Did The Used Rolex Watch Market Finally Bottom?
Did The Used Rolex Watch Market Finally Bottom? In December, we asked if the secondary market for pre-owned Rolex and Patek Philippe watches was finally bottoming after a vicious bear market. Bottom? Turmoil In Used Rolex Market Might End After Fed's Bizarre Pivot After four months of stabilization, the Bloomberg Subdial Watch Index, which tracks prices for the 50 most-traded watches by value on the secondary market, appears to have found at least a temporary floor between $33,800 and $33,600. The index has crashed 42% since reaching a high of $58,570 in March 2022 (during the Covid mania). Demand for luxury used watches has cooled over the last two years. Luxury has plunged into turmoil because of soaring borrowing rates hammering demand for watches, purses, and jewelry. But ever since the Federal Reserve pivoted in the interest rate hiking cycle in December, prices of used Rolex Daytona, Patek Philippe Nautilus, and Audemars Piguet Royal Oak watches have been possibly bottoming: Rolex Submariner Patek Philippe Nautilus Stainless Steel Moonphase Audemars Piguet Royal Oak Jumbo Ultra Thin Rolex Daytona Rolex GMT-Master II Pepsi The only issue for those attempting to bottom fish is if the Fed's policy shift was premature... Tyler Durden Tue, 03/19/2024 - 05:45.....»»
Sam Altman says he doesn"t think the world "needs another copy of Google" because "that"s boring"
Altman said he found the idea of building a better search engine than Google "boring." "I don't think the world needs another copy of Google," OpenAI CEO Sam Altman said.Fabrice Coffrini/AFP via Getty Images; Tayfun Coskun/Anadolu Agency via Getty ImagesOpenAI's Sam Altman isn't interested in beating Google at search.Building a better search engine than Google, Altman said, is "boring.""I don't think the world needs another copy of Google," Altman told podcaster Lex Fridman.OpenAI CEO Sam Altman says he isn't interested in beating Google in the search business."I find that boring. I mean, if the question is if we can build a better search engine than Google or whatever, then sure, we should go, people should use the better product," Altman told podcaster Lex Fridman in an interview that aired Monday. "But I think that would so understate what this can be."Altman made the remarks while responding to Fridman's comparisons between OpenAI's ChatGPT and Google's search engine."The thing that's exciting to me is not that we can go build a better copy of Google search, but that maybe there's just some much better way to help people find and act on and synthesize information," Altman continued."I don't think the world needs another copy of Google," Altman told Fridman.To be sure, Google hasn't ignored the threat posed by key players in the artificial intelligence market, like Altman's OpenAI. On Monday, Bloomberg reported that Apple was in talks to integrate Google's chatbot, Gemini, into the iPhone.The tech giant's AI ambitions did take a hit last month after some social media users accused Gemini and its creators of being "woke." Google received multiple complaints that its chatbot consistently generated images of people of color in inaccurate historical contexts.On February 22, Google said it was pausing Gemini's image-generation feature. The company said it would "re-release an improved version soon."Representatives for OpenAI didn't immediately respond to a request for comment from Business Insider sent outside regular business hours.Read the original article on Business Insider.....»»
Dry January spurred record non-alcoholic drink sales at Soho House
The club's CEO said non-alcoholic drink sales hit record numbers in January, even as overall food and beverage spend softened in the fourth quarter. Booze-free drinks are gaining Wall Street attention as Dry January gains popularity.Andrew H. Walker/Getty Images for Soho House and Irina Marwan/Getty ImagesDry January is boosting the sales of non-alcoholic drinks at companies like Soho House.Soho House's CEO said the company saw its biggest ever spike in mocktail sales in January.Bars were hit hard by Dry January, with sales in the UK down 11.5% compared with 2023.Dry January — the annual rite of atonement that involves temporarily swapping cocktails for non-alcoholic libations — is becoming so popular that it's showing up on Wall Street's radar.On Friday, the head of the exclusive hotel and social club chain Soho House said the company saw a record rise in non-alcoholic drink sales during this year's Dry January. The bump came even as members spent slightly less than last year on food and beverages in the three months before January."What we also saw in January was a much bigger spike in non-alcoholic beverage consumption, much more than we've ever seen before," said Andrew Carnie, the chief executive officer of Soho House, on the company's earnings call.The company did not respond to a request for comment from Business Insider.In addition to boozy, classic cocktails, Soho House, which has 44 club locations from London to Bangkok, serves a variety of "no and low" alcohol options, such as virgin versions of an Old Fashioned and a Moscow Mule. The company also offers alcohol-free draft beer and non-alcoholic wine, according to its website.The Soho House brand has long prided itself on being associated with all things cool and en vogue — and the low-to-no booze trend is no exception.In early February, data company CivicScience polled 1,500 US-based adults over the age of 21 about their drinking habits. A quarter of those surveyed said they took part in Dry January this yearThe non-alcoholic drinks market is expected to make up nearly four percent of the current $517 billion overall alcohol market by 2027, according to beverage research company ISWR.Non-alcoholic beverages aren't just for teetotalers — many consumers are looking to swap some drinks out. Millennials are the most interested in non-alcoholic drinks, compared with older and younger peers, per ISWR.Celebrities including Blake Lively, Katy Perry, and Bella Hadid have all recently launched lines of alcohol-free wines or spirits.This January was one of the driest and bleakest months for pubs across the UK as more people gave up booze and bad weather lowered foot traffic, The Guardian reported. UK bar revenues in January were down 11.5% compared with the same period in 2023, according to market researcher CGA.The trend of staying sober at the beginning of the year was launched in 2013 as a campaign by British charity Alcohol Change to promote the benefits of cutting back on alcohol.Read the original article on Business Insider.....»»
Biden Wants To Hike Taxes By $7 Trillion Dollars
Biden Wants To Hike Taxes By $7 Trillion Dollars Authored by Mike Shedlock via MishTalk.com, If Democrats win the trifecta with a clean sweep of the Senate, House, and White House in November, taxes would rise by $7 trillion over 10 years. The House Ways and Means Committee reports The Biden Tax Hike Will Likely Exceed $7 Trillion. I believe they mean would not will. Tax Details President Biden Quietly Pledges to Let Trump Tax Cuts Expire Sending Jobs and Companies Overseas with Higher Business Taxes than China Global Tax Surrender Allows Foreign Governments to Take American Tax Dollars President Biden’s proposal to raise the top rate to 39.6 percent goes after small business owners who pay their business taxes via their individual tax return – despite his pledge not to raise taxes on small businesses. A Tax on Wealth You Haven’t Even Earned Yet. Higher Prices for Energy Bills and an Energy Insecure America. An IRS That Would Terrify Godzilla A friend of mine asked when will the tax hikes cause a recession. I replied never. I suspect my friend was confused over the title that said “will” it should say “would”. I did not total up all of those details because I don’t believe it’s going to happen. However, It is a warning shot as to what would happen if Democrats did win the trifecta. Biden’s Populist Budget The Hill comments Biden’s populist budget marks the overdue end of trickle-down economics Trickle-down refers to the idea that tax cuts for the wealthiest “trickle down” to the rest of us. It’s long been a popular idea in Washington, but it’s just not true. A few years ago, the London School of Economics studied 50 years of such “trickle-down” policies in 18 industrialized nations, including the U.S., and found that their only result was increasing the wealth of the already wealthy. So how do we get prosperity for the rest of us? By taxing extreme wealth and investing those revenues in social goods like education, housing, food and health care. President Biden’s recently released federal budget plan follows that blueprint, putting the value of investing in American families and communities ahead of slashing taxes for the rich. The budget for the fiscal year 2025 would generate about $5.3 trillion in revenues over the next decade. That’s a $388 billion boost compared to last year’s budget — and it all comes from fairer tax policies targeting wealthy individuals and large corporations. Households earning less than $400,000 would see no tax increases, with many seeing reductions. The proposed budget invests $2.3 trillion towards essential public services for hard-working families while reducing the national debt by almost $3 trillion. That’s a great start toward filling critical investment gaps for families and communities. Take housing. The National Low Income Housing Coalition reports a shortfall of more than 7 million affordable housing units for poor and low-income Americans. Biden is requesting $33 billion for the Housing Choice Voucher program, which currently helps over 2 million households afford housing and would expand access to homeownership for first-time homebuyers. His request will help to support the existing vouchers and add about 20,000 more. Though much more is needed, this effort to reduce homelessness by providing access to safe affordable housing in a tight housing market — with high rent prices and often insufficient wages — is a step in the right direction. Normally writers for The Hill are not nutzoid liberal like the above article. But it’s not going to happen unless you think Democrats can pull off a trifecta. Nonetheless, the budget is instructive as are CBO and Fed projections. I will have some comments on those projections Sunday or Monday. Optimism reins supreme, and it won’t happen. Tyler Durden Mon, 03/18/2024 - 19:00.....»»
Google Denies Election Interference After Report Cites Dozens Of Instances Helping Dems, Censoring Republicans
Google Denies Election Interference After Report Cites Dozens Of Instances Helping Dems, Censoring Republicans.....»»
High-Schoolers Are Losing Confidence In The Benefits Of A College Degree
High-Schoolers Are Losing Confidence In The Benefits Of A College Degree Via Campus Reform, A recently released study that involved focus groups and a national study explores how high school students and non-enrolled adults ages 18-30 view the prospects of a college degree. New data suggests that prospective college students are finding fewer and fewer reasons to obtain a degree. Inside Higher Ed recently highlighted a new report by the Gates Foundation-funded HCM Strategists and Edge Research revealing that high school students and young adults have a declining view of the benefits of a college degree. The study, ”Continuing to Explore the Exodus from Higher Education,”compares the results of focus groups and a national survey conducted in 2023 to findings from a 2022 Gates Foundation report titled, “Where are the students?.” Researchers found that high schoolers and non-enrolled adults ages 18-30 still associate some benefits with attending college, but those perceived benefits were in decline compared to findings from 2022. The percentage of non-enrolled adults surveyed who consider reasons to go to college, such as to gain more money or get a better job, as important or very important has also dropped from the year before. At the same time, however, non-enrolled adults continue to perceive an increasing benefit to other options such as licenses, certificates, and trade schools. In conclusion, the study’s researchers write that, “Despite our understanding of the value of higher education, perceptions among these high school students and non-enrolled audiences make it clear that institutions need to prove their value to them.” ”In particular, why does the value of a 2-year or 4-year degree outweigh the value of credentials and job training programs?,” the researchers write. “Both High Schoolers and Non-Enrollees see and select other paths that are shorter, cheaper, and/or more directly linked to specific job opportunities.” “At the end of the day, higher education has a lot of work to do to convince these audiences of its value,” HCM consultant Terrell Dunn told Inside Higher Ed. Tyler Durden Mon, 03/18/2024 - 19:40.....»»
Timothée Chalamet already has audiences" hearts. The latest box-office numbers show he has their wallets, too.
Thanks to star turns in "Wonka" and "Dune: Part Two," Timothée Chalamet has become one of Hollywood's most bankable box-office stars. Timothée Chalamet in "Wonka."Courtesy of Warner Bros.Timothée Chalamet's recent films, 'Wonka' and 'Dune: Part Two,' have both surpassed the $200 million mark at the domestic box office.No film had crossed $200 million domestically since "Oppenheimer" last August.Chalamet, whose global box office total is over $2.5 billion, is proving he'll be a box-office draw for years to come.He's got the talent. He's got the fans. And now Timothée Chalamet has the box-office coin to prove he's one of the biggest draws in the movie business.After years of building an impressive filmography through the indie film world in movies like "Call Me by Your Name," "Lady Bird," and "Little Women," and heeding the words of Leonardo DiCaprio ("No hard drugs and no superhero movies") Chalamet, 28, has recently found himself a repeat visitor to the top of the box-office charts.He's the face of recent hit releases "Wonka" and "Dune: Part Two," which are currently in the top five of highest-grossing domestic titles in 2024.Timothée Chalamet in "Dune: Part Two."Warner Bros.Both titles have also surpassed the $200 million milestone domestically, something no other titles released this year have done so far. In fact, no movie has topped $200 million at the domestic box office since "Oppenheimer" did it in early August during the Barbenheimer craze.While having two major films released less than three months apart could make a star risk being overexposed, fans clearly haven't gotten enough of Chalamet. Sure, it helps that both his projects were based on beloved IP with built-in fanbases — "Wonka" is a fresh take on the character from Roald Dahl's "Charlie and the Chocolate Factory," while "Dune: Part Two" is based on Frank Herbert's sci-fi series — but Chalamet's success can't be credited to familiar IP alone. Without his on-screen magnetism, both these films would be far less compelling — and if the box-office numbers are any indication, audiences know it, too.Watching Chalamet now is almost the equivalent of seeing a young Tom Cruise in the 1980s in movies like "Risky Business" and "Top Gun," imagining where his talents could take him in the decades to come.Directed by Luca Guadagnino.Sony Pictures Classics/Warner Bros. Pictures/Memento Films InternationalJust how rare is Chalamet's recent box-office dominance? Not counting animated releases or Marvel titles, the last actor to have two films that grossed $200 million domestically this close together was John Travolta in the late 1970s, when he starred in "Saturday Night Fever" and "Grease," which opened six months apart, according to Indiewire. Chalamet pulled it off in half that time (though, to be fair, movie tickets cost a lot more now than they did back in the '70s)."The question often arises as to who will be the next young movie star; someone who can combine the acting chops, inherent likability, plus the bonus of box-office bankability, and the answer is undeniable, it's Timothée Chalamet," Comscore senior media analyst Paul Dergarabedian told Business Insider, noting that Chalamet's personal worldwide box office total is over $2.5 billion to date."Chalamet has been making great choices over the years, methodically and carefully building a well-earned reputation as an actor who is appealing to global audiences," Dergarabedian added. "He's shown a range that has allowed him to thrive in films of any genre and with budgets big and small."Timothée Chalamet attends CinemaCon 2023.Alberto E. Rodriguez/Getty ImagesChalamet is currently filming an upcoming biopic on Bob Dylan, which will certainly raise his profile even more as he portrays one of the greatest musicians who ever lived.In a time when Hollywood is desperately trying to determine the next generation of bankable stars, Chalamet is looking like a sure bet."With decades of work ahead of him, the sky's the limit for this rising young star," Dergarabedian said.Read the original article on Business Insider.....»»
Olympic skier Lindsey Vonn hates the cold. Now, she"s happily living in Miami.
Lindsey Vonn may have started skiing when she was 3 in Minnesota. But now that she's retired, the world-class athlete is happiest in Florida. Lindsey Vonn attends Carbone Beach on May 7, 2023, in Miami Beach.Alexander Tamargo/Getty Images for American Express Presents Carbone BeachLindsey Vonn may be an Olympic skier, but she actually hates cold weather. Vonn told Business Insider she moved to Miami for the sunshine and couldn't be happier. The world-class athlete retired in 2019. Now, she's making waves in the corporate world. Lindsey Vonn will forever be known as one of the most famous ski racers in the world — but that doesn't mean she has to live in the cold.The Olympian — who started skiing at the age of 3 in Minnesota — now calls Miami home. And she couldn't be happier."I really don't like the cold at all," Vonn told Business Insider on the red carpet during Time's "Women of the Year" gala in Los Angeles on March 5. "I think sometimes I might be a little too hot in Miami, but I would much rather be hot than too cold."Vonn retired from alpine ski racing in 2019. Michael Kappeler/picture alliance via Getty ImagesVonn currently lives in a $10.5 million waterfront home in Miami Beach that she bought in August 2023, according to The Real Deal."I like being in my swimsuit, playing with my dogs in the water. They love it," she told BI. "My dog Leo and I are both getting old. Our joints hurt, so being in the warm weather is very helpful."Vonn, who retired from alpine ski racing in 2019, is now focused on entrepreneurship. She's an investor in Angel City FC, the National Women's Soccer League team in Los Angeles, as well as the fitness companies Hyperice and Tempo, according to Fortune. She's also been a brand ambassador for Red Bull and Under Armour for 20 years and has her own production company, Après ProductionsThe slopes might be different from the corporate world, but Vonn told BI the transition hasn't been difficult. View this post on Instagram A post shared by L I N D S E Y • V O N N (@lindseyvonn) "It's very similar dynamics," Vonn said. "When I was racing, I was negotiating a fair amount of my own contracts. I really tried to make partnerships, and I built a lot of great relationships over time.""The corporate world is very similar," she added. "It's about building those connections with people. When I look to do business, I'm looking at the CEO and who they are as a person and how they're going to lead the company. I've found some really incredible leaders that I admire and respect, and those are the kinds of people that I want to keep close and learn from. Hopefully, that helps me in this next chapter."Vonn is also setting her sights on the upcoming summer Olympics — this time as a fan."I'm excited for everything," Vonn said. "I think having the Olympics in Paris is going to be truly incredible. You have events overlooking the Eiffel Tower. You have the opening ceremonies on the Seine.""And, obviously, Simone Biles," she added. "I think it's going to be truly spectacular."Read the original article on Business Insider.....»»
Western militaries need to start figuring out how to fight long and bloody attritional wars like Ukraine, former Army officer warns
Attrition could define future wars between near-peer powers, Alex Vershinin wrote, and the West isn't prepared for that type of fighting. A Ukrainian soldier of the Khartia brigade fires an AK-47 pellet gun from a trench during a training as the Russia-Ukraine war continues in Donetsk oblast, Ukraine, on February 7, 2024.Diego Herrera Carcedo/Anadolu via Getty ImagesWestern militaries aren't ready to fight wars of attrition like the Ukraine war, a former Army officer argues.Great power conflict may not be quick and decisive and could boil down to attrition.The war in Ukraine has shed light on what resources and preparations are needed to win.There's a real possibility that a future great-power war might look a lot like Ukraine, and Western militaries aren't as ready as they should be for this kind of long, bloody fight, a former Army officer argued in a new article.Though its hard to say when talking major powers with nuclear arsenals, great-power conflict could result in a protracted attritional kind of warfare. Western militaries haven't been preparing for that type of fighting, and it may need a change in strategy, resource management, and training."In attritional wars, military operations are shaped by a state's ability to replace losses and generate new formations, not tactical and operational manoeuvres," retired US Army lieutenant colonel Alex Vershinin explained in a Royal United Services Institute commentary, "The Attritional Art of War: Lessons from the Russian War on Ukraine," published Monday. Unlike maneuver warfare, which is aimed at quickly and violently defeating an enemy, the attritional fight takes time, maybe years."The side that accepts the attritional nature of war and focuses on destroying enemy forces rather than gaining terrain is most likely to win. The West is not prepared for this kind of war," he said.Vershinin noted that Western militaries have long seen attritional conflicts as exceptions to be avoided at all costs in favor of the shorter, maneuver-focused clashes. Rather than a "decisive battle" through maneuver warfare, "attritional warfare focuses on destroying enemy forces and their ability to regenerate combat power, while preserving one's own," he wrote, noting that a successful attritional strategy "accepts that the war will last at least two years."Between near-peer rivals, such as China and the US, victory in combat may be about who has the ability to replace losses and keep fighting. Stronger military powers are far more likely to have widely available resources and recruits, meaning fighting could drag on, similar to what's being seen in Ukraine, where the Russians are battling NATO-backed forces in Kyiv.A Ukrainian soldier loads a machine gun inside a trench amid Russia and Ukraine war in Donetsk Oblast, Ukraine on August 17, 2023.Ignacio Marin/Anadolu Agency via Getty ImagesOn both sides of the war, firepower has proven vital, as has the ability to outgun and outlast, chipping away at enemy positions and maintaining pressure. After Ukraine initially fought off Russia's invasion of Kyiv in the early weeks of the full scale invasion, Western assistance packages largely helmed by the US gave it the ammunition it needed to both defend itself and attack Russian positions.The rate of fire in Ukraine has been astonishing — Russian forces averaged 15,000 shells a day throughout 2022 — and both sides have been burning through stockpiles. Both the West and Russia have ramped up production and industrial capacity to meet demand, and the war has since prompted the US Army to at least question how much ammunition it actually needs to fight future conflicts."Wars of attrition are won by economies enabling mass mobilization of militaries via their industrial sectors," Vershinin wrote in his RUSI commentary. "Armies expand rapidly during such a conflict, requiring massive quantities of armored vehicles, drones, electronic products, and other combat equipment."Important, too, is the ability to strike deep into enemy territory, overwhelm defenses, and target its facilities and infrastructure. This aspect has been seen throughout the war in Ukraine as well, with both sides using a mix of long-range assets and drones to target energy hubs, civilian centers, and other key sectors with the purpose of damaging production and supply lines.Ukrainian soldiers fire with the Archer Artillery System on Russian position on January 3, 2024, in Donetsk Oblast, Ukraine.Photo by Roman Chop/Global Images Ukraine via Getty ImagesThe war in Ukraine has also demonstrated the importance of being able to quickly replenish depleted forces, making up for high casualties on the battlefield.Russia has been able to do this successfully, rebuilding manpower despite suffering high losses, upwards of over 300,000 casualties according to Western estimates. Ukraine currently faces a shortage of recruits, and its parliament is currently debating a bill intended to expand mobilization and enforce stricter draft rules.Ukrainian President Volodymyr Zelenskyy has been warning for months that the army faces a severe shortage of qualified troops on the front but has not been able to present a clear strategy for how to conscript or recruit the forces needed. The president's former top commander, Gen. Valery Zaluzhny, often argued for further mobilization.According to Vershinin, Western forces could face personnel issues, as their NATO armies value professional and experienced non-commissioned officers (NCOs) and troops that, if taken out of battle, aren't easily replaceable."The most effective model" for an army, he wrote, is a balanced mixture of a NATO-style "medium-sized professional army" with a Soviet-style "mass of draftees available for mobilization."Future large-scale conflicts could also look a lot like the battlefields in Ukraine in other ways, potentially riddled with challenging technologies like evolutions in electronic jamming and drones, as well as artillery, mines, and traditional infantry. This makes logistics and planning key, adding complexities to fighting.Read the original article on Business Insider.....»»
Photos show the US Army"s largest watercraft carrying equipment to build a floating pier in Gaza
The logistics support vessel USAV Frank S. Besson left the US with equipment to build a pier to get more aid into Gaza. Logistic Support Vessel General Frank S. Besson conducts operations.Photo by Petty Officer 2nd Class John StrattonThe US Army dispatched its largest vessel to the eastern Mediterranean on March 9.USAV Frank S. Besson is delivering equipment to build a temporary pier off the coast of Gaza.US President Joe Biden announced the port will be built to deliver more aid to Gaza.USAV Gen. Frank S. Besson departed for the Eastern Mediterranean on March 9 with equipment and supplies to build a temporary pier off the coast of Gaza.It was soon joined by four more Army watercraft carrying materials for the pier, followed by four more that will be deployed over the next month.The temporary pier is part of a US effort to "do more" to support Palestinians living in the war-torn enclave. At least a quarter of the population in the Gaza Strip is on the brink of famine, the UN Office for the Coordination of Humanitarian Affairs said.The US Army's biggest shipsThe US Army logistics support vessel General Frank S. Besson, Jr. passes the US Coast Guard cutter Dallas as it arrives at Naval Station Guantánamo Bay, Cuba.US Navy photo by Bill MestaThe US Navy isn't the only military branch with a fleet of maritime vessels. The US Army has its own naval force to transport soldiers and the combat gear they need, a fleet that includes landing craft, tugs, barges, and more.The Besson, the lead ship in its class, is a logistics support vessel, an amphibious landing ship designed to bring cargo to shallow terminal areas or underdeveloped coastlines, thanks to its ability to create a floating bridge.CapabilitiesUS Army personnel load welding equipment onto the General Frank S. Besson Jr. Logistics Support Vessel at Joint Base Langley-Eustis, Virginia.US Air Force photo/Airman 1st Class Kaylee DuboisAt 273 feet long with more than 10,000 square feet of deck area, the Besson-class vessels are among the US Army's largest ships.During Logistics Over-the-Shore operations, LSVs can carry up to 900 metric tons. During intra-theatre line-haul, they can carry up to 2,000 metric tons.The Besson is capable of hauling up to 15 Abrams main battle tanks at a time, up to 82 20-foot-long shipping containers, a tugboat, or even a C-17 Globemaster aircraft.Apart from transporting massive amounts of cargo along main supply routes, Besson-class LSVs also act as advanced bases and strategic sealifts, capable of deploying weaponry and vehicles to ports, harbors, inland waterways, and beach landings.Named after the first commander of the Army Materiel CommandSoldiers are seen boarding US Army Vessel General Frank S. Besson as the ship departed Joint Base Langley-Eustis en route to the Eastern Mediterranean.US Central Command Public AffairsThe ship bears the name of the first chief of the US Amy Materiel Command, Gen. Frank S. Besson. Born in Detroit in 1910, Besson later attended West Point in 1932 and graduated in the top 10 of his class.In 1945, Besson became the youngest Brigadier General in the Army Ground Forces during World War II at the age of 34. He helped oversee the flow of war equipment from the US to the Soviet Union. In 1962, he was promoted to Lt. Gen. and became the first commander of the Army Materiel Command.Following his retirement in 1969, he returned to service the following year to join the Joint Logistics Review Board as a chairman, later being appointed as a founding director and first CEO of the National Passenger Corporation by President Richard Nixon in 1970.Besson died of cancer in July 1985 at the Walter Reed Army Medical Center. He was 75.En route to GazaUS Army Vessel General Frank S. Besson departed Joint Base Langley-Eustis en route to the Eastern Mediterranean.US Central Command Public AffairsUS President Joe Biden announced during his State of the Union address on March 7 that the US plans to build the port on the Gaza coast to deliver more food, water, medicine, and temporary shelters.The Besson departed from Joint Base Langley-Eustis in Virginia on March 9 with equipment to build the Gaza port — less than 36 hours after Biden announced the Pentagon's plan to build the pier.Biden said "no US boots will be on the ground" in building the port, which would "enable a massive increase in the amount of humanitarian assistance getting into Gaza every day."On March 9, 2024, U.S. Army Vessel (USAV) General Frank S. Besson (LSV-1) from the 7th Transportation Brigade (Expeditionary), 3rd Expeditionary Sustainment Command, XVIII Airborne Corps, departed Joint Base Langley-Eustis en route to the Eastern Mediterranean less than 36 hours… pic.twitter.com/X70uttuY9J— U.S. Central Command (@CENTCOM) March 10, 2024 More USAVs set sail for GazaSoldiers fire an M2 .50-caliber machine gun from the aft section of the Logistical Support Vessel Gen. Frank S. Besson Jr.Photo by Staff Sgt. Alexander BurnettTwo days after the Besson set sail for the Mediterranean, four more Army watercraft followed, carrying more materials for the port.More vessels are set to depart for the East Mediterranean over the next month, including smaller landing craft, USAV Monterrey, USAV Matamoros, and USAV Wilson Wharf, led by Besson-class USAV SP4 James A. Loux.On March 12, 2024, U.S. Army Vessels (USAV SP4 James A. Loux (LSV-6), USAV Monterrey (LCU30), USAV Matamoros (LCU26), and USAV Wilson Warf (LCU11) from the 7th Transportation Brigade (Expeditionary), 3rd Expeditionary Sustainment Command, XVIII Airborne Corps, departed Joint Base… pic.twitter.com/ROc3CoLNM1— U.S. Central Command (@CENTCOM) March 12, 2024 An offshore pier and interlocking causewayLogistic Support Vessel General Frank S. Besson participates in a joint operation that consists of the loading and unloading of ships without fixed port facilities.Photo by Petty Officer 2nd Class Christopher HallThe temporary pier is set to be assembled like Lego bricks, according to PBS News Hour, with 40-foot-long interlocking pieces of steel that will form the pier and causeway that spans up to 1,800 feet long and two lanes wide.The plan is that vessels would offload supplies and aid on the temporary offshore pier, which smaller military vessels would transport to the temporary causeway for it to be driven to the shoreline.US Army Brig. Gen. Brad Hinson told USNI News that US Central Command and the Defense Department are "working with partners over in the area" to set up the pier."I'm not gonna go into the specifics of who we're working with in order to anchor the pier, but we will have some assistance to be able to do that," Hinson said. "We will not be on the shore, but we will be on the pier, and that pier can extend anywhere out from shore from 800 feet up to 2,000 feet."Other LSVsLogistics support vessel USAV SP4 James A. Loux prepares to unload vehicles onto the trident pier and be driven by the US Marines located in the United Arab Emirates.US Army photo by Spc. Travis TeateThere are eight LSVs operated by the Army in total, which succeeded the Newport-class tank landing ships, the last of which retired in 2002.Six ships — the Besson, CW 3 Harold C. Clinger, Gen. Brehon B. Somervell, Lt. Gen. William Bunker, Maj. Gen. Charles P. Gross, and Specialist 4 James A. Loux — were built for the Army between 1987 and 1994.In July 2005, the Army's seventh LSV, SSGT Robert T. Kuroda, was delivered, followed by the MGEN Robert Smalls in June 2006.Helicopter-capable LSVsLogistic Support Vessel General Frank S Besson conducts operations in support of Joint Logistics Over-The-Shore exercises.Photo by Chief Petty Officer Daniel TaylorLSVs are versatile ships that can be adapted to the assigned missions.The helicopter-capable LSV variant, currently in service with the Philippine Navy, transports and discreetly deploys helicopters and patrol boats.Beneath the patrol boats and intercept craft on its stern, helicopter-variant LSVs conceal attack helicopters below its modular flight deck, transporting firepower without an obvious display of force.Semi-submersible LSVsThe US Army logistics support vessel General Frank S. Besson Jr. is guided into the Windward Ferry Landing at the Naval Station Guantánamo Bay, Cuba.US Navy photo by Chief Mass.Communication Specialist Bill Mesta/ReleasedThe semi-submersible LSV variant, the more common type of the Besson-class vessel, has mobile repair and maintenance capabilities, transporting and launching cargo and vehicles as well as providing dry-dock and repair.With a semi-submergible hull, the LSV can load and unload large floating cargo, patrol boats, land vehicles, and more.Troop-carrier LSVCol. Kimo Gallahue talks with Lt. Col. Kenneth Williams aboard USAV Gen. Frank S. Besson Jr.Photo by Sgt. Mary KatzenbergerThe final type of LSV, the troop carrier, is used to efficiently deploy and relocate mariners and equipment. The troop-carrying LSV is fitted with canvas bunks and separate berthing areas, capable of accommodating 144 troops and six officers.Read the original article on Business Insider.....»»
The royals" old creed of "never complain, never explain" is a relic of a bygone era
"Never complain, never explain" is key to the British royal family's PR strategy, but the modern world values transparency over stoicism. Kate Middleton.TOM JENKINS/POOL/AFP via Getty ImagesThe British royal family's PR strategy seems to be in need of an update. "Never complain, never explain" is an outdated motto associated with the late Queen Elizabeth II.The palace's continued silence has brought the "Katespiracy" to new heights.When Prince Harry and Meghan Markle sat down with Oprah, excoriating "the firm" and leveling accusations of racism at the royal institution, Buckingham Palace's response was muted and in line with their ironclad public-relations strategy."The issues raised, particularly that of race, are concerning," the palace said in a statement. "Whilst some recollections may vary, they are taken very seriously and will be addressed by the family privately."The stoicism of the royal family's unofficial motto, "never complain, never explain," was a hallmark of Queen Elizabeth II's reign.Kate Middleton, Prince William, Prince Harry, and Meghan Markle at Windsor Castle.Chris Jackson/Getty ImagesKing Charles abandoned it to some extent when he waded into the fray and did press interviews about his marriage to Princess Diana and its ugly dissolution.But, by and large, the palace has refrained from commenting on or refuting allegations against family members or complaining about how they are and aren't treated.That veil of silence has mostly persisted regarding the family's health. King Charles' announcement of his cancer diagnosis in February provided scant details. When Kate underwent "planned abdominal surgery" in January, no details about her condition were given, even as conspiracy theories on her whereabouts reached frenzied heights.The temptation to default to dignified silence, a tried and tested strategy, may be the most comfortable and safe option for the royal family.After all, a lot of money rides on their stability and continued existence. In 2023, the British royals spent $136 million, which exceeded the $109.1 million allowance the monarchy received from the Sovereign Grant, an annual lump sum the UK government gives to maintain the monarchy.The family's continued role as royalty is also tied to extensive investments. The king earns millions in profits from the Duchy of Lancaster, a private estate the BBC reported was worth about $838 million. Prince William — who holds the title of Duke of Cornwall — benefits from the Duchy of Cornwall, a $1.2 billion estate that generated about $30 million in profits in the 2022 to 2023 financial year.Not explaining has only made things worse"The family motto is 'never complain, never explain.' But it's just a motto," Prince Harry told Anderson Cooper during a January 2023 episode of "60 Minutes."He went on to allege that the palace was fond of spoon-feeding inside information to royal correspondents.The intense mystery surrounding the "Katespiracy" has shown how little control the palace has over the narrative — particularly when they appear to prefer speaking off the record.For its part, Kensington Palace made a concerted attempt to stay removed from the noise, dispensing only the barest of hints about where Kate may be.Prince William, Prince of Wales and Catherine, Princess of Wales in February 28, 2023.Max Mumby/Indigo/Getty Images"As we have been clear since our initial statement in January, we shall not be providing a running commentary or providing daily updates," a palace spokesperson said on February 29.At the same time, unnamed sources spoke to the press about the princess' progress. A source who was reported to be a friend of Kate and William's told The Daily Beast in February that the public speculation would make them more determined to maintain their privacy."If William has read any of this stuff, it will only make him more determined to stick to his guns and keep his wife out of the limelight while she recovers. The stuff people are writing is toxic," the source said.Kate made a rare personal statement last week defending her edited Mother's Day photo. She didn't address the root of the problem, which was the mounting speculation over her absence. The statement was issued on social media rather than through an official press office, creating a barrier between the palace and the public.Evan Nierman, the founder and CEO of the crisis-communications firm Red Banyan, says that if Kate wants to recover her image, she must adopt the same authenticity that many of her online supporters (and critics) embody."In today's digital age, authenticity is not just valued, it's expected," Nierman told Business Insider.Nierman said Kate must "double down on transparency and authenticity" by sharing her real experiences and challenges with the public.'Never explaining' hasn't been relevant for a long timeThe "never complain, never explain" motto has long been associated with Elizabeth II, but it's thought that the 19th-century British prime minister Benjamin Disraeli came up with the concept, as Marie Claire reported.Kristen Meinzer, a royal commentator, told BI the mantra worked well for the late queen partly because she ascended the throne during an era "when the press and general public still maintained a certain level of reverence for authority figures."Queen Elizabeth II on her coronation day.Hulton Archive/Stringer/Getty Images"In other words, it wasn't just Elizabeth who was following the mantra; the press and public were as well," Meinzer said.Queen Elizabeth took the throne in 1952 and reigned for 70 years until she died in 2022.Meinzer said several factors, including cultural shifts and a "growing skepticism of governing figures," meant that complaining and explaining became commonplace for the press, especially during Charles and Diana's divorce in the '90s.'A culture of secrecy 'It's about more than just a motto — it's about the royal family's relevancy, which is especially important as calls for abolishing the monarchy have reached new heights in recent years.The UK anti-monarchy group Republic has launched a campaign to end royal secrecy, homing in on the fact the royals are exempt from freedom-of-information laws in the UK.Graham Smith, CEO of Republic, protests on Edinburgh's Royal Mile on July 5.Danny Lawson - Pool/Getty ImagesIn recent years, there have been calls for the royals to be more transparent about the contents of their wills and private assets."It does damage their standing, and the obvious question is: What are they hiding?" Graham Smith, CEO of Republic, told BI.Smith said Kate's situation "throws a spotlight on the culture of secrecy" within the royal institution."It highlighted what a lot of people have known. This is not an institution that is known for its openness and honesty," he said.Buckingham Palace declined to comment.Read the original article on Business Insider.....»»
A frequent flyer who"s racked up over 23 million miles shares the best way to pack for a trip
Tom Stuker, who holds a lifetime pass with United, said he also doesn't bring along pillows or blankets on flights. Tom Stuker bought United's lifetime pass in 1990 and has racked up over 23 million points.Tasos Katopodis/Getty ImagesTom Stuker, who holds a lifetime pass with United, said he only packs the bare necessities.Stuker said he only packs one item of clothing as a backup.He also said that he doesn't bring along pillows or blankets on flights.A frequent flyer who's racked up more than 23 million points shared the best way to pack for a trip.Tom Stuker, who works as a car dealership consultant in New Jersey, told The Washington Post that he packs as minimally as possible whenever he travels. Stuker said that he only packs the bare necessities and one backup — and it can't be complicated to clean."Try to pack light and only use a carry-on. Most places have inexpensive laundromats within walking distance," Stuker told the Post in an earlier interview.When it comes to packing clothes, Stuker said that he does two things — he rolls some of them and keeps the rest in hangers and plastic garment bags from dry cleaners. The one thing Stuker often packs in his carry-on is a pair of Lululemon pants, which he says works for both business and pleasure.Toiletries are something Stuker said he doesn't pack that much of, adding that he can buy and replace these items while traveling. Stuker told the Post in the interview that he also doesn't bring along pillows or blankets on flights.Stuker purchased a lifetime pass with United Airlines for $290,000 in 1990, visiting over 100 countries and racking up millions of miles in the process. United stopped selling the pass in 1994. Stuker and United did not immediately respond to a request for comment from Business Insider.Stuker isn't the only frequent flyer who believes in traveling light. A man who's traveled with his family full-time since 2020 said he only packs clothing that matches everything else he brings along. A solo backpacker who's been to 40 countries said that she regularly repeats outfits while traveling.Read the original article on Business Insider.....»»
Bond yields close to key level that could put more pressure on stocks, Morgan Stanley says
The 10-year Treasury yield on Monday was near "an important technical level" that could put more pressure on stocks, Morgan Stanley said. Bond yields have edged higher in 2024.Getty Images Bond yields are back in focus this week as the Fed gets kicks off its policy meeting. The 10-year is close a level that could put pressure on stock prices, Morgan Stanley said. Long-term bond yields peaked above 5% last October. The 10-year yield was about 3.34% Monday. The stock market has sidestepped concerns of higher bond yields so far this year as investors have ridden the artificial intelligence hype train and enjoyed a strong earnings season, but Treasurys are nearing a level that could put pressure on stocks again, Morgan Stanley says. Strategists led by Michael Wilson said in a note on Monday that the 4.35% mark for the 10-year US Treasury has been viewed as "an important technical level" to signal the potential for higher rate sensitivity for stocks.The key bond yield was just one basis point below that level on Monday afternoon, hovering around 4.34%, and yields could be volatile this week as the US central bank delivers its latest messaging on the direction of monetary policy. "We think a key question for this week is whether the direction of rates will begin to matter more for the valuations of large cap equities," the analysts wrote in the note.Yields on long-term bonds peaked last October, coinciding with a low in the stock market. The latest equity rally kicked off with the Treasury indicating less new issuance than markets had expected and the Fed's nod to easing monetary policy at its final meeting of the year"This surprise occurred at a time when a large part of the bond community was short duration, which in addition to the Fed's 4Q policy shift, helped fuel a squeeze into year end," the note said, adding that multiple expansion driven by falling bond yields accounted for almost all of the stock market's returns during this period.Still, the bank acknowledged that while rising bond yields are in focus again, investors this year appear to have largely begun to look past the influence of monetary policy in favor of corporate earnings growth and enthusiasm for AI. "From an equity standpoint, the rise in rates this year has not had the typical effect on valuations—i.e., P/E multiples have remained elevated in the face of rising rates," the note added. The strategists said they're eyeing the 10-year Treasury yield's 200-day moving average as the Fed kicks off its meeting this week. "Should rates decisively fall back below the 200-day moving average, it could serve as support for equity valuations to remain elevated," they wrote.Read the original article on Business Insider.....»»
Trump, in 5,000-page NY fraud-case filing, says he can"t foot $456M appeal bond
Trump's lawyers say securing a bond for the $456 million he owes the state is "a practical impossibility." Justin Sullivan/Getty Images; Chelsea Jia Feng/BITrump's latest "I can't pay" comes one week before a deadline in his New York civil fraud judgment.He can't afford to buy an appeal bond, his lawyers say.Footing the full amount is "a practical impossibility," they wrote Monday.Former President Donald Trump cannot afford to post an appeal bond covering the $456 million he owes New York state from last month's civil fraud judgment, his lawyers said Monday in a court filing.The filing said Trump had just one week to secure the $1 billion in cash reserves needed to persuade a company to write a $464 million bond to cover the judgments for the former president and his three fraud-trial codefendants.Securing such a high bond in time to meet a March 25 deadline "is a practical impossibility," despite "Defendants' ongoing diligent efforts," they wrote the massive 4,919-page filing.Read Trump's filing here.The filing contained more than 3,000 pages of transcripts from the nearly 11-week civil fraud trial.Trump is asking an appellate panel in Manhattan to postpone, or "stay," the requirement that he post a bond while he appeals.He's planning on winning the appeal, he said, at which point he would owe the state nothing, or at least less.Surety experts have told Business Insider that Trump would need to set aside $500 million in cash to secure the appeal bond he needs.The filing said the actual amount he'd need to set aside would be much higher.Trump has approached "about 30 surety companies through 4 separate brokers" in hopes of fulfilling "an impossible bond requirement," it said."A bond requirement of this enormous magnitude — effectively requiring cash reserves approaching $1 billion, is unprecedented for a private company," it added.The premium alone — the generally nonrefundable price of the bond — would be $18.5 million a year for the life of the appeal, it said.The filing did not explain why the amount of cash that Trump would need to secure a bond was anywhere near $1 billion."While it is my understanding that the Trump Organization is in a strong liquidity position, it does not have $1 billion in cash or cash equivalents" on hand, one of Trump's insurance brokers, Gary Giulietti, said in an affirmation that's part of the filing.A 2023 Forbes analysis put Trump's net worth at $2.6 billion. In January, Bloomberg estimated that Trump had about $600 million in liquid assets.Former President Donald Trump Manhattan criminal court.Spencer Platt/Getty ImagesGiulietti, who heads Lockton Cos., earned $1.2 million in 2022 as Trump's broker, he said in October while testifying on Trump's behalf at the civil trial.Rather than requiring a bond, the filing argued, the appellate panel should recognize that Trump's real-estate holdings are enough of an IOU."Enforcing an impossible bond requirement as a condition of appeal would inflict manifest irreparable injury on Defendants," it said.Trump bears the brunt of the civil judgment. His two eldest sons and Allen Weisselberg, the Trump Organization's former chief financial officer, are also defendants but were hit with far lower judgments in the seven figures."By contrast, waiving the bond requirement will impose no cognizable harm on the Attorney General," the filing said, referring to Letitia James of New York.There are "no victims, no damages, and no actual financial losses" behind the attorney general's case, it said.James and the judge who presided over the trial, Justice Arthur Engoron of New York's Supreme Court, have contended that the state's marketplace was victimized by Trump filing a decade's worth of wildly exaggerated financial statements to banks."Donald Trump falsely, knowingly, inflated his net worth by billions of dollars to unjustly enrich himself, his family, and to cheat the system," James said in a post-verdict victory lap last month.The attorney general's office has opposed Trump's request for a stay, arguing that he should either post an appeal bond or the full judgment by the March 25 deadline — or else face the state seizure of his assets.Letting Trump off the hook, now, for what he owes New York would put the state's ability to ultimately collect the judgment at "significant risk," James lawyers wrote, predicting that he would attempt to evade his obligations after losing his appeal.Trump appealed the civil fraud judgment on February 26. The lead defense attorney in the case, Christopher Kise, said after the verdict that the judge committed "innumerable and catastrophic errors" and was "untethered to the law or to reality."As one of the first gambits in the appeal, Trump offered to post a bond for only $100 million; that offer has been preliminarily rejected by the appellate court.Earlier this month, Trump was able to secure a $92 million appeal bond to cover the January judgment in a defamation case filed by E. Jean Carroll.That bond was underwritten by the Federal Insurance Co., commonly known as Chubb, court documents showed.Chubb is among the 30 or so surety companies contacted by Trump's insurance brokers, Alan Garten, a Trump Organization attorney, said in an affirmation included with Monday's filing."According to Defendants' brokers, the vast majority simply do not have to financial strength to handle a bond of this size," Garten said."Of those that do, the vast majority are unwilling to accept the risk associated with such a large bond," absent a $1 billion commitment of cash, he said."Of even greater import, we are advised that none of the sureties approached by Defendants' brokers are willing to accept hard assets such as real estate as collateral for appeal bonds," he said.Chubb was the only surety company "willing to even consider accepting real estate as collateral" for the bond, he added, but "within the past week, Chubb notified Defendants that it could not accept real property as collateral."Correction: An earlier version of this story misstated the date of the deadline to secure a bond. The deadline is March 25, not March 18. Read the original article on Business Insider.....»»
Biden Embraces Schumer’s "Good Speech" Which Blasted Netanyahu
Biden Embraces Schumer’s "Good Speech" Which Blasted Netanyahu President Biden has endorsed Senate majority leader Chuck Schumer's blistering Thursday speech that targeted Prime Minister Benjamin Netanyahu wherein he said Israel under Netanyahu could become a "pariah". Biden said Friday that Schumer had made a "good speech". The president was asked about the Senate floor remarks during an exchange with reporters in the Oval Office. It was the first time Biden weighed in: "He expressed serious concerns, shared not only by him but by many Americans," Biden continued. Via AP Biden also noted that his staff had been notified ahead of time of the content of the speech, meaning the White House had time to pressure Schumer out of it if it wanted to, or at least get him to tone down the criticisms. As the AP noted, "The Democratic president did not repeat Schumer’s appeal for Israel to hold elections, a step that would likely end Netanyahu’s tenure because of mounting discontent with his leadership." But at the same time Secretary of State Antony Blinken while in Europe tried to calm fears that the US-Israeli relationship is collapsing. "That’s actually the strength of the relationship, to be able to speak clearly, candidly and directly," he told reporters in reaction to Schumer's address. The full Schumer speech, a transcript of which can be viewed here, included the below fierce condemnations aimed directly at Netanyahu: "However, I also believe Prime Minister Netanyahu has lost his way by allowing his political survival to take precedence over the best interests of Israel. He has put himself in coalition with far-right extremists like Ministers Smotrich and Ben Gvir, and as a result, he has been too willing to tolerate the civilian toll in Gaza, which is pushing support for Israel worldwide to historic lows. Israel cannot survive if it becomes a pariah. Prime Minister Netanyahu has also weakened Israel’s political and moral fabric through his attempts to co-opt the judiciary. And he has shown zero interest in doing the courageous and visionary work required to pave the way for peace, even before this present conflict. As a lifelong supporter of Israel, it has become clear to me: The Netanyahu coalition no longer fits the needs of Israel after October 7. The world has changed — radically — since then, and the Israeli people are being stifled right now by a governing vision that is stuck in the past." Again, this was a key part of the very speech which Biden on Friday hailed as "good". It also comes a week after Biden was caught on a hot mic saying he would have a "come to Jesus" meeting with Netanyahu. Kirby was later asked to elaborate on Biden calling Schumer's speech "good" - but the NSC spokesman didn't say much... Q: What did Biden find "good" about Schumer's anti-Netanyahu speech? JOHN KIRBY: "The passion!" pic.twitter.com/rZsWwNCb0O — RNC Research (@RNCResearch) March 15, 2024 According to Axios, Schumer's words were felt as a political earthquake inside Israel. The speech "landed like an earthquake Thursday, delivering a huge shock to the already tense U.S.-Israel relationship" as well as created "more political space for other Democratic members of Congress to publicly voice their criticism of the Israeli government amid the ongoing war in Gaza," Axios wrote. Tyler Durden Sat, 03/16/2024 - 21:35.....»»
Taiwan Confirms Presence Of US Green Berets On Islands Very Close To China"s Coast
Taiwan Confirms Presence Of US Green Berets On Islands Very Close To China's Coast Authored by Dave DeCamp via AntiWar.com, Taiwanese Defense Minister Chiu Kuo-cheng confirmed on Thursday the presence of US Army Special Forces soldiers in Kinmen, a group of islands that are controlled by Taiwan but located just off the coast of mainland China. Some parts of the Kinmen islands are just 2.5 miles away from the mainland Chinese city of Xiamen. The presence of US troops on the islands was first reported by Taiwanese media last month. Chiu confirmed the highly provocative deployment when asked about a new report from the US outlet SOFREP that said US Green Berets have taken up “permanent positions” as military advisors in Kinmen. The US soldiers are also deployed in Penghu, a Taiwanese-controlled archipelago about 30 miles west of the main island of Taiwan and 70 miles east of mainland China. The SOFREP report said the US Green Berets were stationed at the Taiwanese Army’s amphibious command centers. The deployment was carried out under provisions in the 2023 National Defense Authorization Act, which called for the US to create a comprehensive training program for the Taiwanese military. The new collaboration includes the US troops training Taiwanese forces on the Black Hornet Nano, a compact military drone. Chiu said the presence of the US Green Berets was a “learning opportunity” for Taiwan’s military. The US has significantly increased its military and diplomatic support for Taiwan in recent years, ratcheting up tensions with China. Last year, the US deployed around 200 troops to Taiwan, marking the largest known US military presence on the island since the US pulled its troops out after Washington severed diplomatic relations with Taipei in 1979. The US also recently began providing Taiwan with unprecedented military aid. Since 1979, the US has always sold weapons to Taiwan but never financed the purchases or provided arms free of charge until last year. Tyler Durden Sat, 03/16/2024 - 22:10.....»»
These Are The Top 15 Global Tank Fleets
These Are The Top 15 Global Tank Fleets Heavily armed and armored, the modern tank is a versatile and mobile weapons platform, and a critical piece of contemporary warfare. This visualization, via Visual Capitalist's Chris Dickert, shows the top 15 global tank fleets, using data from the 2024 Military Balance report from the International Institute for Strategic Studies (IISS). Let’s take an in-depth look at the top three fleets: 1. United States As the world’s pre-eminent military power, it’s perhaps no surprise that the United States also has the largest tank fleet, by a wide margin. In total, they have just over 45,000 armored fighting vehicles in operation, along with 2,640 main battle tanks (MBTs), and 12,800 vehicles in storage, of which 2,000 are main battle tanks. The U.S. is internalizing the lessons from the ongoing invasion of Ukraine, where Western-supplied anti-tank weapons and massed Ukrainian artillery have been cutting Russian tanks to pieces. As a result, the U.S. recently canceled an upgrade of the M1 Abrams in favor of a more ambitious upgrade. Meanwhile, the U.S. is nervously eyeing a more confident China and a potential clash over Taiwan, where air and naval forces will be critical. However, a recent war game showed that Taiwanese mechanized ground forces, kitted out with American-made tanks and armored fighting vehicles, were critical in keeping the island autonomous. 2. Russia According to Oryx, a Dutch open-source intelligence defense website, at time of writing, Russia has lost almost 2,800 main battle tanks since invading Ukraine. Considering that in the 2022 edition of the Military Balance, Russia was estimated to have 2,927 MBTs in operation, those are some hefty losses. Russia has been able to maintain about 2,000 MBTs in the field, in part, by increasing domestic production. Many defense plants have been taken over by state-owned Rostec and now operate around the clock. Russia is also now spending a full third of their budget on defense, equivalent to about 7.5% of GDP. At the same time, they’ve also been drawing down their Soviet-era stockpiles, which are modernized before being sent to the front. Just how long they can keep this up is an open question; their stockpiles are large, but not limitless. Here is what their storage levels look like: 3. China China holds the third overall spot and top place globally for the number of main battle tanks in operation. Untypically, the People’s Liberation Army has no armored vehicles in storage, which perhaps isn’t surprising when you consider that China has been rapidly modernizing its military and that stockpiles usually contain older models. China also has one of the world’s largest fleets of armored fighting vehicles, second only to the United States. Breaking down that headline number, we can also see that they have the largest number of light tanks, wheeled guns, and infantry fighting vehicles. This is equipment that would be integral if China were to make an attempt to reunify Taiwan with the mainland by force, where lightly armored mechanized units need to move with speed to occupy the island before Western allies can enter the fray. It’s worth noting that China also has one of the world’s largest fleets of amphibious assault vehicles. End of the Tank? Many commentators at the outset of Russia’s invasion of Ukraine, were quick to predict the end of the tank, however, to paraphrase Mark Twain, reports of the tank’s demise are greatly exaggerated. With the U.S. and China both developing remote and autonomous armored vehicles, tanks could be quite different in the future, but there is nothing else that matches them for firepower, mobility, and survivability on the modern battlefield today. Tyler Durden Sat, 03/16/2024 - 22:45.....»»
There"s so much excess wine that growers are ripping up vineyards and winemakers are destroying their product
Growers in Australia, California, and France are ripping up vineyards. The industry is facing an excess supply of wine as consumer preferences change. d3sign/Getty ImagesWine has a supply and demand problem: there's too much of it.Growers in Australia, California, and France are ripping up vines in response.A significant reason is that the demand for alcohol has declined.Shrinking demand for boozy beverages has contributed to an oversupply of wine.Now, some farmers in Australia, California, and France are tearing up entire sections of vineyards.Tony Townsend, a grower in South Australia, recently told Bloomberg he's destroying his 34-acre vineyard after taking care of the vines for years."I enjoyed being in the wine industry, but it was just economically unviable to continue this way," he told the outlet, adding that although his crop was healthy, harvesting it would've cost him $23,000.Townsend's not alone. Reuters reported tens of millions of vines will be ripped out in Australia to address the excess supply. As of last year, the amount of extra wine in storage in Australia was equal to two years of production, the outlet said, with some going bad before it could be sold."It feels like an era is ending," vineyard owner Andrew Calabria of Calabria Wines in Australia told Reuters, adding: "It's hard for growers to look out the back window and see a pile of dirt instead of vines that have been there as long as they've known."Excess supply is also impacting winemakers in Europe and the US.Last year, the French government — famous for going to great lengths to preserve its traditional culinary products — said it would spend $216 million on destroying excess wine in an effort to save the struggling industry. Instead of being consumed, the wine would be used to create industrial alcohol for products like perfume, hand sanitizer, and cleaning solutions.France is also subsidizing efforts by growers in Bordeaux to rip up about 10% of their vines.The San Francisco Chronicle reported some growers in California are destroying their vineyards, with some opting to grow other crops instead.One of the reasons behind the overproduction is simply a change in demand: People just don't drink like they used to.Wine consumption rose in the '90s when many believed it to be associated with good health, but as Americans have drunk less and less alcohol over the past decade, production has exceeded demand, the Chronicle reported."People in this business took it for granted that there was always going to be growth," Jeff Bitter, president of Allied Grape Growers in California, told the outlet.Read the original article on Business Insider.....»»
Three Killed In Falls Township Shootings, Suspect Andre Gordon Barricaded In Trenton With Hostages
Three Killed In Falls Township Shootings, Suspect Andre Gordon Barricaded In Trenton With Hostages.....»»