Knotel CEO says flex-office provider has new funding: report

first_imgShare via Shortlink Photo illustration of Knotel CEO Amol Sarva (Sarva by Sasha Maslov; iStock)As Knotel battles lawsuits from landlords, evictions and accusations of unpaid rent, its CEO says the flex-office provider has secured new funding.Knotel CEO Amol Sarva reportedly told staff on Monday that the company has gotten a fresh influx of cash, according to Business Insider, citing a source with knowledge of the all-hands meeting.Sarva did not disclose the amount of money raised or details about who was involved, although a source told the publication that it is a restructuring type of deal that includes equity and debt.Earlier this summer, Sarva said he had raised $10 million and wanted to raise $100 million by the end of August. Forbes reported that the new funding could cut the company’s valuation in half.In August 2019 the company said it raised $400 million through a Series C raise, which gave Knotel a valuation of at least $1.3 billion. Investors included Mori Trust, Itochu Corp, and Mercuria Investment Co, along with Newmark Knight Frank, Norwest Venture Partners, and the Sapir Organization, which is led by Alex Sapir.This year, Knotel has suffered along with other co-working companies as demand for office space has lagged during the pandemic. The company has been hit with a dozens of lawsuits over the past few months from landlords who claim they have not been paid, as well as eviction notices at two of its spaces.Knotel has also been scaling back its once-ambitious expansion plans and in November said it was looking to trim 60 percent of its 4.8 million-square-foot global portfolio. It has also cut staff several times over the course of the pandemic.[Business Insider] — Keith Larsen Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlinkcenter_img TagsCommercial Real EstateKnoteloffice marketReal Estate Lawsuitslast_img read more

Victoria’s Secret may close 50 stores this year

first_img“Over the next six months, we will continue to work toward the separation of the two businesses, proceeding down a dual track to prepare for either a spin-off or a sale,” L Brands said in a statement to CNN.Although Bath & Body Works is closing as many as 40 of its stores within malls, it will also open about 50 locations in North America this year, many of which will be standalone or off-mall locations.Mall retailers have struggled in recent years — even before the pandemic — as mall foot traffic has diminished. Gap and Macy’s have both announced plans to fully or partially exit malls.[CNN] — Sasha JonesContact Sasha Jones Share via Shortlink Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink (Getty, iStock)Victoria’s Secret’s plans for its future are, well, not so secret.The lingerie retailer will close 30 to 50 stores in the United States and Canada this year, CNN reported. The move comes after the brand closed 241 stores in 2020.The closures will leave Victoria’s Secret with 848 stores across the two countries, down from more than 1,100 just a year ago.Its parent company, L Brands, previously made a deal with private equity firm Sycamore Partners to sell a majority stake in Victoria’s Secret and take the company private, but those plans fell through. The company, which also owns Bath & Body Works, is still exploring a sale of the lingerie brand.Read moreGap Inc. will close 350 stores and exit malls entirelyMacy’s to open smaller stores, bigger fulfillment centersPE firm to take Victoria’s Secret private as Leslie Wexner steps down Full Name* Message*last_img read more

WATCH: How the eviction ban is affecting landlords, renters

first_img Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags New York’s eviction moratorium has saved some from ruin, but threatens to cause it for others.The moratorium, which has stretched on for 13 months, isn’t the only of its kind: The Centers for Disease Control and Prevention announced its own national eviction moratorium last September which, like New York’s, has been repeatedly extended. And the state moratorium’s most recent expiration date was May 1, but this week lawmakers voted to extend it to Aug. 31.The moratoriums have been a point of contention. Some tenant advocates say that while the ban on evictions is needed, rental aid doesn’t go far enough. Meanwhile, some landlords have been vocal in their opposition to the state and federal moratoriums. Some say their tenants have taken advantage of the system, while smaller landlords say nonpayment from tenants has made it difficult to meet mortgage payments.In a recent video series, The Real Deal looked at what the moratorium has meant for both sides.While property owners dispute it and even question its constitutionality, tenant advocates and researchers said that CDC’s moratorium is necessary during a pandemic. From the risk of coronavirus spread among unhoused people to the impossibility of navigating the housing court system during a lockdown, lawyers, epidemiologists and advocates found that the moratoriums were not only helpful but life-saving.The CDC’s moratorium is set to expire June 30. While states with their own eviction moratoriums in place may have differing deadlines, landlords and tenants alike are wondering what’s next. CoronavirusEvictionslandlordsPoliticsVideo Share via Shortlinklast_img read more

A 800 year record of nitrate from the Lomonosovfonna ice core, Svalbard

first_imgDetailed chemical analysis of the 122 m, relatively high-altitude and lowmelt Lomonosovfonna ice core provides the best-dated record of nitrate from Svalbard. A very significant non-linear trend present in the record shows: (a) a rise in concentrations from the 12th to the mid-16th century, (b) reasonably stable concentrations until the mid19th century, (c) a rise in concentrations into the 20th century, with (d) a rapid rise in the 1950s and (e) a decrease after the mid-1980s. Nitrate is well correlated with ammonium before 1920 and after 1960 but not in the intervening period. The correlation between ammonium and nitrate concentrations indicates that ammonium nitrate (NH4NO3) has been common at Lomonosovfonna. There are also places in the core where nitrate is very closely associated with calcium.last_img read more

Latest Jurassic-earliest Cretaceous age for a fossil flora from the Latady Basin, Antarctic Peninsula

first_imgDating Jurassic terrestrial floras in the Antarctic Peninsula has proved problematic and controversial. Here U–Pb series dating on detrital zircons from a conglomerate interbedded with fossil plant material provide a maximal depositional age of 144 ± 3 Ma for a presumed Jurassic flora. This is the first confirmed latest Jurassic-earliest Cretaceous flora from the Latady Basin, and represents some of the youngest sedimentation in this basin. The presence of terrestrial sedimentation at Cantrill Nunataks suggests emergence of the arc closer to the Latady Basin margin in the south compared to Larsen Basin in the north, probably as a result of the failure of the southern Weddell Sea to undergo rifting.last_img read more

Ionospheric evidence of thermosphere-to-stratosphere descent of polar NOx

first_imgDuring the northern hemisphere winter of 2003–2004 significant levels of stratospheric odd nitrogen (NOX) were observed descending from the mesosphere. Here we study subionospheric radio wave propagation data from Ny Ålesund, Svalbard, Norway to determine the origin of the mesospheric NOX. A clear change in the radio wave diurnal variation is observed, starting on January 13, 2004, lasting for 37 days. The behavior is consistent with the ionization, by Lyman-α, of thermospheric NOX descending into the mesosphere from altitudes above 90 km. Estimates of the concentration of NOX required to produce the observed ionization changes are consistent with the levels of previously published stratospheric mixing ratios after the NOX has descended into the stratosphere. The radio wave data shows that no significant proton or electron precipitation events into the mesosphere occurred at this time, and the mesospheric effects of the large storms in October/November 2003 had abated by late December 2003.last_img read more

Movements, at-sea distribution and behaviour of a tropical pelagic seabird: the wedge-tailed shearwater in the western Indian Ocean

first_imgThis is the first study using geolocators (global location sensing, GLS) to track the movements of a pelagic tropical seabird. We used GLS to describe at-sea distribution and activity patterns of wedge-tailed shearwaters Puffinus pacificus breeding on Aride Island, Seychelles, in the late chick-rearing, non-breeding and pre-breeding periods. During late chick-rearing and pre-breeding periods, shearwaters foraged relatively close to the colony. In the non-breeding period, shearwaters; were found on a west-east gradient along the equator, between 5 degrees N and 10 degrees S. Some of the tracked individuals showed little dispersion, staying as close as 1000 km to Aride Island, while others travelled 3500 km to the Central Indian Ocean Basin. Individual core areas of activity showed little overlap. Overall, wedge-tailed shearwaters showed short-distance movements and exploited relatively unproductive oceanic waters. At-sea distribution largely matched that of yellowfin and skipjack tunas, emphasising the importance of the association with subsurface predators rather than associations with physical oceanographic features that enhance primary productivity. During the non-breeding period, the feeding activity of, shearwaters was mainly concentrated in the daylight period, when tunas also forage. A different behaviour, characterised by a much lower proportion of the night sitting on the sea surface, was recorded in the pre-laying exodus of 1 female to more productive waters, suggesting a different feeding strategy and/or targeting of different prey. Knowledge of the at-sea distribution of wedge-tailed shearwaters allows quantification of the overlap with industrial fisheries, which will be crucial to devise fisheries policies for the Indian Ocean with important implications for the conservation of this species.last_img read more

Changes in the metastability of the midlatitude Southern Hemisphere circulation and the utility of nonstationary cluster analysis and split-flow blocking indices as diagnostic tools

first_imgChanges in the metastability of the Southern Hemisphere 500-hPa circulation are examined using both cluster analysis techniques and split-flow blocking indices. The cluster methodology is a purely data-driven approach for parameterization whereby a multiscale approximation to nonstationary dynamical processes is achieved through optimal sequences of locally stationary fast vector autoregressive factor (VARX) processes and some slow (or persistent) hidden process switching between them. Comparison is made with blocking indices commonly used in weather forecasting and climate analysis to identify dynamically relevant metastable regimes in the 500-hPa circulation in both reanalysis and Atmospheric Model Intercomparison Project (AMIP) datasets. The analysis characterizes the metastable regime in both reanalysis and model datasets prior to 1978 as positive and negative phases of a hemispheric midlatitude blocking state with the southern annular mode (SAM) associated with a transition state. Post-1978, the SAM emerges as a true metastable state replacing the negative phase of the hemispheric blocking pattern. The hidden state frequency of occurrences exhibits strong trends. The blocking pattern dominates in the early 1980s, and then gradually decreases. There is a corresponding increase in the SAM frequency of occurrence. This trend is largely evident in the reanalysis summer and spring but was not evident in the AMIP dataset. Further comparison with the split-flow blocking indices reveals a superficial correspondence between the cluster hidden state frequency of occurrences and split-flow indices. Examination of composite states shows that the blocking indices capture splitting of the zonal flow whereas the cluster composites reflect coherent block formation. Differences in blocking climatologies from the respective methods are discussed.last_img read more

Composition and evolution of the Ancestral South Sandwich Arc: implications for the flow of deep ocean water and mantle through the Drake Passage gateway

first_imgThe Ancestral South Sandwich Arc (ASSA) has a short life-span of c.20 m.y. (Early Oligocene to Middle-Upper Miocene) before slab retreat and subsequent ‘resurrection’ as the active South Sandwich Island Arc (SSIA). The ASSA is, however, significant because it straddled the eastern margin of the Drake Passage Gateway where it formed a potential barrier to deep ocean water and mantle flow from the Pacific to Atlantic. The ASSA may be divided into three parts, from north to south: the Central Scotia Sea (CSS), the Discovery segment, and the Jane segment. Published age data coupled with new geochemical data (major elements, trace elements, Hf-Nd-Sr-Pb isotopes) from the three ASSA segments place constraints on models for the evolution of the arc and hence gateway development. The CSS segment has two known periods of activity. The older, Oligocene, period produced basic-acid, mostly calc-alkaline rocks, best explained in terms of subduction initiation volcanism of Andean-type (no slab rollback). The younger, Middle-Late Miocene period produced basic-acid, high-K calc-alkaline rocks (lavas and pyroclastic rocks with abundant volcanigenic sediments) which, despite being erupted on oceanic crust, have continental arc characteristics best explained in terms of a large, hot subduction flux most typical of a syn- or post-collision arc setting. Early-Middle Miocene volcanism in the Discovery and Jane arc segments is geochemically quite different, being typically tholeiitic and compositionally similar to many lavas from the active South Sandwich island arc front. There is indirect evidence for Western Pacific-type (slab rollback) subduction initiation in the southern part of the ASSA and for the back-arc basins (the Jane and Scan Basins) to have been active at the time of arc volcanism. Models for the death of the ASSA in the south following a series of ridge-trench collisions, are not positively supported by any geochemical evidence of hot subduction, but cessation of subduction by approach of progressively more buoyant oceanic lithosphere is consistent with both geochemistry and geodynamics. In terms of deep ocean water flow the early stages of spreading at the East Scotia Ridge (starting at 17-15 Ma) may have been important in breaking up the ASSA barrier while the subsequent establishment of a STEP (Subduction-Transform Edge Propagator) fault east of the South Georgia microcontinent (< 11 Ma) led to formation of the South Georgia Passage used by the Antarctic Circumpolar Current today. In terms of mantle flow, the subduction zone and arc root likely acted as a barrier to mantle flow in the CSS arc segment such that the ASSA itself became the Pacific-South Atlantic mantle domain boundary. This was not the case in the Discovery and Jane arc segments, however, because northwards flow of South Atlantic mantle behind the southern part of the ASSA gave an Atlantic provenance to the whole southern ASSA.last_img read more

Early last glacial intra-interstadial climate variability recorded in a Sardinian speleothem

first_imgChemical and physical proxy data from a precisely dated early last glacial (∼113–110 ka, MIS5d) Sardinian stalagmite reveal a sub-millennial-scale, cool-dry climate event centered at 112.0 +0.52/-0.59 ka, followed by a rapid return to warm-wet conditions at 111.76 +0.43/-0.45 ka. Comparison with regional speleothem records and the palaeotemperature proxy record from the NGRIP ice core (Greenland) suggests that this event corresponds to Greenland Interstadial (GI) 25b and 25a, an intra-interstadial climate oscillation within GI-25, according to the recent Greenland stratigraphic framework. The speleothem age is in reasonable agreement (within 0.8 kyr) with that of the corresponding event in Greenland based on the GICC05modelext ice chronology but is older by about 3.7 kyr than the Greenland age based on the AICC2012 chronology.last_img read more