Mario Lapointe addresses Dumbarton property development concerns
French-Canadian electronics entrepreneur Lapointe – a singer-songwriter whose stage name is Vintage – completed his takeover of the former Scottish Cup winners earlier this week.
The Quebec-based 57-year-old, who has been a hockey and football coach in his homeland for the past 20 years, stressed that he is determined to make the club profitable off the park and successful on it in the coming seasons.
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'The fans will always have that suspicion about some guy coming in,' he said. 'But there is no temptation there for me. I can't destroy nothing. I am all for this and have no problem with how things are set up.
'You have the community trust. That is not an entity I am involved with. It's a non-profit that was already there before I arrived. This community trust's role is to get the artificial turf. They put it on this land and rent it to me for, say, a dollar.
(Image: Colin Mearns) 'This group has people from the council, people from our club, people from the community. So, that ensures this land will be used for football purposes.
'We need to turn the facility into a community hub. We need to get the artificial grass down. That turf will help us have that seven-day activity going. It has to be win-win everywhere.
'I could have built housing around my place in Canada. It would have been much easier. I'm not coming across the pond to build housing.'
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Dumbarton have only been able to exit administration by becoming a new company – and Lapointe revealed that was the only route available to him.
'When I approached them, I was thinking it was a bankruptcy,' he said. 'Usually with a bankruptcy, you're looking at paying 20 cents on the dollar or whatever. But it wasn't that.
'There's particulars I can't talk about because they have me on an NDA (non-disclosure agreement). Forming a new company was the only option. We weren't allowed to do anything else actually.'
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NBC News
an hour ago
- NBC News
Young Chinese consumers are spending to feel good amid slower economic growth
HONG KONG — Young people in China may not be buying cars or houses, but there's always money for milk tea and toys. It's a challenging time to be a young person in China: The world's second-biggest economy is growing far slower than it was when their parents were their age, with the U.S.-China trade war threatening to further weigh on growth. Competition for jobs is cutthroat and monthly youth unemployment stands at about 15% on average, with Chinese universities churning out a record 12.22 million new graduates this year. Feeling 'besieged' in life in the face of these economic obstacles, young Chinese consumers at home and abroad are finding comfort in smaller purchases. 'I spend to make myself happy,' said Kitty Lu, a 23-year-old Chinese student in Melbourne, Australia. 'It sounds a bit reckless, but I do have a number in my mind.' Lu said most of her spending goes toward supporting celebrities she likes. Occasionally, she allows herself a 'small indulgence' in the form of 'blind box' toys such as Disney dolls or the Labubu monster figurines that have become a global frenzy. 'To be honest, I'm not that into these dolls,' she said, adding that the purchase is more about having fun with friends as they open the blind box together to see which doll is inside. Lu's spending habits reflect a growing trend in recent years among young Chinese who show 'low interest' in big purchases such as houses and cars but are embracing food and cultural products that offer 'instant emotional gratification,' according to the Fudan Development Institute, a Shanghai-based think tank. This phenomenon, also known as 'emotional consumption,' has resulted in average annual growth of about 12% in industries including films and games since 2013, according to a report in March by the Chinese software and internet services company Kingsoft. The overall market for emotional consumption is projected to exceed $270 billion this year, the report said. Sweet drinks, low prices, happier life One of the biggest beneficiaries of Chinese consumer trends has been the country's beverage sector, which according to S&P Global is expected to grow up to 6% this year. Mixue, a bubble tea chain known for its cheap drinks, now has more stores worldwide — over 45,000, with nearly 10% of them outside mainland China — than any other food and beverage chain, including McDonald's, which has a global store count of 43,000, and Starbucks, with 38,000. In March, Mixue's shares jumped more than 40% on its market debut in Hong Kong. The brand's success stems largely from its low prices and rapid expansion, especially in less developed cities, as Chinese people adjust their spending habits while grappling with job security and other economic concerns. Kelsey Yu, 23, a graduate student in Beijing, said she bought a bottle of lemonade from Mixue for the equivalent of less than $1 on a visit in April to the southern Chinese city of Jieyang. 'The drink quenched my thirst. It had a large portion and was cheap,' she said, adding that Mixue's items are 'better value for money' than those of many local competitors. Yu said that as a foodie, she drinks tea-based beverages at least once or twice a week and may 'indulge a bit more' while traveling. 'I usually order milk tea when I'm feeling tired or if I just want to have a good time,' she said. 'But I have self-control. So I won't have it every day.' A complicated picture of Chinese consumption While U.S. officials often say Chinese consumers are not spending enough, the situation is not as clear-cut as it is portrayed, analysts said. In the past quarter-century, China's consumer spending has grown an average of 8% or more each year, one of the highest rates among major economies. But it has been outstripped by investment, making consumption a smaller part of China's overall GDP. Speaking at the World Economic Forum's 'Summer Davos' event in Tianjin on Wednesday, Chinese Premier Li Qiang said China sought to become a 'mega-sized consumption powerhouse.' Boosted by government subsidies, China's retail sales grew 6.4% in May, the fastest rate since late 2023. Sales during this year's monthlong 618 online shopping festival, which ended June 18, were a record 855.6 billion yuan ($119 billion), according to retail data provider Syntun, 15.2% higher than last year. Young Chinese in particular are 'living frugally to spend big,' according to state-backed research. Though they are budget-conscious when it comes to daily necessities, they 'don't hesitate to splurge' for their hobbies and happiness, it said. 'I'd rather spend 300 yuan ($42) on a great meal, and if the food is really good, I would think it's totally worth it,' Yu said. 'But if it's a 300-yuan piece of clothing, I might hesitate.' Amid China's economic challenges, middle-class consumers are less brand-conscious and prefer cheaper alternatives, said Yaling Jiang, founder of ApertureChina, a consulting firm that specializes in consumer research. 'Now saving is seen as cool, and seeking value is seen as cool,' Jiang said. 'I think the downturn definitely changed the culture of spending.' Chinese mallgoers these days spend money almost exclusively on the first and second floors, where food and beverage shops are concentrated, Jiang said. 'People are walking around the mall with a cup of milk tea or coffee,' she added, looking at what's available in stores before going home to buy cheaper alternatives online. China's luxury market, which had accounted for almost a third of global sales, declined 18% to 20% last year, according to a January report by Bain and Company. 'I think there is less focus on the social status comparison, and more focus on what brings them personal happiness,' said Lynn Song, chief economist for greater China at ING, a post-pandemic change that has also been seen elsewhere. Consumers in China are both trading up and spending down, depending on the sector, said Shan Guo, a partner at Hutong Research, an investment advisory group based in Hong Kong. 'They are not buying luxury bags, but they are buying Pop Mart,' Guo said, referring to the Chinese retailer behind the Labubu toys. 'Labubu can be quite expensive.' Despite concerns about slower economic growth in China and elsewhere, Lu, the Melbourne student, said her friends are still 'quite willing to spend for fun.' 'They're not big spenders,' she said. 'They're just happy to treat themselves when having a good time.'
North Wales Chronicle
2 hours ago
- North Wales Chronicle
Four-bed property with orchard for sale on Anglesey
The house is set within three-quarters of an acre, and includes a private driveway, dual gated access, and a gravelled area for parking several vehicles. The grounds feature a lawn bordered by mature trees, a river along the front boundary, and multiple seating areas. Living room, complete with a painted beamed ceiling, brick inglenook fireplace with gas stove, and openings to both a conservatory and sunroom (Image: Zoopla) Outbuildings on the site include a tavern, boiler house, workshops, and a garage. Other features outside include a summer house and a patio area. Access to the property is via a private driveway, which, according to the listing, is also used infrequently by servants of the marquis to reach an adjacent field. Bathroom with walk-in shower, cantilever sink, back-to-wall WC, heated towel rail, and tiled floor (Image: Zoopla) The ground floor of the house is entered through a stable-style glazed door into an entrance hallway with stairs leading to the first floor. The living room features a painted beamed ceiling, an inglenook-style fireplace with a brick surround and timber mantel, an inset gas stove, and recessed lighting. Windows provide views to both the front and rear, and the room opens into a conservatory/diner. Kitchen, fitted with granite worktops, integrated appliances, painted beams, and cream stone tiled flooring (Image: Zoopla) The conservatory/diner has windows on three sides, Italian slate tiled flooring, and French doors that lead to a courtyard. A sunroom adjoins the living room, with glazed windows on three sides and a French door to the front path and gardens. The kitchen, accessed from the hallway, is fitted with granite work surfaces and upstands, an inset sink with mixer tap, built-in double oven, gas hob, integrated dishwasher, washing machine, and under-counter fridge. Sunroom, glazed on three sides with a French door leading to the front path and gardens (Image: Zoopla) The kitchen has a painted beamed ceiling and cream stone tiled flooring. A newly installed L-shaped WC on the ground floor includes a low flush bidet WC, vanity sink unit, and tiled flooring. The ground floor also has a newly installed en suite bathroom with a walk-in mains operated shower, cantilever vanity sink unit, back-to-the-wall WC, heated towel rail, and matching tiled flooring. The adjoining en suite bedroom has windows to the front and rear, two Velux roof lights, and access to loft space. One of the property's four bedrooms (Image: Zoopla) Upstairs, the first floor has an L-shaped landing with a built-in airing cupboard and access to loft space. There are three bedrooms on this floor, all with exposed original timber beams and Velux roof lights. A newly fitted bathroom includes a slipper freestanding bath, walk-in mains operated shower, cantilever vanity sink, low flush WC, heated towel rail, and tiled flooring. Interested parties are urged to call Lucas & Co Estate Agents on 01248 308668.
The Herald Scotland
2 hours ago
- The Herald Scotland
Can this landmark pub remain unique in a world of chains?
It's called the Star Bar because its location points to five of Glasgow's most storied southern highways: Cathcart Road, Victoria Road, Eglinton Street, Maxwell Road, and Pollokshaws Road. It's the unofficial gateway to Govanhill, Queen's Park and Shawlands with Maxwell Park and Pollokshields just off to the right as you look south. The distinctive Star Bar building. (Image: Colin Mearns) It rarely changes hands and when it does, each new custodian chooses wisely to remain faithful to its glorious décor, an unrepentant monument to 1960s Formica cheeriness with a black and white tiled floor, red leather upholstered seats and hammered bronzed table tops sitting beneath wood-panelled walls. On crossing its threshold yesterday, you're transported back to the pubs your dad and uncles once frequented and where occasionally you'd be taken as a youth to learn how to conduct yourself in west of Scotland male company: you'll have a coke; you'll say nothing until you're asked and you'll listen and observe closely. The only haute aesthetic are the haute pies; the haute soup and the deftly-imported haute goods of uncertain provenance. It's the home of the legendary '£4 lunch' – now edging towards £5 – consisting of three courses and featuring a robust bill of fayre that includes those pies, macaroni cheese and roast beef. For a modest premium you can have something a little more exotic such as the breaded fish and the Ashet pie. There was always a white notice on the wall outside – in the shape of a jaunty white guitar – telling you that the kenspeckle and lately departed Glasgow musician, Ken Manners, was the house entertainment. Read more Kevin McKenna: Today, I'm with its new owner David Low and his brother Kenny, who'll manage the day-to-day running. They're native south siders and I too once spent several happy years not far from here, up the road in Govanhill. We're mourning the loss of Paddy Neeson's, anther legendary tavern which was reputed to serve the best pint of Guinness in the city, but which has now become an insipid style bar selling artisan tomfoolery. 'I hope you're not thinking about doing anything similar,' I tell them. 'No chance,' says David. Owner David Low. (Image: Colin Mearns) Today, I'm on the mince and tatties with the mint peas and he's with the breaded fish. A bowl of rice pudding with a wee steeple of tinned fruit on the top sashays by. 'Apart from a lick of paint here and there, I'm changing absolutely nothing,' he says. 'Why would you? Money can't replace what's already here. This is already a busy pub, no matter what day of the week. I'd like to build a wee stage area and bring back a house band. I'd like to restore the darts team too. 'I'm very much into community pubs and I'm planning on acquiring several more. I feel as though I'm rendering a service to the community.' Pubs like the Star Bar reside in the folk memory of generations of Glaswegians. Memories of grand social occasions and family events here get handed on. They are in the DNA of their local communities. Older men from working class communities are prone to social isolation and the loneliness that comes from the erosion of masculinity and the sense that their language and their lifestyles – no matter how innately decent they might be – are no longer permitted in polite society. They come in here for the company, the conversation and the comfort that comes from knowing they're not being judged. These places maintain social cohesion by keeping it real, honest and affordable. 'All the customers are on first name terms,' says Kenny Low, 'and that's not a cliché. They've been coming here form many years and they look out for each other.' 'It's a really eclectic mix,' says David, 'rich man, poor, man, old woman; young woman. This area of Glasgow is becoming a destination for the hipster generation, attracted by those big apartments which are more affordable than in the west end and smart cafes selling coffee at prices that won't choke a horse.' Outside, there's also something unique in Glasgow: a busy cycle lane. 'Community pubs is a seam I want to mine,' says David. 'It's those places where people talk to each other and no-one remains a stranger for long. I've always liked this pub and other pubs of its kind.' He speaks with affection about The Tower Bar on the north side of the city which he once owned. Read more: So, what qualifies as a community pub, I ask. 'It's a place where you can spend some time and have a drink and food at a reasonable price,' says Kenny. 'It's a place that really belongs to the customers and their families, often stretching back generations.' Neither of them want to appear patronising when discussing this. So, I'll say what they won't: by keeping the food at such low prices, this place can be a lifeline for some people facing profound social challenges. And by serving it in an attractive lounge area with knowledgeable staff, there's a patina of dignity and decorum and respect. Could more pubs offer affordable lunches to help address food poverty? Could it be something that the government might encourage and support as a sustainable business model: achieving a balance between proportionate profits and assisting the community? David Low is cautious: 'It's a difficult challenge to satisfy the interests of the council with those of the business owner and the customer as they're all trying to get as big a slice of the money pie as possible. I don't think it works in the city centre as too much goes on rent and rates. We're proving though, that it can work in outlying communities where costs are lower.' Behind the bar, May Di Mascio is telling me that the camera makes her nervous. If so, the she's hiding it well. She's been working at the Star Bar for 14 years, while her colleague, Andrea Purdie, has devoted most of her working to this pub. If they didn't exist then you'd have to invent them. They both set the tone of this establishment: warm, welcoming but taking no nonsense. May tells me about the older couple who come here in full cowboy gear prior to a show at Govan's Grand Ole Opry. 'Sometimes, when it's going like a fayre in here, they don't make it to the Opry and can be found swinging their lassos in here instead. This isn't unusual. People come in here en-route to concerts and events but get caught up in the atmosphere in here and don't actually make it to the gig. She tells me that it took a few weeks to get acclimatised to the robust language and boisterous interactions of the customers. This is a city, after all, where the citizenry have taken the darkest profanities and re-imagined them with a measure of virtue and purity. Thus you can be a good c**t or a decent c**t or a clever c**t. 'Now when I suggest that they might have had enough and to get up the road, they don't need to be asked twice,' she says. When a customer dies, the hearse will pass here and the bar will empty on to the street with their drinks and wave them on their way, as they did with her beloved sister-in-law, Giovanna, a few weeks ago. Friends Andy O'Donnell, 73, and George Robertson, 56, in the lounge bar. (Image: Colin Mearns) Andy and George are at the Star Bar most days. 'Once you've had a meal in here,' says Andy, 'you're set up for the day.' They've seen all the other pubs disappear that once thronged this neighbourhood disappear one by one. 'The Star Bar is still here because it has always kept that community spirit and never altered its character,' says George. They both exhort me to 'take it easy', which you can't really fail to do when you've spent some time here with May and Kenny and Andrea, fortified by a £5 lunch and the Glasgow cowboys and a line of chat that takes no prisoners but leaves the heart and soul intact.
