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New Jersey Housing and Mortgage Finance Agency celebrates 40 years of service

TRENTON, N.J. — On Jan. 17, 2024, the New Jersey Housing and Mortgage Finance Agency (NJHMFA) celebrates its 40th anniversary.

Since its founding 40 years ago, NJHMFA’s programs have directly benefited hundreds of thousands of New Jersey residents by providing affordable housing options and vital mortgage assistance.

Through the Low-Income Housing Tax Credit program, NJHMFA has financed 70,000 apartments, over 66,000 of which are affordable to low- and moderate-income households. Another 112 new multifamily developments are underway, which together will bring online another 9,000 affordable units. NJHMFA has helped more than 10,000 families buy their first home, representing more than $2 billion in market value at the time of purchase and nearly the same again in wealth created through equity.

NJHMFA has also helped more than 56,000 families facing housing instability by providing counseling and financial assistance. Beyond the numbers, NJHMFA’s work has improved thousands of lives: families have found stable homes, neighborhoods have been revitalized, and individuals have found support in their time of greatest need. Against this backdrop, NJHMFA’s 40th anniversary commemorates not only the Agency’s work, but the substantial impact investment in New Jersey’s residents can have on our communities and our future.

“For 40 years, the New Jersey Housing and Mortgage Finance Agency has helped many thousands of New Jerseyans become new homeowners,” said Governor Murphy.

“Our Administration’s partnership with NJHMFA has been essential to creating access to more affordable housing throughout our state. As the agency reaches this incredible milestone of an anniversary, we recognize the many programs the agency has created to make the American dream attainable for so many in our state.”

“NJHMFA exists to make New Jersey housing affordable to all New Jerseyans, and for 40 years, it has delivered. We have deployed innovative programs, policies, and partnerships, becoming a nationally recognized leader in affordable housing development and producing numerous award-winning and landmark properties,” said Executive Director Melanie Walter.

“NJHMFA is proud of the positive impact that we have on the lives of all New Jerseyans, particularly those looking for apartments or first homes that are affordable to them in the communities where they want to live. We look forward to continuing to support community development and revitalization in the years ahead.”

“Congratulations to the New Jersey Housing and Mortgage Finance Agency (NJHMFA) on 40 years of progressive and innovative work making communities more diverse, and municipalities economically stronger,” said DCA Acting Commissioner Jacquelyn A. Suárez.

“Today, New Jersey families and individuals with specialized housing needs have more options when seeking safe, affordable, and stable rental housing and homeownership opportunities. Without a doubt, New Jerseyans will continue to benefit from NJHMFA’s transformative work in the future.”

NJHMFA was created by an act of the New Jersey legislature merging the New Jersey Housing Finance Agency (HFA) and the New Jersey Mortgage Finance Agency (MFA) into a single organization to house the state’s affordable housing production capacity for both multifamily and single-family housing. Today, NJHMFA oversees a multifamily production portfolio that has grown to exceed $1.3 billion each year, and an approximately $1 billion annual single-family mortgage program. Over the past 40 years, NJHMFA has become the New Jersey state allocator of the federal Low-Income Housing Tax Credit (LIHTC), the host of the state’s preeminent down payment assistance program for new homebuyers, and the administrator of federal assistance programs designed to protect homeowners against the impacts of economic downturns.

Through the LIHTC program, created in 1984, NJHMFA has financed the creation or preservation of over 75,000 affordable apartments across 1,010 properties, with 66,000 of these units already completed and another 9,000 units forthcoming. These projects have provided thousands of low- and moderate-income residents throughout the state with safe and high-quality homes, cumulatively generated billions of dollars in the direct and indirect economic impacts of new construction, supported thousands of jobs, and helped municipalities advance their community development goals.

At the same time, NJHMFA has consistently expanded homeownership opportunities for low- and moderate-income households. Since the 2017 expansion in single-family programs, NJHMFA has allocated over $100 million in down payment and closing cost assistance to approximately 10,000 first-time low-and moderate-income homebuyers. These borrowers were able to make home purchases cumulatively valued at over $2 billion. Despite the challenges of recent interest rate hikes, this initiative has continued to grow, assisting about 2,500 households in 2023 alone. That same year, NJHMFA created a program specifically tailored to the needs of first-generation homebuyers, making New Jersey one of only a handful of states to offer such assistance.

In addition to creating multifamily housing opportunities and offering access to homeownership opportunities, NJHMFA works to effectively protect quality of life throughout the state by preventing the loss of homeownership. When the housing market collapsed in 2008, NJHMFA provided more than $320 million to over 8,000 impacted homeowners, as well as housing counseling that helped struggling homeowners avoid foreclosure. More than 56,000 New Jersey families have benefitted from NJHMFA’s free housing counseling initiatives. When the COVID-19 pandemic struck, NJHMFA developed the federally funded ERMA program, which has distributed more than $150 million to help more than 5,000 homeowners avoid foreclosure so far.

As NJHMFA marks its 40th anniversary, it uses the lessons of the past to shape its clear vision for the future. The Agency seeks to expand its impact, leveraging data resources, technology, and state and federal resources to meet the many diverse housing needs in evidence across the state. It will continue building strong community and development partnerships, optimizing resources, and addressing emerging housing issues proactively. In these ways, NJHMFA will remain at the forefront of New Jersey affordability, accessibility, and sustainability, supporting NJ residents and fostering community well-being in the decades ahead.

About Us: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs. To learn more about NJHMFA, visit: https://NJHousing.gov/

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Business Culture Economics Foodies/Tastylicious Lifestyle

Lorenzo Food Group, Inc. / York Street Market expands operations to include the Mid- and Southwest states

ENGLEWOOD, N.J. — (BUSINESS WIRE) — The country’s premier food services and logistics company is expanding. York Street Market, a subsidiary of Lorenzo Food Group, Inc. and a leading provider of fresh-food solutions, today announced its updated strategy for expansion into the Mid- and Southwest regions of the United States, with future plans to reach the West coast.

 

Through strategic partnerships and collaborations, owners Joe and John Lorenzo will bring their Grab-&-Go branded programs to new territories marking an expanded commitment to the highest standards of quality, freshness, and safety that have made York Street Market the biggest name in food services.

 

From Wisconsin to Memphis and west to Kansas City, the expanded Grab-&-Go program will capitalize on YSM’s expertise in innovative route planning to maximize efficiences and drive sales, bringing the widest variety of the freshest foods to a new and eager audience. Owner Joe Lorenzo expressed excitement for the new development, emphasizing YSM’s commitment to easing partner labor concerns, ensuring product consistency, and meeting the demand for safe, high-quality food.

 

Established in 1967 as a one-truck meat and cheese distribution route in northern New Jersey, Lorenzo Food Group, Inc. / York Street Market has since evolved to process over 300,000 orders annually, drive over 4 million miles a year, and service nearly half the country using its own distribution. With facilities and hub stations throughout its service areas, a dedicated transportation team managing a fleet of over 200 refrigerated trucks, and a proven record of excellence in private label and co-packing services, YSM leverages its unique infrastructure and industry expertise to control every step of the process, from order to delivery.

 

With this new growth into the Mid- and Southwest, York Street Market will increase its market share, strengthen its distribution and service networks, and improve its ability to serve and support its partners wherever they do business, from universities, airports, and hospitals, to convention centers, hotels, sports arenas, and beyond.

 

ABOUT Lorenzo Food Group, Inc. / York Street Market

Lorenzo Food Group, Inc. / York Street Market is a family owned and operated company offering fresh-food solutions for customers seeking a higher standard of quality and service. With turnkey and bespoke programs in catering, grab-&-go, boxed meals, and deli, York Street Market delivers first-class products at an equitable price, creating high-quality and cost-effective solutions for every partner.

Contacts

Daniel O’Donnell

Chief Operating Officer

732-616-7359

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Business Culture Digital - AI & Apps Economics Lifestyle News Now! Perspectives Regulations & Security Technology

Apple’s commissions from third-party iOS apps seemingly confrontational stance at odds with regulatory pressure

As of Thursday, developers can begin exercising their court-established right to tell US customers about better prices on the web. These awful Apple-mandated confusion screens are over and done forever.

 

John Gruber / Daring Fireball:

 

 

—  That take didn’t last long.

 

Sweeney, on Wednesday at 7 p.m., after Apple released the details of its intended compliance with the anti-steering (anti-anti-steering?) mandate from the Epic v. Apple case:

 

A quick summary of glaring problems we’ve found so far:

  1. Apple has introduced an anticompetitive new 27% tax on web purchases. Apple has never done this before, and it kills price competition. Developers can’t offer digital items more cheaply on the web after paying a third-party payment processor 3-6% and paying this new 27% Apple Tax.

[Sweeney’s points 2–4, complaining about Apple’s stringent design, presentation, and privacy demands regarding external links, omitted.]

 

Epic will contest Apple’s bad-faith compliance plan in District Court.

 

Sweeney’s description makes it sound as though Apple is demanding its commission from all web sales for apps and services that have an iOS app. They’re not. They’re only demanding the commission from web sales that occur within 7 days of a user tapping through to the web from the new External Purchase Links entitlement in an app. Any app or service that already sells over the web, without paying a cent to Apple, can continue to do so in exactly the same way.

 

 

Also, Apple has done this before: what they announced yesterday is almost exactly in line with their compliance with Netherlands regulations pertaining to dating apps in 2022.

 

Before yesterday:

  • iOS app developers could sell digital content and subscriptions over the web, without paying Apple any commission.
  • iOS apps outside the “reader” category could not link to, nor even tell users about, those web purchases from within their apps.

After yesterday:

  • Apps that wish to link to — or, I think, even inform users about — web purchasing options from within their iOS apps must (a) still offer Apple’s IAP for those items; (b) pay Apple its adjusted 27/12 percent commissions on web sales that come from inside iOS apps; (c) send Apple sales data monthly and submit to audits of their sales; and (d) follow Apple’s stringent design edicts for these in-app links to the web.
  • Apps that do not link out to their web stores from within their iOS apps using Apple’s new External Purchase Links entitlement can continue whatever they were doing before yesterday. For apps that do nothing new, Apple is collecting nothing new.

 

I’m only surprised that Sweeney was seemingly surprised by any of this. He genuinely seemed to think that Apple not only would, but had to allow links from within apps to the web for purchases without collecting any commission on those sales, and that developers could present those links however they chose.

 

I’m glad that Sweeney and Epic plan to contest this, because I’m genuinely curious whether Judge Yvonne Gonzalez Rogers sees Apple’s solution as complying with her injunction against their prior anti-steering rules. But I think it does comply.

 

To be clear, I think Apple should allow apps other than games to just tell users they can pay/buy/subscribe/whatever on the web, without any commission. That the rules which have applied only to “reader” apps since early 2022 should be extended to all apps other than games, perhaps alongside a requirement (which doesn’t apply to “reader” apps) that apps taking advantage of this also offer in-app purchasing.

 

I’d draw an exception for games — an exception that surely Sweeney would disagree with completely, given that he’s in the games business — because games are different, and hefty un-circumventable revenue commissions to platform owners are clearly standard for the video game industry. The iPhone and iPad are not PCs; they’re consoles for games and apps.

 

But I’m not sure at all that Apple is doing anything contrary to the law. Sweeney (and other critics of Apple’s stewardship of iOS as a tightly controlled console) believe Apple both shouldn’t and legally can’t comply with the anti-steering injunction this way. I only believe Apple shouldn’t, not that they legally can’t.

 

Most critics of Apple’s control over all iOS software are seemingly of the view that iPhones and iPads should, on principle, be largely like the Mac, where the App Store is an option, not the only game in town for software distribution. Personally, I am on the record wishing that Apple would allow some sort of “expert” or “developer” mode — chock full of warnings, perhaps even requiring a developer account to enable — that would basically offer the same options for installing third-party software on iOS as there are on the Mac. That’s me, personally, an expert user. But even setting aside every penny of revenue generated by the App Store,1 I see and understand many of the reasons why Apple wouldn’t want to do this. There are a lot of Mac users whose Macs are overrun by adware and other scammy software. I’m not talking about viruses or malware, even — but apps that just abuse the largely free-for-all nature of the Mac platform.

 

Basically, there’s an argument that iOS devices should be more like traditional PCs (including the Mac), on ethical or moral grounds. The “it’s my device, I should decide and control what software runs on it” argument. I get it. But I also get that most consumers’ Windows PCs, and many Macs,2 are riddled with bad software (privacy invasive, resource hogging, and all sorts of anti-user shenanigans you’d never think of) that App Store policies forbid. App Store review is far from perfect — I mean come on, that should go without saying — but it is undeniable that adversarial software is not a problem for any typical users on iOS. Nothing you install from the App Store can damage your iPhone or iPad experience. Nothing you install from the App Store is difficult to uninstall if you don’t like it. The same is true of dedicated game consoles like Switch, PlayStation, and Xbox — and to a lesser degree (because Google’s Play Store review seems comparatively lax) for Android.

 

But the cynical take is that it’s all about the money for Apple. Maybe the cynics are right! Let’s just concede that they are, and that Apple will only make decisions here that benefit its bottom line. My argument remains that Apple should not be pursuing this plan for complying with the anti-steering injunction by collecting commissions from web sales that initiate in-app. Whatever revenue Apple would lose to non-commissioned web sales (for non-games) is not worth the hit they are taking to the company’s brand and reputation — this move reeks of greed and avarice — nor the increased ire and scrutiny of regulators and legislators on the “anti-Big-Tech” hunt.

 

Apple should have been looking for ways to lessen regulatory and legislative pressure over the past few years, and in today’s climate that’s more true than ever. But instead, their stance has seemingly been “Bring it on.” Confrontational, not conciliatory, conceding not an inch. Rather than take a sure win with most of what they could want, Apple is seemingly hell-bent on trying to keep everything. To win in chess all you need is to capture your opponent’s king. Apple seemingly wants to capture every last piece on the board — even while playing in a tournament where the referees (regulators) are known to look askance at blatant poor sportsmanship (greed).

 

Apple’s calculus should be to balance its natural desire to book large amounts of revenue from the App Store with policies that to some degree placate, rather than antagonize, regulators and legislators. No matter what the sport, no matter what the letter of the rulebook says, it’s never a good idea to piss off the refs.

 

 

    1. That’s a metric buttload of pennies to set aside, to be sure. ↩︎
  2. iOS App Store policy critics often point to the Mac as all the evidence they need that Apple could open up software distribution on iOS with no ill effects to users. I wrote about this back in 2021, in a piece titled “Annotating Apple’s Anti-Sideloading White Paper”. Quoting from that column, which begins with a quote from Apple’s white paper:

    Page 9:

    iPhone is used every day by over a billion people — for banking, to manage health data, and to take pictures of their families. This large user base would make an appealing and lucrative target for cybercriminals and scammers, and allowing sideloading would spur a flood of new investment into attacks on iPhone, well beyond the scale of attacks on other platforms like Mac.

     

    Here Apple dances around the elephant in the room — the question of why iOS shouldn’t just work like the Mac with regard to non-App Store software. Apple’s deft argument is that there are far fewer Macs than iOS devices, making the Mac a less enticing target for scammers and crooks (including privacy crooks). That’s more or less the argument Windows proponents used to explain the profound prevalence of malware on Windows compared to the Mac back in the day, whilst Apple (and Mac proponents) argued otherwise, that the Mac actually was far more secure at a technical level.

     

    But the truth Apple won’t come out and say is that it’s both. The Mac was more secure by design, but also a far less enticing target because of how many more users were (and still are) on Windows. And, today, iOS is more secure and private than the Mac. That’s the nature of the Mac as a full PC platform.

     

    I’ll admit it: if Mac-style sideloading were added to iOS, I’d enable it, for the same reason I enable installing apps from outside the App Store on my Mac: I trust myself to only install trustworthy software. But it doesn’t make me a hypocrite to say that I think it would be worse for the platform as a whole.

     

    The Mac is fundamentally designed for users who are at least somewhat technically savvy, but tries its best to keep non-savvy users from doing things they shouldn’t. But you can always hurt yourself, sometimes badly, with any true power tool. The iPhone is the converse: designed first and foremost for the non-savvy user, and tries to accommodate power users as best it can within the limits of that primary directive.

     

 

— Techmeme

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Culture Education Entertainment News International & World Lifestyle Perspectives

RASA Film Group launches collective focusing on strong female protagonists and positive Muslim characters

U.S.-based RASA Film Group is launching a film collective at the Sundance Film Festival.

 

The collective is actively exploring projects featuring strong female protagonists, narratives centered around social justice and stories that portray Muslim characters in positive and empowering roles.

 

RASA is in talks for future projects involving Muslim or Pakistani women talent such as Aizzah Fatima “(Americanish),” Mehreen Jabbar “(Farar),” Afia Nathaniel “(Dukhtar),” Mahnoor Euceph “(Eid Mubarak)” and Rehana Lew Mirza      (Wishtree).”

 

RASA is the brainchild of four partners of South Asian origin. Asad Butt is the founder and CEO of Rifelion Media, a film and podcast studio elevating diverse voices. He is the executive producer of the forthcoming “Ramadan America” film anthology and the “King of the World” podcast series. Butt is also a startup advisor and investor, primarily working with pet care and education founders and accelerator programs.

 

Sujit Chawla was a producer on the groundbreaking independent film “American Desi,” one of the seminal films chronicling the South Asian community in the U.S. Rohi Mirza Pandya is co-founder of Box Office Guru Media, Inc., a multicultural marketing agency, a creative producer and Diversity, Equity, Inclusion and Belonging consultant (DEIB) for Desipina Productions. She is also one of the founders of the first ever South Asian House at SXSW and Tribeca Festival in 2023 and was an executive producer on Oscar-qualified short film “Eid Mubarak” which played at last year’s Red Sea International Film Festival.

 

Atul Prashar individually, or as founding partner of KMH Group, has invested in more than 200 public-private tech-first companies in media, entertainment and sports. With previous stints in music and Bollywood, he has increasingly focused investing and advisory efforts towards global film projects that positively promote the South Asian diaspora.

 

“We are thrilled to be a diverse group of partners with a deep love for film and storytelling,” said Rohi Mirza Pandya. “Our combined wisdom and financial support will allow innovation in the industry and make a lasting impact.”

 

 

— Variety (EXCLUSIVE) 

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Business Culture Digital - AI & Apps Economics Healthcare Lifestyle Technology

Phibro Animal Health Corporation to host webcast and conference call on second quarter results

TEANECK, N.J. — (BUSINESS WIRE) — Phibro Animal Health Corporation (Nasdaq: PAHC) expects to announce its second quarter financial results on Wednesday, Feb. 7, 2024, after the market closes. Phibro management will host a conference call and webcast on Thursday, Feb. 8, 2024, at 9 a.m. ET.

 

Interested parties are invited to listen to the conference call and view the presentation slides by visiting https://investors.pahc.com. The discussion will also be available by dialing +1 (888) 330-2022 in the U.S. and Canada, or +1 (365) 977-0051 for international callers. Provide the conference ID 3927884.

 

A replay of the webcast will be available approximately two hours after the conclusion of the live event. To access the webcast recording, visit https://investors.pahc.com.

 

About Phibro Animal Health Corporation

Phibro Animal Health Corporation is a leading global diversified animal health and mineral nutrition company. We strive to be a trusted partner with livestock producers, farmers, veterinarians, and consumers who raise or care for farm and companion animals by providing solutions to help them maintain and enhance the health of their animals. For further information, please visit www.pahc.com.

 

Our filings with the Securities and Exchange Commission are available online at www.sec.gov, www.pahc.com or on request from the company.

Contacts

Richard Johnson

Chief Financial Officer, Phibro Animal Health Corporation

+1-201-329-7300

investor.relations@pahc.com

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Culture Entertainment News International & World Lifestyle

‘Hanu Man’ Indian superhero film emerges as hit, adds screens in North America

Telugu-language Indian superhero film “Hanu Man” has emerged as a hit and is adding screens in North America. The film is set in the fictional village of Anjanadri and follows Hanumanthu, who miraculously awakens Hindu god Lord Hanuman’s power after being involved in an accident near the sea.

 

It is directed by Prasanth Varma “(Zombie Reddy),” stars Teja Sajja “(Adbhutam),” Amritha Aiyer “(Arjuna Phalguna),” Varalaxmi Sarathkumar “(Kota Bommali PS)” and Vinay Rai “(Gandeevadhari Arjuna).” It is produced by Niranjan Reddy Kandagatla for Primeshow Entertainment.

 

“Hanu Man,” distributed by California-based Nirvana Studios in North America, opened in 430 locations to a three-day weekend debut of $2.3 million, according to numbers released by Comscore.

 

“It was a crowded release weekend but we were well prepared and put in a lot of thought, had a release strategy planned for the film, and we covered every city. For a film of this scale, opening across 430 locations is pretty good,” Nirvana’s Sundeep Yerramreddy told Variety.

 

India celebrates the Pongal/Sankranthi holiday on Monday, Jan. 15, which is also MLK day in the U.S., and several films released during the period to benefit from the long weekend. In the Indian film release lineup “Hanu Man” opened against Telugu-language action films, “Guntur Kaaram,” starring superstar Mahesh Babu, and “Saindhav,” headlined by veteran Venkatesh Daggubati and Nawazuddin Siddiqui; Tamil-language film period action epic “Captain Miller,” starring A-lister Dhanush; Sriram Raghavan’s thriller “Merry Christmas,” featuring Katrina Kaif and Vijay Sethupathi, in Tamil and Hindi-language versions; Tamil-language sci-fi film “Ayalaan,” starring Sivakarthikeyan; Telugu-language period action drama “Naa Saami Ranga,” headlined by Akkineni Nagarjuna; and Malayalam-language crime thriller “Abraham Ozler,” starring Jayaram.

 

Made on a modest budget of approximately $2.5 million, “Hanu Man” released Jan. 12 and has already grossed $9 million worldwide, including $6 million in India, $188,000 in the U.K., $181,000 in Australia and $136,000 in the U.A.E., besides the U.S. collections.

 

In North America, the film was promoted across radio and social media, especially Instagram. This was backed up by offline, on the ground promotions via tie-ups with South Asian restaurants and grocery stores. In Hindu mythology, Hanuman is the devoted companion of Lord Rama, in whom interest is exceptionally high these days ahead of the consecration of a temple in his name at Ayodhya, India, next week.

 

“The film received a tremendous response and we are receiving requests to add cities that we couldn’t get due to the competition in the first week,” Yerramreddy said. Nirvana is adding at least 100 locations across North America from Jan. 18. Yerramreddy anticipates that the film will cross $3 million during the extended MLK weekend. “The film is going very well and $6 million to $7 million is achievable at this point,” Yerramreddy said. If it does, “Hanu Man” will join the ranks of “RRR,” the “Baahubali” films and “Salaar” as one of the highest grossing Telugu-language films in North America.

 

As revealed at the end of “Hanu Man,” a sequel titled “Jai Hanuman” is due in 2025.

 

Meanwhile, the team is basking in the success of the film. Varma told Variety, “The response is overwhelming. It feels surreal. I’m humbled by all the praises and love.” Sajja added, “This is possible only because of the audience. This is their success. Just one word – gratitude.” Kandagatla said, “We are incredibly grateful to our amazing audience whose overwhelming support turned our film into a blockbuster. Your enthusiasm and love have made this journey truly unforgettable. Thank you.”

 

 

 

— Variety (EXCLUSIVE) 

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Culture Entertainment News International & World Lifestyle Programs & Events

Kristen Stewart’s ‘Love Lies Bleeding,’ ‘Supersex’ Netflix series added to Berlin Film Festival Special lineup

“Love Lies Bleeding” starring Kristen Stewart and Netflix’s “Supersex” series have been added to Berlin Film Festival’s Special lineup.

 

A romantic thriller centered on a bodybuilder and gym manager, “Love Lies Bleeding” is directed by “Saint Maud” helmer Rose Glass and will have its world premiere at Sundance this month. “Love Lies Bleeding” also stars Katy O’Brian, Ed Harris, Jena Malone, Anna Baryshnikov and Dave Franco.

 

 

“Supersex,” based on the life of porn star Rocco Siffredi, is created and written by Francesca Manieri. The series, which premieres on Netflix March 6, will look at how “Rocco Tano — a simple guy from Ortona [a small town in central Italy] — became Rocco Siffredi, the most famous pornstar in the world.”

 

Another standout is “Made in England: The Films of Powell and Pressburger,” a documentary by David Hinton that features rare archival material from the filmmakers and is narrated by Martin Scorsese.

 

Other additions include Nicolas Philibert’s documentary “Averroès & Rosa Parks; Heo Myeong-haeng’s “Beom-Joe-do-si 4 (The Roundup: Punishment),” the latest chapter of the successful Korean action series; the documentary “Elf Mal Morgen: Berlinale Meets Fußball (Eleven Tomorrows: Berlinale Meets Football);” “Exergue – on documenta 14” by Dimitris Athiridis, the second-longest film ever made at 840 minutes; “Gakuryu Ishii’s “Hako Otoko (The Box Man),” described by the Berlinale as a “surreal story based on the iconic book by Kobo Abe in which a cardboard box becomes the perfect shell for men who want to withdraw from society and gaze without being seen”; “Das leere Grab (The Empty Grave)” by Agnes Lisa Wegner and Cece Mlay; “Shikun” by Amos Gitai; and Abel Ferrara’s Ukraine documentary “Turn in the Wound.”

 

Berlin Film Festival runs from Feb. 15-25.

 

 

 

— Variety

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Business Culture International & World Lifestyle Perspectives Regulations & Security

AM Best affirms Issue Credit Rating of Fairfax Financial Holdings Limited’s reopens senior unsecured notes

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) of the 6% senior unsecured notes, due December 2033, of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada). The outlook of this Credit Rating (rating) is stable.

 

The rating applies to the recently issued $200 million 6% senior unsecured notes, due 2033, and its existing $400 million 6% senior unsecured notes, due 2033, issued Dec. 7, 2023. The additional notes offered constitute a further issuance of, and are fungible with, the existing notes. The $200 million of additional notes were priced at 100.998%, plus accrued interest from Dec. 7, 2023, with a yield to maturity of 5.863%. These additional notes offer terms identical to the existing notes issued on Dec. 7, 2023, with the exception of the issue date and offering price.

 

The Long-Term Issuer Credit Rating of Fairfax, as well as the ratings of its operating subsidiaries and all other debt issuances are unchanged. Fairfax intends to use substantially all of the net proceeds of the offering to repay outstanding indebtedness with upcoming maturities and use any remainder for repayment of other outstanding indebtedness of Fairfax or its subsidiaries and for general corporate purposes.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Dan Hofmeister, CFA, FRM, CAIA, CPCU
Senior Financial Analyst
+1 908 882 1893
dan.hofmeister@ambest.com

Gregory Dickerson
Director
+1 908 882 1737
gregory.dickerson@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318

al.slavin@ambest.com

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Business Culture Digital - AI & Apps Entertainment News International & World Lifestyle

Popular Israeli series ‘Shtisel’ changes US home to Amazon Prime Video

“Shtisel,” the popular series following the lives of a tight-knit ultra-Orthodox family in Jerusalem, is changing its U.S. home.

 

Previously available on Netflix, all three seasons of “Shtisel” have been acquired by Amazon Prime Video from Yes Studios.

 

 

The award-winning drama, which helped launch the international careers of Shira Haas “(Unorthodox)” and Michael Aloni “(Beauty Queen of Jerusalem),” will begin its rollout on Prime Video this month with Season 1 debuting on Jan. 16.

 

The deal comes on the heels of “Shtisel” launching last month on global Israeli content platform Izzy, as well as the Jewish storytelling platform ChaiFlicks for the U.S., Australia and New Zealand.

 

Created and written by Ori Elon and Yehonatan Indursky, the series became a global phenomenon when it first aired on Netflix, offering unique insights into Haredi society. “Shtisel” is produced by Abot Hameiri Barkai for Yes TV. The series won 17 Israeli Academy Awards, including best drama series, script, actor (twice) and actress.

 

“With its endearing characters and compelling look into everyday life in an ultra-orthodox community, ‘Shtisel’ has quickly become an addictive and binge-worthy series wherever it has been made available,” said Sharon Levi, Yes Studios’ managing director.

 

“Its reputation and huge word-of-mouth support means that it is in constant demand, so we are excited to now introduce the Shtisel family to a whole new audience through this latest partnership with Amazon, as well as the recent deals with Izzy and ChaiFlicks.”

 

In related news, Yes Studios recently struck a new deal with Izzy for three more titles. The drama “Just for Today,” which won the special jury prize at Series Mania in 2019, launched on Izzy Dec. 28; and the romantic comedy “Who Died?” and Season 1 of “The Chef” are slated to drop later this month. Another show on Yes Studios’ slate, “Fire Dance,” the TV series debut of Rama Burshtein-Shai, will debut on ChaiFlicks in the U.S., Canada, Australia and New Zealand in early 2024.

 

 

 

— Variety (EXCLUSIVE) 

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‘Dalida’ star Sveva Alviti and Newton Mayenge board Cannes-set romance ‘The Other Side of Fame’

Italy’s Sveva Alviti “(Dalida)” and U.S. actor Newton Mayenge “(Winning Time: The Rise of the Lakers Dynasty)” are attached to star in Cannes-set romantic drama “The Other Side of Fame” to be directed by Erik Bernard “(Free Dead or Alive).”

 

 

Alviti is a model and actor who played the iconic Egyptian-Italian singer in the 2017 “Dalida” biopic by French director Lisa Azuelos. In “The Other Side of Fame,” she will play a young woman who becomes romantically entangled in Cannes with an elusive American played by Mayenge, “compelling her to confront the profound choice between the allure of fame and the promise of true love,” according to the project’s synopsis.

 

Besides Mayenge – who played NBA legend Jim Chones in the HBO series about the Los Angeles Lakers – “The Other Side of Fame” will also feature Alejandro De Hoyos, who recently appeared in action comedy “The Man From Toronto” with Kevin Hart and Woody Harrelson, and in Bernard’s indie thriller “Free Dead or Alive.”

 

Bernard, who besides planning to direct also wrote the script for “The Other Side of Fame,” said in a statement that the story stems from attending the Cannes Film Festival in 2022 and that the South of France “will definitely be a character in the film.” The plan is to shoot in Cannes and the surrounding area this winter.

 

“The Other Side of Fame” is being produced by Bernard, Denise Bernard and Jasmin Espada under the Rebel 6 Film banner along with Untold Content’s Joel M. Gonzales and Pejman Partiyeli.

 

Alviti is represented in Europe by Diberti & Company. Mayenge is repped by Eris Talent Agency, Eleven 7 Talent Agency & Feig Finkel. De Hoyos is repped by Marlene Agency & Daniel Hoff Agency.

 

 

 

— Variety (EXCLUSIVE)