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close video With all the businesses leaving San Francisco, ‘you’re not going to have a city left’: David Lee

Tacorea restaurant owner David Lee describes being mentally drained by the crime wave, and says he hasn’t received victim help from San Francisco leadership.

One of the largest publicly traded real estate investment trusts in the U.S. plans to close two of San Francisco's major downtown hotels, saying the city's streets are unsafe and expressing doubts about the area's ability to recover.

Park Hotels & Resorts Inc. announced this week that it stopped making payments on a $725 million loan that secured both its 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55 San Francisco properties and expects to remove them from its portfolio, citing several "major challenges" in the California city.

A sign on the exterior of the Hilton San Francisco Union Square on Tuesday. (Justin Sullivan / Getty Images) Ticker Security Last Change Change % PK PARK HOTELS & RESORTS INC. 14.36 +0.21 +1.52%

"This past week we made the very difficult, but necessary decision to stop debt service payments on our San Francisco CMBS loan," Park Hotels CEO Thomas J. Baltimore Jr. said in a statement. "After much thought and consideration, we believe it is in the best interest for Park’s stockholders to materially reduce our current exposure to the San Francisco market."

COMMERCIAL REAL ESTATE CRASH STILL LOOMING OVER US ECONOMY

"Now more than ever, we believe San Francisco’s path to recovery remains clouded and elongated by major challenges — both old and new: record high office vacancy; concerns over street conditions; lower return to office than peer cities; and a weaker than expected citywide convention calendar through 2027 that will negatively impact business and leisure demand and will likely significantly reduce compression in the city for the foreseeable future," Baltimore said.

A view of the Parc 55 by Hilton Hotel in San Francisco on Tuesday. (Justin Sullivan / Getty Images)

In its June investor presentation, Park Hotels cited "on-going concerns over safety and security" as part of its rationale for giving up on the two prominent San Francisco hotels, and said the move would save $30 million a year in interest payments and some $200 million in maintenance expenses over the next five years.

BUSINESS OWNER ABANDONS ‘LAWLESS’ SAN FRANCISCO, CALLS OUT ‘HORRIFIC’ CITY LEADERSHIP: ‘WE’RE FED UP'

All told, Park operates 46 hotels and resorts mostly located in city centers and resort locations, including the New York Hilton Midtown, the Hyatt Regency in Boston, the Hilton Hawaiian Village Waikiki Beach Resort in Honolulu and the Orlando Waldorf Astoria in Orlando, Florida.

Homeless people gather in an encampment in the Tenderloin district of downtown San Francisco on Feb. 24, 2022. (Gary Coronado/Los Angeles Times via / Getty Images)

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Park's departure comes amid a growing exodus of retailers fleeing downtown San Francisco for various reasons as the city continues to struggle with retail theft, homelessness and a raging drug crisis.

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Environment

Dannar Power Station concept continues to evolve beyond “just” power

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Dannar Power Station concept continues to evolve beyond

Dannar keeps adapting its Mobile Power Station to meet the needs of the electrified off road market, bringing power to forests, construction sites, and rural farms when it’s needed. But now, the MPS doing more than just provide the power to do the work – its moving dirt!

Since I first saw it at the 2020 AFWERKS challenge, the Dannar MPS has seemed to be a solution in search of a problem. What I mean is that, while a 22,000 lb., 500 kW self-propelled battery that can charge itself up on grid power then make its way to the off-grid vehicles that need it makes sense, there just haven’t been that many electric equipment assets deployed. Even at Volvo Days this past summer, where a Dannar MPS was used to bring energy to a Volvo EC230E Electric excavator and L120 Electric wheel loader, it wasn’t obvious that Dannar had a better, more effectively deployable solution than Volvo itself.

Again, a solution in search of a problem – or, is it?

Recently, Dannar has adapted its MPS concept into something more than “just” a rolling battery. Now, Dannar is adding implements, controls, and even whole operator cabs to turn the MPS into a vehicle that cam do real work.

Dannar evolution

Dannar MPS fitted with power broom, dump body; via Dannar.

Equipment assets and construction equipment are expected to perform thousands of tasks, but a lot of those assets can be built on a common chassis, with third-party upfitters adding the specialized bodies and implements that ultimately get the job done.

After proving that its MPS works, Dannar is pushing the idea that it can serve as a “common chassis” for a few hundred different types of vehicles, too – with Dannar’s (relatively) proven technology platform underneath.

“The chassis cab idea’s been around for a long, long time,” explained Gary Dannar, in an interview with Charged EVs. “It has a frame and possibly a cab on the front, along with an engine and transmission. Now, you can put an ambulance body on there, you can put a tank on there, you can do whatever you want with it.”

Emergency response

Dannar sees a universe where its MPS is something like a new-age ox, ready to take its high-capacity V2G-capable batteries wherever they’re needed, and help clear the road from whatever snow, rocks, or downed trees are blocking its path.

And, in many cases, Dannar is using implements and attachments that are already popular on the market. “We have a hydraulic system on the Mobile Power Station now,” adds Dannar. “The hydraulic system is run from an electric motor, so you end up with the best of both worlds. You have a high-torque electric motor with variable speed that is able to run a hydraulic system extremely efficiently and with a lot of control. That means a lot of these hydraulic attachments and tools actually work better (on the MPS).”

You can see a few concept renderings illustrating some of the possibilities of an upfit Dannar in the field, as well as a prototype MPS with an operator cab and bucket attachment, below. Once you give those a look, let us know what you think of Dannar’s do-it-all concept in the comments.

Dannar MPS + bucket attachment

SOURCES: Dannar, Charged EVs, Power Progress.

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Politics

Financial incentives violate consent for personal data — Privado ID

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Financial incentives violate consent for personal data — Privado ID

Privado ID co-founder Evin McMullen warned against short-term thinking for quick economic gains and compromising ethical standards.

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Politics

The builder shortage challenging the government’s growth plans

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The builder shortage challenging the government's growth plans

Chancellor Rachel Reeves this week confirmed government support for dozens of big projects to boost growth, on top of Labour’s existing promise to build 1.5 million new homes.

Major planning system reforms are under way in a bid to meet targets, but among the challenges the government faces in delivery is who will build them.

Construction bosses warn of a chronic worker shortage. The Construction Industry Training Board (CITB) estimates at least 50,000 extra workers are needed annually to meet current demand.

But analysis for Sky News’ Sunday Morning With Trevor Phillips now shows the UK’s population growth is far outpacing the size of its construction workforce.

Despite growing by 2.5 million people since 2019, the UK has lost 320,000 construction workers. There are now just 29 workers per 1,000 people, the lowest on record.

Population building

To address the shortage, construction has increasingly turned to overseas.

Analysis of the Office for National Statistics’ Annual Population Survey (APS) shows that in 2007, one in 12 construction or civil engineering workers was foreign-born. By 2016, this had risen to one in seven.

The APS stopped recording occupation by country of birth in 2022, so we don’t fully know the current picture.

Rishi Sunak’s Conservative government tried to attract more overseas construction workers by adding roles including bricklayers and stonemasons to the Shortage Occupation List in July 2023.

Since renamed the Immigration Salary List (ISL), over a quarter of roles now on the list are in construction.

Labour says it wants to reduce net legal migration, which was an estimated 728,000 in the year to June 2024.

Home Secretary Yvette Cooper has commissioned a Migration Advisory Committee report, expected in June, assessing which sectors are “over-reliant” on international recruitment.

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So if the number of construction workers coming into the country is limited, home-grown apprentices might be expected to cover any shortfall.

Government figures show around 15,500 people start construction apprenticeships every year, but nearly one in two (47%) do not finish their course. The dropout rate has risen sharply, up from 30% in 2014/15.

A survey last year by the British Association of Construction Heads concluded the main reasons for dropping out included redundancies, firings, and low salaries.

It means under 9,000 people a year finish their apprenticeship, one-fifth of the CITB estimate of the annual demand.

The government has funded 32 skills hubs to offer fast-track training for 5,000 extra apprentices a year by 2028, in trades such as bricklaying and scaffolding.

On this weekend’s Sunday Morning With Trevor Phillips, Trevor will be joined by Home Secretary Yvette Cooper to discuss whether the solution is more immigration or more domestic training.

Watch Sunday Morning With Trevor Phillips every Sunday on Sky News from 8.30am.

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