Polar Cub Café to close after 50 years of operation

By Ariana Crockett O’Harra The Polar Cub Café’s 50-year run has come to an end. On Friday, November 28, the storied restaurant will close for meal service. On the morning of Sunday, November 23, the morning sun was just peeking through the windows of the café, customers waited in line at the register, buying coffee and baked goods. Despite the busy scene, the cafe will be ending the meal service this week. The coffee shop inside the restaurant will still be open. Larry St. Clair bought the building and business in January with his wife Mymy. While the restaurant is eking out a profit, it takes lots of time and adequate staff to operate it. The St. Clairs haven’t been able to find enough employees to run the restaurant to allow them the time to run their other businesses. Downstairs, they operate the Polar Bar, and there are apartments upstairs. Larry has a gold mining business and Mymy runs a nail salon. “Business is good,” said St. Clair in an interview with the Nugget. “There’s no problem with the amount of people visiting the restaurant. It’s the amount of time that it takes is not feasible. St. Clair said that the profit they make from the restaurant just isn’t worth the amount of time and effort they put into it, compared to what they make from their other businesses. “The Polar is profitable,” he said. “Mining is more profitable, per hour, per year.” When the St. Clairs bought the building from Patrick “Pat” and William “Bill” Krier, whose family had owned it for 25 years, the Krier brothers told them the restaurant wasn’t profitable. “We took over at the first of the year and the former owners advised us when we did the best thing we could do is close the restaurant,” said St. Clair. He said every day, there’s something that must be fixed in the restaurant. “There’s always a fire, not literally, metaphorically speaking, there’s always a fire in the kitchen,” said St. Clair. “There’s something broke, something won’t start, something is messed up, we have to fix it.” The other issue is staffing. St. Clair said that putting a plate of food on a customer’s table takes five people from start to finish: the cook, dishwasher, waiter, manager and someone to do maintenance. Right now, the restaurant is operating with a staff of two a dishwasher and a cook plus the St. Clairs themselves, and a janitor who works a few hours a day. “There are no baristas. There are no cooks. Wait staff has been impossible, and they’re just not here,” said St. Clair. With the restaurant closing, the waiter and dishwasher will be laid off. The St. Clairs looked for a manager to take the day-to-day operations off their hands, too, but they couldn’t find a single applicant. “We’ve left it open, almost as a community service to Nome, and we keep saying that it’s not profitable, but let’s leave it open,” said St. Clair. “The labor pool isn’t here. It’s just not.” “It’s not just the restaurant’s dilapidated. The whole building is a problem. So when this goes bad over here, it affects the restaurant over here,” he said. “All of it just compounds onto me to fix it all.” Still, the iconic seaside view isn’t going anywhere. The coffee shop will remain open for business and customers will still be able to use the space. The coffee shop will have pre-made food such as baked goods, bagels, and potentially breakfast burritos, but they won’t be doing any cooking in the restaurant kitchen itself. The plan is to strip the kitchen of ruined equipment and deep clean it. St. Clair said that a lot of their food currently comes from Costco, which is where they plan to get the small eats for the coffee shop. The beans are from Kaladi Brothers Coffee, an Anchorage based coffee roasters. All of that will be available at the same location. The Polar Cub Café’s last day of meal service will be Friday, November 28. Section: News.

Elon Musk’s SpaceX moves 1,163 Bitcoin worth $105M

The post Elon Musk’s SpaceX moves 1, 163 Bitcoin worth $105M appeared com. Key Takeaways SpaceX moved 1, 163 Bitcoin worth $105M to a new wallet, following a larger transfer last month. The moved funds are believed to be for custody reasons, with SpaceX’s wallet now holding 6, 095 BTC. A crypto wallet associated with SpaceX moved 1, 163 Bitcoin valued at around $105 million to a new wallet today, according to Arkham Intelligence data. The transfer comes after the Elon Musk-owned space exploration company sent $268 million in Bitcoin to a new address last month. Analysts suggest SpaceX may have moved the funds for custody purposes rather than selling them. The labeled wallet currently holds 6, 095 Bitcoin worth almost $553 million. Following a three-year dormancy period, the wallet resumed activity in late July, sending out $153 million worth of Bitcoin. Bitcoin is currently trading near $91,000, up 3. 5% over the past 24 hours, according to CoinGecko. Source:.

India Approves $815 Million Plan to Boost Rare-Earth Magnet Production and Reduce Imports

The post India Approves $815 Million Plan to Boost Rare-Earth Magnet Production and Reduce Imports appeared com. India has approved a $815 million investment to enhance domestic production of rare-earth permanent magnets, aiming to reduce reliance on imports amid global supply chain disruptions. This initiative targets 6, 000 metric tonnes per annum capacity through five manufacturing units, supporting EVs and renewable energy sectors. India’s $815 million program supports integrated manufacturing of rare-earth magnets to achieve self-reliance. The plan includes five units, each producing up to 1, 200 tonnes annually, with operations starting in 2-3 years. In 2024-25, India imported 53, 748 metric tonnes of these magnets, highlighting the need for local production to cut dependence on China. India approves $815 million for rare-earth magnets production to boost self-reliance in EVs and clean energy. Discover how this impacts global supply chains and reduces import risks. Read more now. What is India’s rare-earth permanent magnets production program? India’s rare-earth permanent magnets production program is a government-backed initiative worth ₹7, 280 crore ($815-816 million) designed to establish a complete domestic supply chain for these critical components. It focuses on converting rare-earth oxides into metals, alloys, and finished magnets, with the goal of reaching 6, 000 metric tonnes per annum across five integrated units. This effort aligns with the Atmanirbhar Bharat policy to foster self-reliance in high-tech industries. How will export restrictions influence India’s rare-earth magnets strategy? Export restrictions from China have disrupted global rare-earth supply chains, prompting India to accelerate local manufacturing to secure supplies for electric vehicles, wind turbines, and electronics. According to government data, these magnets are essential for sectors like aerospace and defense, where reliability is paramount. The program, announced by Information and Broadcasting Minister Ashwini Vaishnaw, includes a two-year setup phase followed by five years of incentives, enabling firms to scale production efficiently. Experts note that while domestic rare-earth oxide supplies like neodymium-praseodymium are limited, international sourcing and mining expansions will.