Latest news with #JimmyBaker
Yahoo
12-06-2025
- Business
- Yahoo
Alabama Community College System says it's concerned, prepared for federal funding cuts
The head of the Alabama Community College System speaks to board members at the system's monthly board meeting on June 11, 2025, at Snead State Community College in Boaz, Alabama. Jimmy Baker told board members that he is worried about budget cuts to federal student aid, but is prepared for a "soft landing."(Screenshot, ACCS YouTube) The head of the Alabama Community College System (ACCS) said Wednesday that he is concerned about potential cuts to federal financial aid, but also that the system has enough funds in reserve for a 'soft landing.' 'We see it as our mission to make sure that whatever happens at the federal level with the federal dollars, we can manage a soft landing, and we are in a position to do that,' ACCS Chancellor Jimmy Baker said at the monthly meeting of the ACCS Board of Trustees Wednesday morning. 'I don't like the idea that just because some legislation passes, we have to jump and threaten people with their jobs and those kinds of things.' President Donald Trump's budget proposal, passed in the U.S. House and currently awaiting action in the Senate, includes a 23% reduction to the federal Pell Grant and increasing credit hour eligibility from 12 to 15 hours. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX The Pell Grant is given to students based on their expected family contribution, among other academic factors, and often goes to students with 'exceptional financial need,' according to the Federal Student Aid Office. According to ACCS, its students receive an average of $4,300 in Pell Grants every year, about $500 less than the median ACCS yearly tuition. 'These would lead to some significant changes for our system, but we want our board to know that we are watching this closely, and we will see how this will play out,' Vice Chancellor of Student Success Neil Scott said. 'But we are already putting contingency plans in place for the areas that may impact our colleges.' Baker said he did not expect things to be 'pleasant.' 'It's not going to be easy. But I see the move with the federal dollars in education diminishing,' Baker said. 'So we have to adjust ourselves, and we can do a lot of that. We're going to do a lot of that because our ultimate mission is offering quality programs to the communities that we serve.' Despite threats to federal financial aid, Scott announced Wednesday that enrollment for the Fall 2025 semester is up 29.36% over Fall 2024, or 7,976 more students than last year. Scott said that brings the total enrollment to-date to 35,143 across the system's 24 colleges. 'And we still have a couple of colleges that haven't begun registration for the fall yet, but of the 22 colleges that do have fall registrations posted, 21 of those are showing a head count increase,' Scott said.
ABC News
10-06-2025
- Business
- ABC News
GFG Alliance workers across Australia face an uncertain future as Sanjeev Gupta's financial woes worsen
Months after British industrialist Sanjeev Gupta was effectively stripped of ownership of his South Australian steelworks, hundreds of workers at his New South Wales coal mine remain stood down, and those at his Tasmanian smelter are about to be. The uncertainty is causing anger and frustration. "The future looks grim," said Jimmy Baker, who has worked at the Tahmoor coal mine in NSW for the past 20 years. "I hope we're back and cutting coal in no time at all. But the longer it drags on, that looks grimmer and grimmer." Mr Baker is one of 560 workers affected by the indefinite shutdown. While workers have been stood down with pay since February, he says he's feeling the financial strain after having to forego hundreds of dollars in bonuses. "People think we're sitting at home [and] we're rich … [but] we're on basic pay," he told 7.30. "By the time I pay the mortgage, child support, you're down to $60 some weeks. The prolonged shutdown has also taken a significant toll on Mr Baker's mental health. "My biggest fear going forward is being 52 and jobless ... what company is going to hire a 52-year-old?" he said. "I find myself walking around the house or walking inside to outside. There are days where I really do struggle." Sanjeev Gupta is struggling to keep his global empire afloat amid poor economic conditions and the collapse of his major financier, Greensill Capital, in 2021. His credibility has also taken a massive hit. In February, the South Australian government took the extraordinary step of placing Mr Gupta's Whyalla steelworks into administration because bills weren't being paid. Trade and other creditors were found to be owed more than $1 billion. The South Australian and federal governments have pledged $2.4 billion to help secure the steelworks' future. Bob Timbs from the NSW Mining and Energy Union told 7.30 the Tahmoor mine shutdown was only meant to last weeks, not months. "We were of the understanding that it was only going to take a couple of weeks for them to realise the further capital investment from prospective investors and that never occurred," Mr Timbs said. Mr Timbs said government intervention was needed. "The coal produced at Tahmoor is a high-grade coal used for steel production," he said. "It's widely used in Port Kembla and for export and it's completely necessary for us to have the likes of washing machines, clothes dryers, cars; anything that's made out of steel is made with coal. "We need to get it operating again. For that reason, I call on the state government to intervene and arrange a tripartite meeting between Mr Gupta, the department and myself and other stakeholders to clearly explain when he's going to start that operation back up." The NSW government is owed royalty payments and the mine is in arrears with its water bills, a similar situation to what was faced by the SA government. In a statement, NSW Natural Resources Minister Courtney Houssos said she had been monitoring the situation at Tahmoor closely and that it was in "everyone's best interests for GFG to quickly resolve their financing" and end the uncertainty. 7.30 understands Ms Houssos has written to Mr Gupta demanding to know the progress of refinancing and when the mine will reopen, after a previous assurance that operations would restart by May 24 wasn't met. A spokesperson for GFG Alliance said it was working hard to secure the "funding required for a resumption of normal operations at Tahmoor Colliery". It said the "complex process has taken longer than expected" but it would "continue to work towards finalisation of this funding" and was hopeful it would be completed soon. In Tasmania, Mr Gupta's Liberty Bell Bay manganese smelter will stop operations for at least four weeks from the middle of this month. Most of the 250 workers there won't be required and are expected to use their leave entitlements. The company is largely blaming ore supply challenges after a cyclone affected its main supplier, South32 GEMCO, in the Northern Territory last year. Ore shipments have since resumed. Independent MP Andrew Wilkie told 7.30 he was very concerned another of Mr Gupta's operations was facing problems. "So why isn't (GEMCO) shipping ore out to Tasmania, or — and I just floated this as a genuine question — is there doubt in the mine owner's mind about the future capacity of Liberty Bell Bay or GFG Alliance more broadly to pay its bills for that ore?" Mr Wilkie told 7.30. GFG's statement said Liberty Bell Bay had made a "declaration for ore with South 32 GEMCO for the remaining six months of the year" and was "now working through the contractual process". "We are continuing to work closely with the federal and Tasmanian governments through a joint taskforce as we deal with the residual impact of inventory and market challenges over the last several months," the statement said. Andrew Taylor worked at the manganese smelter for 43 years before retiring 18 months ago. He's worried about his former colleagues. "They're salt of the earth people. It's not right," Mr Taylor told 7.30. He said people were nervous given what they'd seen happen at Whyalla and Tahmoor. "It is extremely stressful for people in the community, extremely stressful." University of Sydney corporate law and insolvency professor Jason Harris told 7.30 that since the collapse of Greensill Capital, Mr Gupta's GFG Alliance has faced increasing difficulty securing finance. "He's having to turn to second, third and fourth tier lenders," Professor Harris said. The UK's Serious Fraud Office is investigating the relationship between GFG Alliance and Greensill Capital over suspicions of fraud, fraudulent trading and money laundering. GFG Alliance has denied any wrongdoing. "One of the features of Mr Gupta's global empire is that it is very opaque ... so lots of companies that have dealings with each other and often not a lot of independent, transparent reporting of financial results," Professor Harris said. "We're seeing multiple entities in different group structures in often very different businesses that are all experiencing significant financial distress at the same time. "It certainly seems to be a house of cards. Professor Harris said Australian authorities like ASIC should be asking questions. "At some point, I think we're entitled to ask, where were the gatekeepers here? Why weren't more questions asked?" he said. "Because the media has certainly been asking questions about the sustainability of Mr Gupta's empire for years and yet creditors keep lending him money, governments keep giving him handouts, and I think the public is entitled to ask why." A spokesman for ASIC said it was aware of the situation regarding the Whyalla Steelworks and GFG Alliance and was "continuing to monitor and evaluate the situation". Watch 7.30, Mondays to Thursdays 7:30pm on ABC iview and ABC TV Do you know more about this story? Get in touch with 7.30 here.
Malaysian Reserve
19-05-2025
- Business
- Malaysian Reserve
B. Riley Securities Provides Business and Financial Update Following Carve-Out Transaction
LOS ANGELES, May 19, 2025 /PRNewswire/ — B. Riley Securities Holdings, Inc. ('B. Riley Securities,' 'BRS' or the 'Company'), a leading middle market investment bank, today provided a business and financial update following its previously announced carve-out transaction with B. Riley Financial, Inc. ('BRF'), and in anticipation of BRS' future filings of financial statements and quotation on the OTC Markets. Andy Moore, Chairman and Co-CEO, B. Riley Securities, stated:'We remain relentlessly focused on delivering for our clients. With our previously announced carve-out from BRF, we are able to provide greater financial transparency and a clearer view into the underlying strength of our business. We are committed to providing our stakeholders with increased visibility into our strategy and vision for value creation. Although transactional activity has been tempered by macro uncertainty, volatility has often presented compelling opportunities for us to gain market share with differentiated, client-focused execution. As a trusted partner to middle market companies and those who invest in them, we take a long-term view in positioning BRS for sustainable growth and maximizing shareholder value.' Jimmy Baker, Co-CEO & Head of Capital Markets at B. Riley Securities, commented:'We are proud of how our team navigated a challenging 2024. Over the course of last year, we raised $16.5 billion in debt and equity on behalf of our clients and expanded our capabilities in key areas including Convertibles and Liability Management. In addition, our advisory practice is now more closely aligned with our core clients' interests with a sharpened strategic focus on Capital Markets. We have also continued to invest in talent across Equity Research, Sales & Trading, and Investment Banking. It will take time for the full impact of our previously announced carve-out and the contribution of our new team members to materialize in our financial results. Our focus remains firmly on long-term value creation and making BRS a destination for top middle market talent while creating opportunities for growth and leadership within our firm.' Adjusted Year 2024 Financial HighlightsOn an adjusted basis, BRS delivered total revenue of $217.7 million, adjusted net revenue of $211.0 million, a net loss of $14.5 million, and adjusted net income of $33.1 million. The adjusted basis referred to gives effect to the March 2025 contributions of Cascadia Investments Inc. (OTCMKTS: CDIV) and other subsidiaries to BRS as part of the carve-out, as if those contributions had been completed on January 1, 2024. For a reconciliation of non-GAAP measures to their corresponding GAAP measures and additional disclosures, see 'Note Regarding Use of Non-GAAP Financial Measures' and the tables below. In January 2025, the Company repaid all $12.4 million of its outstanding debt. Reflecting primarily the impact of pre-carve out distributions to BRF, losses pertaining to a legacy investment, cash use in connection with year-end compensation and repayment of debt as discussed above, BRS stands completely debt-free with $68 million in cash and securities owned as of the carve-out effective date. About B. Riley Securities (BRS)BRS provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and liability management. Widely recognized for its thematic proprietary equity research, clients benefit from BRS' extensive network, industry expertise, and proven execution capabilities of its end-to-end financial services platform. For more information, visit Note Regarding Use of Non-GAAP Financial MeasuresCertain information set forth herein, including adjusted net revenue and adjusted net income (loss), may be considered non-GAAP financial measures. B. Riley Securities believes this information is useful to investors because it provides a basis for measuring the operating performance of the Company's business and its revenues and cash flow, (i) excluding in the case of adjusted net revenue, trading gains (losses) on legacy investment positions (net of 'regular way' fixed income trading revenue) and fair value adjustments on loans, and including Securities Lending interest expense and (ii) excluding in the case of adjusted net income, fair value adjustments, stock-based compensation, trading gains (losses) on legacy investment positions (net of 'regular way' fixed income trading revenue), fair value adjustments on loans and other investment-related expenses, and including the estimated related tax expense or benefit on the aforementioned adjustments, that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles ('GAAP'). In addition, the Company's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company's operating performance, management compensation, capital resources, and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Balance Sheet as of December 31, 2024 (Unaudited) (in thousands) B. Riley Securities,Inc. (1) Other wholly owned unaudited subsidiaries (2) As AdjustedB. Riley Securities Holdings, Inc. Assets: Cash and cash equivalents $ 40,926 $ 1,213 $ 42,139 Receivables 70,006 (36,298) 33,708 Securities borrowed 43,022 – 43,022 Securities owned, at fair value 77,758 938 78,696 Operating lease right of use asset 6,884 1,721 8,605 Goodwill and intangibles 113,914 24,990 138,904 Property and equipment, net 2,049 – 2,049 Prepaid expenses and other assets 2,387 – 2,387 Total assets $ 356,946 $ (7,436) $ 349,510 Liabilities: Securities loaned $ 27,942 $ – $ 27,942 Financial instruments sold, not yet purchased, at fair value 5,675 – 5,675 Note payable 12,379 – 12,379 Accrued compensation and benefits 26,822 253 27,075 Accounts payable and accrued expenses 16,021 (1,279) 14,742 Operating lease liabilities 8,293 2,288 10,581 Total liabilities 97,132 1,262 98,394 Equity 259,814 (8,698) 251,116 Total liabilities & equity $ 356,946 $ (7,436) $ 349,510 1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to B. Riley Securities Holdings, Inc. as if the March 2025 contribution was made on December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Statements of Operations Year Ended December 31, 2024 (Unaudited) (in thousands) B. Riley Securities, Inc. (1) Other wholly owned unaudited subsidiaries (2) As AdjustedB. Riley Securities Holdings, Inc. Revenues Investment banking: $ 146,887 $ 7,045 $ 153,932 Institutional brokerage (18,824) (556) (19,380) Interest 78,229 76 78,305 Other income 3,866 945 4,811 Total revenues $ 210,158 $ 7,510 $ 217,668 Expenses Compensation and benefits $ 117,745 $ 1,363 $ 119,108 Interest 66,518 – 66,518 Other operating expenses 47,947 3,456 51,403 Total expenses 232,210 4,819 237,029 Operating net income (loss) (22,052) 2,691 (19,361) Other income/expense – (515) (515) Net income (loss) before income taxes (22,052) 2,176 (19,876) Income tax (benefit) expense (5,954) 587 (5,367) Net income (loss) $ (16,098) $ 1,589 $ (14,509) 1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Reconciliation of GAAP to Adjusted Full Year 2024 Results (Unaudited) (in thousands) B. Riley Securities, Inc. (1) Other wholly owned unaudited subsidiaries (2) As AdjustedB. Riley Securities Holdings, Inc. Reconciliation of GAAP to adjusted financials: GAAP revenue $ 210,158 $ 7,510 $ 217,668 Adjustments: Legacy positions losses (gains) (3) 59,182 556 59,738 Loans at fair value 63 – 63 Committed equity facility gains (losses) – (515) (515) Total adjustments 59,245 41 59,286 Adjusted revenue 269,403 7,551 276,954 Securities lending interest expense (65,939) – (65,939) Adjusted net revenue (a non-GAAP figure) $ 203,464 $ 7,551 $ 211,015 Net income $ (16,098) $ 1,589 $ (14,509) Adjustments: Fair value adjustment of contingent acquisition consideration (379) – (379) Share based compensation 5,757 – 5,757 Legacy positions losses (gains) (3) 59,182 556 59,738 Loans at fair value 63 – 63 Income tax-effect of above non-GAAP adjustments and certain discrete tax items (17,448) (150) (17,598) Adjusted net income $ 31,077 $ 1,995 $ 33,072 1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. 3) Legacy investment positions held at BRS that are not, following the carve-out, part of BRS' go-forward strategy. Contact:Jo Anne McCuskerB. Riley Securitiespress@
Yahoo
19-05-2025
- Business
- Yahoo
B. Riley Securities Provides Business and Financial Update Following Carve-Out Transaction
LOS ANGELES, May 19, 2025 /PRNewswire/ -- B. Riley Securities Holdings, Inc. ("B. Riley Securities," "BRS" or the "Company"), a leading middle market investment bank, today provided a business and financial update following its previously announced carve-out transaction with B. Riley Financial, Inc. ("BRF"), and in anticipation of BRS' future filings of financial statements and quotation on the OTC Markets. Andy Moore, Chairman and Co-CEO, B. Riley Securities, stated:"We remain relentlessly focused on delivering for our clients. With our previously announced carve-out from BRF, we are able to provide greater financial transparency and a clearer view into the underlying strength of our business. We are committed to providing our stakeholders with increased visibility into our strategy and vision for value creation. Although transactional activity has been tempered by macro uncertainty, volatility has often presented compelling opportunities for us to gain market share with differentiated, client-focused execution. As a trusted partner to middle market companies and those who invest in them, we take a long-term view in positioning BRS for sustainable growth and maximizing shareholder value." Jimmy Baker, Co-CEO & Head of Capital Markets at B. Riley Securities, commented:"We are proud of how our team navigated a challenging 2024. Over the course of last year, we raised $16.5 billion in debt and equity on behalf of our clients and expanded our capabilities in key areas including Convertibles and Liability Management. In addition, our advisory practice is now more closely aligned with our core clients' interests with a sharpened strategic focus on Capital Markets. We have also continued to invest in talent across Equity Research, Sales & Trading, and Investment Banking. It will take time for the full impact of our previously announced carve-out and the contribution of our new team members to materialize in our financial results. Our focus remains firmly on long-term value creation and making BRS a destination for top middle market talent while creating opportunities for growth and leadership within our firm." Adjusted Year 2024 Financial HighlightsOn an adjusted basis, BRS delivered total revenue of $217.7 million, adjusted net revenue of $211.0 million, a net loss of $14.5 million, and adjusted net income of $33.1 million. The adjusted basis referred to gives effect to the March 2025 contributions of Cascadia Investments Inc. (OTCMKTS: CDIV) and other subsidiaries to BRS as part of the carve-out, as if those contributions had been completed on January 1, 2024. For a reconciliation of non-GAAP measures to their corresponding GAAP measures and additional disclosures, see "Note Regarding Use of Non-GAAP Financial Measures" and the tables below. In January 2025, the Company repaid all $12.4 million of its outstanding debt. Reflecting primarily the impact of pre-carve out distributions to BRF, losses pertaining to a legacy investment, cash use in connection with year-end compensation and repayment of debt as discussed above, BRS stands completely debt-free with $68 million in cash and securities owned as of the carve-out effective date. About B. Riley Securities (BRS)BRS provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring and liability management. Widely recognized for its thematic proprietary equity research, clients benefit from BRS' extensive network, industry expertise, and proven execution capabilities of its end-to-end financial services platform. For more information, visit Note Regarding Use of Non-GAAP Financial MeasuresCertain information set forth herein, including adjusted net revenue and adjusted net income (loss), may be considered non-GAAP financial measures. B. Riley Securities believes this information is useful to investors because it provides a basis for measuring the operating performance of the Company's business and its revenues and cash flow, (i) excluding in the case of adjusted net revenue, trading gains (losses) on legacy investment positions (net of "regular way" fixed income trading revenue) and fair value adjustments on loans, and including Securities Lending interest expense and (ii) excluding in the case of adjusted net income, fair value adjustments, stock-based compensation, trading gains (losses) on legacy investment positions (net of "regular way" fixed income trading revenue), fair value adjustments on loans and other investment-related expenses, and including the estimated related tax expense or benefit on the aforementioned adjustments, that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles ("GAAP"). In addition, the Company's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company's operating performance, management compensation, capital resources, and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Balance Sheet as of December 31, 2024 (Unaudited) (in thousands) B. Riley Securities,Inc. (1)Other wholly owned unaudited subsidiaries (2)As AdjustedB. Riley Securities Holdings, Cash and cash equivalents$ 40,926$ 1,213$ 42,139 Receivables70,006(36,298)33,708 Securities borrowed43,022-43,022 Securities owned, at fair value77,75893878,696 Operating lease right of use asset6,8841,7218,605 Goodwill and intangibles113,91424,990138,904 Property and equipment, net2,049-2,049 Prepaid expenses and other assets2,387-2,387 Total assets$ 356,946$ (7,436)$ 349,510 Liabilities: Securities loaned$ 27,942$ -$ 27,942 Financial instruments sold, not yet purchased, at fair value5,675-5,675 Note payable12,379-12,379 Accrued compensation and benefits26,82225327,075 Accounts payable and accrued expenses16,021(1,279)14,742 Operating lease liabilities8,2932,28810,581 Total liabilities97,1321,26298,394Equity259,814(8,698)251,116Total liabilities & equity$ 356,946$ (7,436)$ 349,5101) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to B. Riley Securities Holdings, Inc. as if the March 2025 contribution was made on December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Condensed Consolidated Statements of Operations Year Ended December 31, 2024 (Unaudited) (in thousands) B. Riley Securities, Inc. (1)Other wholly owned unaudited subsidiaries (2)As AdjustedB. Riley Securities Holdings, Inc. Revenues Investment banking:$ 146,887$ 7,045$ 153,932 Institutional brokerage(18,824)(556)(19,380) Interest78,2297678,305 Other income3,8669454,811 Total revenues$ 210,158$ 7,510$ 217,668Expenses Compensation and benefits$ 117,745$ 1,363$ 119,108 Interest66,518-66,518 Other operating expenses47,9473,45651,403 Total expenses232,2104,819237,029 Operating net income (loss)(22,052)2,691(19,361)Other income/expense-(515)(515) Net income (loss) before income taxes(22,052)2,176(19,876) Income tax (benefit) expense(5,954)587(5,367) Net income (loss)$ (16,098)$ 1,589$ (14,509)1) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. B. RILEY SECURITIES HOLDINGS, INC. Reconciliation of GAAP to Adjusted Full Year 2024 Results (Unaudited) (in thousands) B. Riley Securities, Inc. (1)Other wholly owned unaudited subsidiaries (2)As AdjustedB. Riley Securities Holdings, Inc. Reconciliation of GAAP to adjusted financials: GAAP revenue$ 210,158$ 7,510$ 217,668Adjustments: Legacy positions losses (gains) (3)59,18255659,738 Loans at fair value63-63 Committed equity facility gains (losses)-(515)(515) Total adjustments59,2454159,286 Adjusted revenue269,4037,551276,954 Securities lending interest expense(65,939)-(65,939) Adjusted net revenue (a non-GAAP figure)$ 203,464$ 7,551$ 211,015Net income$ (16,098)$ 1,589$ (14,509)Adjustments: Fair value adjustment of contingent acquisition consideration(379)-(379) Share based compensation5,757-5,757 Legacy positions losses (gains) (3)59,18255659,738 Loans at fair value63-63 Income tax-effect of above non-GAAP adjustments and certain discrete tax items(17,448)(150)(17,598) Adjusted net income$ 31,077$ 1,995$ 33,0721) Focus report audit of B. Riley Securities as of and for the year ended December 31, 2024. 2) Reflects the contribution of Cascadia Investments Inc. and other immaterial subsidiaries contributed to the group subsequent to December 31, 2024. 3) Legacy investment positions held at BRS that are not, following the carve-out, part of BRS' go-forward strategy. Contact:Jo Anne McCuskerB. Riley Securitiespress@ View original content to download multimedia: SOURCE B. Riley Securities Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
02-04-2025
- Washington Post
Never mind that this is a crime novel, ‘Bitterfrost' is all heart
Bryan Gruley has built a career writing about small towns with tragic names — Starvation Lake, Purgatory Bay, Bleak Harbor. He has conjured up another in Bitterfrost, which is also the title of his eighth book. The small northern Michigan town (population 3,000) is still reeling from the effects of a high-profile murderer, the 'claw-hammer killer,' when Jimmy Baker, a former minor league hockey player and current Zamboni driver, wakes one morning with no memory of the night before and blood on his hands. It doesn't help that Baker suffers from anger issues and, years earlier, nearly beat an opponent to death during a hockey game. Now he's the suspect in a double homicide and his only hope lies in the prowess of his defense attorney, Devyn Payne, and the close-to-retirement detective investigating the crime, Garth Klimmek, both of whom quickly realize there may be more to the case than the evidence suggests.
