities, LGI uses a direct-to-consumer approach to actively search for renters and convert them into homeowners. This model has proven extremely effective, as the company has sustainably higher monthly absorption (closing) rates, double its peers. This sales model has also proven to be a more durable and consistent way to sell homes, and better able to withstand a tougher economic environment. Additionally, LGI Homes is well-positioned to benefit from strong economic and secular trends in the industry, such as low U.S. home inventory, low interest rates, migration patterns to the south, strong demand for more affordable single-family housing, urban flight, and increased working from home. LGI should continue to outpace peers while generating good returns as it follows its superior sales model and expands into new communities."

Story continues

Construction

Based on our calculations, LGI Homes, Inc. (NASDAQ: LGIH) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. LGIH was in 17 hedge fund portfolios at the end of the first half of 2021, compared to 16 funds in the previous quarter. LGI Homes, Inc. (NASDAQ: LGIH) delivered a -12.50% return in the past 3 months.

Hedge funds reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldnt keep up with the unhedged returns of the market indices. Our research has shown that hedge funds small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by 115 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage.

Disclosure: None. This article is originally published at Insider Monkey.

The rest is here:
Heres Why You Should Consider Investing in LGI Homes, Inc. (LGIH) - Yahoo Finance

Early-stage companies are glad just to get orders for their products. They see every prospect as a link in the chain that brings them ultimate success. It usually takes them a few bites into a rotten apple before they realize that one of the standards that they need to set is a credit policy that provides them with reliable customers that will end up paying their bills. Larger, well-established companies developed solid credit policies as part of their standard operating procedures. Someone wants to do business with you, they submit to a credit check. When you are comfortable that theyre able to pay your invoices, you give them a credit line, allowing them to buy your products or services.

In spite of solid credit policies, companies still get blindsided by customers that fail to pay their bills. Every company that looks at their business strategically, plans on a certain amount of bad debt. Nobody wants bad debt, but the reality that some bills arent going to get paid is part of good business planning. But the key is to do what you can to provide a fence around your receivables to reduce, if not totally eliminate write-offs. But not every risk is something that you can preplan for.

One only needs to look back to our recent past during the Great Recession of 2008. Many companies were caught short when their customers werent able to pay their bills and there was a domino effect that crippled many businesses. For instance, I worked with a manufacturer of new and replacement windows that had quite a few small home builders as customers. The manufacturer had been having a difficult time, but was working their way out of a hole. Then the recession hit. Home sales plummeted. Remodeling came to a halt. Construction of spec homes stopped, and many small home builders went out of business. The company, which had been doing OK, suddenly found that their accounts receivable, which supported their line of credit, had gaping holes in it. Invoices started to age out, and fall off the edge of their borrowing base. Credit line availability evaporated, and the company was suddenly short of cash, and at risk of going out of business.

Companies with established credit policies have great similarities. They are larger, with a stable customer base, and often have long established credit policies. Once a policy is established, there is little impetus to go out and change it because it was likely achieved after many frustrating conversations around the conference table to get everyone to agree. Finance wants tighter restrictions to protect collections, while the sales department wants more lenient policies so that they can push sales. Once those two warring parties come to agreement, nobody wants to open the topic again.

After 10 years of growth, the economic climate has once again changed. While some businesses have been able to take advantage of the economic turmoil, many businesses are struggling for customers. Banks are starting to pay fresh attention to their loan portfolios and the pretend and extend policies of 2020 are in the rear-view mirror. Supply chain issues have suddenly brought new issues to the fore and will likely have an impact on consumer sales over the next six months or longer. Now is not the time to sit on the sidelines, letting policies that were established years ago drive decision making. Re-examining your credit policy might certainly have an impact on sales but will undoubtedly provide some additional security to your bottom line. Your business needs to do two things:

Realistically examine your credit policy.

In the new economic reality, should new customers be rated differently than in the past?

Give your own customers a fresh look

The days of a stable economy will hopefully return, but now is not the time to reminisce about the good old days. Mature businesses have always looked outside the norm to find not just opportunities to expand their market, but also to protect their assets. Its common for companies to explore and establish alternate sources of supply, cross train staff, and establish product lines that are counter cyclic. But internal policies need to be reviewed regularly as well.

Just as this time of the year brings the typical drive to create a budget that reflects what you hope will be next years sales and profitability, shouldnt it also be a time to reexamine the policies that are at the core of how your business operates? Regulatory agencies and the courts provide a necessary direction for accounting procedures, human resource management, and contractual relationships. But the review of your customer relationships is no less important. Collection of accounts receivable may be going fine, but it can certainly create a different sense of urgency in short order. Take the time to make sure that the processes and procedures that drive your cash flow are up to date and relevant in the current economic reality.

Written by Lawrence Chester.

Track Latest News Live on CEOWORLD magazine and get news updates from the United States and around the world. The views expressed are those of the author and are not necessarily those of the CEOWORLD magazine. Follow CEOWORLD magazine on Twitter andFacebook. For media queries, please contact: info@ceoworld.biz

Read the rest here:
A Disaster in the Making Your Credit Policy - CEOWORLD magazine

Last year, the pandemic proved to resort developers that wealthy New Yorkers want to put down seriously expensive roots abroad in the form of baller vacation villa sanctuaries. Now, new beach spreads are going up by the score in sun hubs like the Bahamas, Mexico and Grenada.

Bakers Bay Golf and Ocean Club, located on a three-mile sandy spec in the Sea of Abaco in the Bahamas, has been a real estate hub for loaded putters since it was built in 2004. But in 2019, it was virtually leveled by Hurricane Dorian.

After the catastrophe of Hurricane Dorian, the entire Bakers Bay family, our members, owners and team members, all banded together to restore Bakers to a level of greatness, Michael Meldman, the founder of Discovery Land Company, Bakers Bays developer, tells Alexa.

Now, what was old is new again. The resorts golf-centric, amenity-rich offerings include a 1.3-acre estate with a two-story, five-bedroom villa that boasts 10,000 square feet and is asking $32.2 million.

On the other side of the Caribbean, in Grenada, the 43-key luxury getaway Silversands has just debuted a new collection of eight private homes all on the islands best beach, Grand Anse starting at $7 million. Its top villa is a four-bedroom, 6,800-square-foot beach spread with bespoke furnishing, a private pool, 2,215 square feet of outdoor deck space and a $12.7 million price tag. With a focus on family entertaining, big efforts went into the kitchen, including Poggenpohl cabinetry and appliances by Gaggenau and Miele.

But if being anchored to a continent is your jam, head to Mayakoba, Mexico, just south of Cancun, where Rosewood just debuted its splashy signature private homes. These Rosewood Residences are decked out in costly travertine and local marble with double-height, all-glass living rooms. The largest among them is a five-bedroom, seven-and-a-half-bathroom beaut with 6,813 square feet, a private pool and access to all of Rosewoods luxe hotel amenities asking just $6.35 million.

Time to buy something hot.

The rest is here:
Wealthy buyers snap up luxury villas in the Caribbean and Mexico - New York Post

Dont lump us in with factory farms

In response to the article by Jessica Scott-Reid, our local Ontario fall fairs are in fact supported by local farmers, junior farmer clubs and 4-H clubs. I take offence to being put into the huge factory farming industry category. We do in fact live on a six-generation farm, raising goats with the greatest of care, humane treatment, loving them. The animals you see at local fairs come from these types of farms, not factory farms.

Joanne Battersby, Frankies Goats, Smithville

Ministers op-ed was an insult

The op-ed you printed by Housing Minister Steve Clark was both an insult to the people of Hamilton and out of touch with anything resembling reality. Who is this guy to tell our city what we have to do, especially if nobody wants that ridiculous option that he is pushing? He states it would cause growth to be redirected into other areas. Good, we dont need more congestion in Hamilton. Tell Toronto to fill in its harbour and jam as many condos in there as greedily possible. Hes concerned it will drive up housing prices. Thats a joke. The only thing driving these prices through the roof are speculators, developers and real estate barons.

This genius hails from the boonies of eastern Ontario, Brockville to be specific. If he wants to start chewing up rural landscape to appease developers, I suggest he do it out on his own turf in Leeds-Grenville.

Bully the developers, not the people

There is land within the current Hamilton boundary already approved for houses, but the houses havent been built yet. If the Ford government is truly concerned about getting homes for people, then the Ford government needs to bully those developers to build that housing instead of bullying the people of Hamilton to pave over irreplaceable farmland and greenfields. Oh, and while theyre at it, provide housing for those living with homelessness. Thats what an open government For The People would do if the true intent of its disruptive land-use planning tactics was actually to provide homes for people.

Story was fine, headline not so much

In my opinion, the report filed by Teviah Moro on the Nanos survey appears factually correct. However, the headline reads like it was written by the survey sponsors. In summary, the survey revealed 266 respondents prefer expansion, while 224 preferred to freeze the present boundaries. The Nanos survey throws cold water on the survey conducted by the city that showed 90 per cent or 18,636 of respondents want to freeze Hamiltons boundaries.

Nanos appears to be the first in a long line to profit from the real estate industry attempting to buy government policy. I hope at least some read through the entire article and did not stop at the exaggerated headline.

Survey story wasnt newsworthy

After reading the story of the 700-participant boundary expansion survey sponsored by local developers and real estate interests on the front page Oct 14., contradicting the 18,000-participant survey sponsored by city hall by six per cent (or two per cent taking into account the 3.7 per cent margin of error), I have to wonder what motivates The Spec to even make this a story (let alone front page).

Think about rainfall run-off

I read 38 per cent prefer Hamilton boundary expansion. Then I read Early pace would make October the hottest on record for Hamilton which contained the following: Heavy rain on a grassy knoll takes eight hours to seep unto the water table. On a paved road? Eight minutes. With this decreased time, more damage follows, including flooding. Please think about that, councillors.

A letter to Coun. Farr

Greetings Councillor,

The problem with the hardline stance you are taking regarding homeless encampments is you seem to ignore the idea that we have no housing for these people. Where will they go?

I dont live in your ward so I cant affect you by voting, however, the good news is very few people agree with your heavy-handed approach. Most people in this city have empathy and compassion for the situation these people find themselves in.

Nobody likes the encampments, but instead of criminalizing them, do what you are paid to do and find solutions. Just as a hint, giving developers grants which they use to renovict tenants from affordable housing is not going to decrease homelessness.

Hatt Street is one big mess

The person who redesigned Hatt Street in Dundas obviously does not live in Dundas. Its a complete mess from the combination of York Road/Main Street/Hatt Street to John Street.

When one is driving on York Road toward Main/Hatt there used to be a straight lane and a left turn lane. Now, because of this stupid bike lane the lane for vehicles is only one lane. I see numerous traffic jams. Also, these bike lanes take up far too much of the road.

Who in their right mind let vehicles park in the middle of the road? Take parking off of Hatt Street altogether. It is now faster to take King than Hatt. This is obviously a make-work project for someone.

More:
Opinion | Oct. 20: Bully developers not people, don't lump local farmers in with factory farms, Clark's op-ed an insult and other letters -...

A message to the housing minister

Hello Mr. Clark:

I am a resident of rural Hamilton and have seen firsthand the growth and expansion of the Binbrook and Stoney Creek Mountain areas of Hamilton. The homes built in these new neighbourhoods are anything but affordable. The only people benefitting from these expansions are the builders, land developers and speculators/families from the Toronto area coming here to displace locals who cannot afford these new high priced homes. It seems you are the one with his head in the sand as to what is developing in my neighbourhood. Do not take the biased word of the WEHBA and OREA who are businesses looking out for the profitability of their clients. These entities put profits first and care nothing of affordable housing for families in need and address the homeless problem Hamilton is dealing with. You state you want to put people before politics, but you are in fact putting profits before people and it is the homebuyer which has been suffering. What Hamiltons residents need and deserve is affordable housing which does not line the pockets of greedy developers.

Good luck Ontario

Regarding the opinion piece Oct. 14 about the nursing crisis: I am an RN who graduated in 1988. I have been working in an emergency department since 2004. Ive been told our ED is the busiest in the area. We have the most walk-in and ambulance patients annually. Our daily volumes are as high or higher than pre-pandemic. We constantly work short, close beds, and get abused. Our admit to no bed patients stay in ED for hours that stretch into days. We were stretched before COVID. Now were feeling the consequences of the antivax clickbait misinformation. Were trying our best to do our best, and so are the rest of the people I work with. Weve recently seen a massive exodus of experienced RNs. Weve hired new grads to fill the spots which leaves a large gap between senior nurses and the baby nurses. The opinion piece is spot on. Im looking at jobs in Florida. Good luck Ontario.

Turn unused school into a shelter

Each time I drive through town, I pass by the very large unoccupied building of Sir John A Macdonald School, and shake my head at the waste of resource there. It would appear to me that a large school with facilities would be an ideal place to use as a temporary location to house homeless in more comfort than living in tents on streets. Why has this not been considered? Most high schools have access to water, showers, cafeteria and heat, and are large enough to provide social distancing for those using facilities. As colder weather approaches, lets consider a practical resource right under our noses.

Things change slowly in Leaf nation

It was hard not to notice the composition of the crowd shot in Thursdays Sports section photograph. There were a couple of Asians, one man wearing a turban, a few women and no Black people. The rest of the crowd were overwhelmingly middle aged white men. Is that because the rink side seats are $400 or that the bidding for a Auston Matthews game worn helmet started at $5,000 or that you needed to be doubly vaccinated to get in? The times they are a changin more slowly I guess in Leaf Nation.

Whats the vaxx status of patients?

Now that we have such a high percentage of vaccinated people can we please break down COVID active cases to show vaccinated active and unvaccinated? I believe this will give a better picture of the possible severity of the illness and outcome.

Karen Filice, Stoney Creek

Where is the equity in COVID rules?

Why are the two groups impacted the most by COVID treated differently? Restaurant capacity limits remain the same yet sports and movie theatres are at full capacity. Health care workers are losing their jobs if they are not vaccinated yet school board staff and teachers are allowed to work unvaccinated. There is no rational explanation for this blatant inequality. Open up the restaurants and fire school staff not willing to get vaccinated. Premier Ford stop this Animal Farm approach where some are more equal than others.

Jackson event should be open to fans

Yes, Russ Jackson does deserve better (letter to Spec Oct. 9). Imagine that: by-invitation-only! It seems to me we are blaming COVID for everything these days. Now we cant even give Mr. Jackson the recognition he deserves, and that is to have his many fans in attendance. I live immediately behind William Connell Park where Russ Jackson Field is located. My husband and I have watched this park being constructed since day one, and what a beautiful park it is. Our sons name is Russ and our 10-year-old grandson is Jackson. Naturally, Jackson thinks of the Russ Jackson Field as his and his Dads, too. He was so looking forward to meeting Mr. Jackson, the famous football quarterback and legend. We all were waiting in anticipation for this day.

I hope that whoever made the decision to have the gathering a by-invitation-only event will stop blaming COVID (its going to be outdoors!) and reconsider opening it up to Mr. Jacksons fans.

Go here to see the original:
Opinion | Oct. 19: Nursing exodus continues, a message to Minister Clark on putting greedy developers before people and other letters - TheSpec.com

Turn SJAM over to HHS

I agree with the comments on the use of the school Sir John A. Macdonald. There is more than enough room for 200-plus individuals. There is room for administrators, medical professionals and social workers. It is clear that the taxpayers have paid for this building. Therefore, transfer this asset to Hamilton Health Sciences and assist those in need. Is there a clearer answer? Remember, this is taxpayer money.

Christopher Risidore, Hamilton

Old Cathedral School is a shelter already

Regarding the letter Turn unused school into a shelter (Oct. 19): The author is right its a great idea to turn unoccupied schools like Sir John A. Macdonald into shelters for homeless people especially now that winter is coming. The thing is we already have one! For the past year, The Good Shepherd has run an overflow mens shelter out of the old Cathedral High School on Main Street East. Its a great resource. Sadly, it is scheduled to shut down in December as the COVID funding is ending. What a pity.

I dont like this idea

Turning Sir John A. Macdonald school into a temporary shelter was an idea recently put forward by a Dundas letter writer. As a longtime resident of the Central neighbourhood, living in proximity to the school, I have concerns about this. Shelters, temporary or permanent, are not a solution to the homelessness crisis. Interestingly, the letter was adjacent to an article by Lily Noble of Stop the Sprawl Hamilton. She points out that infill development is less expensive and more environmentally and socially sustainable than sprawl. Surely, with all the vacant buildings that we know exist in Hamilton, a permanent solution to homelessness could be found. Readers may be interested to know many Central residents would love to see the SJAM space become a vibrant community hub that could include health services, recreation and meeting spaces as well as perhaps a seniors facility, all badly needed.

Joan Little has my back

Regarding the commentary Column unfairly portrayed Christmas market plan (Oct. 18): Wow! Watch your back Ms. Little, the knives are out! It seems a couple of typos can be lethal!

I read Ms. Littles Sept. 29 column, as I do all her columns, and really appreciate her knowledgeable insights into the workings of Burlington. Frankly I dont recall anything nefarious in her article, but if Coun. Nisan felt she had made an error, why didnt he just write to set the record straight? Why this Gang of Four approach? Methinks they doth protest too much!

Poor Ms. Little! I must pay even closer attention to her columns in future; apparently I missed something juicy. I know for sure that Ms. Little has had MY back for many of the 55 years Ive been a Burlington resident, with her timely and valuable information.

Dont kill those beavers

Im sad and frustrated to read of the mindless solution the City of Hamilton came up with to solve a problem caused by three beavers. According to the city, they are happy to keep an eye on most beaver hot spots throughout the city. Someone forgot to monitor the damaging 20-metre dam beavers built across Davis Creek. The only solution the city came up with kill the beavers!

Pamela Holland, Stoney Creek

Blame city hall, not the beavers

I would imagine that if Canadas symbol of hard work and perseverance has survived over a century of steel mill induced smog, decades of contaminated soil and years of billions of litres of raw sewage flooding the wetlands then the beaver is more toxic avenger than chubby little rodent with a serious overbite. Seriously, blaming beavers for decades-long neglect of bursting pipes, overflowing sewer systems and 100-year floods is ludicrous. The fault lies squarely with the provincial and municipal governments who put expansion ahead of maintenance. Add thousands of new homes with little regard for aging infrastructure and you get a sewer system that like the highways are clogged and bursting at the seams.

Try chicken wire around the trees

As to the beaver situation: put chicken wire around the trunk of the trees. Then the beavers cannot chew the trees down because they cannot chew through the chicken wire. The beavers will relocate themselves.

Wayne Richardson, Hamilton

Its all part of nature

Perhaps readers should be made aware of how beavers are trapped. Trappers set underwater traps that drown them. It is cruel and unnecessary. Share the land with all creatures. Be kind. I live abutting a conservation area and yes have had high water issues because of their activity. Its part of nature. And life.

Michelle Gagnon, Hamilton

Killing them is not an option

If the city is having a problem with beavers, why dont they get permission from the province to relocate them someplace more suitable, such as up north past Timmins? Its not rocket science. I wouldnt mind seeing my tax dollars spent to capture these pesky creatures and move them by to another area. Killing them is not an option.

Jeremy Duffy, Stoney Creek

See the original post here:
Opinion | Oct. 21: Spec readers agree Don't you dare kill those beavers, what to do with SJAM and other letters - TheSpec.com

As properties go, it was not going to last long on the market a dream home on more than an acre of land in Greenwich, abutting more than three acres of conservation area and priced at a mere $1.8 million in an enclave where other houses are selling for more than $5 million.

The only element missing? The dream home itself, which exists only in the mind of the buyer who bought the acreage. But it wont be long before a builder has that blueprint in hand, as a backhoe breaks ground on a new house.

As home hunters pounce on listings nearly as fast as sellers are putting them onto the market in Connecticut, construction of single-family homes is shaping up as the states next boom following a decade of apartment construction.

The last burst of new construction in Connecticut in 2008 ended up with many homes built on spec languishing empty for extended periods and some going into foreclosure for lack of buyers, after a hot housing market imploded in the sub-prime mortgage collapse that triggered the Great Recession.

But experts agree that the COVID-19 pandemic continues to drive city dwellers to outlying towns, as more employers embrace remote working arrangements they cobbled together on the fly last year.

The CEO of Berkshire Hathaway HomeServices New England Properties does not see a spec-building bubble like 2007 in the offing, but says there is sufficient interest in Connecticut options that newly built homes will find buyers in a hurry.

Were seeing more permits, for sure, and well see more builders much more willing to bring their product and at a little bit higher of a price, said Candace Adams, CEO of Berkshire Hathaway HomeServices New England Properties. Ive gotten ... inquiries for large parcels of land in Connecticut of people looking to develop it.

A year after permits for apartments outnumbered new houses in Connecticut by 1,300 units, the pendulum swung in the opposite direction last year according to the U.S. Census Bureau. The more than 2,900 home permits estimated by the Census Bureau was the highest total since 2008, when municipal officials signed off on nearly 3,100 projects.

The SmartMLS multiple listing service had more than 2,500 listings for available residential lots in Connecticut, from a 19-acre waterfront spread on Greenwichs Field Point Road priced at more than $45 million to a 33-acre wooded parcel in Stonington that sold this week for less than $1 million. Many of those lots carry approvals to be subdivided for multiple homes.

Currently in Connecticut, 1,600 newly constructed homes are listed for sale on Zillow, including 200 in the past month alone and several of those already under contract. But it is not quite yet a build-it-and-sell-it bonanza large numbers more remain available that came on the market last summer and fall.

The Connecticut Department of Consumer Protection currently lists 1,600 home builders approved to perform new construction.

As far as who is buying, it depends on what part of the state were talking about, Jim Perras, president of the Home Builders & Remodelers Association of Connecticut, said in an email. In central Connecticut, typically what we are seeing is customers in their 30s or 40s with children most are second time home buyers and residents from the area. Contrast that with the Fairfield County area, where the vast majority of new home buyers are from out of state, with many existing residents opting to remodel and build additions.

Perras said that builders are busy enough that it is squeezing out any excess capacity for speculative home construction for subsequent sale. And he said builders are getting squeezed on another front the cost of materials.

Prices for building materials have escalated sharply the past several months including for lumber, confounding builders who are purchasing supplies after locking in prices for existing projects. The Associated General Contractors of America beseeched President Joe Biden on Thursday to intercede by finding ways to increase domestic lumber production or make it easier for suppliers to import from Canada or other countries.

But todays buyers and builders have another extraordinary tool at their disposal interest rates that at 2.7 percent for a 30-year mortgage are at nearly half their level of two years ago. The Federal Reserve has indicated it will hold interest rates steady for at least the next year in an effort to boost economic activity coming out of the pandemic.

In Stonington, the agent who sold the 33-acre parcel near Lords Point indicated that activity is booming elsewhere as well, including on Masons Island at the mouth of the Mystic River.

I just sold or put under deposit about six or seven lots there, said Judi Caracausa of Market Realty in Mystic. Wonderful new construction happening there too.

Alex.Soule@scni.com; 203-842-2545; @casoulman

See the rest here:
'Looking to develop': Demand for homes could lead to construction spike in Connecticut - CT Insider

Darrell Hofheinz|Palm Beach Daily News

Hedge-fund billionaire David Tepper and his wife, Nicole, are on the buyers side of an off-market salethat closed Friday foras much as$73million for a never-lived-in oceanfront mansion on the North End of Palm Beach, sources have confirmed for the Palm Beach Daily News.

The price recorded late Friday afternoon with thedeed for 905 N. Ocean Blvd. was$68.385 million. Recorded prices are often lower than contract pricesbecausethe latter may include items such as real estate commissions, fees and furnishings, real estate observers say. The buyer was not identified in the preliminary information about the transaction posted on the Palm Beach County Clerks website.

The sale of the seven-bedroom, Old Florida bungalow-style house marked one of thehighest recorded prices ever paid for a property north of the Palm Beach Country Club. It also is the second-most expensive never-lived-in house ever sold in Palm Beach, property records show.

With about 19,000 square feet of living space, inside and out, the house was completed last year on a direct-beachfront lot with about 125 feet of shoreline. The house has about 12,000 square feet of interior space and was completely furnished when it sold.

Measuring a little more than an acre, the lot is the second property north of the coastal roads curve around the north end of the Palm Beach Country Club.

The Palm Beach Daily News reported last week that Tepper had put the house under contract with the sellers, real estate investor Pat Carney and his wife, Lillian, who are longtime residents. Although the exact sales price at the time wasnt known, the Wall Street Journal initially reported that roughly $73 million would change hands in the sale.

>>MORE:Billionaire Tepper has North End house under contract for $70M-plus: sources, reports

David Tepper, who owns the Carolina Panthers football team, joins a string of hedge-fund billionaires and sports franchise owners who have bought properties in Palm Beach.

With a fortune estimated by Forbes at$13 billion, Tepper, 63, is the richest NFL team owner in the country. Forbes ranked him 41st on its latest list of the wealthiest 400 U.S. billionaires and described him as arguably the greatest hedge fund manager of his generation.

Tepper founded and heads Appaloosa Management, a global hedge fund based in Miami Beach, where he and his wife have a home. The couple also has longtime ties to New Jersey.

Tepper paid a reported $2.3 billion for the Carolina Panthers in 2018, two years after he movedhis company from New Jersey to Miami-Dade County. Before founding Appaloosa Management in 1993, he directed junk-bond operations at Goldman Sachs, according to Forbes.

>>MORE: Sale recorded at $122.7M seaside spec house sets new record in Palm Beach

Pat Carney is chairman and CEO of Claremont Cos., a real estate investment, development and asset-management company based in Bridgewater, Massachusetts. The Carneys own a lakefront house in Palm Beach that they use as their primary residence, although they spend summers in Massachusetts, Pat Carneypreviously told the Daily News.

The Carneys and the Teppers could not be reached for comment.

Agent Jim McCann of Premier Estate Properties has represented Carney in a number of real estate transactions. But McCann could not be reached to confirm if he was involvedin the sale of 905N. Ocean Blvd. The Daily News also could not confirm if an agent or agency handled the buyers side of the sale.

The design of the just-completed house bought by the Teppers and a new one next door to the south, developed by a different owner stirred controversy when they were reviewed over several months by the Architectural Commission in 2018. Neighbors vigorously complained that the initial designs were too large for their lots. Both projects were scaled down considerably before the board approved them.

Pat Carney told architectural commissioners he and his wife were going to build the house as a custom home for themselves as a change from their longtime home on the lake. But they were caught off-guard by the bitter opposition to the plans, especially from their neighbors immediately to the north, real estate developer Murray Goodman and his wife, Joannie. The Goodmans told town officials they were worried the new house would encroach on their privacy.

>>MORE:How two controversial houses finally won approval in Palm Beach

In March 2016, the Carneys had paid a recorded $14.57 million for their lot, which was sliced from a 2.3-acre property sold by a revocable trust in the name of late Lorraine Friedman, who had lived there in a 1970s-era residential compound with her late husband, Jack. TheFriedmans' house and several outbuildings all with distinctive blue-tile roofs had been razed by the time the Carneys closed on the property.

In a simultaneous deal orchestrated by Pat Carney, Palm Beach resident Keith Beaty and his son, Clark, bought the other half of the old Friedman estate for $14.57 million.

I had agreed to buy the whole parcel, Carney told the Daily News at the time of the sale. Then I invited the Beatys to participate.

>>MORE: Seaside estate being split in half sells for about $30M in Palm Beach

The Beaty family has since developed a house on speculation on the lot at 901 N. Ocean Blvd.The house wasjust listed for $84 million, furnished, by agent Christopher Deitz of William Raveis South Florida.

The land owned by the Carneys, Beatys and Goodmans wasonce part of Playa Riente, an elaborate1923 estate designed by noted society architect Addison Mizner and demolished in the late 1950s by its final owner, the late Anna Dodge Dillman.

>>MORE:New seaside spec mansion gets $84M price tag, furnished, in Palm Beach

The Teppers new house was described to the Architectural Commission by its designer, Daniel Menard of LaBerge & Menard, as having cottage-y style architecture with simple windows, deep eaves supported by brackets and broad tapered columns that recall the bungalows built during Palm Beachs early days.

Pat Carney has developed and sold a number of never-lived-in homes in Palm Beach. In March 2016 he sold for nearly $43.7 million a beachfront house he developed on speculation at 1695 N. Ocean Way. The sale marked the third never-lived-in, furnished mansion developed by Carney to change hands within the previous seven months. In all, those three sales two in Palm Beach and one in nearby Manalapan totaled $108.1 million.

>>MORE:Oceanfront spec mansion developed by Carney sells for nearly $44 million

McCann then of the Corcoran Group but today at Premier Estate Properties represented him in all of those sales.

In the 2016 sale at 1695 N. Ocean Way, hedge-fund manager Ken Tropin was the behind the entity that bought the house, and he later expanded the estate by buying the oceanfront property immediately to the south. Tropin was represented by agent Suzanne Frisbie, who later left the Corcoran Group to join McCann at Premier Estate Properties.

>>FROM THE ARCHIVES:Delaware entity pays $33M for Carney's new Manalapan estate

The other two spec homes sold within the seven-month period by Carney were a waterfront house in Manalapan at 800 S. Ocean Blvd., which sold to a Delaware-registered limited liability company for $33 million in September 2015; and a lakefront house in Palm Beach at 390 N. Lake Way, which sold in December 2015 for $31.4 million. In the latter deal, broker Steve Hall of Hall Real Estate acted on behalf of the buyer, an entity linked to Bain Capital/Private Equity executive Paul Edgerley and his wife, Sandra.

The most expensive sale of a house developed on speculation in Palm Beach closed last week at 535 N. County Road. That oceanfront mansion on 2 acres set a Florida sales record when it changed hands for a recorded $122.7 million in a sale previously reported by the Palm Beach Daily News. Broker Lawrence Moens of Lawrence A. Moens Associates had the listing. The buyer, said to be financier Scott Shleifer, worked with New York City broker Ryan Serhant of the concierge-style agency Serhant in collaboration with agent Christopher Leavitt of Douglas Elliman Real Estates Palm Beach brokerage. The house had been marketed with a price tag of$140 million.

>>FROM THE ARCHIVES:Lakefront spec home built by Carney sells for $31.4 million

*

This is a developing story. Check back for updates.

dhofheinz@pbdailynews.com

@PBDN_hofheinz

Go here to read the rest:
Billionaire Tepper on buyers side of Palm Beach mansion sale closed for as much as $73M: sources - Palm Beach Daily News