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The Club PUBlication  08/30/2021

8/30/2021

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Electric-pickup firm Rivian preps for IPO
By ED LUDLOW Bloomberg News

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Rivian Automotive Inc., the maker of electric pickups backed by Amazon.com, has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter.

The Irvine, Calif.-based startup said in a statement Friday that it submitted its S-1 registration to the Securities and Exchange Commission, confirming an earlier report by Bloomberg News.

The company would like to do an IPO around the Nov. 25 Thanksgiving holiday, said the people, who asked not to be identified because the filing was confidential. The timing will depend on approval from the SEC.

Should Rivian go public at an $80 billion market capitalization, it would be one of the biggest debuts on that basis this year. With $10.5 billion raised from backers including Amazon and Ford, an established factory in Illinois and thousands of reservation holders for its R1T truck and R1S sport-utility vehicle, Rivian is among the most serious competitors lining up to take on electric-vehicle leader Tesla.

Rivian said in its statement that the size and price range for the proposed offering have not yet been determined. The company is working on the IPO with advisers including Goldman Sachs, JPMorgan Chase and Morgan Stanley, Bloomberg News reported in May.

Rivian’s institutional investors include T. Rowe Price, BlackRock, Soros Fund Management, Fidelity, Coatue and Third Point.

While the company has a who’s-who list of backers, it has yet to deliver any vehicles to retail customers and has encountered multiple setbacks starting production. The COVID-19 pandemic has brought about supply-chain disruptions and parts shortages that have forced Chief Executive R.J. Scaringe to postpone its model launches several times.

Even so, the company has grand plans. It’s scouting locations for a European manufacturing site, Bloomberg News reported in February, and is in talks with the city of Fort Worth, Texas, about investing at least $5 billion in a second U.S. assembly plant.

The R1T pickup is slated to go into limited production this month and boasts 400 miles of driving range. The company will build the truck and the R1S, which has been delayed indefinitely, at a former Mitsubishi Motors Corp. plant in Normal, Ill.

Rivian also has a contract with Amazon to build 100,000 electric delivery vans by the end of the decade, with 10,000 due by the end of next year.
​
Equity-capital markets have seen a slew of big IPOs this year, including Robinhood Markets Inc. Another large startup, restaurant payments firm Toast Inc., filed on Friday for its offering, while eyewear retailer Warby Parker Inc. unveiled its financials earlier this week ahead of a direct listing.

Rivian Automotive Inc., the maker of electric pickups backed by Amazon.com, has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter.

The Irvine, Calif.-based startup said in a statement Friday that it submitted its S-1 registration to the Securities and Exchange Commission, confirming an earlier report by Bloomberg News.

The company would like to do an IPO around the Nov. 25 Thanksgiving holiday, said the people, who asked not to be identified because the filing was confidential. The timing will depend on approval from the SEC.

Should Rivian go public at an $80 billion market capitalization, it would be one of the biggest debuts on that basis this year. With $10.5 billion raised from backers including Amazon and Ford, an established factory in Illinois and thousands of reservation holders for its R1T truck and R1S sport-utility vehicle, Rivian is among the most serious competitors lining up to take on electric-vehicle leader Tesla.

Rivian said in its statement that the size and price range for the proposed offering have not yet been determined. The company is working on the IPO with advisers including Goldman Sachs, JPMorgan Chase and Morgan Stanley, Bloomberg News reported in May.

Rivian’s institutional investors include T. Rowe Price, BlackRock, Soros Fund Management, Fidelity, Coatue and Third Point.

While the company has a who’s-who list of backers, it has yet to deliver any vehicles to retail customers and has encountered multiple setbacks starting production. The COVID-19 pandemic has brought about supply-chain disruptions and parts shortages that have forced Chief Executive R.J. Scaringe to postpone its model launches several times.

Even so, the company has grand plans. It’s scouting locations for a European manufacturing site, Bloomberg News reported in February, and is in talks with the city of Fort Worth, Texas, about investing at least $5 billion in a second U.S. assembly plant.

The R1T pickup is slated to go into limited production this month and boasts 400 miles of driving range. The company will build the truck and the R1S, which has been delayed indefinitely, at a former Mitsubishi Motors Corp. plant in Normal, Ill.

Rivian also has a contract with Amazon to build 100,000 electric delivery vans by the end of the decade, with 10,000 due by the end of next year.

Equity-capital markets have seen a slew of big IPOs this year, including Robinhood Markets Inc. Another large startup, restaurant payments firm Toast Inc., filed on Friday for its offering, while eyewear retailer Warby Parker Inc. unveiled its financials earlier this week ahead of a direct listing.
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The Club PUBlication  08/16/2021

8/16/2021

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Hi Everyone!

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In just over 2 weeks, we'll all be in Manitowoc to attend our 60th HS class reunion.  A lot has been planned, so I thought It would be good to put together a schedule that we can use to keep organized.  I'm placing it on the Club PUB so you will always have immediate access to it.  
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​Class Reunion for our 1960 graduates - 
FRIDAY AUG 20, SATURDAY AUG 21, AND SUNDAY AUG 22.

Day One, Friday, Aug 20

Coachmen Rally Event
11:30 AM  at the Courthouse Pub in Manitowoc
1001 S 8th St, Manitowoc

Reunion Event
6:00 PM through the evening - (Cash Bar)
Elks Club (formally Timber Lodge)

1807 North Rapids Road, Manitowoc

.......................................................................................................

Day Two, Saturday, Aug 21

Coachmen Event
10:30 AM Tour of Pinecrest Village (Guided by Dale Sievert)
924 Pine Crest Ln, Manitowoc,

(Lunch at Lates after the tour)

Reunion Event
5 -6 PM Reunion registration
Dinner at 6 followed by music free beer and soda after 8
Knox's Silver Valley Supper Club 
1222 Alverno Road, Manitowoc, WI 54220

.......................................................................................................

​Day Three, Sunday, Aug 22,

Reunion Event
1:00 PM Traditional Picnic
Food served at 3:00 PM
Paul & Karen (Mangin) Bouril's 
3818 Gass Lake Road, Manitowoc 


Coachmen Event
6:00 PM Dinner at Machut's Supper Club 
3911 Lincoln Ave, Two Rivers

(After dinner, Grasshoppers at the lighthouse Inn
Two Rivers)


​
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The Club PUBlication  08/02/2021

8/2/2021

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​HOW WALKING CAN BUILD UP THE BRAIN
Boosting the connective tissue in brains is as easy as a walk in the park.

By GRETCHEN REYNOLDS New York Times​

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Exercise can freshen and renovate the white matter in our brains, potentially improving our ability to think and remember as we age, according to a new study of walking, dancing and brain health. It shows that white matter, which connects and supports the cells in our brains, remodels itself when people become more physically active. In those who remain sedentary, on the other hand, white matter tends to fray and shrink.

The findings underscore the dynamism of our brains and how they constantly transform themselves & for better and worse; in response to how we live and move.

The idea that adult brains can be malleable is a fairly recent finding, in scientific terms. Until the late 1990s, most researchers believed human brains were physically fixed after early childhood.

But science advanced and revised that gloomy forecast. Studies indicated that some parts of our brains create neurons deep into adulthood, a process known as neurogenesis. Follow-up studies then established that exercise amplifies neurogenesis.

These past studies of brain plasticity generally focused on gray matter, though, which contains the celebrated little gray cells, or neurons, that permit and create thoughts and memories. Less research has looked at white matter, the brain's wiring. Made up mostly of fat-wrapped nerve fibers known as axons, white matter connects neurons and is essential for brain health. But it can be fragile, thinning and developing small lesions as we age . It also has been considered relatively static .

But Agnieszka Burzynska, a professor of neuroscience and human development at Colorado State University in Fort Collins, suspected that science was underestimating white matter. She considered it likely that white matter, like its gray counterpart, could refashion itself, especially if people began to move.

For the new study, published online in June in NeuroImage, she and her colleagues gathered almost 250 older men and women who were sedentary but otherwise healthy. They tested these volunteer; current aerobic fitness and cognitive skills and measured the health of their white matter using a form of MRI brain scan.

Then they divided the volunteers into groups, one of which began a supervised program of stretching and balance training three times a week, to serve as an active control.

Another started walking together three times a week, briskly, for about 40 minutes. And the final group met three times a week to learn line dances and group choreography. All of the groups trained for six months, then returned to the lab to repeat the tests from the study's start.

The walkers and dancers were aerobically fitter, as expected. Even more important, their white matter seemed renewed. In the new scans, the nerve fibers in certain portions of their brains looked larger, and any tissue lesions had shrunk. These desirable alterations were most prevalent among the walkers, who also performed better on memory tests . The dancers, in general, did not.

Meanwhile, the members of the control group showed declining white matter health .
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The findings tell us that white matter remains plastic and active, whatever our age, and a few brisk walks a week might be enough, Burzynska says, to burnish the tissue and slow or stave off memory decline.



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