City of Cape Coral working on project to address canal safetyCollier County mental health center receives $4 million donation
CAPE CORAL City of Cape Coral working on project to address canal safety An older Cape Coral couple drove into a canal last year. Neighbors are now saying something needs to be done about canal safety.
NAPLES Collier County mental health center receives $4 million donation A giant donation is dedicated to providing people with better mental health care in southwest Florida.
LABELLE City of LaBelle under precautionary boil water notice A water main break has the City of Labelle under a precautionary boil water notice.
ESTERO FGCU student wins ice dancing national championship FGCU sophomore Lucas Appel wins his second US Senior Solo Dance National Championship in three years.
Lee County Sheriff’s Office: Parent brings weapon to Lehigh Acres school According to a Lee County Sheriff’s Office report, there is probable cause to believe a woman unintentionally brought a firearm to school.
SOUTHWEST FLORIDA Most Wanted Wednesday: Southwest Florida’s most wanted suspects for December 11, 2024 Here are some of Southwest Florida’s most wanted suspects for Wednesday, December 11, 2024.
Second leading cause of chest pain The leading cause of cardiac chest pain is coronary artery disease, which affects over 18 million adults in the United States.
Vicky Bakery opens 26th location, first in Fort Myers A Fort Myers location just opened at 4429 Cleveland Ave., at El Dorado Plaza, just east of the Ginza sushi restaurant.
WINK News’ Matt Devitt, officials address resident flooding concerns In a slide presentation, WINK News Chief Meteorologist Matt Devitt showed surrounding coastal counties have the sensors that are installed and monitored by the National Oceanic and Atmospheric Administration.
FORT MYERS RSW offering remote parking for the holidays Southwest Florida International Airport, RSW, is offering passengers RSWRemote, a reserved holiday parking option.
Lee County man found guilty of manslaughter A 47-year-old man from Lee County has been found guilty of manslaughter after stabbing his neighbor multiple times in 2022.
SNIP Collier volunteer traps her 1000th feral cat A Spay and Neuter Initiative Program has reached a milestone as a Collier County volunteer has captured 1,000 feral cats.
SAINT JAMES CITY Saint James City man sentenced to 5 years for possessing child sexual abuse material A St. James City man has been sentenced to five years for possessing images and videos depicting the sexual abuse of children.
CAPE CORAL Sword-wielding Cape Coral man accused of threatening person with Molotov Cocktail The Cape Coral Police Department arrested a man who allegedly threatened another person with a sword and Molotov Cocktail.
PORT CHARLOTTE Tampa Bay Rays announces spring training season in Port Charlotte The Tampa Bay Rays have announced spring training ticket information for the 2025 spring season in Port Charlotte.
CAPE CORAL City of Cape Coral working on project to address canal safety An older Cape Coral couple drove into a canal last year. Neighbors are now saying something needs to be done about canal safety.
NAPLES Collier County mental health center receives $4 million donation A giant donation is dedicated to providing people with better mental health care in southwest Florida.
LABELLE City of LaBelle under precautionary boil water notice A water main break has the City of Labelle under a precautionary boil water notice.
ESTERO FGCU student wins ice dancing national championship FGCU sophomore Lucas Appel wins his second US Senior Solo Dance National Championship in three years.
Lee County Sheriff’s Office: Parent brings weapon to Lehigh Acres school According to a Lee County Sheriff’s Office report, there is probable cause to believe a woman unintentionally brought a firearm to school.
SOUTHWEST FLORIDA Most Wanted Wednesday: Southwest Florida’s most wanted suspects for December 11, 2024 Here are some of Southwest Florida’s most wanted suspects for Wednesday, December 11, 2024.
Second leading cause of chest pain The leading cause of cardiac chest pain is coronary artery disease, which affects over 18 million adults in the United States.
Vicky Bakery opens 26th location, first in Fort Myers A Fort Myers location just opened at 4429 Cleveland Ave., at El Dorado Plaza, just east of the Ginza sushi restaurant.
WINK News’ Matt Devitt, officials address resident flooding concerns In a slide presentation, WINK News Chief Meteorologist Matt Devitt showed surrounding coastal counties have the sensors that are installed and monitored by the National Oceanic and Atmospheric Administration.
FORT MYERS RSW offering remote parking for the holidays Southwest Florida International Airport, RSW, is offering passengers RSWRemote, a reserved holiday parking option.
Lee County man found guilty of manslaughter A 47-year-old man from Lee County has been found guilty of manslaughter after stabbing his neighbor multiple times in 2022.
SNIP Collier volunteer traps her 1000th feral cat A Spay and Neuter Initiative Program has reached a milestone as a Collier County volunteer has captured 1,000 feral cats.
SAINT JAMES CITY Saint James City man sentenced to 5 years for possessing child sexual abuse material A St. James City man has been sentenced to five years for possessing images and videos depicting the sexual abuse of children.
CAPE CORAL Sword-wielding Cape Coral man accused of threatening person with Molotov Cocktail The Cape Coral Police Department arrested a man who allegedly threatened another person with a sword and Molotov Cocktail.
PORT CHARLOTTE Tampa Bay Rays announces spring training season in Port Charlotte The Tampa Bay Rays have announced spring training ticket information for the 2025 spring season in Port Charlotte.
FILE – Peloton CEO John Foley celebrates at the Nasdaq MarketSite before the opening bell and his company’s IPO, Sept. 26, 2019 in New York. Activist investor Blackwells Capital is asking Peloton to remove CEO John Foley and consider selling the company just a few days after a media report said the exercise and treadmill company was temporarily halting production of its connected fitness products amid waning consumer demand. (AP Photo/Mark Lennihan, file) The co-founder of Peloton is stepping down as chief executive after an extended streak of tumult at the interactive exercise bike and treadmill company, which will also cut almost 3,000 jobs. John Foley first pitched the idea for Peloton in 2011, hoping to disrupt the industry. He will give up the CEO position and become executive chair at Peloton Interactive Inc. Barry McCarthy, who served as CFO at Spotify as well as at Netflix, will take over as CEO, the company said Tuesday. Shares surged more than 16% in morning trading on Tuesday. Peloton has been on a wild ride for the past two years during the pandemic. Company shares surged more than 400% in 2020 amid COVID-19 lockdowns that included gyms. Nearly all of those gains were wiped out last year as the distribution of vaccines sent many people out of there homes and back into gyms. This week, there were reports that Amazon or Nike might buy the company and those that have pushed for the sale of Peloton continued to do so this week. Activist investor Blackwells Capital asked again for the company to be sold Tuesday despite the change in leadership. Blackwells sent a presentation to Peloton on Monday outlining “the mismanagement of the company by John Foley, the poor governance and board composition and the rationale for immediately commencing a sale process.” In addition to the leadership shakeup, Peloton announced Tuesday that it was cutting 2,800 jobs, including approximately 20% of corporate jobs at the New York City company. The instructors who lead interactive classes for Peloton will not be included in cuts, nor will the content that the company relies on to lure users. Peloton said its winding down the development of its Peloton Output Park in Ohio. It will also reduce its owned and operated warehousing and delivery locations and will instead ramp up its third-party relationships. Peloton is looking to reduce its planned capital expenditures for this year by about $150 million. The restructuring program is expected to result in approximately $130 million in cash charges related to severance and other exit and restructuring activities and $80 million in non-cash charges. The majority of the charges will be recorded in fiscal 2022. The company also slashed its full-year sales outlook and now expects a range of $3.7 billion to $3.8 billion. That’s down from a prior range of $4.4 billion to $4.8 billion, which it announced last November. It originally had expected $5.4 billion. Peloton reported a net loss of $439.4 million, or $1.39 per share for its fiscal second quarter, which ended Dec. 31,2021, compared with net income of $63.6 million, or 18 cents a share, a year earlier. Total revenue increased more than 6% to $1.13 billion. Analysts had expected $1.24 per share on sales of $1.14 billion, according to FactSet. In a conference call with analysts, Foley acknowledged that mistakes had been made and that the company invested too quickly. “We own it. I own it and we are holding ourselves accountable,” Foley said. “That starts today.” The company anticipates at least $800 million in annual cost savings once its actions are fully implemented. Wall Street took the shakeup Tuesday as a pivotal moment for Peloton, including the odds of a sale. “We believe Foley leaving makes it more likely that Peloton ultimately sells the company and the board clearly has major decisions to make in the days/weeks/months ahead,” wrote Wedbush analysts Daniel Ives and John Katsingris. But a sale is not assured. “I think the moves, as a whole, do not signify that Peloton is throwing in the towel. I believe this means they are going to slim down, refocus, and stay independent. Investment from outside firms should be on their agenda but not a sale,” said Raj Shah, North America lead for tech, media, and telecom at digital consulting firm Publicis Sapient. That uncertainty sent shares of Peloton tumbling 7% seconds after the leadership change was announced, with many believing the odds of a sale had diminished. By the opening bell, however, the company’s shares were rising, with many pointing to McCarthy’s background in finance and the potential for a deal. “Promoting Barry McCarthy with his eye on the financials makes sense — he’s the type who can objectively look at Peloton’s operations and choose where to invest and where to cut,” said Timothy Hubbard, assistant professor of management at the University of Notre Dame’s Mendoza College of Business.