Construction
1,375-Year-Old Pyramid Unearthed During Roadwork in Mexico
2024-12-07
In June 2024, during routine roadwork on the Pachuca-Huejutla highway near San Miguel Metzquititlán in the Sierra Alta region of Hidalgo, Mexico, a truly astonishing discovery was made. A 1,375-year-old pyramid, known as Structure 1, was unearthed as workers expanded the highway, halting construction to allow archaeologists to begin their excavation. This find has not only revealed a magnificent pyramid but also a trove of artifacts that offer brand new insights into the ancient Metzca lordship, a multiethnic society that flourished in the region between 650 and 950 CE.

Uncovering the Mysteries of an Ancient Civilization

Monumental Discovery: Unveiling the Pyramid and Its Artifacts

When archaeologists embarked on their excavation, they realized that the pyramid was just one part of a much larger ceremonial complex. The site encompasses five distinct sectors, with at least ten mounds and a wide variety of artifacts scattered throughout. The Metzca lordship, which thrived during the Epiclassic period (650-950 CE), constructed this pyramid as part of a more extensive urban and ceremonial center, demonstrating their sophisticated architectural and cultural practices.The artifacts recovered from the site are truly invaluable in understanding the daily lives, trade, and cultural practices of the people who once inhabited the region. These findings include:- Over 155 artifacts, such as ceramics, stone tools, and shells.- Evidence of charcoal, charred wood, and lime floors, suggesting both ceremonial and domestic activities.- Ceramic figurines that are likely tied to religious or cultural rituals.- Lithic tools that would have been used for daily tasks.Here is a more detailed breakdown of some key artifacts found:Artifact TypeQuantitySignificanceCeramics60+Likely used in daily life, for ritual offerings, and in food preparation.Lithic Tools50+Tools for daily use, trade, and possibly ceremonial activities.Shells25Used for adornment, trade, or as part of ritual practices.Charcoal and Wood–Indicates the presence of ritual fires and burning ceremonies.Lime Floors–Suggests a unique form of construction and possible ceremonial significance.

The Metzca Lordship: Insights into an Ancient Civilization

The discovery of the pyramid and its associated artifacts provides a rare opportunity to gain insights into the Metzca lordship, a culture whose existence has been pieced together through the study of similar sites in the Sierra Alta. This civilization is renowned for its significant contributions to Mesoamerican culture, particularly in the fields of architecture, trade, and art.As archaeologists continue to study the San Miguel site, they are uncovering more and more valuable details about the Metzca society. The pyramid's position and the surrounding artifacts suggest that it was a central focus for ceremonial practices and possibly a hub for elite activities. Researchers are particularly excited about the site's potential to offer insights into the region's complex social and political structures.According to the National Institute of Anthropology and History (INAH), the discovery is of utmost importance: "This archaeological record provides valuable insights into the human occupation of the Sierra Alta region, particularly in the Barranca de Metztitlán area, where historiography traces settlements back 14,000 years." This statement emphasizes the significance of the San Miguel site not only as a discovery related to the Metzca lordship but also as a crucial piece in understanding the long history of human occupation in the region.

Preservation Efforts: Protecting a Priceless Discovery

After the initial excavation, immediate preservation efforts were implemented to safeguard the site. A rock masonry wall, measuring 141 feet long, 38 feet high, and 2.6 feet thick, was constructed to stabilize the exposed portions of the pyramid. This protective measure helps prevent further degradation and damage to the site caused by environmental factors.Subsequently, archaeologists reburied the exposed areas and covered them with geotextiles to preserve the materials for future study. This process ensures that the site remains intact for continued research and potential public education in the future.However, like many archaeological projects, budgetary constraints pose a significant challenge. Due to recent cuts to the INAH's budget, the future of the ongoing excavation and study of the San Miguel site is uncertain. The INAH has confirmed that its budget will be reduced by 45% for 2025, which may limit the scope and scale of future research efforts. Despite these challenges, the excavation team remains optimistic about the data already collected and its potential to contribute to broader historical knowledge.

A Lasting Legacy: What’s Next for the San Miguel Site

Although a great deal has been learned from the initial excavation, the potential for further discoveries at the San Miguel site is immense. Researchers are utilizing drone-based photogrammetry to map out the entire site in greater detail. These advanced technologies will help identify areas that require further excavation and enable archaeologists to create more accurate reconstructions of the ancient complex.The San Miguel pyramid is just the starting point of a deeper investigation into the Metzca lordship and its role in Mesoamerican history. Archaeologists and historians are eager to uncover more about the social structures, rituals, and trade networks that supported this ancient civilization. As the INAH has stated, "The data generated by this archaeological record will contribute to the understanding of human occupation in the Sierra Alta region of Hidalgo, specifically in the Barranca de Metztitlán area, where, according to historiography, the first settlements date back at least 14,000 years."As research continues, the site is sure to offer new revelations about the long history of human presence in the Sierra Alta region. It is hoped that the ongoing preservation and study of this extraordinary site will provide valuable insights into the culture and legacy of the Metzca lordship and, more broadly, contribute to our understanding of ancient Mesoamerican societies.
Oklahoma's New Behavioral Health Center: Cost Overrun Woes
2024-12-07
The state of Oklahoma is facing a significant issue with its new behavioral health center for central Oklahoma. The project, initially estimated to cost $150 million, now faces a massive cost overrun due to several factors. Furniture and equipment were not included in the initial estimate, and bathrooms had to be redesigned from hallways to individual rooms. This has led to an additional request for $125 million to complete the Donahue Behavioral Health Center in Oklahoma City.

Cost Factors and Challenges

Multiple factors have contributed to the higher costs. Inflation has played a significant role, making construction and materials more expensive. Additionally, when lawmakers vetted the project in 2022, they anticipated making $50 million from the sale of the land at the aging Griffin Memorial Hospital in Norman. However, due to soft demand and possible building remediation costs, this amount has now dropped to $10 million.

Former leaders at the agency failed to include costs for furniture, fixtures, and equipment in the initial project estimates presented to the Legislature. This oversight has added to the financial burden. Mental Health Commissioner Allie Friesen took over in January and is now dealing with these issues.

Design Changes and Certification Concerns

The original design had bathrooms in hallways, which raised concerns about patient safety and certification. The new leaders at the agency worried that the facility might not be able to obtain certification if bathrooms were not in patient rooms. This led to the need for a redesign and additional costs.

As a result, the bed count at the Donahue Center may be slightly reduced to accommodate the need for bathrooms in patient rooms. This is an important consideration as the center was expected to have beds to treat 275 adults and 55 adolescents.

Budget and Legislative Process

Agencies had to submit their budget requests by Oct. 1, and the Donahue project's updated information has been submitted to legislators. Discussions about the shortfall are ongoing, and the Legislature committed $87 million in federal pandemic relief funds in 2022. The rest of the funding was to come from the sale of the Griffin land.

Speaker-Elect Kyle Hilbert stated that increasing mental health capacity in the state is a priority, and they are working to find ways to meet the needs within the constraints of the available funding. Hall expects the Department of Mental Health to continue using Griffin in Norman while waiting for the Donahue Center to open. Private treatment beds on a temporary, contract basis may also be needed.

However, Hall emphasized that he cannot make a decision to fill the funding gap without going through the legislative process. This highlights the importance of collaboration between the legislative and executive branches to address the challenges and ensure the successful completion of the behavioral health center.

Paul Monies has been a reporter with Oklahoma Watch since 2017 and covers state agencies and public health. Contact him at (571) 319-3289 or pmonies@oklahomawatch.org. Follow him on Twitter @pmonies.Oklahoma Watch, at oklahomawatch.org, is a nonprofit, nonpartisan news organization that covers public-policy issues facing the state.
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Wakachiku Construction to Increase Dividend to ¥126 on June 6
2024-12-08
Wakachiku Construction Co., Ltd. (TSE:1888) has made an exciting announcement. It will be boosting its periodic dividend on the 6th of June to ¥126.00, representing a 5.0% growth from last year's payment of ¥120.00. This move is set to bring the dividend yield to 3.2%, which aligns with the industry average.

Latest Analysis for Wakachiku Construction

Wakachiku Construction's decision to increase the dividend shows its financial strength. The last dividend was comfortably covered by the company's earnings, indicating that a significant portion is being reinvested to fuel growth. However, it's important to note that EPS is expected to fall by 1.1% over the next 12 months if current trends persist. 1: This potential decline in EPS raises questions about the sustainability of the dividend in the long run. While the current payout ratio of 61% seems comfortable, it's crucial to keep an eye on how earnings develop. If earnings continue to decline, the payout ratio could become a concern. 2: On the other hand, Wakachiku Construction has a solid track record of paying stable dividends. Since 2014, the annual payment has grown at a remarkable rate of about 20% per year. This long history of dividend growth makes it an attractive option for income-seeking investors.

Dividend Growth Challenges

Some investors may be eager to buy Wakachiku Construction's stock based on its dividend history. But there are challenges. Despite the dividend growth, the company's earnings per share has basically remained stagnant over the past five years. This could erode the purchasing power of the dividend over time. 1: It's essential to consider this aspect when evaluating the company's dividend potential. While the dividend itself is attractive, the underlying earnings need to keep pace to ensure the dividend's sustainability. 2: Additionally, external factors such as market conditions and industry trends can impact the company's ability to maintain and grow its dividend. Investors need to be aware of these risks and assess them carefully.

Our Thoughts on Wakachiku Construction's Dividend

In summary, the ability of Wakachiku Construction to raise the dividend and keep it in a sustainable range is a positive sign. The current earnings coverage is acceptable, but with earnings on the decline, it's crucial to monitor the payout ratio closely. 1: This stock appears to have potential as a dividend stock going forward. However, past experiences have shown that the payout ratio can reach higher levels, which could pose a risk. Investors should be cautious and consider all factors before making an investment decision. 2: Overall, Wakachiku Construction offers an interesting opportunity for dividend investors. By analyzing the company's financials and considering various factors, investors can make more informed decisions about whether to include this stock in their portfolios.Valuation is a complex process, but our detailed analysis takes into account fair value estimates, potential risks, dividends, insider trades, and the company's financial condition.Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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