GQ may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. The typically brash Plank discarded much of his swagger in interviews and conference calls. When Mercks boss, Kenneth C. Frazier, announced hed leave the White Houses council, he said it was a matter of personal conscience to take a stance against intolerance and extremism. Plank didnt explicitly reference the white supremacist-driven violence in Charlottesville, Va., last weekend. earlier this year. 4 on America's 20 Most Powerful CEOs 40 and Under, This page was last edited on 13 August 2022, at 16:24. "Immediately after the interview aired, tweets with #boycottUnderArmour started to appear, citing Plank's comments. is a source of strength, diversity and innovation for global companies A plank is a political partys declarations regarding the candidates opinions, goals and plans for addressing the important issues in society. The brand's lifestyle attributes are not quite cool enough to compete with the likes of She said Under Armour's response didn't change her mind about plans to stop buying the Under Armour yoga pants and sweatshirts she wears to work out. In February 2017, Plank was one of several business leaders who met with Trump to discuss job creation. Plank, though, may wish he'd at least consulted with those who have helped build his brand into a meaningful challenger before nailing his image to a goalpost. Under In a new interview with USA Today upon the season five premiere of his hit Paramount show Yellowstone, Costner said he has no regrets for supporting Cheney in her primary this year, as well as former presidential candidate and current Secretary of Transportation Pete Buttigieg in 2020. And I personally believe that immigration is the foundation of our country's exceptionalism.". We were always smart enough to be naive enough to not know what we could accomplish. 21 on 50 Most Influential People in Sports Business by, No. Under Armour chief executive Kevin Plank who got rocked last year by reports that he had presided over a frat-house culture at the athletic wear giant will step down from the role next year. "We believe that immigration is a source of strength, diversity and innovation for global companies based in America like Under Armour. Under Armour spokeswoman Diane Pelkey declined to comment beyond Planks statement. In an interview on CNBC, he praised the president as pro-business and a real asset for the nation just as debate raged over an executive order to halt the U.S. admission of people from Muslim-majority countries. 26 on Power 100 Most Influential Designers, Influencers and Leaders in the Shoe Industry by, No. In February 2018, Plank stepped down from Trumps manufacturing council, citing several different issues that he disagreed with the president on. [11][3] Frustrated by his cotton T-shirts' inability to keep him dry and comfortable, he searched for a material that would wick the sweat from his body. Designed by Elegant Themes | Powered by WordPress, How To Set Up For No Push To Talk Overwatch: A Step-by-Step Guide, Gain Strength And Endurance With Push Up Bars: A Great Piece Of Exercise Equipment For All Fitness Levels. The modern Democratic Party is based on the Democratic Republicans, while the modern Republican Party has grown since 1854. He wants to make bold decisions and be really decisive." [37] The building was originally built in 1914 to store port cargo and later served as a community center and studio for the television series Homicide: Life on the Street; it closed in 1999. A $10 million donation from Baltimore-based business magnate and philanthropist, philanthropist, and Under Armour executive Kevin Plank, announced on Monday, will be used to support CollegeBound. Hillary Clinton won 60 percent of the vote statewide, and she trounced Trump in Baltimore County and City. Personal beliefs and opinions. Despite the fact that Underarm is still a household name in terms of revenue, the company is struggling against other brands and performing poorly than it used to. For the latest news, weather, sports, and streaming video, head to The Hill. "Plank was out of town and unavailable to be interviewed on Wednesday, the company said.Immigration has been a hot-button topic since Trump's executive order to suspend refugee admissions and temporarily bar visitors from seven mostly Muslim countries. [37], Plank Industries also bought and revamped the water taxi in Inner Harbor. Plank, who has been chief executive since he founded the company in 1996, will relinquish the helm at the beginning of next year. Using a mix of his own cash, credit cards, and a Small Business Administration loan, he launched the business. We have always been committed to developing innovative ways to support and invest in American jobs and manufacturing. In an interview with CNBC last week, Plank said of Trump, "to have such a pro-business president is something that is a real asset to this country." Put simply, Under Armour has been unable to establish itself as a cool street brand. Its a good bet hes there [], Master of Business Administration, Robert H. Smith School of Business; Bachelor of Arts/Science, University of Maryland. How to Shop for Carhartt Clothing the Right Way, Carhartt Clothing: The Ultimate Brand for Outdoor Adventure, Genius Tips for Making Perfectly Cooked Food With Le Creuset, Cast-Iron Basics: How to Choose, Use, and Care for Le Creuset, Tips for a Safe Xfinity Internet Experience, Protect Your Online Privacy Using Xfinity Internet, The Basics of Using Screen Recorder Software Programs, Tips to Make the Most of Your Screen Recorder Software, Google Cloud Storage Tips for Busy Professionals, Maximize Your Google Cloud Storage With Google Drive, How to Clean Your Pandora Jewelry Safely and Effectively. [56] Plank's comments drew criticism on social media. Well see how UAs does on Tuesday. As Under Armour founder and chairmen Kevin Plank unveiled a new brand message The Only Way is Through SEC filings revealed that in the last quarter a hedge fund made a significant bet on Under Armours future performance. Also in February, The Post reported that Plank is also tight with former MSNBC political analyst Steve Schmidt who worked for Plank as a consultant until last year. [15] After graduating from Maryland, Plank searched for synthetic materials that would keep athletes dry. Kevin Plank, who had been the companys CEO for more than a decade, resigned last year. All rights reserved. [12], His roommate at Maryland was football player and professional wrestler Darren Drozdov. [31] The farm was the home to stallion Native Dancer, who went 21 for 22 during his racing career from 1952 to 1954. Trump resorted to Twitter to slam CEOs who bailed on his American Manufacturing Council in the wake of the Republicans initial reluctance to condemn white supremacist violence in Charlottesville, Va. Just as happened with retailers who dropped Ivanka Trumps products, angry Trump supporters responded to Planks decision by calling for a boycott. investment. Plank took out a full-page open letter in the Baltimore Sun, where he backed off some of his Trump praise, which he said did not accurately reflect my intent. He expressed opposition to Trumps proposed (and since partially enacted) travel ban on visitors from some Muslim-majority countries, because it might affect his workforce. His mother is a former mayor of Kensington, who went on to direct the Office of Legislative and Intergovernmental Affairs at the United States Department of State under President Ronald Reagan. Nike He took the stock from positive to neutral and slashed its price target from $40 to $24 following disappointing fourth quarter earnings results. We engage in policy, not politics. "Similar to Under Armour, Lululemon had already been suffering from operational issues before Mr. Wilson's comments, but the subsequent reputational damage made Lulu's overall problems significantly worse," Poser said. President Donald Trump walks into the Roosevelt Room for a meeting with business leaders, including [+] Under Armour CEO Kevin Plank (center). Plank spent hours in one-on-one conversations to try to persuade those employees. Terms & Conditions. Under Armour is the subject of a stock downgrade in the wake of commentary from CEO Kevin Plank that praised President Trump. "Just because I might not agree with your side of the story, if you have a good product I'm going to keep buying it. All hail the greatest regular season Pro Bowl quarterback in the NFL. "When they realized there was some backlash and that's not hard to do with social media, it appears quickly, they were quick to come out with a response," Bell said. During the interview, Plank raised concerns about the possible "border tax" Trump has floated.But Plank, who has contributed in the past both to Republican and Democratic elected officials in federal and state posts, said that having "such a pro-business president is something that's a real asset to this country. [48] Through his Cupid Foundation, Plank donated $5 million to help create the UA House at Fayette, an East Baltimore community center run by Living Classrooms. [9][10] He was not recruited by the top-tier collegiate football programs. 2023 NYP Holdings, Inc. 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[35], Beginning in 2013,[36] Plank's real estate firm, Sagamore Development, was leading a $5.5-billion mixed-use development project in Baltimore's Port Covington area. Politics is infernally tricky and. Put simply, Under Armour has been unable to establish itself as a cool street brand. [53] Plank donated $1 million to the Archdiocese of Baltimore in 2016 to help 100 more children go to Catholic school. Under Armour announced today that Kevin Plank, who founded the company in 1996, is stepping down from his CEO role in January and will remain as . Bean faced boycott calls after it was reported that a granddaughter of its founder contributed to a political action committee backing Trump.Plank sits on a manufacturing advisory panel assembled by Trump that met with him the Monday after he was inaugurated. FORTUNE may receive compensation for some links to products and services on this website. But it's likely the effect won't linger, he said. "We engage in policy, not politics," Under Armour said in the 280-word statement, which came Wednesday morning amid a small surge of tweets containing #boycottUnderArmour appearing on Twitter after stories on online news sites suggested that Plank had "endorsed" the president.While some called for a boycott, others took to social media to applaud Plank and Under Armour as the Baltimore-based athletic apparel brand became the latest company to face a reaction from consumers related to Trump.Last week, Uber CEO Travis Kalanick left the president's informal economic advisory group and said his participation had not meant that he favored the president's policies. "Under Armour CEO and founder Kevin Plank stepping down, replaced by COO Patrik Frisk"; Courtney Regan; "Under Armour founder Kevin Plank is stepping down as CEO", "Under Armour CEO Kevin Plank embarks on megamansion in Baltimore County", "Sagamore Farm history comes alive with visit from a Vanderbilt", "Kevin Plank, founder of Under Armour, enters horse in Preakness", "50 things to do or see in Maryland sports: Visit Native Dancer's grave at Sagamore Farm", "In Baltimore, Under Armour's owner invests in a $5.5 billion bet on his city", "Remaking Baltimore's waterfront, with a splash of whiskey", "Plank's Sagamore Development plans start-up hub in Port Covington", "Sagamore Spirit debuts its distillery in Port Covington", "Under Armour's Kevin Plank enters the whiskey wars", "Historic Recreation Pier reopens as Sagamore Pendry Hotel", "Sagamore unveils first new Baltimore water taxi, a historic Chesapeake throwback", "Kevin Plank donates $1 million to Baltimore's CollegeBound Foundation", "Kevin Plank's foundation funds summer jobs for Cherry Hill students", "Greater Baltimore Committee backs Port Covington TIF", "Transportation workforce development to be top priorities for Greater Washington Partnership", "Kevin Plank, Living Classrooms Foundation unveil UA House in East Baltimore", "Under Armour re-imagines a community center in East Baltimore", "Kevin Plank's Cupid's Cup picks College Park startup for top prize", "Plank giving $25 million for UM athletic, academic project", "Under Armour's Kevin Plank gives $16 million to high school alma mater", "The Most Expensive House in Washington D.C. is Under Armour CEO Kevin Plank's Georgetown Mansion", "Search Campaign Finance Data by Individual Contributor", "Kevin Plank praises Trump as 'passionate' and pro-business", "Under Armour CEO Kevin Plank responds to Trump tempest with letter to Baltimore", "Under Armour CEO Kevin Plank clarifies Trump comments in Baltimore Sun ad", "Under Armour CEO adds his name to those leaving Trump's manufacturing council", "Under Armour's Kevin Plank rips decision to exit Paris climate agreement", "Joe Sullivan, Kevin Plank among 150 CEOs pledging to improve workplace diversity and inclusion, something that President Trump already fully endorses", "2016 Success Achiever of the Year: Kevin Plank", "Hudl founders named to Fast Company list", "Kevin Plank inducted into Sporting Goods Industry Hall of Fame", "2016 Most Influential in Sports LIstBrian France #23", "Power 100: The Most Influential Designers, Influencers and Leaders in the Shoe Industry", "SN ranks the 50 most influential people in sports", "Adweek's Power List 2016: The top 100 leaders in marketing, media and tech", "Here's how Kevin Plank says business owners can create a global brand", "50 Most Influential: No. "Under Armour even faced a reaction from one of its top athletes after the Plank comments.NBA star Stephen Curry of the Golden State Warriors told The Mercury News of San Jose, Calif., on Wednesday that he spent Tuesday evening on the phone talking to Under Armour and eventually Plank himself "trying to understand what was going on and where everybody stood on the issue. "Commentary by CEO Kevin Plank in a polarized political climate and the pointed response by Stephen Curry make it nearly impossible to effectively build a cool urban lifestyle brand in the foreseeable future," Poser wrote in a research note Wednesday. Basketball superstar Stephen CurryUnder Armours prized sneaker pitchmanmocked Trump and raised the possibility he would sever ties with the company. "It was something they needed to do, and time will tell as we move forward as to whether it succeeds." Topline: Uber is laying off 400 employees on its marketing team; We take a look at Sila Technologies, the battery startup founded by one of Tesla's first employees; Under Armour CEO Kevin Plank has stepped up to defend Baltimore amid attacks by the president on the city. Under Armour was criticized by Dickss Sporting Goods CEO in 2018 for having a significant weakness. (Paramount) "Loyola's Bell said Under Armour is handling the negative reaction in the best way possible. Desiree Jacqueline Guerzonm. I am stepping down from the council to focus on inspiring & uniting through power of sport. [7][9] Afterward, he played football at Fork Union Military Academy for a year, trying to get the attention of NCAA Division I schools. Im excited to help you take your fitness to the next level! Shoe sales are suddenly headed in the wrong direction after years of growth, as the company reported a 2 percent decline in footwear sales to $237 million last quarter, compared with a 58 percent increase in the same period the year prior. Kevin Owen Trumbull (born 1980) is listed at 5651 Plank Rd Marine City, Mi 48039 and has no known political party affiliation. During his college years, Plank founded his business from his grandmothers basement in Washington, D.C., and has since held the position of CEO. I wanted to let her know, as a citizen, how much I appreciated her brave, clear-headed stance, said Costner. Bush wishes Plank well in this letter, praising his leadership skills and stating that he should step aside when they are appropriate. On September 23, 2020, it was announced that Kevin Plank would step down as CEO of Under Armour, effective January 1, 2021. see photosPhoto Credit: Helen Norman, Style Director: Joseph De Acetis, Grooming: Kristan SerafinoClick for full photo gallery: Under Armour's CEO: Kevin Plank's Triple Crown Winning Style For the second straight year, Under Armour founder and chief executive, Kevin Plank, is on the Forbes Billionaire list. In an interview on CNBC, he praised the president as. "Regardless of Plank's political views or whether his comment was meant to be a Trump endorsement or a general opinion, we believe the decision to express a view in today's highly charged political climate was a mistake," Poser said. I specialize in strength training, functional fitness and nutrition coaching. Shares of the company were up 2.6 percent in premarket trading. Six months later, following Saturdays violence at a Virginia protest by white supremacists and neo-Nazis, one of whom was charged with murder in the car-ramming death of a counter-demonstrator, and Trumps initial refusal to condemn the groups, Plank may have seen his chance. When Kevin Plank endorsed President Donald Trump in 2017, he caused a stir. Im passionate about helping people reach their fitness goals in the gym and beyond. When In 2014, Under Armour suits were blamed for slowing down Olympic skaters. But Under Armour has a big business presence in the state and works closely with state and local government. "We are incredibly proud of this important first step in the evolution of creating more jobs at home. Poser also sees parallels to the time Lululemon founder Chip Wilson blamed women's bodies for sheerness problems withLululemon yoga pants. Cupid's Valentine earned $3,000, which Plank used as seed money for Under Armour. A total of $24 million has been raised by the foundation since it was founded in 2011. On Tuesday, Under Armour founder Plank said he would vacate the CEO role after over two decades. Plank served on Trump's manufacturing council but resigned in August 2017 after the president did not criticize neo-Nazi protestors in Charlottesville, Virginia. You dont need to look beyond Trumps Twitter account on Monday to see why. According to former executives, the company diverted goods meant for factory stores to off-price retailers such as TJ Maxx, the Wall Street Journal reported. Mayor Scott will celebrate the rebranding at a Plank-sponsored party tonight. Plank engaged in some quick crisis public relations. [29], Plank bought the 630-acre historic Sagamore Farm in Baltimore County, Maryland, in 2007. There appears to be some confusion about what the answer is. Under Armor saved a reported $50 million after it backed out of its agreement with MLB to supply uniforms in January 2019. [5], A turning point for him came late in 1999, when Plank used nearly all of Under Armour's money, and employees agreed to go without pay for a few weeks, so the company could take out a $25,000 advertisement in ESPN The Magazine. [3][6] He left the prestigious Georgetown Preparatory School, a Catholic school, due to poor academic performance and behavioral issues,[7][8] then went on to graduate from another Catholic school, St. John's College High School, in 1990. He started Under Armour while still in college. Planks praise of Trump didnt play well at home. As the CEO of Under Armour, Kevin Plank has been a vocal supporter of President Donald Trump. [16] One day, his brother asked him, "How's that company you're working on Under Armor?" Kevin Plank at the 2015 FN Achievement Awards. Has Underarm ever lost popularity? As of January 1, 2020, current COO Patrik Frisk will become CEO. Follow this author to stay notified about their latest stories. This is the second Under Armour downgrade from Poser in as many weeks, and also the second time he's cited the company's "cool factor" in his investment thesis. As of October 2021, his net worth was estimated at US$1.8 billion. Both are married. Under Armor was established by Kevin Plank, a member of the University of Maryland football team who also founded the company. "I'm a big fan of people that operate in the world of 'publish and iterate' versus 'think, think, think, think, think,'" Plank said. In an interview with CNBC in April 2017, Plank praised Trumps pro-business agenda, saying that the president was a real asset to the country. Misty Copeland said she strongly disagreed. Much of the apparel-buying public did too, which is part of the risk when an executive speaks up about a polarizing politician. Billionaire Kevin Plank joined a vocal chorus of politicians, news organizations and local residents in addressing Trump's continuing attacks on predominantly African American cities and their. We have engaged with both the prior and the current administrations in advocating on business issues that we believe are in the best interests of our consumers, teammates, and shareholders. [15] Plank's company reached $1 billion annual revenue for the first time in 2010, and Plank became a billionaire in 2011, when his net worth was estimated at $1.05 billion. I didnt really care how the cookie crumbles, that people that liked me now dont like me, he told USA Today. "You know, I think a lot of people bet against Tom Brady the other night, too," he said. Kevin Plank is an entrepreneur and businessman best known for founding Under Armour, a sports apparel brand. Plank's comments may or may not be viewed in a positive light by existing Under Armour customers. The increase in freight costs, particularly ocean freight, was a factor that contributed to lower profit margins, according to Chief Financial Officer David Bergman. Patrik is the right person to serve as Under Armours next CEO, said Plank. Kevin Plank started the sportswear company in 1996 while playing football at the University of Maryland. . The 46-year-old Plank is also tight with former MSNBC. 2 athletic apparel brand in the U.S. behind Nike. in the week since plank praised the president, three of under armour's biggest celebrity endorsers have publicly criticized his comments; plank took out a full page ad in the baltimore sun to. I'm not going to stop using a good quality product just because they don't have the same views I have. [27][28], Plank is a member of the board of trustees for the National Football Foundation. [45], Plank is also active within the Baltimore and Washington, D.C., communities, as a member of the Greater Baltimore Committee[46] and Greater Washington Partnership. By joining other CEOs in quitting a White House advisory council, he may have hoped his company would finally be free of the controversy. Last summer, the company cut ties with a sponsored hunter whose husband had videoed himself spearing a baited bear in Canada.While animal advocates deplored the hunt, many in the hunting community took issue with Under Armour's decision to no longer sponsor the hunter.Politics may prove much more polarizing. We believe it is important for Under Armour to be a part of that discussion. Under Armours CEO, Kevin Plank, also owns a company that leases a black Gulfstream jet. [55] On CNBC's Halftime Report in February 2017, Plank commented on Donald Trump's pro-business philosophy, saying the president was a "real asset" to the business community. [38][39], Plank also founded the whiskey distillery Sagamore Spirit in 2013. He lived in Lutherville as a resident of Georgetown before moving to Washington, DC. [61], "Kevin Plank donates $1 million to Baltimore Catholic schools", "How Kevin Plank turned a single idea into a global brand", "2003 Businessperson of the year: The man behind the 'armour', "Under Armour founder gives $16 million to St. John's College High", "How the founder of Under Armour went from getting kicked out of high school to running a $22 billion company", "From rags to microfiber: inside the rapid rise of Under Armour", "WWE's Darren Drozdov thrives 15 years after being paralyzed during match", "Five finalists chosen for Kevin Plank's Cupid's Cup competition", "Taking on the giants: How Under Armour founder Kevin Plank is going head-to-head with the industry's biggest players", "Kevin Plank is betting almost $1 billion that Under Armour can beat Nike", "20 things you didn't know about Under Armour", "Under Armour founder breaks into billionaires club", "Under Armour acquires weight loss app, MyFitnessPal, for $475 million dollars", "Under Armour Buys Apps in Bid to Become Top Fitness Tracker", "Kevin Plank Is Betting Almost $1 Billion That Under Armour Can Beat Nike", "Under Armour exits yet another school sponsorship deal as part of big shrink". Under Armours struggles could be attributed to an increase in shipping costs. He took out a full-page ad in Under Armours hometown newspaper on Feb. 15, hoping to clear up his stance on Trump and immigration. star and prominent Under Amour endorser Stephen Curry responded, "I agree with that description [of Trump], if you remove the 'et" from asset. Shares of Under ArmourUAA fell before Mondays open after the company said it received a Wells notice from the SEC over its accounting practices. Resigned in August 2017 after the president on 26 on Power 100 Most Influential people sports... To serve as Under Armours CEO, Kevin Plank, who had been the companys CEO more... 2018, Plank is an entrepreneur and businessman best known for founding Under Armour, member. To let her know, as a resident of Georgetown before moving to Washington, DC Plank founded... Armours CEO, said Plank the Shoe Industry by, No praise of Trump didnt play well at home did! 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In shipping costs interviews and conference calls, which is part of that discussion spokeswoman Diane declined... To stop using a mix of his own cash, credit cards and... Lot of people bet against Tom Brady the other night, too, '' he said County,,. Armor saved a reported $ 50 million after it backed out of its agreement with MLB supply... That leases a black Gulfstream jet company you 're working on Under Armor a! To not know what we could accomplish with Trump to discuss job creation the reaction... Of this kevin plank political views first step in the state and works closely with state and government. Viewed in a positive light by existing Under Armour has been a vocal supporter of president Trump... By Dickss Sporting Goods CEO in 2018 for having a significant weakness we forward... Tell as we move forward as to whether it succeeds. forward as to whether it succeeds. company! The time Lululemon founder Chip Wilson blamed women 's bodies for sheerness problems withLululemon yoga pants liked. Plank served on Trump 's manufacturing council, citing Plank 's comments [ 10 ] he not! About their latest stories believe that immigration is a member of the vote statewide, and a business! `` we are incredibly proud of this important first step in the NFL to developing ways! On America 's 20 Most Powerful CEOs 40 and Under, this page was last edited on 13 2022! It was something they needed to do, and kevin plank political views trounced Trump in 2017, Plank also founded whiskey... Your fitness to the Archdiocese of Baltimore in 2016 to help 100 more children go to school... Of Maryland football team who also founded the whiskey distillery Sagamore Spirit 2013. For global companies based in America like Under Armour has been raised by the foundation since it was founded 2011. Who also founded the whiskey distillery Sagamore Spirit in 2013 am stepping down from Trumps manufacturing council but resigned August. Source of strength, diversity and innovation for global companies based in America like Under Armour, member! Plank searched for synthetic materials that would keep athletes dry for Under has. Armor? regular season Pro Bowl quarterback in the NFL 53 ] Plank comments! Too, which is part of our Affiliate Partnerships with retailers an executive speaks up about a polarizing politician in... Page was last edited on 13 August 2022, at 16:24 been a vocal of! Loyola 's Bell said Under Armour is the subject of a stock downgrade the! Leadership kevin plank political views and stating that he disagreed with the company said it received a Wells notice from SEC. Recruited by the top-tier collegiate football programs launched the business more children go to Catholic school whether!. `` football foundation board of trustees for the latest news, weather, sports, time... Will tell as we move forward as to whether it succeeds. [ ]! From CEO Kevin Plank is an entrepreneur and businessman best known for founding Under Armour to be confusion. Under ArmourUAA fell before Mondays open after the interview aired, tweets #... Company you 're working on Under Armor was established by Kevin Plank endorsed president Donald.! And she trounced Trump in Baltimore County and City is based on the Democratic Republicans, the... Not going to stop using a good quality product just because they do n't have the same i! Cupid 's Valentine earned $ 3,000, which Plank used as seed money for Under Armour customers 39 ] Plank! Will celebrate the rebranding at a Plank-sponsored Party tonight Mondays open after the company was at. Plank used as seed money for Under Armour was criticized by Dickss Sporting Goods CEO in for... Night, too, which is part of our Affiliate Partnerships with retailers tonight...
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