The pending sale of a company that makes specialty valves used in America’s nuclear-powered submarines is raising concerns about consolidation in an already fragile sector of the defense industrial base.
The move comes as the U.S. and two of its closest allies clamor for more submarines, which they say are essential to keep pace with China.
“I’m concerned about this potential merger between two of America’s critical valve production companies,” Rep. Rob Wittman, R-Va., tweeted Wednesday. “At a time when we are expanding the submarine industrial base to meet future requirements, we need more information before deciding to support a valve consolidation proposal.”
Earlier this week, Circor International said it would sell itself to private equity firm KKR for $51 per share, rejecting a more lucrative $57 per share offer from another private equity firm, Arcline Investment Management, Reuters reported. Late Thursday, Circor said it had entered a definitive agreement with KKR, now for a higher $56 per share.
Arcline’s Fairbanks Morse Defense acquired Hunt Valve in 2021. Circor owns Portland Valve. But since Arcline offered more money, officials are worried Circor could change its mind and sell to them, thus consolidating the two valve companies under a single owner.
The submarine makers and their bespoke suppliers have been particularly stressed in recent years as they attempt to build two Virginia-class subs each year for the Navy. The pandemic threw a wrench in those efforts as companies have struggled to hire enough skilled welders, pipefitters and other specialists. Supply chain issues have also prompted the Biden administration to use the Defense Production Act to accelerate manufacturing of critical parts and meet the Navy’s demand.
The U.S. Navy is also buying new Columbia-class submarines, which carry nuclear missiles, to replace the aging Ohio-class. And the United States plans to sell three to five Virginia-class submarines to Australia in the coming years.
The valves made by Hunt and Portland are used to control the water flow into ballast tanks, which allow submarines to dive and surface, according to Mark Montgomery, a retired Navy rear admiral who is now a senior director and senior fellow at the Foundation for Defense of Democracies. The valves are also used in high-pressure air systems.
“We just have to be very careful here,” Montgomery said. “Do we have some kind of guarantee that both production lines will stay open—there will be no reduction in the STEM-qualified workforce associated with these workplaces?”
Any deal would be subject to a federal antitrust review.
“There’s … been a reckoning within the defense world about how wholesale consolidation of the defense industrial base is actually [leaving] us much less secure, and has serious national security implications,” Federal Trade Commission Chair Lina Khan said at a March conference.
When companies merge or are acquired, executives usually look for ways to be more efficient, which often leads to the elimination of redundant activities.
“Corporations don't get bonuses for wasting money, they get bonuses for saving money, and achieving efficiencies,” Montgomery said. “But the problem is one person's efficiency, there's another person's supply chain woe.”
The retired admiral pointed out that a fire at a U.S. black power factory in Louisiana has led to a shortage in the gunpowder used in military weapons.
“We know what happens when you get yourself down to one or two companies,” Montgomery. You create problems.”
WASHINGTON (AP) — The Biden administration’s special envoy for Iran has been placed on unpaid leave and had his security clearance suspended pending a review of allegations he may have mishandled classified information, U.S. officials said Thursday.
Rob Malley has led administration efforts to revive the faltering Iran nuclear deal and resolve issues related to detained Americans in Iran, but has not been active in his main job for weeks. He told colleagues he was taking extended personal leave for unspecified family reasons.
Two State Department officials said the agency’s Bureau of Diplomatic Security was leading the inquiry, which revolves around Malley’s handling of classified documents. The officials said they learned of Malley’s change in status from paid to unpaid leave on Thursday, shortly after questions about his status were raised at the State Department’s regular afternoon briefing.
A restorer in Iran is bringing back the Cadillac Sevilles once assembled in the country. The Seville represented the height of luxury in Iran just before the 1979 Islamic Revolution.
The president of the United Arab Emirates has met with Iran’s visiting foreign minister in the latest sign of improving relations between Arab Gulf countries and the Islamic Republic.
The daughter of a California-based man sentenced to death in Iran has asked authorities in Germany to open criminal proceedings against members of the Iranian judiciary.
Iranian state media says 10 people died after drinking home-made liquor made with methanol at a party.
The officials spoke on condition of anonymity due to privacy reasons.
Malley did not immediately respond to a query about the situation from The Associated Press but said in a short statement to several other news outlets that he had “been informed that my security clearance is under review.”
“I have not been provided any further information, but I expect the investigation to be resolved favorably and soon. In the meantime, I am on leave,” he said in that statement.
State Department spokesman Matthew Miller said earlier Thursday that Malley officially remains in his post but is on leave and that his deputy, Abram Paley, is currently leading the Iran portfolio as the acting special envoy.
Malley’s whereabouts have raised questions since he skipped a classified congressional briefing on Iran on May 16. At the time, State Department officials told lawmakers that Malley was on “extended personal leave” and suggested that his absence might be related to a family health issue.
Malley, a close personal friend of Secretary of State Antony Blinken, had worked for the International Crisis Group during the Trump administration. In that job he met on several occasions with Iranians and Palestinian officials with whom U.S. officials are barred from having contact.
During the Obama administration, Malley served as a National Security Council aide and was closely involved in the negotiations over the 2015 nuclear deal with Iran.
The housing market showed clear signs of slowing, according to new data released on Thursday.
Mortgage rates climbed this week after three weeks of declines, according to the latest survey from Freddie Mac. Separately, a report from the National Association of Realtors showed that pending home sales dropped much more than expected in May.
Rising mortgage rates
The 30-year fixed-rate mortgage averaged 6.71% in the week ending June 29, up from 6.67% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 5.70%.
Mortgage rates have remained over 5% for all but one week during the past year and even went as high as 7.08%, last reached in November.
“Despite affordability headwinds, homebuyers have adjusted and driven new home sales to its highest level in more than a year,” said Sam Khater, Freddie Mac’s chief economist. “New home sales have rebounded more robustly than the resale market due to a marginally greater supply of new construction. The improved demand has led to a firming of prices, which have now increased for several months in a row.”
The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. The survey includes only borrowers who put 20% down and have excellent credit.
The US housing market has been on a wild ride in the past two years: Home sales and prices soared in the recovery from the pandemic; but then as mortgage rates jumped, closings plummeted and prices started coming back to Earth.
Mortgage rates have ticked down in recent weeks, and the 30-year fixed-rate mortgage averaged 6.67% in the week ending June 22.
Pending home sales fall in May
US pending home sales dropped more than expected in May, according to data released Thursday by the National Association of Realtors.
The index shrank 2.7% from April, to 76.5 in May. Economists were expecting a drop of 0.5%, according to consensus estimates on Refinitiv.
The pending home sales index is a forward-looking indicator based on signed contracts to buy a home rather than final sales, which are accounted for in the existing home sales index.
With May’s tumble and a downward revision to April’s previously steady reading, the index has now declined for three consecutive months.
Year over year, pending transactions were down 22.2%. All four US regions saw year-over-year declines in transactions.
“Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” said NAR Chief Economist Lawrence Yun, “The lack of housing inventory continues to prevent housing demand from being fully realized.”
An index reading of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined by the NAR. By coincidence, the volume of existing home sales in 2001 fell between 5 million to 5.5 million, a range considered normal for the current US population.
Inflation remains the focus
Meanwhile, investors continued to take in Fed Chairman Powell’s comments on rate hikes.
“Two weeks ago, the Fed signaled that the projected policy rate would be 50 basis points higher than previously expected by the end of 2023, which is also half a point higher than the current rate,” said Jiayi Xu, an economist with Realtor.com. “Powell’s recent comments remarked that the very strong labor market is the main driver behind the Fed’s rate setting decisions and that there’s more restriction coming.”
While this may pose near-term upward pressure on interest rates, including for mortgage rates, she said, she expects a gradual decline that could bring rates near 6.0% by year-end.
The Fed does not set the interest rates that borrowers pay on mortgages directly, but its actions influence them. Mortgage rates tend to track the yield on 10-year US Treasuries, which move based on a combination of anticipation about the Fed’s actions, what the Fed actually does and investors’ reactions. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow.
Homebuyers face headwinds
As rates have cooled over the past couple weeks, applications for mortgages have gone up, according to Mortgage Bankers Association.
“Purchase applications increased for the third consecutive week to the highest level of activity since early May but remained more than 20% lower than year ago levels,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.
New home sales have been driving purchase activity in recent months as buyers look for alternatives to very low inventory of existing homes.
“Existing-home sales continued to be held back by a lack of for-sale inventory as many potential sellers are holding on to their lower-rate mortgages,” said Kan.
Even as rates have been trending lower the past few weeks, for much of May rates were climbing. This resulted in home buyer affordability worsening in May, according to MBA.
The national median monthly payment for purchase loan applicants increased 2.5% to $2,165 from $2,112 in April, the MBA found. It is up $268 from one year ago, a 14.1% increase.
In addition to still-high mortgage rates and housing prices, the shortage of housing supply has worsened the conditions faced by first-time home buyers, creating an especially challenging situation for those dreaming of homeownership.
“While smaller entry-level homes may not meet the criteria of a dream home, there is strong demand, but very few homes available that fit the bill,” said Xu. “Thankfully, builders are taking note of the market need and are making efforts to catch up to demand through new construction, especially of homes at lower price tiers.”
After dropping below 10% in 2022, the proportion of new homes sold that are priced under $300,000 is on an upward trajectory, Xu said.
Early estimates in May indicate that homes within this price range constituted approximately 17% of total sales, marking the highest share since December 2021, when the share was 18%.
“Despite this encouraging news, there remains an urgent need for more homes at the most affordable price points, where the shortage of available inventory is most severe,” said Xu.
WASHINGTON (June 29, 2023) – Pending home sales shrunk 2.7% in May from the previous month, according to the National Association of REALTORS®. Three U.S. regions posted monthly losses, while sales in the Northeast surged. All four regions saw year-over-year declines in transactions.
“Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing,” said NAR Chief Economist Lawrence Yun, “The lack of housing inventory continues to prevent housing demand from being fully realized.”
The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – dropped 2.7% to 76.5 in May. Year over year, pending transactions fell by 22.2%. An index of 100 is equal to the level of contract activity in 2001.
“It is encouraging that homebuilders have ramped up production, but the supply from new construction takes time and remains insufficient,” added Yun. “There should be more focus on boosting existing-home inventory with temporary tax incentive measures.”
Pending Home Sales Regional Breakdown
The Northeast PHSI climbed 12.9% from last month to 66.7, a decrease of 21.9% from May 2022. The Midwest index dropped 5.3% to 74.4 in May, down 23.5% from one year ago.
The South PHSI decreased 4.4% to 94.4 in May, reducing 19.6% from the prior year. The West index lessened 6.1% in May to 58.4, falling 26.6% from May 2022.
About the National Association of REALTORS®
The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.
# # #
*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.
The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.
An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.
NOTE: Existing-Home Sales for June will be reported on July 20. The next Pending Home Sales Index will be on July 27. All release times are 10 a.m. Eastern. View the NAR Statistical News Release Schedule.
The New Delhi Municipal Corporation (NDMC) is set to work the conservation and restoration of the main Gole Market building as a museum as well as the redevelopment of the surrounding area, which will include the construction of a service block and a subway. At a press conference on Tuesday, Kuljeet Singh Chahal, a member of the NDMC, informed media officials.
This will be first museum of NDMC with amenities such as digital panels, air conditioners, a food court, a subway and a mini-amphitheatre. The museum will house cultural and historical materials all related to Delhi. Gole Market is one of New Delhi’s oldest surviving colonial markets, built in 1921, is a heritage structure near Connaught Place. In 2007, it was declared dangerous and shopkeepers were evicted.
Due to various lawsuits, the project has been on hold for more than a decade since 2006. The site could not be handed over within the time limit set due to various court cases, and only façade renovations of adjoining blocks (Nirual Block and Emporia Block) were completed, according to Chahal in a statement.
Furthermore, Chahal stated that the council has already granted administrative approval and a budget of Rs 26,71,71,500, and that a tender will be issued soon and the project will be awarded to the lowest bidder.
The New Delhi Municipal Corporation (NDMC) is set to work the conservation and restoration of the main Gole Market building as a museum as well as the redevelopment of the surrounding area, which will include the construction of a service block and a subway. At a press conference on Tuesday, Kuljeet Singh Chahal, a member of the NDMC, informed media officials.
This will be first museum of NDMC with amenities such as digital panels, air conditioners, a food court, a subway and a mini-amphitheatre. The museum will house cultural and historical materials all related to Delhi. Gole Market is one of New Delhi’s oldest surviving colonial markets, built in 1921, is a heritage structure near Connaught Place. In 2007, it was declared dangerous and shopkeepers were evicted.
Due to various lawsuits, the project has been on hold for more than a decade since 2006. The site could not be handed over within the time limit set due to various court cases, and only façade renovations of adjoining blocks (Nirual Block and Emporia Block) were completed, according to Chahal in a statement.
Furthermore, Chahal stated that the council has already granted administrative approval and a budget of Rs 26,71,71,500, and that a tender will be issued soon and the project will be awarded to the lowest bidder.
All are pending unrestricted free agents and while their reasons for potentially wanting out (if the rumours are to be believed) are varied. However, it's also fair to say that if six UFAs very publicly want out in the space of about a year, there's a kind of ambient feeling that this is a dead-end organization in some ways.
Obviously, the club was caught with its pants down on the Gaudreau situation, and made the best of a bad situation
Arrangements are pending at Clark Family Funeral Chapel for a Mt. Pleasant woman who was killed early Saturday morning in a car-pedestrian accident.
Ashley Griffin-Denman died when she was hit by a car driven by a 19-year-old Mt. Pleasant man near West High and Henry streets at about 1:45 a.m. Saturday.
Mt. Pleasant Police officers were called to the scene of the accident and found Griffin-Denman, 31, died after being hit.
The driver of the car was not injured.
The investigation is ongoing and anyone with information is asked to contact the Mt. Pleasant Police Department tip line at 989-779-9111 or Isabella County Central Dispatch at 989-773-1000.
Michigan State Police from the Mt. Pleasant post, Isabella County Central Dispatch, Mobile Medical Response ambulance service, the Isabella County Medical Examiner’s Office and the Mt. Pleasant Fire Department assisted at the scene.
Ford Motor Co. on Monday informed certain salaried employees in the United States and Canada about a round of layoffs that will include engineering roles in both internal combustion engine vehicle and electric vehicle business units, The Detroit News has learned.
Employees were informed of the job cuts in small-group meetings Monday afternoon, according to people familiar with the matter. The cuts mark the latest effort by the Dearborn automaker to align skills and talent with different priorities and needs as it attempts to execute its growth plan and navigate the costly transition to electric, digitally-connected vehicles.
Employees included in this round of layoffs will be notified individually over the next couple of days. Ford's salaried workforce in divisions affected by the cuts were asked to work remotely through the rest of the week as the layoffs are being carried out.
The cuts will affect all three of Ford's business units: Ford Blue, which is focused on internal combustion engine and hybrid vehicles; Ford Model, which is dedicated to EVs and software; and Ford Pro, which serves as a sales and distribution unit for fleet customers. The cuts are focused, though not exclusively, on roles related to engineering; product development work for Ford Pro's vehicles is handled by the other two units.
Ford is investing $50 billion in electrification through 2026 as part of a growth plan dubbed Ford+. Under CEO Jim Farley, the company separated into the three business units that reflect different customer segments. By 2026, Ford aims to hit a companywide earnings margin of 10%, an 8% margin in its EV business, and to be producing 2 million EVs annually.
"With the Ford+ plan, we've characterized some new priorities and some very specific priorities and ambitions for the business," Ford spokesman T.R. Reid said. "That has implications for the skills that we require, and how they're deployed. We're going to manage the business accordingly, in a more ongoing way. The effect on some of our colleagues is unfortunate, but the approach generally is right and necessary."
Farley has repeatedly said publicly that the ongoing shift within the company will require realigning talent. Some longtime Ford employees, for example, moved over to the EV business unit alongside a score of new hires from Silicon Valley. At the same time, the company has undertaken previous rounds of job cuts, including some 3,000 positions in North America less than a year ago. Job cuts also are underway in Europe and China.
The cuts that were explained to employees Monday follow actions Ford took at the end of last week, when it alerted some salaried staff who are employed by outside agencies that their contracts were not being renewed.
Ford has declined to comment on the number of positions being cut.
Ford executives have said the company has a roughly $7 billion cost disadvantage compared to some of its competitors, a gap it has been working to address.
Meanwhile, other automakers also have taken actions to reduce their workforces amid the costly shift to electric vehicles and a murky macroeconomic outlook. About 5,000 salaried workers at General Motors Co., for example, signed up for buyouts earlier this year, averting layoffs. The Detroit automaker cut about 500 executive-level and salaried jobs as well.
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Charges are pending against a 44-year-old man who allegedly stabbed a woman during an argument Saturday night in the Loop.
The man approached the woman about 8 p.m. in the 1100 block of South Michigan Avenue and the two argued before he pulled out a “sharp object” and stabbed her in the chest, Chicago police said.
The woman, 26, was taken to Northwestern Memorial Hospital in critical condition.
The man ran off after the stabbing but was located by officers who placed him in custody, police said.
New Delhi:Thirteen Bills passed by the Tamil Nadu legislative assembly are pending before the state’s governor R.N. Ravi, contradicting his assertion last month that no Bills were pending his assent.
The state government’s law departmentconfirmedthe number of pending Bills on June 15 in response to a Right to Information (RTI) application filed by theHindu.
Two of these pending Bills date from the All India Anna Dravida Munnetra Kazhagam (AIADMK)’s tenure, which expired in 2021 following elections to the state legislature.
These Bills are the Tamil Nadu Fisheries University (Amendment) Bill, 2020 and the Tamil Nadu Veterinary and Animal Sciences University (Amendment) Bill, 2020.
Both sought to shift the power of ‘inspection’ from the governor in his/her capacity as chancellor of these universities to the state government, theHindureported.
Another one of the legislature’s pending Bills, the Tamil Nadu Universities Laws (Amendment) Bill, 2022, was passed by the current Dravida Munnetra Kazhagam (DMK)-led government in aneffort to wrest powerfrom the governor over the appointment of vice-chancellors to certain public universities in the state.
Ravi said in aninterviewto theTimes of Indiain May that “there [was] no bill pending before the Raj Bhavan or the governor”.
But Thangam Thennarasu, DMK MLA and minister in the Tamil Nadu government, responded to Ravi’s comments,sayingthat “in so far as the administration is concerned, [Ravi] has kept them pending without granting assent. That is it.”
“He cannot seek to move past it through a mere ‘word play’,” Thennarasu added according to theHindu.
Raj Bhavan in Chennai, which is the Tamil Nadu governor’s official residence. Photo: tnrajbhavan.gov.in
Governors are the constitutional and largely ceremonial heads of Indian states, and are appointed by the president on the prime minister’s advice.
Despite their ceremonial role, governors are vested with some important powers, including the ability to withhold assent to Bills passed by legislative assemblies and decide who will form the government in the event of a political crisis.
They are also known to overstep their mandate and act as functionaries of the Union government in states where opposition parties hold power.Some governors have publicly criticised state governments while others have refused to give assent to Bills, andsome observershave termed the office of the governor a “fifth wheel” or a “stormtrooper” of the Union government.
Ravi and the Tamil Nadu government – which is led by the DMK, an opponent of the BJP, the ruling party at the Union level – have had their share of tussles since the former took office in September 2021.
In November 2022, the ruling coalition in the state wrote to President Droupadi Murmuseeking Ravi’s removalas governor over comments he made as well as his delay in giving assent to Bills.
In January this year, Raviwalked outof the Tamil Nadu legislative assembly after Tamil Nadu chief minister M.K. Stalin objected to a speech Ravi delivered that deviated considerably from gubernatorial norms.
The assembly later passed a resolution condemning his conduct, following which Ravi gave his assent to a Bill that was pending before him for131 days.
CHICAGO -- A 32-year-old man was trying to turn his car left onto Natchez Avenue from 57th Street when he struck the bicyclist, a 68-year-old man.
A bicyclist was killed after being hit by a car Saturday night in Garfield Ridge on the Southwest Side.
The 68-year-old was biking around 11:30 p.m. in the 5600 block of South Natchez Avenue when the driver of a car tried to turn left onto Natchez Avenue from West 57th Street and struck him, Chicago police said.
The bicyclist was taken to Christ Medical Center in Oak Lawn, where he was pronounced dead, according to police.
Citations were pending against the driver, a 32-year-old man, police said.
Area One detectives are investigating.
Source: ( Sun-Times Media Wire - Copyright Chicago Sun-Times 2023.)
Nearly 75,000 asylum applications were filed across the European countries in April, taking the total number of applications to a record-breaking 687,000 pending applications, the European Union Agency for Asylum (EUAA) has revealed.
A recent analysis by the EUAA noted that since May 2022, the demand for asylum applications had been fueled by conflict, political and social situations, economic hardships and food insecurity, SchengenVisaInfo.com reports.
Germany was the leading recipient country of applications for asylum, especially those filed by Syrian and Afghan refugees, as 60 per cent of Syrians and half of Afghans filed for international protection in Germany.
While in April, the number of applications filed by Syrians reached 8,800, and Afghans submitted about 7,000 – 36 per cent more than in 2022. Turks follow third, with 4,700 applications filed – up by nearly two-thirds compared to April of last year, while more than half of all applications were lodged in Germany.
Syrians lodged the highest number of applications for international protection in October 2022 (18,219), while in May 2021, fewer applications were filed (6,015). Repeated applicants weren’t common during this period among Syrian applicants.
On the other hand, repeated applications filed by Afghan nationals were higher than other nationalities, with the highest number of applications recorded in September 2021 (3,602).
As per first-time applications, like Syrians, Afghan nationals filed the most applications in October 2022 – a total of 14,694.
As EUAA explains, the caseload is increasingly becoming heavier, as it surpassed 2017 levels when EU countries were still processing cases submitted during the so-called migration crisis of 2015-2016.
Syrians and Afghans, again, had the most cases pending, 85,000 and 71,000, respectively, while the caseload for these nationals increased by 26 per cent for Syrians and similar to 2022 levels for Afghanis.
Pending cases have also soared in 2023 for Columbians and Peruvians, mainly lodged in Spain, while Turks and Iranians lodged more applications in Germany and Egyptians in Italy.
“In the case of the Latin American nationalities, this is unrelated to irregular migration; but is due, in large part, to a persistent pattern of asylum applications being lodged by Venezuelans and Colombians, and to a lesser extent Peruvians, all of whom can enter the Schengen area without a visa,” EUAA explains.
On the other hand, recognition rates were considerably higher in April, reaching 42 per cent based on decisions granting either refugee status or protection, marking the highest level of recognition since June 2022.
The recognition rates range between nationalities but remain stable over time. In April 2023, Iranians continued to have a recognition rate of 48 per cent, while Bangladeshis were at four per cent and Pakistanis at ten per cent.
Is there trouble at the Lancaster Aquatic Center? SwimSwam, which covers competitive swimming, reports that University of Kentucky Swimming and Diving coach Lars Jorgensen has been suspended from the program since early May pending an investigation into potential NCAA compliance rules violations. One source told the outlet that the entire coaching staff was suspended for one week in May but all have returned except for associate head coach Michael Camper, who has resigned after five seasons.
Camper’s departure comes two years after he was promoted from assistant to associate head coach of the Wildcats. Prior to arriving at Kentucky in 2018, the Virginia native and former NC State standout served as an assistant at Pitt. Camper did not respond to SwimSwam’s requests for comment, but his LinkedIn profile indicates he recently took a new job outside of the swimming world as a territory manager for Gardner Inc., a lawn equipment distributor.
According to the source, Jorgensen was also suspended for Kentucky’s season opener vs. Texas A&M last November. Per the report, the team was not told of the issues with the staff until April 30, the day after the transfer portal closed for women’s swimmers, and each had to participate in interviews with Kentucky’s compliance department as part of the investigation. Kentucky did not respond to SwimSwam’s request for comment.
Jorgensen, who swam for Team USA in the 1998 Olympics in Seoul, just finished his 10th season as Kentucky’s Swimming and Diving Coach. In 2021, the women’s team won its first-ever SEC title, for which Jorgensen took home SEC Women’s Swimming Coach of the Year honors. Since Jorgensen took over in 2012, Kentucky has had nine straight Top 25 team finishes at the NCAA Championships, not including the canceled 2020 NCAA Championships.
For more, I’ll direct you to SwimSwam. The comments section is something else.
The 2023 unrestricted free-agent class lacks the sexy headliners from past years. Still, the group features several middle-of-the-lineup type players who can be valuable commodities if placed in the right role.
Age - listed as of July 1, when free agency opens - factored into the order. We're not ranking them on the players they used to be; we're ranking them on the players they project to be moving forward.
Patrice Bergeron and David Krejci were excluded from this list since they would both likely retire before playing for any NHL team outside of the Boston Bruins.
1. Dmitry Orlov
Position: LD Age: 31 Last team: Bruins 2022-23 cap hit: $5.1M
GP
G
A
ATOI
xGF%
66
7
29
22:33
53.24
Orlov played some of the best hockey of his career during his brief stint with the Bruins after the trade deadline. Whether he returns to Boston or not, he showed he still has lots left in the tank as a top-pairing defenseman.
2. Tyler Bertuzzi
Position: LW Age: 28 Last team: Bruins 2022-23 cap hit: $4.75M
GP
G
A
ATOI
xGF%
50
8
22
16:29
52.59
Bertuzzi is just one year removed from producing 30 goals and 62 points in 68 games, so he has plenty more to offer than he displayed in 2022-23. He thrived in the postseason despite Boston's early exit, tallying five goals and five assists in seven contests.
3. J.T. Compher
Position: C Age: 28 Last team: Avalanche 2022-23 cap hit: $3.5M
GP
G
A
ATOI
xGF%
82
17
35
20:32
52.47
Compher made the most of his big workload last season, registering a career-high 52 points while driving play at both ends of the ice. He's set to cash in as one of the few established centers in this class in a perennial center-needy league.
4. Tristan Jarry
Position: G Age: 28 Last team: Penguins 2022-23 cap hit: $3.5M
GP
GAA
SV%
SO
GSAx
47
2.90
.909
2
1.12
Jarry has been extremely consistent since establishing himself in the NHL over the last four seasons, making the ninth-most starts among goalies while posting a .915 save percentage.
5. Ryan O'Reilly
Claus Andersen / Getty Images
Position: C Age: 32 Last team: Maple Leafs 2022-23 cap hit: $7.5M
GP
G
A
ATOI
xGF%
53
16
14
17:56
52.02
O'Reilly may not be the Conn Smythe and Selke Trophy winner from 2019, but he can still play an extremely valuable role as a two-way middle-six center on a contender.
6. Ivan Barbashev
Position: LW Age: 27 Last team: Golden Knights 2022-23 cap hit: $2.25M
GP
G
A
ATOI
xGF%
82
16
29
16:45
45.59
Barbashev earned himself a lot of money with his exceptional postseason, recording 18 points in 22 games while being a physically-imposing beast.
7. Alex Killorn
Position: LW Age: 33 Last team: Lightning 2022-23 cap hit: $4.45M
GP
G
A
ATOI
xGF%
82
27
37
17:13
49.13
Killorn is aging like a fine wine, as he just set new personal bests for goals, assists, and points. He's also a strong two-way forward with a knack for getting under his opponent's skin.
8. Evan Rodrigues
Position: RW Age: 29 Last team: Avalanche 2022-23 cap hit: $2M
GP
G
A
ATOI
xGF%
69
16
23
17:51
54.1
Rodrigues has long been an analytics darling. But his strong underlying numbers finally translated to offensive production over the last couple of seasons, leading to a career-high 0.57 points-per-game mark in 2022-23. He's a quality second-line winger.
9. Ryan Graves
Position: LD Age: 28 Last team: Devils 2022-23 cap hit: $3.167M
GP
G
A
ATOI
xGF%
78
8
18
19:57
53.56
Graves moves pretty well for a player of his stature of 6-foot-5, 220 pounds. His underrated two-way game makes him a perfectly capable No. 4 defenseman.
10. Vladimir Tarasenko
Josh Lavallee / National Hockey League / Getty
Position: RW Age: 31 Last team: Rangers 2022-23 cap hit: $7.5M
GP
G
A
ATOI
xGF%
69
18
32
16:48
43.74
Tarasenko still has some game-breaking offensive ability in him, but he's become a defensive liability in recent years. Being on the wrong side of 30 with a lengthy injury history will raise red flags, too.
11. Michael Bunting
Position: LW Age: 27 Last team: Maple Leafs 2022-23 cap hit: $950K
GP
G
A
ATOI
xGF%
82
23
26
15:48
55.66
Bunting has the necessary hockey IQ, hands, and edge to his game to be a complementary top-six forward alongside two legitimate play drivers. But his lack of discipline can get him into trouble at times.
12. Jason Zucker
Position: LW Age: 31 Last team: Penguins 2022-23 cap hit: $5.5M
GP
G
A
ATOI
xGF%
78
27
21
15:39
57.06
Zucker's previous two campaigns were rough, but he picked the right time for a bounce-back season. He scored the second-most goals of his career in 2022-23 while bringing a new element of physicality to his game by racking up a personal-best 197 hits.
13. Adin Hill
Position: G Age: 27 Last team: Golden Knights 2022-23 cap hit: $2.175M
GP
GAA
SV%
SO
GSAx
27
2.45
.915
0
7.54
Hill has never played more than 27 games in a campaign. However, his spectacular performance during the Golden Knights' Stanley Cup run (.932 save percentage in 16 games) has certainly earned him a sizeable payday.
14. Joonas Korpisalo
Position: G Age: 29 Last team: Kings 2022-23 cap hit: $1.3M
GP
GAA
SV%
SO
GSAx
39
2.87
.914
1
16.72
Korpisalo has produced far more bad seasons than good ones in his eight-year NHL career, but he was downright superb in 2022-23.
15. Frederik Andersen
Richard T Gagnon / Getty Images Sport / Getty
Position: G Age: 33 Last team: Hurricanes 2022-23 cap hit: $4.5M
GP
GAA
SV%
SO
GSAx
34
2.48
.903
1
2.59
Anderson likely would've cashed in had he entered free agency after the 2021-22 campaign when he won the Jennings and finished fourth in Vezina Trophy voting. However, an inconsistent and injury-riddled campaign - a theme for him in recent years - will likely lead to a short-term commitment as a 1A or 1B option in a platoon.
16. Jordan Staal
Position: C Age: 34 Last team: Hurricanes 2022-23 cap hit: $6M
GP
G
A
ATOI
xGF%
81
17
17
16:16
58.63
Staal's 10-year contract has finally ended, but it's difficult to envision the Hurricanes captain leaving Carolina at this point in his career. He remains an excellent shutdown center, so there will be a market for his services.
17. Max Pacioretty
Position: LW Age: 34 Last team: Hurricanes 2022-23 cap hit: $7M
GP
G
A
ATOI
xGF%
39
19
18
17:23
54.03
*2021-22 stats
Pacioretty scored at a 40-goal pace the last time he was healthy. However, he was limited to five games in 2022-23 after tearing his Achilles twice in five months. It's hard to envision him being the same player after those two major injuries.
18. Patrick Kane
Position: RW Age: 34 Last team: Rangers 2022-23 cap hit: $10.5M
GP
G
A
ATOI
xGF%
73
21
36
19:19
39.52
Kane was given a four-to-six-month recovery timeline after undergoing hip resurfacing surgery in early June. Nicklas Backstrom underwent the same surgery last summer, and he looked like a shell of his former self this past season. Kane also has a lot of mileage on his tires, but the name value could still be tantalizing for some teams.
19. Scott Mayfield
Position: RD Age: 30 Last team: Islanders 2022-23 cap hit: $1.45M
GP
G
A
ATOI
xGF%
82
6
18
21:02
50.24
If the 6-foot-5, 220-pound Mayfield is paired with a strong skater and puck-mover, he can survive in a top-four role thanks to his size and defensive prowess.
20. Erik Haula
Rich Graessle / National Hockey League / Getty
Position: C Age: 32 Last team: Devils 2022-23 cap hit: $2.375M
GP
G
A
ATOI
xGF%
80
14
27
16:38
57.4
Haula is a perfectly capable third-line center who's trustworthy in his own end and can chip in offensively.
21. Tomas Tatar
Position: LW Age: 32 Last team: Devils 2022-23 cap hit: $4.5M
GP
G
A
ATOI
xGF%
82
20
28
15:07
62.79
Tatar can still thrive as a middle-six winger in an offensive role. His underlying numbers have remained excellent over the years.
22. Brian Dumoulin
Position: LD Age: 31 Last team: Penguins 2022-23 cap hit: $4.1M
GP
G
A
ATOI
xGF%
82
1
24
20:38
51.41
Dumoulin is still solid defensively, although he may benefit from a less demanding role at this point in his career.
23. Shayne Gostisbehere
Position: LD Age: 30 Last team: Hurricanes 2022-23 cap hit: $4.5M
GP
G
A
ATOI
xGF%
75
13
28
20:49
48.87
Gostisbehere moves the puck well and can quarterback a top power-play unit. If he's used properly in a sheltered, offensive role, he can shine.
24. Matt Dumba
Position: RD Age: 28 Last team: Wild 2022-23 cap hit: $6M
GP
G
A
ATOI
xGF%
79
4
10
21:17
48.52
Injuries have taken their toll on Dumba, and he's not the player he used to be. However, he still has a lot of heart and plays bigger than his 6-foot, 181-pound frame.
25. Max Domi
Steph Chambers / Getty Images Sport / Getty
Position: LW Age: 28 Last team: Stars 2022-23 cap hit: $3M
GP
G
A
ATOI
xGF%
80
20
36
17:46
43.22
Domi has been a defensive liability in recent years, but he's got an edge to his game and can create offense in a middle-six role.
26. John Klingberg
Position: RD Age: 30 Last team: Wild 2022-23 cap hit: $7M
GP
G
A
ATOI
xGF%
67
10
23
20:37
39.50
Klingberg is still gifted offensively and can run a power play. But he's a major defensive liability who needs to play sheltered minutes.
27. Connor Brown
Position: RW Age: 29 Last team: Capitals 2022-23 cap hit: $3.6M
GP
G
A
ATOI
xGF%
64
10
29
20:03
48.58
*2021-22 stats
A torn ACL in October limited Brown to just four games in 2022-23. When healthy, he's a hardworking two-way winger.
28. Radko Gudas
Position: RD Age: 33 Last team: Panthers 2022-23 cap hit: $2.5M
GP
G
A
ATOI
xGF%
72
2
15
17:22
56.91
Gudas is as mean and nasty as they come, making him a perfect third-pairing defenseman for a team looking to make a deep playoff run. He's underrated analytically, too.
29. Luke Schenn
Position: RD Age: 33 Last team: Maple Leafs 2022-23 cap hit: $850K
GP
G
A
ATOI
xGF%
70
4
18
16:21
45.28
Schenn was a solid safety valve for Quinn Hughes in Vancouver, and he performed even better in that role with Morgan Rielly in Toronto during the playoffs. He can thrive if he's paired with a premier puck-mover, though his minutes must be limited.
30. Jonathan Drouin
Minas Panagiotakis / Getty Images Sport / Getty
Position: LW Age: 28 Last team: Canadiens 2022-23 cap hit: $5.5M
GP
G
A
ATOI
xGF%
58
2
27
14:54
43.93
Drouin is in dire need of a fresh start after a turbulent ending to his tenure in Montreal. A deft playmaker, he could be motivated to produce on a one-year, prove-it deal.
31. Semyon Varlamov
Position: G Age: 35 Last team: Islanders 2022-23 cap hit: $5M
GP
GAA
SV%
SO
GSAx
23
2.70
.913
2
7.75
Varlamov can still be the 1B in a platoon goalie setup or an overqualified veteran backup.
32. Antti Raanta
Position: G Age: 34 Last team: Hurricanes 2022-23 cap hit: $2M
GP
GAA
SV%
SO
GSAx
27
2.23
.910
4
5.48
When healthy, Raanta is an excellent veteran backup netminder.
33. Carson Soucy
Position: LD Age: 28 Last team: Kraken 2022-23 cap hit: $2.75M
GP
G
A
ATOI
xGF%
78
3
13
16:18
51.36
A solid third-pairing defender who brings size (6-foot-5, 208 pounds), grit (143 hits), and the ability to play both sides.
34. Alexander Kerfoot
Position: LW Age: 28 Last team: Maple Leafs 2022-23 cap hit: $3.5M
GP
G
A
ATOI
xGF%
82
10
22
14:37
52.92
Kerfoot is a good defensive forward who can play center in a pinch but is best suited on the wing. His biggest flaw is his lack of finishing ability.
35. Pierre Engvall
Jaylynn Nash / Getty Images Sport / Getty
Position: LW Age: 27 Last team: Islanders 2022-23 cap hit: $2.25M
GP
G
A
ATOI
xGF%
76
17
13
13:38
55.57
Engvall is 6-foot-5 and skates like the wind. However, his lack of intensity and physicality can frustrate coaches and fans alike.
36. Jesper Fast
Position: RW Age: 31 Last team: Hurricanes 2022-23 cap hit: $2M
GP
G
A
ATOI
xGF%
80
10
19
14:44
58.69
Fast lives up to his name, using his speed to serve as an effective, checking-line winger.
37. Evgenii Dadonov
Position: RW Age: 34 Last team: Stars 2022-23 cap hit: $5M
GP
G
A
ATOI
xGF%
73
7
26
14:43
49.36
Dadonov salvaged a poor regular season with a strong playoff run, racking up four goals and six assists in 16 postseason games.
38. Conor Sheary
Position: LW Age: 31 Last team: Capitals 2022-23 cap hit: $1.5M
GP
G
A
ATOI
xGF%
82
15
22
15:46
49.87
Sheary consistently bags 15-20 goals per season and is reliable enough defensively to play up and down the lineup.
39. Gustav Nyquist
Position: RW Age: 33 Last team: Wild 2022-23 cap hit: $5.5M
GP
G
A
ATOI
xGF%
51
11
16
17:37
46.54
Nyquist had a strong postseason, recording five assists in six games. He showed he can still produce if deployed in a sheltered, middle-six role.
40. Noel Acciari
Mike Ehrmann / Getty Images Sport / Getty
Position: RW Age: 31 Last team: Maple Leafs 2022-23 cap hit: $1.25M
GP
G
A
ATOI
xGF%
77
14
9
14:19
49.34
Acciari knows his role and plays it to perfection. He's a heart-and-soul player who hits everything in sight and will block any shot.
41. Garnet Hathaway
Position: RW Age: 31 Last team: Bruins 2022-23 cap hit: $1.5M
GP
G
A
ATOI
xGF%
84
13
9
11:48
50.01
Hathaway is extremely physical, excellent defensively, and can occasionally chip in with a goal, making him an ideal bottom-six winger.
42. David Kampf
Position: C Age: 28 Last team: Maple Leafs 2022-23 cap hit: $1.5M
GP
G
A
ATOI
xGF%
82
7
20
15:18
48.77
Kampf is best suited in a fourth-line center role, although he can be a 3C if necessary. He won't generate much offense, but he can soak up tough defensive minutes.
43. Erik Gustafsson
Position: LD Age: 31 Last team: Maple Leafs 2022-23 cap hit: $800K
GP
G
A
ATOI
xGF%
70
7
35
19:46
52.99
Gustafsson's playing time was drastically reduced after a deadline trade to the Maple Leafs, with Toronto making him a healthy scratch in nine of 11 playoff games. But he still excels at moving the puck and quarterbacking a power play.
44. Oliver Ekman-Larsson
Position: LD Age: 31 Last team: Canucks 2022-23 cap hit: $8.25M
GP
G
A
ATOI
xGF%
54
2
20
20:11
45.24
Ekman-Larsson was a serviceable top-four blue-liner during his first season in Vancouver, but he fell off a cliff this past year. There's no question that injuries contributed to his decline. If Ekman-Larsson's fully healthy, he's an interesting buy-low option considering he'll be playing without the pressure of a mammoth contract.
45. Pius Suter
Darcy Finley / National Hockey League / Getty
Position: LW Age: 27 Last team: Red Wings 2022-23 cap hit: $3.25M
GP
G
A
ATOI
xGF%
79
14
10
14:04
47.31
Suter posted great defensive metrics last season - both at even strength and the penalty kill - and has shown he can pot around 15 goals per year.
46. Miles Wood
Position: LW Age: 27 Last team: Devils 2022-23 cap hit: $3.2M
GP
G
A
ATOI
xGF%
76
13
14
12:06
49.85
A physical, north-south winger with some goal-scoring upside, Wood is an intriguing flier - even if his underlying numbers are suspect.
47. James van Riemsdyk
Position: LW Age: 34 Last team: Flyers 2022-23 cap hit: $7M
GP
G
A
ATOI
xGF%
61
12
17
15:21
53.3
Van Riemsdyk has slowed down with age. However, he can still find ways to score with his good hands around the net.
48. Cam Talbot
Position: G Age: 35 Last team: Senators 2022-23 cap hit: $3.67M
GP
GAA
SV%
SO
GSAx
36
2.93
.898
1
0.3
Talbot didn't play well in 2022-23. But his save percentage never dipped below .911 in the three seasons prior, suggesting he still has value as a backup.
49. Justin Holl
Position: RD Age: 31 Last team: Maple Leafs 2022-23 cap hit: $2M
GP
G
A
ATOI
xGF%
80
2
16
20:14
52.95
Holl took a lot of heat in Toronto, though he's a serviceable third-pairing defenseman who excels on the penalty kill.
50. Connor Clifton
Position: RD Age: 28 Last team: Bruins 2022-23 cap hit: $1M
GP
G
A
ATOI
xGF%
78
5
18
17:51
49.6
Clifton is hitting free agency at the right time, as he's coming off a season in which he set career highs in games, points, hits (208), and blocks (120).
