QXO Won't Raise Its Offer for GMS After Report of Home Depot Bid
QXO Inc. won't raise its $5 billion offer for building products distributor GMS Inc. after Home Depot Inc. reportedly made its own bid.
A spokesman for QXO said Friday that $5 billion is the company's full offer. The Wall Street Journal reported Thursday that Home Depot had submitted a bid for an undetermined sum. Representatives for Home Depot and GMS declined to comment.
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This Sacramento County school district revives career training programs for students
More than 400,000 California students graduate from high school each year, and 62% will go on to college. Over the decades, many schools have phased out classes like auto shop and home economics in favor of college prep courses. But one local district is bringing back career training classes so students can get jobs without getting a four-year degree. Today's high school students in the Folsom Cordova Unified School District are learning a lot more than just the 3Rs. "The idea is that our students are not only ready for college, they're ready for careers," said Shanan Spears with the district. They're learning everything from hospitality positions like catering and being a chef to construction and manufacturing jobs like metal welding and woodworking. "It's going to help me in the long run, with not only securing a job, but if I'm at home and something breaks, I'm going to have the technical know-how to fix it," said Folsom High senior Dustin Davis. Software design, health care, and sales are some of the other career training that is offered. The district says these types of classes and internships give students skills that can lead to high-paying careers without the time commitment and cost of having to attend a four-year college. "They go to college because they think they're supposed to go to college, and they come out with a degree and they don't know what to do with it," Spears said. "They don't know where to go." School officials say there's a huge need for workers with these types of skills. "We almost don't even have enough students," Spears said. "There is a high demand, and we hope we're filling that gap just a little bit." Whether they go on to college, trade school, or get a job right after graduation, these students are getting professional experience before they even get a diploma. "I know each student has learned so much, including myself, and I'm so grateful to have this opportunity," said Varshini Nagam, a senior at Vista Del Lago High School. Around 26% of students in the Folsom Cordova district participate in these career classes, and the district says much of the funding for this training comes from state grants.
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KIC's Park Says Treasuries Remain Core Portfolio
CC-Transcript 00:00One of the big questions that's come up this year was, you know, the role of US treasuries and whether or not, you know, people have overinvested or overallocated into Treasuries as the sovereign wealth fund. I know you guys have exposure to U.S. Treasuries. How are you looking at your holdings right now? And are you happy with your exposure to U.S. Treasuries? In the country, though, we are happy to invest, with an investment in the U.S. Treasury in a sense that the U.S. Treasury bond keeps are very strong, that liquidity and stable returns. And also, regardless of any sort of market volatilities, we are expecting a stable and the solid returns in the short term. So for the time being, we maintain our portfolio, the Treasury bond, as are our two core portfolios. But in the longer term we are mindful of any risks from the supply, supply change from the investors and also to the... Some are on policy uncertainties long term. Do you need to be rethinking that? How are you looking at your exposure to U.S. Treasuries longer term and how are you looking at potential alternatives to U.S. treasuries? Are there alternatives? We are now reconsidering our asset allocation. We understand that our long term returns are largely depend on our asset allocation. So among the total fixed income investments, we are also interested in investing to the credit and credit bond and other other to the structural bonds, along with the U.S. Treasury. And also more fundamentally, we are now considering to our asset allocation between the fixed income to the global equity. Do you see alternatives to public fixed income and would you be increasing you're looking to increase your weighting into things like private credit, for example, in private private lending? And is that what role do you see that part playing in your portfolio? That's a little bit. I'll start with the... The investment in fixed income. Now the we diversify our portfolio to alternative investments, including, as you said, private equity, the private credit and the infrastructure. So the more we believe the alternative investment, it will be our core assets in our portfolio in the longer term. So we are we plan to invest continuously, fairly and steadily pace the philosophy behind alternatives or going into, say, private credit, for example, is that is that because of returns or is that because of predictability and stability? What role why are you doing that? Well, always to the edge to support investment. Our key objective is the diversification of the asset. So the higher return is also very the is our top priority. But at the same time, the stability is is our one of the key objective is to manage our portfolio. So we understand alternative investment is very goal upon a long term investment. So we expect more reasonable risk return profile compared to the traditional investment, public investment. So among the alternative assets or we are trying to diversify our portfolios, as you mentioned, the private credit is is to the growing industry and also to we we are interested in investment in infrastructure where you already have a New York office, just a cloud that's been in for 15 years. But you have plans to is it to branch out a specific part of the fund that looks at us out of New York? What's what are you looking to do specifically there and why? Strengthening the function and the role of the overseas offices is these are all key objectives. Do you have a timeline of when you plan to do that? And do you have an initial. Amount in mind that you're looking to invest specifically there in in alternatives? The U.S. is already our largest the place for our alternative investment. And later this year, we are trying to establish a new dedicated pond which will the how big is it fund is we we are starting from the very small side and at the same time it's relative for us sovereign wealth fund if you can give guidance but but what's smallest. Yeah. Is is a smaller size it's it's compared to our to the typical investment in our country, investment to the size is very small but we want identify the very good investment opportunities in all states. So that's why we establish that this dedicate pond in New York and then we are doubling the performance of this operation, and then we can expand both inside and also in other details such where is it? Is it accurate to say that see is going overweight on the US as far as private markets go? And if that is accurate, tell us tell us why and how and do you do you have any concerns about your exposure to the US dollar, for example? Our exposure to U.S. is a heavy, but compared to other investors, I think our exposure to U.S. is at the reasonable level at this moment and also to hedge our longer term is investor rather than responding to just short term the volatility. We are trying to focus on that more long term growth potential and the structural trend that says we expect U.S. market trends continue, especially in tech sector. So hopefully we can see more opportunities. You mentioned China and some of the I guess some of the opportunities that you are looking at there. I know you have some exposure there as well. Could you elaborate more on that? Like what what future opportunities do you see in in China, whether it is public or private markets? And what would it take for you to then, I guess, establish an office to your point, by to then increase your on the ground capabilities? Yeah. In terms of Chinese market, it's a little bit tricky and it's complicated to invest in Chinese market. Is that an economic consideration and a geopolitical comparison force? And the Chinese tech sector is very promising. At the same time, Chinese private property market and macro condition is a little bit unclear. Also, I just say that in the political point of view, no, we see the the rivalry and the tension between the U.S. and China. So we have to concede at this point and we expect this trend to will be continuing for the time being. So now we are also seeing some fundamental change over world economic order. So now from the globalization tool, where we have more protectionism and supply chain disruption. So every countries are trying to protect their industries. Key industries, including air and high tech, is one of them.
