Good morning, everyone. My name is Maria Torres-Springer. I'm the Deputy Mayor for Economic and Workforce Development. Thanks to all of you for joining us this morning. We are so thrilled to be here today to share how we are taking major steps forward to ensure that Broadway Junction is a thriving 24-7 transit jobs and housing center right here in Brooklyn. And so please join me in welcoming the person who has made sure that our economic recovery is focused squarely on creating real opportunities for local residents and businesses. I'm happy to introduce the Mayor of New York City, Eric Adams. Thank you. Thank you so much, Deputy Mayor. And I really want to thank our partnership here with Councilwoman Ners. This community is just really, there's, you know, almost an emotion that's attached to this because this is my childhood. This is who I am, you know, growing up in Brownsville, using this, the J-line, the A-line, the L, the double L to move throughout the city. And for far too long, this amazing connection of our public subway system has been ignored. And as Brooklyn Ball President, my first year in office, I took a trip over here and saw the possibility, the vision of what we can turn this community into. And as I look at these artists' rendering of what we are moving towards, it takes real partnership, real commitment, and real dedication, and real dollars. And Deputy Mayor Maria Torres-Sringer is coming off of last week's announcement on Governor's Island a few weeks ago. Our Broadway Plaza program, and you just continue to see that we do not have a one-borrow Manhattan Center initiative, we have a five-borrow Manhattan, and the other four boroughs are going to be included in this. And when you think about it, District 33 is one of the transit commands that I used to move through when I was doing what was called TPF Train Patrol, the Tactical Patrol Force. It was just one of the many ways that you had to ensure that this community received what they needed and what they deserved. We fought to bring investments here, and we are here. I believe that if we built it, the opportunities would come. And as Mayor, I'm proud to say we're getting it done, location by location, site by site, project by project. Last year, we announced an investment in the largest ever commercial building in this area, which would bring good jobs to the community. EDC head Andrew Kimball pointed that building out to me was last year. You already see it's up and it's being built. It is getting stuff done. As part of our care strategy, city agency revitalizing the economy, that's what the acronym is for. Today, we are taking the landmark next step. With nearly $500 million invested in public spaces and infrastructure right here at Broadway Junction. There's so many people from this community that would have believed it would never happen. It could never be done. Well, we keep saying those who are doubters need to get out of the way of those who are doers because we are going to get it done, including $95 million from the city for major public space improvements. These investments will help create more than 2,300 construction jobs right here in this community and more than $11 billion in economic impact for our city. We are adding two new public plazas for everyone to use and enjoy, and we're creating a safe streets for pedestrians, cyclists, and all who care and want to share our roads. We have seen more than 400 new homes recently built in this neighborhood, nearly all rent restricted. We expected another 1,700 new homes in every project will be subject to minimum affordability standard. This is a bold vision for this neighborhood. This is a neighborhood that deserves it, and it's going to be the anchor of this community to allow this community to continue to thrive and grow. This process has been led by people who live here, including your councilwoman, who was crucial to getting this project done. I'm proud to have been part of this as Brooklyn Ball president, to plant the initial seed and vision, and now we're seeing the fruits of the harvest of that vision as we continue to move forward. The plan reflects what the community wants and need for our city because enhancement should not mean displacement. Enhancement should not mean displacement. It's about people who lived here, should have a voice here, and that is what we're doing. This plan is going to create good jobs and economic opportunity for the next generation in East New York, Brownsville, and in this entire area. That's included the incredible young people that are joining us today to see the vision for tomorrow. This is how we support residents, local businesses, and promote economic opportunity. And this is how we get people to spend money right here, recirculate those dollars, use government services to anchor the businesses in the area, and to continue to bring productivity here. This investment is part of our broader plan to build affordable housing, more office space, create good jobs, and make Broadway Junction Station more accessible for our brothers and sisters with disabilities, thanks to a $400 million investment from the MTA. Brewery Junction is already one of the busiest stations in Brooklyn. You see it every day, the people moving to and from with all of the lines intersection here. It continues to thrive and provide a vital artery to the central business district or to downtown Brooklyn. And at its center is this vision for our neighborhood and our community. It connects us to the rest of New York City and offers access to infrastructure, reflects its importance to our city. Last year, Governor Hoker and I released the new New York report highlighting this area as an emerging jobs hub. We have delivered on a commitment from that plan to appoint a chief public realm officer, Ya-Ting Lu, who's really taking the job by storm, looking at how do we create public spaces all over the city. Today, we are opening up yet another public space across the five boroughs, and we have already begun work on projects on Fifth Avenue and on Broadway. And I'm proud to say that we have public realm projects underway in every single borough. I want to thank my good friend from EDC, Andrew Kimball, who has really brought the vision to the job and how we continue to have the partnership that is needed, working hand in hand with the community on this new vision, as well as our partners across the public and private sector, including the community members who have given so much throughout this process to get the product that we're looking for. I am who I am because of this neighborhood. And I've seen how members of this community have been left behind for too long. Too often, government has made promises and then broken them. That ends in this administration. This is the promise made, the promise kept under this administration. And with the right partnerships throughout the city, all the promises that we made when we run for office will be produced while we're in office. Congratulations to this community. Congratulations to all the participants. This community deserves this project and is going to continue to be the anchor for this community and the community surrounding it. Thank you very much. Thank you, Deputy Mayor. Thank you, Mayor, for your vision and your leadership on this enormous investment in this area. Now, we are here, of course, because of the leadership and partnership of so many across government, I want to acknowledge our Commissioner for Housing Preservation and Development, Adolfo Carrion, our Department of Transportation Commissioner, Adonis Rodriguez, there you are. Of course, Borough President Antonio Reynoso, we will hear from the amazing council member in just a few minutes, but of course, a particular shout out to Andrew Kimball and the entire team at EDC who have worked on these plans and investments for a very long time. And it's because of all of you that they are finally coming to fruition. So these public realm investments as the Mayor mentioned really build on a series of steps that our administration is taking to create inclusive, dynamic, complete neighborhoods around transit-rich communities where we can generate the most impact for those investments. The public realm improvements will include two new public plazas on either side of Ancindern Avenue and Fulton Street, and they will serve as the new gateway to the transit complex. The new improvements will create a signature new public space that will complement this amazing park where we are, Callahan Kelly Playground, this reconstruction which has been led by the parks department and will open in just a few weeks. These open spaces will be further enhanced by improvements to Vancindern Avenue by EDC and DOT to make it a more safe and pedestrian friendly corridor. And now importantly, because this isn't just about building buildings or paving roads or even building parks, this has to be about creating the types of opportunities that accrue to local residents and community members. So working closely with council member nurse, EDC will leverage city assets to create new economic opportunities for local businesses in the East New York industrial business zone. And they'll do this by promoting leasing opportunities of city assets and activating underutilized publicly owned lots. And with the MTA, the department of small business services and the mayor's office of talent and workforce development, the city will use multiple strategies and programs to ensure that local residents have access to jobs and training opportunities generated by all of the economic activity in this neighborhood. Now the culmination of work between the MTA, EDC and all of our partner agencies will ensure that Broadway Junction finally gets the investment that it has long needed, long deserved and the area will be transformed into a dynamic and inclusive center for jobs, housing and investments. And so the mayor mentioned the $500 million of improvements includes 400 million in investments to transit and so to share more details about that massive investment, I'd like to welcome the president of MTA construction and development, Jamie Torres-Bringer. Thank you very much, deputy mayor and mayor. It's great to be here and be sharing this moment with the city. You know, I like a few others here have been around planning and economic development circles for a long time and people have been trying to get this done, to create this vision and back it up with investment and action for many, many years and decades. People from the community who are here today, staff from agencies, a couple in particular, I know have been working on this forever and we're very proud that this governor and this mayor got past jurisdictional lines to develop a new vision for the future of Broadway Junction and the investment to go with it. And so we're not just literally family here, we're also figuratively family in the way that we've worked together on these investments. From the MTA's point of view, Broadway Junction is the heart of the MTA. It's the third busiest station complex in Brooklyn. 100,000 daily users are using the A and the C, the J and the Z and the L lines here. We have our great MTA staff who work hard every day and who are based here, it's great connectivity and we've all recognized that for many, many years and we just needed to make the improvements to unlock all of the opportunity in this district. I also wanna emphasize, just a couple blocks away, we have the East New York Long Island Railroad Station. It now as a result of the opening of Grand Central Madison and East Side Access, the $17 billion the MTA has invested over the last 15 years in Long Island's connectivity to the city has a 50% increase in service along with a 60% increase in reverse peak service getting people to jobs on Long Island after those improvements and with the new Atlantic ticket, an affordable way for people to use that service. But it's not just MTA services, this is home turf for the MTA. Nearly 2,000 employees report here every day at our rail yards, our bus defos and our various support facilities. We are deeply invested in this community and we're proud to be making the investment that we're describing today that reflects that commitment. Later this year, we'll get started on a more than $400 million design build project to make the entire Broadway Junction Complex fully ADA accessible with accessible transfers between all three of those lines that I described. And this is not just a simple project. This is a very big project. I would say we are essentially rebuilding the entire station that you see behind us here. We're replacing all of the existing escalators, including the escalators in that facility right there. We're adding seven new elevators to this station complex and we're adding a new street entrance on the east side of Van Cinderan to go along with the plaza that the city is talking about. So that will all get started this year but the ADA project is just one piece of the MTA's investment in Broadway Junction and East New York. In next month, we will start painting and structural repair of the JZ and L elevated structures in this area. You can actually see it if you look closely, obviously the disrepair to the line structure that you see here and the work that's already been done. You can see in the distance here looks much better over there. We'll be heading up here next month. We should be done by August. That reflects a vast acceleration in what we call over coding within the MTA's program. We're getting 26 miles of painting structures and not just painting structures, remediating structures and making them last for much longer in this capital program versus six miles in the last capital program. That's not it. East New York will have electric buses starting next year as part of the first phase of our zero missions bus plan. Demonstrating how we are putting environmental justice front and center as we aim to reduce our operating emissions by 85% by 2040, a commitment that we announced for Earth Day last week that the transition to zero missions buses is a big part of. We'll be working with our partners at the city and we've worked a lot on this to improve the public realm and clean up Broadway, which is a critical issue here that we all recognize. As I mentioned, we've increased service at the East New York LIR station by 50%. And lastly, in the future, we'll also be planning together for a future Innerboro Express station at Atlantic Avenue just to the south of the East New York station. So lots of investments here. We're very excited. It'll be a better place for our workers and for the communities they serve. I wanna thank the mayor and the city for their dedication and their partnership. Thank you. Thank you, Jamie. We are of course excited to have the leadership and partnership of colleagues with the state. And of course, none of this can happen if we aren't working closely and collaboratively and meaningfully with local elected officials. And so I'd like to introduce now the council member for this district who has been a very strong advocate for local investment here, council member Sandy Nurse. Thank you. Good morning. Morning everyone. It's so good to be here with you all. I see many leaders here from East New York and Cypress Hills and Brownsville and Bushwick. And it's really great to be here with so many of you who have pushed really hard and advocated really hard to bring us to this day. And after listening and working with you for such a long period of time, I'm really proud to be part of having helped push and deliver 95 million in public dollars for Broadway Junction. You know, our community really feels that Broadway Junction has been neglected. And I think for many in this community has come to be to symbolize broken public promises. And I really think that this investment is a critical step in rebuilding between residents and advocates who have worked really, really hard and have been advocating for decades for long overdue improvements and our city institutions. So I very much see this as a very big deal. And I think we should celebrate that. I think we should. So for the last 15 months, I've spent almost some portion of every single day here at Broadway Junction because my office was just right up the street. We actually used to call it the dungeon because it's the darkest area in this district and no one wants to come here. I train here and mostly take the stairs because the escalators inconsistently work. And I wanna go get a cup of coffee from Papos. I'm walking in the middle of the street because there's cars all over the sidewalk. Our seniors and residents who have mobility devices don't wanna come to our office because the sidewalks are torn up and dangerous for them. And even our team, we'd come here and park our cars or get off the train and we're dashing across Broadway because cars are just flying down the street because it's a hidden area. And so I share this to say that I'm here every day. My team is here every day and we know how much this investment really means to our community. We know how much this investment has been owed to our community and we know that communities further east from us who use this junction will finally have an accessible junction, an accessible transit hub. East New York deserves a safe, inviting, a beautiful modern transit hub for our community that benefits the residents and small business here and not displaces them, so thank you, Mayor Adams. These funds will address very stubborn issues, pedestrian safety, lighting, traffic calming, and I really welcome this vision for an open space plaza that our community residents can really enjoy and gather in. And I also wanna just acknowledge the investments that were made by our former council member, Rafael Espinal for this park. I wanna thank you, Mayor Adams, for committing these resources to our community today. I know you have a vision for this junction and I believe that with intentional and deliberate community planning, there is a pathway to transform the junction in a way that is just and a way that safeguards this community from displacement and gentrification. And I know that is your goal as well and so I'm very committed to working with you. I wanna thank you, Andrew, for spending time walking this area with myself, my team, community members.  Really appreciate it. Thank you to the MTA and DOT for showing up and making yourself available to countless meetings and town halls and really making yourself available to answer community questions. And I wanna thank our borough president, Antonio Reynoso, thank you for your partnership and your mentorship on this project as well as many others. I also just wanna really thank Ryan, Ryan from my team, who Ryan spends 50% of his time on Broadway Junction, on IBZ, talking with community, talking with the agencies. You're doing a great job and I couldn't be more grateful. Thank you. Since coming into office, my team, we've worked really hard to be in collaboration with everyone mentioned here and really try to co-govern with the community groups and residents who have been fighting for these long-awaited public investments. I think it's important to note that the community leaders here today see public funding in the public realm, not just as a means to spark private investment, but fundamentally as a right in and of itself. And I think that's just really important to underscore. So today's commitment really belongs to you all, belongs to them. I wanna thank the Coalition for Community Advancement, the East New York Community Land Trust, United Community Center, Cypress Hills, LDC, East New York LDC, University Community Boards 5, 4, and 16, and many others who have all pushed for this historic investment. This is really exciting. It's very exciting. And it also demands prolonged accountability and real community engagement to ensure that those who live here benefit first. So I am very appreciative. Thank you so much for accommodating my schedule. Thank you, Mayor Adams. Thank you, everyone else. Thank you. Thank you, Council Member Nurse, for your powerful words. I know you're on a tight schedule, so thank you for joining us. Finally, I would like to bring up a local leader, A.B. Whitfield, who is the co-founder of the Trey Whitfield School in Brooklyn, which has become a real beacon for high quality and affordable education in the area. A.B. Always, always. Good morning, everybody. I'm just happy to be here. Happy to be invited. While school has been here for 40 years, believe it or not, 40 years, it's an anchor in the community, but what we have going for us right now is the premier anchor. This project will revitalize this entire area. So much needed. It will do so much for our families, for our children, it'll make our community safe. And then finally, we have a mayor who's gonna get stuff done. I've known him for a long time. Before he became mayor, he did some things that you would love to know. He's heart, all heart, not allowed to talk.  I'd like to thank East New York Development, Bill Wilkins, and this group from the time we've been in this neighborhood 40 years ago. They reached out for us, helped us maintain our foreign and feminist, and our school has produced guys like Justin Turner, an alum from our school, Mayor. Love him, Mr. Justin Turner, where are you? Beautiful. Those are the types of products that we produce. We will continue to do better when this project emerges. And when we'll grow like flowers, we'll blossom in the spring. I'm just so glad that Sandy Nurse was here. First got elected, she visited our school right away, came over to say hello, I'm here to help you, I'm for education, I'm for the community, and that. So we've helped all the way for 40 years. We've been anchored here in Hope-I-Stare. Another 40 years, if I live long enough that we can see this project come to fruition, it'll make my world. But Mayor Adams, again, I thank you so much for all that you do. Behind the scenes, in front, when I owe you so much. To your office and your staff, we thank you, our families from Trade Whitfield School, thank you so much, and thanks for having us. I'm so excited to take this back to our families and our children. Our babies want to come out, Mayor, but it's raining, and we don't want them to catch cold. They're a little upset that I kept them back, I thought it would rain on them, but the baby was upset with me, so you gotta come over sometime and say, oh, it's okay. But thanks so much, everybody. This project's gonna make all of us happy. Thank you so much. Thank you, Mr. Whitfield. And so at this point, I'd like to bring back the Mayor for questions and answers. And before we open up the question, I wanna bring back the amazing Bar President for this community. Bar President Manoso, please say a few words. Thank you, Mr. Mayor. I'll be quick. It's about faith, it's about building trust with government, and it's very difficult in communities like this. The outer portions of Brooklyn really feel neglected constantly. A lot of it has to do with transportation access or lack thereof, and what we're seeing today is a commitment to the outer portion of Brooklyn. And when that happens, we rebuild trust, and we show that we can actually get it done. But that hasn't been the history, so I wanna thank Mayor Adams for doubling down, committing to making sure that whatever we talked about or that we said during the campaign, we could actually follow through on and see. This is gonna be great for East New York. Their confidence in government is very low, but once they see this work happen, we could start talking about not only maintaining and surviving, but thriving in this area. So I'm really excited about it. I'm looking forward to what the next steps after this revitalization are, and also wanna talk about that the center of the universe is not Manhattan. It is not. And to be honest, it's not necessarily the economic hubs of every single borough. Downtown Brooklyn is also not the center of the universe. That the economic development of the future is about building in local communities so that they don't need to take the train for an hour to get to Manhattan. They don't need to take the train for 20, for 30 minutes to get to downtown Brooklyn, that they can have jobs here, they can learn here, they can eat here, they can do everything here. That's the future. It's economic centers around the entire city, not just in central hubs. And seeing this happen speaks to that future that I know Andrew and I have talked about in the past. So again, wanna thank Mayor Adams for following through and getting stuff done so that when in the future, when we come back, they can't say you never did anything. They can't do it. You can't walk in front of Mayor Adams and say, we're from East New York and nothing ever happened. You're actually seeing it happen. So I wanna say thank you to him and thank you to Councilwoman Sandy Nurse and former Councilmember Raphael Aspenau that really centered their work in this. So thank you and don't forget to spread love. It's the Brooklyn way. Thank you. Thank you. So I acknowledge some of my leaders here as well. Dan Garodnik from City Planning and my Commissioner of Small Business Services, Commissioner Kim, thank you as well. I'm gonna miss anyone. Thank you all for coming out. Let's send them to a few questions. One of you guys. Those homes were entitled through the past rezoning but we expect that this kind of investment here locally will be catalytic in moving those projects forward. So there are about 400, as the Mayor said, deeply affordable homes that are already in the pipeline and there'll be another 1300 coming as a result we expect of this investment a new improved transit hub near to where folks will be living. Okay, okay. Thanks all. We'll do a few off topics. You guys could free yourselves to a few off topics. How are you? Good, how are you doing? Good. Do you think that El Paso Mayor Oscar Elisor said two times more migrants than New York City than Abbott are targeting New York City and other cities because they're run by black people? Let's be clear because we need to correct the front page of the post. I never used the term racist. That was a little creative journalism that was used. But let's look at the facts. 108,000 cities in New York, 108,000. Governor Abbott sent asylum seekers to New York Black Mayor, to Washington Black Mayor, to Houston Black Mayor, to Los Angeles Black Mayor, to Denver Black Mayor. He passed over thousands of cities to land here. And so I don't think El Paso, I don't think Brownsville, Texas, I don't think any of those other cities should have to bear the weight of the failure in Washington DC. And so it was wrong for the mayor of El Paso to do it. No one should use human beings as political pawns.  We're closing the home. The state budget has about $1 billion in it to reimburse the city of Michael William Costs. You've spoken a lot about the fiscal impact that the crisis is having on the city. The fact that you have now secured this reimbursement, does this mean that you can start looking at reversing some of the proposed cuts in your executive budget or you think you can roll some things back, invest more in other areas? Okay, first of all, we didn't do cuts. We did pegs, program to eliminate the gaps. When I ran for office, if you go look at the tapes, you'll see the tapes stated that I'm going to find efficiencies in government and we're going to do pegs. I stated this over and over again. The New York City public heard me say it. They heard others talk and they said, nope, we like to plan that Mayor Adams, the candidate is running and that was the right thing to do. I don't know if people are aware of what we said is the financial impact of the city. 4.3 billion dollars. 4.3 billion dollars. So because we are getting a billion, which is coming in layers from the state, do we go back and just spend widely again? No, the city must be efficient without layoffs and without cuts to services. And we have to really acknowledge the turbulent forecast that's in the future. Wall Street is not doing well. We are seeing real challenges that the city is facing and we're going to be smart, prudent, and protectors of New York City taxpayers' dollars. A budget as well, you know, you got some wins as regards to bail reform, you know, you like to say criminal justice reform and also in terms of the MTA funding and the migrant crisis like Chris just said, but some of the housing policies that you pushed for, like raising the FAR cap and extension 421A for projects in the pipeline, those didn't go anywhere. Do you think those have potential to get through before the end of session? Are you going to be lobbying for them? Well, first, I cannot thank my statewide leaders, Speaker Hasties, Majority Leader Andrew Stewart-Cousins, the governor for the conversations that we've had leading up to the budget. We spent a lot of time in Albany, sitting down with them. They heard our concerns. We were facing over half a billion dollars a year in additional subsidies to the MTA. They heard us, they substantially brought that down. And there's some real Ws. The budget bills have not been printed completely yet of my knowledge. We're going to look through them. I was briefed yesterday by the governor. We want to look through them and see what other initiatives we're going to push through throughout the rest of the session. The session is still in place. We need a housing plan. I've made it clear that we're looking forward to finding a way we could do 421A and we could do so many other initiatives to go with our real moonshot goal of 500,000 units of housing. In order to build, we have to put in place an infrastructure to build. And that is what we're going to continue to advocate for. If we leave without any real plans on how we're going to build our way out of this affordable housing crisis, it will be a big mistake on my part. I'm going to continue to talk with my leaders up there and see if we can land the plane. Thank you. So Dana. Hi, how are you? Quite well. You've talked a lot about the economic impact of the migrant issue. Are there any proactive policy initiatives that you would have undertaken were it not for the migrant issue? And relatedly, are you at all concerned that your rhetoric on the migrants will in any way inflame anti-immigrant sentiment here in New York City? Yeah, well, one, I'm not going to speculate on what isn't, I'm going to deal with what is. I got a $4.3 billion budget. A second, I'm not spewing rhetoric and I take offense to that. I've made it clear from day one, if you look at every comment that I made, it is not about asylum seekers and migrants. All of us came from somewhere to pursue the American dream. It is the irresponsibility of the Republican Party in Washington for refusing to do real immigration reform. And it's the irresponsibility of the White House for not addressing this problem. Brownsville, Texas, El Paso, Denver, Los Angeles, New York, Chicago, we should not be burdened the weight of this problem. And so it's not about the people who are pursuing the American dream. It's the irresponsibility of those that are allowing them to come to a country and not build the infrastructure to allow them to pursue that dream. So people who are attempting to make it that this is an attack on the migrants, I did not see them sleep with the migrants in a herd. A lot of people sit on the sideline. I don't see them on 34th Street volunteering to give out food. I don't see people on the ground. I'm on the ground. If they love our migrant and asylum seekers, they need to stop being intellectual and philosophical and come and participate and help. We need a lot of volunteers. So they should come and volunteer at a time. English is a second language. They should come and volunteer job training. They should come and volunteer a food service and how to navigate filling out the documents. People need to stop criticizing and lead from the front like we are. Come out and volunteer and help our migrant asylum seekers. And that's not rhetoric. That's commitment. I was wondering why you didn't attend the Met Gala yesterday and also why you seem to be out less than night lately. Why? I... You seem why you didn't attend the Met Gala and also why you seem to be out less than night lately. Oh, well, I had four events around the same time. One of them I was being honored by a literacy organization. I was receiving the Literacy Hero Award down at Casa Sipriani. They acknowledged the good work we're doing around literacy and I had several of the events that was in conflict. I would love to have come and, you know, sport a nice tuxedo, but I had other engagement.  Every night, there are a million and one things going and I tried to, you know, spread love the New York way. And so that's why I couldn't make it. Now you say I haven't been out lately. No, New York Times just haven't been following me lately.  They realized that writing articles about me going to different places is not going to stop me. I'm the nightlife mayor. You know, this is a 24-7 city. I'm obligated to go patronize my restaurants, patronize my theater. I was at New York, New York play the other night. That's my responsibility. You know, this city doesn't shut down at 6 p.m. We have people who work from 4 to 12 overnight shifts. I didn't fall into the house last night until 2 a.m. So it's not that I'm not out. Y'all have finally realized that I'm going to be out no matter how much you write about me, criticize me. This is my city and this is our city and we need to enjoy it throughout today. So, you know, I'm still out. If you want to hang out, I got some nice spots we can hang out in.  I'm a Tito's and self-suffer. Or I like a good cognac and a nice cigar. But, you know, I'm out. I enjoy the city. I don't get home early.


Hi guys, welcome back to my YouTube channel. This is Daniel Rosal. I want to make a quick video today on the subject of Kitzurim for fellow Hebrew learners, fellow people learning modern Hebrew Ibrit. So, Kitzurim are, I think, one of the things you're going to be really seeing a lot of if you're a Hebrew learner. They're actually one of the most bewildering facets of the language, in my opinion, and there certainly are a few of those. I think the reason for that is their sheer prevalence. There are so many Israelis absolutely love Kitzurim. They love making contractions out of words, and that maybe speaks to the Israeli mentality and always loving shortcuts, but you'll find these all over the place. Kitzurim can also be mean to use, let's say, a Kitzuriderech, which means like a shortcut, and therefore a Kitzurim can both have an linguistic meaning and a colloquial meaning totally outside a language. Now in English, a Kitzurim kind of overlaps with a few different brackets. One of those would be slang or acronyms. So for instance, we'd call the FDA, the Federal Drug Administration, or the United Nations, we'd call the UN. That's a, those are acronyms, but Kitzurim can also actually be used to abbreviate things for and make words that are actually spoken. So I'll give you a few examples. One of those would be the United Nations is called in Hebrew, Ha'um, and that's an acronym that's actually spoken as a word. Ha'z is an acronym for, is a Kitzur for L'uach Zman, like my schedule, Alad Shalipatua Chayum, for instance, to put that in a sentence, Sofash is another really, is another one you'll hear a lot, which is a Kitzur for Sof Shavua, Sof HaShavua, so that the weekend in other words. So you would say Sof HaSh, but you wouldn't say, for instance, Ahab. So Artsota Birit, when you see it written in, in, in the news, in the way, in the same way in English, we would say US, but we wouldn't say us. We wouldn't say, I just spent a few weeks in Osa. You'd say I spent a few weeks in the USA. There are also Kitzurim in Hebrew that you do not read. And Artsota Birit would be one of those. I've never heard people can correct me if I'm wrong. I've never heard someone say Ahab. I've never heard someone read that out. But you do see all the time in Hebrew language news, Alif, Reish, Hey, Chubchuk, Bait. So that is written. So let me just quickly go ahead and I'm going to show you one thing, firstly, how easily Kitzurim are encountered. So sometimes I open up a news article in, in Hebrew. I meant to, I meant to jump screen right there. Sometimes they open up a news article in Hebrew and I'll take out my little notepad and a pen or a Google Doc. And I'll just begin sort of adding in vocab. I might know by running it through more fix to translate it. But commonly I'll also have to look up Kitzurim. So this is an article about the corona. So Lerishonah means for the exclusive, I guess is the best English translation. Sevatatipul b'magifot yakayem diyun patohach al khisune corona leyaladim. Which means that the corona task force is going to be opening up a public discussion for the treatment of coronavirus among children. So let's just, let's just go ahead translating this. Biakvut ishur ha FDA, following FDA approval ha satam? What's a satam? So here we go. We made it four words into this article and we have a kitzur. And that's why I actually chose to make this video. Ha satam yakayem bayom hamshi diyun patohach le tibur. So that sentence to me is fine except for the kitzur in it. Ha satam. So here's what you can do. Do not fear the kitzurim. I would argue the URL is not, there should be a T in it. But there is not, it's kizur.co.il. And this is a kitzur lookup tool. So what you can do is you can either a lookup by a kitzur or you can search for a word and see if there is a kitzur available for it. You can go kitzur to words or words to kitzurim. So for instance, if I wanted to look up ha satam. So I don't, I don't need the definite article. So I just need the satam part of it. And I'm just going to pop that into my magical kitzur demystifier. And you can see we have a match. So it says kitzur and ha gadra. And by the way, there's another great tool which I'm sure most people watching this video are familiar with and that's Morphix. So the other great mystifier in learning Hebrew is vowelization because vowels aren't written out in Hebrew. So sometimes I do just pop that in in order to both look up the definition of a word ha gadara. Sorry, ha gadara. There's a, there's another vowel there. I was missing, I was missing under the race and that's a definition. I didn't know what it meant. No ha gadara. So the ha gadara of the kitzur for satam is sevet pitul maghefot, which literally translates to a treatment team in plagues. The definition of that's maghefa. So that's basically it's just a contraction for the treatment team in the, in pandemics. In other words, again, the corona task force, but because that's been so commonly referenced over this period, it's got its own kitzur. That's what I mean about Israelis loving kitzurim is going to be convening an open discussion. So if you encounter a kitzur or a, and here's another of them, you can, you can spot them quickly just by looking at the, mankal is a, is a common one, which means a CEO. If I put mankal, and if you want to know what it means, it's actually a kitzur for Menahel Klalli, general manager. Let's see if I want to go the other way around. You can look up Sof Shavua. So I looked up Sof Shavua and it told me that Sof Shavua is Sofash, which you'll hear, as I said, colloquially used as a slang word. So if you are boggled by the kitzurim, do not be boggled. You can deboggle yourself by going on to kizur.co.il. It's a kitzur lookup tool. You can go from kitzur to full words, or you can go from full words to kitzurim. And it's one of the many helpful websites that exist. If you are learning Hebrew. Thank you guys for watching. And if you want to get more videos from me, subscribe to this YouTube channel.


Tom O'Brien, welcome folks. This is Jacob, filling in for Tom O'Brien. He will be back tomorrow for your usual programming. Take a look today. It seems like the big seven, the magnificent seven, they're kind of selling off just a little bit, right? We have Meta up moderately at 0.5. We have Tesla down point, excuse me, 2% Apple down 1.25, and NVIDIA off a little bit at 1%, Microsoft down 2%. Let's take a look here. Meta is obviously introducing threads. That was one of the consequences I feel like of Elon Musk making some of the Twitter code open source. It's time to compete. You know, I was talking to Tom maybe a while, I don't know, probably around when Elon purchased Twitter and took it private, you know, there's going to be so many kind of changes made to that platform, and there already have been, right? And the further it goes away from what it was originally, the more that creates kind of an environment for someone to come in and fill in the niche that was, that original Twitter was filling in. And I had anticipated this maybe a year later, two year later, but to see Zuckerberg coming in so swiftly and, you know, kind of offering threads was pretty interesting. Again, I think there is a massive niche for just a very simple kind of wall of reading text, essentially. People to go out there and just put their opinions out with none of the added bells and whistles and kind of the complicated mess that Musk has made Twitter. And so we'll see if that, you know, once that gets ironed out, and I had tried to check it out. I don't have an Instagram or anything, so I wasn't able to create a thread's account. But with family members who have it, I took a look, and it's still ways to go on it. But this will be just another source of massive revenue for Meta and more data for them to sell out to marketing firms. When I take a look at Goldman Sachs, you know, speaking about, we can look at Meta, obviously. They, Zuckerberg stopped that whole metaverse move, right?  And I feel like what Goldman Sachs is about to do might do the same. Obviously, we're trading still at pretty high with Goldman Sachs at 317. But a few months ago, I came out and was talking about how they're going to back up the Apple credit card. And this was Goldman Sachs trying to get into the consumer banking market for whatever reason that's not what they want to do anymore. Their current executives are kind of a little bit under fire for all these different investments that they're making and trying to breach into new territory. And it's just not paying off for them. And I think they're getting a lot of flack for it. So they're trying to basically shift an offload Apple credit card. At least in this article, they're saying American Express. Now, there have not been any serious talks whatsoever. This is not a sure kind of thing that they are going to give it to, say, American Express, but they definitely are looking to offload it. We can take a look here, the talks come amid a broader retreat by Goldman from its largely failed consumer banking initiatives, for which the CEO, David Solomon, has taken a great deal of heat. Last week, CNBC reported the Wall Street giant is preparing to take a huge write down on its 2021 acquisition of fintech lender, Green Sky. The Wall Street Journal first reported the Goldman Sachs talks with American Express. The newspaper said there's no assurance of a deal, nor is the agreement close. It would mark an abrupt reversal for the two corporate giants. In October, the Journal reported Goldman and Apple renew their partnership through 2029 and an April Goldman chief financial officer, Coleman, tatted a deepening of the partnership. Now, there might be a deepening of a partnership, and there might be some other way that they operate with Apple, if Apple wants to extend some credit line or do anything like that. But we might see basically a sell-off of their stake in that. And also now, as well, looking more at that Apple card, and I took some more time to look into it, they can change that rate at any time. It's a very appealing rate at 4.5%. And there's a lot of other options that younger folks can get into that give them higher returns. And we'll see how that affects the rest of the banking industry. We'll look at an article a little bit later. It talks about how that's a bit of a headache for some of them. But anyways, just some interesting news and this attempt of legacy companies trying to shift their position for the modern age. So it's quite interesting to see how that goes out. I love talking about cybersecurity on this talk. It's something I'm very interested in and passionate about. We're taking a look at Honeywell. And they're going to purchase an Israeli cybersecurity firm called ScataFence. And this is a pretty interesting stock, too. We always like talking about the defense stocks on here as well.  That's trading about 207 right now. Nothing that stands out exceptionally to me whatsoever. This is on the year to date. Since June, this is the last day with any kind of significant volume. And we tested that and came back up on it. We can take a little bit of a look and let me say quickly to really reinforce why this is such an important thing and why I harp on it all the time. And I do. And I said this before as well. Last, what was it? Two weeks ago when I was filming for Tom, we were looking at the DOE. They got ransomware, OK? A few weeks earlier, we were talking about how major companies are de-investing from their cybersecurity sector, excuse me, their cybersecurity departments. And then today, we have this coming out, which is data from 11 million patients exposed in an HCA health care theft. Personal data of about 11 million patients of HCA health care incorporated were exposed. And an online forum, the largest US hospital operator discovered a list with names, email addresses, phone numbers, birth dates, information about their appointments. I didn't include clinical records, payment details, passwords, or social security numbers. And that happens very often in data breaches, which companies are not required to expose, by the way. Data breaches at health care companies are often considered among the most serious, as they may contain a person's most private information and then obviously intimate information as well, when you're talking about social security numbers, payment details, and possible family ties in health history. Health care companies face growing cybersecurity risks with the accumulation of sensitive personal data and threats of ransomware that sees critical networks and up-end systems crucial to care delivery. And guys, this is done by other governments as well. This isn't just gangs online, even though that does happen sometimes. I mean, this is a serious national security threat. We'll talk a little bit about Honeywell acquiring scat offense when we get back. Stay tuned.


Good day fellow investors. I've recently started to research a new sector and that is the food sector because it's very interesting there are some strong trends there will be more people so let's see what and what are the potential investments and whether there is something to invest in. The topics for today the food tailwind because of what's going on in the world more people businesses are already profitable and established when compared to other things I don't know with big price to sales ratios there are dividends there are positive earnings buyback so there is a margin of safety in the industry what will happen is relatively predictable you're going to eat tomorrow there are modes with high barriers to entry from logistics scale legacy we have 200 year old businesses that we can buy and then also we will discuss bungee stock at the end that will give you a perspective on what are the opportunities how does it look like and what you can expect when we dig more into the sector so just a quick comparison to what is there I borrowed this chart from Justin Swiertek that just wrote an article on a software as a service company ESTC and I'm looking at this chart price to sales on average what will be around 15 so companies are selling at price to sales of 15 so I don't think in such a sector there is a margin of safety there is practically no book value and everybody hopes to get to the next I don't know Microsoft or something like that so very risky from my perspective and I will never buy something like this because it doesn't have a mode some new players can come in take your mode etc so it is some people will make a lot of money on these stocks and stocks like this but it is very very risky and the risk of permanent loss is very high with food stocks on the other hand the risks are much lower because of the better fundamentals so how do I research a sector I'm not just throwing my money okay people are going to eat more let's buy everything there is what I like to do is always take a list I have a list of nasdaq stocks international this is just a list of new york stock exchange traded food stocks and there are some quick things that I found and I would like to share with you over the first round of research that I did first thing is there is a lot of consolidation a lot of merger and acquisitions so six out of the 40 businesses on my list have been taken over just among those traded in the new york stock exchange over the last few years so consolidation means two things a young market the growing market or also an aging market in this case is the latter where companies like Campbell's soup Kraft Heinz to Tzerol and are finding it difficult to grow so they force themselves into expensive acquisitions that are usually poorer location of capital the second thing I found is that brand strength is declining and people look for new different things this leads to declining sales and many value traps one example that I discussed before is the Kraft Heinz stock decline and their weaknesses in the brands and the change in consumer preferences especially millennial in millennials number three it is not easy to find a business that is really getting traction in the new trends as those change quickly but when you look at 100 stocks there are always one or two that are or that might be interesting so there will be something to watch from this we later discuss banji which is an interesting stock and I'll just share my preliminary research with you so what are the tailwinds in the food sector the decreasing availability of land anticipated increasing commodity prices over the long term due to finite resources and the growing increasingly went wealthy population more meat consumption so there is a shift towards meat based diets increasing the need for grain based feeds the creation of markets in farm related carbon credits and water rights the increasing levels of investment by land poor and food deficient countries attempting to protect food supplies and the increase of value of farmland now I don't know why but I'm not fully convinced of these tailwinds I look at food prices and I see them go down or I see them going down over the last tenish years over the last decade so if we look at the chart we see food prices declining from the 1970s till 2000 then we had a spike in the 2000s as China came in became a great importer of food as emerging markets started growing but since then high level of investments and again declining food prices so it's not really that food prices are going just up and up which is also a good thing because there is less starvation and less people die so when it comes to investing again it all boils down to value investing when you find in those cycles as you can see food prices go up and down so that reflects earnings and that reflects analysts and estimation over the next few years and when you can understand the cycle understand where the prices will be on average over the long term buy when everybody is pessimistic and sell all hold when everybody is optimistic then you make great returns and you can add great businesses to your portfolio but you have to be patient and patience is rewarding because you later see how those stock prices are also extremely volatile even if not much changes in the business let's just discuss bg stock is a food trader and processor grain soy corn with some other adjacent businesses and as many are waiting for a stock market crash to buy things on the cheap well you have one here bungee stock price is down 43 percent over the last five years it was 80 just a few years ago just a year ago and now it is 52 the business is 200 years old has been constantly rewarding investors over the last 10 years 50 percent of the current market cap has been returned to investors through buybacks the dividend is also constantly growing so it's dividend growth stock the business model is focused on increased volumes of food trade and processing so they expect to crush more soy and as food prices are volatile as volumes are volatile so is bg's cash flow too and we can see that when things are good they increase the repurchases and when things are not that good they cut on the repurchases and they deploy their cash flows in other places so a few years ago they did a lot of repurchases then nothing and prior to that again repurchases in the last two years they didn't do any repurchases but they constantly increase those dividends as the cash flows is there so a very interesting story on top of that there have been rumors that glancor or archer daniels midlands will acquire bg when the stock was 80 just a year ago and as this thing takes time perhaps it will push the stock price up in the short term but what i still have to do is compare with adm wilmar traded on the singapore stock exchange make models understand what can happen are we at the bottom and if we are at the bottom i might even buy because the downside will be limited the upside you never know so that's how i invest and you can expect more about more food stocks there are some other interesting that i already found i'll share with you my ideas what i found that perhaps you will find something interesting for you to conclude on the general food sector i think there is a long-term trend but i wouldn't i really need to focus on the business first and then if there is the positivity from the trend just accept it as a free gift because that's how value investing is you don't just invest in something because it will happen you look at the valuation you look at what am i buying now what will be the average business yield if things don't change or if things go to the worst you're looking for a margin of safety and only then you invest so keep watching subscribe there will be more stock analysis and i'm looking forward to your comments and i'll see you in the next video