RCH750T USAF C-17 Globemaster on approach for MCB Quantico from Charleston Int'l depart.
Picking up some equipment for fauxtus Philly visit later
Credit Suisse flags financial hit over Greensill collapse
Credit Suisse may have to book a charge over its dealings with Greensill, it warned on Tuesday, as investor scrutiny grows over its relationship with the British supply-chain finance company that collapsed into insolvency. The Swiss bank has had to close around $10 billion of supply-chain finance funds that bought notes issued by Greensill, and which it marketed to clients. It is also trying to recoup a $140 million loan it made to the company last year.
“While these issues are still at an early stage, we would note that it is possible that Credit Suisse will incur a charge in respect of these matters,” it said. Greensill filed for insolvency last week after losing insurance coverage for its debt repackaging business.
Credit Suisse’s share price has fallen over 10% since it announced its supply-chain funds were suspended on March 1. It has paid investors about $3.1 billion in redemptions from the four funds so far, and said it would be announcing further cash distributions over coming months.
The bank also said on Tuesday that, “contrary to certain reports”, its chief risk and compliance officer, Lara Warner, was not aware until Feb. 22 that insurance related to Greensill could expire on March 1.
Greensill founder Lex Greensill said in a court filing last week that he kept senior individuals at Credit Suisse, including Warner, informed about the funds’ insurance coverage in the “weeks” leading up to its insolvency application on March 8. The collapse has put fresh pressure on Credit Suisse Chief Executive Thomas Gottstein who has been trying to move the bank on from a string of bad headlines, spanning a spy scandal that ousted predecessor Tidjane Thiam to a $450 million write-down on a hedge fund investment.
The level of oversight and risk management applied at the bank’s asset management division is under scrutiny particularly as Gottstein had ordered a review of the Greensill funds last year. Supply-chain financing, or reverse factoring, is a method by which companies can get cash from banks and funds such as Greensill to pay their suppliers without having to dip into their working capital.
Credit Suisse declined to comment beyond its statements. The bank has hired external firms to help deal with regulators and insurers amid questions over the contracts that underpinned Greensill’s security. It has also recovered some $50 million of the $140 million bridge loan, it said, leaving its outstanding collateralised loan at $90 million.
Credit Suisse said on Tuesday that its asset management division, which sold the funds to investors, was working closely with Greensill’s administrator, Grant Thornton, and with other parties to facilitate the recovery of funds.
Japanese insurer Tokio Marine, which provided $4.6 billion of coverage to Greensill credit notes through an Australian unit, is investigating the validity of those policies. A person with knowledge of the matter has said these were directly linked to the Credit Suisse funds.
https://www.reuters.com/article/britain-greensill-credit-suisse-gp/update-4-credit-suisse-flags-financial-hit-from-greensill-collapse-idUSL8N2LE0UP
wish i knew about doing that before-wasn't even a thought since you'd think they had bigger issues to deal with and never be able to get to that.
But glad they did!
Lebanon protesters back on streets as pound loses 90% of its value
Angry protesters used burning tyres to block roads in parts of Beirut on Tuesday as the Lebanese pound crashed past a new milestone in its plunge against the dollar, losing most of its value as the country’s financial meltdown worsens.The pound traded at around 15,000 to the dollar and above for the first time on Tuesday, according to market dealers, and has now lost nearly 90% of its value since the crisis started in late 2019. “We are absolutely fed up, we are hungry we are finished,” one protester yelled.
Lebanon’s economic crisis is posing the biggest threat to its stability since the 1975-1990 civil war, wiping out jobs, locking people out of their bank deposits and raising the risk of widespread hunger. Parliament convened committees to discuss an emergency loan for the country’s electricity company after the energy minister warned it would be lights out across Lebanon by the end of March if a cash injection is not made.
The committees only managed to promise $200 million out of a total requested of around $1 billion. The proposal now has to be approved by parliament. An official source told Reuters that Lebanon’s foreign reserves now stand at around $16 billion. That compares with about $19.5 billion in August and means that not much is left for a subsidy programme to fund basic goods, including wheat and fuel.
Lebanon’s problems were compounded after an explosion at the port in August devastated whole tracts of Beirut, killing 200 people and prompting the government to resign, leaving the country rudderless as it sinks deeper into financial collapse. Prime minister Hassan Diab’s cabinet has stayed on in a caretaker capacity until a new government is formed. No budget has yet been passed by parliament for 2021.
Prime minister-designate Saad al-Hariri, nominated in October, is at loggerheads with President Michel Aoun and has been unable to form a new government to carry out reforms to unlock international aid.
https://www.reuters.com/article/lebanon-crisis/lebanon-protesters-back-on-streets-as-pound-loses-90-of-its-value-idUSL1N2LE10E
Three P-8's off Space Coast
Tactical 168428 and 168434
168428 at low altitude (ascending from 2k ft-prolly dropping a buoy or two)
These are a staple off eastern FL usually one or two at a time.
noted for 3 in a pretty tight airspace
US and Japan express 'serious concerns' over China coast guard law
Japan and the U.S. on Tuesday expressed "serious concerns" over a Chinese law that allows the nation's coast guard to fire at foreign ships in waters around the Japanese-administered Senkaku Islands, which Beijing claims as the Diaoyu. The allies agreed to deepen defense cooperation and hold joint military drills in the area around the islands in the East China Sea amid an upsurge in Chinese incursions into Japanese waters near the islets.
Japanese Defense Minister Nobuo Kishi revealed the exercises were taking place after "two-plus-two" talks in Tokyo that included Japanese Foreign Minister Toshimitsu Motegi, U.S. Secretary of State Antony Blinken and U.S. Secretary of Defense Lloyd Austin.
"The government believes it is important for the [Japanese] Self-Defense Forces and the U.S. military to enhance deterrence by acquiring a high level of capability through training," Kishi told reporters in Tokyo. "Yesterday, Japan's Air Self-Defense Force and the U.S. Air Force conducted another joint drill in the East China Sea," he said. "The Self-Defense Forces and the U.S. military have conducted a number of joint drills in the southwest [marine] area, including the Senkaku Islands. I hope that we will continue to steadily carry out such joint drills and keep showing that Japan and the United States are acting together."
Official Chinese vessels entered waters surrounding the Japan-administered Senkakus on six separate days in February – the most in four and a half years. China last month upgraded its coast guard to quasi-military status, allowing it to fire at foreign ships in its waters. Amid concerns that Beijing could further step up activities near the islands, Japanese government officials have said the Japan Coast Guard may be able to directly shoot at foreign targets caught committing violent crimes on their way to landing on Japanese territory.
The United Nations Convention on the Law of the Sea permits "necessary steps" to prevent the passage of ships that threaten their peace and security. Japan believes this to include the use of weapons by its coast guard in response to an attack by foreign ships, based on its law permitting authorities to shoot in self-defense.
The ministers said in a statement": The United States and Japan remain opposed to any unilateral action that seeks to change the status quo or to undermine Japan's administration of these islands." Robert Dujarric, co-director of the Institute of Contemporary Asian Studies at Temple University Japan Campus, told Nikkei Asia that Japan has to date been "very passive" and has not resorted to force to expel the Chinese vessels.
"Tokyo thinks that risking a clash over the uninhabited islands is not logical. This is based on the assumption that Chinese actions will not escalate into more aggressive moves, such as capturing Japanese fishing vessels and landing on the islands," he said. "Washington believes that if Japan responds there's a risk it will escalate into a kinetic clash that could morph into a Sino-American war. Washington thinks it's better to have minor violations of Japanese sovereignty than an armed conflict. It has thus suggested that Tokyo does not respond.
https://asia.nikkei.com/Politics/International-relations/US-and-Japan-express-serious-concerns-over-China-coast-guard-law
BOXER81 USAF C-40C departing JBA ws with EAGLE64 USAF C-17 Globemaster on final approach at JBA from a Bragg ground stop-origin of Charleston Int'l earlier
This may come out as RCHTXXX later
Myanmar plants run by Japan's Fast Retailing partner set ablaze
Two factories in the Myanmar city of Yangon run by Fast Retailing Co.'s local partner were set ablaze on the weekend, the operator of the fast-fashion Uniqlo and GU brands said Tuesday.
The extent of the damage caused at the plants Sunday amid protests against a Feb. 1 military coup remains unknown, the company said, adding it is confirming the situation in regard the fires. On Sunday, Chinese-linked factories in Yangon were attacked, leaving many people injured, according to the Chinese Embassy in Myanmar. The Yangon factories of Fast Retailing's partner are located in townships where martial law has been declared, the company said, adding no injuries related to the fires have been reported as the plants were closed on Sunday.
There were five clothes production plants operated by Fast Retailing's partner company in Yangon and one in Bago, northeast of Yangon, as of March last year, according to the company. Many apparel companies and related corporations from Japan operate in the townships in Yangon currently under a declaration of martial law, according to sources familiar with the businesses. Japanese engineers employed by apparel companies from China and South Korea are also working in the townships.
Martial law was declared in Hlaingthaya and the neighboring township of Shwepyithar on Sunday, the first such declarations in Yangon since the Feb. 1 military coup, followed by orders in four more townships in the city on Monday. The declaration gives the military administrative and judicial authority in the areas.
On Sunday, at least 38 people were killed by security forces during protests, a Southeast Asia-based human rights organization said.
The Assistance Association for Political Prisoners said the death toll equaled the number killed on March 3, the bloodiest day since the Feb. 1 military coup.
https://mainichi.jp/english/articles/20210316/p2g/00m/0bu/070000c
chek't
SAM015 USAF G5 departed JBA west
This AC had a r/t to Miami Int'l and back that began on 0314 for an overnight and return yesterday to JBA
Heading to Peterson AFB most likely
Kamel Toe with an AC change from yesterdays arrival from Las Vegas
Heading to Denver
AF2 USAF G5 departing Los Angeles Int'l Airport after an overnight
Kamel Toe arrived in a 757 yesterday Tail 99-0003-cap #2
they must be going back to LA after todays event as the spouse goes to New Mexico tomorrow alone
BOXER81 USAF C-40C on final approach for Atlanta Int'l from JBA depart
RCH748T USF C-17 Globemaster departed MCB Quantico sw
Greensill Capital Sued in U.S. as Miner Claims Finance Fraud
Greensill Capital was sued by a company that mines coal in West Virginia, in what may be the first U.S. lawsuit since the firm was forced into insolvency.
Greensill’s collapse presents “a clear and present threat” to the business of Bluestone Resources Inc., the mining company said in a complaint filed Monday night in Manhattan federal court. Bluestone claims it was defrauded by Greensill in an $850 million financing deal.
London-based Greensill was left fighting for survival this month as investors cut ties over worries about the creditworthiness of its borrowers, and Credit Suisse Group AG moved to wind down a $10 billion group of supply chain finance funds linked to financier Lex Greensill over valuation concerns. Bluestone said it entered into a long-term financing agreement in which Greensill advanced $850 million. About $108 million of that was paid back in fees, according to Bluestone. Greensill also received warrants entitling it to at least $100 million.
Bluestone claims it was lulled by Greensill into increasing its dependency on the firm while Greensill remained silent about its fraudulent activities elsewhere. Greensill’s insolvency threatens Bluestone’s ability to do business, it said. The company is seeking unspecified damages.
“Greensill Capital’s sudden and unjustified abandonment of Bluestone, together with all of the press surrounding Greensill Capital’s fall, now present a clear and present threat to Bluestone’s business,” according to the lawsuit. “Defendants are responsible for all damages to plaintiffs caused as a result of their egregious actions.”
https://www.bnnbloomberg.ca/greensill-capital-sued-in-u-s-as-miner-claims-finance-fraud-1.1577815
you know it's gettin' close when they start eating themselves….
Did they decide to not go to Denver?
looks like it
AF2 USAF G5 with a direction change to sw over Utah-likely heading to New Mexico nao
RCH9062 USAF C-17 Globemaster departed LAX with RCH742T Globey on at the west end of the runway and switched on
SIKE95 US Navy E-6B Mercury nw from Tinker AFB
RCH748T USAF C-17 Globemaster on final approach for Dobbins ARB, GA
RCH750T USAF C-17 Globemaster began descent for same
Both departed MCB Quantico
Joe will be going to GA on Thursday is muh guess
AF2 USAF G5 with some big indecisons over the four corner area
Like they are not sure where they want to go…
Looks like Denver it is however wtf was that all about?
it wasn't weather related either
there is some weather there but imo not enough to deviate like that
AF2 USAF G5 on ground at Denver Int'l from LAX depart
Still not AF1
82-8000 USAF 747 departed JBA to Philadelphia Int'l Airport
COBRA42 USAF Open Skies 135W inbound to JBA from Lincoln Muni. Airport (ops running from here while Offutt runway being overhauled) on a holding pattern prior to arrival
N22PP Dept of Interior Nat Park Police Bell 412 in it's usual spot from the Eagle's nest
Not AF1 82-8000 USAF 747 on final approach at Philadelphia Int'l Airport from JBA
4 BUFFS from Minot AFB, ND and a Mercury out in the Gulf 'o Mexico
FEAR23 26 FR22 00000000 USAF B-52 Stratofortress(s) plus SHADO16 US Navy Mercury
SAM963 USAF C-32A departing Los Angeles Int'l ne
This arrived as AF2 yesterday at about 4pm local
>>70415 pb
Done with LA for now
RCH742T C-17 Globemaster departed earlier ne with a load of equipment
just west of the Airport
San Berdoo PD and some TV helos
Looks like ops are normal at Ontario Int'l
looks like the boy in the car did not make it.
hate seeing that.
3 dead, 1 hurt in small plane crash in Florida neighborhood
A 4-year-old boy who was riding in an SUV with his mother died after a small plane struggling to return to a South Florida airport crashed into them on a residential street, officials said.
The boy, Taylor Bishop, and two people on the plane died in the Monday afternoon crash, which was recorded by a neighbor's security camera, fire officials said. The boy's mother, Megan Bishop, was also injured, but was released from the hospital later Monday, Pembroke Pines Fire Chief Marcel Rodriguez told news outlets. Two people on the plane also died, Rodriguez said. The Beechcraft Bonanza plane had just taken off from North Perry Airport in Pembroke Pines and was returning just before 3 p.m., the fire chief said. He said it may have experienced mechanical issues after taking off. "The car literally looks like it's just in half," neighbor Salah Elshaer, who called 911, told WSVN.
"We heard like a bomb, like a tremendous noise, and we went outside, and everything was on fire," another neighbor, Annabel Fernandez, told the television station. Megan Bishop was able to get out of the vehicle and was trying to free Taylor, officials said. Firefighters eventually freed the trapped child, and they were taken to the hospital, where the boy died.
https://www.startribune.com/3-dead-1-hurt-in-small-plane-crash-in-florida-neighborhood/600034882/
So Joe bailed early out of Philly-the schedule has been updated to reflect an almost 2 hour earlier departure.
This is based on seeing the tanker already and the schedule "update" from a normally pretty accurate source
Original is 5:45pm est depart for Wilmington, DL
Update says it habbened at 3:55pm est
https://factba.se/biden/calendar
BANKR11 USAF DC-10 Extender came out of McGuire AFB (which is wut alerted me to check and see if any changes made) and already setting up as the mobile filling station.
Article says he returns to WH tomorrow
Wut a hard day of werk for poor old Joe.
He took Marine One on Sunday-which is why nothing was seen.
Biden takes Marine One home to Wilmington after press criticized Air Force One trips saying they set a bad example during the pandemic
https://www.dailymail.co.uk/news/article-9359541/Biden-takes-Marine-One-Wilmington-press-said-Air-Force-One-trips-set-bad-pandemic-example.html
SAM925 USAF G5 KAF AC of interdast departed JBA ne
BANKR11 USAF DC-10 extender over NJ/DL
MULEY91 US Navy E-6B off shore from Pax River depart and heading back
BUFF's heading back to Minot AFB from Gulf 'o Mex werk
FEAR23 26 FR22 00000000 B-52 Stratofortress(s)
SAM963 USAF C-32A continues en from Los Angeles Int'l depart and joined by RCH740T USAF C-17 Globemaster that left Travis AFB about the same time
Ahead is RCH742T Globey that left LAX after AF2 departed for Denver and began it's descent
82-8000 USAF 747 departed Philadelphia Int'l Airport
So let's see where this goes.
If it goes to JBA I wuz right
Goes to Delaware I go to the box
So the reason for an AC change for Kamel Toe was an issue with the C-32A this morning which is now on final approach at DIA
SAM963
The second day of the vice president’s tour to publicize the virus relief was disrupted because of a mechanical issue with the government plane that flew the vice president to Las Vegas and Los Angeles on Monday. A smaller backup plane was sent to fly her to Denver, relegating most of her staff, Secret Service and a small group of reporters to fly on a cavernous cargo plane.
https://apnews.com/article/joe-biden-politics-business-philadelphia-jill-biden-0f50d3a8e6d2352764b0a3211db1934c
SAM925 USAF G5 KAF AC of interdast on ground at Bedford, MASS
AF2 USAF G5 departed Denver Int'l east
totally satisfying!!