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“Cassoulet, that best of bean feasts, is everyday fare for a peasant but ambrosia for a gastronome.” ~ Julia Child When winter heads our way, bringing chilly temperatures and close, dark nights, my thoughts turn to Cassoulet, the iconic comfort food from southwestern France. It has it all – juicy beans, duck leg confit, sausages and sometimes pork or lamb, slowly simmered in well-seasoned broth, then baked in a wide-mouthed, glazed terra-cotta dish called a cassole . Like any truly traditional dish, there are multiple versions, all claiming to be the “authentic one.” Cassoulet originated in southwestern France. Toulouse claims it — and so does Castelnaudary and Carcassonne — and the recipes vary. Toulouse adherents eschew adding cubed pork. Castelnaudary purists add a bit of lamb, while Carcassonne’s adds partridge. In most restaurants, cassoulets are served in an individual cassole , bubbling with hot juices,and with a bit of duck leg peeking through the top. But at Hostellerie Etienne , a vast indoor- outdoor restaurant on the edge of a forest near Castelnaudary, the cassoulets come to the table in family-size cassoles , big enough to serve two, four, six or even 10 people, so you can share the dish with your dining companions. I don’t know if Etienne’s even has a single-serving bowl size. I didn’t see one, when I was there as the guest of a bean trader from Castelnaudary. According to him, Etiennne’s has the best cassoulet anywhere, and they use the Lauragais lingot beans known as the Castelnaudary bean. Copious doesn’t begin to describe the cassoulet scene there, with stacks of cassoles lined up in Etienne’s kitchen, next to caldrons of simmering beans, ready to be filled and popped into the vast ovens. Here in the Bay Area, we have our own go-to restaurants for cassoulets. Some, like the Left Bank Brasseries in San Jose, Menlo Park, Oakland and Larkspur, and Reve Bistro in Lafayette, only serve it during the winter months as a special. (Reve will be serving cassoulet Dec. 10-14, for example, and Jan. 7-11; reserve it when you reserve your table.) Others, such as Bistro Jeanty in Yountville and Le Central in San Francisco, always have it on the menu. Both Reve Bistro and Bistro Jeanty use cassoles made by potter Kathy Kernes at her Crockett Pottery in Crockett, and they are every bit as beautiful and as practical as those you’ll find in southwestern France. Kernes’ makes cassoles in six sizes ($38-$210), ranging from individual to “extra large plus,” which is very large indeed. (Browse the possibilities at www.crockettpottery.com.) Reve Bistro offers take-out cassoulets if you pre-order the week the dish is on the menu. Pick it up — in a takeout container, not a cassole! — then heat it at home. Just note that chef-owner Paul Magu-Lecugy only makes a limited number of portions. “It’s time consuming,” he says, noting for him, it is a two-day process. Le Central’s cassoulet is one of the more elaborate around, with lamb, pork shoulder and boudin blanc, as well as the all-important duck leg confit and slightly garlicky Toulouse sausage. Left Bank uses chef-owner Roland Passot’s recipe (see below) and keeps it simple, limiting the meats to duck leg confit and Toulouse sausages. (Don’t panic. If you’re making this at home, some specialty markets sell duck confit.) The beans are key to cassoulet. Once cooked, they should not be mushy, but hold their shape after the long cooking. In France, tradition calls for either Tarbais beans, a plump, white bean, or lingot beans — a strain of cannellini beans — in making cassoulet. As Passot suggests in his recipe below, you can substitute cannellini beans or Great Northern beans. Rancho Gordo produces a variety called cassoulet , a West Coast-grown bean from the Tarbais strain. Cassoulet isn’t difficult to make. It just requires time and patience. You can make it a couple of days ahead, refrigerate it and then slowly reheat it. That way, there’s nothing to do on the day of but sip a glass of wine while the beans and meats slowly heat to bubbling. Add a green salad and some crusty bread, and you’ll have the perfect winter meal. Or put your coat on and head to one of our local restaurants, where the cooking is done for you. All you need is a reservation. Serves 6 to 8 Beans: 4 cups dried lingot beans (white kidney, cannellini or Great Northern, will all work) 1 small carrot, peeled and chopped 1 small onion, diced (about 3⁄4 cup) 1 clove garlic, chopped 1 pound slab bacon or extra thick-cut bacon, cut into 1-inch cubes 2 sprigs of thyme 1 bay leaf Cassoulet: 1⁄4 cup duck fat (lard will do in a pinch) 2 pounds pork butt cut in 2-inch cubes 1 cup onions, diced small 4 cloves garlic, chopped 1⁄4 cup tomato paste 1 small can diced tomatoes 11⁄2-2 cups reserved bean water 6 Toulouse sausages 1 small garlic sausage 4 confit duck legs, purchased or homemade (see note below) 1 cup panko bread crumbs 1 teaspoon garlic, chopped 1 tablespoon parsley, chopped 1⁄4 teaspoon fresh thyme, chopped 1 tablespoon extra virgin olive oil Note: If you are making your own duck confit, start the night before by rubbing the duck legs with a “green salt” mixture — kosher salt, parsley, a couple of bay leaves and thyme ground together. The next day, rinse the duck legs well, pat dry and place in an oven-safe cooking vessel with enough duck fat to cover the legs. Roast in a 225-degree oven for 21⁄2 to 3 hrs. The night before, place the beans in a deep pot and add enough water to cover by 2 inches. Let beans soak overnight. The next day, rinse the beans well. Add the rinsed beans, carrots, onions, garlic, bacon, thyme and bay leaf to cold water and cook, over low heat, until the beans are tender. Strain the beans, saving the water, and set aside the beans. In a large braising pan, melt the duck fat over medium high heat. Once the pan is hot, brown the pork butt pieces without stirring. When beginning to brown, start stirring, making sure you scrape the bottom if it starts to caramelize. The pork doesn’t need much color, but it does need to cook in the duck fat for a while. Add lots of salt and pepper. This is not a shy dish. When the pork is nice and brown on all sides, add the 1 cup onions and garlic, and sauté until the onions are soft and cooked through. Add the tomato paste, diced tomatoes and reserved liquid from the beans. Stir, using a rubber spatula to clean the side of the pot. Preheat your oven to 250 degrees. Bring the heat under the braising pan up to high. Once at a rolling boil, turn down to low heat and add all the sausages. When they are cooked through, remove and set aside. Slice the garlic sausage in half and cut into 1-inch pieces. Return the whole and sliced sausages back to the pot along with the cooked beans. Continue to cook on low heat until the pork is cooked through. Taste for seasoning; add more salt and pepper if needed. Transfer the beans and pork to a heavy, wide mouth, earthenware, clay or cast iron baking dish that can hold 5 to 6 quarts. Bake at 250 degrees for about 11⁄2 hours, checking at least every 30 minutes. It may require a bit more time. If the dish is starting to look too dry, add a small amount of reserved bean broth or chicken stock. Add warmed duck legs to the cassoulet and make a breadcrumb topping by combining the panko, garlic, parsley, thyme and extra virgin olive oil. Return the dish to the oven and continue baking until the crumbs brown on the top. — Courtesy Roland Passot, Propriétaire, Chef Culinary Officer, Vine HospitalityIbotta director Thomas Lehrman sells $4.7 million in stockSwapo stalwart and former prime minister Nahas Angula says last week’s general election was the worst in Namibia’s post-independence history, adding that the looming victory by ... If you are an active subscriber and the article is not showing, please log out and back in. Free access to articles from 12:00.
This is our most diverse field of Car of the Year finalists yet. The nine cars representing the best of 2024 cover several bases. Petrol, diesel, electric, hybrid and plug-in hybrid power are represented, as are utes, sedans, four-wheel-drives, coupes, convertibles and family SUVs. It’s not easy to choose a handful of finalists that represent the cream of the crop – and to whittle those down to one outstanding winner. Judges with decades of experience will put the field through their paces, examining the cars according to five key criteria: value for money, performance, design, safety and technology. We’ll test the finalists on the highway, country roads and suburban lanes, examining them inside and out to find highlights and flaws. The 2024 News Corp Australia Car of the Year will be revealed on Friday, December 13. BYD Sealion 6 Thus plug-in hybrid family SUV promises to blend the green appeal of an electric car with the convenience of a petrol vehicle. Generously equipped, competitively priced and technically intriguing, the BYD Sealion could go the distance. BYD Shark 6 Australia’s first hybrid-powered ute is a cracker. Powerful motors, a long features list and razor-sharp prices have put it on the shortlist for thousands of Aussie drivers. Can it become the first ute to win our annual prize? Ford Mustang GT At the other end of the spectrum, Ford’s Mustang GT is not particularly practical, thrifty or innovative. But its style, sound and classic appeal have won the hearts – and wallets – of many Aussie motorists. Could this be the last hurrah for V8-powered muscle cars? Hyundai Ioniq 5 N This high-performance EV promises to deliver driving thrills unlike any other battery-powered car on the road. The Hyundai Ioniq 5 N isn’t just fast, it’s really fun to drive – and it brings genuine innovation to justify its high price. Hyundai Santa Fe The Hyundai Santa Fe defeated Kia’s Sorento and the Toyota Kluger to win our family SUV shootout earlier this year. Spacious, thoughtfully designed and surprisingly efficient, it has the potential to go after overall honours. Kia EV5 The latest in a long line of truly outstanding electric vehicles by Kia, the EV5 shapes up as a genuine alternative to Tesla’s Model Y with a modern cabin, comfortable drive experience and sharp prices. MG Cyberster Australia’s first electric convertible combines showstopping looks with supercar performance and an eerily silent soundtrack. Built to transform MG brand perceptions, the Cyberster has the potential to win against the odds. Toyota Camry As one of the most familiar sights on Australian roads, Toyota’s Camry Hybrid needs little introduction. There are strong reasons behind its ubiquity – it’s affordable, efficient, dependable and surprisingly fun to drive. Toyota Prado Rugged looks, go-anywhere ability and a proven track record make the Toyota Prado a sought-after machine for Aussie adventurers. The latest model is one of the most anticipated cars of 2024. Near Misses Impressive cars missed the cut for a variety of reasons. The affordable and adorable MG3 and Suzuki Swift fell short on safety grounds, GWM’s Tank 500 and the MG HS impress on paper but not on the road, and exotics such as the Ferrari 296 GTS or Porsche Taycan GT are sublime to drive, but too expensive to be truly relevant. Special editions or mildly updated models including the Ford Ranger Tremor weren’t new enough to get a Guernsey, while others such as the Toyota BZ4x electric car or Fiat Abarth 500e simply weren’t good enough. Judging criteria Value for money: Pricing, equipment, running costs, capped servicing, warranty, service intervals, resale and material quality. Performance: How the car accelerates, stops, shifts gears, corners and soaks up bumps. Also refinement and fuel efficiency. Design: Leg and headroom, ergonomics, comfort and vision. Technology : Connectivity, ease of navigating screens etc. Safety: Physical crash rating and active safety aids. Judges Danielle Collis, Iain Curry, Toby Hagon, Jules Lucht, David McCowen, Mark Short. Photography by Thomas Wielecki and logistics assistance by Craig Reasbeck.EDITOR'S NOTE: On Football analyzes the biggest topics in the NFL from week to week. No one wants to see any player take a vicious hit like the one that knocked Trevor Lawrence out of the game. It’s easy to agree on that point. Eliminating violent shots is the hard part. The NFL has instituted several rules to protect quarterbacks but football is a physical sport and players have to react instantly and make split-second decisions going at high speeds so injuries keep occurring. Lawrence was carted off the field in the first half of Jacksonville’s 23-20 loss to Houston on Sunday after Azeez Al-Shaair leveled the defenseless quarterback with a forearm to the facemask. The late hit put Lawrence in the fencing position — both fists clenched — and he stayed on the ground for several minutes, while a brawl ensued. Lawrence didn’t require hospitalization for his concussion but it’s unknown when he’ll return. People are also reading... “Thank you to everyone who has reached out/been praying for me,” Lawrence wrote on X. “I’m home and feeling better. Means a lot, thank you all.” Al-Shaair was ejected from the game and faces a fine and potential suspension after his latest unsportsmanlike penalty. The Texans' linebacker was flagged and later fined $11,255 for a late hit out of bounds on Titans running back Tony Pollard last week. He was fined earlier this year after he punched Bears running back Roschon Johnson on the sideline in Week 2. That occurred during a scuffle that started after his hard shot on quarterback Caleb Williams near the sideline that wasn’t flagged. Jacksonville Jaguars quarterback Trevor Lawrence slides in front of Houston Texans linebacker Azeez Al-Shaair during the first half of a game on Sunday in Jacksonville, Fla. Lawrence was injured on the play. Al-Shaair once got away with grabbing Tom Brady by the throat on a pass rush in a game between the 49ers and Buccaneers. Outraged Jaguars players called Al-Shaair’s hit “dirty” and Texans coach DeMeco Ryans made it known he didn’t condone it. “It’s not what we’re coaching,” Ryans said. “Want to be smart in everything we do and not hurt the team, get a penalty there. Have to be smarter when the quarterback is going down. Unfortunate play. Not representative of who Azeez is. He’s a smart player, really great leader for us. We felt his presence not being there. His loss really affected us on the defensive side. Just not what we’re coaching. Didn’t want to see the melee and all the aftermath. That’s not what we’re about. Not representative of us. I’ll talk to Azeez, address him personally, and we’ll move forward from it.” Fox Sports color analyst Daryl Johnston, a former fullback for the Dallas Cowboys, didn’t hold back his criticism, calling it a “cheap shot.” “It’s everything you’re not supposed to do,” Johnston said. “Everything. You’ll see this in slow motion and Azeez Al-Shaair does everything you’re trying to prevent in this situation. It’s reckless. It’s disrespectful. There’s an honor that you give to your opponent on the football field and you respect him. And there’s opportunities to be physical and give big hits and play this game in that manner. And there’s other times when there’s a respect that you grant to your opponent.” Some former NFL quarterbacks blasted Al-Shaair on social media. “There is no place in the game of football for dirty hits like this one,” Robert Griffin III wrote on X. Chase Daniel called it “one of the dirtiest hits” he’s ever seen on a quarterback. Jacksonville Jaguars tight end Evan Engram, right, jumps on Houston Texans linebacker Azeez Al-Shaair after his late hit on quarterback Trevor Lawrence, bottom, during the first half of a game on Sunday in Jacksonville, Fla. Even defensive players struggled to defend Al-Shaair. “That was uncalled for,” Hall of Fame defensive lineman Michael Strahan said on Fox’s studio show while fellow Hall of Famer Howie Long agreed. But the play also sparked debate about the quarterback slide. Lawrence slid feet first, which signals that he’s giving himself up on the play. The NFL rulebook states: “A defender must pull up when a runner begins a feet-first slide.” But defensive players aren’t automatically penalized if they make contact with a sliding quarterback if they already committed and the contact is unavoidable. The rules state it’s a foul when “the defender makes forcible contact into the head or neck area of the runner with the helmet, shoulder, or forearm, or commits some other act that is unnecessary roughness.” Al-Shaair did that so he was penalized and will face other repercussions. Still, given the hard-hitting nature of the sport, it won’t be the last time this happens. Here are the 10 best NFL rookie quarterbacks since 1960 Caleb Williams is the most anticipated NFL rookie When Caleb Williams took the field for the Chicago Bears' first regular season game against the Tennessee Titans, the anticipation for the rookie's debut game—possibly the most ever—was on full display. Despite a tough debut for the quarterback, the Bears secured a 24-17 win, a notable feat for the rookie. The victory made Williams the first #1 overall pick with a Week 1 win in over 20 years. Going forward this season, Williams is expected to eclipse C.J. Stroud's record-breaking 2023 rookie campaign with the Houston Texans. However, Stroud's success is an anomaly. Drafting a successful quarterback, especially one who is effective right away, is difficult. When teams have a high first-round draft pick, and they're coming off an unsuccessful few seasons, it's assumed that they will use their first pick on a quarterback . That player will assume the title of "the face of the franchise" and will get the central attention, win or lose. To see which quarterbacks have faced that challenge and triumphed, ATS.io compiled a ranking of the 10 best rookie quarterbacks since 1960 using data from StatHead . Rookies were defined as players who are in their first season of professional football and have not been on the roster of another professional team. Quarterbacks were ranked according to adjusted net yards per pass attempt, which quantifies efficient passing skill. Ties were broken using passer rating. Only rookie quarterbacks with at least 10 games played and 200 total passing attempts were considered. Since 1967, 130 quarterbacks have been drafted in the first round. Of those drafted, only 61 have won a playoff game as a starter, according to The Athletic, which used data from NFL Research . The biggest reason this success rate is not guaranteed is because there are differences between college and pro offensive systems. In the collegiate game, the ball is snapped at different points on the field, passing windows are wider, and defenders and linemen are not as quick, making the adjustment to the pro level more difficult. NFL scouts and general managers are gambling on what skills can be transferable and how long those adjustments might take, which is why some teams prefer redshirt quarterbacks to ease the transition. However, just because a team may not want to use their first-round pick on a quarterback, doesn't mean they can't find a diamond in the rough later in the draft. Think about Tom Brady, Russell Wilson, and Dak Prescott, all of which were not first-round picks, but have gone on to make a name for themselves in the NFL. #10. Gardner Minshew (2019) - Adjusted net yards per pass attempt: 6.44 - Passer rating: 91.2 - Season stats: 3,271 yards, 21 touchdowns, 6 interceptions Coming out of college, Gardner Minshew was not a highly sought-after quarterback for NFL teams. He was drafted in the sixth round of the 2019 draft—a draft that was headlined by Kyler Murray, Dwayne Haskins, and Daniel Jones. Nonetheless, Minshew's rookie season with the Jacksonville Jaguars was filled with many accomplishments. He won Rookie of the Week seven times despite not winning NFL Offensive Rookie of the Year. Minshew also had the highest passer rating of any rookie quarterback that started in 2019. #9. Baker Mayfield (2018) - Adjusted net yards per pass attempt: 6.77 - Passer rating: 93.7 - Season stats: 3,725 yards, 27 touchdowns, 14 interceptions Pressure was high for Baker Mayfield as the first overall pick in the 2018 draft. When he joined the Cleveland Browns, there was an expectation that once the team figured out the quarterback position, it could be playoff-ready. After trading for Jarvis Landry, a young wide receiver from the Miami Dolphins, in the offseason, the Browns were on their way. Mayfield's rookie season was filled with many firsts, and the Landry-Mayfield connection filled the stat sheet. Mayfield set the record for most passing touchdowns by a rookie quarterback in 2019 with 27 surpassing prior marks from Payton Manning and Russell Wilson. #8. Justin Herbert (2020) - Adjusted net yards per pass attempt: 6.84 - Passer rating: 98.3 - Season stats: 4,336 yards, 31 touchdowns, 10 interceptions Justin Herbert was the third quarterback selected in the 2020 NFL draft behind Joe Burrow and Tua Tagovailoa. As the No. 6 overall pick, expectations were high, but there was also an assumption that it would be a few years before Herbert's development would take shape. Then, Chargers starting quarterback Tyrod Taylor was accidentally punctured in the lung by a team doctor administering a painkiller before the second game of the season, and it wasn't clear what Taylor's status would be moving forward. When Herbert was given the nod to start minutes before the game, fans didn't know what to expect. Herbert shocked viewers when he threw for over 300 yards and only one interception in that game. He continued his strong rookie showing throughout the season and went on to win NFL Offensive Rookie of the Year. #7. Ben Roethlisberger (2004) - Adjusted net yards per pass attempt: 6.93 - Passer rating: 98.1 - Season stats: 2,621 yards, 17 touchdowns, 11 interceptions Ben Roethlisberger was the third quarterback selected in his draft class behind the likes of Eli Manning and Philip Rivers—though fans wouldn't have been able to tell. From the moment Roethlisberger was called up by the Pittsburgh Steelers to play in his first game—Week 2 against the Baltimore Ravens—it was clear he had a special arm, gaining the nickname "Golden Arm." While the next several games were bumpy for Steelers fans, it was clear that Roethlisberger was the future of the franchise. The Steelers had a solid running game and its receiving core, led by Hines Ward, was one of the best in the league . Once Roethlisberger gained his footing a few games in, he was unstoppable. He led Pittsburgh to its best record ever: 15-1. He also started the season on an eight-game winning streak, becoming the first rookie to do so. Additionally, Roethlisberger became the first quarterback to win AP Offensive Rookie of the Year. #6. Matt Ryan (2008) - Adjusted net yards per pass attempt: 7.01 - Passer rating: 87.7 - Season stats: 3,440 yards, 16 touchdowns, 11 interceptions As the No. 3 overall pick in the 2008 NFL draft, there were high expectations on Matt Ryan's shoulders heading to the Atlanta Falcons. The Falcons were coming off back-to-back losing seasons and off-the-field legal troubles with its starting quarterback Michael Vick overshadowing the team's play. Ryan was expected to pick up the pieces. He did that immediately, leading the Falcons to an 11-5 record in his rookie season and becoming the clear favorite for NFL Offensive Rookie of the Year halfway through the season, which he went on to win. The tag team of Ryan and running back Michael Turner was one of the best offensive forces in the sport that season. #5. Russell Wilson (2012) - Adjusted net yards per pass attempt: 7.01 - Passer rating: 100 - Season stats: 3,118 yards, 26 touchdowns, 10 interceptions Russell Wilson was drafted in the third round of the 2012 NFL Draft by the Seattle Seahawks. Considering Robert Griffin III and Andrew Luck headlined the NFL Draft that year, it was not believed that Wilson would be a starter come Week 1, but that quickly changed. Going into the 2012 NFL Draft, Tarvaris Jackson was the Seattle Seahawks' starting quarterback, and the team signed NFL veteran quarterback Matt Flynn as an insurance policy on the injury-prone Jackson . It was assumed in the short term that either Jackson or Flynn would lead the franchise. Once training camp arrived, however, the Seahawks' quarterback position was uncertain. Jackson was traded to the Buffalo Bills, and Flynn was underwhelming at camp, forcing Head Coach Pete Carroll to take a gamble on his rookie quarterback, Wilson, in Week 1. Carroll, nor Wilson, ever looked back. Wilson was one of the best passing quarterbacks that season. He led the Seahawks to an 11-5 record and went on to win NFL Rookie of the Year. #4. Dan Marino (1983) - Adjusted net yards per pass attempt: 7.39 - Passer rating: 96 - Season stats: 2,210 yards, 20 touchdowns, 6 interceptions When Dan Marino was drafted by the Miami Dolphins in 1983, the NFL looked very different. Running the ball was the name of the game. The quarterback would either run the football himself at the line of scrimmage or hand it off to the running back, and the offensive linemen would claw and push the pile forward as the runner powered his legs. It was not a pretty sight. However, Marino took a different approach, throwing the ball with a unique quick release for that era. He led the Dolphins to a 9-1 record after replacing David Woodley midway through his rookie season, ending with a 12-4 record. He went on to win Rookie of the Year and was the first rookie to start a Pro Bowl. #3. C.J. Stroud (2023) - Adjusted net yards per pass attempt: 7.47 - Passer rating: 100.8 - Season stats: 4,108 yards, 23 touchdowns, 5 interceptions When C.J. Stroud was drafted No. 2 by the Houston Texans last year, there were a lot of questions, not about his ability, but about the organization that he would be playing for. The Texans were coming off of a 3-13-1 season in 2022, finishing with the worst record in the league, and a lot of volatility in its front office. The team fired its head coach and a top executive before the draft. Weeks later, the team hired former Texans linebacker DeMeco Ryans as its next head coach. While Ryans is a defensive-minded coach, Stroud was seen as a key ingredient to the team's success since Ryans hired his coaching staff around the quarterback. Stroud led the NFL in yards and TD-to-interception ratio during his rookie season, which is an efficiency statistic considering he didn't get his first interception until his sixth regular-season game against the New Orleans Saints. While Stroud was a part of the league MVP conversation for most of the season, he didn't ultimately win the title. However, he was named 2023 NFL Offensive Rookie of the Year, and his rookie season is seen as one of the best in NFL history. #2. Robert Griffin III (2012) - Adjusted net yards per pass attempt: 7.47 - Passer rating: 102.4 - Season stats: 3,200 yards, 20 touchdowns, 5 interceptions Leading into the 2012 draft, it wasn't a matter of whether Washington would pick a quarterback, it was a matter of who. After several seasons of mediocre quarterback play and losing seasons from the likes of Jason Campbell, Donovan McNabb, and Rex Grossman, it was time for a new face to lead the offense. At No. 2, Washington selected Robert Griffin III making him the second quarterback selected in the 2012 NFL draft behind Andrew Luck. Griffin started his rookie year campaign with one of the best performances football fans have ever seen. He completed 19 of his 26 pass attempts for 320 yards and 2 touchdowns, beating the New Orleans Saints. That game earned him the highest passer rating by a rookie ever, 158.3. He now shares that record with Kirk Cousins and Marcus Mariota. Griffin III went on to win NFL Offensive Rookie of the Year in 2012. #1. Dak Prescott (2016) - Adjusted net yards per pass attempt: 7.86 - Passer rating: 104.9 - Season stats: 3,667 yards, 23 touchdowns, 4 interceptions Dak Prescott is statistically the best rookie quarterback ever, racking up the best passer rating as a rookie. After losing his first game, he led the Cowboys on an 11-game winning streak. That season, he led the team to its fourth-best season ever with a 13-3 record. Prescott was the 2016 NFL Offensive Rookie of the Year and became the first NFL quarterback to be drafted in the fourth round or later to start all 16 regular season games. Data reporting by Karim Noorani. Story editing by Shanna Kelly. Additional editing by Kelly Glass. Copy editing by Robert Wickwire. Photo selection by Clarese Moller. This story originally appeared on ATS.io and was produced and distributed in partnership with Stacker Studio. Be the first to know Get local news delivered to your inbox!Athena Technology Acquisition Corp. II Announces Receipt of Notice of Non-Compliance with NYSE American Continued Listing Requirements
WASHINGTON (AP) — An imprisoned far-right extremist group leader who was the top target of the federal investigation of the Jan. 6, 2021, riot at the U.S. Capitol balked at answering a prosecutor's questions about the attack when he testified on Thursday at the trial of a police officer accused of leaking him confidential information. A federal judge warned former Proud Boys national chairman Enrique Tarrio that he could face consequences, including an order holding him in contempt of court, if he continued to refuse to answer the prosecutor's questions. Tarrio completed his testimony without incurring any sanctions from the judge. Tarrio, who is serving a 22-year prison sentence for a plot to keep Donald Trump in the White House after the 2020 election, waived his Fifth Amendment right against self-incrimination when he agreed to testify as a defense witness at the bench trial of retired Metropolitan Police Department Lt. Shane Lamond. “What that means is you have to answer all the questions. You don't get to pick and choose,” U.S. District Judge Amy Berman Jackson told Tarrio after he initially refused to answer whether Proud Boys were at the Capitol on Jan. 6. Dozens of Proud Boys, including Tarrio, are among the 1,500 people who have been charged with federal crimes related to the Capitol siege. A jury convicted Tarrio and three lieutenants of seditious conspiracy and other crimes last year after a months-long trial in the same courthouse where Lamond is on trial this week. Tarrio complained that the prosecutor, Rebecca Ross, shouldn't have “free reign” to ask him questions about Jan. 6. Lamond is on trial for charges that he lied about providing Tarrio with confidential information about a police investigation of Proud Boys who burned a Black Lives Matter banner in December 2020. “This case is not a Jan. 6 case,” he told the judge, arguing that he didn't “completely” waive his Fifth Amendment rights. “There is not a half of a Fifth Amendment privilege,” the judge responded. When Tarrio told her, “We'll agree to disagree,” the judge chuckled and replied, “Well, I'll just say, ‘You’re not in charge.'” Tarrio was the first witness to testify for Lamond's defense against charges that he obstructed justice and made false statements about his communications with Tarrio. The judge will decide the case against Lamond after hearing testimony without a jury. On Monday, the judge said Tarrio was waiting for the outcome of last month’s presidential election before deciding whether to testify at Lamond’s trial. President-elect Trump, who repeatedly has vowed to pardon people convicted of Capitol riot charges, suggested he would consider pardoning Tarrio. Tarrio was sentenced to more than five months in jail for burning the banner that was stolen in December 2020 from a historic Black church in downtown Washington, and for bringing two high-capacity firearm magazines into the district. Tarrio was arrested in Washington two days before the Jan. 6 siege. The Miami resident wasn’t at the Capitol when a mob of Trump supporters stormed the building and interrupted the congressional certification of Biden’s 2020 electoral victory. During the trial's opening statements on Monday, a prosecutor said Lamond was a “Proud Boys sympathizer” who warned Tarrio about his impending arrest for the banner’s destruction and later lied to investigators about their communications. Police officers who investigated the banner’s destruction testified that it would have helped them to know that Tarrio had privately confessed to Lamond that he burned the banner. The Proud Boys leader also publicly admitted on social media and on a podcast that he had burned the banner. Tarrio testified on Thursday that he didn’t confess to Lamond or receive any confidential information from him. Tarrio said he came to Washington two days before Jan. 6 because he wanted to be arrested for the banner burning but released in time to attend then-President Trump’s Jan. 6 “Stop the Steal” rally. “I wanted to get this over with,” Tarrio said. He also said he thought that his arrest before the rally would help “put up a circus tent" and generate publicity for his group's message. “I wanted to show what the Department of Justice was, and I was dedicated to that cause with everything in me,” he said. Lamond, who met Tarrio in 2019, had supervised the intelligence branch of the police department’s Homeland Security Bureau. He was responsible for monitoring groups like the Proud Boys when they came to Washington. Lamond’s indictment accuses him of lying to and misleading federal investigators when they questioned him in June 2021 about his contacts with Tarrio. Lamond, of Stafford, Virginia, was arrested in May 2023. He retired from the police department that same month. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get local news delivered to your inbox!
“Cassoulet, that best of bean feasts, is everyday fare for a peasant but ambrosia for a gastronome.” ~ Julia Child When winter heads our way, bringing chilly temperatures and close, dark nights, my thoughts turn to Cassoulet, the iconic comfort food from southwestern France. It has it all – juicy beans, duck leg confit, sausages and sometimes pork or lamb, slowly simmered in well-seasoned broth, then baked in a wide-mouthed, glazed terra-cotta dish called a cassole . Like any truly traditional dish, there are multiple versions, all claiming to be the “authentic one.” Cassoulet originated in southwestern France. Toulouse claims it — and so does Castelnaudary and Carcassonne — and the recipes vary. Toulouse adherents eschew adding cubed pork. Castelnaudary purists add a bit of lamb, while Carcassonne’s adds partridge. In most restaurants, cassoulets are served in an individual cassole , bubbling with hot juices,and with a bit of duck leg peeking through the top. But at Hostellerie Etienne , a vast indoor- outdoor restaurant on the edge of a forest near Castelnaudary, the cassoulets come to the table in family-size cassoles , big enough to serve two, four, six or even 10 people, so you can share the dish with your dining companions. I don’t know if Etienne’s even has a single-serving bowl size. I didn’t see one, when I was there as the guest of a bean trader from Castelnaudary. According to him, Etiennne’s has the best cassoulet anywhere, and they use the Lauragais lingot beans known as the Castelnaudary bean. Copious doesn’t begin to describe the cassoulet scene there, with stacks of cassoles lined up in Etienne’s kitchen, next to caldrons of simmering beans, ready to be filled and popped into the vast ovens. Here in the Bay Area, we have our own go-to restaurants for cassoulets. Some, like the Left Bank Brasseries in San Jose, Menlo Park, Oakland and Larkspur, and Reve Bistro in Lafayette, only serve it during the winter months as a special. (Reve will be serving cassoulet Dec. 10-14, for example, and Jan. 7-11; reserve it when you reserve your table.) Others, such as Bistro Jeanty in Yountville and Le Central in San Francisco, always have it on the menu. Both Reve Bistro and Bistro Jeanty use cassoles made by potter Kathy Kernes at her Crockett Pottery in Crockett, and they are every bit as beautiful and as practical as those you’ll find in southwestern France. Kernes’ makes cassoles in six sizes ($38-$210), ranging from individual to “extra large plus,” which is very large indeed. (Browse the possibilities at www.crockettpottery.com.) Reve Bistro offers take-out cassoulets if you pre-order the week the dish is on the menu. Pick it up — in a takeout container, not a cassole! — then heat it at home. Just note that chef-owner Paul Magu-Lecugy only makes a limited number of portions. “It’s time consuming,” he says, noting for him, it is a two-day process. Le Central’s cassoulet is one of the more elaborate around, with lamb, pork shoulder and boudin blanc, as well as the all-important duck leg confit and slightly garlicky Toulouse sausage. Left Bank uses chef-owner Roland Passot’s recipe (see below) and keeps it simple, limiting the meats to duck leg confit and Toulouse sausages. (Don’t panic. If you’re making this at home, some specialty markets sell duck confit.) The beans are key to cassoulet. Once cooked, they should not be mushy, but hold their shape after the long cooking. In France, tradition calls for either Tarbais beans, a plump, white bean, or lingot beans — a strain of cannellini beans — in making cassoulet. As Passot suggests in his recipe below, you can substitute cannellini beans or Great Northern beans. Rancho Gordo produces a variety called cassoulet , a West Coast-grown bean from the Tarbais strain. Cassoulet isn’t difficult to make. It just requires time and patience. You can make it a couple of days ahead, refrigerate it and then slowly reheat it. That way, there’s nothing to do on the day of but sip a glass of wine while the beans and meats slowly heat to bubbling. Add a green salad and some crusty bread, and you’ll have the perfect winter meal. Or put your coat on and head to one of our local restaurants, where the cooking is done for you. All you need is a reservation. Serves 6 to 8 Beans: 4 cups dried lingot beans (white kidney, cannellini or Great Northern, will all work) 1 small carrot, peeled and chopped 1 small onion, diced (about 3⁄4 cup) 1 clove garlic, chopped 1 pound slab bacon or extra thick-cut bacon, cut into 1-inch cubes 2 sprigs of thyme 1 bay leaf Cassoulet: 1⁄4 cup duck fat (lard will do in a pinch) 2 pounds pork butt cut in 2-inch cubes 1 cup onions, diced small 4 cloves garlic, chopped 1⁄4 cup tomato paste 1 small can diced tomatoes 11⁄2-2 cups reserved bean water 6 Toulouse sausages 1 small garlic sausage 4 confit duck legs, purchased or homemade (see note below) 1 cup panko bread crumbs 1 teaspoon garlic, chopped 1 tablespoon parsley, chopped 1⁄4 teaspoon fresh thyme, chopped 1 tablespoon extra virgin olive oil Note: If you are making your own duck confit, start the night before by rubbing the duck legs with a “green salt” mixture — kosher salt, parsley, a couple of bay leaves and thyme ground together. The next day, rinse the duck legs well, pat dry and place in an oven-safe cooking vessel with enough duck fat to cover the legs. Roast in a 225-degree oven for 21⁄2 to 3 hrs. The night before, place the beans in a deep pot and add enough water to cover by 2 inches. Let beans soak overnight. The next day, rinse the beans well. Add the rinsed beans, carrots, onions, garlic, bacon, thyme and bay leaf to cold water and cook, over low heat, until the beans are tender. Strain the beans, saving the water, and set aside the beans. In a large braising pan, melt the duck fat over medium high heat. Once the pan is hot, brown the pork butt pieces without stirring. When beginning to brown, start stirring, making sure you scrape the bottom if it starts to caramelize. The pork doesn’t need much color, but it does need to cook in the duck fat for a while. Add lots of salt and pepper. This is not a shy dish. When the pork is nice and brown on all sides, add the 1 cup onions and garlic, and sauté until the onions are soft and cooked through. Add the tomato paste, diced tomatoes and reserved liquid from the beans. Stir, using a rubber spatula to clean the side of the pot. Preheat your oven to 250 degrees. Bring the heat under the braising pan up to high. Once at a rolling boil, turn down to low heat and add all the sausages. When they are cooked through, remove and set aside. Slice the garlic sausage in half and cut into 1-inch pieces. Return the whole and sliced sausages back to the pot along with the cooked beans. Continue to cook on low heat until the pork is cooked through. Taste for seasoning; add more salt and pepper if needed. Transfer the beans and pork to a heavy, wide mouth, earthenware, clay or cast iron baking dish that can hold 5 to 6 quarts. Bake at 250 degrees for about 11⁄2 hours, checking at least every 30 minutes. It may require a bit more time. If the dish is starting to look too dry, add a small amount of reserved bean broth or chicken stock. Add warmed duck legs to the cassoulet and make a breadcrumb topping by combining the panko, garlic, parsley, thyme and extra virgin olive oil. Return the dish to the oven and continue baking until the crumbs brown on the top. — Courtesy Roland Passot, Propriétaire, Chef Culinary Officer, Vine HospitalityHow to Watch the NBA Today, December 30
Judge hears closing arguments on whether Google's advertising tech constitutes a monopolyRyan Blaney is looking forward to the return of the iconic Bowman Gray Stadium for the 2025 NASCAR Cup season opening event. The 2025 season's first race, the Busch Light Clash, will be the first major stock car race at this historic venue in 53 years. As a child, Blaney raced at Bowman Gray, and he has revealed a hilarious moment when a seven-year-old fan flipped him off after one of his races there. Ryan Blaney grew up in a family steeped in racing history. Grandfather Lou Blaney was a legend on dirt tracks, and his father Dave Blaney raced in NASCAR. These family ties heavily influenced his own journey in racing. Even as a young boy, Blaney was drawn to the sport, hitting the tracks at just eight years old. Small, short tracks like Martinsville and Bristol remain his favorites. Bowman Gray, with its storied history dating back to 1956, holds a special place in his heart. Blaney remembers a particular race at the stadium when he was just ten. He recalls a fan's funny gesture that made him realize the passion and intensity of the crowds at Bowman Gray. During an interview with Sportsnaut , Blaney explained: "I've raced there twice, in a bandolero and legend car, and my one vivid memory, I won in a bandolero when I was like 9 or 10. My one vivid memory was that there was a kid, younger than me, flip me off over the barrier when I was 10 and he was 7, and he was just doing what his parents did. "I don't think he didn't like me or anything. It was just, this is what we do. I vividly remember that going down the frontstretch. I hope we get to see a few more going back there for the Clash. I bet we will." William Byron, another NASCAR driver from Hendrick Motorsports, is also very excited about the upcoming race. He commented, as per the same report from Sportsnaut: "A more intimate setting, a lot of fans yelling at you. The Coliseum was great but the fans were just watching the cars and wondering what's happening. These fans know what's happening and will be into it." 2025 NASCAR Cup Series Schedule Regular Season PlayoffsMounties in Richmond, B.C., say a man has been arrested for allegedly uttering threats against police while livestreaming on a social media platform. RCMP say they received the complaint about the man on Friday morning as he stood outside Richmond City Hall. Police say officers flooded the area and made an arrest without any incident. Insp. Michael Cohee, with RCMP investigative services, says they commend the person who recognized the potential risk and called police. He says they take public safety and threats of violence “very seriously,” whether they are online or in person. Police haven’t said what charges are being considered but say the investigation is ongoing.
As one of the leading providers of a 24/7 autonomous smart store, VenHub has introduced and developed a solution with the potential to transform how consumers interact with technology in retail environments. Powered by proprietary software and unique robotics arms technology, VenHub's product offering can provide a seamless customer experience. Manufactured by a leader in the global robotics industry, the innovative robotic arms technology can differentiate VenHub from traditional retail solutions and well-positions the Company in the automated retail space. Additionally, VenHub's cutting edge vision system adds precision and reliability to its product offering, and the efficiency and security of the Smart Stores are enabled by VenHub's intellectual property portfolio. Founded in 2023, VenHub is addressing challenges facing traditional retail stores, including inefficient inventory management, limited hours, high labor costs, and security concerns. The Smart Stores are designed to utilize data-driven inventory management, a self-service delivery system, and advanced security protection, all of which reduce labor costs and collectively enhance sales and growth potential. Through these potential competitive advantages, VenHub has secured over 1,000 customer pre-orders across 48 states, with potential revenue of more than $300 million 1 in pre-order value. This pre-order book demonstrates market confidence in VenHub's smart store technology. VenHub's growth strategy focuses on geographic and store format expansion to meet the growing demand for autonomous retail solutions, as well as product diversification to enhance VenHub's market presence and operational efficiency. The Company's CapEx-light business model has the potential to create value for stakeholders, and its diversified business model with potential for recurring revenue can allow VenHub to achieve its expansion plan. Key Investment Highlights Shahan Ohanessian, Chief Executive Officer of VenHub, commented : "This is day one for VenHub on a larger stage,” Shahan Ohanessian, CEO of VenHub, remarked. "We're at the starting line of what I believe will be a remarkable journey, turning our vision into reality and expanding our reach on a global scale. We're not just joining the market; we're aiming to pioneer a new frontier in smart retail that enhances how businesses and consumers connect.” Mike Minnick, Chief Executive Officer of TGAA, added : "We are excited to partner with Shahan and the VenHub team. VenHub's efficient, capital-light business model, combined with strong near-term projected positive cash flow generation, positions the Company for sustainable growth. This approach enables strategic expansion into multiple geographic markets while leveraging internally generated cash flow and maintaining disciplined resource allocation.” Proposed Business Combination Overview The Proposed Business Combination implies a pro forma enterprise value of $715 million, which assumes an estimated equity value of $650 million, $26 million in new cash to the balance sheet (assuming 100% redemptions by TGAA public shareholders), and $0.6 million in existing cash. The Proposed Business Combination is expected to provide net cash to VenHub of up to $14 million to support VenHub's continued geographic expansion and product diversification. Cash proceeds raised will consist of TGAA's approximately $20.4 million cash in trust, net of redemptions. The cash in the TGAA trust account is anticipated to support the Company's growth capital needs, including VenHub's production, marketing and sales efforts. It is intended that 100% of existing VenHub stockholders will roll over their equity and, assuming no redemptions and full rollover, own approximately 89% of the pro forma equity of the combined company in connection with the transaction. The Proposed Business Combination has been approved by the boards of directors of both VenHub and TGAA and is expected to close in the second quarter of 2025, subject to shareholder approvals and other customary closing conditions. For a summary of the material terms of the Proposed Business Combination, as well as a supplemental investor presentation, please see the Current Report on Form 8-K filed today by TGAA with the U.S. Securities and Exchange Commission (the "SEC”). Additional information about the Proposed Business Combination will be described in TGAA's proxy statement relating to the Proposed Business Combination, which it will file with the SEC. Advisors Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC, is serving as the exclusive financial advisor, capital markets advisor and placement agent to VenHub. Smith Eilers PLLC is serving as legal counsel to VenHub. Orrick, Herrington & Sutcliffe LLP is serving as legal counsel to TGAA. Travers Thorp Alberga is serving as legal counsel to TGAA with respect to Cayman Islands law. About VenHub VenHub Global, Inc., f/k/a Autonomous Solutions, Inc., a Delaware corporation, is reshaping the retail industry with its groundbreaking autonomous and robotic-operated Smart Stores. Leveraging advanced AI and smart inventory management systems, VenHub offers a seamless shopping experience that operates 24/7. This approach not only increases revenue but also significantly reduces operational costs compared to traditional retail setups. VenHub's modular design allows for quick installation and easy customization to meet a wide range of consumer needs. The company operates across three main retail formats: fixed Smart Stores for permanent locations, mobile Smart Stores for flexibility and broader accessibility, and innovative solutions that upgrade existing retail spaces and shopping centers into advanced Smart Shopping environments. With its forward-thinking strategy, VenHub is poised to transform the retail landscape, providing an efficient and accessible shopping experience that anticipates the future of commerce. About Target Global Acquisition I Corp. TGAA Acquisition I Corp. is a blank check company incorporated as a Cayman Island exempted company and formed for the purpose of effecting a merger, share, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. TGAA's units, Class A ordinary shares and warrants trade on the Nasdaq under the ticker symbols "TGAAU,” "TGAA,” and "TGAAW” respectively. Forward-Looking Statements This press release includes "forward-looking statements” within the meaning of the "safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. TGAA's and VenHub's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect,” "estimate,” "project,” "budget,” "forecast,” "anticipate,” "intend,” "plan,” "may,” "will,” "could,” "should,” "believes,” "predicts,” "potential,” "continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, TGAA's and VenHub's expectations with respect to future performance and anticipated financial impacts of the Proposed Business Combination, the satisfaction of the closing conditions to the Proposed Business Combination and the timing of the completion of the Proposed Business Combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside TGAA's and VenHub's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement, (2) the outcome of any legal proceedings that may be instituted against TGAA and VenHub following the announcement of the Business Combination Agreement and the transactions contemplated therein; (3) the inability to complete the Proposed Business Combination, including due to failure to obtain approval of the shareholders of TGAA or other conditions to closing in the Business Combination Agreement; (4) the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination Agreement or could otherwise cause the Proposed Business Combination to fail to close; (5) the amount of redemption requests made by TGAA's shareholders; (6) the inability to obtain or maintain the listing of the post-business combination company's common stock on the Nasdaq Stock Market LLC following the Proposed Business Combination; (7) the risk that the Proposed Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Proposed Business Combination; (8) the ability to recognize the anticipated benefits of the Proposed Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (9) costs related to the Proposed Business Combination; (10) changes in applicable laws or regulations; (11) the possibility that VenHub or the combined company may be adversely affected by other economic, business, and/or competitive factors; and (12) other risks and uncertainties indicated from time to time in the proxy statement relating to the Proposed Business Combination, including those under "Risk Factors” and "Cautionary Note Regarding Forward-Looking Statements” which will be set forth in a Registration Statement on Form S-4 (the "Registration Statement”) to be filed by TGAA and the Company and in TGAA's other filings with the SEC. Some of these risks and uncertainties may be amplified by future events and there may be additional risks that we consider immaterial or which are unknown. It is not possible to predict or identify all such risks. TGAA cautions that the foregoing list of factors is not exclusive. TGAA cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date they are made. TGAA does not undertake or accept any obligation or undertaking to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based . Additional Information and Where to Find It This press release relates to a proposed transaction between the Company and TGAA. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. TGAA and the Company intend to file a registration statement on Form S-4 that will include a proxy statement/prospectus of TGAA. The proxy statement/prospectus will be sent to all TGAA shareholders. TGAA also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of TGAA are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the registration statement and all other relevant documents filed or that will be filed with the SEC by TGAA through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by TGAA may be obtained free of charge from TGAA's website at https://tgacquisition1.com/ or by written request to TGAA at: Target Global Acquisition I Corp., PO Box 10176, Governor's Square 23, Lime Tree Bay Avenue, Grand Cayman KY1-1102, Cayman Islands. Participants in the Solicitation TGAA and the Company and their respective directors and officers may be deemed to be participants in the solicitation of proxies from TGAA's shareholders in connection with the proposed transaction. Information about TGAA's directors and executive officers and their ownership of TGAA's securities is set forth in TGAA's filings with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This press release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security of TGAA, VenHub or any of their respective affiliates. No such offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom. The contents of this press release have not been reviewed by any regulatory authority in any jurisdiction. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. Investor Relations Contact [email protected] 888-585-4999 Wire Service Contact : IBN Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office [email protected] 1 Grand View Research, "GVR Report cover Convenience Stores Market Size, Share & Trends Analysis Report By Type (Cigarettes & Tobacco, Foodservice, Packaged Beverages, Center Store, Low Alcoholic Beverages), By Region, And Segment Forecasts, 2022 - 2028”, May 2022 2 Based on management estimates. As of September 30, 2024.
SUGAR LAND, Texas, Dec. 12, 2024 (GLOBE NEWSWIRE) -- CVR Energy, Inc. CVI "CVR Energy" or the "Company")) today announced that certain of its wholly owned subsidiaries have priced a proposed $325 million aggregate principal amount senior secured term loan B due 2027 (the "Facility"). The loans under the Facility will be issued at a price equal to 99% of their face value and bear interest at SOFR plus 4.0%, with closing expected before the end of the year. The proceeds of the loans under the Facility are expected to be used primarily for capital expenditures, including the planned 2025 turnaround at the Coffeyville refinery. The Company is also in negotiations for the potential sale of its interests in one of its midstream assets, with total consideration, if the transaction is finalized, approved and closed, expected to be under $100 million. Such sale, if any is consummated, is expected to further enhance the Company's liquidity position. CVR Energy today also announced that, on December 12, 2024, it entered into a new employment agreement with Dave Lamp, its President and Chief Executive Officer and a member of its Board of Directors, which agreement is expected to commence on January 1, 2025, immediately following expiration of his existing employment agreement, and end on December 31, 2026, unless earlier terminated in accordance with its terms. This summary of the employment agreement is qualified in its entirety by the terms of the agreement, which will be reported on a Form 8-K to be filed with the U.S. Securities and Exchange Commission within four business days of execution. "As we discussed in our last earnings call, in light of current market conditions and our upcoming large turnaround at the Coffeyville refinery, we considered it prudent to further strengthen our liquidity and balance sheet. We are pleased with the positive feedback we have received relating to our potential Facility and feel confident in our ability to successfully close the Facility before year-end," said Dave Lamp, CVR Energy's President and Chief Executive Officer. "I consider these actions, as well as those announced in our last earnings call, as positioning CVR Energy to take advantage of improving market conditions when they occur, as I believe they will. I'm also pleased to announce that I have entered into a new employment agreement to extend my tenure as President and Chief Executive Officer of CVR Energy and Executive Chairman of CVR Partners' general partner. I am proud of what we have accomplished over the past seven years and look forward to leading our companies into the future." 2025 Capital Expenditure Outlook The Company also published its capital expenditure outlook for 2025 set forth below, which for its Petroleum segment and Corporate and other businesses is generally focused on projects the Company considers necessary to maintaining safe, reliable operations and projects currently underway that would incur additional costs by deferring completion such as the ongoing project to eliminate hydrofluoric acid from the Wynnewood refinery alkylation unit, which currently accounts for the majority of the growth capital spending planned for the Petroleum segment in 2025. The Petroleum segment capital expenditure outlook does not include expected turnaround expenditures of $170 million to $190 million, which is primarily associated with the turnaround at the Coffeyville refinery currently expected to commence in the first quarter of 2025. Growth capital projects in the Fertilizer segment should primarily be funded through cash reserves taken at CVR Partners, LP ("CVR Partners") over the past two years. 2025 Estimate Maintenance Growth Total Low High Low High Low High Petroleum $ 70 $ 80 $ 35 $ 45 $ 105 $ 125 Nitrogen Fertilizer 35 45 20 25 55 70 Other (1) 3 7 2 3 5 10 Total $ 108 $ 132 $ 57 $ 73 $ 165 $ 205 (1) Includes renewables spending for the Wynnewood refinery's renewable diesel unit. As of September 30, 2024, the Renewables business was not a reportable segment. Forward-Looking Statements This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are "forward-looking statements," as that term is defined under the federal securities laws. These forward-looking statements include, but are not limited to, statements regarding: our expectations regarding the closing of the Facility on the terms or in the time indicated, and the use of proceeds thereof; the potential sale, if any, of interests in certain midstream assets and the anticipated value of any such sale and resulting benefits (if any) thereof; the expected commencement and duration of a new employment agreement with Mr. Lamp, as well as the expiration of an existing agreement therewith; the planned turnaround at our Coffeyville refinery; our capital expenditures outlook, including in respect of our segments and on a consolidated basis, and the allocation of anticipated amounts to fund certain projects and turnarounds and the use of certain cash reserves in connection therewith; continued safe and reliable operations; our future results, performance or achievements and drivers thereof; disruptions to operations (planned and unplanned), including impacts on results; general economic and business conditions; capital expenditures; and other matters. You can generally identify forward-looking statements by our use of forward-looking terminology such as "outlook," "anticipate," "believe," "continue," "could," "estimate," "expect," "explore," "evaluate," "intend," "may," "might," "plan," "potential," "predict," "seek," "should," "upcoming," "before," "future," or "will," or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. Investors are cautioned that various factors may affect these forward-looking statements, including (among others): the satisfaction of the closing conditions prior to closing the Facility; our ability to negotiate terms related to the potential midstream asset sale, if any, that are acceptable; the health and economic effects of any pandemic; demand for fossil fuels and price volatility of crude oil, other feedstocks and refined products; the ability of Company to pay cash dividends and of CVR Partners to make cash distributions; potential operating hazards, including the impacts of fires at our facilities; costs of compliance with existing or new laws and regulations and potential liabilities arising therefrom; impacts of the planting season on CVR Partners; our controlling shareholder's intention regarding ownership of our common stock and potential strategic transactions involving us or CVR Partners; capital expenditures and the amount, timing, purposes and benefits thereof; general economic and business conditions; political disturbances, geopolitical instability and tensions; impacts of plant outages and weather conditions and events; and other risks. For additional discussion of risk factors which may affect our results, please see the risk factors and other disclosures included in our most recent Annual Report on Form 10-K, any subsequently filed Quarterly Reports on Form 10-Q and our other Securities and Exchange Commission ("SEC") filings. These and other risks may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this news release are made only as of the date hereof. CVR Energy disclaims any intention or obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law. About CVR Energy, Inc. Headquartered in Sugar Land, Texas, CVR Energy is a diversified holding company primarily engaged in the renewables, petroleum refining and marketing business as well as in the nitrogen fertilizer manufacturing business through its interest in CVR Partners. CVR Energy subsidiaries serve as the general partner and own 37 percent of the common units of CVR Partners. Investors and others should note that CVR Energy may announce material information using SEC filings, press releases, public conference calls, webcasts and the Investor Relations page of its website. CVR Energy may use these channels to distribute material information about the Company and to communicate important information about the Company, corporate initiatives and other matters. Information that CVR Energy posts on its website could be deemed material; therefore, CVR Energy encourages investors, the media, its customers, business partners and others interested in the Company to review the information posted on its website. Contact Information: Investor Relations Richard Roberts (281) 207-3205 InvestorRelations@CVREnergy.com Media Relations Brandee Stephens (281) 207-3516 MediaRelations@CVREnergy.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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