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As Anger Toward Belarus Mounts, Recall The 2013 Forced Landing Of Bolivia"s Plane To Find Snowden

As Anger Toward Belarus Mounts, Recall The 2013 Forced Landing Of Bolivia's Plane To Find Snowden .....»»

Category: worldSource: nytMay 25th, 2021

41 people dead after an Aeroflot plane burst into flames during an emergency landing at a major Moscow airport

41 people were killed when an Aeroflot passenger plane burst into flames and was forced to make an emergency landing at a major Moscow airport Sunday evening.  The Russian Investigative Committee .....»»

Category: topSource: businessinsiderMay 5th, 2019

Southwest ferry flight on Boeing 737 Max makes emergency landing

A Southwest flight flown on a Boeing 737 Max aircraft was forced to make an emergency landing at Orlando International Airport after the plane encountered engine troubles Tuesday. Southwest Flight 8701 was operating as a ferry flight, the company s.....»»

Category: topSource: bizjournalsMar 27th, 2019

Lululemon has made a big comeback since its sheer pants nightmare

Remember the sheer pants debacle for yoga apparel company Lululemon in 2013? Lululemon was forced to recall black yoga pants that revealed just a little too much......»»

Category: topSource: cnnApr 25th, 2018

Southwest Airlines Engine Failure Results in First Fatality on U.S. Airline in 9 Years

The plane made an emergency landing. An engine failure that forced Southwest Airlines Flight 1380 to make an emergency landing ha.....»»

Category: europeSource: fortuneApr 17th, 2018

Southwest Flight 861 makes emergency landing in Dallas after "pressurization event" - CBS News

CBS NewsSouthwest Flight 861 makes emergency landing in Dallas after "pressurization event"CBS NewsLast Updated May 14, 2018 11:03 AM EDT. DALLAS -- A Southwest Airlines plane was forced to make an emergency landing Saturday in Dallas. CBS/Dallas Fort.....»»

Category: topSource: googlenewsMay 14th, 2018

Sichuan Airlines pilot was "sucked halfway" out of window

The co-pilot of a Sichuan Airlines flight that was forced to make an emergency landing on Monday was “sucked halfway” out of the plane after a cockpit windshield blew out, local media reported citing the aircraft’s captain. Grace Lee reports......»»

Category: videoSource: reutersMay 15th, 2018

Southwest hopes $49 fares will draw customers after its first passenger death

One month after an engine on flight 1380 blew apart and forced the plane to make an emergency landing, Southwest announced a rebooted marketing plan......»»

Category: topSource: washpostMay 16th, 2018

A JetBlue plane was forced to make an emergency landing after colliding with a bird (JBLU)

AP JetBlue Flight 2216 made an emergenc.....»»

Category: topSource: businessinsiderMay 24th, 2018

A bomb threat forced a United Airlines plane to make an emergency landing in Ireland (UAL)

REUTERS/Arnd Wiegmann United Airlines Flights 971 made an emergency landing in Shannon, Ireland on Monday. Reports indicate a bomb threat was discovered on board the Boeing 767-300. According to reports, the threat wa.....»»

Category: topSource: businessinsiderJun 11th, 2018

Merkel"s plane makes emergency stop, tech issues reported

A plane carrying German Chancellor Angela Merkel to the Group of 20 meeting in Argentina was forced to make an unscheduled landing Thursday night in western Germany, reportedly due to technical problems......»»

Category: topSource: foxnewsNov 29th, 2018

Inside the World of Black Bitcoin, Where Crypto Is About Making More Than Just Money

“We can operate on an even playing field in the digital world” At the Black Blockchain Summit, there is almost no conversation about making money that does not carry with it the possibility of liberation. This is not simply a gathering for those who would like to ride whatever bumps and shocks, gains and losses come with cryptocurrency. It is a space for discussing the relationship between money and man, the powers that be and what they have done with power. Online and in person, on the campus of Howard University in Washington, D.C., an estimated 1,500 mostly Black people have gathered to talk about crypto—decentralized digital money backed not by governments but by blockchain technology, a secure means of recording transactions—as a way to make money while disrupting centuries-long patterns of oppression. [time-brightcove not-tgx=”true”] “What we really need to be doing is to now utilize the technology behind blockchain to enhance the quality of life for our people,” says Christopher Mapondera, a Zimbabwean American and the first official speaker. As a white-haired engineer with the air of a lecturing statesman, Mapondera’s conviction feels very on-brand at a conference themed “Reparations and Revolutions.” Along with summit organizer Sinclair Skinner, Mapondera co-founded BillMari, a service that aims to make it easier to transmit cryptocurrency to wherever the sons and daughters of Africa have been scattered. So, not exactly your stereotypical “Bitcoin bro.” Contrary to the image associated with cryptocurrency since it entered mainstream awareness, almost no one at the summit is a fleece-vest-wearing finance guy or an Elon Musk type with a grudge against regulators. What they are is a cross section of the world of Black crypto traders, educators, marketers and market makers—a world that seemingly mushroomed during the pandemic, rallying around the idea that this is the boon that Black America needs. In fact, surveys indicate that people of color are investing in cryptocurrency in ways that outpace or equal other groups—something that can’t be said about most financial products. About 44% of those who own crypto are people of color, according to a June survey by the University of Chicago’s National Opinion Research Center. In April, a Harris Poll reported that while just 16% of U.S. adults overall own cryptocurrency, 18% of Black Americans have gotten in on it. (For Latino Americans, the figure is 20%.) The actor Hill Harper of The Good Doctor, a Harvard Law School friend of former President Barack Obama, is a pitchman for Black Wall Street, a digital wallet and crypto trading service developed with Najah Roberts, a Black crypto expert. And this summer, when the popular money-transfer service Cash App added the option to purchase Bitcoin, its choice to explain the move was the MC Megan Thee Stallion. “With my knowledge and your hustle, you’ll have your own empire in no time,” she says in an ad titled “Bitcoin for Hotties.” Read more: Americans Have Learned to Talk About Racial Inequality. But They’ve Done Little to Solve It But, as even Megan Thee Stallion acknowledges in that ad, pinning one’s economic hopes on crypto is inherently risky. Many economic experts have described crypto as little better than a bubble, mere fool’s gold. The rapid pace of innovation—it’s been little more than a decade since Bitcoin was created by the enigmatic, pseudonymous Satoshi Nakamoto—has left consumers with few protections. Whether the potential is worth those risks is the stuff of constant, and some would say, infernal debate. Jared Soares for TIMECleve Mesidor, who founded the National Policy Network of Women of Color in Blockchain What looms in the backdrop is clear. In the U.S., the median white family’s wealth—reflecting not just assets minus debt, but also the ability to weather a financial setback—sat around $188,200, per the Federal Reserve’s most recent measure in 2019. That’s about eight times the median wealth of Black families. (For Latino families, it’s five times greater; the wealth of Asian, Pacific Island and other families sits between that of white and Latino families, according to the report.) Other estimates paint an even grimmer picture. If trends continue, the median Black household will have zero wealth by 2053. The summit attendees seem certain that crypto represents keys to a car bound for somewhere better. “Our digital selves are more important in some ways than our real-world selves,” Tony Perkins, a Black MIT-trained computer scientist, says during a summit session on “Enabling Black Land and Asset Ownership Using Blockchain.” The possibilities he rattles off—including fractional ownership of space stations—will, to many, sound fantastical. To others, they sound like hope. “We can operate on an even playing field in the digital world,” he says. The next night, when in-person attendees gather at Barcode, a Black-owned downtown D.C. establishment, for drinks and conversation, there’s a small rush on black T-shirts with white lettering: SATOSHI, they proclaim, IS BLACK. That’s an intriguing idea when your ancestors’ bodies form much of the foundation of U.S. prosperity. At the nation’s beginnings, land theft from Native Americans seeded the agricultural operations where enslaved Africans would labor and die, making others rich. By 1860, the cotton-friendly ground of Mississippi was so productive that it was home to more millionaires than anywhere else in the country. Government-supported pathways to wealth, from homesteading to homeownership, have been reliably accessible to white Americans only. So Black Bitcoiners’ embrace of decentralized currencies—and a degree of doubt about government regulators, as well as those who have done well in the traditional system—makes sense. Skinner, the conference organizer, believes there’s racial subtext in the caution from the financial mainstream regarding Bitcoin—a pervasive idea that Black people just don’t understand finance. “I’m skeptical of all of those [warnings], based on the history,” Skinner, who is Black American, says. Even a drop in the value of Bitcoin this year, which later went back up, has not made him reticent. “They have petrol shortages in England right now. They’ll blame the weather or Brexit, but they’ll never have to say they’re dumb. Something don’t work in Detroit or some city with a Black mayor, we get a collective shame on us.” Read more: America’s Interstate Slave Trade Once Trafficked Nearly 30,000 People a Year—And Reshaped the Country’s Economy The first time I speak to Skinner, the summit is still two weeks away. I’d asked him to talk through some of the logistics, but our conversation ranges from what gives money value to the impact of ride-share services on cabbies refusing Black passengers. Tech often promises to solve social problems, he says. The Internet was supposed to democratize all sorts of things. In many cases, it defaulted to old patterns. (As Black crypto policy expert Cleve Mesidor put it to me, “The Internet was supposed to be decentralized, and today it’s owned by four white men.”) But with the right people involved from the start of the next wave of change—crypto—the possibilities are endless, Skinner says. Skinner, a Howard grad and engineer by training, first turned to crypto when he and Mapondera were trying to find ways to do ethanol business in Zimbabwe. Traditional international transactions were slow or came with exorbitant fees. In Africa, consumers pay some of the world’s highest remittance, cell phone and Internet data fees in the world, a damaging continuation of centuries-long wealth transfers off the continent to others, Skinner says. Hearing about cryptocurrency, he was intrigued—particularly having seen, during the recession, the same banking industry that had profited from slavery getting bailed out as hundreds of thousands of people of color lost their homes. So in 2013, he invested “probably less than $3,000,” mostly in Bitcoin. Encouraged by his friend Brian Armstrong, CEO of Coinbase, one of the largest platforms for trading crypto, he grew his stake. In 2014, when Skinner went to a crypto conference in Amsterdam, only about eight Black people were there, five of them caterers, but he felt he had come home ideologically. He saw he didn’t need a Rockefeller inheritance to change the world. “I don’t have to build a bank where they literally used my ancestors to build the capital,” says Skinner, who today runs a site called I Love Black People, which operates like a global anti-racist Yelp. “I can unseat that thing by not trying to be like them.” Eventually, he and Mapondera founded BillMari and became the first crypto company to partner with the Reserve Bank of Zimbabwe to lower fees on remittances, the flow of money from immigrants overseas back home to less-developed nations—an economy valued by the World Bank and its offshoot KNOMAD at $702 billion in 2020. (Some of the duo’s business plans later evaporated, after Zimbabwe’s central bank revoked approval for some cryptocurrency activities.) Skinner’s feelings about the economic overlords make it a bit surprising that he can attract people like Charlene Fadirepo, a banker by trade and former government regulator, to speak at the summit. On the first day, she offers attendees a report on why 2021 was a “breakout year for Bitcoin,” pointing out that major banks have begun helping high-net-worth clients invest in it, and that some corporations have bought crypto with their cash on hand, holding it as an asset. Fadirepo, who worked in the Fed’s inspector general’s office monitoring Federal Reserve banks and the Consumer Financial Protection Bureau, is not a person who hates central banks or regulation. A Black American, she believes strongly in both, and in their importance for protecting investors and improving the economic position of Black people. Today she operates Guidefi, a financial education and advising company geared toward helping Black women connect with traditional financial advisers. It just launched, for a fee, direct education in cryptocurrency. Crypto is a relatively new part of Fadirepo’s life. She and her Nigerian-American doctor husband earn good salaries and follow all the responsible middle-class financial advice. But the pandemic showed her they still didn’t have what some of his white colleagues did: the freedom to walk away from high-risk work. As the stock market shuddered and storefronts shuttered, she decided a sea change was coming. A family member had mentioned Bitcoin at a funeral in 2017, but it sounded risky. Now, her research kept bringing her back to it. Last year, she and her husband bought $6,000 worth. No investment has ever generated the kinds of returns for them that Bitcoin has. “It has transformed people’s relationship with money,” she says. “Folks are just more intentional … and honestly feeling like they had access to a world that was previously walled off.” Read more: El Salvador Is Betting on Bitcoin to Rebrand the Country — and Strengthen the President’s Grip She knows frauds exists. In May, a federal watchdog revealed that since October 2020, nearly 7,000 people have reported losses of more than $80 million on crypto scams—12 times more scam reports than the same period the previous year. The median individual loss: $1,900. For Fadirepo, it’s worrying. That’s part of why she helps moderate recurring free learning and discussion options like the Black Bitcoin Billionaires chat room on Clubhouse, which has grown from about 2,000 to 130,000 club members this year. Jared Soares for TIMECharlene Fadirepo, a banker and former government regulator, near the National Museum of African American History and Culture There’s a reason Black investors might prefer their own spaces for that kind of education. Fadirepo says it’s not unheard-of in general crypto spaces—theoretically open to all, but not so much in practice—to hear that relying on the U.S. dollar is slavery. “To me, a descendant of enslaved people in America, that was painful,” she says. “There’s a lot of talk about sovereignty, freedom from the U.S. dollar, freedom from inflation, inflation is slavery, blah blah blah. The historical context has been sucked out of these conversations about traditional financial systems. I don’t know how I can talk about banking without also talking about history.” Back in January, I found myself in a convenience store in a low-income and predominantly Black neighborhood in Dallas, an area still living the impact of segregation decades after its official end. I was there to report on efforts to register Black residents for COVID-19 shots after an Internet-only sign-up system—and wealthier people gaming the system—created an early racial disparity in vaccinations. I stepped away to buy a bottle of water. Inside the store, a Black man wondered aloud where the lottery machine had gone. He’d come to spend his usual $2 on tickets and had found a Bitcoin machine sitting in its place. A second Black man standing nearby, surveying chip options, explained that Bitcoin was a form of money, an investment right there for the same $2. After just a few questions, the first man put his money in the machine and walked away with a receipt describing the fraction of one bitcoin he now owned. Read more: When a Texas County Tried to Ensure Racial Equity in COVID-19 Vaccinations, It Didn’t Go as Planned I was both worried and intrigued. What kind of arrangement had prompted the store’s owner to replace the lottery machine? That month, a single bitcoin reached the $40,000 mark. “That’s very revealing, if someone chooses to put a cryptocurrency machine in the same place where a lottery [machine] was,” says Jeffrey Frankel, a Harvard economist, when I tell him that story. Frankel has described cryptocurrencies as similar to gambling, more often than not attracting those who can least afford to lose, whether they are in El Salvador or Texas. Frankel ranks among the economists who have been critical of El Salvador’s decision to begin recognizing Bitcoin last month as an official currency, in part because of the reality that few in the county have access to the internet, as well as the cryptocurrency’s price instability and its lack of backing by hard assets, he says. At the same time that critics have pointed to the shambolic Bitcoin rollout in El Salvador, Bitcoin has become a major economic force in Nigeria, one of the world’s larger players in cryptocurrency trading. In fact, some have argued that it has helped people in that country weather food inflation. But, to Frankel, crypto does not contain promise for lasting economic transformation. To him, disdain for experts drives interest in cryptocurrency in much the same way it can fuel vaccine hesitancy. Frankel can see the potential to reduce remittance costs, and he does not doubt that some people have made money. Still, he’s concerned that the low cost and click-here ease of buying crypto may draw people to far riskier crypto assets, he says. Then he tells me he’d put the word assets here in a hard set of air quotes. And Frankel, who is white, is not alone. Darrick Hamilton, an economist at the New School who is Black, says Bitcoin should be seen in the same framework as other low-cost, high-risk, big-payoff options. “In the end, it’s a casino,” he says. To people with less wealth, it can feel like one of the few moneymaking methods open to them, but it’s not a source of group uplift. “Like any speculation, those that can arbitrage the market will be fine,” he says. “There’s a whole lot of people that benefited right before the Great Recession, but if they didn’t get out soon enough, they lost their shirts too.” To buyers like Jiri Sampson, a Black cryptocurrency investor who works in real estate and lives outside Washington, D.C., that perspective doesn’t register as quite right. The U.S.-born son of Guyanese immigrants wasn’t thinking about exploitation when he invested his first $20 in cryptocurrency in 2017. But the groundwork was there. Sampson homeschools his kids, due in part to his lack of faith that public schools equip Black children with the skills to determine their own fates. He is drawn to the capacity of this technology to create greater agency for Black people worldwide. The blockchain, for example, could be a way to establish ownership for people who don’t hold standard documents—an important issue in Guyana and many other parts of the world, where individuals who have lived on the land for generations are vulnerable to having their property co-opted if they lack formal deeds. Sampson even pitched a project using the blockchain and GPS technology to establish digital ownership records to the Guyanese government, which did not bite. “I don’t want to downplay the volatility of Bitcoin,” Sampson says. But that’s only a significant concern, he believes, if one intends to sell quickly. To him, Bitcoin represents a “harder” asset than the dollar, which he compares to a ship with a hole in it. Bitcoin has a limited supply, while the Fed can decide to print more dollars anytime. That, to Sampson, makes some cryptocurrencies, namely Bitcoin, good to buy and hold, to pass along wealth from one generation to another. Economists and crypto buyers aren’t the only ones paying attention. Congress, the Securities and Exchange Commission, and the Federal Reserve have indicated that they will move toward official assessments or regulation soon. At least 10 federal agencies are interested in or already regulating crypto in some way, and there’s now a Congressional Blockchain Caucus. Representatives from the Federal Reserve and the SEC declined to comment, but SEC Chairman Gary Gensler assured a Senate subcommittee in September that his agency is working to develop regulation that will apply to cryptocurrency markets and trading activity. Enter Cleve Mesidor, of the quip about the Internet being owned by four white men. When we meet during the summit, she introduces herself: “Cleve Mesidor, I’m in crypto.” She’s the first person I’ve ever heard describe herself that way, but not that long ago, “influencer” wasn’t a career either. A former Obama appointee who worked inside the Commerce Department on issues related to entrepreneurship and economic development, Mesidor learned about cryptocurrency during that time. But she didn’t get involved in it personally until 2013, when she purchased $200 in Bitcoin. After leaving government, she founded the National Policy Network of Women of Color in Blockchain, and is now the public policy adviser for the industry group the Blockchain Association. There are more men than women in Black crypto spaces, she tells me, but the gender imbalance tends to be less pronounced than in white-dominated crypto communities. Mesidor, who immigrated to the U.S. from Haiti and uses her crypto investments to fund her professional “wanderlust,” has also lived crypto’s downsides. She’s been hacked and the victim of an attempted ransomware attack. But she still believes cryptocurrency and related technology can solve real-world problems, and she’s trying, she says, to make sure that necessary consumer protections are not structured in a way that chokes the life out of small businesses or investors. “D.C. is like Vegas; the house always wins,” says Mesidor, whose independently published book is called The Clevolution: My Quest for Justice in Politics & Crypto. “The crypto community doesn’t get that.” Passion, she says, is not enough. The community needs to be involved in the regulatory discussions that first intensified after the price of a bitcoin went to $20,000 in 2017. A few days after the summit, when Mesidor and I spoke by phone, Bitcoin had climbed to nearly $60,000. At Barcode, the Washington lounge, Isaiah Jackson is holding court. A man with a toothpaste-commercial smile, he’s the author of the independently published Bitcoin & Black America, has appeared on CNBC and is half of the streaming show The Gentleman of Crypto, which bills itself as the one of the longest-running cryptocurrency shows on the Internet. When he was building websites as a sideline, he convinced a large black church in Charlotte, N.C., to, for a time, accept Bitcoin donations. He helped establish Black Bitcoin Billionaires on Clubhouse and, like Fadirepo, helps moderate some of its rooms and events. He’s also a former teacher, descended from a line of teachers, and is using those skills to develop (for a fee) online education for those who want to become crypto investors. Now, there’s a small group standing near him, talking, but mostly listening. Jackson was living in North Carolina when one of his roommates, a white man who worked for a money-management firm, told him he had just heard a presentation about crypto and thought he might want to suggest it to his wealthy parents. The concept blew Jackson’s mind. He soon started his own research. “Being in the Black community and seeing the actions of banks, with redlining and other things, it just appealed to me,” Jackson tells me. “You free the money, you free everything else.” Read more: Beyond Tulsa: The Historic Legacies and Overlooked Stories of America’s ‘Black Wall Streets’ He took his $400 savings and bought two bitcoins in October 2013. That December, the price of a single bitcoin topped $1,100. He started thinking about what kind of new car he’d buy. And he stuck with it, even seeing prices fluctuate and scams proliferate. When the Gentlemen of Bitcoin started putting together seminars, one of the early venues was at a college fair connected to an annual HBCU basketball tournament attended by thousands of mostly Black people. Bitcoin eventually became more than an investment. He believed there was great value in spreading the word. But that was then. “I’m done convincing people. There’s no point battling going back and forth,” he says. “Even if they don’t realize it, what [investors] are doing if they are keeping their bitcoin long term, they are moving money out of the current system into another one. And that is basically the best form of peaceful protest.”   —With reporting by Leslie Dickstein and Simmone Shah.....»»

Category: topSource: time12 hr. 23 min. ago

Silver, The Edge Over Gold

When discussing wealth preservation or any form of a conservative hedge, the word gold comes easily to the forefront. The shiny metal has a substantial history of having saved a civilization or two. The lesser obvious choice is silver, but this precious metal is in a unique situation right now that any speculator that seeks […] When discussing wealth preservation or any form of a conservative hedge, the word gold comes easily to the forefront. The shiny metal has a substantial history of having saved a civilization or two. The lesser obvious choice is silver, but this precious metal is in a unique situation right now that any speculator that seeks out a hedge against inflation should be aware of. Silver, the edge over gold. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Walter Schloss Series in PDF Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues. (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more It isn’t just a good bet to hedge exuberant market risk right now. It is massively undervalued and, as such, a pristine play in itself. Silver In US-Dollar, Monthly Chart, Still At Average Prices: Silver in US-Dollar, monthly chart as of October 15th, 2021. A look at the monthly chart over the last forty years, back to 1980 when the US also was confronted with a crisis, silver prices skyrocketed. Overall, though, prices right now reflect averages like averages of that time. Gold In US-Dollar, Monthly Chart, Trending Up: Gold in US-Dollar, monthly chart as of October 15th, 2021. In comparison to the monthly gold chart, we can see what’s out of whack. Gold since then from its averages at the time has appreciated nearly 300%. We see no fundamental reasons that substantiate such a divergence between the two. With silver being that grossly undervalued, it has tremendous additional potential once it is forced to catch up. This is partially reflected in the stretch between the spot price and the actual value of physical silver that can be acquired. A nearly 20% spread can be seen now for almost two years. It would come as no surprise that a supply shortage might bring fuel to an up move. Silver In US-Dollar, Daily Chart, Minimizing Entry Risk: Silver in US-Dollar, daily chart as of October 15th, 2021. It isn’t only the long-term profit probability that makes silver attractive. Silver also has an edge from the perspective of execution. Low-risk entries and exits are fundamental elements for high probability win ratios. We want to share some edges with the reader on how to engage with silver from an execution standpoint. We picked the daily time frame since daily charts do have a significant position for most market speculators. Daily time frame charts are typically used for smaller time frame position traders as setup time frames. Larger time frame players who have their setups either on weekly or monthly charts still use daily time frames to time their entries to mitigate execution risk. We circled in the daily chart above two sets of supportive methods on how to find low-risk entries that provide not only higher likely turning points, but a way to set tighter stops than usual. White circles show how meaningful the “mean” (blue line) is to silver traders. Yellow circles show when the price meets the 200 simple moving average (purple line), another point of interest to traders. A low-risk entry point marks when multiple edges appear simultaneously like in scenario “one,” a low-risk entry point is located. In our example, a short entry with support from a two-hundred simple moving average, the mean, and a distribution zone defined by a fractal volume analysis (histogram to the right of the chart.) Silver In US-Dollar, Monthly Chart, Getting Ready: Silver in US-Dollar, monthly chart as of October 14th, 2021. From a long-term investment perspective, we would be interested in looking for a daily low-risk entry point once October (very right bar on monthly chart above) closes in the green. In addition, we would like the price to be lower than the October’s candle closing price after the first four trading days of November. Silver, The Edge Over Gold: We do not believe in extremes, quite the contrary. While typically diversification means more like throwing stuff against the wall and hoping something sticks, when it comes to wealth preservation, diversification is a good thing. We aren’t living in times to aim to make a killing. Right now, risk control supersedes exuberant market play for profits. We find gold and bitcoin very much suitable to protect your wealth. The steep percentage factor of inflation also warrants for a more aggressive wealth preservation play. That is where silver comes in. Silver with the potential to see triple-digit prices in the near future allows for keeping inflation risk in check. Feel free to join us in our free Telegram channel for daily real time data and a great community. If you like to get regular updates on our gold model, precious metals and cryptocurrencies you can also subscribe to our free newsletter. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. The views, thoughts and opinions expressed here are the author’s alone. They do not necessarily reflect or represent the views and opinions of Midas Touch Consulting. Article By Korbinian Koller, Midas Touch About the Author: Korbinian Koller Outstanding abstract reasoning ability and ability to think creatively and originally has led over the last 25 years to extract new principles and a unique way to view the markets resulting in a multitude of various time frame systems, generating high hit rates and outstanding risk reward ratios. Over 20 years of coaching traders with heart & passion, assessing complex situations, troubleshoot and solve problems principle based has led to experience and a professional history of success. Skilled natural teacher and exceptional developer of talent.Avid learner guided by a plan with ability to suppress ego and empower students to share ideas and best practices and to apply principle-based technical/conceptual knowledge to maximize efficiency. 25+ year execution experience (50.000+ trades executed) Trading multiple personal accounts (long and short-and combinations of the two). Amazing market feel complementing mechanical systems discipline for precise and extreme low risk entries while objectively seeing the whole picture. Ability to notice and separate emotional responses from the decision-making process and to stand outside oneself and one’s concerns about images in order to function in terms of larger objectives. Developed exit strategies that compensate both for maximizing profits and psychological ease to allow for continuous flow throughout the whole trading day. In depth knowledge of money management strategies with the experience of multiple 6 sigma events in various markets (futures, stocks, commodities, currencies, bonds) embedded in extreme low risk statistical probability models with smooth equity curves and extensive risk management as well as extensive disaster risk allow for my natural capacity for risk-taking. Updated on Oct 15, 2021, 2:41 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalk12 hr. 24 min. ago

Elizabeth Holmes trial Week 6 recap: Trouble with Safeway and Walgreens deals, and how a dermatologist became the startup"s lab director

Former Safeway and Walgreens executives testified about their companies' failed deals with Theranos. One said he had "never been more frustrated." Theranos founder Elizabeth Holmes leaves the Robert F. Peckham U.S. Courthouse with her mother Noel Holmes during her trial. Brittany Hosea-Small/Reuters The fraud trial of Theranos founder Elizabeth Holmes has concluded its sixth week. It included testimony about Theranos' failed Walgreens and Safeway deals. Here's everything that happened in the trial in its sixth week. "I have never been more frustrated"Former Safeway CEO Steven Burd returned to the stand, testifying that his company did at least 100 hours of due diligence on Theranos before signing a $400 million contract, according to CNBC. Burd spoke of frequent launch delays, lost blood samples, nonsensical test results, and a "poor patient experience," according to the Wall Street Journal. He added that he worried about Safeway's reputation.In late 2012, he wrote an email to Holmes with the subject line "Becoming Discouraged.""I can only recall having been discouraged once in the last 62 years," he wrote. "That said, I am getting close to my second event."On another occasion, he said, "We are so good together when we collaborate, but I have never been more frustrated. I want to help, but you are making it difficult." The deal dissolved in 2015."The haters are everywhere"Former Walgreens CFO Wade Miquelon testified that Walgreens agreed to pay Theranos a $100 million "innovation fee," along with $40 million in convertible notes. In August 2013, Holmes asked Walgreens to speed up the $100 million payment, Miquelon said.Shortly after the Wall Street Journal published its exposé on Theranos in 2015, Miquelon emailed Holmes words of encouragement."The haters are everywhere, but your contribution to the world cannot be bottled up," he wrote, according to the Journal. "You are going to help so many people in your lifetime it's absurd."How a dermatologist became a Theranos lab director Sunil Dhawan, a dermatologist for Theranos' former COO and President Sunny Balwani, testified that Balwani asked him to be Theranos' lab director, which Balwani said had a "minimal" time commitment, the Journal reports. Though Dhawan seemed an unusual choice, he met federal and state requirements. He testified that he rarely visited the lab and that he only worked five to 10 hours from November 2014 to the summer of 2015. He was paid $5,000 per month. Theranos disappointed on its biggest promise, former Walgreens exec saysFormer Walgreens executive Nimesh Jhaveri testified that the company was unaware that finger-stick samples were being tested on commercial third-party devices; Walgreens believed these tests were being run on Theranos' own devices. In 2014, roughly 40% of tests were still requiring vein draws instead of simple finger pricks, and Walgreens wanted to "get that number to zero." That never happened, despite Balwani's reassurance that venous draws would dip below 5% by the end of 2014, Jhaveri said.He said this was disappointing because running a variety of tests with a single fingerprick was Theranos' biggest selling point.Walgreens ultimately ended the partnership in 2016.Theranos' former senior project manager testifiesDaniel Edlin, a senior project manager at Theranos, testified that Theranos sometimes set up partitions to hide parts of its labs before giving tours. He also said he was once asked to set up a display of Theranos' MiniLab machines for guests to see on a tour, but he later learned these devices were never used for clinical patient testing.Edlin said he knew Theranos used third-party devices to run venous tests but wasn't aware the company also used them for finger-stick samples, according to KTVU.He ultimately left Theranos in 2016."I no longer believed based on what I was seeing that the company was capable of standing behind the claims it had been making about its technology," he said, according to the Journal.You can catch up on Week 1 here, Week 2 here, Week 3 here, Week 4 here, and Week 5 here. You can read how Holmes wound up on trial here and see the list of potential witnesses here. Everything else you need to know about the case is here.Read the original article on Business Insider.....»»

Category: topSource: businessinsider12 hr. 24 min. ago

Traders Are Pushing Oil, Rates, & The Dollar. Are They Right?

Traders Are Pushing Oil, Rates, & The Dollar. Are They Right? Authored by Lance Roberts via RealInvestmentAdvice.com, With inflation fears getting stoked by the mainstream media, traders are pushing oil, interest rates, and the dollar higher. Are they right? Or, are they about to get smacked by a slower economy and deflationary headwinds? Once a quarter, I dig into the Commitment of Traders data to see where speculators are making their bets. Such is an excellent metric to watch from a contrarian view. Generally, when traders are positioned either very long or short in a particular area, it is often a good bet something will reverse. Positioning Review The COT (Commitment Of Traders) data, which is exceptionally important, is the sole source of the actual holdings of the three critical commodity-trading groups, namely: Commercial Traders: this group consists of traders that use futures contracts for hedging purposes. Their positions exceed the reporting levels of the CFTC. These traders are usually involved with the production and processing of the underlying commodity. Non-Commercial Traders: this group consists of traders that don’t use futures contracts for hedging and whose positions exceed the CFTC reporting levels. They are typically large traders such as clearinghouses, futures commission merchants, foreign brokers, etc. Small Traders: the positions of these traders do not exceed the CFTC reporting levels, and as the name implies, these are usually small traders. The data we are interested in is the second group of Non-Commercial Traders (NCTs.) NCT’s are the group that speculates on where they believe the market will head. While you would expect these individuals to be “smarter” than retail investors, we find they are just as subject to “human fallacy” and “herd mentality” as everyone else. Therefore, as shown in the charts below, we can look at their current net positioning (long contracts minus short contracts) to gauge excessive bullishness or bearishness. Volatility  Since 2012, the favorite trade of bullish speculators has been to “short the VIX.” Shorting the volatility index (VIX) remains an extraordinarily bullish and profitable trade due to the inherent leverage in options. Leverage is one of those things that works great until it doesn’t. Currently, net shorts on the VIX are still very elevated but reduced from 2020 levels. However, speculators have once again started to increase their net short-positioning over the last several weeks as the market declined. The current positioning is large enough to fuel a more substantial correction if markets fail current support levels. Moreover, as noted on Tuesday, weekly signals suggest that downside risk is present. To wit: “The recent decline triggered both weekly signals for the first time since the March 2020 correction. (The chart below is the same model we use to manage 401k allocations. You can see therelated models and analysis here)“ Given that volatility has remained compressed during the entirety of the September correction, a break below recent support will trigger short-covering of VIX options. Such would also be coincident with a more significant decline in the index. Crude Oil Extreme Crude oil has gotten a lot more interesting as of late. After a brutal 2020, the price of oil futures going negative at one point, oil is now pushing above $80/bbl. Given current views of “inflation” from the massive liquidity infusions and supply chain disruptions, the focus on speculative positioning is not surprising. As shown in the monthly chart below, the price advance in crude oil is now back to historical extremes that have previously denoted tops in oil prices. As a result, the current extreme overbought, extended, and deviated positioning in crude will likely lead to a rather sharp correction. (The boxes denote previous periods of exceptional deviations from long-term trends.) The speculative long-positioning is driving the dichotomy in crude oil by NCTs. While levels fell from previous 2018 highs during a series of oil price crashes, they remain elevated at 398,307 net-long contracts and rising quickly. The good news is that oil did finally break above the long-term downtrend. However, it is too soon to know if these prices will “stick.”  Furthermore, the deflationary push and the dollar rally will likely derail oil prices if it continues. U.S. Dollar Rally Is Here As I stated earlier this year: “There are two significant risks to the entire ‘bull market’ thesis: interest rates and the dollar. For the bulls, the underlying rationalization for high valuations has been low inflation and rates. In February, we stated: Given an economy that is pushing $87 trillion in debt, higher rates and inflation will have immediate and adverse effects:“ The Federal Reserve gets forced to begin talking tapering QE, and reducing accommodation; and, The consumer will begin to contract consumption as higher costs pass through from producers.  “Given that personal consumption expenditures comprise roughly 70% of economic growth, higher inflation and rates will quickly curtail the ‘reflation’ story.‘ A few months later, the Fed started to talk about tapering their balance sheet purchases. With the market currently priced for perfection, the disappointment of economic growth caused by the rising dollar, interest rates, and a contraction in consumer spending is a significant risk to the market. As shown, the rally in the dollar is already starting to weaken the inflationary impact of higher import prices and suggests a peak in CPI. The one thing that always trips the market is what no one is paying attention to. For me, that risk lies with the US Dollar. As noted previously, everyone expects the dollar to continue to decline, and the falling dollar has been the tailwind for the emerging market, commodity, and equity risk-on trade.  As noted previously, “Whatever causes the dollar to reverse will likely bring the equity market down with it.” The dollar has been rising very quietly, and traders are becoming more aggressively long the dollar trade. Interest Rate Conundrum Over the latest several years, I have repeatedly addressed why financial market “experts” remain confounded by rates failing to rise. In March 2019, I wrote: “The Bond Bull Market,” which followed our earlier calls for a sharp drop in rates as the economy slowed. At that time, the call was a function of the extreme “net-short positioning” in bonds, which suggested a counter-trend rally was likely. Then, in March 2020, unsurprisingly, rates fell to the lowest levels in history as economic growth collapsed. Notably, while the Federal Reserve turned back on the “liquidity pumps,” juicing markets to all-time highs, bonds continue to attract money for “safety” over “risk.”  Recently, “bond bears” have again returned, suggesting rates must rise because of inflationary concerns. However, again, such is unlikely as economic growth is quickly stalling as liquidity runs dry. Currently, traders are more aggressively long contracts suggesting rates could still rise a bit further. However, while there is upside to rates, it is likely limited to less than 2% before economic growth gets impacted. Conclusion The markets are oversold enough on a short-term basis to rally. However, numerous headwinds are mounting from higher rates, inflation, oil prices, and the dollar. So while traders are piling into inflationary trade, they are likely going to be disappointed. While the markets can undoubtedly discount these headwinds short-term, they won’t be able to do it indefinitely. Such is why we remain concerned over the weekly and monthly “sell signals,” which are suggestive of increasing risk. The biggest problem is that technical indicators do not distinguish between a consolidation, a correction, or an outright bear market. As such, if you ignore the signals as they occur, by the time you realize it’s a deep correction, it is too late to do much about it. I suggest that with our “sell signals” triggered, taking some action could be beneficial.  Trim back winning positions to original portfolio weights: Investment Rule: Let Winners Run Sell positions that simply are not working (if the position was not working in a rising market, it likely won’t in a declining market.) Investment Rule: Cut Losers Short Hold the cash raised from these activities until the next buying opportunity occurs. Investment Rule: Buy Low There is minimal risk in “risk management.” In the long term, the results of avoiding periods of severe capital loss will outweigh missed short-term gains. Tyler Durden Fri, 10/15/2021 - 14:12.....»»

Category: smallbizSource: nyt15 hr. 8 min. ago

New airline ITA has officially taken over for Alitalia - see the full history of Italy"s troubled flag carrier

Alitalia has officially ceased operations and handed the baton to newcomer ITA, which stands for Italian Air Transport. ITA Airways Chairman Alfredo Altavilla poses with rendering of new livery ITA Press Office/Handout via REUTERS Government-owned Alitalia ceased operations on October 15, marking the end of its 74-year era. Alitalia has been replaced by ITA Airways, a brand new airline that will not be responsible for the old carrier's debt. ITA plans to buy 28 Airbus jets, create a new aircraft livery, and launch a new loyalty program. Alitalia has officially ceased operations and handed the baton to newcomer ITA Airways, which stands for Italian Air Transport.Italy's national carrier Alitalia has had a rocky past full of financial struggles, employee strikes, and other damaging events, forcing it to make the decision to cease operations on October 15 after 74 years of service. The airline stopped the sale of tickets in August and has committed to refunding all passengers who were booked on flights after October 14.On Thursday, the airline flew its final flight from Cagliari, Italy to Rome, according to FlightAware, officially sealing the fate of Alitalia. On Friday, the country's new flag carrier ITA took its place with a new livery, airplanes, and network, flying its first route from Milan Linate Airport to Bari International Airport in southern Italy.-João ☕ (@joaointhesky) October 14, 2021 Here's a look at Alitalia's storied past and the plan of its successor. Alitalia as a brand began in 1946, one year after World War II ended, first flying in 1947 within Italy and quickly expanding to other European countries and even opening intercontinental routes to South America. Passengers disembarking from an Alitalia Douglas DC-3 aircraft. Archivio Cameraphoto Epoche/Getty Source: Boeing and Alitalia The full name of the airline was Italian International Airlines, a joint effort between the United Kingdom through British European Airways - a precursor to British Airways - and the Italian government. A British European Airways Vickers Viscount. Museum of Flight/CORBIS/Corbis via Getty Source: Boeing and Alitalia True to its name, Alitalia flew its first with Italian aircraft produced by now-defunct manufacturers in aerospace including Fiat and Savoia-Marchetti. An Alitalia Fiat G-12. Touring Club Italiano/Marka/Universal Images Group via Getty Source: Boeing and Alitalia Following a merger with Italy's other airline, aptly named Italian Airlines or Linee Aeree Italiane, in 1957, Alitalia - Linee Aeree Italiane became Italy's top carrier. A Linee Aeree Italiane Douglas DC-3. Touring Club Italiano/Marka/Universal Images Group/Getty Source: Boeing and Alitalia Armed with a sizeable fleet of 37 aircraft including the four-engine Douglas DC-6 and Corvair 340, the airline was ranked 12 in the world for international carriers. Passengers disembarking an Alitalia aircraft. Touring Club Italiano/Marka/Universal Images Group via Getty Source: Boeing and Alitalia As Europe returned to normalcy following the war, so did Italy and the 1960s became a pivotal decade for both the country and its airline as the 1960 Summer Olympics would be held in Rome. An Alitalia poster highlighting the upcoming Olympic Games in Rome. David Pollack/Corbis via Getty Source: Boeing and Alitalia The year saw Alitalia carry over one million passengers, introduce jets into its fleet, and move to a new home at Rome's Fiumicino Airport. Rome's Leonardo da Vinci Fiumicino Airport in 1961. Carlo Bavagnoli/Mondadori via Getty Source: Boeing and Alitalia Alitalia entered the jet age with a mix of European and American aircraft such as the Sud Caravelle SE210… An Alitalia Sud Caravelle. Touring Club Italiano/Marka/Universal Images Group/Getty Source: Boeing and Alitalia And the Douglas DC-8. An Alitalia DC-8. Adams/Fairfax Media via Getty Source: Boeing and Alitalia American aircraft largely comprised the airline's fleet once settled into the jet age with a short-haul fleet featuring the McDonnell Douglas DC-9 and later the McDonnell Douglas MD-80... An Alitalia MD-80. Etienne DE MALGLAIVE/Gamma-Rapho/Getty Source: Boeing and Alitalia Complemented by a similarly American-dominated long-haul fleet consisting of aircraft such as the Boeing 747. An Alitalia Boeing 747 chartered by Pope John Paul II. Scott Peterson/Liaison/Getty Source: Boeing and Alitalia The arrival of the 747 was a seminal moment for Alitalia and it was the first aircraft to wear the airline's famed green, white, and red livery with an "A" shape on the tail. Alitalia's red and green "A" tail design. Etienne DE MALGLAIVE/Gamma-Rapho/Getty Source: Boeing and Alitalia Alitalia was the first European airline to transition fully into the jet age and continued the switch with more wide-body aircraft such as the Airbus A300. An Alitalia Airbus A300. aviation-images.com/Universal Images Group/Getty Source: Boeing and Alitalia Other aircraft that would join the Alitalia jet fleet included the McDonnell Douglas MD-11, McDonnell Douglas DC-10... An Alitalia McDonnell Douglas MD-11. Education Images/Universal Images Group/Getty Source: Boeing and Alitalia And Boeing 767-300ER for long-haul flights. An Alitalia Boeing 767-300ER. JOKER/Hady Khandani/ullstein bild/Getty Source: Boeing and Alitalia Alitalia even had uniforms designed by Georgio Armani, who also contributed to aircraft interior designs. Italian designer Georgio Armani. Vittoriano Rastelli/CORBIS/Corbis via Getty Source: Alitalia The airline's short-haul fleet later included a European favorite, the Airbus A320 family. An Alitalia Airbus A320 airplane approaches to land at Fiumicino airport in Rome Reuters Source: Boeing As Italy's national airline, Alitalia was also known for flying the Pope with the papal plane using the flight number AZ4000, better known as Shepherd One An Alitalia plane chartered by the Pope. AP Photo/Plinio Lepri Source: Telegraph Despite rising traffic throughout its history with Italy being a popular European tourist and leisure destination, the airline struggled with profitability. Alitalia check-in desks at Rome's Fiumicino Airport. ANDREAS SOLARO/AFP/Getty As a state-owned airline, Alitalia could always depend on the government to keep it flying, until the European Union stepped in and forbade financial support in 2006. An Alitalia Airbus A330. AP Photo/Riccardo De Luca Source: New York Times The 2000s then saw serious discussion into Alitalia's future with the Italian government wanting to sell its stake in the airline. The airline was opened for bidders in 2007 but yielded no results. A crow flying passed an Alitalia plane. AP Photo/Gregorio Borgia Source: New York Times Air France-KLM Group, the parent company of Air France and KLM as well as several smaller European airlines, then offered to buy the struggling airline but couldn't get labor unions on board and the deal collapsed. Alitalia and Air France-KLM Group signage. FILIPPO MONTEFORTE/AFP via Getty Source: Reuters The Italian government, not wanting to lose its flag carrier, continued to prop up its airline via emergency loans in violation of European Union rules. The European Commission in Brussels. Greg Sandoval/Business Insider Source: European Union The third attempt in two years to sell the airline came after the Air France-KLM Group deal collapsed with an investors group forming the Compagnia Aerea Italiana to purchase the airline, despite heavy pushback from labor unions. An Alitalia Boeing 777. VINCENZO PINTO/AFP/Getty Source: Reuters This Alitalia began operations in 2009, with Air France-KLM soon coming back into the picture taking a 25% stake from CAI. Alitalia meeting with Air France, Delta, and KLM executives. ALBERTO PIZZOLI/AFP via Getty Source: Financial Times The new airline quickly began differentiating itself from its former self, leasing aircraft instead of purchasing them with the fleet consisting of the Airbus A330 family… An Alitalia Airbus A330. Alberto Lingria/Reuters Source: FlightGlobal And Boeing 777 family comprising the airline's long-haul fleet. An Alitalia Boeing 777. Abner Teixeira/Getty Source: FlightGlobal It wasn't long before Alitalia was plagued with issues ranging from union strikes to underperforming subsidiaries and even a sting operation that saw Alitalia employees arrested for theft, according to contemporaneous news reports. Alitalia workers protesting at Fiumicino Airport. AP Photo/Alessandra Tarantino Source: New York Times and BBC With bankruptcy looming in 2013, Alitalia secured another bailout with help from the government that highlighted the need for restructuring. An Alitalia Airbus A320. AP Photo/Antonio Calanni Source: New York Times Alitalia saw a new investor in 2015, Eithad Airways, which would take a 49% stake in the airline and Alitalia - Compagnia Aerea Italiana became Alitalia - Societa Aerea Italiana. Alitalia and Etihad celebrating a new partnership. AP Photo/Antonio Calanni Source: Alitalia With a new investor in tow, Alitalia began cost-cutting measures but facing a backlash from employees due to planned job cuts, the airline began bankruptcy proceedings and the government announced Alitalia would be auctioned. Alitalia and Etihad's merger livery. AP Photo/Antonio Calanni Source: Reuters Meanwhile, another airline was positioning itself to become the new Italian flag carrier, the aptly named Air Italy. An Air Italy Airbus A330-200. Air Italy Rebranded from Meridiana, a regional Italian airline, Air Italy was jointly owned by private company Alisarda and Qatar Airways. A Qatar Airways Boeing 777-200LR. Thomas Pallini/Business Insider The airline chose Milan as its main hub ceding Rome to Alitalia. Long-haul flights from Milan to New York began in June 2018, with expansion to Asia happening soon after. Air Italy's inaugural ceremony for Milan-New York flights. David Slotnick/Business Insider Affected by the grounding of the Boeing 737 Max and without the Italian government as a benefactor, Air Italy closed up shop in early 2020, giving back full control of Italy to Alitalia. An Alitalia Airbus A320. ALBERTO PIZZOLI/AFP/Getty While Air Italy was getting its start, the Italian government would once again seek outside investors with European, North American, and Asian airlines expressing interest in Alitalia. Alitalia aircraft in Italy. Alberto Lingria/Reuters Among those interested were UK low-cost carrier EasyJet... EasyJet airplanes are pictured at Tegel airport in Berlin. Reuters Source: Bloomberg Irish low-cost carrier Ryanair… A Ryanair commercial passenger jet takes off in Blagnac near Toulouse. Reuters Source: The Guardian The Lufthansa Group… Strike of Germany's cabin crew union UFO at Frankfurt airport. Reuters Source: CNBC Delta Air Lines… A Delta Air Lines Boeing 777-200. James D. Morgan/Getty Source: Bloomberg And China Eastern Airlines… A China Eastern Airlines Airbus A320. REUTERS/Jon Woo Source: Reuters As well as Italian railway group Ferrovie dello Stato Italiane. A Ferrovie dello Stato Italiane train. TIZIANA FABI/AFP via Getty Source: Reuters One after the other, the airlines dropped their interest, and ultimately, the Italian government re-nationalized the airline on March 17 during the coronavirus pandemic. Alitalia was re-nationalized amid the coronavirus pandemic. Budrul Chukrut/SOPA Images/LightRocket/Getty Source: Reuters  Despite bailouts from the state, the pandemic and subsequent lockdown of Italy took the ultimate toll on Alitalia, forcing it to make the decision to close the airline and launch a new one. Alitalia aircraft at the Frankfurt airport Vytautas Kielaitis/Shutterstock Source: The Local On August 25, the airline stopped selling tickets and announced on its website that it would be offering free flight changes or refunds for passengers booked on Alitalia flights after October 14. People at Alitalia check in counter TK Kurikawa/Shutterstock Source: The Local When the airline ceased operations, its successor, Italia Transporto Aereo, took its place. Alitalia's last flight flew from Cagliari, Italy to Rome on October 14, and ITA launched operations with a flight from Milan to Bari, Italy on October 15. ITA app and logo rarrarorro/Shutterstock Source: AeroTime Talks between the European Commission and Italy over Alitalia and ITA began in March 2021, with Rome designating 3 billion euros ($3.6 billion) to establish the new flag carrier. ITA signage at Catania airport rarrarorro/Shutterstock Source: Reuters Initially, ITA was slated to begin operations in April 2021, but lengthy discussions between Italy and the European Commission delayed its launch. Flags outside European Commission building in Brussels VanderWolf Images/Shutterstock Source: Reuters Part of the negotiations focused on confirming ITA's independence of Alitalia to ensure it did not inherit the billions of debt the old carrier owed to the state. Alitalia Airbus A319 Wirestock Creators/Shutterstock Source: Reuters Talks also included asking ITA to forfeit half of Alitalia's slots at Milan Linate Airport, which the airline was unwilling to do. Alitalia aircraft sit at Milan Linate airport Gabriele Maltinti/Shutterstock Source: Reuters ITA determined giving up that many slots at Linarte would be too big of a loss and proposed forfeiting slots at Rome Fiumicino Airport as a compromise. Alitalia check in counter Leonardo da Vinci Fiumicino airport TK Kurikawa/Shutterstock Source: Reuters At the end of the discussions, negotiators agreed to allow ITA to keep 85% of slots at Linate and 43% at Fiumicino. Green ribbon barrier with the ITA airline logo inside the Leonardo da Vinci airport rarrarorro/Shutterstock Source: Reuters Also under negotiation was Alitalia's brand and its loyalty program, MilleMiglia. The European Commission said ITA would have to give up both. Alitalia Airbus A320 Yaya Photos/Shutterstock Source: Reuters Under European Commission rules, MilleMiglia cannot be bought by ITA and must be put out for public tender, meaning another airline or entity outside the aviation industry can purchase the program. There are an estimated five million MilleMiglia miles that customers have not been able to use. Customer checking into an Alitalia flight Sorbis/Shutterstock Source: EuroNews However, ITA was able to bid on Alitalia's brand, which it did the day before its launch. The airline bought the Alitalia name for €90 million ($104 million), though ITA executives say they don't plan on replacing the ITA name. Alitalia aircraft Light Orancio/Shutterstock Source: Reuters ITA began operations on October 15, the day after Alitalia's last flight. The new airline secured €700 million ($830 million) in funding earlier this year, which helped it purchase some of Alitalia's assets. Alitalia employees with new livery in 2015 Simone Previdi/Shutterstock Source: Reuters The successor acquired 52 of Alitalia's aircraft, seven being wide-bodies, and has plans to purchase and lease new ones, the first of which will enter the fleet in early 2022. Alitalia Boeing 777 Deni Williams/Shutterstock Source: Reuters By 2025, the airline expects to have 105 aircraft in its fleet and earn over 3.3 billion euros in revenue. ITA logo with Alitalia aircraft Yaya Photos/Shutterstock Source: Reuters, Airways Magazine Moreover, ITA plans to renew its fleet with next-generation aircraft, which is expected to make up 77% of its fleet in four years. According to ITA, the aircraft will reduce CO2 emissions by 750 thousand pounds from 2021 to 2025. Milan Linate Airport Alexandre Rotenberg/Shutterstock Source: Airways Magazine, ITA Airways The 31 new-generation planes, which include short, medium, and long-haul aircraft, will be leased by Air Lease Corporation. Airbus A320neo Airbus Source: Airways Magazine Meanwhile, 28 new Airbus jets, including ten Airbus A330neos, seven Airbus A220 family aircraft, and 11 Airbus A320neo family jets, will be purchased. Airbus A220 Airbus Source: Airways Magazine As part of a carbon-reducing project, the first 10 flights to depart Rome on October 15 will use sustainable aviation fuels made by Italian energy company Eni. The project will contribute to the EU's "Fit for 55" proposal, which strives to reduce carbon emissions by at least 55% by 2030. Eni headquarters in Rome MyVideoimage.com/Shutterstock Source: Airways Magazine ITA introduced a new livery on launch day, which includes a light blue paint scheme representing unity, cohesion, and pride of the nation, as well as homage to Italy's national sports team, which wears sky blue during competitions. On the tail will be the Italian tricolor of red, white, and green. ITA Airways Chairman Alfredo Altavilla poses with rendering of new livery ITA Press Office/Handout via REUTERS Source: Airways Magazine In regards to its network, the carrier launched with 59 routes to 44 destinations. ITA plans to increase its routes to 74 in 2022 and 89 by 2025, while destinations are expected to increase to 58 in 2022 and 74 by 2025. ITA logo ITA Airways Source: Airways Magazine ITA will focus its operation out of Rome's Leonardo da Vinci International Airport and Milan Linate Airport, establishing itself as a "reference airline" for both business and leisure travelers. bellena/Shutterstock.com Source: Airways Magazine The carrier also plans to target the North American market, with flights from Rome to New York launching on November 4. Joey Hadden/Insider Source: CNN As for the over 11,000 Alitalia workers, 70% were hired to work for ITA, which has 2,800 employees. 30% of that came from outside Alitalia. The company plans to add 1,000 new jobs in 2022 and reach 5,750 employees by 2025. Alitalia staff at Milan Linate Sorbis/Shutterstock Source: Reuters, Airways Magazine ITA plans to improve upon Alitalia's services, including incentivizing good customer service by attaching employee salary with customer satisfaction. Alitalia staff Sorbis/Shutterstock Source: CNN ITA has set up a loyalty program called Volare, effective October 15, which is split into four levels: smart, plus, premium, and executive. Customers can use accrued points for any flight in ITA's system. ITA app rarrarorro/Shutterstock Source: Airways Magazine According to ITA executives, the company plans to join a major international alliance, though it has not stated which one it prefers. Alitalia was aligned with the SkyTeam alliance, which is comprised of carriers like Delta, Air France, and KLM. Alitalia Embraer 190LR SkyTeam livery InsectWorld/Shutterstock Source: CNN, Reuters However, ITA chairman Alfredo Altavilla said it was open to all options. "ITA can't be a stand-alone carrier forever," he said. Alitalia Boeing 767 SkyTeam livery Eliyahu Yosef Parypa/Shutterstock Source: Reuters While it is the end of an era with the closing of Alitalia, there are high hopes for its successor. "ITA Airways has been created to intercept the recovery of air traffic in the coming years on the strength of the foundations of its strategy: sustainability, digitalization, customer focus, and innovations," said ITA CEO Fabio Lazzerini. Alitalia plane with ITA logo Yaya Photos/Shutterstock Source: Airways Magazine Read the original article on Business Insider.....»»

Category: personnelSource: nyt15 hr. 24 min. ago

Domino"s has a shortage of delivery drivers, so its CEO is hoping you"ll drive to the restaurant to pickup your pizza instead

Domino's same-store sales fell last quarter for the first time in a decade, and management is blaming a shortage of workers including delivery drivers. Sunday Alamba / AP Images Domino's same-store sales fell last quarter for the first time in a decade. Pizza chains thrived during the pandemic with delivery. Now, a lack of drivers may be ending the pizza boom. In Domino's just-released earnings results, and same-store sales dropped for the first time in 10 years. Before the 1.9% decline in sales of the last three months, the pandemic created a boom for pizza businesses. Domino's, like other pizza chains, was able to keep nearly all US stores open as other restaurants were forced to shut down dining rooms. Early on in the pandemic, restaurant industry analysts Saleh and Roger Lipton named Domino's as one of the chain's best positioned to survive the pandemic. Pizza chains had a major advantage over competitors for the last year and a half. They already had the infrastructure and customer base for delivery - on-premise dining was a much smaller part of their business than other chains, so they had less business to lose. Growth was strongest in the early days of the pandemic, with same-store sales growth topping 10% in the second, third, and fourth quarters of 2020. Shrinking sales might not reflect lower demand, but Domino's doesn't have enough workers to keep up the earlier pace. CEO Richard Allison acknowledged the labor shortage as an issue for the chain in an earnings call, saying "staffing has been a challenge." Business owners across the industry say they're unable to find staff and in some cases even cite a lack of desire to work, while workers say they can demand better pay and benefits in the tight labor market.Allison said that overall staffing levels in the quarter were lower in the first half of 2021. While there are labor shortages across the business, the chain is most lacking drivers, he said. Domino's plans to focus on growing carryout orders, which do not require drivers, Allison said. Do you have a story to share about a retail or restaurant chain? Email this reporter at mmeisenzahl@businessinsider.com.Read the original article on Business Insider.....»»

Category: personnelSource: nyt15 hr. 24 min. ago

Watch NASA launch a spacecraft to explore ancient asteroids that lead and trail Jupiter around the sun

The Trojan asteroids have barely changed since the birth of our solar system. NASA's Lucy mission aims to spend 12 years exploring them. An illustration showing the Lucy spacecraft passing one of the Trojan Asteroids near Jupiter. Southwest Research Institute On Saturday, NASA plans to launch its Lucy probe to the Trojan asteroids that orbit the sun with Jupiter. The Trojans are like fossils, unchanged since the solar system was born 4.6 billion years ago. Lucy aims to visit eight asteroids - a record number of encounters. See more stories on Insider's business page. NASA is about to launch an ambitious mission to explore swarms of asteroids as old as our solar system.Those asteroids, called Trojans, orbit the sun alongside Jupiter. One group of them leads the gas giant along its orbital path, and another group trails behind. These space rocks formed during the birth of our solar system nearly 4.6 billion years ago and have remained largely unchanged ever since. A United Launch Alliance Atlas V rocket launches from Cape Canaveral, Florida, November 18, 2013. NASA/Bill Ingalls Scientists want to find out what those time capsules hold, so NASA is sending a 52-foot-wide spacecraft, called Lucy, to investigate. The probe is set to launch aboard an Atlas V rocket from Cape Canaveral, Florida, on Saturday morning.Lucy is scheduled to visit eight asteroids over the next 12 years. One of those space rocks is in the solar system's main asteroid belt, between Mars and Jupiter, which Lucy will pass on its way to the other seven asteroids, which are part of the Trojans."These objects we view as being the fossils of planet formation," Hal Levison, the mission's principal investigator, said in a briefing last month. An illustrated model of the Trojan asteroids - one swarm leading Jupiter in its orbit and the other following it. Astronomical Institute of CAS/Petr Scheirich That's where Lucy gets its name - it's a reference to the famous 3.2-million-year-old fossilized human ancestor. At the time of her discovery, in 1974, Lucy was the oldest, most complete hominin skeleton ever found. She was evidence that human ancestors walked upright, which helped paleoanthropologists piece together humans' evolutionary history. Scientists hope that Trojan asteroids can do the same for the outer solar system."Some of the most important planetary science questions we're trying to answer are focused on the origin and the evolution of the solar system. Asteroids and other small bodies are really important keys to understanding that history," Lori Glaze, NASA's director of planetary science, said in the briefing. Workers inside the Astrotech Space Operations Facility in Titusville, Florida, move the first half of the rocket's payload fairing toward NASA’s Lucy spacecraft on September 30, 2021. NASA/Ben Smegelsky Lucy's planned journey would lead it to visit more asteroids than any prior spacecraft. It will also venture further from the sun than any solar-powered probe has ever gone.Watch live as Lucy launches into spaceLiftoff is scheduled for 5:34 a.m. ET on Saturday. NASA plans to start its live launch broadcast at 5 a.m. in the video embedded below.If weather delays the launch, NASA has another 22 days in its window, with an hour-long launch opportunity each morning.Close encounters of the asteroid kind An illustration of the Trojan asteroids leading and following Jupiter. NASA/JPL-Caltech Lucy's mission is seven years in the making. The original plan called for visits to just two asteroids, but NASA grew more ambitious as engineers and scientists designed the spacecraft and plotted its journey.Now, the probe has a record-breaking lineup. Some of its eight stops are two-for-ones: One asteroid has its own satellite - a smaller rock trapped in its orbit - and two of Lucy's targets are a pair of binary asteroids that circle each other.But Lucy's encounter with each space rock will be brief. The spacecraft can't slow down or land - that would require too much propellant - so it will zip within 600 miles of their surfaces, moving 3 to five 5 miles per second.During the few hours in which it approaches and passes the asteroids, Lucy's scientific instruments will collect data on their composition, density, and size. It could even discover rocks or rings circling the asteroids - features too small to see from Earth.By the end of Lucy's journey, NASA expects to have spent $981.1 million on the mission, according to Glaze.Lucy has to revisit Earth 3 times to hit its targets A diagram illustrating Lucy's orbital path, including three Earth flybys. Southwest Research Institute Scientists have identified over 7,000 Trojan asteroids, split into three major types. One group resembles the space rocks in the asteroid belt between Mars and Jupiter, while the other two resemble icy objects in the Kuiper Belt on the outskirts of the solar system.This suggests that the various types of Trojans formed through different processes, and in different parts of the solar system. Scientists aren't sure how they ended up together along Jupiter's orbit. So Lucy will visit asteroids of each type in an attempt to find out."Covering this diversity is key. And finding a trajectory that actually will allow us to visit all these types of objects has been a real chore," Levison said.To reach all of its destinations, in fact, Lucy has to circle back to Earth three times to get a momentum boost from our planet's gravity. That will make it the first spacecraft to travel to Jupiter's orbit and back.NASA is going all in on asteroids An illustration of the DART spacecraft approaching its target asteroid. NASA/Johns Hopkins APL NASA is sending probes to asteroids scattered all over the solar system."Lucy is part of a collection of ambitious missions to study the diversity of these asteroid populations that will help us fill in more pieces of that cosmic puzzle," Glaze said.NASA's New Horizons spacecraft has been studying asteroids and other objects in the Kuiper Belt, beyond Neptune, since it flew past Pluto in 2015.The agency's OSIRIS-REx spacecraft, meanwhile, landed on an asteroid last year, punched into its surface, and scooped a sample of rock. That probe is on its way back to Earth with the sample in tow. Japan recently completed a similar mission and brought its own asteroid samples to Earth, so NASA and Japan's space agency plan to trade bits of their samples. The OSIRIS-REx spacecraft's sample arm touches down on the surface of asteroid Bennu. NASA/Goddard/University of Arizona Other missions aim to prepare for the possibility that an asteroid could strike our planet. Next month, NASA plans to launch a spacecraft to slam into a nearby asteroid. That mission, called the Double Asteroid Redirection Test (DART), is testing a method that could deflect space rocks off of a collision course with Earth. NASA is also working on a new space telescope, called NEO (near-Earth object) Surveyor, which would help scientists catalogue dangerous asteroids in our neighborhood.Next year, NASA plans to launch yet another probe, called Psyche, to a metallic asteroid that could be the leftover core of an ancient planet."All of these are incredibly interesting destinations. And in each case, we're exploring places no spacecraft has ever been, so we won't know for sure what we'll discover till we get there," Glaze said. "But we know that whatever Lucy finds will give us vital clues about the formation of our solar system."This post has been updated. It was originally published on October 7, 2021.Read the original article on Business Insider.....»»

Category: smallbizSource: nyt17 hr. 8 min. ago

Embraer (ERJ) Upgraded to Strong Buy: Here"s What You Should Know

Embraer (ERJ) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term. Embraer (ERJ) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.As such, the Zacks rating upgrade for Embraer is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.For Embraer, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>>.Earnings Estimate Revisions for EmbraerThis plane and jet manufacturer is expected to earn -$0.37 per share for the fiscal year ending December 2021, which represents a year-over-year change of 85.3%.Analysts have been steadily raising their estimates for Embraer. Over the past three months, the Zacks Consensus Estimate for the company has increased 59.3%.Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of 'buy' and 'sell' ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a 'Strong Buy' rating and the next 15% get a 'Buy' rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.You can learn more about the Zacks Rank here >>>The upgrade of Embraer to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report EmbraerEmpresa Brasileira de Aeronautica (ERJ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks20 hr. 8 min. ago

A NASA advisor quits after the agency keeps a $10 billion telescope named after James Webb, who was a senior State Department official during the persecution of gay and lesbian government employees

More than 1,200 people, including NASA advisor Lucianne Walkowicz, signed an open petition calling for the James Webb space telescope to be renamed. A NASA advisor has quit after the agency decided to keep the name of James Webb space telescope. NASA/Chris Gunn A NASA advisor quit after the agency decided to keep a space telescope named after James Webb. Webb was undersecretary of state during the dismissal of gay and lesbian federal employees in the 1950s. Lucianne Walkowicz said NASA's decision showed the agency "does not deserve my time." A NASA advisor has quit following the agency's decision to keep naming a $10 billion space telescope after a former administrator who was US undersecretary of state during the dismissal of gay and lesbian federal employees in the 1940s and 1950s.Lucianne Walkowicz, who identifies as nonbinary, wrote an open letter to NASA's Astrophysics Advisory Committee (APAC) on Tuesday, saying that they were resigning as an advisor over the way the agency had handled a request to rename the James Webb space telescope.More than 1,200 people, including Walkowicz, have signed an open petition calling for the James Webb space telescope to be renamed. The petition cited the persecution of gay and lesbian government workers while Webb was US undersecretary of state from 1949 to 1952. This was during the period referred to as the "Lavender Scare," when thousands of federal employees were dismissed or forced to resign because of their sexuality. The open petition also mentioned the former NASA employee Clifford L. Norton, who was fired in the 1960s after NASA said he made a "homesexual advance" amounting to "immoral, indecent, and disgraceful conduct," per a record of the case on Justia, a website that keeps online databases of legal cases. The incident that led to Norton's dismissal happened while Webb was NASA administrator.NASA's decision to keep the space telescope named after Webb "sends a clear message of NASA's position on the rights of queer astronomers," Walkowicz said in the open letter. "It also speaks clearly to me that NASA does not deserve my time," they said.NASA didn't immediately respond to Insider's request for comment. The agency told NPR on September 30, before Walkowicz resigned, that it had investigated the matter and had found no evidence that would warrant changing the telescope's name.Walkowicz did not respond to Insider's request for comment.Webb ran NASA from 1961 to 1968, a period that included the Apollo moon program. He retired shortly before the first moon landing in 1969, and died in 1992. NASA says on its Goddard Space Flight Center webpage that many people believe that Webb "did more for science than perhaps any other government official and that it is only fitting that the Next Generation Space Telescope would be named after him."On the same day that NASA told media outlets, such as NPR, about its decision to not rename the telescope, Walkowicz said they were hit by a car. They said in the letter that they were currently on leave to recover from their injuries. The space telescope, projected to cost nearly $10 billion, is expected to scan the universe for life-hosting planets and attempt to look back in time to photograph the Big Bang, Insider's Morgan McFall-Johnsen previously reported. The telescope completed testing in August and arrived at its launch location in French Guiana Tuesday. It is scheduled to be launched December 18.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 15th, 2021

A NASA advisor quits after the agency keeps a $10 billion telescope named after James Webb, who was a senior official during the persecution of gay and lesbian government employees

More than 1,200 people, including NASA advisor Lucianne Walkowicz, signed an open petition calling for the James Webb space telescope to be renamed. A NASA advisor has quit after the agency decided to keep the name of James Webb space telescope. NASA/Chris Gunn A NASA advisor quit after the agency decided to keep a space telescope named after James Webb. Webb held a senior government role during the dismissal of gay and lesbian employees in the 1950s. Lucianne Walkowicz said NASA's decision showed the agency "does not deserve my time." A NASA advisor has quit following the agency's decision to keep naming a $10 billion space telescope after a former administrator who held a senior government role during the dismissal of gay and lesbian federal employees in the 1940s and 1950s.Lucianne Walkowicz, who identifies as nonbinary, wrote an open letter to NASA's Astrophysics Advisory Committee (APAC) on Tuesday, saying that they were resigning as an advisor over the way the agency had handled a request to rename the James Webb space telescope.More than 1,200 people, including Walkowicz, have signed an open petition calling for the James Webb space telescope to be renamed. The petition cited the persecution of gay and lesbian government workers while Webb was US undersecretary of state from 1949 to 1952. This was during the period referred to as the "Lavender Scare," when thousands of federal employees were dismissed or forced to resign because of their sexuality. The open petition also mentioned the former NASA employee Clifford L. Norton, who was fired in the 1960s after NASA said he made a "homesexual advance" amounting to "immoral, indecent, and disgraceful conduct," per a record of the case on Justia, a website that keeps online databases of legal cases. The incident that led to Norton's dismissal happened while Webb was NASA administrator.NASA's decision to keep the space telescope named after Webb "sends a clear message of NASA's position on the rights of queer astronomers," Walkowicz said in the open letter. "It also speaks clearly to me that NASA does not deserve my time," they said.NASA didn't immediately respond to Insider's request for comment. The agency told NPR on September 30, before Walkowicz resigned, that it had investigated the matter and had found no evidence that would warrant changing the telescope's name.Walkowicz did not respond to Insider's request for comment.Webb ran NASA from 1961 to 1968, a period that included the Apollo moon program. He retired shortly before the first moon landing in 1969, and died in 1992. NASA says on its Goddard Space Flight Center webpage that many people believe that Webb "did more for science than perhaps any other government official and that it is only fitting that the Next Generation Space Telescope would be named after him."On the same day that NASA told media outlets, such as NPR, about its decision to not rename the telescope, Walkowicz said they were hit by a car. They said in the letter that they were currently on leave to recover from their injuries. The space telescope, projected to cost nearly $10 billion, is expected to scan the universe for life-hosting planets and attempt to look back in time to photograph the Big Bang, Insider's Morgan McFall-Johnsen previously reported. The telescope completed testing in August and arrived at its launch location in French Guiana Tuesday. It is scheduled to be launched December 18.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderOct 15th, 2021