tyb
FAA expects Boeing to submit 737 MAX fix soon for approval
The Federal Aviation Administration's acting chief told lawmakers on Wednesday he expects Boeing Co to submit a software fix and training upgrade for the grounded 737 MAX, which was involved in two fatal crashes since October, for approval "in the next week or so."
WASHINGTON: Federal Aviation Administration acting chief Dan Elwell told lawmakers on Wednesday he expects Boeing Co to submit a software fix for the grounded 737 MAX involved in two fatal crashes for approval soon, and said he was concerned by the planemaker's lengthy delay in disclosing a software anomaly.
At a congressional hearing, the chairman of the U.S. House Transportation and Infrastructure Committee told the FAA it must "get it right" in deciding when to allow the Boeing 737 MAX to fly again.
"The world is watching and the FAA and Boeing must get it right," Representative Peter DeFazio said.
The Boeing 737 MAX plane was grounded worldwide in mid-March after two crashes in October and March killed 346 people.
Elwell said the agency expects to get the software upgrade and training update from Boeing in the "next week or so." He said the FAA will only allow the plane to resume flights when it is "absolutely safe to do so… It's important we get this right," Elwell said.
Elwell said Boeing should not have waited 13 months to tell the FAA that it inadvertently made an alarm alerting pilots to a mismatch of flight data optional on the 737 MAX, instead of standard as on earlier 737s. Reuters first reported the 13-month delay.
The FAA is planning a May 23 meeting in Fort Worth, Texas, with air regulators from around the world to update them on the reviews. U.S. airlines have canceled flights as a result of the 737 MAX into August.
https://www.channelnewsasia.com/news/business/faa-expects-boeing-to-submit-737-max-fix-soon-for-approval-11537024
Jon Stewart is not the progressive hero you think he is
"Stewart….sure."
For many Americans — especially those between the ages 18 and 35, an age group I neatly bisect —Jon Stewart is more than a comedian, more than a satirist, and more than a newsman. He’s a hero, the standard bearer of progressive ideology who has fought the good fight, armed only with jokes and a goofy grin, against Fox News, the Bush Administration, and every Baby Boom right-winger young people love so heartily to mock.
But I come to bury Stewart, not to praise him. Because that narrative just isn’t borne out by the facts.
For the past decade, in the midst of the worst financial crisis since the Great Depression, Stewart just hasn’t been the progressive hero that so many wanted him to be, especially on matters of finance and business.
Sure, he covered the topic, and occasionally even produced something thought-provoking. By and large, though, Stewart—inarguably the most important American social satirist of the new millennium—didn’t hold accountable those who were truly responsible for the meltdown: the bankers, CEOs, and politicians, both Republican and Democrat, whose actions aided and abetted the mess we landed in.
Stewart’s biggest “takedown” during the financial crisis, and arguably of his whole career, was against Jim Cramer, the host of CNBC’s Mad Money. Yes, Cramer was once a hedge fund manager, but by the time Stewart lit into him, he hadn’t been in that position for almost a decade, and he was best known to America as the business news world’s version of your smart but drunk uncle, ranting and raving about god-knows-what on CNBC.
In November, just a couple days after Occupy Wall Street was evicted from Zuccotti Park, “The Daily Show” aired another hit piece with correspondent Samantha Bee interviewing the most stereotypically spacey Occupiers she could find sleeping at the camp. That’s not to say there aren’t those elements within Occupy, but it was alarming to see “The Daily Show” fall into the same habits of hippie-punching seen in the establishment media.
“The Daily Show’s” message to its audience was clear: Occupy Wall Street is weird. Don’t join them.
Again, in Stewart’s defense, he is not the only writer on “The Daily Show,” and he clearly never wanted to be assigned this role of progressive leader.
He really couldn’t be more overt about it. So no one should have been surprised when Stewart, whose brother, Larry, worked as the chief operating officer of NYSE Euronext (2010–2013), the parent company of the New York Stock Exchange, didn’t really seem to get what Occupy Wall Street was pissed off about.
http://fortune.com/2015/08/06/jon-stewart-business-economics/
Lawrence Leibowitz
Lawrence Leibowitz is a financial markets professional, banker and exchange executive. He currently serves as the CEO of Incapture Technologies, financial markets focused technology firm.
Previously, he was the chief operating officer of NYSE Euronext. He was appointed to that post on March 3, 2010 and left in December of 2013 after NYSE was acquired by ICE
http://www.marketswiki.com/wiki/Lawrence_Leibowitz
it habbens in the situation we are in…. Knew it was a mistake. Done it a few time's myself so I get it.
Bought that bottle too…nice 12 year.
o7
Hershey Trust Selling moar shares-$74m filed today.
The Trust is the Milton Hershey School.
The Milton Hershey School is a private philanthropic (pre-K through 12) boarding school in Hershey, Pennsylvania. Originally named the Hershey Industrial School, the institution was founded and funded by chocolate industrialist Milton Snavely Hershey and his wife, Catherine Sweeney Hershey. The school was originally established for impoverished, healthy, male orphans, while today it serves students of various backgrounds. The Milton Hershey School Trust, which funds the school, owns controlling interest in The Hershey Company and owns the Hershey Entertainment and Resorts Company (HE&R) which oversees many of the area hotels along with a theme park called Hersheypark. With over $12 billion in assets, the Milton Hershey School is one of the wealthiest schools in the world. The school is overseen by a Board of Managers.
The organizational papers were modified in 1933, allowing the school to accept older students, and again in 1951 to change the name of the school from the “Hershey Industrial School” to the “Milton Hershey School.” In 1968, the school was racially integrated, although it wasn’t until 1970 that the organizational papers allowed that, and another modification in 1976 allowed female students, who started arriving in 1977.
In 1989, the school stopped requiring students to milk cows twice daily, reflecting a changed focus from vocational to college preparatory education, but students were still required to perform chores.
https://en.wikipedia.org/wiki/Milton_Hershey_School
http://www.hersheypa.com/about-hershey/milton-hershey-school.php
https://www.secform4.com/insider-trading/47111.htm