Northrop Grumman and Airbus parent EADS defeat Boeing for $40 billion US airtanker contract

Saturday, March 1, 2008

Northrop Grumman and Airbus parent company European Aeronautic Defence and Space Company EADS N.V. (EADS) have unexpectedly defeated Boeing for a US$40 billion (GB£20.1 billion) contract to supply the United States Air Force (USAF) with 179 new aerial refueling tankers at a rate of 15 a year.

It is the biggest contract of its kind since the Joint Strike Fighter program. That contract was fought for between Boeing and Lockheed Martin, Lockheed ultimately winning the contest.

JSA Research defence analysist Paul Nesbit said that Maintenance, Repair and Overhaul (MRO) operations across the aircraft’s fifty-year service life could push the value of the contract as high as US$100 billion. Northrop Grumman CEO Ron Sugar said in an interview “Everyone told us we were crazy, that we had no chance. But we took a big swing and in this case, we hit a home run.”

USAF officials said that the contract had been awarded based on competence, track record and competitive pricing, with UBS analyst David Strauss saying “The key decision was the amount of fuel the bigger plane could carry. In the armed services, you can never have too much gas in the air.” USAF also denied that creating jobs in the US was a factor; job supply had been the reason Boeing were expected to win, with the airframer promising 44,000 new positions at 300 suppliers in 40 states.

The Northrop Grumman KC-45 tankers – more often known as KC-30s – are based on the Airbus A330 MRTT. The first four aircraft will be assembled at the main Airbus factory in Toulouse, France but by 2010-11 production of the remainder will be carried out at a facility in Mobile, Alabama. This is thought likely to create 1,500 to 2,000 jobs and support 25,000 others. 60% of the parts will be supplied by domestic manufacturers. EADS had previously announced plans to shift much production to the US due to the current weakness of the dollar.

General Arthur Lichte, head of USAF’s Mobility Command, said it is hoped the first aircraft can be tested in 2010 and in operation three years afterwards. USAF’s chief of staff General Duncan McNab stated “The tanker is the number-one procurement priority for us right now. It is the first step in our critical commitment to recapitalize our aging fleet to move, supply, and position assets anywhere.”

At a time when our economy is hurting, this is a blow not only to our state, but more than 40 states across the country who would help build this national plane.

There is still a possibility of Boeing challenging the decision; Boeing themselves were successfuly challenged by Lockheed and Sikorsky in 2006 over a US$10 billion contract to supply search and rescue helicopters to the Pentagon. A statement by Boeing given by Boeing spokesman William Barksdale said “Obviously we are very disappointed… Once we have reviewed the details behind the award, we will make a decision concerning our possible options.”

Washington senator Patty Murray, who hails from the same state where Boeing bases their commercial airliner operations, said in a critical statement “We are shocked that the Air Force tapped a European company and its foreign workers to provide a tanker to our American military. At a time when our economy is hurting, this decision to outsource our tankers is a blow to the American aerospace industry, American workers and America’s military.”

Washington representative Norm Dicks said he too was “shocked”, releasing a statement saying “This decision is even more disappointing because the Air Force had previously favored the Boeing 767 tanker and we were prepared to move forward with the production of 100 tankers in 2003, before the process was halted due to the Boeing scandal. I regret that it has taken so long to respond to what was—and is—an urgent need to replace these older aircraft. And even more regrettable is the decision to award the contract to Airbus, which has consistently used unfair European government subsidies to take jobs away from American aircraft workers.”

Kansas senator Sam Brownback said “It’s stunning to me that we would outsource the production of these airplanes to Europe instead of building them in America. I’ll be calling upon the Secretary of Defense for a full debriefing and expect there will be a protest of the award by Boeing.” Todd Tiahrt, a Kansas representative, said “We should have an American tanker built by an American company with American workers. I cannot believe we would create French jobs in place of Kansas jobs.”

A group of Washington politicians released a joint statement saying “We will be asking tough questions about the decision to outsource this contract… At a time when our economy is hurting, this is a blow not only to our state, but more than 40 states across the country who would help build this national plane.”

Alabama Governor Bob Riley said “To say this is a great day for Alabama is a monumental understatement. This will go down in history as one of our greatest days.” Ralph Crosby, EADS’s North America CEO and ex Northrop executive commented the business has “committed our full resources to support this vital program for our prime contractor, Northrop Grumman, the Air Force, and the war fighters that this system will serve for decades to come. We already have begun the work necessary to expand our U.S. industrial footprint in support of this important program.”

EADS chief executive Louis Gallois commented “This major selection is a win-win for our customers, for allied industrial cooperation and for EADS. It signals a quantum-leap forward in our commitment to the US defence customer, reflects and supports our global strategy to increase EADS’s industrial presence in key markets and our goal to balance the company’s defence and commercial portfolios.” General Arthur Lichte said “This will be an American tanker, flown by American airmen with an American flag on its tail and, every day, it will be saving American lives.

Boeing had initially agreed to lease 100 tankers, but in 2003 a scandal erupted when it emerged that Boeing executive Michael M. Sears arranged a job for USAF official Darleen Druyun while negotiations were still underway. Both served jail sentences for corruption charges and a competition was opened up to award a new contract.

Retrieved from “https://en.wikinews.org/w/index.php?title=Northrop_Grumman_and_Airbus_parent_EADS_defeat_Boeing_for_$40_billion_US_airtanker_contract&oldid=1973023”
Real Estate

Formula For Riches Review Perfect Guide To Develop An Investment Strategy In A Down Market

Formula For Riches Review – Perfect Guide to Develop an Investment Strategy in a Down Market

by

mjreview

Some people prefer these method :

1. Separate strategy and emotion

Inside a down market, some investors panic and then try to protect their assets by moving money out of an investment. When the marketplace goes up again, they become hopeful and decide to put their money back to the original investment. In a nutshell, emotions may cause individuals to buy high then sell low, which is the total opposite of what you need to be doing . Inside a down market it’s important to remain confident and never be influenced by temporary performance. Remember, if you’re investing inside a long-term goal for example retirement, time is generally always in your corner. So unless your goals change, it’s wise to produce a strategy and stick with it.

2. Make the most of dollar cost averaging

By investing a set fee of money at regular intervals over a long period of time, you purchase more shares when the market is low and fewer shares once the marketplace is high. The advantage is that your average cost per share becomes less than the average selling price over time. Dollar cost averaging does not guarantee a profit or force away loss in a down market. It is however, a simple and effective way to beat the emotion of investing.

[youtube]http://www.youtube.com/watch?v=fWoFfQEz3qs[/youtube]

3. It is time in the market that counts

It’s not easy to stay optimistic about your investments when your statement shows they’ve lost value. It might be tempting, in fact to reallocate funds into more stable options. If you find yourself tempted to abandon your investment funds, consider this: While stocks can be a higher risk in the temporary, the long term gains can be quite substantial.

4. Keep a long-term perspective

Through the years, there have been many market downturns. When the market starts to rise, the next year often produces significant returns. Nobody can predict whenever a down market can finish which means you shouldn’t jump to the stock market and watch for recovery. You should however, conserve a diversified portfolio which includes stocks, bonds, and money market investments. The very best defense against a down marketplace is a diversified portfolio.

For some reason, it seems rather difficult for most people to perform, but you do not worry because there are more creative ways to do it.

Now, let s talk about Formula For Riches from Dr Hannes Dreyer and how it might help you. I really hope this simple Formula For Riches Review will assist you to differentiate whether Formula For Riches is Scam or a Real Deal.

In a down market it can be challenging to look for the best investment strategy for your portfolio. The volatility of market performance can make one nervous as you would expect that could lead to investment choices you might regret afterwards. It’s important to set aside emotions when creating any type of investment decision and especially inside a down market. Listed here are four ways to ensure market turbulence more tolerable.

By applying the Formula For Riches investment strategy you will learn how to decrease your risk and at the same time how to increase your growth on your investments.

Several tips you need to know :

– Have realistic expectations

– Don’t make hurried decisions

– Do your research prior to making any investment choice

– It’s important to spend some time in developing your investment strategy inside a down market so you’re not second guessing your decisions later on.

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ArticleRich.com

Living with HIV during COVID-19: Wikinews talks to HIV-positive sex workers about how pandemic has affected their lives

Sunday, October 18, 2020

The spread of coronavirus led to a global pandemic, affecting various daily activities. Originated in Wuhan, China, the virus spread globally, and by March, drastic measures were taken by the Indian government. Some branches of the South Western Railway of India had started taking precautions by distributing masks to ticket collectors and guards from as early as March 8. Some colleges were suspended by March 13, their exams post-poned as the government introduced lockdown and enforced social distancing.

Announced in the evening, Indian Prime Minister asked the countrymen to get the essential products and avoid going out as much as possible. Long queues outside the grocery shops, people in masks, some in N-95 masks, and hand sanitisers at the gates of megamarts were a common sight. There were reduced items in the shops, and some stores had a limit of number of customers allowed in the store at any given time. Food delivery services, and taxi services were on haitus — workers who dependent on the profession for their daily income, while software engineers were working from home. Physical classes in schools and colleges were replaced by online lectures to prevent social gatherings.

While many relied on technology for continuing their work and earn their livelihood, Wikinews reached out to sex workers in Mysore in June who unlike others can’t maintain social distancing for their work. Two sex-workers, Akram Pasha, and Jaya (a pseudonym), who were a part of sex-worker’s group called “Ashodaya Samithi” discussed how their lives had been affected by the coronavirus, the lockdown and the restrictions they had faced.

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Intel launches 45nm “Penryn” processor aiming for energy-efficiency

Tuesday, November 13, 2007

This week in Taiwan Intel and other technology companies showcased server and computer hardware with processors built using “Penryn” technology, the second generation of quad core technology that is produced with the high-k metal Hafnium that has come to replace halogen and lead components, which are not environmentally safe.

This new 45 nanometer (45nm) process technology included features on Intel Streaming SIMD Extensions 4 (SSE4) compatible with video decoding (encoding) software, “Radix 16” which increased computing efficiency, and “deep power down” technology for energy efficiency. For the SSE4 feature, this will benefit makers of high-definition and AV-media, as both HDMI and 1080p are supported.

Companies that will participate in the Taiwan Informonth exhibition next month, announced that some products with “Penryn” processors will be on the market by then. Some companies like Tyan and Supermicro will provide small business solutions as well as enterprises solutions. This launch will be tied to other unveilings by the IT and AV-media industries in Taiwan.

Retrieved from “https://en.wikinews.org/w/index.php?title=Intel_launches_45nm_%22Penryn%22_processor_aiming_for_energy-efficiency&oldid=666412”

NASA: Series of errors led to loss of Mars Global Surveyor

Saturday, April 14, 2007

A complex series of events, including a five month-old computer error, was responsible for the battery failure that led to the loss of NASA’s Mars Global Surveyor last year, an internal review board says. Findings from a preliminary report released on Friday say that while NASA controllers followed procedures while operating the craft, the procedures did not cover the types of errors that occurred.

According to NASA, on November 2, 2006, the Global Surveyor was ordered to perform a routine adjustment of its solar panels. However, the Global Surveyor reoriented to an angle that exposed one of its two batteries to direct sunlight. The battery overheated, which led to the depletion of both batteries. An incorrect setting in antenna orientation prevented Global Surveyor from relaying its status to NASA controllers. Its preprogrammed systems did not take into account the need to maintain a thermally safe orientation.

That was the last communication that NASA controllers had with the spacecraft.

The Global Surveyor was the first US mission to Mars in twenty years, For ten years, the craft returned detailed information to NASA scientists providing new insights, including evidence that appeared to show the presence of water on Mars and identification of deposits of water-related minerals, which led to selection of a Mars rover landing site.

“The loss of the spacecraft was the result of a series of events linked to a computer error made five months before the likely battery failure,” said Dolly Perkins, board chairperson and deputy director-technical of NASA’s Goddard Space Flight Center.

The board concluded that NASA controllers had followed procedures, but that the procedures did not adequately cover the type of errors that occurred. In its final report, the board will offer recommendations applicable to future missions.

“We are making an end-to-end review of all our missions to be sure that we apply the lessons learned from Mars Global Surveyor to all our ongoing missions,” said Fuk Li, Mars Exploration Program manager at NASA’s Jet Propulsion Laboratory.

The Global Surveyor was the longest operating spacecraft at Mars and had lasted four times longer than expected.

Retrieved from “https://en.wikinews.org/w/index.php?title=NASA:_Series_of_errors_led_to_loss_of_Mars_Global_Surveyor&oldid=4453730”
Insurance

How High Dividend Paying Stocks Can Make You Rich

By Chris E Chamberlain

Stocks with higher dividends, for years, were considered safer investments. Similar to a company that pays higher salaries and gives higher raises over time. A shift occurred in the 1990s, though, as companies with extremely high growth prospects (but little, or no, earnings) came to dominate the landscape. Thats not to say these companies were completely without meritthe internet (and technology, in general) ushered in a new paradigm of truly transformational companies with spectacular growth prospects.

But making a bet on a companys future growth is exactly thata bet on future growth. While, dividends reflect the health of a companys growth right now.

Things are beginning to change. The wild capital appreciation in the 90s allowed investors to bet on tiny internet companies that were little more than ideasand make millions from huge run-ups in the stock when things hit big. Since 2000, however, the story has changed. Capital appreciation is no longer considered an entitlement by participants in the equity market and dividends have now become an increasing source of reliable returns. As John D. Rockefeller once said, Do you know the only thing that gives me pleasure? Its to see my dividends coming in.

Another important characteristic of dividend returns is their stable nature. A stocks dividend is the less volatile component of its total return and is much more predictable than price appreciation which is a function of a wide array of factors like speculation, market sentiment, macro-economic factors, etc.

[youtube]http://www.youtube.com/watch?v=kO2R_DDZPCM[/youtube]

From 1989 to 2008, the volatility of the S&P BMI index was 13.96%, while the annual volatility of dividends was only 0.27%!

Of the stocks included in the S&P 500 Index, 256 began or increased their dividends in 2010, compared to only five that stopped or decreased their dividend, according to Standard and Poors. And 42 of those stocks had increased their dividends each year for the past 10 years.

In The Future for Investors, Jeremy Siegel advocates a long term dividend-reinvestment strategy based on research showing that dividend-paying stocks have outperformed non-dividend payers over time. The same can be said of todays dividend payers. The S&P 500 Dividend Aristocrats have outperformed the S&P 500 Index over the one-, three-, five-, 10-, 15-, and 20-year periods ended Dec. 31, 2010.

Now that weve established that dividend paying stocks are an integral part of building sustained wealth over time, the next step is to narrow our focus on which dividend paying stocks to invest in. Especially if were deciding to invest for the long-haul, its important to remind yourself that youre not just buying a stockyoure actually buying a fractional ownership in a company. And in return for this ownership interest you will be entitled to any cash earnings that management decides to pay out in the form of dividends. Remember, however, that not all dividends are created equal and several factors must be considered before committing your hard-earned cash. Approach this problem as if you were buying the entire companynot just making a few mouse clicks on Etrade.

So, what should you consider when choosing a dividend paying stock?

1. Initial yield what does the stock yield today? This is, after-all, the point of investing in dividend-paying stocksto get the dividend, so it should compare favorably to other dividend-paying instruments, namely bonds & bank CDs. The current environment happens to be extremely favorable for dividend investing but over the years this hasnt necessarily always been the case.

2. The reliability of the dividend this is an important point. Many people get seduced by a super-high dividend only to see the company cut it in order to save cash. A lot of companies did this in 2008 and in many cases, it was actually a prudent deployment of capital.

After all, if a company is facing bankruptcy or cutting its dividend in order to build up its balance sheet, the dividend should gobut thats little consolation if you were an investor counting on that dividend.

About the Author: http://www.DividendInvesting101.com is dedicated to finding the best investment opportunities among

high dividend paying stocks

. Systematically investing in the best dividend paying stocks is absolutely one of the best ways to build real wealth – as well as a powerful passive income stream.

Source:

isnare.com

Permanent Link:

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U.S. and China in trade dispute

Saturday, September 19, 2009

The United States (U.S.) and China this week initiated a trade dispute over tires, auto-parts, and poultry products just a week ahead of the 2009 G-20 trade summit in Pittsburgh, Pennsylvania.

The most recent trade policies enacted by the U.S. government includes a September 12 decision to impose a 35% trade tariff on Chinese tire imports as an anti-dumping measure. The trade policy came about as a result of a trade-complaint initiated by the United Steelworkers Union (USW) filed before the U.S. International Trade Commission. As reported by Steve Levine of BusinessWeek, “In [the USW’s] trade complaint to the U.S. International Trade Commission, the USW invoked a provision in China’s 2001 accession to the World Trade Organization (WTO) that allows protection from surging imports from the country [China]. The union documented a tripling of Chinese tire imports from 2004 to 2008 […]” The Trade Commission initially recommended a 55% tariff however, President Obama agreed to only 35%. The trade tariff will be diminished by 5% per year for the next three years to 25%. The deadline for President Obama’s decision was September 17. The trade tariff will take effect on September 26, pegging rates at the new level from the current 4%. The dispute will now move to the WTO where it can take up to 18 months for adjudication.

To quantify the impact of the tariff, in 2008 China supplied US$1.8 billion in tires to the U.S. or about one-third of the U.S. market, with two-thirds of U.S. companies producing their tires in China. It’s likely that the effects of the suit will exceed $1 billion in trade costs, as reported by several other news agencies.

On the 14th of September, the Chinese government via its Ministry of Commerce website, announced that they would institute an investigation into the dumping of U.S. auto parts and chicken products; they are also filing a complaint at the WTO regarding this matter. A formal announcement of trade tariffs against U.S. goods has not occurred.

The two countries’ executive and economic teams will meet in Pittsburgh for the G-20 meeting on September 24 and 25 to discuss these and other economic issues.

Retrieved from “https://en.wikinews.org/w/index.php?title=U.S._and_China_in_trade_dispute&oldid=2933942”

Ontario Votes 2007: Interview with Communist Party candidate Johan Boyden, Toronto Centre

Friday, October 5, 2007

Johan Boyden is running for the Communist Party in the Ontario provincial election, in the Toronto Centre riding. Wikinews interviewed him regarding his values, his experience, and his campaign.

Retrieved from “https://en.wikinews.org/w/index.php?title=Ontario_Votes_2007:_Interview_with_Communist_Party_candidate_Johan_Boyden,_Toronto_Centre&oldid=1838596”

Ontario Votes 2007: Interview with Progessive Conservative candidate Tyler Currie, Trinity-Spadina

Monday, October 1, 2007

Tyler Currie is running as an Progressive Conservative candidate in the Ontario provincial election, in the riding of Trinity-Spadina. Wikinews’ Nick Moreau interviewed him regarding his values, his experience, and his campaign.

Stay tuned for further interviews; every candidate from every party is eligible, and will be contacted. Expect interviews from Liberals, Progressive Conservatives, New Democratic Party members, Ontario Greens, as well as members from the Family Coalition, Freedom, Communist, Libertarian, and Confederation of Regions parties, as well as independents.

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Financial Solutions

Credit Card Processing And Business Cash Advance Strategies

Credit Card Processing and Business Cash Advance Strategies

by

Stephen Bush

We are highlighting ten key difficulties to avoid when seeking business cash advances and working capital using credit card processing. It is especially important for business owners to realize that it is not necessary to accept any of the ten credit card factoring problems.

[youtube]http://www.youtube.com/watch?v=5O_Ao9w1u7c[/youtube]

Credit card processing and small business loan strategies are closely connected in many ways. Business owners should not overlook the substantial working capital benefits which will accrue to their business by effectively coordinating credit card factoring and processing. If the ten most common business cash advance problems can be avoided, the total business benefits will be maximized. Even thriving small businesses frequently need more working capital than they can borrow from a bank. One of the most important commercial financing needs for any business is ensuring that short-term cash requirements are successfully met. This is frequently a difficult task. The use of a viable business cash advance strategy has become an increasingly important business finance tool for many businesses faced with a potential short-term cash shortfall. There are a number of common problems (noted below) to anticipate and avoid when businesses use credit card processing to acquire working capital advances. Most merchants have documented credit card processing activity and sales volume. Since up to $300,000 and more can typically be obtained using a business cash advance based on future sales, documentation of processing activity is a valuable financial asset. Businesses should realize that there are several recurring problems that should be anticipated prior to using this strategy for working capital business cash advances. Highlighted below are ten common credit card receivables problems to be avoided when business owners are considering this financing approach. First, many lenders will attempt to charge closing costs. Business owners should realize that this is an unnecessary transaction cost for business cash advances when dealing with a truly reputable provider of working capital financing based on credit card factoring. Second, many lenders for these services also charge up-front fees. With the best programs there are not likely to be any up-front fees, and this is a transaction cost that can and should be avoided. Third, many programs for business cash advances have collateral requirements. For business owners seeking credit card financing, this is an unnecessary requirement and should be avoided. Fourth, a number of providers will require tax returns and financial statements for business cash advances regardless of size. Such additional documentation requirements should only be necessary for larger working capital advances. Fifth, monthly fixed payments to repay merchant cash advances are imposed by some providers. The preferred approach is to avoid such fixed payment requirements. Sixth, some providers impose a fixed term for repayment. This requirement to pay off the business cash advance over a fixed term should be avoided. Seventh, many business finance programs require businesses to have at least two years of operating history to qualify for working capital business cash advances. While many business owners can meet such a requirement, a more practical standard for newer businesses is a minimum of one year in business. Eighth, most business cash advance providers require credit scores of at least 680. In today’s difficult economic climate, this can be a challenging requirement. It is feasible to obtain this kind of working capital financing with scores around 500. Ninth, for merchants needing larger business cash advances, it will be disappointing to learn that many programs are limited to a maximum of $25,000 to $50,000. Providers that are better capitalized for this business finance strategy will be able to accommodate an advance of $300,000 and higher. Tenth, many providers will require 12 to 24 months of documented credit card sales of $12,000 to $25,000 or more. A more practical possibility for business owners will involve a transaction history with six months of $5,000 or more. It is not likely that all ten of the obstacles described above will be pertinent for all business owners. Business borrowers are likely to experience several of these problems if they are considering a business cash advance that uses credit card factoring and credit card processing. Can all ten credit card finance obstacles discussed above be avoided? There are indeed viable credit card receivables programs which avoid all of the problems described. For any business owner considering this approach to working capital financing, it is probably worth repeating that it is not necessary to accept any of these problems in order to obtain business cash advances based on future sales.

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Article Source:

ArticleRich.com