Month: January 2024

Hot off the press from HARMAN EXPLORE in Las Vegas! Tune in to find out what will be driving the audio business in 2024: what are the trends, what do consumers want and what new products and features can we look forward to?

Host Oisin Lunny is joined by two experts to discuss all things audio. Evelyn Heinbach, Vice President, Corporate Strategy – Lifestyle Division HARMAN and Carsten Olesen, President Consumer Audio at HARMAN. The episode kicks off with Guy Hammett, Senior Market Analyst at Futuresource Consulting who shares some insights into the audio market of 2024.

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About this podcast

Audio Talks. A podcast on all things audio presented to you by HARMAN and our family of audio brands including JBL, Harman Kardon and AKG. Host Oisin Lunny, music journalist and audio enthusiast, will interview expert guests, legends of the music industry and audio scientists to discuss the power of music and audio in all its facets. New episode bi-weekly every Thursday.

Eaton earns perfect score on Human Rights Campaign Foundation’s Corporate Equality Index for the eighth time and Equality 100 Award: Leader in LGBTQ+ Workplace InclusionEaton named one of America’s Greatest Workplaces for Diversity in Newsweek for the second year in a row, earning five out of five stars

DUBLIN, January 22, 2024 /3BL/ – Intelligent power management company Eaton (NYSE:ETN) announced it was recently recognized by two prestigious organizations for its deep commitment to delivering an inclusive employee experience. First, Eaton achieved a 100% on the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI). Second, Newsweek once again named Eaton one of America’s Greatest Workplaces for Diversity. Eaton believes inclusive behaviors drive innovation and growth, enable high-performing teams and deliver confidence to stakeholders that they are engaging with a sustainable, socially responsible company.

The CEI, an annual benchmark for workplace equality, reflects how U.S.-based companies promote LGBTQ+-friendly workplace policies in the U.S. and abroad. It measures areas such as non-discrimination policies, equitable benefits, culture and corporate social responsibility. By satisfying all of the CEI’s criteria this year, Eaton earned the Human Rights Campaign Foundation’s Equality 100 Award: Leader in LGBTQ+ Workplace Inclusion.   

Scoring for America’s Greatest Workplaces for Diversity is based on publicly available data, interviews with Human Resources professionals, press and anonymous online employee surveys at companies with more than 1,000 employees. Researchers also considered more than 21 Key Performance Indicators (KPIs) such as diversity ratio, diversity reviews and information from social media platforms.

“These latest recognitions reflect our commitment to being a model for inclusion and diversity in our industry,” said Cindy Fisher, vice president, Global Inclusion and Diversity, Eaton. “We are passionate about this important work because we know that it makes us stronger as individuals and as a company. We also know there is more work to do.”

The recognitions mark the latest in Eaton’s inclusion and diversity journey. For the past three years, Eaton was named a Best Place to Work for Disability Inclusion, earning 100 out of 100 on the 2023 Disability Equality Index (DEI). In Mexico, Eaton was certified as a Best LGBTQ+ Place to Work and Age-Friendly Employer™ for 2024. To read more on Eaton’s journey, visit the latest Global Inclusion and Diversity Transparency Report. A list of current job openings can be found here.

Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.

Eaton was founded in 1911 and has been listed on the New York Stock Exchange for more than a century. We reported revenues of $20.8 billion in 2022 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on LinkedIn.

Contact:
Drew Horansky
+1 (216) 523-4306
DrewAHoransky@Eaton.com

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Originally published on bloomberg.com

India is one of the fastest-growing economies in the world. Still, economic development is often uneven, significantly impacting the estimated two million children living on India’s streets.

At Bloomberg, we support organizations that fund education and programs that help provide young people with opportunities for a brighter future — an ethos championed by our founder, Mike Bloomberg, and his belief in the importance of education for all.

Bloomberg has partnered with Magic Bus India Foundation for almost two decades, a non-governmental organization that aims to educate and empower children through mentorship and coaching. As part of this partnership, Bloomberg employees regularly mentor youth in Mumbai through Magic Bus’ Livelihood Programme, equipping them with skills that better prepare them for employment and contributing to their overall personal and professional development.

This year, Bloomberg also sponsored Magic Bus’ participation in the Street Child Cricket World Cup (SCCWC), which brings together children from underserved communities worldwide for a fun-filled cricket championship.

SCCWC strives to be more than just a showcase of sporting talent, with the tournament also serving as an opportunity for kids growing up in extreme poverty to share their experiences and advocate for support and resources throughout their lives.

The second running of the tournament took place in Chennai in September 2023 and saw 19 teams from 14 countries — including India, Bangladesh, Brazil, England, Hungary, Nepal and Tanzania — coming together in a wonderful display of skill and camaraderie.

“Through the partnership with Magic Bus, we’ve had the opportunity to impact many young lives,” says Rajiv Mirwani, Head of South Asia Sales at Bloomberg. “This initiative complements Bloomberg’s ethos by combining mentorship and sport and driving towards educational outcomes. It’s a terrific initiative for us as a company, and we’re truly proud to support Magic Bus here in India.”

Learn more about Magic Bus and its work here and Bloomberg’s Corporate Philanthropy initiatives here.

KeyBank Community Development Lending and Investment (CDLI) in partnership with the Urban Investment Group (UIG) within Goldman Sachs Asset Management, invested $135.6 million of 4% Federal LIHTC Equity and provided a $200 million construction loan for the planned renovation of Andrews Terrace, in Rochester, New York. Additionally, KeyBank Commercial Mortgage Group closed $73.1 million Fannie MTEB and KeyBanc Capital Markets underwrote $163 million of tax-exempt bonds for this project.  Conifer Realty, LLC (Conifer), a Rochester based nationally ranked, full-service real estate company specializing in the development, construction, management, and ownership of high-quality, affordable housing communities, is partnering with Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer,, on this project. 

This iconic 526-apartment building complex on Rochester’s waterfront provides housing for low-income senior (62+) and disabled residents and their families.

“KeyBank has had a steadfast commitment helping the clients and communities we serve thrive,” said Rob Likes,  President of KeyBank’s CDLI team. “We are deeply committed to helping underserved populations and are proud to partner with Conifer Realty and Community Preservation Partners to renovate, safe and decent affordable housing for low-income seniors and disabled residents.”

“We are excited to partner with Conifer Realty and Community Preservation Partners to revitalize Andrews Terrace, which provides a critical supply of affordable housing to Downtown Rochester. Our investment will help existing and new residents access safe, affordable housing and critical on-site services. We look forward to the lasting impact on the community of this next chapter in Andrews Terrace’s nearly 50-year history,” said Scott Maxfield, a Managing Director in the Urban Investment Group within Goldman Sachs Asset Management. 

The capital investment will have significant impact on the community and its residents as it preserves a much-needed affordable housing asset that sits within historical nexus of redlining and disinvestment within downtown Rochester .  This iconic 526-apartment building complex on Rochester’s waterfront built in 1975, and located at 125 St. Paul Street, Andrews Terrace consists of two 19- to 22-story elevator-served residential buildings containing 526 studio, one-, and two-bedroom apartments. Preservation of this unique 557,602 square-foot downtown development, designed in the “brutalist” architectural style, will complement Rochester’s ROC the Riverway Program, a unified plan which includes dozens of transformational projects along the Genesee River to revitalize and leverage public and private investment that support critical community infrastructure and spur economic development and job creation.  In recent years, the development has faced capital repair and maintenance challenges beyond what the operating budget could cover. In response to this, Andrews Terrace will receive extensive renovations estimated at $101 million, with a total project investment of approximately $335 million.  

Most of the residents benefit from rental payment assistance under an existing Section 8 Housing Assistance Payment (HAP) contract, Andrews Terrace currently has 496 of its apartments reserved for residents earning an Average Medium Income (AMI) of 50% or less, with 30 apartments set at 60% or less of AMI.   In addition to the extensive renovations and in unit improvements on site there is also an extensive resident focused social services program.  The supportive service plan provides two (2) full time service coordinators on site who will be available to provide referrals to agencies such as LIHEAP (provides assistance to residents for payment of utilities), and other assistance programs to address food scarcity like food stamps and  food banks. In addition, will plan and coordinate holiday events, implement support systems and design activities that appeal to the residents. 

“We are grateful for KeyBank’s investment and commitment to creating high-quality, affordable housing communities, “said Vice President of CPP East, John Fraser. “Like many communities we serve across the nation, there is a significant need for affordable housing in Rochester, so we’re excited to preserve this iconic affordable housing development for years to come. “

“KeyBank and Goldman executed flawlessly on the financing,” said Ari Shachter, Director of Acquisitions, and project lead for Conifer. “We appreciate the depth and breadth of Key’s financing capabilities which were needed for the project. Andrews Terrace is a landmark and an important part of the community.”

All apartments will receive considerable kitchen upgrades including new countertops, painting, new appliances, fixtures, and cabinets. Bathrooms will also be refurbished with the installation of new fixtures, vanity, and wainscotting. Once completed, 5% of the community’s apartments will be brought into ADA compliance.

Common areas, including the lobby, community room, management office, maintenance shop, and parking garage, will be renovated with drywall repairs, painting, new flooring, and HVAC upgrades, as needed. 

There will also be several new outdoor additions to the community including a community garden on the property’s terrace, grandparents’ playground, a seating and grilling area, and bocce ball courts. Indoor amenities will include a fitness room, game room, reading nook, and two community rooms with serve-in kitchens. New mailboxes with parcel boxes will also be installed.

Additionally, elevators and electrical and plumbing systems will be upgraded. The building’s signature cantilevered balconies and connecting outdoor breezeways will be fully restored and upgraded with new finish coating, bringing them back to their historical glory. Windows and select doors will be replaced, and the façade will receive concrete and masonry repairs. 

Eric Steinberg, Jonathan Wittkopf, Anna Belanger, Robbie Lynn, and Celia Smoot of KeyBank CDLI arranged the debt and equity financing for the project. Sam Adams of KeyBanc Capital Markets underwrote the bonds.