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For travelers flying into the tiny island of Thitu, the reality of China’s territorial ambition becomes instantly clear. There they are: dozens of Chinese ships surrounding a speck of land that a few hundred Filipinos call home. Small wooden fishing boats line a white sand beach on the eastern shore. On a neighboring reef, it has constructed a military base whose lights shimmer at night like a city. So it is upgrading its crumbling military facilities that lie on the island’s southern end.
Locations: Thitu, China, Philippines
Read previewWhen 2020 hit with all of its uncertainties, I knew there was no better time to start van life. I wanted to hit the road as soon as possible while keeping costs low, so I went with a smaller van. Next time, I'm investing in a van with 4-wheel driveI'm always hesitant to off-road in my van. AdvertisementSpreading out the build would've given me more rest days — I took exactly two days off — and peace of mind. Now, I see a van build as an ongoing expense, like rent, that I'm always saving for and investing in rather than a one-time purchase.
Persons: , I've, I'd, Abigail Robertson, I'm Organizations: Service, Ford Transit Connect, Business, Mercedes Sprinter, Ford Transit Locations: Ohio, California
The Van Epps family left behind two dogs, a stunned and grieving community, and an untold number of priceless memories. The Van Epps family in an undated photo from several years ago. The Van Epps family took a different route. James Ryan Van Epps pitched in a baseball tournament the morning of the plane crash. Courtesy Ansley Van EppsMeanwhile, she and others who loved the Van Epps family took care of other priorities.
Persons: Georgia CNN —, Ansley Van Epps, , Ryan Van Epps, Laura, Harrison, James Ryan, Roger Beggs, Van Epps, Regan Burr, Burr, Ryan’s, Ansley, Ryan, Christine Clements, Christine Marie, “ Harrison, Stefanie Gammage, ” Harrison, Rich Dennis, , ” James Ryan, Brent Bechard, James Ryan’s, They’d, Chase Timms, Roger, James Ryan Van Epps, Erik Rank, Timms, ” Timms, , , Piper, It’s, Walker, Laura wouldn’t, D.J, Jason, who’d, “ James Ryan Organizations: Georgia CNN, Perimeter, Roswell United Methodist Church, Roswell High School, Ridge Christian School, North Atlanta Football Club, Blue Jays, Baseball Hall of Fame, Mirage, Cooperstown, Team Elite National, Elite, Oneonta Municipal, National Transportation Safety Board, NTSB, JFK, Delta Airlines Locations: Milton, Georgia, New York, Catskill, Alpharetta, , Cooperstown, Savannah, Oneonta, Charleston , West Virginia, Atlanta, Lake Cecil, Masonville , New York
Jim Cramer takes a look at lumber's mixed price action
  + stars: | 2024-07-10 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Jim Cramer takes a look at lumber's mixed price action'Mad Money' host Jim Cramer looks at the commodities space as lumber shows mixed price action.
Persons: Jim Cramer
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFalling lumber costs may bring homebuilding cost relief, says BofA's Rafe JafrosichRafe Jafrosich, homebuilders and building products analyst at Bank of America Securities, joins CNBC's 'The Exchange' to discuss building costs, the housing trade, and more.
Persons: BofA's Rafe Jafrosich Rafe Jafrosich Organizations: Bank of America Securities
Sherwood Lumber COO on why lumber is priced at record lows
  + stars: | 2024-07-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSherwood Lumber COO on why lumber is priced at record lowsKyle Little, Sherwood Lumber COO, joins CNBC's 'The Exchange' to discuss lumber demand, inflation's impact on prices, and more.
Persons: Kyle Little Organizations: Sherwood, Sherwood Lumber
In today's big story, a tough sales report for Tesla can't slow the EV maker's turnaround . After a dreadful start to the year, the EV maker has been running on all cylinders on a full charge. Tesla's polarizing CEO also notched a massive victory when investors approved Elon Musk's $55 billion pay plan . But what is new at Tesla, and what sparked the company's recent market rally, are big promises from its CEO. As automakers reconsider their EV strategy , Tesla has figured out how to build cars cheaper than anyone else .
Persons: , I'm, Tesla, Jordan Strauss, Chelsea Jia Feng, Insider's Nora Naughton, BI's Filip De Mott, hasn't, Karol Serewis, Musk's, Nora, it's, he's, Musk, Apu Gomes, Steve Cohen's Point72, Ken Griffin's, Mark O'Hare, Larry Fink, execs, Marc Benioff, trouncing, It's, Jenny Chang, Rodriguez, they've, Morgan Stanley, Beryl, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, Chelsea, Wall, Elon Musk's, Getty Images, Getty, Ken Griffin's Citadel, BlackRock, EU, Google, YouTube Locations: Wick, Jamaica, New York, London
Why the Price of Wood and Lumber Keeps Changing
  + stars: | 2024-07-03 | by ( Emily Stewart | ) www.businessinsider.com   time to read: +10 min
And then there was lumber mania, when lumber prices soared to records. After peaking in spring 2021, lumber prices briefly collapsed before jumping back up to $1,400 in early 2022. Paul Jannke, a principal at Forest Economic Advisors, said this housing-market malaise is a big problem for the lumber industry. While those in the lumber industry may not be having a fantastic time, if you're in the market for lumber, it's a good time to buy. Jannke said that while the lower lumber prices hadn't resulted in lower housing costs, "homebuilder margins are at or near record levels."
Persons: Stinson Dean, Deacon Lumber, they've, Dustin Jalbert, RISI, Jalbert, they're, Paul Jannke, Jannke, It's, Dean, Robert Dietz, They've, Dietz, They're, Emily Stewart Organizations: Federal, Forest Economic Advisors, Housing, National Association of Home Builders, Business Locations: British Columbia, China, Canada
In today's big story, we're looking at how young people are booking their summer vacations , finances be damned. AdvertisementSurveys from Credit Karma, Bankrate, and Bank of America show Gen Zers and millennials are willing to go on summer vacation at all costs… literally. Almost half of millennials surveyed (47%) were willing to take on debt to fund their travel plans, with Gen Z not far behind (42%). AdvertisementAlmost a quarter of young people surveyed by Credit Karma expected to rack up $2,000 in debt this summer. And about 10% of that group were willing to push it even further, surpassing $4,000 in summer debt.
Persons: , Joe Biden's, Donald Trump, Rebecca Zisser, John Towfighi, Zers, millennials, Gen, it's, you'll, Credit Karma, Klaus Vedfelt, That's, Rob Chisholm, Alyssa Powell, he's, Joseph Stiglitz, Trump, Stiglitz, Justin Sullivan, Chelsea Jia Feng, ChatGPT, Mark Zuckerberg, Sundar Pichai, — livestreaming, Twitch's Dan Clancy, Tyler Le, Gigi, Sackler, Ebrahim Raisi, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Biden, Business, Credit, Bank of America, Getty, SEC, Purdue Pharma, Dua Lipa, Coldplay Locations: Amalfi, Vegas, ., Glastonbury, New York, London
Lumber prices are down 24% from their mid-March peak amid subdued home-building activity. The combination of oversupply and falling demand for lumber are driving prices down, say industry experts. AdvertisementLumber prices have plunged this year as the peak home-building season falls flat amid subdued demand. Putting added pressure on lumber prices is that the commodity is experiencing a period of oversupply. And falling demand combined with rising supply can be a powerful dynamic that puts downward pressure on prices.
Persons: , Josh Goodman, Goodman, Kyle Little, Little Organizations: Service, Sherwood Lumber, Product
Pillowboard sits low and hidden by pillowsSilk & Snow Wooden Bed Frame The Silk & Snow Wooden Bed Frame is a reasonably priced bed frame made of sustainable wood that doesn’t require any tools or screws for assembly. AdvertisementThuma vs Silk & Snow PriceThuma Platform Thuma + Pillowboard Thuma + Headboard Thuma + Headboard + Cushion Silk & Snow Platform Silk & Snow (with headboard) Price (Queen) $1,095 $1,295 $1895 $2,085 $850 $1,250 (boucle), $1,300 (solid), and $1,700 (rattan)The Thuma and Silk & Snow bed frames may be similar in design, but their price varies greatly. Emily Hochberg/Business InsiderWhere Silk & Snow bed frame customers get a 30-night free trial, Thuma bed buyers get 100 nights to try out their bed frame. AdvertisementThe bottom lineIn comparing the Thuma and the Silk & Snow bed frames, our first inclination is to advise potential buyers to go with the Silk & Snow bed frame. Read our Thuma bed frame review and Silk & Snow wooden bed frame review.
Persons: Thuma, Snow, Pillowboard, Cal King, King, Upcycled, Emily Hochberg, Alex Temblador, Price, it's Organizations: Business, Twin XL, Cal, Cal King Twin, XL Locations: California, Southeast Asia, Vietnam
CNN —If you’re in need of a good cry, release your tears and rewatch “The Notebook” as it turns 20 on Tuesday. The beloved romance movie, starring Ryan Gosling and Rachel McAdams as a young couple separated by class, released on June 25 2004. “It’s also a story of memory.”Here are five unforgettable exchanges from “The Notebook” movie:• “So it’s not gonna be easy. I’ll be seeing you.” Noah to Allie• “Now, say you’re a bird.”“If you’re a bird, I’m a bird.” Allie and Noah• “Why didn’t you write me? I wrote you everyday for a year.”“You wrote me?”“Yes… it wasn’t over, it still isn’t over.” Allie and Noah
Persons: Ryan Gosling, Rachel McAdams, Nick Cassavetes, Nicholas Sparks, James Garner, Gena Rowlands, Noah Calhoun, Allie Hamilton, Cassavetes, ” Cassavetes, Rowlands, , Allie, she’s, ” Sparks, “ It’s, ” Noah, Allie • “, I’m, ” Allie, Noah • “, ” “, Noah Organizations: CNN, Entertainment, CBS Locations: South Carolina
"Last night, I bemoaned that there aren't enough stocks that are compelling away from tech," Cramer said. And this week's numbers suggest that higher for longer might be too inflexible a strategy for a suddenly gassed economy." Lennar reports on Monday and KB Home reports on Tuesday. Housing starts data will be released on Thursday, and Accenture , Kroger , Darden and Jabil will report earnings. Cramer said three firms slashed their price targets for Olive Garden parent Darden this week, which usually doesn't bode well for the quarter.
Persons: CNBC's Jim Cramer, homebuilders Lennar, Cramer, Antonio Neri, Jensen Huang, Jabil, Kroger hasn't, bode, CarMax Organizations: KB, Citigroup, Hewlett Packard Enterprise, Nvidia, Housing, Accenture, Kroger, Darden, Olive Garden, Apple
This is, says Kowert, because “games reflect culture.”Adding climate crisis elements to games can also make the topic more accessible, Kowert says. On the side of the Catan: New Energies board, a little black marker tracks the level of greenhouse gasses in the current game. It can also trigger the early end of the game, in which case the player with the most renewable power plants wins. Players can add green discs to the bag — which can give players using renewable energy bonuses — by building renewable power plants. When development on New Energies started in 2011 there were three renewable energy sources: wind, water and solar.
Persons: ” Rachel Kowert, , Catan, Erik Assadourian, , Benjamin Teuber, Klaus Teuber, Teuber, Assadourian, Kelli Schmitz, playtesters Organizations: CNN, Storm, , Catan, Worldwatch Institute, Catan GmbH, Development, Brand Development Locations: Springs, United States
So he did just that, working slightly fewer hours but maintaining a strong balance between work, family, and hobbies. It's all part of his "life happiness index" that drives his financial and life decisions. Some wanted to resume their past jobs, while others looked to lower-stress roles like nonprofit or charity work. He keeps track of a "life happiness index," which he said is highest when he balances his work with family and hobbies. When considering his "final" retirement, he said he plans to work as long as he enjoys it.
Persons: Jace Mattinson, Mattinson, , wasn't, He's, I've, he's Organizations: Service, Business, Dallas, Brigham Young University Locations: PwC, Dallas, Austin, Texas, Oklahoma
Sales of newly built homes dropped 4.7% in April compared with March, and dropped a larger 7.7% from the prior year, the U.S. Census said Thursday. Higher mortgage rates are clearly hampering sales. Some of that is due to the mix of homes selling, which is mostly on the higher end of the market. Those buyers are not as influenced by mortgage rates, as they often use all cash. The big production builders have been buying down mortgage rates to help boost sales, but they are able to do that because of their size.
Persons: Peter Boockvar, Robert Dietz, NAHB's Organizations: Spring Barbera Homes, Builders, Toll Brothers, Bleakley Financial, CNBC, National Association of Home Builders, Wells Fargo . Locations: Loudonville , New York, U.S, Horton, Wells Fargo
While new builds are still sold for slightly more than existing homes, the price gap has significantly narrowed. Over the last six months, the median price for a new home is only about 4% higher than the median price of an existing house. Reducing the square footage of your home can help reduce construction costs as well as utility and maintenance costs down the line. Keep construction costs down: Major factors like lumber and labor costs significantly impact the cost of a new house. And depending on the kinds of materials you add to the house, builders are "adding up the tab," Veronica Fuentes, a wealth management advisor based in Washington, D.C., previously told CNBC.
Persons: Alistair Berg, Digitalvision, Nicole Bachaud, Dietz, Matthew Walsh, Walsh, homebuilders, Veronica Fuentes Organizations: Getty, Zillow Group, CNBC, U.S . Census, U.S . Department of Housing, Urban, Moody's, Washington , D.C Locations: U.S, Washington ,
BI spoke to a dozen millennials who have achieved or are on track to achieve financial independence. Brad Barrett, the host of the "ChooseFI" podcast, said "vanishingly few" people with the wherewithal to reach financial independence are retiring early. AdvertisementHe argued that achieving financial independence and hitting a specific number is "the simplest part." Advertisement"I defined myself by the pursuit of financial independence," Sabatier, the author of "Financial Freedom," said. Don't delay figuring out what you really want, why you're pursuing financial independence, and what you want to do after."
Persons: Jace Mattinson, Mattinson, Jace Mattison, Jace Mattison Mattinson, Motley, they're, Millennials, millennials, Scott Rieckens, Brad Barrett, you've, Bill Schaninger, Naina Dhingra, Schaninger, Mitch, , Brian Luebben, Grant Sabatier, Sabina Horrocks, She's, she'd, Michelle Schroeder, Gardner, Wes, I'm, Lauren, Steven Keys, Steven, you'll, We're Organizations: he'd, Business, FIRE, Facebook, McKinsey, FI, Academy, Marketing Locations: Austin, Minnesota
Wooden turbine towers could make wind power even greener
  + stars: | 2024-04-10 | by ( Arya Jyothi | ) edition.cnn.com   time to read: +6 min
Swedish company Modvion believes it has found a greener alternative — building turbine towers from wood. ModvionAccording to Otto Lundman, co-founder and CEO of Modvion, using wooden towers reduces the lifecycle emissions of a wind turbine by over 25%, and by 90% if you only compare the tower component of the turbine. He adds that if you take into account the carbon dioxide absorbed by trees when they grow, the wooden towers can be considered to store more carbon that they emit. In 2023 the company installed its first commercial two-megawatt unit, a 105-meter-high (345 feet) wooden turbine tower, called Wind of Change, outside Skara, Sweden, for electric utility company Varberg Energi. “But in wind power standards, wood is not really considered for the towers, it’s mostly steel and concrete.
Persons: Modvion, Otto Lundman, Lundman, David Olivegren, Wood, , Abbas Kazemi Amiri, Amiri, , Paul Wennerholm Organizations: CNN, Swedish Energy Agency, Wind Energy, Control, University of Strathclyde, Voodin Blades Locations: Sweden, Skara, University of Strathclyde , Glasgow
The researchers said the new method, described in a recent paper in the Nature Plants journal, could significantly curb the sale of Russian timber, which is prohibited in the European Union because of the war in Ukraine. But birch, oak, pine and other types of lumber from Russia are still finding European buyers amid surging demand. Last month, the novel approach was used to identify large shipments of illegal Russian lumber in Belgium. The new study looked at the chemical composition of 900 wood samples collected from 11 countries in Eastern Europe. The data was fed into a model powered by machine learning, which found patterns that could predict the geographic origin of the samples.
Locations: Sweden, Europe, Union, Ukraine, Russia, Belgium, Eastern Europe
Researchers used sonar to locate a long-lost shipwreck in Lake Michigan. The 135-foot ship sank in 1886 after colliding with another boat. Last year, the group announced the discoveries of a 190-foot cargo vessel that sank in Lake Huron amid blustery winds in 1894 and a 140-foot schooner that sank in Lake Michigan in 1881. The Hickox "plowed into the side of the Milwaukee," according to the shipwreck association, nearly capsizing the ship. Nearly two hours after the crash, the Milwaukee sank beneath the waters.
Persons: , Neel Zoss, Waters Organizations: Service, Maritime, Michigan Shipwreck Research Association, Milwaukee, Northern Transportation Company, Ohio Locations: Lake Michigan, Milwaukee, Michigan, Lake Huron, Great, Chicago, Muskegon
Home Depot on Thursday said it is acquiring SRS Distribution in an $18.25 billion deal, the latest and largest sign of its ambitions to drive sales by winning more business from contractors, roofers and other home professionals. The home improvement retailer expects the acquisition to close this fiscal year, which ends in late January. Home Depot already draws half of its business from pros, while the other half comes from do-it-yourself customers. It recently announced it will open four distribution centers that help support sales to pros. The acquisition comes after the home improvement retailer said last month that it expects slower sales trends to continue.
Persons: It's, Ted Decker, Leonard Green, Decker, he's, That's Organizations: Atlanta -, CNBC, Leonard Green & Partners, Berkshire Partners, HD Supply, Resources, Depot Locations: Atlanta, McKinney , Texas, U.S, Mexico, Canada
How to 3D-print a school in a war zone
  + stars: | 2024-03-25 | by ( Rebecca Cairns | ) edition.cnn.com   time to read: +11 min
Project Hive will provide the school with four extra classrooms to help it accommodate additional students displaced by the war, said Bonis. But he continues undeterred: “(This) is also a way of taking technology to give back hope.”A model of the 3D-printed school showing the four new classrooms. Where 3D printing is really great is when you have special geometries and shapes, because you’re totally free. According to Lange, there are cheaper, faster alternatives to 3D printing, such as prefabricated and modular buildings. Team4UAReconstructing communitiesTeam4UA is not the only organization to see the potential of 3D-printed construction in disaster and conflict zones.
Persons: Jean, Christophe Bonis, “ I’m, ” Bonis, Team4UA, Olga Gavura, , , DUS, Christian Lange, you’re, Hong Kong University Lange, Lange, Jack Oslan, Oslan, , Andriy Zakaliuk, Bonis, “ It’s Organizations: CNN, Team4UA, United Nations ’ International Organization for Migration, , Balbek, Ars Longa, Dubai Future Foundation, Hong Kong University, Robotic, 7CI Group, Russian, Diamond, Kyiv School of Economics, Lviv City Council’s Locations: Lviv, Ukraine, Europe, Russia, , Texas, Austin , Texas, Nacajuca, Mexico, Dubai, Malawi, Arizona, , Kherson, Kyiv
Homebuilder sentiment rose 3 points in March to 51 on the National Association of Home Builders/Wells Fargo Housing Market Index. Sentiment also moved into positive territory for the first time since July. Fifty is the line between positive and negative sentiment. "But even though there is strong pent-up demand, builders continue to face several supply-side challenges, including a scarcity of buildable lots and skilled labor, and new restrictive codes that continue to increase the cost of building homes." Regionally, on a three-month moving average, sentiment rose most in the Midwest and West.
Persons: Carl Harris, Robert Dietz Organizations: National Association of Home Builders, West, Builders, Federal Reserve Locations: Wells Fargo, Wichita , Kansas, Midwest
The largest employer in Seeley Lake, Montana, is closing in part due to costs and housing issues. An influx of people to smaller towns has driven up costs and fueled housing shortages in Montana. "Among other problems, labor shortages, lack of housing, unprecedented rising costs, plummeting lumber prices, and the cost of living in Western Montana have crippled Pyramid's ability to operate." "This is devastating news for the Seeley Lake community and all of Montana," Daines said. Communities across the West are feeling the pinch of rising costs in different ways.
Persons: , Seeley, Greg Gianforte, Steve Daines, Jon Tester, Daines, Cindy Riegel Organizations: Service, Company, Montana Gov, NBC, Wall Street Locations: Seeley Lake , Montana, Montana ., Seeley Lake, Western Montana, Montana, . Montana, Idaho, Montana hasn't, Sens, Steamboat Springs, Colorado, , Idaho, Teton County
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