Latest news with #Pershing
Forbes
13-06-2025
- Automotive
- Forbes
This Slick Sports Yacht Just Made Its Debut At The Venice Boat Show
The yacht was launched in March. Ferretti Group For yacht buyers with a need for speed, it's no secret that Italian brand Pershing is the premium choice. With a long history of high-quality construction and a focus on R&D that's backed by parent company and yachting giant Ferretti Group, the Italian brand is the industry leader for performance boats. But in the last few years, Pershing has been branching into yachts with a bit more focus on liveability. Built under the GTX Sport Utility series, the new line of lines is characterized by more waterfront real estate and an increased focus on comfort, space and longer voyages. Six guests are accommodated in three cabins. Ferretti Group In other words, the GTX line hasn't been made for zipping around Ibiza drinking champagne – this is a series for sun-slowed weekends around the quieter Balearics, sipping mojitos and soaking up the Mediterranean views. The latest model from the line just made its premiere at the Venice Boat Show. The show has long been a staple in the yachting calendar, giving yacht builders an alternative window to showcase their products outside of the busy September boat show season. It's also crucial for the Adriatic market and yacht builders like Pershing, which is based just nearby, in Mondolfo, are right at home in The Floating City. The highly anticipated GTX70, launched this spring in Fano, is the third and most compact entry in the marque's Sport Utility Yachts range. At 71.5-feet (or 21.8 meters), its delivery coincides neatly with the builder's 40th anniversary and its premiere at the 2025 Venice Boat Show got people talking. With a beam of 5.42 meters, the GTX70 is more than just a scaled-down version of its larger siblings. Developed in collaboration with the Ferretti Group's Product Strategy Committee led by Piero Ferrari, Vallicelli Design, and the Group's Engineering Department, the model features a new hull and construction process that blends the latest technology with classic Pershing craftsmanship. The result is a sleek, elegant vessel that stays true to the aggressive spirit of the GTX line with its clean lines, a slightly convex sheer, and a near-vertical bow. The focal point of the design is the unfolding bulwarks on the beach club that together create a 23 square meter oceanfront lounge right at the water's edge. Pershing takes it one step further with a lifting swim platform that expands the available space and also offers practical benefits like tender and Jet Ski launching (the recommended tender is a Williams 325 tender). Inside, the GTX70 punches well above its weight class in terms of volume and layout, thanks, in part, to the widebody design. The main deck's open-plan design connects the shaded cockpit lounge to the galley and forward salon via a clever up-down glass panel. Interior materials and lighting have been thoughtfully curated with touches of Nubuck leather and Pershing's signature sporty LED light bars. Attendees of the Venice Boat Show 2025 were given a chance to see inside – but those who weren't at the yacht show will have to wait until the official photoshoot is released. Below, the GTX70 offers accommodations for up to six guests in three en suite cabins, with a layout that maximizes both privacy and comfort. Above, the 16 square meter sportbridge offers sunbathing, alfresco dining, and command station zones, and is available with an optional electric Bimini top. Of course, no Pershing would be complete without performance credentials. Powered by triple 900 hp Volvo Penta D13 IPS1200 engines, the GTX70 is capable of reaching a top speed of 35 knots, with a comfortable cruising speed of 30 knots. During the boat show, the Salone Nautico Venezia organized special sea trials around the Venice Lido to give prospective buyers the chance to put the yacht's driveability and speed to the test. With its world premiere at one of the more boutique shows in the calendar, the Pershing GTX70 makes a bold statement: high-performance yachting can still offer space, comfort, and elegance, even at under 22 meters. It's a sleek, sea-going celebration of Pershing's four-decade legacy and a sign of exciting things to come for the GTX line.
Time Magazine
30-05-2025
- Climate
- Time Magazine
Why ‘Hundred-Year' Weather Events Are Happening More Than Once Every 100 Years
Climate change is leading not only to droughts, wildfires, and extreme weather. It's also leading to oxymorons—at least when it comes to what are known as hundred-year storms, floods, and other events. Long-term weather forecasting—the kind that predicts conditions months or even years or decades in advance—is all about probabilities, factoring together not only current conditions and trends, but the historical record. An area that has seen floods in the past when the spring was unusually rainy or tropical storms were unusually fierce, is likely to see them again if the same conditions recur. Ditto the likelihood of severe storms when the atmosphere is holding a lot of moisture and the oceans are atypically warm. Environmental scientists have gotten so good at reading weather history that they can characterize some severe storms or floods as likely to occur in a given area only once in 100 years—or even 500 years or a thousand years. That's where the oxymoron comes in. As climate change leads to greater meteorological volatility, the one in 100—or 500 or 1,000—year events are occurring twice or three times or more in those windows. Since 1999, there have been nine storms along the North Carolina coast that qualify as hundred or thousand year events. From 2015 to 2019, one suburb of St. Louis experienced three major floods, two of which met the criteria for hundred-year events. One study by the Montreal-based carbon removal project Deep Sky calculates that the frequency of deadly hurricanes has jumped 300%, with 100-year storms now forecast to occur once every 25 years. Climate change is also redefining what qualifies as one of these rare and intense events. 'In April, an extreme rainfall event hit the Mississippi Valley, including Arkansas, Mississippi, Kentucky, and Tennessee,' says climate scientist Andrew Pershing, chief program officer at Climate Central, an advocacy and communications group. 'Some of our colleagues at the World Weather Attribution group did a study and calculated that it was a 100-year event based on today's climate, but without climate change it would have been more like a 500-year event.' Making those kinds of calculations can take some doing—and a fair bit of data modeling—because climate unfolds over the course of millennia and modern weather and climate records barely go back a century. 'Scientists first look at 30 years of data, 50 years of data and figure out how frequently these events occur,' says Pershing. 'The challenge is that when you do that you're using data from the past when it was around two degrees cooler than it is now. When you start to do the calculations for today's climate, you find that events that you might expect to happen once every hundred years might happen once every 20 years.' The math here gets a little simpler. By definition, a hundred-year storm has a 1% likelihood of occurring in any one year; for a 500-year storm it's 0.2%; for a thousand years it's 0.1%. But every year the probability clock starts anew; if the 1% longshot comes in and a hundred-year storm occurs on the Carolina coast in 2025, that same area would typically have the same 1% chance in 2026—but climate change is making the likelihood even higher. 'It's not like you can calendar one of these events and say you're cool for another 100 years,' says Pershing. Driving the more frequent events is what Pershing describes as a 'thirstier' atmosphere, one that is hotter and thus capable of holding more moisture. 'We have a supercharged water cycle and that means that when you get a rain event it has a better chance of being a bigger event than it used to be,' says Pershing. Some of those bigger events could be coming soon—in the form of hurricanes. On May 22, the National Oceanic and Atmospheric Administration (NOAA) released its projections for storm severity in the 2025 Atlantic hurricane season, which runs from June 1 to November 30. NOAA did not attempt to predict 100- or 500- or thousand-year events, but it does see trouble looming. The agency projects a 60% chance of an above-average hurricane season, a 30% chance of an average season, and just a 10% chance of below average. Across the six hurricane months, NOAA predicts 13 to 19 named storms—with winds of 39 mph or higher—up to 10 of which will likely develop into hurricanes with winds of 74 mph or more. Up to five of those could be major hurricanes—category 3, 4, or 5, with winds of 111 mph or more. And the impact could extend far beyond the coastal regions that are usually hardest hit. 'As we witnessed last year with significant inland flooding from hurricanes Helene [in September] and Debby [in August], the impacts of hurricanes can reach far beyond coastal communities,' said acting NOAA administrator Laura Grimm in a statement. Things could get dicey not only in the Atlantic, but in the Pacific as well. Already, tropical storm Alvin is forming off the southwest coast of Mexico, two weeks ahead of the start of the eastern Pacific hurricane season. In addition to hurricanes, floods, and storms, heat waves, droughts, and wildfires can be projected out over centuries. 'A hotter atmosphere can hold more water, but if you squeeze that moisture out over a mountain range like what happens in the west, then you end up with a much drier air mass,' says Pershing. 'The atmosphere then wants to suck the moisture out of the ground and so droughts get more severe.' There's no easy fix for a feverish atmosphere. In the short run, adaptation—dikes and levees to protect flood-prone cities, relocating residences away from eroding coasts—can help. In the longer run, shutting off the greenhouse emissions that created the problem in the first place is the best and most sustainable bet for limiting hundred-year storms to their hundred-year timelines. 'We have to quit fossil fuels as fast as we can,' says Pershing. 'This will give the climate a chance to stabilize and us a chance to adjust.'
Yahoo
28-05-2025
- Business
- Yahoo
Billionaire Investor Bill Ackman Just Sold This Railway Stock 'With Regret' So He Could Buy the Dip on a Mag Seven Stock At a "Uniquely Attractive Time"
Bill Ackman has become one of the more popular investors to watch in today's market. The outspoken hedge fund billionaire runs a 10-stock portfolio valued at roughly $12 billion. Ackman sold a stock to make room for a Magnificent Seven stock that got hit hard by the tariff-induced sell-off. 10 stocks we like better than Amazon › Billionaire investor Bill Ackman has become one of the modern-day must-watch investors. Ackman runs Pershing Square Capital Management, which manages a stock portfolio for Pershing Square Holdings. Pershing's equity holdings are valued at roughly $12 billion, and Ackman has aspirations to turn Pershing into the next Berkshire Hathaway. This makes all of Ackman's moves incredibly interesting to market watchers, who are always trying to see what some of the best and brightest investors are up to. In the current quarter, Ackman and his team at Pershing recently disclosed that they sold one of their railway stocks "with regret" in order to purchase a Magnificent Seven stock at a "uniquely attractive time." Although these recent stock moves by Pershing likely won't show up in filings until August, Ackman, along with Pershing's management team, discussed them on a recent quarterly earnings call. The first big move Pershing disclosed was the decision to sell Canadian Pacific Kansas City (NYSE: CP), a Canadian railroad holding company. Pershing first purchased a stake in the business in 2022. The railway operates in Canada and the U.S., moving numerous commodities and consumer goods through 13,000 miles of rail that goes through areas such as Quebec, British Columbia, and the Northeast and Midwest regions of the U.S. In 2023, Canadian Pacific completed its $31 billion acquisition of Kansas City Southern to form this company, which also gave it access to transportation routes in Mexico. The acquisition made Canadian Pacific Kansas City the only railroad company with a single-line railway connecting Canada, the U.S., and Mexico. The stock has performed pretty well during the past five years, up close to 67% (as of May 23). During the call, Ackman said: "[T]his is one of those positions where we sell with regret, but want to be super clear that we think extremely highly of the Canadian Pacific team, [CEO] Keith [Creel] as a person and as a leader." Pershing's Chief Investment Officer Ryan Israel added that while Canadian Pacific is a "wonderful business... we judged actually it was one of the more sensitive businesses economically and to tariffs relative to the rest of the portfolio." Pershing already owns shares of Alphabet, but the reason the fund sold Canadian Pacific was so it could make room to buy Amazon (NASDAQ: AMZN) at a "uniquely attractive time," according to Israel. Israel noted that Pershing's approach involves following hundreds of businesses that the fund would like to own when the price and potential returns become attractive. Amazon fell into that bucket after the sell-off in April. Pershing likes the fact that Amazon has two strong businesses with the retail e-commerce platform, as well as Amazon Web Services (AWS). AWS services the cloud needs of other companies in a more efficient manner than companies could do so on their own, according to Israel: Amazon is sort of the 800-pound gorilla in that business (cloud), where there's only three players and they have over 40% market share, and we think the future is incredibly bright for that business... less than 20% of all of the IT workloads are actually in the cloud today. We think going forward maybe as much as 80%... should be in those types of environments. So that part of the business is amazing. While AWS might be the big draw for many, Israel said Pershing really likes the revenue diversity and also appreciates the scale Amazon has been able to amass for both businesses, which creates higher profit margins. In the first quarter of the year, AWS revenue rose 17% year over year. Furthermore, Chief Executive Officer Andy Jassy previously said he thinks that many sellers on its platform would be able to pass some of the higher costs from tariffs on to consumers. While Amazon has significant exposure to China, tensions have de-escalated somewhat with both countries lowering tariff rates. Trading at less than 34 times forward earnings, Amazon's valuation is much lower than its five-year average of 39. Consumer spending on the platform may slow in a recessionary environment, but I'd expect the company to be able to navigate most economic environments, and the promise of the AWS business alone makes the stock appealing. Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Amazon 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 $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% 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 May 19, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Berkshire Hathaway, and Canadian Pacific Kansas City. The Motley Fool has a disclosure policy. Billionaire Investor Bill Ackman Just Sold This Railway Stock 'With Regret' So He Could Buy the Dip on a Mag Seven Stock At a "Uniquely Attractive Time" was originally published by The Motley Fool
Yahoo
28-05-2025
- Business
- Yahoo
Billionaire Investor Bill Ackman Just Sold This Railway Stock 'With Regret' So He Could Buy the Dip on a Mag Seven Stock At a "Uniquely Attractive Time"
Bill Ackman has become one of the more popular investors to watch in today's market. The outspoken hedge fund billionaire runs a 10-stock portfolio valued at roughly $12 billion. Ackman sold a stock to make room for a Magnificent Seven stock that got hit hard by the tariff-induced sell-off. 10 stocks we like better than Amazon › Billionaire investor Bill Ackman has become one of the modern-day must-watch investors. Ackman runs Pershing Square Capital Management, which manages a stock portfolio for Pershing Square Holdings. Pershing's equity holdings are valued at roughly $12 billion, and Ackman has aspirations to turn Pershing into the next Berkshire Hathaway. This makes all of Ackman's moves incredibly interesting to market watchers, who are always trying to see what some of the best and brightest investors are up to. In the current quarter, Ackman and his team at Pershing recently disclosed that they sold one of their railway stocks "with regret" in order to purchase a Magnificent Seven stock at a "uniquely attractive time." Although these recent stock moves by Pershing likely won't show up in filings until August, Ackman, along with Pershing's management team, discussed them on a recent quarterly earnings call. The first big move Pershing disclosed was the decision to sell Canadian Pacific Kansas City (NYSE: CP), a Canadian railroad holding company. Pershing first purchased a stake in the business in 2022. The railway operates in Canada and the U.S., moving numerous commodities and consumer goods through 13,000 miles of rail that goes through areas such as Quebec, British Columbia, and the Northeast and Midwest regions of the U.S. In 2023, Canadian Pacific completed its $31 billion acquisition of Kansas City Southern to form this company, which also gave it access to transportation routes in Mexico. The acquisition made Canadian Pacific Kansas City the only railroad company with a single-line railway connecting Canada, the U.S., and Mexico. The stock has performed pretty well during the past five years, up close to 67% (as of May 23). During the call, Ackman said: "[T]his is one of those positions where we sell with regret, but want to be super clear that we think extremely highly of the Canadian Pacific team, [CEO] Keith [Creel] as a person and as a leader." Pershing's Chief Investment Officer Ryan Israel added that while Canadian Pacific is a "wonderful business... we judged actually it was one of the more sensitive businesses economically and to tariffs relative to the rest of the portfolio." Pershing already owns shares of Alphabet, but the reason the fund sold Canadian Pacific was so it could make room to buy Amazon (NASDAQ: AMZN) at a "uniquely attractive time," according to Israel. Israel noted that Pershing's approach involves following hundreds of businesses that the fund would like to own when the price and potential returns become attractive. Amazon fell into that bucket after the sell-off in April. Pershing likes the fact that Amazon has two strong businesses with the retail e-commerce platform, as well as Amazon Web Services (AWS). AWS services the cloud needs of other companies in a more efficient manner than companies could do so on their own, according to Israel: Amazon is sort of the 800-pound gorilla in that business (cloud), where there's only three players and they have over 40% market share, and we think the future is incredibly bright for that business... less than 20% of all of the IT workloads are actually in the cloud today. We think going forward maybe as much as 80%... should be in those types of environments. So that part of the business is amazing. While AWS might be the big draw for many, Israel said Pershing really likes the revenue diversity and also appreciates the scale Amazon has been able to amass for both businesses, which creates higher profit margins. In the first quarter of the year, AWS revenue rose 17% year over year. Furthermore, Chief Executive Officer Andy Jassy previously said he thinks that many sellers on its platform would be able to pass some of the higher costs from tariffs on to consumers. While Amazon has significant exposure to China, tensions have de-escalated somewhat with both countries lowering tariff rates. Trading at less than 34 times forward earnings, Amazon's valuation is much lower than its five-year average of 39. Consumer spending on the platform may slow in a recessionary environment, but I'd expect the company to be able to navigate most economic environments, and the promise of the AWS business alone makes the stock appealing. Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Amazon 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 $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% 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 May 19, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Berkshire Hathaway, and Canadian Pacific Kansas City. The Motley Fool has a disclosure policy. Billionaire Investor Bill Ackman Just Sold This Railway Stock 'With Regret' So He Could Buy the Dip on a Mag Seven Stock At a "Uniquely Attractive Time" was originally published by The Motley Fool
Yahoo
19-05-2025
- Politics
- Yahoo
Reagan admin official who helped America defeat communism dead at age 83
Michael A. Ledeen, a major American historian and intellectual, died after suffering a series of small strokes on Sunday at his daughter's house in Texas. He was 83 years old. Ledeen was a vigorous participant in contributing to the demise of the communist Soviet Union and its Iron Curtain allies in Eastern Europe. Ledeen served as a special advisor on terrorism to President Ronald Reagan's secretary of state, Alexander Haig, and later worked as a consultant for the National Security Council. Writing for the Asia Times, author and journalist David P. Goldman argued that Ledeen's "personal contribution to America's victory in the Cold War is far greater than the public record shows." Goldman noted that the Reagan administration, in 1983, sent Ledeen, a scholar of Italian history and fascism, to meet Italian Prime Minister Bettino Craxi to convince the Italian leader to allow the U.S. to deploy Pershing missiles to counter rising Soviet jingoism. Goldman added, "The incident reflects the high trust that Ledeen commanded in the Reagan administration and the strategic role that he played." Trump Says Us Has Given Iran Proposal For Nuclear Deal After Italy accepted the Pershings, the then-Social Democratic German Chancellor Helmut Schmidt, who was reluctant for his nation to be first to house Pershing missiles, agreed to Reagan's demand. Leeden was a fan of former anti-communist American philosopher Sidney Hook, who declared during the Cold War that "Freedom is a fighting word." Read On The Fox News App Ledeen would take his hard-charging world view against a new set of U.S. enemies after the ground zero of communism was defeated: radical Islamism in Iran, North Korea's totalitarian regime, and Arab and Latin American despots bent on the eradication of the U.S. In 2003, while working as the resident scholar in the Freedom Chair at the American Enterprise Institute, Ledeen wrote about former President George W. Bush's Axis of Evil (Iran, North Korea and Iraq), "Most commentators ridiculed the very idea of the Axis of Evil, just as they laughed at Reagan's description of the Soviet Union as an Evil Empire. The deep thinkers laughed at Reagan, and then somberly warned that such language was not only misguided but provocative, as if the Kremlin would be more aggressive as a result of the president's speech." Ledeen stressed the importance of American leadership breeding inspiration among dissidents trapped in totalitarian systems: "The greatest of the Soviet freedom fighters, from [Vladimir] Bukovsky to [Natan] Sharansky, have since written about the surge of hope they felt when they saw that the American president understood why they were fighting." He would bring his same intellectual freedom toolkit to his principal worry in this century: the Islamic Republic of Iran. Ledeen garnered enormous respect and praise from Iranian dissidents seeking to dissolve the theocratic regime in Tehran, the world's worst state-sponsor of terrorism, according to the U.S. State Department. His wife, Barbara, told Fox News Digital about her late husband, "My only regret is that he didn't outlive the regime." Iran's Long Trail Of Deception Fuels Skepticism Over New Nuclear Deal As Talks Continue Leeden did not advocate military intervention in Iran. He was in the business of replicating Reagan's anti-Soviet playbook for Iran's clerical regime. He told Fox News Brit Hume in 2005 that "the Western world, and in particular the United States" needs to support political prisoners in Iran and demonstrations against the regime. He told Hume, "We should be giving money to the various ... Farsi-language broadcasters, some here, some in England, some in Sweden and so forth, some in Germany, to go on the air and share with the Iranian people the now-demonstrated techniques for a successful, nonviolent revolution." He coined the phrase "Faster, please!" for his widely read blog at PJ Media to denote the great urgency to dismantle America's enemies and stop Islamist-animated terrorism. Israel's Prime Minister, Benjamin Netanyahu, paid tribute to Ledeen in a post on X. He wrote in part, "Michael's understanding of the American people and the Jewish people formed the basis of his abiding faith in the future of America and Israel and in our enduring alliance and friendship." Ledeen was born in Los Angeles in 1941 and authored numerous books on national security, including "Perilous Statecraft: An Insider's Account of the Iran-Contra Affair." He earned a Ph.D. in history and philosophy from the University of Wisconsin–Madison. His academic advisor at Wisconsin was the prominent historian George Mosse, who fled Nazi Germany because of antisemitism. Ledeen cultivated a new generation of academics, journalists, think tank scholars and authors at his Chevy Chase home. His residence became a kind of informal salon for intellectuals and foreign policy types who had freshly arrived in Washington, D.C. He was also a top-level bridge player and won a national championship, the Truscott/U.S.P.C. Senior Teams. He is survived by his wife, a daughter, Simone, who served as a deputy assistant secretary of defense during the first Trump administration, and his two sons, former Marine Corps officers Gabriel and article source: Reagan admin official who helped America defeat communism dead at age 83
