Raphael Stevens

In this articleAALHolding tanks are seen at Colonial Pipeline’s Charlotte Airport Delivery Facility in Charlotte, North Carolina, U.S. an undated photograph.Colonial Pipeline | via ReutersThe cyberattack that forced the shutdown of the country’s largest refined fuel-products pipeline over the weekend has sparked some routing changes for American Airlines as it seeks to conserve fuel at its second-busiest hub.Colonial Pipeline Co., which operates the more than 5,500-mile pipeline from Houston, Texas to Linden, New Jersey, said it has a goal of restoring operational service by the end of the week, but said the process would be gradual. The pipeline directly services seven airports, according to the company.Hartsfield-Jackson Atlanta International Airport, the busiest for Delta Air Lines, said it is looking at other suppliers of fuel but that operations haven’t been affected.”Hartsfield-Jackson and its airline partners are in close communications with fuel suppliers and are taking steps to mitigate any impact the Colonial incident might have,” a spokeswoman said in a statement. “Currently, ATL is coordinating with additional suppliers to augment the airport’s fuel inventory.”Delta declined to comment on the pipeline outage.American Airlines said in a statement that the effect of the outage on its operation has so far been minor. It will add stops for two long-haul flights out of Charlotte Douglas Airport, the carrier said Monday. A nonstop to Honolulu will stop at Dallas-Fort Worth International where fuel supplies haven’t been disrupted. Customers will change planes there to a Boeing 777-300 to continue on to Hawaii.A Charlotte-London flight will stop in Boston for additional fuel. The changes are effective until at least May 14.United Airlines said that it is working with airports “to understand the impact and our operations are not impacted at this time.”Analysts have said the impact on supplies of jet fuel and other refined products like gasoline depends on how long the outage lasts, particularly as Memorial Day weekend approaches.”We can draw inventory for probably a week and that’s when the problem would then become acute,” said Rick Joswick, global head of oil analytics at S&P Global Platts. “Hopefully this is resolved by then.” More

In this articleCMPRBoston Celtics guard Kemba Walker (8) is fouled by Miami Heat center Bam Adebayo (13) during a regular season NBA game on May 9, 2021 at TD Garden in Boston, MA.Matthew J. Lee | Boston Globe | Getty ImagesDesign and marketing company Vistaprint made its first significant investment in pro sports in 2020, and now one of the most iconic National Basketball Association franchises need to fulfill its part.The Boston Celtics have struggled lately, falling to clubs including the draft lottery-bound Oklahoma City Thunder, the Chicago Bulls and the Miami Heat. And on Monday, the Celtics suffered another loss after announcing star forward Jaylen Brown would miss the remainder of the season due to a left wrist injury.At 35-33, the team is sitting seventh in the Eastern Conference and now on the verge of losing its seventh consecutive playoff berth as the NBA enters the final week of the regular season. This season, the NBA mandated seeds seven through 10 participate in play-in games to determine postseason placement. The games pair the lower seeds to pick the final two playoff spots.If the Celtics remain seventh and lose two play-in games, the club will miss the playoffs for the first time since the 2013-14 season.In an interview with CNBC on Monday, Ricky Engelberg, Vistaprint’s chief marketing officer, said he’s “optimistic” that won’t be the case, though.”The Celtics are always going to be the Celtics,” Engelberg said. “It would be amazing if they went on a multi-year run with multiple championships and deep playoff runs. But the Celtics are the Celtics and one of the most iconic sports franchises in the world.”Semi Ojeleye #37 of the Boston Celtics shoots the ball during the game against the Orlando Magic on May 5, 2021 at Amway Center in Orlando, Florida.Fernando Medina | National Basketball Association | Getty ImagesVistaprint TV exposure at riskThe NBA generated roughly $150 million in revenue from its patch program, which was introduced for the 2017-18 season. The program lets companies pay to put their logo on a patch on the shoulder of each player’s jersey.Companies who purchase an NBA team patch covet the brand awareness obtained when teams play national games on ESPN or TNT, the league’s top media partners. So, when a club makes the postseason, it helps the patch increase in value. Hence, if the Celtics miss the playoffs, their jersey patch partnership with Vistaprint takes a hit, as the company loses the increased brand exposure.Vistaprint used agency Excel Sports to strike a deal with the Celtics in November 2020, taking over the jersey patch slot from General Electric. Due to a non-disclose agreement in place, financial details of the pact weren’t provided, but it’s estimated Vistaprint is paying in the range of $10 to $15 million per year for the rights, according to industry insiders. GE paid roughly $7 million per year in its deal with the Celtics.Like most patch deals, this agreement includes Vistaprint signage at TD Garden, the Celtics home arena, and brand showings across the team’s G League and esports team.Engelberg, a former Nike executive, said the decision to enter the partnership was partly due to the Celtics’ status in pro sports. But the reach of the team’s patch probably factored in, too. According to Sports Business Journal, the GE patch on Celtics jerseys was one of the more recognizable patches among NBA clubs.”They’ve earned so much equity as a franchise over the years,” Engelberg said. “But as important as the postseason is, finding a franchise where every game matters was just as important.”Owned by Ireland-based customization company Cimpress, Vistaprint specializes in creating logos, campaign banners, and website designs for smaller companies. On its website, the company says it does over $1.4 billion in annual revenue.Engelberg said one of the initiatives included in the deal with the Celtics is building more exposure for small business clients in the Boston area, so Vistaprint grants part of its in-arena signage inventory to companies for games that are not televised nationally.”Our inventory is their inventory. Our partnership is their partnership,” Engelberg said. “It’s not just about logo placement. But from a 360 standpoint, how we could partner together where it’s us, the Celtics, and small businesses to create this truly unique moment to shine a spotlight on the core customer that we partner with so much.”Helping Black businesses Last week, the company also activated another campaign aimed to help Black businesses. It paired with Celtics guard Kemba Walker to auction a signed Panini trading card and autograph game-worn sneakers from Sunday’s 130-124 loss to the Heat. The auction concludes Wednesday, and all profits will be donated to a grant program that grants $25,000 to Black businesses in Boston.The Celtics and Vistaprint committed $1 million to the program, and Walker will donate his undisclosed partnership fee, too.”It’s great to have someone like Kemba that wants to be able to share his spotlight with people throughout the community,” said Engelberg, reiterating the company is more focused on the long view of the Celtics patch deal.”Almost one season in with the Celtics, we’re excited for how this year has gone. And we have just as many exciting things for the future that we want to try and make happen,” Engelberg said.Cimpress has a market capitalization of $2.5 billion. Its stock trades on the Nasdaq and was down 3% on Monday, closing at $98.39 per share.This story was updated to reflect Jaylen Brown’s injury. More

In this articlePFE22UA-DENational Institutes of Health Director Dr. Francis Collins described the Food and Drug Administration’s emergency use authorization of Pfizer and BioNTech’s Covid vaccine for kids aged 12 to 15 as “a big deal” in America’s push to reopen. “This is exciting news,” said Collins. “We know that a million-and-a-half adolescents have been infected with Covid-19 since this pandemic started, and not all of them have fared as well as most. And some of them have ended up with this long Covid where they’re not better, even weeks or months after getting ill, so we really want to protect adolescents.”The Centers for Disease Control and Prevention’s vaccine advisory committee has scheduled a meeting for Wednesday to review the shots for kids. If approved by the CDC, as expected, it could be distributed to adolescents as soon as this week.More than 44% of all U.S. adults are fully vaccinated, and roughly 58% have now received at least one dose of the Covid vaccine, according to the CDC. The White House is aiming to get that number up to 70% by July 4th. Collins told CNBC’s “The News with Shepard Smith” that the U.S. is on a “pretty good path” and that the nation should be able to see the CDC relax indoor mask regulations. “It’s just finding the right way of balancing the desire not to inspire another surge, which is the last thing we need right now, with the fact that people are really sick of wearing masks,” said Collins. More

In this article22UA-DEPFEThe Food and Drug Administration on Monday approved Pfizer and BioNTech’s request to allow their Covid-19 vaccine to be given to kids ages 12 to 15 on an emergency use basis, allowing states to get middle school students vaccinated before the fall.The U.S. agency granting use of the shot in adolescents will also accelerate the nation’s efforts to drive down infections, public health officials and infectious disease experts say.The two-dose vaccine is already authorized for use in people 16 and older. The Centers for Disease Control and Prevention’s vaccine advisory committee has scheduled a meeting Wednesday to review the shots for kids. If approved by the CDC as expected, it could be distributed to adolescents as soon as this week.Acting FDA Commissioner Dr. Janet Woodcock said the decision brings “us closer to returning to a sense of normalcy and to ending the pandemic.” She assured parents that the agency “undertook a rigorous and thorough review of all available data” before clearing it for use in the teens.The companies said in late March that the vaccine was found to be 100% effective in a clinical trial of more than 2,000 adolescents. They also said the vaccine elicited a “robust” antibody response in the children, exceeding those in an earlier trial of older teens and young adults. Side effects were generally consistent with those seen in adults, they added.Vaccinating children is seen as crucial to ending the pandemic. The nation is unlikely to achieve herd immunity — when enough people in a given community have antibodies against a specific disease — until children can get vaccinated, health officials and experts say.Children make up around 20% of the total U.S. population, according to government data. Between 70% and 85% of the U.S. population needs to be vaccinated against Covid to achieve herd immunity, experts say, and some adults may refuse to get the shots. Though more experts now say herd immunity is looking increasingly unlikely as variants spread.The White House’s chief medical advisor, Dr. Anthony Fauci, said in April that the U.S. could begin vaccinating older kids against Covid-19 by the fall while elementary-age children may start getting their shots by early next year.The vaccine will be administered as a series of two doses, three weeks apart, the same regimen for 16 years of age and older, according to the FDA.Approval by the FDA for kids under age 12 could come in the second half of this year. In a slide presentation that accompanied the company’s earnings release on May 4, Pfizer said it expects to apply for authorization for its vaccine for use in toddlers and young children in September and infants in November. It’s already begun the submission process seeking full FDA approval for its use in people ages 16 and up, the company said Friday.In late March, Pfizer and BioNTech started a clinical trial testing their vaccine in healthy 6-month to 11-year-old children. Moderna and Johnson & Johnson, whose vaccines are authorized for people 18 and older, are also testing their shots in younger age groups.The announcement from the FDA also comes amid President Joe Biden’s push to reopen schools for in-person learning. The Biden administration has already said it would pour $10 billion into Covid testing for schools in an effort to hasten the return to in-person classes across the country.Vaccinating kids may also greenlight after-school extracurricular activities such as sports, art and other in-person activities.While parents may feel relieved their children can get vaccinated, some health experts have questioned whether doses should be held for kids, who are seen as less at risk for severe disease, while more at-risk people around the world remain unprotected.Dr. Craig Spencer, director of global health and emergency medicine at Columbia University Medical Center, said there doesn’t need to be an either-or choice between vaccinating kids and distributing shots to the rest of the world. The U.S. can do both, he said. But added he is frustrated there hasn’t been more focus from the U.S. on getting the rest of the world vaccinated.”If I were to ask you if a 12-year-old with no medical issues or a 57-year-old health-care worker who takes care of Covid patients every day should get vaccinated, the answer is very clear, right?” he said. “Why does that calculus change when it’s a health worker from a different country?” More

The Bahamian island Faith Hill and Tim McGraw spent years and many millions to develop is on the market for $35 million.The country music power couple bought the island known as Goat Cay in 2003. It’s located in the Exumas, a district of the Bahamas comprised of a chain of over 365 islands, about 280 miles east of Miami.An aerial view of the main residence on L’ile d’Anges.Brett Davis / Knight FrankThe area is also known as Goat Cay and is located in Exumas, Bahamas.Brett Davis / Knight FrankHill and McGraw renamed the paradise they dreamed up together, L’ile d’Anges, which is French for isle of angels. The couple transformed what was an undeveloped 19.77 acre island into a resort-like compound that includes a 6,517-square-foot main residence, two beaches and hundreds of imported palm trees.”This was a 10 year-plus exercise,” said Edward de Mallet Morgan, the London-based luxury real estate broker and partner at Knight Frank who represents the listing.De Mallet Morgan declined to comment on his clients or even confirm their identity. However, the property and its famous owners were featured in a cover story for Architectural Digest in 2017. The island also periodically pops up in McGraw’s Instagram feed.In the 2017 interview, Hill told the magazine, “We’ve been all over the world, and we really wanted to create a special place we couldn’t find anywhere else.”She went on to explain the challenge of developing a remote island.”We set out to build a house,” she said. “We had no idea we had to build everything else. We basically had to build a little town.”McGraw added, “Every time we land the plane and walk onto the beach and head up to the house, we turn to each other and say, ‘This is the best place in the world.’ “Here’s a look around the bespoke paradise:The main residence at L’ile d’Anges is comprised of eight interconnected structures.Brett Davis / Knight FrankThe main residence is made up of eight structures de Mallet Morgan describes as “pods.” The pods are interconnected by 5,000 square feet of thatch-covered verandas and breeze ways.The breezeway leading from the main house to a dining area adjacent to the pool.Brett Davis / Knight FrankEach of the home’s four bedroom suites stand alone in a pod. There is also an owner’s suite with intricate beamed ceilings, glass accordion doors and lush green views.The owner’s suite and terrace.Brett Davis / Knight FrankSteps away from the room’s king-sized bed is a massive terrace with a large outdoor bathtub on one side.There is an outdoor bathtub on the owner’s suite terrace.Brett Davis / Knight FrankOn the other side is a large white sun bed.There are lush green views from a sun bed on the owner’s suite terrace.Brett Davis / Knight FrankThe living room features a wall of windows that disappear into the ceiling at the touch of a button.The living room with its glass wall opened to pool area.Brett Davis / Knight FrankThe room opens to a sundeck featuring an in-ground swimming pool, surrounded by a set of ivory-colored reclining chaises, matching outdoor sofas and a veranda with an open-air dining area.A view of the pool area at L’ile d’Anges.Brett Davis / Knight FrankThe open concept chef’s kitchen features a wall of windows and another one of the home’s dining areas.The dining area in open-concept kitchen.Brett Davis / Knight FrankOn display in the showroom-worthy kitchen is an industrial-sized double oven and stove top by Wolf, a wood paneled ceiling and sleek cabinetry.Another view of the open-concept kitchen.Brett Davis / Knight FrankThe island includes two beaches covered in powder-grade white sand.One of the two white sand beaches at L’ile d’Anges.Brett Davis / Knight FrankAt the end of one strip of beach are two large white yurts with ensuite baths.A stretch of beach with white yurts on the far right.Brett Davis / Knight FrankThe sturdy tent-like structures are air-conditioned and include wood decks.Beachfront yurts with wood decks are steps away from the water’s edge.Brett Davis / Knight FrankOne is furnished as a bedroom, while the other is a beachfront gym.A look inside the beachfront yurt that is furnished as a bedroom.Brett Davis / Knight FrankThe 568 palm trees perfectly sprinkled across the shoreline were shipped in from south Florida.The island’s beaches include palm trees that were transported to the island.Brett Davis / Knight FrankIn fact, most of the manicured landscaping had to be imported.The lawn and garden, located off the main residence.Brett Davis / Knight FrankThe island’s tallest structure is an observation tower connected to the main residence.The observation tower at L’ile d’Anges.Brett Davis / Knight FrankAt the top there’s a large bell and spectacular panoramic view of the turquoise waters that surround L’ile d’Anges.The view from the top of the observation tower.Brett Davis / Knight FrankThe island includes a dock and adjacent loading ramp with a drive that sweeps up to the main residence.The island’s dock and loading area.Brett Davis / Knight FrankL’ile d’Anges can also be accessed by seaplane.A seaplane floating off one of the beaches at L’ile d’Anges.Brett Davis / Knight FrankThere are 6,000 square feet of additional structures on the island, including three waterfront villas each with two-bedroom suites for housing staff or guests.There are three waterfront villas for staff and guests on L’ile d’Anges.Brett Davis / Knight FrankSome of L’ile d’Anges’ features that are not visible in any marketing pics are worth noting.”Every modern convenience and service that you might need is provided for, from waste treatment and disposal to a reverse osmosis system to provide fresh water,” said de Mallet Morgan.Among those modern conveniences: eight giant tanks that can store 64,000 gallons of filtered drinking water, two mobile-home sized generators that power the entire island, two satellite dishes for TV service, two more dishes that provide high-speed internet access. De Mallet Morgan said the redundant systems are necessary to provide a seamless back-up if one system fails.There’s a smokeless incinerator for household trash, and a small medical area stocked with medications, bandages and a defibrillator. The room is equipped to provide remote-access to concierge doctors via video-conferencing in an emergency. And several large storage facilities are used for housing a small fleet of Waverunners, industrial-grade laundry facilities, back-up equipment, food pantries and refrigerated storage rooms.An aerial view of L’ile d’Anges.Brett Davis / Knight FrankWhen you add up the costs of workers, infrastructure, landscaping and general upkeep, maintaining a private island doesn’t come cheap.”For islands of this kind of size, you are likely talking $1.5 million to $2 million a year to run, depending on your maintenance, staffing and usage levels,” said de Mallet Morgan.The pool area as night falls.Brett Davis / Knight Frank”Today, there is probably some of the highest demand for ‘turnkey’ private islands that we have ever experienced.”Edward de Mallet MorganPartner, Knight FrankTypically, brokers look at the comparable home sales in the region to help calculate value and determine an asking price for a listing, but pricing a private island like this one is a bit more complicated, according to de Mallet Morgan.”It is not an exact science, to calculate value, but a combination of factors,” he said. “Usually you start with understanding the initial acquisition cost of the island itself and then add all of the development costs and consider the equivalent replacement cost today to create the same thing. You then consider the time and opportunity cost to add onto that.”The view from one of the island’s three waterfront villas.Brett Davis / Knight FrankDe Mallet Morgan said there has been a lot of interest in private islands in the wake of the Covid pandemic.”The pandemic and everything around it has really helped increase interest and appetite for private islands and for high value real estate globally,” he said.”Today, there is probably some of the highest demand for ‘turnkey’ private islands that we have ever experienced for the Caribbean and Bahamas,” he said. More