Group 1: Financing and Investment - Oak Hill Advisors (OHA) acted as the Administrative Agent and Lead Left Arranger for a private unitranche facility supporting FloWorks, which is a portfolio company of Wynnchurch Capital [1] - The financing will be utilized to refinance FloWorks' existing debt and to support future acquisitions [1] - OHA is the largest holder in the new financing facility, indicating a significant commitment to FloWorks [1] Group 2: Company Overview - FloWorks is a leading specialty distributor of critical flow control products and provides tailored technical solutions for MRO-focused applications, serving various industrial end markets [6] - The company offers a range of products including valves & automation, corrosion resistant flow control, rotating equipment, flanges, filters & purifiers, and instrumentation [6] Group 3: OHA's Expertise and Strategy - OHA's existing knowledge of the flow control distributor industry, gained through investments in similar companies, enabled it to provide constructive feedback and take a leadership role in the refinancing solution [2] - OHA has over 30 years of investment experience and manages approximately $71 billion of capital across various credit strategies as of September 30, 2024 [4] - The firm emphasizes long-term partnerships, allowing for customized credit solutions across market cycles [4] Group 4: Wynnchurch Overview - Wynnchurch is a leading middle-market private equity investment firm with $9.2 billion of regulatory assets under management, focusing on companies with substantial growth potential [7] - The firm specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs, and restructurings [7]

Advertisement The New York Times and other newspapers are in a legal battle with OpenAI over using their content.Lawyers for the newspapers are searching OpenAI's training data as part of a discovering process.OpenAI accidentally just deleted all the lawyer's work.An unusual setback has happened in a lawsuit against OpenAI: the company just deleted a bunch of work by the lawyers representing its opposition. The lawsuit was filed by a group of news organizations including The New York Times and The Chicago ...

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The union representing tech workers at the New York Times on Monday ended its strike — launched days before Election Day — without securing a new contract.The Tech Guild, which represents some 600 software engineers and programmers at the Gray Lady’s digital platforms, returned to work on Tuesday morning without management having met their demands for higher wages and job protections.However, union leaders declared victory in the labor dispute. 4 Tech workers at the New York Times ended their week-long st ...

New York Times tech workers are ending their strike after a weeklong stoppage.The strike threatened to disrupt election coverage but had limited impact on the Times' operations.The Tech Guild, formed in 2021, represents 600-plus engineers. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're o ...

Dozens of New York Times tech workers crossed the picket line amid a tech strike.The Tech Guild is striking over remote work, pay equity, and subcontracting limits.The work stoppage threatened to disrupt operations during an expected election traffic surge. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized f ...

The New York Times Company (NYT) continued its decent performance in the third quarter of 2024. The company's adjusted earnings per share were 45 cents, which surpassed the Zacks Consensus Estimate of 42 cents. The figure marked an increase from the year-ago adjusted earnings of 37 cents. Total revenues of $640.2 million were in line with the Zacks Consensus Estimate of $640 million and increased 7% year over year. See the Zacks Earnings Calendar to stay ahead of market-making news.NYT added approximately 2 ...

The CEO of AI search company Perplexity, Aravind Srinivas, has offered to cross picket lines and provide services to mitigate the effect of a strike by New York Times tech workers.The NYT Tech Guild announced its strike Monday, after setting November 4 as its deadline months earlier. The workers represented provide software support and data analysis for the Times, on the business side of the outlet. They have been asking for an annual 2.5% wage increase and to cement a current two days per week in-office ex ...

The CEO of AI search company Perplexity, Aravind Srinivas, has offered to cross a virtual picket line and provide services during a strike by New York Times tech workers.The NYT Tech Guild announced its strike Monday, after setting November 4 as its deadline months earlier. The workers represented provide software support and data analysis for the Times, on the business side of the outlet. They have been asking for an annual 2.5% wage increase and to cement a current two days per week in-office expectation, ...

Core Viewpoint - The New York Times' tech workers have initiated a strike, potentially disrupting operations during a critical election period, as they seek better working conditions and pay equity [2][4][6]. Group 1: Strike Details - The Tech Guild, representing software developers and data analysts, is picketing outside the Times' headquarters and has requested the public to avoid using certain digital services during the strike [3][4]. - The strike could create a divide between tech workers and other newsroom employees, who are concerned about the impact on the Times' ability to manage increased election-related traffic [4][5]. Group 2: Management Response - Times management claims to have made a strong offer, with total compensation for tech workers averaging $190,000, which is $40,000 more than that of journalists in the Times Guild [6]. - The Times emphasizes its commitment to fulfilling its public service mission and has plans in place to ensure operational continuity during the strike [6]. Group 3: Negotiation Background - The Tech Guild, formed in 2021, has been negotiating with management since 2022 and consists of 600 members, including various tech roles [6]. - The Times Co. chairman has indicated that the strike may persist at least through the election, suggesting a prolonged negotiation process [7].