Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Sunday, May 31, 2020

America Returns to Space


Amid the coronavirus pandemic and the unrest related to the death of George Floyd, the US has something to celebrate. For the first time since 2011, a US spacecraft has carried Americans into space, and for the first time a private corporation, SpaceX, was responsible for the development of a manned spacecraft.

The spacecraft, a Crew Dragon, lifted off on Friday. The first attempt to launch was canceled on May 27 because of bad weather related to Tropical Storm Bertha. While thunderstorms were in some neighboring areas to the launch site on Friday, they were not close enough to cause the launch to be scrubbed.


Thursday, April 30, 2020

Reopenings Slowly Begin as Coronavirus Pandemic Continues


Some states will begin efforts to reopen more portions of their economy after over a month of widespread lockdowns and stay at home orders aimed at preventing the spread of the coronavirus SARS-CoV-2, the virus which causes the disease COVID-19.

Earlier this month, a coalition of northeastern US governors formed in an effort to coordinate efforts to allow certain businesses to reopen. The Northeast has been hit especially hard by the pandemic, with New York and New Jersey composing the most active hotspot for new infections, and Massachusetts recently emerging as a center of new cases. Other hotspots include Michigan (especially the Detroit metropolitan area) as well as Louisiana.

Texas is the largest state so far to announce large-scale reopening efforts. For example, on Friday restaurants will be allowed to serve at 25% seating capacity, with counties with less than five confirmed cases (mostly rural and low population) will be allowed to reopen at 50% capacity. Over time the capacity allowance will be increased if the number of infections remains stable or decreases. While Texas has been spared the worst of the coronavirus pandemic, concerns over new infections linger, with Lamar County (home of Paris, Texas) reporting a stark increase in infections just before reopening efforts. Bars and movie theaters will continue to be closed.

Around the world, countries continue to face the worst public health crisis many of them have faced since the Spanish Flu pandemic a century ago. In the UK, Prime Minister Boris Johnson, himself having been infected by the virus, announced that the UK was ‘past the peak’ in infection cases.


Thursday, January 31, 2019

Shutdown Ends, For Now


The longest federal government shutdown in history ended last Friday, with no permanent concluding agreement reached. Under the temporary agreement, funding for federal government agencies was restored until February 15, after which government funding will expire unless a new agreement occurs.

The shutdown began on December 22, after President Donald Trump and congressional Democrats, led by House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, failed to come to a agree on funding for a wall along the US-Mexican border. Trump wanted at least $5.7 billion in funding for building a barrier and increased border surveillance, while Democrats criticized such measures, with Pelosi going as far as to call a wall an “immorality.”

During the shutdown, Trump and Pelosi tussled over other areas of government, including Trump’s refusal to authorize a trip by Pelosi to the Middle East and Pelosi refusing to allow Trump to give the State of the Union speech in the House chamber.

Trump agreed to end the shutdown last week, without receiving any promise for funding, but also saying that he will attempt the same fight again next month. If Congress does not allocate funding for a border wall, Trump has threatened, he will declare a national emergency to divert funding to begin some of the construction. Trump cites the number of people crossing illegally and crime committed by those in the country illegally as justifying such a decision. Democrats have criticized Trump for this threat, as have some Republicans, saying that such as move creates a bad precedent for future administrations.


Monday, December 31, 2018

Microsoft Ends Year as Most Valuable Publicly Traded Company


Microsoft Corporation has ended the year as the most valuable publicly traded company for the first time since 2002. Its position at the top of the markets is a remarkable turnaround for the company which has spent the past years behind other major technology firms such as Apple (which it ironically helped to save in 1999 with a $150 million investment).

Microsoft’s resurgence is often attributed to the leadership of Microsoft CEO Satya Nadella, who took over from Steve Ballmer. Nadella moved the focus on Microsoft to its cloud computing offerings, which allow companies to launch software on online servers to be accessible anywhere. It was a major break from Microsoft’s previous focus on its operating system Windows. Nadella’s efforts paid off, however, as Azure, Microsoft’s main cloud computing offering, now ranks second to Amazon Web Services and continues to post strong growth numbers.

Microsoft continues to face strong competition from Apple, Amazon, and Alphabet (parent of Google), and with that the number one spot could change hands several times in the coming year.


No End in Sight for Federal Government Shutdown


The government shutdown resulting from disagreement over the funding of a border wall continues into 2019 with no end in sight.

The shutdown began on December 22 after President Trump and Democrats failed to find agreement on funding the president’s signature campaign promise, a border wall across much, if not all, the US-Mexican border. Trump had asked Senate Minority Leader Chuck Schumer (D-NY) and incoming House Speaker Nancy Pelosi (D-CA) for $5 billion in funding for such a wall, which they have refused to support. With Trump in opposition to any spending bill that funds the government without wall funding, Republicans have been unwilling to support any spending bill without it. While Republicans hold the House until January 3, 2019, Senate Democrats have blocked measures that include wall funding as such bills need 60 votes to pass. Republicans hold a 51-49 majority in the Senate. While Republicans will gain net two seats in the coming Congress in the Senate, there will be still enough Democrats to block funding. In addition, the incoming Democratic majority in the House will also not be supportive of Trump’s requested funding.

Shutdowns lead to the suspension of numerous federal government services and the furloughing of government employees. The effects of this shutdown have been mitigated by two spending bills passed right before the main government funding resolutions expired. This money is expected to run out for many agencies, such as the Smithsonian, at the beginning of 2019.

Services deemed essential, such as those related to the military, continue to be funded.


Wednesday, October 31, 2018

Plane Crash off Indonesian Coast Believed to Have Killed 189


Lion Air Flight 610, a domestic Indonesian flight, crashed off the country’s coast on Monday, with 181 passengers and 8 crew on board. Officials do not believe any people on board survived the crash.

The crash is Indonesia’s deadliest aviation in two decades, with the country having a mixed record on aviation safety in the past. The cause of the crash is under investigation, with Boeing, the maker of the 737 jet involved in the crash, also involved to investigate whether a mechanical failure was to blame.


Saturday, September 29, 2018

Elon Musk to Step Down as Chairman of Tesla After SEC Probe


Tesla founder and CEO Elon Musk will step down as chairman of the publicly traded electric car maker after the Securities and Exchange Commission (SEC) launched an investigation into Musk’s handling of the company. The SEC had alleged that Musk had misled shareholders after he had said he would take Tesla private. Musk had also claimed he had already received such funding. No concrete evidence was ever provided of this, but Musk said Saudi investors had verbally agreed to do so.

While Musk has to give up his chairman of the board position, he still remains at the helm of the company as CEO.

Musk has faced several difficulties in the past year. Tesla has been plagued by production issues this year as well as volatility in its share price. Musk also faced controversy after his appearance on The Joe Rogan Experience podcast in which he appeared to take puff a marijuana joint. The US Air Force threatened an investigation into it as government contractors (as Musk is one given his leadership of SpaceX) cannot use drugs even in states where it is legal.


Thursday, May 31, 2018

Roseanne Barr’s Tweet Causes Cancellation

The return of Roseanne to television saw big ratings, but the show could not survive the statements of its star. Barr’s tweet, which said that Valerie Jarrett, a former Obama adviser, seemed like the result of the Muslim Brotherhood and an ape mixing together, caused ABC to cancel the show. Barr has apologized for the remark, claiming the sleep drug Ambien caused her to make the statement (the maker of the drug denies such effects).

Barr, a strong supporter of President Trump, has said she may fight to keep the show on air. Trump did not defend her statement, but tweeted that ABC owes him an apology for what he views as negative coverage of his administration. Trump had earlier praised Barr for the success of her show.


Harvey Weinstein Indicted on Rape, Assault Charges


Disgraced Hollywood mogul Harvey Weinstein was indicted by a grand jury on Wednesday on sexual assault charges. He was freed after posting a $1 million bail.

Weinstein was a major figure in Hollywood when multiple women came forth to accuse the executive of sexual harassment and assault over the years. Weinstein was removed from the company he founded with his brother, Bob, and has been stripped of his membership in the Academy. These charges in New York are the first to be pressed, with other charges possible, though some may be difficult to prove given the time that has elapsed between now and when the alleged actions took place.


Wednesday, January 31, 2018

Trump’s State of the Union Lays Out New Goals for White House

President Donald Trump delivered his first State of the Union as President on Tuesday, in which he laid out various proposals going forward along with touting what he views as the successes of his Presidency so far.

In the speech, Trump laid out a number of plans for the next year, most notably plans for massive infrastructure spending and immigration reform. With respect to infrastructure spending, Trump called for a $1.5 billion package which would work to build new and repair existing roads and bridges across the United States. The bill’s high cost would be paid through a combination of federal grants, state grants, and private partnerships.

In the way of immigration reform, Trump called for an end to “chain migration,” in which immigrants can work to bring their extended families to the United States. Trump’s proposal calls for such privileges to be limited to immediate family members. In addition, Trump’s plan calls for a path for citizenship, over twelve years, for the so-called “Dreamers,” who were children when their parents brought them to the US illegally. With this, Trump made clear that border security would need to be assured, most notably through his plan for a wall, at least in part.

Trump also praised the Republican tax bill passed late last year, saying it will increase the disposable income of millions of Americans and stimulate economic growth.



Monday, July 31, 2017

GOP Health Care Effort Flounders

Republican efforts to repeal the Obama’s signature health care law, or at least make changes to it, has continued to fail to produce fruit as Democrats continue their steadfast opposition and Senate Republicans cannot reach a consensus on the path forward.

GOP moderates, especially Susan Collins (R-ME) and Lisa Murkowski (R-AL), and conservatives such as Mike Lee (R-UT) and Rand Paul (R-KY) have considered elements of the other side’s plans untenable in getting them for a final bill. Plans that would have repealed parts of the bill and replace them with GOP plans have failed, as have plans to repeal the plan without a replacement one waiting.

On early Friday morning, the Senate rejected a so-called “skinny repeal,” which would have repealed the individual mandate, the most hated part of Obamacare by many Republicans, and eliminated certain taxes. The bill was notable in that House Speaker Paul Ryan gave assurances to some senators that the House will not pass that bill, giving them clearance to vote for it without having to be held fully accountable if made law. Still, it failed, with Sen. John McCain (R-AZ) joining Collins and Murkowski in voting it down.

Friday, June 30, 2017

Trump Open to Opening More of Atlantic, Arctic to Drilling

The White House has sent signals that it could open up more of the Atlantic and Arctic Oceans to oil exploration, which would reverse prior Obama administration policy prohibiting petroleum drilling in those areas. The Interior Department is also exploring opportunities to allow more drilling off the coast of most of the US mainland.

These steps comes as Trump aims to make the US a greater player in the world oil market, though the possible expansion in supply comes at a time when oil prices are at a low point. Additional increases in supply could translate into reduced costs in the rest of the economy, but greater losses for many oil producers.