Amazon . com chose 20 metropolitan areas just as one site because of its second headquarters. Watch these application videos to determine how hungry locales were for that place. (Amazon . com leader Jeffrey P. Bezos owns The Washington Publish.) (Monica Akhtar/The Washington Publish)
Amazon’s look for a second headquarters is sort of a reality show, best way geekier with way greater stakes. And in keeping with that format, dreams happen to be getting crushed. We’re feeling for you personally Minneapolis.
The internet store was quite obvious if this solicited proposals, lounging out criteria that applied for the most part to around 24 American urban centers. Nevertheless, more than 200 positive localities applied. Thursday, Amazon . com selected 20.
The picks stuck so carefully for their criteria an formula might have done a good job during the fall and saved countless towns, counties and metros a lot of work. But there have been a couple of glaring omissions.
To get rid of the winners and also the losers,let’s perform a quick experiment: Consider Amazon’s criteria, think about the actual features of the metropolitan areas which were selected, and appearance off in which the two intersect. It’s classic retrofitting, however we have the advantage of hindsight, why don’t you take full advantage of it?
Amazon . com chose 20 metropolitan areas just as one site because of its second headquarters. Watch these application videos to determine how hungry locales were for that place. (Amazon . com leader Jeffrey P. Bezos owns The Washington Publish.) (Monica Akhtar/The Washington Publish)
We’re using data in the Census Bureau’s 2012-2016 American Community Survey, because Amazon’s proposal causes it to be obvious it’s thinking in decades, and thus we’re searching for that longest-term, best data around.
Regrettably, additionally, it means we must omit Canada. Our 20 finalists will here be just 19. Sorry, Toronto!
For consistency and comparability, we based all measurements on Metropolitan Record Areas, even if bids originated from smaller sized jurisdictions within them. We’d to separate the 2 metros which are the place to find multiple finalists. Greater New You are able to is split up between New You are able to and Newark, as the D.C. metro’s metropolitan areas and counties are split between Montgomery County, Md., the District itself, and Northern Virginia. Begin to see the graphic for detailed information which county wound up where.
Before we attempt our listing, we are able to eliminate any metro area with less than 1 million people, in addition to San antonio, where Amazon . com already has a headquarters. (Amazon’s founder and leader, Jeffrey P. Bezos, may be the owner of The Washington Publish).
After we read past all of the shows the type of corporate perks Amazon . com might welcome from the new host city, among the clearest criteria within the document is perfect for “locations using the possibility to attract and retain strong technical talent.”
It’s very easy to determine that potential. Consider the metropolitan areas that have already pulled that task out, and do a comparison to the peak 19 within the category. Nearly all Amazon’s 19 finalists will also be within the top 19 metropolitan areas using the largest population of youthful people (ages 25-39) who’ve engineering or science levels.
However that leaves nine Amazon . com finalists that do not have that specific talent pool. Why were they still attractive to the internet store?
For your, we glance to a different Amazon . com requirement: riding on the bus. Four from the metropolitan areas that weren’t packed with technical talent have been in the very best 19 for that greatest utilization of riding on the bus for commuting to operate. Including Pittsburgh, in addition to three areas within commuting distance of a few of the greatest American metropolitan areas: Newark and also the D.C. suburbs in Maryland and Virginia.
But to describe the inclusion of Austin Columbus, Ohio Nashville Indiana and Raleigh, N.C., on Amazon’s shortlist, we must take a look at another big item around the company’s wish list: the company atmosphere.
That’s just a little harder to evaluate, but apparently , an energetic (and most likely more youthful) labor pressure is a superb indicator. All of the remaining metropolitan areas are presents itself their email list with regards to labor-pressure participation, or even the number of the adult population that’s either working or searching for work.
Equipped with fast and dirty gauge of the items Amazon . com was searching for, we are able to now puzzle out which metropolitan areas got hosed. The other metro areas fit the models, either of the well-educated metropolis with relatively strong transit infrastructure (Boston, Atlanta, and lots of some of the best metropolitan areas out there), or perhaps a rust-belt city having a strong labor market (Columbus, Indiana)?
The obvious loser is Minneapolis. The Minneapolis-St. Paul metro area performed well in each and every measure and, based on the Star Tribune, offered incentives which is between $3 million to $5 million, yet lost out even though many others with less strong resumes managed to move on.
Houston missed its bid to produce an “Innovation Corridor” moored by Amazon . com, even while two other Texas metropolitan areas managed to get in. Houston rated well in education and transit, and it missed the very best-ranking trifecta just by one place on labor-pressure participation.
Baltimore also were built with a rough go. It met two criteria (and it was top half within the other, labor-pressure participation) and posted an offer based on an agenda to redevelop South Baltimore’s Port Covingtonarea, but lost to no under four of their neighbors — Washington, Northern Virginia and Montgomery County, Md., in addition to Philadelphia
Another metropolitan areas that met two criteria yet didn’t advance are possibly simpler to describe. All three — Portland, Bay Area and San Jose — take presctiption free airline Coast which most likely isn’t appealing to a San antonio store searching to grow its American footprint.
Bay Area and San Jose happen to be the place to find probably the most intense industry for tech talent in the united states and might not have the area or stomach for the type of growth Amazon . com will need.
with a brand new application known as Thrive. Its goal is to really make it awesome for any generation totally hooked on smartphones to from time to time detox.
Among Thrive’s abilities: assisting you humblebrag you cannot be arrived at by delivering text responses in your account. As with, “Try me later, I’m busy Thriving.” (I really hope my boss doesn’t mind.)
If smartphones would be the new cigarettes, Thrive is really a new type of nicotine patch. The application won’t cure everything that’s messed up about our relationship with phones — Thrive is definitely an add-to the software that runs the telephone, also it only starts to address the social illness that compels us to become always connected. But it’s something can really do in order to break the spell of those glowing rectangles.
[10 ways tech will shape your existence in 2018, for much better and worse]
There is a paradox to presenting technology to wean us from technology, but Huffington comes with an explanation. “Going to rest using the lights off doesn’t make us anti-electricity,” she explained. “In exactly the same way, switching off our phones so that you can reconnect using the things and people we most value doesn’t make us anti-technology.”
What’s surprising is the fact that Thrive is really a partnership with Samsung, which made the free application available now for proprietors of their Note 8 phone. The world’s largest maker of smartphones is acknowledging that it is products could be unhealthy. “Helping people determine how and when to disconnect from technology every so often is 100 % core to the mission of making technology that puts people in the center,” Samsung’s chief marketing officer, Marc Mathieu, explained. (Thrive can be obtained only from Samsung, but see below for suggestions on making an Iphone less addictive, too.)
sometimes known as the “attention economy,” the apps which have renedered gazillions by hijacking our minds with likes, alerts along with other irresistible distractions. Jesse Trump tweets are its crack cocaine.
Researchers and psychiatrists haven’t arrived at a consensus on whether phones are coming up with wide-scale “addictions,” like gambling or drugs. But there’s lots of evidence that children and adults alike are getting problems: The appearance of smartphones corresponded having a 60 % increase in the amount of children who experienced a minumum of one episode of depression. When’s the final time your loved ones were built with a meal without phones present? And just how frequently are you “vortexing”: obtaining your phone to complete one factor and ending up, an hour or so later, still onto it doing another thing?
I’ve attempted many different ways to regain attention and time from my phone: Banning it in the bed room, switching off application notifications and switching its color screen to some less-appealing grayscale. But making phones less helpful isn’t the answer. We want phones made to allow us to be much better humans — and, for now at least, humans still need sleep and relax and stare the window once in a while. From time to time, we have to be bored.
“The idea is, how can we keep your best reasons for our phones while allowing for us to disconnect, recharge, do deep work, come with an undistracted meal having a friend and sleep without getting the telephone buzzing nearby?” Huffington stated. Working out balance is essential to the way forward for the smartphone.
Huffington left her job as editor from the Huffington Publish in 2016 to devote her time for you to projects together with a start-up known as Thrive Global, centered on helping people fight burnout and exhaustion. Thrive isn’t just an application, it’s a life-style brand, having a book, a podcast as well as a web-based course.
don’t disturb and driving modes can block calls and messages, and also the battery information page can provide you with a tough sense which apps you utilize most. An application known as Moment can track the length of time spent in your phone, and Freedom can block use of certain apps and websites.
Underneath the gun from investors and customers for that iPhone’s potentially addictive affect on children, Apple a week ago stated inside a statement, “We think deeply about how exactly our goods are used and also the impact they’ve on users and also the people around them.”
her celebrity buddies, or perhaps a company using the marketing heft of Samsung allow it to be socially acceptable to disconnect? “We need to make it a standing symbol,” Huffington stated.
My buddies were amused once they experienced my Thrive do-not-disturb messages. I requested Huffington how she’d experience obtaining a Thrive notice from your worker. “I will give that individual a campaign,” she stated. “I believe those who do this would be the people you can rely on to consider proper care of themselves and never burn up.”
Okay, we can’t all work with Arianna Huffington. But I’m hopeful Thrive will a minimum of inspire competition between Apple, Google and Samsung to create less-addictive phones. They might use artificial intelligence and also the data they previously collect to understand notifications are really urgent, to recognize unhealthy trends and (within the extreme) suggest causes of help. Teaching a telephone who your VIPs are and just what time you need to reach bed could end up part of setup.
I’d love a telephone that forestalls news alerts along with other non-urgent notifications each morning, so I am not enticed to check on my phone before I answer nature’s call. Refer to it as “Big Mother” tech: Sure it really wants to control you, but ultimately it’s your own interest in mind.
Find out more from Geoffrey A. Fowler
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Run, don’t walk, to exchange your iPhone battery for $29
Amazon . com chose 20 metropolitan areas just as one site because of its second headquarters. Watch these application videos to determine how hungry locales were for that place. (Amazon . com leader Jeffrey P. Bezos owns The Washington Publish.) (Monica Akhtar/The Washington Publish)
Amazon . com.com has released a summary of 20 regions within the U . s . States and Canada the online retail giant is thinking about as you possibly can sites because of its second headquarters.
The list, released Thursday, includes major urban centers for example La, Dallas and Atlanta, in addition to smaller sized communities including Pittsburgh, Raleigh and Nashville.
The country’s capital is heavily symbolized, with D.C., Northern Virginia and also the Maryland suburb of Montgomery County also making the cut.
Amazon . com has stated it is seeking an worldwide hub with strong educational facilities and quality of existence that may support as much as 50,000 future employees. To staff the headquarters, Amazon . com has stated it expects to employ thousands of managers, software engineers, accountants, and legal and administrative workers. The company projects that it could need as many as 8 million square ft of space to accommodate its new offices. (Amazon’s leader, Jeffrey P. Bezos, owns The Washington Publish.)
“A lot of Amazon’s candidates fit the type of metropolitan areas which are growing through millennial migration,” stated Helen Thompson, an improvement expert in the mapping company Esri. “Metropolitan areas that may support lengthy term existence goals, whether it is school quality or vibrant and emerging downtown living, working and play.”
Amazon’s announcement in September it had become seeking an area for a second headquarters trigger a flurry of activity among metropolitan areas and communities nationwide.
Driven by Amazon’s commitment of economic growth, local leaders vied for hosting the organization, that is located in San antonio. In the detailed request proposals, Amazon . com stated that it is presence in San antonio had contributed roughly $38 billion towards the city’s economy over six years.
However the announcement also elevated harder questions regarding the influence of huge tech giants on metropolitan areas and also the possible unintended effects of giving regulations and tax breaks along with other advantages to a previously effective corporate titan. Some San antonio residents have stated Amazon’s growth put stress on the city’s transportation infrastructure and it has led to an impressive spike in housing costs — affecting low-earnings residents and favoring the tech elite.
“I believe Amazon . com could be smart entering a nearby economy and putting away a financial budget to support … the folks they could be hurting with time by relocating,” stated Shaun Holzmann, md at Iintoo, a real estate investment firm.
Mayors and local governments searched for to one-up each other by dangling lavish incentives before Amazon . com on and on to great lengths to understand its needs. Boston, for instance, offered up a 161-acre site for development which was when a horse-racing facility, along with the prospect of reduced property taxes for approximately twenty years. Toronto stated it might set up a dedicated help-desk for Amazon . com that will handle its demands for from worker training subsidies — worth as much as $8,130 per worker — to tax credits for hiring students from Ontario-based universites and colleges.
Putting in a bid documents acquired by public radio station WAMU in Washington, D.C., demonstrated the District attempted to lure Amazon . com having a five-year, zero-percent corporate tax rate as well as an exemption from condition sales taxes on software and hardware. In Maryland, Montgomery County officials suggested building the Amazon . com headquarters on the website from the former White-colored Flint mall in North Bethesda, based on Bethesda Magazine.
But because the shortlist shows, not every individuals efforts panned out, stated Michael Parrish DuDell, the writer of “Shark Tank: Quick Start Your Company.Inches
“This is a big blow for Detroit and Quicken Loans founder Dan Gilbert, who built an Amazon . com war room where greater than 40 people labored night and day to evaluate exactly what the online store likes and does not like,” said DuDell.
It’s also entirely possible that certain names out there were incorporated in an effort to pressure neighboring regions into sweetening their offer, stated Holzmann.
The discharge from the list motivated celebrations from some local politicians.
“Thx to any or all who place in effort to obtain us here. Let us close the offer and produce it home!” tweeted former Virginia governor Terry McAuliffe.
“Honored and excited to become incorporated on @amazon’s listing of finalists for #AmazonHQ2,” tweeted the town of Raleigh. “Proof that you don’t have to live here to understand this is an amazing place to reside in.Inches
Inside a statement, D.C. Mayor Muriel E. Bowser stated their email list demonstrated Washington “is no more a 1-company government town” however a “leader in innovation and tech.”
Should Amazon . com select from the 3 D.C.-area contenders, the whole region often see a lift, based on urban planning experts. The economic relationships among Northern Virginia, Maryland and also the District could prompt Amazon employees to stay in Washington, for instance, even when their commutes bring them towards the immediate suburbs.
“D.C. might stand to become a big beneficiary, even when Arlington will get the best nod,” stated Harriet Tregoning, an old planning and development official in the U.S. Department of Housing and concrete Development.
Amazon . com stated it now expects to carry discussions using the remaining metro areas to “keep exploring possibilities.” It declined to state when the organization could make your final decision.
This is a complete listing of areas Amazon . com is thinking about:
Apple, which pledged to provide $2,500 restricted stock awards for many of their employees, additionally to investing $350 billion within the U.S. economy — became a member of the ranks of employers offering bonuses in the wake from the new U.S. tax law. Companies such as American Airlines,Bank of America andAT&T also have made one-time payouts, each offering $1,000 cash bonuses for a lot of employees as a means of discussing their savings haul in the new goverment tax bill.
Yet the amount of employers offering such bonuses seems to become greater in number than individuals putting their savings toward a boost in base pay. A quantity of companies, including Walmart and many banks, have announced increases for their minimum wage or any other alterations in salaries. But the amount of companies offering bonuses — or who say they may achieve this — are thus far greater.
A persons sources talking to firm Willis Towers Watson, within an analysis of public bulletins produced by employers, found 88 companies by Jan. 12 which have dedicated to making one-time bonuses varying from $150 to $3000, in contrast to 35 which have renedered alterations in their minimum wage and 10 approximately others which have announced another type of compensation or salary change.
[Firms that tie bulletins to goverment tax bill earn goodwill with Trump]
A listing published by the conservative group Americans for Tax Reform promotes much more firms that have announced financial adjustments for workers, with roughly three occasions as numerous citing bonuses as wage increases. Along with a survey from December by Aon discovered that 17 % of employers stated they’d offer workers an added bonus because of the tax cut, in contrast to 11 percent who stated they likely to increase salaries.
Human sources experts and economists appear at first sight not surprised one-time bonuses are becoming more play as a result of the tax cut for many reasons. For one, bonuses are simpler for employers to hands out than bumps in base pay because they do not increase a company’s fixed costs.
“The main one-time bonus is a straightforward factor to complete: It produces good will, puts money into employees’ pockets, and you are not committed lengthy-term to anything,” stated Gregg Levinson, a senior retirement consultant at Willis Towers Watson.
“Salaries represent the only largest number of direct labor costs” for employers, stated Ken Abosch, its northern border American compensation practice leader for Aon. “When you give someone a rise in their salary, it’s an award. It isn’t a 1-time event just like a bonus. It’s additive also it compounds.”
Additionally, it reflects a lengthy-term trend in how compensation for rank-and-file employees continues to be compensated: For greater than 2 decades, employers have increasingly allocated much more of their payroll budgets to discretionary bonuses and less and fewer to having to pay increases in salaries. In 1992, stated Abosch, spending on “variable pay” only agreed to be 5.7 % of employers’ payroll budgets, and salary increases were 4.6 %. Today, individuals figures are 12.7 % and merely 2.9 %, correspondingly.
[Walmart stated it’s giving its employees an increase. After which it closed 63 stores.]
Meanwhile, the fast bulletins about one-time bonuses which have emerge in recent days give companies a chance to get good P.R. and promote worker goodwill even while many tend to be more careful about base pay increases, said Andrew Chamberlain, the chief economist in the careers site Glassdoor.
“The way in which it’s designed to jobs are that companies obtain a tax cut, they invest more, they expand their operations, which investment makes workers more lucrative each hour. That raises wages,” he stated. “The proven fact that these bonuses are being released surely has mixed motives — it’s partially the P.R. benefit, partially looking to get around the bandwagon because the tax bill has been in news reports, and partially playing stick to the leader” along with other companies within their industries.
Indeed, most of the firms that have announced bonuses or base pay increases fall under similar industries, for example airlines and banks, which compete for workers. Chamberlain stated more base salary bumps could stop by time, but “it is not going to take place overnight.”
Even if employers make investments that cause pay raises — instead of just coming back the cash to shareholders in the type of dividends or buybacks, as some CEOs have stated they’ll do — employers can always be careful. “We may visit a contraction throughout the economy, we may see another political atmosphere that wipes this out,” Levinson stated. “A 1-time bonus which hits the books now along with a more careful approach moving forward is exactly what most companies will do, I believe.”
Your odds of obtaining a bigger raise or bonus in 2018 just went lower
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ABC News that an approaching form of Apple’s mobile iOS operating-system allows iPhone proprietors to show off negligence your iPhone’s software that slows it lower to preserve its battery existence. But he stated he wouldn’t recommend turning them back because the organization slowed the phones to avoid other issues. Apple has formerly stated that turning from the performance throttling could tax your battery making your phone shut lower suddenly.
The update is anticipated within the coming months and will unveil first to developers.
Apple looks after a famously tight grip over its software but was made to become more transparent than usual after a little iPhone proprietors observed late this past year their phones grew to become considerably faster with a brand new battery. The organization faced customer outcry after after that it confirmed that it is software limits the speed of some iPhones with older batteries — to preserve battery existence. The fallout from that thought eventually motivated an uncommon apology from Apple. The organization also offered a reduced $29 battery substitute to individuals with phones impacted by the program — the iPhone 6, iPhone 6s, iPhone SE and iPhone 7.
[Run, don’t walk, to exchange your iPhone battery for $29]
Even though many iPhone proprietors were upset concerning the performance drop, many were also outraged that Apple did not give customers an option and it was not upfront by what it had been doing — sparking a slew of lawsuits all over the world.
Prepare stated Apple might have handled the problem better, and that he attempted to offer rest accusations that Apple was slowing older iPhone models to market brand new ones.
“Maybe we weren’t obvious,” he stated. “We deeply apologize for anybody who thinks we’ve got some other type of motivation.”
Task Pressure on Fiscal Insurance policy for Health. We’re getting together fiscal-policy, development and health leaders from around the world, including ministers of finance, to deal with the large and growing health insurance and economic burden of noncommunicable illnesses (NCDs) in lower- and middle-earnings countries (LMICs). Anticipation would be to identify underused fiscal-policy tools to lighten that burden.
Because of the human and economic toll, the prevention of NCDs — cancer, coronary disease, chronic lung disease and diabetes — ought to be of curiosity to all of us all. The data around the big three are staggering:
Tobacco use plays a role in seven million deaths yearly.
Weight problems plays a role in 4 million deaths yearly.
Alcohol consumption plays a role in 3.3 million deaths yearly.
Fiscal measures, by means of taxes, are underused, yet we all know they work with two important reasons. First, prices on goods matter, especially towards the more youthful and poorer populations. People, specially the poor, tends to buy less if it is more costly. Second, taxes on certain goods could be educative and signal disapproval. Nothing illustrates this greater than gains we view from taxing tobacco in the last half a century within our country yet others. In South america, when tobacco taxes elevated 116 percent (in tangible terms, i.e. adjusted for inflation) between 2006 and 2013, sales decreased by 32 percent, and tax revenue elevated 48 percent. Countries like Mexico have experienced positive results with fiscal tools and sugar. Single-peso-per-liter tax on sugary beverages led to a virtually 10 % decrease in consumption after 2 yrs.
I’d venture to state that sugar is how tobacco is at 1972: The dangers happen to be recognized and pointed up, although not expensive is happening YET to lessen the demand.
Behavior economic factors have established that taxes tend to be more potent than we otherwise might have supposed. Past the direct results of greater prices in discouraging consumption, taxes send an indication of social disapproval. Nobody wants is the just one eating dessert following a group restaurant meal. So through social multipliers, greater taxes discourage emulation of dangerous behaviors.
The job pressure will check out the development of NCDs in LMICs and evidence to aid excise-tax policies and develop tips about fiscal policies for health. While NCDs would be the leading reason for dying worldwide along with a barrier to development, no more than 1 % of worldwide health funding targets stopping them. The Planet Health Organization predicts major economic losses, $500 billion annually and growing, for LMICs if NCDs aren’t addressed. Ministers of finance shape tax policy — a effective tool to lessen the dangerous utilization of these items. But we realize that these ministers have numerous competing priorities. Viewed via a public health lens, tackling NCDs may be easily viewed as another person’s issue. Our task pressure aims to assist ministers of finance around the world understand the significance of their role in setting effective tax policies in order to save resides in their countries.
Taxes are why is a government function. Taxing “bads” like tobacco and sugar over “goods” like savings and earnings is really as near to a totally free lunch as possible in financial aspects. This really is low-hanging fruit which makes people’s lives better and helps make the world a much better place.
Lawrence Summers is really a professor at and past president of Harvard College. He was treasury secretary from 1999 to 2001 as well as an economic advisor to The President from 2009 through 2010.
President Trump took a bold announcement by Apple on Wednesday and made an even bolder claim about it.
The electronics giant touted a massive new investment in the U.S. economy, pledging to contribute $350 billion to it over the next five years, with $30 billion of that sum coming in the form of capital spending, including for a new campus. And the tech company said it will create 20,000 new jobs in the United States. The president seized on the news as validation of the Republican tax package:
I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA! https://t.co/OwXVUyLOb1
— Donald J. Trump (@realDonaldTrump) January 17, 2018
The issue: It’s not clear how much the new tax regime contributed to Apple’s decision, if at all.
In a 1,093-word statement detailing the move, the company noted it is handing the Treasury a $38 billion one-time payment. That meets a requirement under the new law that corporations pay previously deferred taxes on their foreign profits. The law set up that provision as a sort of compromise: Companies are being forced to fork over a portion of those overseas stashes to Uncle Sam, but they are being charged a deeply discounted rate (15.5 percent for cash and 8 percent for less liquid assets.) Apple says it is counting the $38 billion it’s paying toward the $350 billion total it advertised Wednesday.
The law gives companies the flexibility to spread what they owe under the levy over five years. But the payment is mandatory — and not, as Trump suggested in his tweet, itself a vote of confidence in the brightening business climate at home.
Beyond that, the company doesn’t chalk up anything else in its announcement to the tax law. The Wall Street Journal’s Tripp Mickle does a careful job parsing the company’s statement:
The company previously said it planned $16 billion in capital expenditures world-wide in the fiscal year that ends this September, up from $14.9 billion the previous year. However, Apple doesn’t break out its spending in the U.S., making it difficult to gauge how much of the $30 billion over five years it announced Wednesday is new.
Toni Sacconaghi, an analyst with Sanford C. Bernstein & Co., said Apple’s plans are in line with Trump administration goals, but that it isn’t clear how much of the commitments are new. And he said the company could deliver on those commitments with existing cash flow — without needing to tap cash holdings.
“It’s a nice number and puts a foot forward in line with where the administration wants to go with adding jobs and building in the U.S.,” he said. But he added, “It’s not clear these investments were impacted in any way by tax reform.”
President Trump, flanked by Vice President Mike Pence and Bob Dole, former Senate Majority Leader during a ceremony where Dole was presented the Congressional Gold Medal in the Capitol on Wednesday. (Matt McClain/The Washington Post)
Separately, Bloomberg News’s Mark Gurman reported Wednesday, the company is awarding most of its employees worldwide a $2,500 bonus in stock grants in the months ahead. For that, beneficiaries can thank the tax cuts.
But the announcement of Apple’s multibillion-dollar investments carried significantly more weight for Trump and other Republicans eager to find signs the tax package is supplying a big boost of momentum to broader economic growth. Another entrant in the parade of companies handing out bonuses may be nice. What the GOP would prefer, however, is evidence that corporate giants are plowing their windfalls into the kind of spending that will trickle down to workers.
“Certainly higher wages and bonuses are good news,” Tax Foundation senior analyst Scott Greenberg says. “But if the tax bill is going to have a large economic effect, it’s likely going to take some time to show up, because will take some time for companies to respond to the incentives offered by the new tax provisions.” And, he cautioned, “it’s difficult to separate causality from companies looking for gestures of public goodwill.”
Apple isn’t likely to fact-check Trump’s claims.
The announcement appeared designed to win the company some good-citizen points, with Apple CEO Tim Cook declaring in a statement that his company “could only have happened in America, and we are proud to build on our long history of support for the US economy.”
Recall that the tech titan came in for special abuse from Trump during the 2016 campaign. The candidate promised to make Apple “start building their damn computers and things in this country instead of in other countries,” at one point urged a boycott of Apple products, and said he would “come down so hard” on Cook that “his head would be spinning all of the way back to Silicon Valley.”
Breaking ground in Reno today with @GovSandoval & @MayorSchieve as part of our data center expansion plan, one of many Apple initiatives which will contribute $350 billion to the U.S. economy and create 20,000 new jobs over the next 5 years. pic.twitter.com/g40dlHsxuC
— Tim Cook (@tim_cook) January 17, 2018
But Apple isn’t the only corporate giant that has been coy about pledging to use its tax gains for investments and wage hikes rather than, say, stock buybacks and dividend payments.
A CNBC survey of the 100 biggest companies by market cap found only nine with “specific plans to use some of the money saved from the corporate tax cuts to boost worker pay or invest in facilities or charitable causes.”
In other news, the sun rose today. Can we say for sure it would have but for the corporate tax cut?
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Traders work on the floor of the New York Stock Exchange on Wednesday. (AP Photo/Richard Drew)
— DOW 26,000. CNBC’s Fred Imbert: “Stocks traded higher on Wednesday following the release of stronger-than-expected quarterly results from some of the biggest U.S. companies. The Dow Jones industrial average rose 322.79 points, closing above 26,000 for the first time. The index first broke above the milestone mark on Tuesday. The S&P 500 gained 0.9 percent to finish at 2,802.56, with staples and tech rising more than 1 percent. The index also posted a record close.Tech stocks got a boost from Apple, which erased losses after announcing plans to repatriate billions in overseas cash. The stock closed 1.7 percent higher. The Nasdaq composite rose 1 percent to finish at 7,298.28, a record.”
It broke the record in record time. CNN Money’s Matt Egan: “The latest rush to buy stocks left the average up almost 8,000 points since… Trump’s 2016 election.The rally on Wednesday gave the Dow its best percentage gain since November. And it showed that the upward trend remains intact despite a big reversal the day before… But the velocity of the rally is raising eyebrows. It took just seven trading days for the Dow to climb from 25,000 to 26,000. While that is just a 4% advance, it’s part of a broader surge that has carried the Dow 42% during the Trump era. And the market rise has come with virtually no breaks.”
U.S. Industrial Production Rose 0.9% in December
U.S. industrial production rose sharply in December, boosted by gains in utilities output as cold weather swept across the nation and increased demand for heating.
MONEY ON THE HILL
Senate Majority Leader Mitch McConnell, R-Ky., flanked by Sen. John Barrasso, R-Wyo., left, and Majority Whip John Cornyn, R-Texas, speaks to reporters about efforts to avoid a government shutdown. (AP Photo/J. Scott Applewhite)
— Shutdown showdown. The Post’s Mike DeBonis, Ed O’Keefe, and Erica Werner: “Bitter divisions in both parties threatened Wednesday to derail Congress’s effort to keep the federal government fully operating past the end of the week. The shutdown threat emerged on two fronts: Republican defense hawks in the House said a short-term spending plan the party introduced late Tuesday did not devote enough money to the military. Meanwhile, Democrats, whose support would be critical for passage in the Senate, began lining up in opposition amid pressure from immigration activists to use the budget talks as leverage to legalize many young immigrants known as ‘dreamers.’ By Wednesday evening, the short-term bill was on the cusp of failure…
House Republicans unveiled a bill Tuesday that would extend funding for four weeks, allowing time for further negotiations toward deals on long-term spending and immigration. To entice Democrats, GOP leaders attached a six-year extension of the popular Children’s Health Insurance Program, as well as the delay of two unpopular health-care taxes. But few, if any, Democrats have been swayed by the overture.”
— Tax bill fails to crack majority. Politico’s Toby Eckert: “Support for the Republican tax plan has ticked up slightly since [Trump] signed it into law, but it still hasn’t drawn the backing of a majority of voters, according to a new POLITICO/Morning Consult poll.
The GOP’s top selling point for the plan recently — a spate of employee bonuses and wage increases — was a wash in the poll. The tracking poll, conducted Jan. 11-16, found that a 45 percent plurality of voters backed the plan based on what they knew about it, up from 42 percent in a similar poll before the legislation was enacted on Dec. 22. Opposition in the new poll came in at 34 percent, down from 39 percent. Twenty percent of respondents were undecided, up from 18 percent. After respondents were told about the major provisions of the bill, support rose to 47 percent, opposition remained at 34 percent.”
— ICI reverses itself on fund rules. Politico’s Zachary Warmbrodt: “A prominent investment industry group is lobbying to keep in place major money market mutual fund regulations that it resisted only a few years ago. The issue will come to a head this week as the House Financial Services Committee votes on bipartisan legislation that would roll back regulations intended to prevent the kind of investor runs on money market funds that exacerbated the 2008 financial crisis. The Investment Company Institute, which represents money managers, did not support many of the safeguards the SEC enacted in 2014 but told senior lawmakers in a letter Friday that it now opposes the House bill that would defang the rules.”
GOP Senator to Block Two Trump Nominees Over Trade Concerns
A GOP senator with concerns about President Trump’s trade policy said Wednesday he would block two of the president’s nominees, saying the Trump administration hasn’t been responsive to his concerns on the issue.
Trump speaks during an interview with Reuters on Wednesday. (Reuters/Kevin Lamarque)
— Trump threatens NAFTA. Reuters’s Jeff Mason and David Lawder: “Trump on Wednesday said that terminating the North American Free Trade Agreement would result in the ‘best deal’ to revamp the 24-year-old trade pact with Canada and Mexico in favor of U.S. interests. Lawmakers as well as agricultural and industrial groups have warned Trump not to quit NAFTA, but he said that may be the outcome.
‘We’re renegotiating NAFTA now. We’ll see what happens. I may terminate NAFTA,’ Trump said in an interview with Reuters. ‘A lot of people are going to be unhappy if I terminate NAFTA. A lot of people don’t realize how good it would be to terminate NAFTA because the way you’re going to make the best deal is to terminate NAFTA. But people would like to see me not do that,’ he said. Trump’s comments come less than a week before trade negotiators from the United States, Canada and Mexico meet in Montreal for the sixth of seven scheduled rounds of negotiations to update NAFTA.”
Considers big “fine” against China. More from Reuters: “Trump and his economic adviser Gary Cohn said China had forced U.S. companies to transfer their intellectual property to China as a cost of doing business there. The United States has started a trade investigation into the issue, and Cohn said the United States Trade Representative would be making recommendations about it soon. ‘We have a very big intellectual property potential fine going, which is going to come out soon,’ Trump said in the interview. While Trump did not specify what he meant by a ‘fine’ against China, the 1974 trade law that authorized an investigation into China’s alleged theft of U.S. intellectual property allows him to impose retaliatory tariffs on Chinese goods or other trade sanctions until China changes its policies.”
Jerome Powell.. (Photo by Drew Angerer/Getty Images)
— Fed overhaul hits snags. The Post’s Heather Long: “In less than three weeks, the Federal Reserve, which is widely credited with playing a major role in leading the United States out of the Great Recession, will be under new leadership. Current Fed chair Janet L. Yellen is leaving, and Jerome Powell is President Trump’s nominee to take her place. But Trump’s efforts to remake the Federal Reserve will soon face key tests. The first hurdle will be the Senate. All of Trump’s appointees to the Fed require Senate approval, which has been slow in coming. Trump nominated Powell on Nov. 2, but the Senate didn’t act on his appointment before the end of the year, forcing the president to renominate Powell in 2018… Trump has made his priorities clear for a Powell-led Fed: He wants the stock market to keep soaring and the economy to grow faster. To make that happen, Trump would like interest rates to stay low and fewer restrictions on Wall Street banks. But Powell has been clear to stress the Fed’s independence — from Congress and the White House — in public appearances since his nomination.”
— Powell says he’ll hold Deutsche Banke accountable. Bloomberg’s Jesse Hamilton: “Donald Trump’s pick to run the Federal Reserve, responding to a key lawmaker’s concerns over the president’s ties to Deutsche Bank AG, said the agency will hold the German lender to the same standards as the rest of the industry. Fed Governor Jerome Powell answered a letter from Senate Banking Committee member Chris Van Hollen ahead of the panel’s vote on his nomination to become chairman, telling the Maryland Democrat that he’s committed to supervising banks “in an independent manner.” Powell’s nomination was advanced by the committee on Wednesday, with Van Hollen voting in favor.”
— Replacing Dudley. Reuters’s Jonathan Spicer: “Unions and groups advocating for retirees, teachers, housing, and workers’ benefits are among those visiting the ornate conference rooms of the Federal Reserve Bank of New York to lobby for a less conventional candidate to serve as its next president. New York Fed directors leading the search for a successor to chief William Dudley, seen as the second most influential policymaker at the U.S. central bank, invited the guests to last week’s meeting to seek their advice. According to attendees and others familiar with the search, the directors are close to a “long list” of candidates and appear set to begin formal interviews within weeks. Until then, directors Sara Horowitz and Glenn Hutchins are taking steps intended to head off any criticisms of opacity and lack of diversity that, in recent years, have stung presidential searches at other district Fed banks. The afternoon meeting with 11 advocacy groups last week marked what one attendee called an unprecedented gesture of public outreach.”
— Bannon agrees to Mueller interview. The Post’s Roz Helderman and Karoun Demirjian: “Former top White House adviser and Trump campaign strategist Stephen K. Bannon has agreed to an interview for special counsel Robert S. Mueller III’s Russia investigation likely to take place later this month, but his lawyer is pushing back against House investigators’ demands for an audience Thursday afternoon, arguing there is ‘no conceivable way’ Bannon will be ready for an interview on the panel’s terms. House Intelligence Committee members K. Michael Conaway (R-Tex.), who is leading the Russia investigation, and Adam B. Schiff (D-Calif.), the panel’s ranking member, sent a letter Wednesday to Bannon’s lawyer, William Burck, insisting that Bannon return to Capitol Hill on Thursday at 2 p.m. to comply with a subpoena they issued Tuesday after Bannon refused to answer questions, citing orders from the White House.”
— Probe could collide with midterms. Politico’s Darren Sameulsohn: “Robert Mueller’s Russia probe isn’t ending any time soon, and that’s bad news for President Donald Trump and congressional Republicans already bracing for a possible 2018 Democratic midterm wave. While many Republicans insist the Trump-Russia saga is overblown, they worry headlines about federal indictments, high profile trials—and a potential blockbuster meeting between Mueller and Trump himself—could obscure their positive message ahead of November elections and threaten their House and Senate majorities. In an ominous development for Republicans, a federal judge overseeing the upcoming trial of former Trump campaign manager Paul Manafort and his deputy Rick Gates rejected Mueller’s request to begin in May and instead outlined a scheduled start as soon as September or October — peak election season.”
Eric Trump’s 401(k) is up by 35 percent, but half of American families don’t even have one
“I didn’t think retirement was possible, and now it is,” he told Hannity.
Goldman Sachs headquarters. (AP Photo/Mark Lennihan, File)
— Goldman’s losing money. NYT’s Emily Flitter: “Goldman Sachs used to seem invincible. In the fourth quarter, it lost money. The Wall Street firm on Wednesday reported its first quarterly loss since 2011. It was the result of a one-time $4.4 billion charge stemming from the new tax law. But even ignoring that unusual event, Goldman’s weak core results showed how far the firm has fallen. The bank’s per-share earnings and revenue were both higher compared with a year earlier without the tax charge. But the results announced on Wednesday also revealed a decline in Goldman’s trading might, which has been drained by a potent combination of placid markets and quiet clients. Revenue in its business of buying and selling bonds, commodities and currencies — historically an engine of Goldman’s results — sank to $1 billion in the fourth quarter, half of what it was during the same period in 2016. For the year, net revenue in that business fell 30 percent. The drop sent Goldman’s shares down 3 percent on Wednesday.”
A man watches a screen showing the prices of bitcoin at a virtual currency exchange office in Seoul, South Korea. (AP Photo/Ahn Young-joon, File)
— Treasury sees a threat. Bloomberg’s Saleha Mohsin: “The U.S. Treasury views virtual currencies such as Bitcoin as an “evolving threat” and is examining dealers to make sure they aren’t being used to finance illegal activities, the undersecretary for terrorism and financial intelligence said. Treasury is working with the Internal Revenue Service examiners to review 100 registered digital currency providers as well as others that have not registered, Sigal Mandelker said in prepared testimony to the Senate Banking Committee on Wednesday. The department is also working with the Justice Department to pursue money laundering cases.”
— Bitcoin falls below $10,000. CNN Money’s Nathaniel Meyersohn: “Bitcoin keeps tumbling. The price of the volatile digital currency briefly dipped below $10,000 around 7 a.m. ET on Wednesday, its lowest level since late November, according to data from CoinDesk.com. Bitcoin has dropped nearly 30% this week and has lost almost half of its $19,343 peak value on December 16. Bitcoin approached its record as it launched on futures exchanges in the United States. But it has since fallen sharply. Other popular cryptocurrencies ethereum and ripple also have posted double-digit losses. One virtual currency exchange, Bitconnect, dived 93% late Monday. It’s unclear why bitcoin has had a rough week. Cryptocurrency is a murky market with frequent swings.”
— Ripple founder loses $44 billion. CNBC’s Evelyn Cheng: “The digital currency plunge has wiped billions from the paper fortune of a cryptocurrency billionaire in just a few weeks. Ripple’s XRP coin has fallen 74 percent from an all-time high of $3.84 hit on Jan. 4, erasing $44 billion from the holdings of Chris Larsen, co-founder and executive chairman of Ripple. With XRP trading near $1 Wednesday, Larsen now holds the equivalent of just $15.8 billion, according to CNBC calculations using figures from Forbes. Citing sources at Ripple, Forbes said earlier this month that Larsen has 5.19 billion of XRP and a 17 percent stake in the start-up. Ripple holds 61.3 billion of the 100 billion XRP coins in existence. At XRP’s peak on Jan. 4, Larsen was worth $59.9 billion. That made him one of the five richest people in the U.S. and wealthier than Google’s founders, based on Forbes’ rich list.”
— Stock market endangered? CNBC’s Stephanie Landsman: “A sustained sell-off in the cryptocurrency market will hit the stock market where it hurts, one major Wall Street firm warns. It’s a scenario investors are underestimating, according to Wells Fargo Securities’ Christopher Harvey. ‘We see a lot of froth in that market. If and when it comes out, it will spill over to equities,’ the firm’s head of equity strategy said Tuesday… ‘I don’t think people are really ready for that.'”
Goldman’s No. 2 Allegedly Swindled Out of $1.2 Million of Wine by Assistant
A former personal assistant to Goldman Sachs Group Inc. Co-President David Solomon faces federal charges that he stole more than $1.2 million of rare wine from his boss.
BlackRock Lets Its Hair Down by Offering Unlimited Time Off
BlackRock Inc., taking a page from Silicon Valley where ping-pong tables and on-site gyms are common perks, is offering unlimited time off.
A ‘House For Sale’ sign is seen outside a single family house in Uniondale, New York. (Reuters/Shannon Stapleton)
— Fannie, Freddie regulator: Take them private. Bloomberg’s Joe Light: “Fannie Mae and Freddie Mac’s regulator is throwing its voice into the debate about what to do with the two companies at the center of the U.S. mortgage system. In a proposal obtained by Bloomberg News, Federal Housing Finance Agency Director Mel Watt wrote that he and agency staff believe the mortgage market should be supported by shareholder-owned utilities with regulated rates of return and an explicit government guarantee of mortgage bonds. Watt sent the document, titled ‘Federal Housing Finance Agency Perspectives on Housing Finance Reform’ along with a letter dated Tuesday to Senate Banking Chairman Michael Crapo, an Idaho Republican, and Senator Sherrod Brown of Ohio, the panel’s top Democrat. By sharing the perspectives now, ‘we seek to provide our views independently and transparently to those who have requested them while continuing to provide technical assistance to the committee and its members on other proposals that may be introduced,’ Watt wrote.”
— Mulvaney moves to overhaul CFPB. LA Times’s Jim Puzzanghera: “On Wednesday, Mulvaney announced he was launching a review of the entire operation of the consumer watchdog agency created in the wake of the 2008 financial crisis. The bureau has provided Americans with billions of dollars in refunds and debt relief, often at banks’ expense. Republicans and many financial firms have complained that it has been too aggressive… The bureau said it would formally request public input about whether it is ‘fulfilling its proper and appropriate functions to best protect consumers.’ It will seek comment on its enforcement of consumer protection laws, drafting of regulations, oversight of financial firms, monitoring of the marketplace and public education. The first function to be examined: how the bureau demands information from financial firms during investigations.”
Asks financial firms for complaints. The Hill’s Sylvan Lane: The CFPB “is asking the firms its regulates to submit complaints about the agency’s core actions.The CFPB announced Wednesday that the agency will ask ‘for evidence to ensure the bureau is fulfilling its proper and appropriate functions to best protect consumers.’ The request is the latest step forward in acting Director Mick Mulvaney’s effort to draw back the bureau’s aggressive regulatory and enforcement actions. Mulvaney said in a Wednesday statement that it’s ‘natural for the Bureau to critically examine its policies and practices to ensure they align with the Bureau’s statutory mandate.'”
Cordray blasts. More from The Hill: “The former director of the… CFPB blasted his successor in a series of tweets Wednesday for attempting to unwind the agency’s rule on payday lending. Richard Cordray, the bureau’s first director, panned the CFPB’s plans as ‘truly shameful action by the interim pseudo-leaders’ of the bureau.” … ‘Let’s see the case be made, with full debate, on whether the zealots and toadies can justify repealing a rule to protect consumers against extortionate payday loans,’ Cordray continued.”
— Hoenig criticizes banking bill. Reuters’s Pete Schroeder: “A top official at a leading U.S. bank regulator is airing concerns about a Senate bill that would ease banking rules, saying parts of it could “significantly weaken” critical protections. Thomas Hoenig, the vice chair of the Federal Deposit Insurance Corporation, warned lawmakers that efforts to ease new rules around leverage and proprietary trading could encourage banks to take on excessive amounts of risk, and put the stability of the financial system at risk. Hoenig said he was broadly supportive of the bill primarily aimed at easing rules for smaller banks, crafted by Republicans and moderate Democrats on the Senate Banking Committee, but has concerns about a pair of key sections. In particular, Hoenig warned Congress’s attempts to relax burdens around the Volcker Rule and the supplementary leverage ratio would do more harm than good.”
— SCOTUS considers overtime rule. Washington Examiner’s Sean Higgins: “Looking under the hood and figuring out what is wrong is a popular cliche, but on Wednesday, the Supreme Court examined whether the workers who actually do that should be guaranteed overtime pay. The justices heard oral arguments in Encino Motorcars v. Navarro, a case involving whether the Fair Labor Standards Act’s overtime rules extend to “service advisers” at auto dealerships. It is the second time it has heard the case. Service advisers are the dealership employees who tell customers what repairs or other work their cars need. Congress exempted them from the overtime regulation in 1966, but in 2011, the Obama administration changed the rule and said service advisers should be able to claim overtime pay.”
— New late trading method gets SEC ok. Bloomberg’s Annie Massa: “Cboe Global Markets Inc. got regulators’ permission to challenge its chief rivals in U.S. equities, the New York Stock Exchange and Nasdaq Stock Market, during their crucial end-of-day auctions. The U.S. Securities and Exchange Commission will let the company begin Cboe Market Close, which the company says is a lower-cost way to carry out certain closing trades that may otherwise be completed at markets owned by NYSE Group and Nasdaq Inc. NYSE and Nasdaq had argued against approval, saying Cboe’s offering could tarnish the critical role played by auctions that set closing levels for thousands of U.S. stocks. NYSE and Nasdaq both stand to lose volume from any mechanism threatening their closing auctions. Cboe countered that their concerns were overblown, since some brokers already provide a similar function for customers. The SEC came down in favor of Cboe, according to a filing Wednesday.”
From Axios’s Chris Canipe and Steve LeVine: “Manufacturing jobs are up sharply from the recession:”
Manufacturing jobs are up sharply from the recession -> https://t.co/ygUkqf3zXl pic.twitter.com/59SV3JSQEk
— Axios Visuals (@AxiosVisuals) January 17, 2018
The American Enterprise Institute holds an event on “New thinking about poverty and economic mobility.”
The Cato Institute Policy Perspectives 2018 hosts a discussion on “A Fiscal Rule to Tame Federal Debt?”
The SEC-NYU Dialogue on Securities Markets – Shareholder Engagement will be held in New York on Friday.
From The Post’s Tom Toles:
Sen. Lindsey Graham tells lawmakers: “Stop the s-show and grow up:”
Here’s an ongoing list of White House staff, Cabinet members, and federal appointees who quit or were fired under Trump:
Here’s how tech companies are using algorithms to prevent extremist content:
Stephen Colbert talks about how “Fire and Fury” author Michael Wolff got access to the White House:
The Defense Advanced Studies Agency, NASA yet others are developing technologies that will extend the existence from the critical infrastructure wide, stopping satellites from being shipped towards the graveyard for a long time. (NASA)
NASA’s bold experiment to depend on contractors to supply a taxi run because of its astronauts towards the Worldwide Space Station is encountering troubles that may delay the very first flights and then leave the area agency without a method to get its astronauts towards the orbiting laboratory.
In prepared testimony posted to some congressional hearing around the status from the program, the federal government Accountability Office stated ongoing “delays and unsure final certification dates raise questions regarding if the U . s . States may have uninterrupted accessibility [space station] after 2019.”
If SpaceX and Boeing, the businesses NASA has hired to fly its astronauts to space, can’t meet NASA’s rigorous needs for human spaceflight by late the coming year, the area agency would need to still depend around the Russians, who charge greater than $80 million a seat to produce Americans to orbit.
Failing that, NASA would face the ignominious prospect the U . s . States would be unable to connect to the space station, which it’s spent vast amounts of dollars to construct and keep.
“We are here today searching at not just one, but two firms that are behind schedule, might not meet safety and reliability needs and may even put on cost overruns,” stated Repetition. John Babin (R-Tex.), the chairman from the House Science subcommittee on space.
He added the “situation will get a whole lot worse whenever we take a look at safety and reliability concerns surrounding both of these new systems.” Consequently, NASA might have to seek additional funding or accept and the higher chances. “Neither of individuals options is viable,” he stated.
NASA continues to be not able to fly humans towards the space station because the shuttle was upon the market this year. Since that time, the area agency has awarded contracts worth as much as $6.8 billion as a whole to Boeing and SpaceX to build up spacecraft able to flying humans back and forth from the station, which orbits our planet in an altitude of approximately 250 miles.
The reliance upon private-sector companies to carry out a function which had typically been purely the government’s domain was seen as an bold bet, one which would free NASA as much as pursue more ambitious deep space missions.
While Boeing includes a lengthy heritage wide, dating towards the beginning from the Space Age, and SpaceX continues to be offering the station with cargo and supplies for a long time, both information mill battling with deadlines and issues of safety within the “commercial crew program.”
Before they fly humans, Boeing and SpaceX must overcome complex technical issues with their spacecraft, the GAO stated. Boeing comes with an problem with its abort system that could make the spacecraft to “tumble,” posing “a threat towards the crew’s safety.” Boeing can also be addressing an issue that because the spacecraft reenters our planet’s atmosphere, heat shield could disconnect “and damage the parachute system,” the GAO found.
Before it enables SpaceX to fly, NASA must first see whether it may securely fuel its rocket as the astronauts take presctiption board — an element that the two the GAO and also the agency’s Aerospace Safety Advisory Panel stated might be a safety risk. In 2016, SpaceX’s Falcon 9 rocket exploded right into a massive fireball although it had been fueled in front of an electric train engine test.
Heading into 2018, this program reaches a vital juncture, as NASA will need to sign off on some key decisions about whether or not this thinks Boeing and SpaceX’s spacecraft can satisfy the agency’s rigorous safety standards.
In the annual report, NASA’s advisory panel lately authored that “we anticipate seeing several significant certification issues introduced to culmination over the following year that will need NASA risk-acceptance decisions in a high level inside the agency.”
Repetition. Dana Rohrabacher (R-Calif.) defended the businesses, saying they’d saved money and develop innovative approaches despite the fact that initially this program have been starved of cash, stunting development in the start.
“It appears like this program goes along once we thought it might, despite the fact that there has been glitches,” he stated. “But you will find glitches in the introduction of any new technology.”
The hearing may come as NASA lately announced the agenda for SpaceX’s test flights has tucked. Its flight without astronauts, this was scheduled for March, has become slated for August. And it is flight with crew pressed back four several weeks to December. Boeing plans an uncrewed flight in August, and something with astronauts in November — per month before SpaceX.
Boeing and SpaceX happen to be employed by years to have their spacecraft ready so they meet NASA’s rigorous safety standards.
In the annual report, NASA’s Aerospace Safety Advisory Panel lately authored that NASA “is addressing safety correctly, but human space flight is inherently dangerous.” It noted that particularly, orbital debris can cause a substantial danger. Wide, a small bit of debris, something how big a screw, can wreak havoc when orbiting at greater than 17,000 miles per hour.
Although the program is behind its original schedule, the report cautioned against prioritizing schedule over safety.
John Mulholland, Boeing program manager for commercial crew, stated the organization is “making steady progress on achieving certification” from NASA because of its Starliner spacecraft. He added that the organization exceeds “our needs for crew safety.”
Hendes Koenigsmann, SpaceX’s v . p . for build and flight reliability, stated SpaceX has “completed almost all technical development,” because it works toward flying its first mission with astronauts through the finish of the season.
William Gerstenmaier, NASA’s affiliate administrator for human exploration and processes stated that both companies make significant progress, which their success can help lay “a foundation for a less expensive and sustainable future for human spaceflight.”
But he added the “schedule with this activity has had more than initially envisioned.” And that he stated next season “will be particularly challenging for the team as probably the most difficult milestones are simply ahead.”
A lot of the vehicles displayed will finish up ferrying kids to soccer practice, starting road journeys and commuting between home and work every day.
That’s understandable. Most vehicles don’t leave all if they’re not made with a heaping dose of functionality in your mind.
However for their list, functionality continues to be thrown towards the wayside. Fundamental essentials cars that can draw attention, spike heart rates and achieve the type of speeds that may enable you to get tossed in prison.
Put together below are the fastest (and least practical) cars only at that year’s auto show:
[Apps, autonomy and possession: 3 ways driving is altering in 2018]
2018 Acura NSX:
based on the Vehicle Connection, an internet site that gives detailed vehicle reviews. “Its ragged edges are to date taken off everyday driving it’s been charged with driving just like a videogame. We are saying game on.”
2018 Alfa Romeo Giulia:
known as by Vehicle and Driver “an emotional, hot-blooded Italian sedan,” one which hits zero to 60 miles per hour in five.5 seconds.
2018 Corvette ZR1:
GM’s latest vehicle surrenders steering wheels, pedals — and human control
This automatic maid takes us a measure nearer to ‘The Jetsons’
stated Wednesday that it’ll spend $350 billion on development and make 20,000 jobs within the U . s . States within the next 5 years, outlining the very first time the way it invested within the U.S. economy following a new tax law passed late this past year.
Apple stated that as needed through the new law, it’ll pay $38 billion in taxes on its massive cash holdings overseas. The main one-time payment may be the largest announced as an effect of the tax law, experts stated.
“On the main one hands, this can be a record payment. However, it shows how effective they have been at gaming the system” all over the world, stated Edward Kleinbard, legislation professor in the College of Los Angeles.
Because of the new corporate tax rate of 15.five percent on overseas cash, that signifies Apple is coming back around $245 billion in cash towards the U . s . States. In the last earnings report, the organization reported it held $252 billion in cash overseas.
Apple has for a long time faced scrutiny and critique all over the world because of its tax policies. The organization lately decided to pay greater than $100 million (81 million pounds) in taxes to British government bodies after an audit.
It’s also lobbied for that U . s . States to ease tax rates on foreign profits introduced to the nation, stating that such changes allows the organization to take a position more freely within the U.S. economy.
“We believe deeply in the strength of American resourcefulness, and we’re focusing our investments in places that we may have a direct effect on job creation and job readiness,” Apple leader Tim Prepare stated inside a statement. “We possess a deep feeling of responsibility to provide to our country and those who help to make our success possible.”
That echoes statements Prepare made this past year, as he told the brand new You are able to Occasions that companies possess a “moral responsibility” to grow the economy within the U . s . States.
The White-colored House applauded Apple’s announcement. “Just because the President guaranteed, making our companies more competitive worldwide is converting straight into benefits for that American worker, through elevated wages, better benefits, and new jobs,” Lindsay Walters, a deputy White-colored House press secretary, stated inside a statement. Others, including AT&T, American Airlines and Walmart, also have linked worker bonuses to the brand new law.
Additionally towards the tax payment, Apple stated that more than the following couple of years it’ll considerably increase the 84,000 employees it’s within the U . s . States. The brand new jobs can come from hiring at Apple’s current locations and from the new campus centered on tech support team for purchasers. Apple will announce its location later this season. Additionally, it stated it intends to build several new data centers within the U . s . States — including formerly announced projects in New York and Iowa — and stated it broke ground on the new facility Wednesday in Reno, Nev. Overall, Apple will expend $10 billion on building data centers included in a $30 billion purchase of capital expenses.
It isn’t obvious the amount of a big change this really is from what the organization is presently spending. Apple has spent between $12 billion and $15 billion on projects for example facilities or land globally previously couple of years, although it hasn’t stated the amount of that visited U.S. projects.
The organization didn’t say the amount of its investments announced Wednesday were already planned.
Apple has faced repeated critique from U.S. lawmakers because of not generating of their products, like the iPhone, the iPad and Mac computers, within the U . s . States. Apple does have hardware within the U . s . States, but many of their goods are created and put together in China. The organization has recently centered on building more facilities within the U.S.
It’s also growing how big a formerly announced manufacturing fund to aid its network of suppliers for parts which go into its devices. That fund increases from $1 billion to $5 billion. This fund has bankrolled initiatives in Kentucky and Texas Apple didn’t offer further information on where it might purchase U.S. manufacturing later on.
Further investment may also get into coding and application-development education initiatives.
Analysts stated that overall this news will reflect well on Apple. “We believe 80% of Apple’s motivation associated with today’s news is perfect for economic reasons, 20% for political reasons, and both are great for the organization lengthy-term,” stated Gene Munster, a longtime Apple analyst and managing partner of Loup Ventures, stated inside a note to investors.
Apple’s stock closed up 1.65 % to $179.10 on Wednesday.
Find out more:
Walmart stated it’s giving its employees an increase. After which it closed 63 stores.
Firms that tie bulletins to goverment tax bill earn goodwill with Trump