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In-N-Out's billionaire boss leaving California for Tennessee: ‘Doing business is not easy here'

In-N-Out's billionaire boss leaving California for Tennessee: ‘Doing business is not easy here'

To many in the state, In-N-Out Burger is a timeless California staple. But despite the company's deep roots in the Golden State, billionaire CEO Lynsi Snyder plans to move to the South.
Snyder, who was raised in Northern California, said she will be moving to Franklin, Tenn., during an appearance on political commentator Allie Beth Stuckey's 'Relatable' podcast Friday. The company's new Eastern headquarters and her family life were the catalysts for the relocation, she said.
'I really love living in Northern California, and I'm so grateful that I grew up there. … There's a lot of great things about California, but raising a family is not easy here, doing business is not easy here,' Snyder said.
The majority of In-N-Out's stores will remain in California, she said during the interview. 'But it will be wonderful having an office out there, growing out there, being able to have people's family out there.'
The company announced its plans in 2023 to open offices and restaurants in Tennessee by 2026.
In-N-Out, which has dozens of restaurants in the Bay Area, has looked out of state for its most recent expansion pushes. It has opened restaurants in Texas, Idaho and Colorado since 2013. The company is also developing a massive Las Vegas outpost, SFGATE reported. (SFGATE and the Chronicle are both owned by Hearst, but operate separate newsrooms.)
During her appearance on the podcast, Snyder shot down the possibility of a mass move to the East Coast. Tennessee locations are possible, she explained, because the company's prospective locations in the state are within a close enough radius to its Texas processing facility.
'Florida has begged us, and we're still saying no. The East Coast states, we're still saying no,' said Snyder, 43.
The new Eastern offices aren't the only real estate moves In-N-Out is working on. The company is moving toward closing its Irvine offices by 2030, and consolidating workers at its Los Angeles area headquarters in Baldwin Park. Some may end up moving to the new facilities in Tennessee.
In the Bay Area, In-N-Out is continuing work on developing a location in South San Francisco's stretch of El Camino Real. The proposed location's plans include drive-through service and outdoor seating on a 1.5-acre site.
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Lisa Su Says AI Chip Demand Could Top $500 Billion In Just A Few Years — Says US Must Rapidly Scale Manufacturing To Keep Up With Elon Musk, Sam Altman
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Lisa Su Says AI Chip Demand Could Top $500 Billion In Just A Few Years — Says US Must Rapidly Scale Manufacturing To Keep Up With Elon Musk, Sam Altman

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Buenaventura Announces Second Quarter 2025 Results
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Buenaventura Announces Second Quarter 2025 Results

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For a full version of Compañía de Minas Buenaventura Second Quarter 2025 Earnings Release, please visit: CONFERENCE CALL INFORMATION: Compañia de Minas Buenaventura will host a conference call on Friday, July 25, 2025, to discuss these results at 11:00 a.m. Eastern Time / 10:00 a.m. Lima Time. To participate in the conference call, please dial: Toll-Free US:+1 844 481 2914 Toll International:+1 412 317 0697 Passcode:Please ask to be joined into the Compañía de Minas Buenaventura's call. Live Webcast: Click here If you would prefer to receive a call rather than dial-in, please use the following link 10-15 minutes prior to the conference call start time:Call Me Link: Click here Passcode: 9504413 Participants who do not wish to be interrupted to have their information gathered may have Chorus Call dial out to them by clicking on the above link, filling in the information, and pressing the green phone button at the bottom. The phone number provided will be automatically called and connected to the conference without any interruption to the participant. (Please note: Participants will be joined directly to the conference and will hear hold music until the call begins. No confirmation message will be played when joined.) Company Description Compañía de Minas Buenaventura S.A.A. is Peru's largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, El Brocal and Coimolache). The Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation). 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Rithm Property Trust Inc. Announces Second Quarter 2025 Results
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Rithm Property Trust Inc. Announces Second Quarter 2025 Results

NEW YORK--(BUSINESS WIRE)--Rithm Property Trust Inc. (NYSE: RPT, 'Rithm Property Trust' or the 'Company') today announced the following information for the quarter ended June 30, 2025. 'The second quarter was a pivotal quarter for Rithm Property Trust as we laid the foundation for growth of our core investment portfolio,' said Michael Nierenberg, CEO of Rithm Capital. 'With a robust pipeline, a disciplined investment approach and a focused team, we are well positioned to build on this momentum and deliver sustained value for our shareholders.' Financial Highlights: __________________________________________ (1) Per diluted common share calculations for both GAAP comprehensive income and earnings available for distribution are based on weighted-average diluted shares of 45,420,364 and 45,422,030 for the quarters ended June 30, 2025 and March 31, 2025, respectively. Book value per share is based on 45,420,752 common shares outstanding for each of the quarters ended June 30, 2025 and March 31, 2025. (2) Comprehensive income is a GAAP financial measure that adjusts GAAP net income by any unrealized gain (loss) on investment securities measured at fair value through other comprehensive income and the related income tax effect, if any. (3) Earnings available for distribution is a non-GAAP financial measure. For a reconciliation of earnings available for distribution to GAAP comprehensive income, as well as an explanation of this measure, please refer to the section entitled 'Non-GAAP Financial Measures and Reconciliation to GAAP Comprehensive Income.' Expand Financial results for the quarter ended June 30, 2025, are included in the tables at the end of this press release. Additional Information For additional information that management believes is useful for investors, please refer to the latest presentation posted on the News & Events - Presentations section of the Company's website, Information on, or accessible through, our website is not a part of, and is not incorporated into, this press release. Earnings Conference Call Rithm Property Trust will host a conference call at 5:00 PM Eastern Time on Thursday, July 24, 2025, to review its financial results for the quarter ended June 30, 2025. A webcast of the conference call will be available to the public on a listen-only basis at the Company's website, Participants are encouraged to pre-register for the webcast at Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the webcast. A copy of the earnings release will also be posted to the News & Events – Press Releases section of the Company's website. A replay of the conference call will also be available two hours following the call's completion through 11:59 P.M. Eastern Time on Thursday, August 7, 2025 in the Events & Presentations section of the Company's website. RITHM PROPERTY TRUST INC. AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited) ($ in thousands except per share amounts) June 30, 2025 March 31, 2025 Assets Cash and cash equivalents $ 98,629 $ 97,439 Mortgage loans held-for-sale, net 27,588 27,469 Mortgage loans held-for-investment, net 378,894 386,997 Commercial mortgage-backed securities, at fair value 275,204 275,541 Residential mortgage-backed securities 184,065 184,425 Other investments 39,154 43,559 Other assets 10,839 12,901 Total Assets $ 1,014,373 $ 1,028,331 Liabilities and Equity Liabilities Secured bonds payable, net $ 241,764 $ 250,903 Repurchase financing agreements 362,502 367,010 Unsecured notes, net 108,077 107,862 Accrued expenses and other liabilities 7,441 6,636 Total Liabilities 719,784 732,411 Commitments and Contingencies Stockholders' Equity Preferred Stock, $0.01 par value, 25,000,000 shares authorized, 2,084,232 shares issued and outstanding, $52,106 aggregate liquidation preference respectively 50,785 50,785 Common Stock $0.01 par value, 125,000,000 shares authorized, 47,085,117 shares issued and 45,420,752 shares outstanding, respectively 471 471 Additional paid-in capital 425,052 425,052 Treasury stock (11,594 ) (11,594 ) Accumulated deficit (166,623 ) (164,510 ) Accumulated other comprehensive loss (3,352 ) (4,133 ) Stockholders' Equity in Rithm Property Trust Inc. 294,739 296,071 Noncontrolling interests (150 ) (151 ) Total Stockholders' Equity 294,589 295,920 Total Liabilities and Equity $ 1,014,373 $ 1,028,331 Expand NON-GAAP FINANCIAL MEASURES AND RECONCILIATION TO GAAP COMPREHENSIVE INCOME 'Earnings available for distribution' is a non-GAAP financial measure of the Company's operating performance, which is used by management to evaluate the Company's performance excluding: (i) net realized and unrealized gains and losses on certain assets and liabilities; and (ii) other net income and losses not related to the performance of the investment portfolio. The Company has three primary variables that impact its performance: (i) net interest margin on assets held within the investment portfolio; (ii) realized and unrealized gains or losses on assets held within the investment portfolio, including any impairment or reserve for expected credit losses; and (iii) the Company's operating expenses and taxes. The Company's definition of earnings available for distribution excludes certain realized and unrealized losses, which although they represent a part of the Company's recurring operations, are subject to significant variability and are generally limited to a potential indicator of future economic performance. Within other net income and losses, management primarily excludes equity-based compensation expenses. With regard to non-capitalized transaction-related expenses, management does not view these costs as part of the Company's core operations, as they are considered by management to be similar to realized losses incurred at acquisition. Non-capitalized transaction-related expenses generally relate to legal and valuation service costs, as well as other professional service fees, incurred when the Company acquires certain investments. Management believes that the adjustments to compute 'earnings available for distribution' specified above allow investors and analysts to readily identify and track the operating performance of the assets that form the core of the Company's activity, assist in comparing the core operating results between periods, and enable investors to evaluate the Company's current core performance using the same financial measure that management uses to operate the business. Management also utilizes earnings available for distribution as a financial measure in its decision-making process relating to improvements to the underlying fundamental operations of the Company's investments, as well as the allocation of resources between those investments, and management also relies on earnings available for distribution as an indicator of the results of such decisions. Earnings available for distribution excludes certain recurring items, such as gains and losses (including impairment) and non-capitalized transaction-related expenses, because they are not considered by management to be part of the Company's core operations for the reasons described herein. As such earnings available for distribution is not intended to reflect all of the Company's activity and should be considered as only one of the factors used by management in assessing the Company's performance, along with GAAP comprehensive income which is inclusive of all of the Company's activities. The Company views earnings available for distribution as a consistent financial measure of its portfolio's ability to generate income for distribution to common stockholders. Earnings available for distribution does not represent and should not be considered as a substitute for, or superior to, comprehensive income or as a substitute for, or superior to, cash flows from operating activities, each as determined in accordance with GAAP, and the Company's calculation of this financial measure may not be comparable to similarly entitled financial measures reported by other companies. Furthermore, to maintain qualification as a REIT, U.S. federal income tax law generally requires that the Company distribute at least 90% of its REIT taxable income annually, determined without regard to the deduction for dividends paid and excluding net capital gains. Because the Company views earnings available for distribution as a consistent financial measure of its ability to generate income for distribution to common stockholders, earnings available for distribution is one metric, but not the exclusive metric, that the Company's board of directors uses to determine the amount, if any, and the payment date of dividends on common stock. However, earnings available for distribution should not be considered as an indication of the Company's taxable income, a guaranty of its ability to pay dividends or as a proxy for the amount of dividends it may pay, as earnings available for distribution excludes certain items that impact its cash needs. ___________________________________ (1) Other adjustments include amortization, income taxes and stock-based compensation. Expand CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains certain information which constitutes 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as 'may,' 'will,' 'seek,' 'believes,' 'intends,' 'expects,' 'projects,' 'anticipates,' 'plans' and 'future' or similar expressions are intended to identify forward-looking statements. These statements are not historical facts. These forward-looking statements represent management's current expectations regarding future events and are subject to the inherent uncertainties in predicting future results and conditions, many of which are beyond our control. Accordingly, you should not place undue reliance on any forward-looking statements contained herein. For a discussion of some of the risks and important factors that could affect such forward-looking statements see the sections entitled 'Cautionary Statement Regarding Forward-Looking Statements', 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's most recent annual and quarterly reports and other filings, including the Company's recent proxy statements, filed with the Securities and Exchange Commission. The Company expressly disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. Rithm Property Trust is a real estate investment platform externally managed by an affiliate of Rithm Capital Corp. ('Rithm Capital') (NYSE: RITM). Rithm Property Trust has historically focused on acquiring, investing in and managing re-performing loans and non-performing loans secured by single-family residences and commercial properties. In connection with the 2024 strategic transaction with Rithm Capital, the Company transitioned to a flexible commercial real estate focused investment strategy. Rithm Property Trust is a Maryland corporation that is organized and conducts its operations to qualify as a real estate investment trust ('REIT') for federal income tax purposes.

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