logo
Auction of pope's house in Dolton extended, judge denies restraining order blocking village acquisition attempt

Auction of pope's house in Dolton extended, judge denies restraining order blocking village acquisition attempt

Chicago Tribune4 days ago

An auction that seeks to find a possible buyer for Pope Leo XIV's childhood home in Dolton has been extended a month while a federal judge Wednesday declined to block the village from its own attempt to acquire the property.
Lavelle Redmond, a former Dolton employee, had asked the judge for a temporary restraining order stopping the village from using taxpayer money to buy the home, where Robert Francis Prevost lived with his parents and sibilings for many years.
U.S. District Judge Mary Rowland ruled Wednesday that Redmond lacked standing and denied the motion, according to Matthew Custardo, Redmond's attorney.
'While this particular legal avenue may have closed, the underlying issues of transparency and the village of Dolton's priorities remain important and aren't going away,' the attorney said after the judge's ruling.
An auction of the home by New York-based Paramount Realty USA had been scheduled to close by Wednesday afternoon but was extended to 4 p.m. Chicago time July 17, according to Paramount's website. A reserve price of $250,000 is set for the home.
Mayor Jason House has said the village may attempt to acquire the home through negotiations with the owner, and has also raised the possibility of using eminent domain and going to court to gain ownership of the house at 212 E. 141st Place.
Prevost lived in the home from his birth in 1955, and his parents lived there until they sold it in 1996. Since Prevost was named the leader of the Roman Catholic Church May 8, the house has drawn significant interest from onlookers, prompting Dolton officials to have regular police patrols on the block.
Steve Budzik, a real estate broker representing the home's owner, said Monday the owner is open to a sale while at the same time considering bids being submitted through the auction house.
He said Monday he expected the owner would make a decision soon, once the auction deadline had passed, to make a decision on which direction he would take.
Budzik was not immediately available Wednesday to comment on the extension of the auction.
Redmond, who has an ongoing lawsuit against Dolton alleging wrongful termination in 2022, sought the temporary restraining order.
The motion seeking the restraining order alleged the village, in seeking to buy the home, is engaging in an 'endeavor with substantial cost to taxpayers with no compelling governmental necessity.'
Redmond said in the filing that Dolton 'is in severe financial distress, running large deficits while drowning in liabilities' including pending court decisions and unpaid vendor bills.
House and Burt Odelson, an attorney for the village, have said that while Dolton's finances are shaky it is important for the village to gain control over the house, which could prevent any commercial use or exploitation of it.
Odelson was not immediately available Wednesday to discuss the result of the court hearing or the status of Dolton's effort to acquire the home.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Should You Buy Roblox Stock After Its Surge to $100?
Should You Buy Roblox Stock After Its Surge to $100?

Yahoo

time24 minutes ago

  • Yahoo

Should You Buy Roblox Stock After Its Surge to $100?

Roblox has doubled over the last few months, with a new experience driving strong engagement. The platform is growing much faster than those of leading game makers. The stock looks expensive, but Roblox could sustain double-digit revenue growth for several years. 10 stocks we like better than Roblox › Roblox (NYSE: RBLX) is one of the surprise breakout stocks of 2025. This top gaming stock has nearly doubled since the beginning of April and recently was sitting close to a 52-week high. The company has posted more than 20% quarterly revenue growth on a year-over-year basis for seven consecutive quarters. It seems well positioned to keep the momentum going based on the popularity of a new game, Grow a Garden, that is trending on the platform right now. Roblox is the best video game stock to hold for the long term. While its run this year has lifted the valuation to expensive-looking multiples of sales and free cash flow, the company's growth prospects make the stock a compelling buy. Roblox has been growing revenue much faster than the big video game companies like Nintendo, Electronic Arts, and Take-Two Interactive. Roblox also has a much different business model than these companies, which explains why it's growing faster. What makes Roblox such a powerful platform for growth is its user-created content strategy. This is a lower-risk strategy than that of big game publishers like Take-Two, which take on the risk of spending millions of dollars to make a game. Roblox pays earnings (developer exchange fees) to the creators with the most engaging content. This makes up around a quarter of the company's revenue. This isn't an expense as much as an investment in content production, similar to how Netflix spends billions on content every year and attracts a large audience. Over the last four quarters, Roblox spent $1 billion in developer exchange fees while generating $3.8 billion in revenue. More content attracts more users. Roblox's daily active users grew 26% year over year to 97.8 million in the first quarter. What's interesting is that the platform is starting to attract older kids. In the first quarter, 62% of daily active users were older than 13, and this percentage has been trending higher in recent years. This broadens Roblox's addressable market and increases its growth opportunity. The success of Grow a Garden, which currently has more than 2 million players spending time with the game every day, shows why Roblox could be a compelling growth stock to hold for the long term. Its large pool of content creators can release an engaging new experience like this at any time that attracts more players and drives upside to revenue. Management is targeting more than 20% compound annual growth in revenue through at least 2027. It believes it can capture 10% of the $180 billion annually spent on video games over the long term. One trend supporting favorable long-term prospects is the video game industry's historical growth with technological advancement. For example, Roblox could benefit from innovation in virtual reality, artificial intelligence, and continued improvement in graphics technology. The biggest risk for the stock in 2025 is its high valuation. The stock currently trades at a high price-to-sales ratio of 17.5. Even taking into account its growing free cash flow, the stock trades at a valuation of 76 times trailing free cash flow. At these high multiples, investors should be prepared for a pullback, especially after hitting a milestone $100 share price, which could serve as an excuse for traders on Wall Street to take profits. Any dip in the share price in the near term is a buying opportunity for long-term investors. Roblox still has other growth catalysts on the horizon, such as digital ads. It just announced a partnership with Alphabet's Google Ads to launch video ad formats on the platform, which bolsters Roblox's opportunity in the $700 billion digital ad market. Roblox brings together two powerful growth drivers on a single platform -- growing demand for interactive entertainment and social media. Many players like Roblox because they get to socially connect with others while engaging in fun experiences. This dynamic could carry the company a long way. Before you buy stock in Roblox, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Roblox wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor's total average return is 994% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Netflix, Roblox, and Take-Two Interactive Software. The Motley Fool recommends Electronic Arts and Nintendo. The Motley Fool has a disclosure policy. Should You Buy Roblox Stock After Its Surge to $100? was originally published by The Motley Fool

Insider predicts which New York Jets stars receive contract extensions, including Sauce Gardner
Insider predicts which New York Jets stars receive contract extensions, including Sauce Gardner

Yahoo

time25 minutes ago

  • Yahoo

Insider predicts which New York Jets stars receive contract extensions, including Sauce Gardner

The New York Jets are a team in transition led by first-year head coach Aaron Glenn and general manager Darren Mougey. With a roster centered around a young core of Garrett Wilson, Breece Hall and Sauce Gardner, only a few may receive contract extensions from the new regime. Asked to weigh in on the situation, Albert Breer of Sports Illustrated said he thinks Gardner and Wilson would receive real consideration for extensions right now and both deals could get done. However, a new deal for Hall isn't nearly as likely. Advertisement Related: New York Jets' Allen lazard's stance on playing for Pittsburgh Steelers, Aaron Rodgers 'If I had to guess, Sauce Gardner and Garrett Wilson would be considered for extensions now—and I do think there's a chance at least Gardner and maybe Wilson still get done. With Breece Hall, I think they'd explore it, but signing a back long-term can be tricky. I think with Johnson coming off an injury, they'll probably play it out, knowing they can tag him if he plays to his potential. Sports Illustrated's Albert Breer on future contract extensions for New York Jets stars Both Wilson and Gardner would likely command deals that would make them among the highest-paid NFL players at their respective positions. Even coming off a down year, Gardner could push for $30 million annually given his track record as a two-time All-Pro selection. Garrett Wilson stats (2024): 101 receptions, 1,104 receiving yards, 7 touchdowns While Wilson hasn't received a Pro Bowl selection since being selected with the 10th overall pick in the 2022 NFL Draft, he's delivered three consecutive 1,000-yard seasons despite poor quarterback play. As with cornerbacks, the going rate for No. 1 receivers is now pushing toward $30 million annually. Related: Jets insider sheds light on likely cost of Sauce Gardner contract extension Sauce Gardner stats (2024): 86.9 QB rating, 541 receiving yards, 15.4 yards per completion allowed on 58 targets in 15 games Advertisement Wilson and Gardner have both showcased the talent and durability to be building blocks for the Jets' future. The same can't be said for Hall. While he is coming off consecutive campaigns with over 1,300 scrimmage yards, long-term durability remains a concern and he ranked 39th in true yards per carry (4.0) last season. Furthermore, Hall seemed to be floated in trade rumors this offseason and the Jets at the very least scouted the rookie running back class. While contract extensions seem likely for Gardner and Wilson, Hall will have to prove himself to receive a long-term deal. Related: New York Jets reportedly could target specific position in free agency Related Headlines

FedEx founder Fred Smith, a Marine Corps veteran who revolutionized package delivery, dies at 80
FedEx founder Fred Smith, a Marine Corps veteran who revolutionized package delivery, dies at 80

The Hill

time36 minutes ago

  • The Hill

FedEx founder Fred Smith, a Marine Corps veteran who revolutionized package delivery, dies at 80

MEMPHIS, Tenn. (AP) — Fred Smith, the FedEx Corp. founder who revolutionized the express delivery industry, has died, the company said. He was 80. FedEx started operating in 1973, delivering small parcels and documents more quickly than the postal service. Over the next half-century, Smith, a Marine Corps veteran, oversaw the growth of a company that became something of an economic bellwether because so many other companies rely on it. Memphis, Tennessee-based FedEx became a global transportation and logistics company that averages 17 million shipments per business day. Smith stepped down as CEO in 2022 but remained executive chairman. Smith, a 1966 graduate of Yale University, used a business theory he came up with in college to create a delivery system based on coordinated air cargo flights centered on a main hub, a 'hub and spokes' system, as it became known. The company also played a major role in the shift by American business and industry to a greater use of time-sensitive deliveries and less dependence on large inventories and warehouses. Smith once told The Associated Press that he came up with the name Federal Express because he wanted the company to sound big and important when in fact it was a start-up operation with a future far from assured. At the time, Smith was trying to land a major shipping contract with the Federal Reserve Bank that didn't work out. In the beginning, Federal Express had 14 small aircraft operating out of the Memphis International Airport flying packages to 25 U.S. cities. Smith's father, also named Frederick, built a small fortune in Memphis with a regional bus line and other business ventures. Following college, Smith joined the U.S. Marines and was commissioned a second lieutenant. He left the military as a captain in 1969 after two tours in Vietnam where he was decorated for bravery and wounds received in combat. He told The Associated Press in a 2023 interview that everything he did running FedEx came from his experience in the Marines, not what he learned at Yale. Getting Federal Express started was no easy task. Overnight shipments were new to American business and the company had to have a fleet of planes and a system of interconnecting air routes in place from the get-go. Though one of Memphis' best-known and most prominent citizens, Smith generally avoided the public spotlight, devoting his energies to work and family. Despite his low profile, Smith made a cameo appearance in the 2000 movie 'Castaway' starring Tom Hanks. The movie was about a FedEx employee stranded on an island. 'Memphis has lost its most important citizen, Fred Smith,' said U.S. Rep. Steve Cohen of Tennessee, citing Smith's support for everything from the University of Memphis to the city's zoo. 'FedEx is the engine of our economy, and Fred Smith was its visionary founder. But more than that, he was a dedicated citizen who cared deeply about our city.' Smith rarely publicized the donations he and his family made, but he agreed to speak with AP in 2023 about a gift to the Marine Corps Scholarship Foundation to endow a new scholarship fund for the children of Navy service members pursuing studies in STEM. 'The thing that's interested me are the institutions and the causes not the naming or the recognition,' Smith said at the time. Asked what it means to contribute to the public good, he replied: 'America is the most generous country in the world. It's amazing the charitable contributions that Americans make every year. Everything from the smallest things to these massive health care initiatives and the Gates Foundation and everything in between,' he said. 'I think if you've done well in this country, it's pretty churlish for you not to at least be willing to give a pretty good portion of that back to the public interest. And all this is in the great tradition of American philanthropy.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store