SAN FRANCISCO (KGO) – San Francisco is still recovering from the pandemic the slowest of all major US cities. Thirty-four percent of downtown office space is now vacant. At the same time, there is not enough housing in the city. Could some of this vacant office space be converted into much-needed housing?

San Francisco is in a constant battle with itself: too much commercial space, but not enough housing.

“In many cases, it is cheaper to remodel one of these buildings than to build new,” says Marc Babsin, head of Emerald Fund, a real estate development company based in San Francisco.

That's what Mayor London Breed wants to hear.

She is convinced that the “coming together” of the two, like a marriage, could contribute to the revitalization of the city center.

“We will continue to adapt, we will adjust and we will get better,” Breed stressed.

The key word is “conversions”. This has been done before.

VIDEO: The story of vacant land on SF's Nob Hill could help explain the city's ongoing housing crisis

The story of a decades-vacant lot on San Francisco's Nob Hill may help explain the city's ongoing housing crisis, SF Standard reports.

In 2006, the Royal Insurance Building on the corner of Sansome and Pine Streets, across from the old Pacific Stock Exchange, was converted from office space into 46 condominiums.

The 52-unit Ritz-Carlton building on Market Street was once the headquarters of the San Francisco Chronicle.

And in the 1930s, AP Giannini had a branch of the Bank of Italy, which later became the Bank of America, which lent Walt Disney the money to complete his first feature film, Snow White, and later for other projects.

This building, One Powell Street, was converted into 44 high-end lofts in 2004.

We know it's possible, but what does it take to convert commercial space into residential units? The answer: It's not that simple.

MORE: New renderings of controversial 50-story skyscraper for SF's Outer Sunset District revealed

Strachan Forgan knows a lot about conversions.

His firm, Solomon Cordwell Buenz, was responsible for the largest office-to-residential conversion in San Francisco's history: 100 Van Ness, a 29-story building that now houses 418 rental units.

100 Van Ness was the old AAA building.

100 Van Ness, the former AAA building, was converted into residential units.

“The biggest change we made to the building was to remove the old precast concrete facade and replace it with floor-to-ceiling glass facades to really exploit the building’s view potential,” explained Forgan.

In many interior renovation projects, plumbing installation is one of the biggest challenges.

“This means we have to cut new vertical risers throughout the building,” Forgan explained.

This means that holes have to be drilled through the concrete.

Each unit must now have its own piping, sprinkler heads, thermostat, heating and ventilation, and lighting.

“Light, air and natural light in the residential units is a big deal,” said Joseph Camajani of engineering consulting firm IMEG. “Many of these offices are very large and deep, and it's difficult to get natural light into the bedroom units.”

For IMEG, a floor-to-ceiling glass façade was ideal.

VIDEO: SF sues Chinatown hotel owners offering single rooms over health and safety risks

One tenant reports that there is an ongoing rat and cockroach problem, the ceiling leaks and she has no hot water. But lawyers are convinced that the city attorney's lawsuit will change everything.

ABC7 asked: When will you decide to tear down the building and rebuild from scratch?

“I think some buildings have reached the end of their useful life and the best use of the property might be to build new buildings there,” Forgan said.

He is currently reviewing 15 possible redevelopments in San Francisco, but only three to five are potential candidates.

The other challenge is dealing with the planning department.

Because the city was determined to make 100 Van Ness a success, approvals were expedited.

The property was purchased in 2011 and was ready for occupancy just four years later.

VIDEO: City investigates SF pods used by tech workers as low-cost housing

Investigators from the city of San Francisco are currently examining the Mint Plaza residential complex.

Other conversions have also proven extremely profitable, such as the conversion of the former University of the Pacific dental school at 2121 Webster Street in Pacific Heights.

It came on the market in 2016 and the sale of the 76 condominiums is said to have brought in $300 million.

But that was then. Today, in 2023, conversions may be less profitable.

“Construction costs have probably doubled compared to last year and rents have now fallen so much that they are barely above the 2012 level,” reveals Babsin.

In addition, when 100 Van Ness was built, the city required owners to set aside 13 percent of the units for affordable housing; today, that number is 21 percent.

Any developer, architect or engineer will tell you that City Hall needs to create more incentives to make these conversions more realistic.

“We have a huge inventory of buildings that could be good enough and could serve the people who need them,” Camajani said.

If you use the ABC7 News app, click here to watch live

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The post San Francisco offers with The Challenges of Changing Workplace Area into Residential Items appeared first on Los Gatos News And Events.

Nine states have signed a joint agreement to accelerate the transition to residential electrification by significantly expanding the use of heat pumps to meet heating, cooling and hot water needs.

The memorandum of understanding was signed by environmental agency directors from California, Colorado, Maine, Maryland, Massachusetts, New Jersey, New York, Oregon and Rhode Island. These states have set a common goal of heat pumps meeting at least 65% of residential HVAC and water heating needs by 2030 and 90% by 2040.

Participating states will work together to collect market data, track progress and develop an action plan to support the goals within one year. The agreement emphasizes collaboration with key stakeholders, including heat pump manufacturers and HVAC installers.

States also committed to promoting the installation of zero-emission, grid-interactive technologies in existing state buildings. States aim to ensure that at least 40% of efficiency and electrification investments benefit low-income households.

The post 9 states pledge to transition to warmth pumps for residential HVAC and water heating appeared first on Los Gatos News And Events.

SAN FRANCISCO–(BUSINESS WIRE)–The holidays are all about celebrating traditions with family and friends. Between choosing the right gifts and preparing delicious meals, you have plenty on your plate. Ensuring that you and your loved ones are safe can be an additional stress. Today, Thumbtack, the app used by millions of homeowners across the country to care for their homes, unveiled a new “Holiday Fire Prevention Checklist” that allows homeowners to check their home’s fire risk, and seamlessly book a home service professional to help prevent fires before they happen.

“We recently found that 75 percent of people know someone who has had a house fire, and the majority occurred over the holiday season. Yet, homeowners are reluctant to admit they themselves are at risk of a home fire — with only 1 in 5 stating they believe their own personal risk of a fire is high,” said David Steckel, Thumbtack’s Home Expert. “In order to ensure this holiday season is full of joy and celebration with friends and family, we want to help homeowners understand the causes of house fires — and take action to prevent them. Our goal is to give homeowners peace of mind so they can enjoy their holiday festivities.”

The “Holiday Fire Prevention Checklist” highlights the top projects homeowners should tackle before the holidays, which have the highest risk of starting a fire if left unaddressed, including:

• Hang holiday lights (hire a pro): A professional installer can take this festive (but time-consuming) task off your hands — and ensure you’re not overloading your circuits.

• Sweep chimney (hire a pro): Annual inspections and cleanings are a must to minimize fire hazards, manage creosote buildup, and prevent gas leaks.

  • Maintain gas fireplace (hire a pro): These fireplaces need regular maintenance too — connections can corrode over time, leading to potential gas leaks.

• Test smoke and carbon monoxide alarms (DIY): Working alarms are crucial. Testing yearly and replacing every 7 years is the best way to make sure you’re protected.

• Clean dryer vents (hire a pro): Lint buildup causes about 3,000 house fires yearly. Cleaning your dryer’s exhaust pipe can help prevent a fire and improve efficiency.

• Inspect fire extinguishers (DIY): Always keep a working dry chemical fire extinguisher (the dial should be in the “green region”) easily accessible and near the kitchen.

• Trim trees (hire a pro): Keeping your trees trimmed prolongs the life of your roof, cuts down on potential fire hazards, and can prevent wildlife from moving in.

• Deep clean gas range (DIY or hire a pro): Built-up grease can be a big fire hazard — especially with a gas range. Be sure to clean it out every 3-6 months.

• Ensure space heaters are not a hazard (DIY): Only run space heaters in a clear, hazard-free space — and never overnight.

• Do an electrical check (hire a pro): Prevent fire hazards by having a pro check your property (inside and out) for faulty electrical wiring and overloaded circuits.

• Maintain Christmas tree (DIY): Make sure to water your tree, unplug it at night, or set a timer to avoid fires — artificial trees are also a great alternative.

In addition to creating a resource hub for homeowners, from December 1 – December 9, 2022, Thumbtack will also be offering consumers $50 off* their next home project so they can prevent fires this holiday season — from hiring a chimney pro to booking a home inspection, and more (terms and conditions apply).

Visit www.thumbtack.com/content/fire-prevention to learn more about potential fire hazards this holiday season, to see how your home ranks on the safety scale, and to book a pro to ensure you’re ready to tackle the holiday season — worry free.

About Thumbtack

Thumbtack is a technology leader building the modern home management platform. Through the Thumbtack app, homeowners can effortlessly manage their homes — confidently knowing what to do, when to do it, and who to hire. Bringing the $600 billion home services industry online, Thumbtack empowers millions of homeowners to fix, maintain, and improve their most valuable asset. Hundreds of thousands of local service professionals, from painters and plumbers to photographers and more, use the Thumbtack platform to grow their businesses each year. The company is backed by Sequoia Capital, Tiger Global Management, Javelin Venture Partners, Baillie Gifford, and CapitalG, among others.

*Terms and conditions: Thumbtack users may receive $50 off one project, from December 1, 2022 through December 9, 2022. This offer is limited to the first 2,000 users to redeem the discount. Discounts only apply to projects that cost $50 or more (before tax and tip), booked and paid for through Thumbtack. Not all Service Professionals accept payment through Thumbtack. Make sure you check with your Service Professional to confirm they accept payment through Thumbtack before hiring them. The discount will be automatically applied at checkout.

Discounts cannot be stacked (in other words, only one discount can be used per booking), and discounts are for one-time use only. On-Demand bookings (sometimes referred to as “Pro matched by Thumbtack”) are not eligible for discounts. Learn more about On Demand bookings. Discounts are subject to the terms outlined in our Terms of Use.

The post ADDING MULTIMEDIA Thumbtack Creates New “Vacation Hearth Prevention Guidelines” to Assist Owners Get Forward of Peak Residential Hearth Season appeared first on Los Gatos News And Events.

New survey finds 75 percent of homeowners know someone who has had a house fire, and the majority (57 percent) occurred during the holidays

SAN FRANCISCO, December 01, 2022–(BUSINESS WIRE)–The holidays are all about celebrating traditions with family and friends. Between choosing the right gifts and preparing delicious meals, you have plenty on your plate. Ensuring that you and your loved ones are safe can be an additional stress. Today, Thumbtack, the app used by millions of homeowners across the country to care for their homes, unveiled a new “Holiday Fire Prevention Checklist” that allows homeowners to check their home’s fire risk, and seamlessly book a home service professional to help prevent fires before they happen.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221201005163/en/

Thumbtack unveils new “Holiday Fire Prevention Checklist” (Graphic: Business Wire)

“We recently found that 75 percent of people know someone who has had a house fire, and the majority occurred over the holiday season. Yet, homeowners are reluctant to admit they themselves are at risk of a home fire — with only 1 in 5 stating they believe their own personal risk of a fire is high,” said David Steckel, Thumbtack’s Home Expert. “In order to ensure this holiday season is full of joy and celebration with friends and family, we want to help homeowners understand the causes of house fires — and take action to prevent them. Our goal is to give homeowners peace of mind so they can enjoy their holiday festivities.”

The “Holiday Fire Prevention Checklist” highlights the top projects homeowners should tackle before the holidays, which have the highest risk of starting a fire if left unaddressed, including:

• Hang holiday lights (hire a pro): A professional installer can take this festive (but time-consuming) task off your hands — and ensure you’re not overloading your circuits.

• Sweep chimney (hire a pro): Annual inspections and cleanings are a must to minimize fire hazards, manage creosote buildup, and prevent gas leaks.

• Test smoke and carbon monoxide alarms (DIY): Working alarms are crucial. Testing yearly and replacing every 7 years is the best way to make sure you’re protected.

• Clean dryer vents (hire a pro): Lint buildup causes about 3,000 house fires yearly. Cleaning your dryer’s exhaust pipe can help prevent a fire and improve efficiency.

• Inspect fire extinguishers (DIY): Always keep a working dry chemical fire extinguisher (the dial should be in the “green region”) easily accessible and near the kitchen.

• Trim trees (hire a pro): Keeping your trees trimmed prolongs the life of your roof, cuts down on potential fire hazards, and can prevent wildlife from moving in.

• Deep clean gas range (DIY or hire a pro): Built-up grease can be a big fire hazard — especially with a gas range. Be sure to clean it out every 3-6 months.

• Ensure space heaters are not a hazard (DIY): Only run space heaters in a clear, hazard-free space — and never overnight.

• Do an electrical check (hire a pro): Prevent fire hazards by having a pro check your property (inside and out) for faulty electrical wiring and overloaded circuits.

• Maintain Christmas tree (DIY): Make sure to water your tree, unplug it at night, or set a timer to avoid fires — artificial trees are also a great alternative.

Story continues

In addition to creating a resource hub for homeowners, from December 1 – December 9, 2022, Thumbtack will also be offering consumers $50 off* their next home project so they can prevent fires this holiday season — from hiring a chimney pro to booking a home inspection, and more (terms and conditions apply).

Visit www.thumbtack.com/content/fire-prevention to learn more about potential fire hazards this holiday season, to see how your home ranks on the safety scale, and to book a pro to ensure you’re ready to tackle the holiday season — worry free.

About Thumbtack

Thumbtack is a technology leader building the modern home management platform. Through the Thumbtack app, homeowners can effortlessly manage their homes — confidently knowing what to do, when to do it, and who to hire. Bringing the $600 billion home services industry online, Thumbtack empowers millions of homeowners to fix, maintain, and improve their most valuable asset. Hundreds of thousands of local service professionals, from painters and plumbers to photographers and more, use the Thumbtack platform to grow their businesses each year. The company is backed by Sequoia Capital, Tiger Global Management, Javelin Venture Partners, Baillie Gifford, and CapitalG, among others.

*Terms and conditions: Thumbtack users may receive $50 off one project, from December 1, 2022 through December 9, 2022. This offer is limited to the first 2,000 users to redeem the discount. Discounts only apply to projects that cost $50 or more (before tax and tip), booked and paid for through Thumbtack. Not all Service Professionals accept payment through Thumbtack. Make sure you check with your Service Professional to confirm they accept payment through Thumbtack before hiring them. The discount will be automatically applied at checkout.

Discounts cannot be stacked (in other words, only one discount can be used per booking), and discounts are for one-time use only. On-Demand bookings (sometimes referred to as “Pro matched by Thumbtack”) are not eligible for discounts. Learn more about On Demand bookings. Discounts are subject to the terms outlined in our Terms of Use.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221201005163/en/

Contacts

Laura Arrubla Toro
press@thumbtack.com

The post ADDING MULTIMEDIA Thumbtack Creates New “Vacation Hearth Prevention Guidelines” to Assist Owners Get Forward of Peak Residential Hearth Season appeared first on Los Gatos News And Events.

SAN FRANCISCO–(BUSINESS WIRE)–The holidays are all about celebrating traditions with family and friends. Between choosing the right gifts and preparing delicious meals, you have plenty on your plate. Ensuring that you and your loved ones are safe can be an additional stress. Today, Thumbtack, the app used by millions of homeowners across the country to care for their homes, unveiled a new “Holiday Fire Prevention Checklist” that allows homeowners to check their home’s fire risk, and seamlessly book a home service professional to help prevent fires before they happen.

“We recently found that 75 percent of people know someone who has had a house fire, and the majority occurred over the holiday season. Yet, homeowners are reluctant to admit they themselves are at risk of a home fire — with only 1 in 5 stating they believe their own personal risk of a fire is high,” said David Steckel, Thumbtack’s Home Expert. “In order to ensure this holiday season is full of joy and celebration with friends and family, we want to help homeowners understand the causes of house fires — and take action to prevent them. Our goal is to give homeowners peace of mind so they can enjoy their holiday festivities.”

The “Holiday Fire Prevention Checklist” highlights the top projects homeowners should tackle before the holidays, which have the highest risk of starting a fire if left unaddressed, including:

• Hang holiday lights (hire a pro): A professional installer can take this festive (but time-consuming) task off your hands — and ensure you’re not overloading your circuits.

• Sweep chimney (hire a pro): Annual inspections and cleanings are a must to minimize fire hazards, manage creosote buildup, and prevent gas leaks.

  • Maintain gas fireplace (hire a pro): These fireplaces need regular maintenance too — connections can corrode over time, leading to potential gas leaks.

• Test smoke and carbon monoxide alarms (DIY): Working alarms are crucial. Testing yearly and replacing every 7 years is the best way to make sure you’re protected.

• Clean dryer vents (hire a pro): Lint buildup causes about 3,000 house fires yearly. Cleaning your dryer’s exhaust pipe can help prevent a fire and improve efficiency.

• Inspect fire extinguishers (DIY): Always keep a working dry chemical fire extinguisher (the dial should be in the “green region”) easily accessible and near the kitchen.

• Trim trees (hire a pro): Keeping your trees trimmed prolongs the life of your roof, cuts down on potential fire hazards, and can prevent wildlife from moving in.

• Deep clean gas range (DIY or hire a pro): Built-up grease can be a big fire hazard — especially with a gas range. Be sure to clean it out every 3-6 months.

• Ensure space heaters are not a hazard (DIY): Only run space heaters in a clear, hazard-free space — and never overnight.

• Do an electrical check (hire a pro): Prevent fire hazards by having a pro check your property (inside and out) for faulty electrical wiring and overloaded circuits.

• Maintain Christmas tree (DIY): Make sure to water your tree, unplug it at night, or set a timer to avoid fires — artificial trees are also a great alternative.

In addition to creating a resource hub for homeowners, from December 1 – December 9, 2022, Thumbtack will also be offering consumers $50 off* their next home project so they can prevent fires this holiday season — from hiring a chimney pro to booking a home inspection, and more (terms and conditions apply).

Visit www.thumbtack.com/content/fire-prevention to learn more about potential fire hazards this holiday season, to see how your home ranks on the safety scale, and to book a pro to ensure you’re ready to tackle the holiday season — worry free.

About Thumbtack

Thumbtack is a technology leader building the modern home management platform. Through the Thumbtack app, homeowners can effortlessly manage their homes — confidently knowing what to do, when to do it, and who to hire. Bringing the $600 billion home services industry online, Thumbtack empowers millions of homeowners to fix, maintain, and improve their most valuable asset. Hundreds of thousands of local service professionals, from painters and plumbers to photographers and more, use the Thumbtack platform to grow their businesses each year. The company is backed by Sequoia Capital, Tiger Global Management, Javelin Venture Partners, Baillie Gifford, and CapitalG, among others.

*Terms and conditions: Thumbtack users may receive $50 off one project, from December 1, 2022 through December 9, 2022. This offer is limited to the first 2,000 users to redeem the discount. Discounts only apply to projects that cost $50 or more (before tax and tip), booked and paid for through Thumbtack. Not all Service Professionals accept payment through Thumbtack. Make sure you check with your Service Professional to confirm they accept payment through Thumbtack before hiring them. The discount will be automatically applied at checkout.

Discounts cannot be stacked (in other words, only one discount can be used per booking), and discounts are for one-time use only. On-Demand bookings (sometimes referred to as “Pro matched by Thumbtack”) are not eligible for discounts. Learn more about On Demand bookings. Discounts are subject to the terms outlined in our Terms of Use.

The post Thumbtack Creates New “Vacation Hearth Prevention Guidelines” to Assist Owners Get Forward of Peak Residential Hearth Season appeared first on Los Gatos News And Events.

Investment Supports McWilliams & Son’s Rapid Expansion Through Organic Growth and Strategic Acquisitions in the Growing, Resilient and Highly Fragmented Residential Services Market

SAN FRANCISCO other LUFKIN, Texas, Aug 15, 2022 /PRNewswire/ — Percheron Capital (“Percheron”), a private equity firm focused on partnering with high-quality essential services businesses, announced today that it has signed a definitive agreement to acquire a majority stake in McWilliams & Son (“McWilliams” or the “Company”), a leading residential HVAC and plumbing services platform. Following the transaction, McWilliams’ Chief Executive Officer, Trey McWilliams, will remain a significant investor and continue to lead the Company. Terms of the transaction were not disclosed.

Founded in 1974 in Texas by the McWilliams family, McWilliams & Son offers residential HVAC and plumbing maintenance, repair and replacement services with a reputation for outstanding quality and customer service. The Company’s people-first values ​​focused on service, trust and reliability have resulted in industry-leading customer satisfaction scores and consistent growth for over 45 years. McWilliams’ commitment to providing advanced training programs, innovative technology and equipment to its technicians has made the company an employer of choice in the markets it operates.

Under Trey McWilliams’ Leadership, the Company has successfully expanded its reach through strong organic growth, new branch openings and acquisitions of high-quality, partnership-focused residential HVAC and plumbing businesses. With Percheron’s strategic support and operational resources, McWilliams is well-positioned to further accelerate its growth in new and existing markets.

Trey McWilliams said, “I am proud of our exceptional team and the strong business we have built together. We attribute our success to our people-centric approach and unwavering commitment to our customers, team members and community. Percheron embodies our values ​​and brings significant experience and I am excited about the significant opportunities our partnership with Percheron creates for our team members as we continue executing on our vision of building the premier provider of residential HVAC and plumbing services in the country .”

Chris LawlerCo-Founder and Managing Partner of Percheron, commented, “The residential HVAC and plumbing services market has been a thematic investment priority for Percheron given the industry’s large size, non-discretionary services, strong and resilient growth and high fragmentation. We are thrilled to partner with Trey McWilliams and his team, who have built a rare platform with best-in-class operational and performance metrics, including leading customer service scores, technician productivity and retention. The Company is supported by advanced technology, systems and processes, and has a strong track record of growth through both organic initiatives and strategic acquisitions. We look forward to leveraging Percheron’s deep operational capabilities to support the next phase of McWilliams’ rapid growth.”

About McWilliams & Son

McWilliams & Son is a leading HVAC and plumbing services business founded in 1974 in Texas by the McWilliams family. For over 45 years, McWilliams & Son has proudly served customers with a reputation for outstanding quality and customer service. A hometown company with hometown values, McWilliams & Son puts its customers, employees and community first. McWilliams & Son invests heavily in its team members, including providing industry-leading training programs and advanced technology and equipment, to enable team members to achieve their full potential and better serve our valued customers. For more information, please visit www.mcwilliamsandson.com.

About Percheron Capital

Percheron Capital is a private equity firm focused on partnering with exceptional teams to build market-leading services businesses. The firm’s purpose is to help high-quality businesses accelerate growth and enhance long-term value. Percheron has over $1 billion in assets under management and focuses on investing in strong services businesses in resilient end markets, including animal health, automotive, education, food & beverage, healthcare & wellness, and residential. For more information, please visit www.percheroncapital.com.

Media Contacts

Woomi Yun / Eric Carlson
Joele FrankWilkinson Brimmer Katcher
(212) 355-4449

SOURCE Percheron Capital

The post Percheron Capital Declares Partnership with McWilliams & Son, a Main Supplier of Residential HVAC and Plumbing Providers appeared first on Los Gatos News And Events.

July 20, 2022

By Gabe Rodriguez Morrison

Tesla CEO Elon Musk says the company is interested in making its own HVAC system for homes. “It’s on the future product list,” says Elon.

Tesla is known for having remarkable air quality inside their electric vehicles. They went as far as integrating large HEPA filters into most of their models, which Tesla calls Bioweapon Defense Mode.

The HEPA filter removes 99.97% of dust, pollen, mold, bacteria, and any airborne particles with a size of 0.3 microns (µm). The filter is adapted into an efficient HVAC system to prevent decreasing the vehicle’s range.

Last year, when Tesla announced a software update to make the Model S HVAC system quieter, Elon was asked about Tesla making a home HVAC system, to which he replied:

“Oh man, home HVAC that is super energy efficient, quiet & purifies the air would be great. We developed it for the car, but it can be scaled up for home use.”

Residential HVAC is a product that Elon has been talking about for years and really wants Tesla to manufacture in the future. More recently Elon said that it is on Tesla’s list of future products.

It’s on the future product list. Especially important in places like Austin, which has next-level amounts of pollen in the air.

— Elon Musk (@elonmusk) July 18, 2022

Back in 2020, Elon Musk spoke about his desire to create a “super efficient” HVAC system for homes.

HVAC and AI seem to be two areas that interest Elon. Last year Elon said that Tesla would look into adding an AI-based HVAC system into their vehicles (and now possibly into homes).

The system could take environmental readings into account such as the air quality in the area, whether the car is in stop-and-go traffic, and automatically control car features that would improve the air quality inside the car.

The car could automatically enable air circulation or even turn on Bioweapon Defense Mode.

Tesla is working on many other projects right now and the HVAC is not in an advanced stage of development yet. It is unknown when Tesla will officially unveil an HVAC system but this news confirms that the HVAC system is in fact on a “list of products” and can be expected in the distant future.

I’m dying to do super efficient, quiet home HVAC with HEPA & water distillation. It’s weird, but I really want to do it.

— Elon Musk (@elonmusk) April 23, 2020

November 4, 2022

By Lennon Cihak

Tesla’s bringing its collection of revolutionary electric vehicles to the Petersen Automotive Museum in Los Angeles.

The exhibit, dubbed “Inside Tesla: Supercharging the Electric Revolution,” will offer an in-depth look at the past, present, and future of the electric vehicle revolution. It will also showcase Tesla’s history, from its early and rough beginnings to the present global leader in EVs.

The exhibit will feature the most comprehensive collection of Tesla’s products to date. From early prototypes of the Model 3 from 2016 to the 2012 Model X prototype, as well as Tesla’s 1 millionth vehicle ever produced, these rare vehicles will be on display.

In addition to the vehicles, there will be information about the products and software that powers each car. Information about Tesla’s energy ecosystem, manufacturing automation, autopilot, and full self-driving expertise will be on full display. Attendees will also get an inside look at projects from SpaceX, The Boring Company, and Hyperloop.

“Tesla has revolutionized the automotive, EV, technology, and manufacturing spaces within a relatively short time span, begetting the question, ‘How did they do that?’” Terry L. Karges, Petersen Automotive Museum’s Executive Director, says in a press release shared with Not a Tesla App. “This exhibit strives to be a holistic walk-through of how the brand became a global phenomenon and further details what lies ahead.”

“Inside Tesla: Supercharging the Electric Revolution” will be open to the public on November 20 in the Mullin Family Grand Salon and Phillip Sarofim Porte Cochere on the museum’s first floor. The exhibit will be open until October 22, 2023.

For more information and how to purchase tickets, visit the Petersen Automotive Museum’s website.

November 4, 2022

By Gabe Rodriguez Morrison

The Financial Times recently reported that Tesla had talks with Glencore about taking a stake in the Swiss mining giant. It seems that Tesla and Glencore held some sort of discussions starting as early as last year. Discussions apparently continued until March this year when Glencore’s chief executive Gary Eagle visited Tesla’s Fremont Factory.

According to the FT, Tesla supposedly planned to buy a minority equity stake of 10% to 20% in Glencore but both parties were unable to reach an agreement. Tesla had concerns about Glencore’s coal mining business which conflicted with the EV manufacturer’s environmental goals.

However, at an investor’s conference today in New York, Tesla’s CEO Elon Musk said that Tesla “never contemplated investing in Glencore.” It’s not clear what led the FT to think that Tesla was considering investing in Glencore, but there may have been conversations between Tesla and Glencore as Tesla tries to secure mining materials.

Glencore does plan to align itself with the objectives of the Paris Agreement, reaching net-zero emissions by 2050 and shrinking its coal portfolio over time.

Glencore is the world’s largest trading house and producer of cobalt in the Democratic Republic of Congo, Australia, and Canada. A few years ago, Tesla secured a cobalt offtake agreement with the Swiss mining giant for Giga Shanghai and Giga Berlin.

Will Tesla invest in mining?

Although talks between Tesla and Glencore did not lead to Tesla considering an investment in the mining giant, the discussions hint that Tesla is interested in what’s happening in the mining industry.

Elon has said in the past that he prefers not to enter the mining industry, although Tesla will if they have to. Mining could become more of a constraint as Tesla increases vehicle production and scales the 4680 battery assembly line.

At the Q3 2022 earnings call, Elon was asked about vertically integrating into mining, and he responded:

“We’ll do whatever we have to. Whatever the limiting factor is, we’ll do. We do not artificially constrain ourselves. We don’t vertically integrate just for the hell of vertically integrating,” Elon Musk replied to Jonas.

“Like if there was a great supplier who’s better than us or we think is at least very good, or even where the economics of comparative advantage suggests that we should use that supplier, even if we could beat them, but we could use our resources to do something else that will be more productive, then we would in source in that case. But if we have to go mine, we will mine,” Musk explained.

The rise of EVs has caused many carmakers to become more involved in the mining industry to secure raw materials such as cobalt, lithium and nickel that are needed to manufacture batteries.

These types of discussions will likely continue as the need for such raw materials increases. It is possible that Tesla’s Master Plan Part 3 will involve the acquisition of a mining company so that Tesla can “scale to extreme size to shift humanity away from fossil fuels.”

The post Tesla to work on residential HVAC techniques with Bioweapon Protection Mode appeared first on Los Gatos News And Events.

Investment Supports McWilliams & Son’s Rapid Expansion Through Organic Growth and Strategic Acquisitions in the Growing, Resilient and Highly Fragmented Residential Services Market

SAN FRANCISCO other LUFKIN, Texas, Aug 15, 2022 /PRNewswire/ — Percheron Capital (“Percheron”), a private equity firm focused on partnering with high-quality essential services businesses, announced today that it has signed a definitive agreement to acquire a majority stake in McWilliams & Son (“McWilliams” or the “Company”), a leading residential HVAC and plumbing services platform. Following the transaction, McWilliams’ Chief Executive Officer, Trey McWilliams, will remain a significant investor and continue to lead the Company. Terms of the transaction were not disclosed.

Founded in 1974 in Texas by the McWilliams family, McWilliams & Son offers residential HVAC and plumbing maintenance, repair and replacement services with a reputation for outstanding quality and customer service. The Company’s people-first values ​​focused on service, trust and reliability have resulted in industry-leading customer satisfaction scores and consistent growth for over 45 years. McWilliams’ commitment to providing advanced training programs, innovative technology and equipment to its technicians has made the company an employer of choice in the markets it operates.

Under Trey McWilliams’ Leadership, the Company has successfully expanded its reach through strong organic growth, new branch openings and acquisitions of high-quality, partnership-focused residential HVAC and plumbing businesses. With Percheron’s strategic support and operational resources, McWilliams is well-positioned to further accelerate its growth in new and existing markets.

Trey McWilliams said, “I am proud of our exceptional team and the strong business we have built together. We attribute our success to our people-centric approach and unwavering commitment to our customers, team members and community. Percheron embodies our values ​​and brings significant experience and I am excited about the significant opportunities our partnership with Percheron creates for our team members as we continue executing on our vision of building the premier provider of residential HVAC and plumbing services in the country .”

Story continues

Chris LawlerCo-Founder and Managing Partner of Percheron, commented, “The residential HVAC and plumbing services market has been a thematic investment priority for Percheron given the industry’s large size, non-discretionary services, strong and resilient growth and high fragmentation. We are thrilled to partner with Trey McWilliams and his team, who have built a rare platform with best-in-class operational and performance metrics, including leading customer service scores, technician productivity and retention. The Company is supported by advanced technology, systems and processes, and has a strong track record of growth through both organic initiatives and strategic acquisitions. We look forward to leveraging Percheron’s deep operational capabilities to support the next phase of McWilliams’ rapid growth.”

About McWilliams & Son

McWilliams & Son is a leading HVAC and plumbing services business founded in 1974 in Texas by the McWilliams family. For over 45 years, McWilliams & Son has proudly served customers with a reputation for outstanding quality and customer service. A hometown company with hometown values, McWilliams & Son puts its customers, employees and community first. McWilliams & Son invests heavily in its team members, including providing industry-leading training programs and advanced technology and equipment, to enable team members to achieve their full potential and better serve our valued customers. For more information, please visit www.mcwilliamsandson.com.

About Percheron Capital

Percheron Capital is a private equity firm focused on partnering with exceptional teams to build market-leading services businesses. The firm’s purpose is to help high-quality businesses accelerate growth and enhance long-term value. Percheron has over $1 billion in assets under management and focuses on investing in strong services businesses in resilient end markets, including animal health, automotive, education, food & beverage, healthcare & wellness, and residential. For more information, please visit www.percheroncapital.com.

Media Contacts

Woomi Yun / Eric Carlson
Joele FrankWilkinson Brimmer Katcher
(212) 355-4449

surgery

View original content:https://www.prnewswire.com/news-releases/percheron-capital-announces-partnership-with-mcwilliams–son-a-leading-provider-of-residential-hvac-and-plumbing-services -301605461.html

SOURCE Percheron Capital

The post Percheron Capital Declares Partnership with McWilliams & Son, a Main Supplier of Residential HVAC and Plumbing Companies appeared first on Los Gatos News And Events.

Investment Supports McWilliams & Son’s Rapid Expansion Through Organic Growth and Strategic Acquisitions in the Growing, Resilient and Highly Fragmented Residential Services Market

SAN FRANCISCO other LUFKIN, Texas, Aug 15, 2022 /PRNewswire/ — Percheron Capital (“Percheron”), a private equity firm focused on partnering with high-quality essential services businesses, announced today that it has signed a definitive agreement to acquire a majority stake in McWilliams & Son (“McWilliams” or the “Company”), a leading residential HVAC and plumbing services platform. Following the transaction, McWilliams’ Chief Executive Officer, Trey McWilliams, will remain a significant investor and continue to lead the Company. Terms of the transaction were not disclosed.

Founded in 1974 in Texas by the McWilliams family, McWilliams & Son offers residential HVAC and plumbing maintenance, repair and replacement services with a reputation for outstanding quality and customer service. The Company’s people-first values ​​focused on service, trust and reliability have resulted in industry-leading customer satisfaction scores and consistent growth for over 45 years. McWilliams’ commitment to providing advanced training programs, innovative technology and equipment to its technicians has made the company an employer of choice in the markets it operates.

Under Trey McWilliams’ Leadership, the Company has successfully expanded its reach through strong organic growth, new branch openings and acquisitions of high-quality, partnership-focused residential HVAC and plumbing businesses. With Percheron’s strategic support and operational resources, McWilliams is well-positioned to further accelerate its growth in new and existing markets.

Trey McWilliams said, “I am proud of our exceptional team and the strong business we have built together. We attribute our success to our people-centric approach and unwavering commitment to our customers, team members and community. Percheron embodies our values ​​and brings significant experience and I am excited about the significant opportunities our partnership with Percheron creates for our team members as we continue executing on our vision of building the premier provider of residential HVAC and plumbing services in the country .”

Story continues

Chris LawlerCo-Founder and Managing Partner of Percheron, commented, “The residential HVAC and plumbing services market has been a thematic investment priority for Percheron given the industry’s large size, non-discretionary services, strong and resilient growth and high fragmentation. We are thrilled to partner with Trey McWilliams and his team, who have built a rare platform with best-in-class operational and performance metrics, including leading customer service scores, technician productivity and retention. The Company is supported by advanced technology, systems and processes, and has a strong track record of growth through both organic initiatives and strategic acquisitions. We look forward to leveraging Percheron’s deep operational capabilities to support the next phase of McWilliams’ rapid growth.”

About McWilliams & Son

McWilliams & Son is a leading HVAC and plumbing services business founded in 1974 in Texas by the McWilliams family. For over 45 years, McWilliams & Son has proudly served customers with a reputation for outstanding quality and customer service. A hometown company with hometown values, McWilliams & Son puts its customers, employees and community first. McWilliams & Son invests heavily in its team members, including providing industry-leading training programs and advanced technology and equipment, to enable team members to achieve their full potential and better serve our valued customers. For more information, please visit www.mcwilliamsandson.com.

About Percheron Capital

Percheron Capital is a private equity firm focused on partnering with exceptional teams to build market-leading services businesses. The firm’s purpose is to help high-quality businesses accelerate growth and enhance long-term value. Percheron has over $1 billion in assets under management and focuses on investing in strong services businesses in resilient end markets, including animal health, automotive, education, food & beverage, healthcare & wellness, and residential. For more information, please visit www.percheroncapital.com.

Media Contacts

Woomi Yun / Eric Carlson
Joele FrankWilkinson Brimmer Katcher
(212) 355-4449

surgery

View original content:https://www.prnewswire.com/news-releases/percheron-capital-announces-partnership-with-mcwilliams–son-a-leading-provider-of-residential-hvac-and-plumbing-services -301605461.html

SOURCE Percheron Capital

The post Percheron Capital Declares Partnership with McWilliams & Son, a Main Supplier of Residential HVAC and Plumbing Companies appeared first on Los Gatos News And Events.

US economic conditions are shutting the door on the red-hot residential real estate market in the North Bay, with increasing interest rates contributing to May’s double-digit percentage drop in the region’s home sales, according to the California Association of Realtors.

And this may be just the start of a changing real estate market, thanks in part to interest rates that have doubled since the start of the year.

“The industry was caught very blindsided by that, because all of the mortgage-lending industry and most economists expected mortgage rates to remain in the (3% range) all during this year,” said Nevin Miller, president and CEO of San Rafael- based Pinnacle Loans, which serves Marin, Sonoma, Napa and Solano counties, as well as Southern California. “For them to go from 3% to 6% is a shock to the market.”

The current market still favors sellers, he noted, but that doesn’t mean they aren’t reacting, even with all-time low inventory.

“Sellers who have now got a ton of equity because homes have appreciated so much are rushing to put their home on the market before the market changes, which it is doing now,” Miller said.

In the North Bay, year-over-year property sales in May were down in several counties, according to the agent association. Sonoma County home sales dropped by 22.8% to 385 homes sold; Napa County 12.1% to 102 homes; and Marin County, 10.1% to 178 homes, CAR reported. Solano County sales, however, rose 5.8% to 328 homes sold in May.

This wasn’t surprising to CAR Deputy Chief Economist Oscar Wei, who noted that Solano is the most affordable county in the Bay Area and North Bay.

Insights and cash

In Sonoma Valley, while large overbids on homes have not been unusual, with three-quarters of offers coming in all-cash, the buying frenzy reached out to traditionally more affordable areas of the county, said Duane Margreiter, sales manager for Century 21 NorthBay Alliance in Sonoma. One of his properties was a $1 million home in Windsor, where overbids had previously gone as high as asking $25,000 over, and that property sold for $75,000 over.

“We’re seeing a shift in the market,” Margreiter said. “Buyers are taking a different look. They’re realizing that they do not need to put in an offer on the first thing they see.”

While the rise in interest rates is likely to initially price out first-time homebuyers, overall it likely will result in a shift to a more balanced market, rather than a crash like in 2005 to 2012, when the Great Recession had a wave of foreclosures , Margreiter said.

Patricia Oxman, a 30-year real estate veteran and top producer for Golden Gate Sotheby’s International Realty, said the Marin County market data she tracks suggests local entry-level buyers have already pulled back so far this year, but higher-priced homes continue to be selling.

Sales of single-family homes in Marin County are down 17%, with 1,120 changing hands so far this year, compared with 1,346 in the same time frame last year. Home sales under $1 million have dropped to 72 from 145 a year ago. Sales of mid-range homes ($2 million to $4 million) moved down to 48% of all sales from 54% last year, while top-end homes (over $4 million) now make up 46% of sales, up from 34% a year ago.

“The luxury market is still strong because buyers pulled money out in anticipation of the purchase, and 28% of our sales are all cash,” Oxman said.

Gerrett Snedaker, broker and partner with Better Homes and Gardens Real Estate-Wine Country Group, said he’s seen “a decrease in multiple offers and selling homes in excess of asking prices.” The firm has multiple offices in Napa, Sonoma and Mendocino counties.

In May, 16% of homes in the three counties sold at reduced prices, and by late June that proportion is 19%, in line with the level from a year before, according to Snedaker. And the share of homes selling for over the asking price was 55% in May, 44% through late June and 52% a year before.

Market influences

The changing market conditions have already started to reduce prices on listings.

Just over 9% of Sonoma County listings experienced a price cut in May, compared with 6.9% in April and 4.9% in March, Zillow reported. About the same percentage of sellers lowered their prices in neighboring Napa County, in contrast to reductions in April at 7.1% and 6.3% in March. To the west in Marin County, 6.8% of listings were lowered, versus 5.1% in April and 4.9% in March.

Much of this trend is due to “rising interest rates on the back of the incredible price appreciation in recent years,” Zillow spokesman Matt Kreamer pointed out, adding: “People are being priced out.”

The post North San Francisco Bay Space residential actual property markets react to spiking rates of interest appeared first on Los Gatos News And Events.