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JobsOhio using cash to edge out other states for new nonstop flights at Ohio airports

Since 2005, Ohio has seen a significant reduction in air service, losing service to 113 destinations. Among peer states, it also ranks at the bottom for seats per capita. JobsOhio is putting money toward changing that......»»

Category: topSource: bizjournalsMay 9th, 2021

United Airlines hit with record $1.9 million fine for delays that left passengers stuck on planes for lengthy periods

The US Transportation Department cited 25 incidents of tarmac delays on United planes between December 2015 and February of this year. The fine imposed on United was the largest of its kind, according to the Transportation Department. Thomas Pallini/Insider United Airlines has been hit with a $1.9 million penalty for long tarmac delays, per Reuters. A consent order cited 25 incidents that occurred between December 2015 and February of this year. The airline breached federal rules by keeping passengers stuck on planes for too long. See more stories on Insider's business page. United Airlines has been fined $1.9 million by the Transportation Department for keeping thousands of passengers stuck on planes for hours, in violation of federal rules, Reuters reported.It is the largest penalty of its kind to be imposed, according to the outlet. The department said in a consent order that United failed to adhere to the assurances in its contingency plan for long tarmac delays for 20 domestic flights and five international flights at airports across the US. A total of 3,218 passengers were affected.A tarmac delay occurs when a plane on the ground is either awaiting takeoff or has just landed and passengers do not have the opportunity to get off the plane.In one 2019 incident, a United flight en route to Chicago was diverted to an airport in Wisconsin, due to a winter storm. It was held on the tarmac for more than four hours.In a statement to Reuters on Friday, United said its "committed to fully meeting all DOT rules and will continue identifying and implementing improvements in how we manage difficult operating conditions." United Airlines did not immediately respond to Insider's request for comment. In July 2021, airlines reported a total of 40 tarmac delays of more than three hours on domestic flights, compared with 11 the month before, per the department. United is not the only airline to have faced sky-high penalties in recent years. In 2019, American Airlines and Delta Air Lines were fined a total of $1.75 million for long tarmac delays at US airports.Delta said at the time that it provided customers with substantial compensation for the delays, including cash reimbursements, SkyMiles, and future travel vouchers. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 25th, 2021

Looking for a Growth Stock? 3 Reasons Why Novo Nordisk (NVO) is a Solid Choice

Novo Nordisk (NVO) possesses solid growth attributes, which could help it handily outperform the market. Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. However, it isn't easy to find a great growth stock.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.Novo Nordisk (NVO) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.While there are numerous reasons why the stock of this drugmaker is a great growth pick right now, we have highlighted three of the most important factors below:Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.While the historical EPS growth rate for Novo Nordisk is 5.4%, investors should actually focus on the projected growth. The company's EPS is expected to grow 17.9% this year, crushing the industry average, which calls for EPS growth of 6.6%.Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.Right now, year-over-year cash flow growth for Novo Nordisk is 9.7%, which is higher than many of its peers. In fact, the rate compares to the industry average of 8.8%.While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 6.8% over the past 3-5 years versus the industry average of 6.5%.Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.The current-year earnings estimates for Novo Nordisk have been revising upward. The Zacks Consensus Estimate for the current year has surged 1.2% over the past month.Bottom LineNovo Nordisk has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.This combination positions Novo Nordisk well for outperformance, so growth investors may want to bet on it. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novo Nordisk AS (NVO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 24th, 2021

Looking for a Growth Stock? 3 Reasons Why Vectrus (VEC) is a Solid Choice

Vectrus (VEC) possesses solid growth attributes, which could help it handily outperform the market. Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. However, it isn't easy to find a great growth stock.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.Vectrus (VEC) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.While there are numerous reasons why the stock of this government services company is a great growth pick right now, we have highlighted three of the most important factors below:Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.While the historical EPS growth rate for Vectrus is 18.5%, investors should actually focus on the projected growth. The company's EPS is expected to grow 57.6% this year, crushing the industry average, which calls for EPS growth of 34.2%.Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.Right now, year-over-year cash flow growth for Vectrus is 1%, which is higher than many of its peers. In fact, the rate compares to the industry average of -0.2%.While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 9.4% over the past 3-5 years versus the industry average of 3.6%.Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.The current-year earnings estimates for Vectrus have been revising upward. The Zacks Consensus Estimate for the current year has surged 1% over the past month.Bottom LineVectrus has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #1 because of the positive earnings estimate revisions.You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.This combination positions Vectrus well for outperformance, so growth investors may want to bet on it. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vectrus, Inc. (VEC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 24th, 2021

U.S. Household Net Worth Hits Record High in Q2: 5 Picks

We have narrowed down our search to five large-cap stocks that have given double-digit returns in the past three months. These are: CLR, DAR, REGN, ORLY and MOS. The net worth of American households reached a fresh all-time high in the second quarter of 2021 supported by a faster-than-expected recovery of the U.S. economy from the pandemic-led devastations. On Sep 23, Fed reported that household net worth surged $5.85 trillion or 4.3% in second-quarter 2021 from the first quarter to reach $141.7 trillion.Year over year, the net worth of Americans jumped 19.6% as second-quarter 2020 was fully affected by the global outbreak of the deadly coronavirus. The value of equities increased nearly $3.5 trillion while the value of real estate held by households rose around $1.2 trillion.The U.S. economy grew 6.5% in the second quarter buoyed by a robust economic recovery. In absolute term, U.S. GDP in second-quarter 2021 came in at $19.4 trillion, exceeding $19.2 trillion recorded in fourth-quarter 2019, the last quarter before the global outbreak of coronavirus.Reasons for Surging Household Net WorthA sharp reduction in new coronavirus cases, nationwide COVID-19 vaccination and the gradual removal of economic and other day-to-day restrictions have resulted in a faster-than-expected reopening of the U.S. economy.Moreover, a massive $1.9 trillion fiscal stimulus injected by the Biden Administration in March and the continuation of easy monetary policies by the Fed, keeping the benchmark lending rate near zero and buying bonds of $120 billion per month helped in the U.S. economy's recovery and enhanced the household net worth.The U.S. stock market ended the second quarter of 2021 on a high note. The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — rallied 4.6%, 8.2% and 9.5%, respectively. Moreover, the small-cap specific Russell 2000 advanced 4.1% and the mid-cap centric S&P 400 gained 3.3%. All these reflect a broad-based rally in second-quarter 2021.On the other hand, the housing market has remained robust primarily due to record-low mortgage rates. The Fed adopted an ultra-dovish monetary stance and reduced the benchmark interest rate to as low as 0-0.25% in March 2020. The low rate of market interest rate significantly reduced mortgage rates, enabling consumers to buy houses. The strong demand has strengthened the real estate sector.Momentum Likely to ContinueThe Wall Street rally continued in the first two months of third-quarter 2021 before suffering a big blow in September. However, U.S. stock markets rebounded impressively in the last two trading sessions and recouped a large part of the loss it suffered in September. The Dow and the S&P 500 recorded their best two consecutive day rally since July and the Nasdaq Composite registered the best two successive day rally since August.In his statement after the conclusion of the two-day FOMC meeting on Sep 22, Fed Chairman Jerome Powell said “If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted.” However, the impact of tapering seems already factored in market valuations.Finally, on Aug 24, the House of Representatives advanced a $1 trillion bipartisan infrastructure bill. On Aug 10, the U.S. Senate had passed a bipartisan infrastructure bill of $550 billion in addition to the previously approved funds of $450 billion for five years.Total spending may go up to $1.2 trillion if the plan is extended to eight years. Infrastructure projects such as roads, bridges, passenger rails, airports, drinking water and waste-water systems, high-speed Internet, and climate-related infrastructure should benefit.Our Top PicksWe have narrowed down our search to five large-cap (market capital > $10 billion) stocks have given double-digit returns in the past three months with more upside potential for the rest of 2021. These stocks have seen solid earnings estimation revisions in the last 30 days. Finally, each of our picks carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The chart below shows the price performance of our five picks in the past three months.Image Source: Zacks Investment ResearchRegeneron Pharmaceuticals Inc. REGN is benefiting from strong demand for Eylea and Dupixent. Continued growth in Eylea and Dupixent through further penetration in existing indications and a promising late-stage pipeline aid its prospects. The approval of Libtayo in the lucrative indication of NSCLC and BCC should also boost sales.This Zacks Rank #1 company has an expected earnings growth rate of 90% for the current year. The Zacks Consensus Estimate for current-year earnings improved 1.5% over the last 7 days. The stock price has jumped 17.5% in the past three months.Continental Resources Inc. CLR explores, develops and produces crude oil and natural gas primarily in the north, south, and east regions of the United States. It sells crude oil and natural gas production to energy marketing companies, crude oil refining companies, and natural gas gathering and processing companies. Continental Resources has a premier position in the Bakken area.The company has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings improved 5.3% over the last 30 days. The stock price has climbed 12.5% in the past three months.O'Reilly Automotive Inc. ORLY operates as a retailer of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. The specialty retailer of automotive aftermarket parts is poised to benefit from store openings and distribution centers in profitable regions.The company has a competitive edge due to a dual market strategy by serving the Do-it-Yourself and Do-it-for-Me customers. A customer-centric business model and the growing demand for high-quality auto parts are likely to boost O’Reilly’s prospects.The company has an expected earnings growth rate of 17.5% for the current year. The Zacks Consensus Estimate for its current-year earnings improved 0.1% over the last 30 days. The stock price has appreciated 12.4% in the past three months.Darling Ingredients Inc. DAR develops, produces, and sells natural ingredients from edible and inedible bio-nutrients. It operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients.The company has an expected earnings growth rate of 90.3% for the current year. The Zacks Consensus Estimate for the current year improved 3% over the last 30 days. The stock price has surged 12.3% in the past three months.The Mosaic Co. MOS produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. It operates through three segments: Phosphates, Potash, and Mosaic Fertilizantes.Demand for phosphate and potash in North America remains strong in 2021. Strong grower economics and crop commodity prices are driving fertilizer demand globally. The company should also gain from higher prices. The acquisition of Vale Fertilizantes is also expected to deliver significant synergies. Mosaic is also expected to benefit from its cost-reduction initiatives.The company has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for its current-year earnings improved 3.8% over the last 30 days. The stock price has advanced 12.1% in the past three months. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Regeneron Pharmaceuticals, Inc. (REGN): Free Stock Analysis Report OReilly Automotive, Inc. (ORLY): Free Stock Analysis Report Darling Ingredients Inc. (DAR): Free Stock Analysis Report The Mosaic Company (MOS): Free Stock Analysis Report Continental Resources, Inc. (CLR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 24th, 2021

Airline Stock Roundup: RYAAY"s Bullish View for Traffic, AAL, JBLU in Focus

Ryanair (RYAAY) expects fiscal 2022 traffic in the range of 90-100 million compared with 27.5 million in fiscal 2021. Gol Linhas (GOL) boosts its liquidity position. In the past week, Ryanair Holdings RYAAY raised its 5-year traffic growth forecast from 33% to 50%. The European carrier now expects traffic to grow to more than 225 million guests per year by March 2026 compared with 200 million predicted earlier.The Latin American carrier Gol Linhas GOL was also in the news in the past week when it extended its agreement with American Airlines AAL. American Airlines will acquire a 5.2% stake in Gol Linhas. However, American Airlines’ alliance with JetBlue Airways JBLU seems to have run into rough weather with the Justice Department and officials in six states reportedly filing a lawsuit against the alliance on antitrust grounds.Recap of the Past Week’s Most Important Stories1.Ryanair, currently carrying a Zacks Rank #3 (Hold), expects fiscal 2022 traffic in the range of 90-100 million compared with 27.5 million guests in fiscal 2021.The carrier aims to take delivery of 210 Boeing 737 aircraft over the next five years. The company expects these planes, which would lower costs and reduce emissions, to accelerate its post-COVID growth.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.2. Under this extended deal, Gol Linhas will receive an equity investment of $200 million (R$1.05 billion) from American Airlines. This additional liquidity is expected to strengthen Gol Linhas’ balance sheet. The new agreement expands beyond the terms of the existing codeshare partnership (which has been in place since February 2020) between the carriers. As a result of the code sharing pact, passengers of either carrier can purchase tickets of the connecting flights using one reservation. American Airlines, through this exclusive codeshare agreement, expects to increase commercial cooperation with the Brazilian carrier to accelerate growth and create a more seamless experience for customers.3. According to an update from the White House, travel restrictions on air passengers from countries like China, India, Britain and other European nations into the United States will be eased from November this year. Per White House COVID-19 coordinator Jeff Zients, foreign nationals will have to be fully vaccinated when they fly to the United States in November. They will have to demonstrate proof of vaccination before boarding. Further, the travelers have to test negative for the coronavirus, which they have to undergo within three days of their flight. Zients ruled out the need to quarantine for the fully-vaccinated passengers.The development is a major positive, especially for the Delta-variant-hit U.S. airlines. Many of the carriers expect third-quarter 2021 results to be dented by the spread of the Delta strain in the United States. Their bearish third-quarter views were discussed in detail in the previous week’s write-up. 4. The Justice Department believes that the alliance between American Airlines and JetBlue will reduce competition, leading to higher fares. Per Attorney General Merrick Garland, “In an industry where just four airlines control more than 80% of domestic air travel, American Airlines' alliance with JetBlue is, in fact, an unprecedented manoeuvre to further consolidate the industry."American and JetBlue vowed to fight the lawsuit and continue with their alliance unless directed otherwise by a court. The partnership was announced last year. JetBlue and American Airlines already started coordinating on flights in the Northeast. Garland is, however, of the view that “It would result in higher fares, fewer choices, and lower quality service if allowed to continue.”5. United Airlines UAL is expanding its footprint in Africa with a new service between Washington, D.C. and Lagos, Nigeria, set to be launched on Nov 29, subject to government approval. The airline will operate three weekly flights between the U.S. capital and the popular African destination. This is the company’s first ever nonstop service between Washington, D.C. and Nigeria.Price PerformanceThe following table shows the price movement of the major airline players over the past week and during the past six months.Image Source: Zacks Investment ResearchThe table above shows that the airline stocks have traded in the green over the past week, aided by the announcement from the White House pertaining to the easing of international travel curbs. The NYSE ARCA Airline Index has increased 3.5% over the past week to $94.23. Over the course of six months, the sector tracker has decreased 6.6%.What's Next in the Airline Space?Investors will await more updates on the American Airlines-JetBlue partnership in the coming days. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report JetBlue Airways Corporation (JBLU): Free Stock Analysis Report Gol Linhas Aereas Inteligentes S.A. (GOL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 23rd, 2021

Florida seeks to stop merger between two airlines

Florida Attorney General Ashley Moody has joined the U.S. Department of Justice and other states in an antitrust lawsuit that seeks to block a partnership between American Airlines and JetBlue. The 42-page lawsuit, filed Tuesday in federal court in Massachusetts, targets a so-called “Northeast Alliance” in which the airlines would share revenues and coordinate flights at airports in Boston, New York and Newark, N.J. The lawsuit contends the partnership will eliminate competition between the….....»»

Category: topSource: bizjournalsSep 23rd, 2021

4 Dirt Cheap Stocks to Bet on Amid September Market Meltdown

Amid the decline of the benchmarks, investors should bet on discounted stocks like SNDR, NOG, GIII, and ANF for future growth. The number of new COVID-19 cases and the market both displayed a rising trend in the last three months. The job market gained consistently in this period, reflecting a stable economy. In August, particularly, unemployment rates were lower in 15 states and the District of Columbia and stable in 35 states. Nonfarm payroll employment increased in 11 states, decreased in three states, and was unchanged in 36 states and the District — per the data by the U.S. Bureau of Labour Statistics.While many of the market watchers assured us about this sustained bull run despite a massive spread of the more lethal Delta strain, others apprehended a bloodbath round the corner. Eventually, over the past two trading days, the market is deep into the bear territory, displaying the worst run since May.Yesterday, the stock market crashed with benchmarks like the S&P 500 and Dow Jones both down nearly 2%. NASDAQ Composite Index, which gained support last week from the technology bigwigs, declined 2.2% yesterday, shedding more than 300 points.Two Primary Pull-Down FactorsThe intensifying China property market crisis is expected to have played a major role behind the dragging down of the benchmarks. Alliance Bernstein’s Co-Head of Asia Pacific Fixed Income Jenny Zeng recently warned that the highly distressed real estate developer of China, Evergrande (tagged as the world’s most indebted developer with $300 billion of debt at present) is on the edge of default. As quoted by CNBC, she also stated that this collapse will have a ‘domino effect’ on China’s property sector. In the overseas dollar market, these distressed developers combinedly hold a meaningful portion. Consequently, market watchers are worried that the collapse, if it occurs, will have a spillover effect worldwide.Another point that is troubling the investors is the apprehension that amid the job market growth, the COVID-19 induced monetary stimulus might get significantly tapered. During the economic crisis, several stimulus measures were launched mainly in the form of rate cuts and bond purchases.  There are concerns that the Fed and other central banks, which are going to have a two-day meeting starting today, might start winding down stimulus.Market to Revive with OSHA RuleThanks to the ongoing market selloffs, a number of growth stocks have once again moved into the undervalued territory. However, the ongoing extensive rollout of vaccines across the nation, particularly, the latest launch of President Biden’s COVID-19 action plan called “Path Out of the Pandemic” is claimed to boost the financial market rebound.As per the six-pronged, comprehensive national strategy, the Department of Labor’s Occupational Safety and Health Administration (OSHA) will develop a rule that will require all employers with 100 or more employees to ensure that their workforce is fully vaccinated. Any worker who remains unvaccinated will be required to produce a negative test result on at least a weekly basis before coming to work. The OSHA will issue an Emergency Temporary Standard (ETS) to implement this requirement.Once the OSHA rule is implemented, the COVID-19 fear factor is likely to ease further. Market watchers believe that steep rebounds are once again in the cards for the currently beaten-down stocks.Value Investing: The Ideal Strategy NowGiven the grim U.S. stock market scenario, investors may choose some fundamentally strong stocks,which have been currently pushed into the value territory because of the September market meltdown. These beaten-down stocks are currently available at dirt-cheap prices.It has been observed that growth stocks outshine value stocks during economic downturns. However, when the economy picks up pace, post the pandemic-led economic mayhem, value stocks are expected to outperform the market.To narrow down the list, we have selected stocks with a Value Style Score of A or B. Our research shows that stocks with a Value Score of A or B, when combined with a Zacks Rank #1 (Strong Buy) or 2 (Buy), offer the best upside potential. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Listed below are four companies that investors can consider during these trying times.Schneider National SNDR: This Zacks Rank #1 stock with a Value Score of A is a leading transportation and logistics services company. The company is currently being aided by strong performances of the Intermodal and Logistics units. The Intermodal segment is benefiting from yield management and increased volumes, while the Logistics unit is thriving on the back of favorable constructive market conditions and other factors. The stock is currently priced at $22.30. In 2021, the company’s earnings and sales are expected to grow 56.8% and 8.5% respectively.Schneider National, Inc. Price Schneider National, Inc. price | Schneider National, Inc. QuoteNorthern Oil and Gas NOG: The company’s core operations are focused on three leading basins of the United States — the Williston, Permian,and the Appalachian. The company employs a unique non-operating business model, which helps it to keep costs down and increase free cash flow. Prioritizing returns to investors, Northern Oil and Gas recently initiated a 3 cents per share quarterly base dividend, with the first payment to be made in the third quarter.This Zacks Rank #1 stock with a Value Score of A is currently priced at $19 a share. In 2021, the company’s earnings and sales are expected to grow 70.9% and 209.7% respectively.Northern Oil and Gas, Inc. Price Northern Oil and Gas, Inc. price | Northern Oil and Gas, Inc. QuoteG-III Apparel, Ltd. GIII: Solid gains from the company’s assortments and digital business are currently driving results. Although the retail business has been sluggish, management has completed the division’s restructuring and the new model is poised to attain profitability. G-III Apparel’s digital business also continues to exhibit strength.This stock too sports a Zacks Rank #1 and has a Value Score of A. It is currently priced at $28.45 a share. In 2021, the company’s earnings and sales are expected to grow 341.6% and 30.2%, respectively.GIII Apparel Group, LTD. Price GIII Apparel Group, LTD. price | GIII Apparel Group, LTD. QuoteAbercrombie & Fitch Company ANF: The company operates as a specialty retailer of premium, high-quality casual apparel for men, women, and kids through a network of approximately 850 stores across North America, Europe, Asia, and the Middle East. Abercrombie is making significant progress in expanding digital and omni-channel capabilities to better engage with consumers. Despite the reopening of stores, the company’s strong digital momentum continued in the last-reported second-quarter 2021.This stock too sports a Zacks Rank #1 and has a Value Score A. It is currently priced at $28.45 a share.In 2021, the company’s earnings and sales are expected to grow 341.6% and 30.2%, respectively.Abercrombie & Fitch Company Price Abercrombie & Fitch Company price | Abercrombie & Fitch Company Quote 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report GIII Apparel Group, LTD. (GIII): Free Stock Analysis Report Northern Oil and Gas, Inc. (NOG): Free Stock Analysis Report Schneider National, Inc. (SNDR): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 21st, 2021

With Washington on edge, most airlines ban guns in luggage on DC flights

Airlines and airports say they are stepping up security before next week’s presidential inauguration, with Delta, United, American, Southwest and Alaska prohibiting passengers flying to the Washington area from putting guns .....»»

Category: topSource: chicagotribuneJan 15th, 2021

With Washington on edge, United, Delta, Alaska airlines ban guns in luggage on DC flights

Airlines and airports say they are stepping up security before next week’s presidential inauguration, with Delta, United and Alaska saying they will prohibit passengers flying to the Washington area from puttin.....»»

Category: topSource: chicagotribuneJan 14th, 2021

Majority of EU states back suspension of air travel refunds, France says

Germany, Italy and Spain have joined a call by 12 European Union governments for the EU's executive body to suspend rules forcing crisis-hit airlines to offer full cash refunds for cancelled flights, France said in a statement on Saturday......»»

Category: topSource: reutersMay 2nd, 2020

JetBlue gets access to Europe in Norwegian Airlines deal

JetBlue currently doesn't have transatlantic flights, but Norwegian offers more than 20 nonstop routes to Europe from three airports: JFK, Boston and Fort Lauderdale......»»

Category: topSource: bizjournalsOct 17th, 2019

United, Frontier launching new flights from Denver to 3 states

Denverites will have the opportunity to board new nonstop flights later this year and early next year to South Texas, California Wine Country and the closest city to the Grand Canyon. Frontier Airlines announced Tuesday that it will launch seasonal .....»»

Category: topSource: bizjournalsAug 28th, 2018

TAP Air Portugal: Chicago, Washington to be next U.S. cities

TAP’s latest push into the USA will take it to Chicago O'Hare and Washington. Both airports get nonstop flights to Lisbon on Airbus A330-900neo jets......»»

Category: topSource: usatodayNov 29th, 2018

It"s hard to be bearish on the stock market as risk-happy Millennials inherit $2 trillion per year, Fundstrat"s Tom Lee says

Lee identified four factors that show why investors ought to take a long-term bullish view on stocks - perhaps even through 2038. Cindy Ord/Getty Images Trillions of dollars flowing to risk-tolerant Millennials are set to boost stock market fundamentals for years, says Fundstrat's Tom Lee. Lee identified four factors that show the scale of the generational wealth transfer underway. "I do believe that both crypto and the equity markets are going to be powered by millennials," ARK Invest's Cathie Wood said last week - having previously cited Lee's work as evidence for this theory. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Trillions of dollars flowing to risk-tolerant Millennials are set to boost stock market fundamentals for years, making it hard to be too bearish, Fundstrat's Tom Lee wrote in a note on Friday.Building on past research, Lee pointed to four factors that show the scale of the generational wealth transfer underway:$2 trillion of wealth flows from Baby Boomers to Millennials per year through inheritance, according to Fundstrat estimatesOver the next 20 years, Millennials will inherit $76 trillion from previous generationsMillennials tend to prefer higher-risk assets like stocks and cryptoBaby Boomers are becoming a smaller relative share of the pool of wealth, meaning Millennial asset preferences will fuel a structural shiftLee argued that the logical conclusion of these data points is that investors ought to take a long-term bullish view on stocks."Can one be structurally bearish on stocks if this is the case?" he said.Lee has previously offered similar arguments for permanent bullishness, pointing to other structural factors like easy monetary policy and abundant cash on the sidelines."Bull market until 2038? This is a possible base case. ... If demographics are destiny, US stocks will do very well," Lee wrote in June, pointing out that every stock market peak since 1900 has coincided with a generation's peak.It is a theory shared by ARK Invest's Cathie Wood, who has cited Lee's research as evidence."I do believe that both crypto and the equity markets are going to be powered by millennials," Wood said at a conference last week. "They're really excited about the new technologies that are evolving today - they're really at the leading edge of them and understand them and are comfortable with them."In his Friday note, Lee discussed new Federal Reserve data that showed US household wealth surging to $142 trillion in the second quarter. With just $46 trillion of that invested in US stocks, some $100 trillion could in theory still be allocated to equities, underscoring how much room stocks have left to run.He also explained why wealth inequality in America is not as severe as some of the topline numbers suggest - noting that while the top 20 richest Americans were "ridiculously wealthy," they only composed 1.2% of total US wealth."This means America has a lot of wealth, flat out, and there are just a lot of mega-rich people," said Lee.Read the original article on Business Insider.....»»

Category: worldSource: nyt18 hr. 15 min. ago

Welcome To The Central Bank Hotel, Once Inside You Can Never Leave

Welcome To The Central Bank Hotel, Once Inside You Can Never Leave Authored by Mike Shedlock via MishTalk.com, Central bank digital currencies are on the way. The German Central Bank just embraced a digital euro. Let's discuss the risks... Fintech and Global Payments  Jens Weidmann, president of the Bundesbank, Germany's central bank gave the opening speech at the digital conference “Fintech and the global payments landscape – exploring new horizons” Exploring a Digital Euro The title of Weidmann speech was Exploring a Digital Euro.  Emphasis mine with my thoughts in braces [ ] Paper money, for instance, was first introduced in China about a thousand years ago. This innovation eventually transformed the payments system. Today, digitalisation is on the cusp of overhauling payments. Central banks have to work out how to respond to this challenge. One possibility is the issuing of central bank digital currencies (CBDCs). According to a survey by the Bank for International Settlements (BIS), the share of central banks conducting work on CBDC for general or wholesale use rose to 86% last year. Many of them have made significant progress. Two months ago, the Eurosystem launched a project to investigate key questions regarding the design of a CBDC for the euro area. The aim of the investigation is to prepare us for the potential launch of a digital euro. Experiments have already shown that, in principle, a digital euro is feasible using existing technologies. As my ECB colleague Fabio Panetta has stressed, a digital euro would have “no liquidity risk, no credit risk, no market risk,” in this way resembling cash. [No Risk? Really]  The protection of privacy would thus be a key priority in terms of maintaining people’s trust. European data protection rules would have to be complied with. Nevertheless, a digital euro would not be as anonymous as cash. In order to prevent illicit activities such as money laundering or terrorist financing, legitimate authorities would have to be able to trace transactions in individual, justified cases. [Every Case] But designing CBDC involves curbing its risks. In order to prevent excessive withdrawals of bank deposits, it has been suggested that a cap be placed on the amount of digital euro that each individual can hold. Or that digital euro holdings in excess of a certain limit could be rendered unattractive by applying a penalty interest rate. [No Risk? I thought you said there was no risk.] If a digital euro were accessible for non-residents, this could impact on capital flows and euro exchange rates. What this calls for is international and multilateral collaboration. [Wait a second, is this another risk?] Self-reinforcing loops and “lock-in” effects may tie users to one platform and exclude competitors. Some observers have been reminded of “Hotel California”, the famous song by the American rock band “The Eagles”: it’s such a lovely place, with plenty of room; but once inside you can never leave. [Hotel Central Bank: Once inside you can never leave.] The Eurosystem has no commercial interest in user data or behaviour. A digital euro could therefore help to safeguard what has always been the essence of money: trust. [Ah yes, trust that interest rates won't go even more negative, money won't expire, and withdrawals won't be capped]. Central banks need to be at the cutting edge of technology. Otherwise, they cannot provide the backbone of payment systems and offer safe and trusted money for the digital age. This has prompted all major central banks to start exploring issuance of CBDC. However, our success as a money creator will depend not so much on speed, but on the trust of those who are supposed to use the money. Europe Moving Ahead It appears Europe is moving ahead faster than the Fed.  The risks are obvious. Expiring Money Increasingly Negative Interest Rates Withdrawals Capped Withdrawals Taxed  Gifts Taxed And once inside you can never leave.  Livin' it up at the Hotel Fedifornia has a nice ring to it. ECBifornia isn't as catchy.  * * * Like these reports? If so, please Subscribe to MishTalk Email Alerts. Tyler Durden Sat, 09/25/2021 - 13:00.....»»

Category: blogSource: zerohedgeSep 25th, 2021

The Island of Death: Visiting the gulag where my grandfather was tortured, but didn"t officially exist

My grandfather was held at Bulgaria's most notorious gulag. This summer, I saw it for the first time. A Belene survivor crosses the bridge across the Danube that connects the town of Belene and Persin island in 2015. Dimitar Dilkoff/AFP via Getty Images) This summer, Tana Ganeva traveled to Belene, Bulgaria's most notorious prison camp, where her grandfather was held in the 1950s. Bulgaria has effectively buried the history of its Communist-era gulags, where thousands were starved, tortured, and killed. Ganeva's grandfather attempted to escape Bulgaria four times, before making it to California. See more stories on Insider's business page. The island of Persin is a bird-watcher's paradise. Set on the Danube River, which divides Bulgaria and Romania, it's a nature park covered in wetlands and home to hundreds of rare bird species: the spoonbill, the pygmy cormorant, the corncrake, as well as herons, eagles, storks, and pelicans. Amid the natural beauty, it's jarring to consider that this was the location of a concentration camp where thousands of Bulgarian political prisoners were brutalized and killed from 1949 to 1953 - and in some cases for years after that. Though it's officially known as Belene after the quiet Bulgarian village that sits 750 feet away on the mainland, old-timers here call it by another name: the Island of Death.My stepgrandfather, Georgi Tutunjiev, was sent here at age 24 and spent four years and three months interred at Belene after someone (he suspected his ex-wife) told the authorities of his plan to escape the country. In his notebooks - he had planned to write a memoir about Belene but never did before he died in 2011 at 87 - he remembered the place as "brutal facilities for re-education," where he'd endured "indescribable physical and psychological abuse." He finally managed to escape Bulgaria in 1966 and settle with my grandma in California. In 1989, my parents and I left Bulgaria and joined my grandparents in California, thanks to the family-reunification policy. While many survivors of trauma shut down, my grandfather never stopped talking about the gulag. He seemed to have an unending loop of stories about Belene. For my immediate family, it could be exhausting, and we were alarmed to discover his extensive gun collection, which my grandmother gamely dismissed as a coping mechanism. But guests who came to the house were often riveted by his dark tales, which he mixed with his sense of humor. "Jeko! The Communistie shot you!" he'd shout at his terrier mix, and the dog would sprawl on his back, playing dead. An aerial view of Persin island. The gulag was known as Belene, after the nearby town. Tsvetomir Nikolaev I've come to the town of Belene on a brutally hot day in August for a tour of the Island of Death. I meet Nedyalka Toncheva, who works for the Belene Island Foundation, a nonprofit that organizes tours of the island, close to the bank of the Danube.We cross a rickety water bridge on foot and then jump aboard a Jeep driven by a 24-year-old Belene native named Peter. Toncheva, who is 35, is passionate and knowledgeable about the island's flora and fauna. Every few minutes, she tells Peter to stop the car to point out a roosting stork or a water eagle. She talks about her plans to make Persin a tourist destination comparable to Borovets, a ski resort with luxury hotels in the Rila mountains; or Koprivchitsa, a living museum honoring the Bulgarian rebels who mounted an uprising in 1876 against the Ottoman Empire.In the three decades since the fall of communism, Bulgaria has effectively buried the history of its many gulags, which operated mostly in the 1950s during the early, and most violent, days of Communist rule in the country. In Belene itself, many lower-level guards came from the village and a former mayor was also the gulag's first superintendent. It's not surprising that the village doesn't advertise its history.After 1989, survivors who had been forced to sign documents promising to never talk about the camps started speaking out. For a brief time, they became the subjects of documentaries and newspaper profiles. But soon, the consensus was that it was better to move on. An interior minister tasked with investigating the camps instead secretly ordered a purge of thousands of pages of documents - 40% of the government record. While Bulgaria's defeat of the Ottomans is central to the national identity, and much is made of the fact that Bulgaria saved its Jews during the Holocaust, the memory of the Communist era is more fraught. Georgi Tutunjiev, the author's grandfather, in around 1977. Tana Ganeva Peculiar for a tour, most of our stops lead us to what's not left of the camp. The shacks where prisoners slept have been razed - there's no trace of them.At the entrance, in what is now an open field, an inscription says, "To be human is to have dignity." From inside the camp - what would have been visible to the internees - the engraving says, "If the enemy doesn't surrender, he is destroyed." But no one I've talked to knows whether it's the original or has been recreated. There are a few abandoned, falling-apart buildings, but those were built in 1959, six years after the camp's official (but not real) closing, when it was converted into a prison, in part to kill rumors that it had operated as a secret gulag. Todor Zhivkov, the Communist premier who took power in 1954 and stayed on until 1989, reopened it in the 1980s to detain Muslims who refused to take on Slavic names in place of their own - a disastrous bid to assimilate them. I ask Toncheva whether there's a list of everyone who was held in the camp. I'm thinking of my grandfather and wondering whether there's any documentation. She tells me everyone who comes here for the camp asks the same question."There's no way to know, no list," Toncheva says, apologetic. "There's almost no proof the camp even existed."'Perfectly calculated by Satan himself'The first contingent of 300 men arrived at the Belene camp in the summer of 1949, five years after the 1944 Communist coup. My grandfather, then 24, arrived that first winter. A camp for women was founded on an adjacent island soon after.It was modeled after Josef Stalin's gulags in Siberia. Most of the prisoners had been dragged from their homes by the military police and sent here without trial. (Estimates vary, but 20,000 to 40,000 people were thought to be murdered by the Bulgarian Communist Party.) Even Stalin eventually warned them to scale down the killing of prominent oppositional figures or risk creating martyrs.The first wave of prisoners had to hack through the unpopulated island and build small shacks that were so crowded the prisoners didn't have room to lie down. In his history of the camp, Borislav Skotchev wrote that the island was dotted with towers manned by guards with machine guns. A survivor of Belene during a commemoration ceremony in 2015. Dimitar Dilkoff/AFP via Getty Images) The men held here included the former leader of the Social Democrats, Orthodox priests (many in their 70s), and the mayor of Bulgaria's capital, Sofia. Tsveti Ivanov, the editor of the newspaper Svoboden Narod, or Free People, was sent to Belene after serving 10 months in prison. He was beaten so brutally that he got tetanus from his wounds and died in the compound. Much of what we know about the place comes from survivors' memoirs. They were fed a thin soup, sometimes with a handful of beans thrown in. Their bread ration - moldy or stale when it made its way to them - was small, and could be withheld by the guards as punishment. Sometimes they got tea. My grandfather told me that, in the winter, both the soup and the tea were given to them already frozen.When Toncheva takes us on a brief walk to go look at storks, the ground gives off wet heat, and brambles and thorns claw at us, as if the island is alive and doesn't want us there. I think of the people who had to work days and nights, in sweltering summers, devoured by mosquitoes. It's unbelievable that anyone survived.An internal CIA document described the grim situation of starving prisoners. "A frequent sight is that of a prisoner eating raw green leaves and roots," it said. "To be caught doing this, however, would result in 10 days in detention in a dungeon for such an offense." The lucky ones got packages from family, though those were often taken by guards. Many had little choice but to choke down the rotting carcasses of wild cats, killed and skinned for their fur by the villagers, or pick through horse dung for undigested barley. According to a CIA information report from March 13, 1952, during one brutal winter 30 prisoners died of cold or starvation."It was an Inferno circle, perfectly calculated by Satan himself," Liliana Pirinchiva, one of the female survivors of Belene, wrote in her memoir. "We were reduced to skeletons." A group of Bulgarian anarchists. Tsvetana Dzhermanova Then there were the guards, who brought an especially sadistic approach to their work. Some would chase packs of prisoners on horseback, letting their rifles off "as if we were a flock of sheep," wrote Stefan Botchev, a survivor. When he got a severe case of scabies, the mites burrowing into his skin, he was locked up in a shed alone because the guards didn't want him to infect the cows. He recalled seeing a beating so severe that a prisoner's spine was broken, turning him into a "reptile crawling on the ground."Kouni Genchev Kounev, the chairman of the Bulgarian Youth Agrarian Union who also survived Belene, recalled one especially brutal punishment, in which the guards would pull back a prisoner's head and strike him in the trachea. They called it the "sword stroke."Years later, Krum Horozov, a survivor, would draw water colors of the camp from memory - it's virtually the only visual documentation that exists. In 2011, six years before his death, Horozov wrote: "And when we die, which will be soon, who will remember what happened on that island in the 1950s, and will they know that people were sent there without a trial and sentence?"Lilia Topouzova, a historian in Toronto who writes about the history and the memory of the camps, recalls meeting Horozov at an academic conference; he was trying to give away copies of his drawings of Belene to university students, but they avoided him as if he were a pesky street vendor.The CricketAt 93, Tsvetana Dzhermanova is the last known survivor of the women's camp, which was known as Shturets, or Cricket. We're sitting outside her home in the mountain village of Leskovets, and she's talking so fast I wonder how she manages to breathe.She smiles and laughs a lot, and she reminds me of my grandfather, who also spoke with the speed of a motorboat, frantic to tell his story."I promised to outlive the Communistie, and here I am!" she boasts. (My grandfather also took an understandable delight at outliving the Communistie. "I survived the Communistie, but I won't survive old age," he once told me, when I was 25 and had no idea about either.) Tsvetana Dzhermanova. Tsvetana Dzhermanova Dzhermanova was an anarchist in the 1950s, and still is today. "That's my personal ideology," she says. "I'm not sure humans are evolved enough to make either anarchism or socialism work the way they should, but for me, anarchism is it. Because I value freedom, family, friendship, and love."When she first heard about anarchism as a teenager, she asked her mother what it meant. "Anarchists are the people all regimes persecute," her mother had replied. That sold her. Dzhermanova joined a village group. She had no designs on power (detesting it) and mostly spent her time reading anarchist literature and working on a community vegetable garden. She estimates that 800 anarchists from the town were swept up in a night and sent to the gulags."We sang songs while we worked," Dzhermanova tells me. "That helped." Last spring the sprightly nonagenarian made the three-hour trip to Belene to speak with a group of students about the camps. "They had no idea about this. They were really surprised," she says. "No one had ever talked to them about it, and they don't learn about it in school."'Out of Fashion'Toncheva and our driver, Peter, walk through a falling-down building that was constructed in 1959, in part to hide evidence of the camp. It's covered in bird shit. Plant life is taking over its rotted remnants, and old decayed furniture has been abandoned here and there. We talk about how nobody talks about the camp.Peter tells us that despite having spent almost his entire life roughly 750 feet from Persin, in Belene village, he learned about the camp only two weeks earlier, when Toncheva hired him as a driver for her tours."To think they only gave them bread and water, and made them work so hard," he says, shaking his head in disbelief. A crumbling building built on the site of Belene. Stoyan Nenov/Reuters As far as Toncheva knows, no one from her family was held here, but she remembers asking her grandmother about the island when she was a teenager and again after reading the memoirs of survivors. "Shhh. Don't talk so much about this," her grandmother would say. "You don't want to bring trouble."There are rumors of a mass grave near Persin. Mikhail Mikailev, the head of the Belene Island Foundation, wants to find it. But money for the equipment required to find and dig up the remains eludes this two-person staff.Unlike Peter and Toncheva, my parents, who were born in the mid-1950s and grew up in Bulgaria, tell me that in the 1970s and 1980s, all their friends in Sofia knew about Belene. "We all heard the stories," my mother says.But for the authorities, maintaining official denial was worth murder.In 1969, the celebrated Bulgarian writer Georgi Markov defected to the West, where he wrote about the regime's abuses. In one essay, Markov described traveling on a boat down the Danube and approaching Belene. "I remembered how, feet dangling over the edge of the boat, a youth with a guitar once sang a strange song: Danube, white river, how quiet you flow / Danube, black river, what anguish you know." A view of Persin island. Tsvetomir Nikolaev On a rainy afternoon in London, a man jabbed the tip of his umbrella into Markov's leg. Later, Markov noticed what looked like a small bug bite but didn't think much of it. A few days later he was dead, most likely poisoned by the Bulgarian secret service.Before my visit to Belene, I met Topouzova, the historian, over Zoom to talk about the erasure of the camps in Bulgaria's consciousness. While former generals wrote best-sellers, the owner of a prominent bookstore dismissed any interest in survivors' memoirs - they were "out of fashion," he had told her.It was gaslighting in its purest form. And it showed how we're all so prone to the "just world" fallacy, a phenomenon where if something is too horribly unjust, the human brain just kind of moves on. It's not all that hard to bury inconvenient truths."It turned out that aging men and women with fragmented memories of bygone violence did not make for the faces of change," Topouzova wrote in a recent paper titled "On Silence and History" for the American Historical Association. "The interned were rendered nonexistent - their experiences and memories fated to vanish along with the files." A pile of stonesNations define themselves by their monuments. The memorial in downtown Manhattan demands that we never forget the victims of 9/11. In the past few years, American activists have torn Confederate statues from their perches, signaling a break with the passive acceptance of the history of slavery. Yet grappling with unpleasant history isn't easy. It was only in 2018 when a museum honoring the Black victims of lynching opened in Alabama. The 1619 Project, which posits that the history of the United States is rooted in slavery, has spurred a massive backlash. School districts have banned children's books about Rosa Parks. Vaunted democracies are as likely to try to bury inconvenient truths as former communist states. At an exhibition in Sofia in 2009, Belene survivors look at images of the gulag's victims. Stoyan Nenov/Reuters In Bulgaria, there are monuments everywhere. From the smallest village to Sofia, the heroes of Bulgaria's uprising against the Ottoman Empire are eternalized in stone. In Plovdiv, a giant sculpture overlooks Bulgaria's second-largest city that honors "Alyosha," an everyman Soviet soldier who helped "liberate" Bulgaria in the 1940s - even though many Bulgarians see that period as Soviet imperialism, much like the Ottoman Empire's 500 years of occupation.The victims of Belene and the other camps have no such honor. The Belene foundation does the best it can. They helped organize an art exhibit, where Korozov's pencil drawings were tacked onto the walls of the decaying structures that had been erected to mask evidence of the gulag. A man places photos of famous victims of Soviet policy in front of the Monument to the Soviet Army in Sofia, Bulgaria in 2014. Hristo Vladev/Pacific Press/LightRocket via Getty Images There is one modest monument on the island. It's an abstract stone structure, and you'd have no idea what it was if you didn't already know the history. The original idea was to build a monument that listed the names of all the known internees, something like the Vietnam wall on the Mall in Washington. But the survivors and their families who pooled their resources to build it ran out of money, and no one, including the Bulgarian government, stepped in to help. (The survivors also hoped to open a museum and to recreate the shacks where they were held, but that hasn't happened either.)My grandfather's escape Dzhermanova, the 93-year-old anarchist - and eternal optimist, apparently - has hope that younger people will dig up the buried history.As for my grandfather, his ex-wife (or whoever it was who betrayed him to the authorities) was right that he wanted to escape Bulgaria.After his release from Belene in 1953, that resolve was so much stronger. "After 4 years and three months in the Island of Death, I became determined to go to my real home: America," he explained in his notebooks. The author with her grandfather and grandmother, Tsvetana Tutunjieva. Tana Ganeva As he detailed it, it would take four harrowing attempts. Soon after his release from Belene, he managed to make it into Yugoslavia during a "sabor" - a temporary loosening of borders so family and friends in the two countries could see each other. But he got caught and was thrown into a Yugoslavian jail.From there, he organized an inmate breakout after bribing the guard dog, Jeko, with his dinner. But he and the other prisoners were caught in the woods, and the Yugoslavian authorities gave them up to the Bulgarian authorities in exchange for 10 cows. "They weren't even very good cows - scrawny," he wrote.Several years later, he tried to cross Bulgaria's mountainous border into Greece, but he was caught once again.Finally, he made it into Austria and then Germany by clinging to the underside of a freight train. And then on to California, where he gave his new dog a familiar name: Jeko.Tana Ganeva writes about policing, prisons and criminal justice. She's currently working on a book about escapees from the Soviet bloc. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 25th, 2021

While world leaders are at the UN talking climate change, their private jets are often forced to fly and park hundreds of miles away

An obscure rule forces aircraft ferrying world leaders to the UN to fly far away to find parking during the UN General Assembly. Boris Johnson speaking at the United Nations General Assembly EDUARDO MUNOZ/POOL/AFP/Getty World leaders from across the globe flew into New York City to attend the United Nations General Assembly. Their aircraft, however, weren't allowed to stay at New York City's airports due to a long-standing rule. Boris Johnson took Amtrak's Acela from New York to Washington, DC while his plane was parked in Virginia. See more stories on Insider's business page. New York City in September is a hotspot for world leaders as the United Nations holds its annual General Assembly. Climate change is a key topic at this year's conference, with leaders including President Joe Biden announcing additional investments in climate finance for developing countries. But while leaders talk about commitments to climate change on the world stage, their government planes are burning extra jet fuel by flying empty to airports across the Northeast just to park during the event. New York's JFK International Airport is the preferred gateway to the UN for many visiting countries due to its proximity to Manhattan. A long-standing rule of the Port Authority of New York and New Jersey, however, restricts those aircraft from staying at JFK while their passengers head to the UN. Foreign military and state aircraft are barred from staying at Port Authority airports overnight due to traffic and space constraints, a spokesperson confirmed to Insider. After they've landed at a Port airport, those aircraft have two hours to depart for another airport where they'll park while in the US.Commercial airports under the Port's purview also include LaGuardia and Newark Liberty International. New York Stewart International Airport in Newburgh, New York, around 60 miles north of the UN, is a popular parking spot for foreign aircraft given its large runway and parking availability for large aircraft. Flight tracking data shows that aircraft staying in Newburgh this year included a Boeing Business Jet 747-8i of the Turkish government, Airbus A319 of the Italian government, and Boeing 787-9 Dreamliner of Biman Bangladesh Airlines, among many others. The Turkish government Boeing Business Jet 747-8i that brought President Recep Tayyip Erdoğan to New York. Metin Aktas/Anadolu Agency/Getty Aircraft will travel as far as Washington, DC, nearly 200 nautical miles south of New York, just for a parking spot. Airports closer to New York including Farmingdale Republic Airport and Long Island MacArthur Airport are favorites of countries with smaller diplomatic aircraft. But larger aircraft, such as a Boeing 747, cannot use them or other nearby airports such as New Jersey's Teterboro Airport and White Plains, New York's Westchester County Airport due to runway constraints. Foreign governments and militaries can request exemptions to the rule outside of UN week, the Port spokesperson told Insider, and an airport's general manager may grant it if traffic levels allow. Newburgh is a Port facility and exemptions are often made because of the airport's low traffic levels. But during UN week, the aviation equivalent of tipping the valet extra to "keep it nearby" is considered bribery. Marlene Mizzi, a former assistant airport deputy supervisor at JFK, pleaded guilty in 2019 to accepting "benefits" for letting aircraft stay overnight during a session of the General Assembly.Mizzi admitted to receiving " free limousine rides, meals, and gifts" in return for letting a Qatar state aircraft stay overnight in 2014, according to New York Attorney General Letitia James.How the rule causes headaches for multi-stop US visitsUK Prime Minister Boris Johnson took to America's high-speed Amtrak Acela train to visit the White House while in the US. But Johnson's plane also made the trip to the nation's capital. The UK version of Air Force One flew from New York to Washington Dulles International Airport in Virginia after dropping off Johnson on September 19. Had Johnson chose to fly between New York and Washington, his plane would have had to fly back to New York to pick him up, then fly back to Virginia to park. And after Johnson's visit, the plane would have had to fly him back to New York, only to fly back to Virginia to park for the rest of the prime minister's UN visit, and then fly back to New York for the return flight to London. Boris Johnson arriving in New York for the United Nations General Assembly. Stefan Rousseau - Pool/Getty A 2018 report from the International Council on Clean Transportation, an independent non-profit organization, found that aviation contributed to 2.4% of global carbon dioxide emissions. Even with the industry working towards a greener future, empty repositioning flights are still incredibly common for all aircraft operates. The COVID-19 pandemic gave New York skies a reprieve as the General Assembly went virtual in 2020. But despite fears of the Delta variant, this year's in-person session pressed on and foreign leaders were ready to adopt "have plane, will travel."Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 25th, 2021

Meet the entrepreneur planning to build the "McDonald"s" of plant-based burgers

Steele Smiley has 20 years of experience in the wellness industry. His latest act: tapping into the millennial and Gen Z plant-based food market. Steele Smiley, founder of fast casual restaurants Crisp & Green and Stalk & Spade. Crisp & Green Entrepreneur Steele Smiley aims to build America's first plant-based burger chain, Stalk & Spade. Along with his other fast-casual restaurant, Crisp & Green, Smiley is tapping into a healthy eating market dominated by millennials and Gen Z. He spoke with Insider about how the pandemic has shifted people's mindset toward wellness. See more stories on Insider's business page. Steele Smiley will be the first to tell you he runs his life like he's in the military.That involves 20 workouts a week, three times a day: Running in the morning, a yoga or boxing class during the day, and lifting weights at night. Since that doesn't seem to satisfy all his energy, Smiley also juggles two Minnesota-based fast-casual restaurants. In 2016, he opened Stalk & Spade, which serves up salads, grain bowls, smoothies, and free workout classes. Five years later (in the midst of the pandemic) he launched Crisp & Green with a plant-based-only menu. He's expanded both brands in the south and Midwest, bucking conventional health hubs like LA and NYC in favor of an edge in less competitive markets."We intend to become the first franchisable plant-based burger chain in the country," Smiley told Insider, billing it as the plant-based version of McDonald's.It's a bold statement, but the 43-year-old serial entrepreneur has 20 years in the fitness industry under his belt. While he declined to share revenue numbers, analytics verified by Insider showed that Crisp & Green digital orders increased from 9% of its total orders in January 2020 to more than 70% in April when the pandemic hit, where they've stayed ever since. Stalk & Spade launched in May. Stalk & Spade In 2021 alone, Crisp & Green expanded from five states to 12, with several locations in the Sun Belt, an area seeing explosive growth before and during the pandemic. Smiley said the chain is nearing 100 stores in 14 states, with new locations opening every 6.8 days. Overall, however, the restaurant scene has been struggling. Last August, before widespread vaccination, the fast casual space was down 12%, according to figures from foodservice data platform Technomic. While consumer spending in restaurants rose this year compared to last, recovery hasn't yet snapped back to pre-pandemic traffic levels. Restaurants are still contending with issues like labor shortages and shorter hours.Still, the wellness economy is worth $1.5 trillion, according to McKinsey, and Smiley is betting he can tap into that, especially since the pandemic has prompted many people to adopt a healthier lifestyle. Plant-based diets, which nearly 10 million Americans follow, are gaining traction. The market is growing, expected to exceed $74 billion by 2021."The next evolution of healthy eating is plant-based eating," Smiley said. "Within a decade, people will choose the plant-based alternatives of the traditional meat they eat today."Move over, SweetgreenSmiley had just $765 in his bank account when he kicked off his career in 2004 with his boutique studio STEELE Fitness. In 2013, he had just landed a major partnership with Under Armour when he sold his business to international wellness company Lift Brands Global. He joined the parent company as a senior executive.He launched Crisp & Green in November 2016, which he juggled while working for Lift Brands for five months before going full-time. "I would work during the day at my first big business, and at night I would put on a Crisp & Green t-shirt and work at my restaurant," Smiley said.Smiley said he'd always wanted to launch multiple businesses in multiple industries. Evolving his career from fitness to healthy eating was only a natural next step."The opportunity that I felt was staring me in the face was food," he said. "In fitness, I taught people that the hour you work out can only be so impactful. The other 23 hours of a day, you can help people understand how to make the right food choices." Crisp & Green offers free fitness classes in addition to its salad and smoothie menu. Crisp & Green Those who perhaps best understood this pre-pandemic were young, healthy women, whom Steele would often see walking through Crisp & Green's doors.His brands certainly have Gen Z and millennial written all over them. The two generations helped grow the global healthy eating and nutrition economy to $704 billion and are leading the way in plant-based eating. Millennials, dubbed "the wellness generation," are especially more health-conscious and more willing to spend on healthy food and fitness than their parents.For them, investing in green juices and $30 spin classes is a discreet status symbol, a way to convey they care about their health and have the money to do it properly.Smiley made sure Crisp & Green checked all the boxes for this demographic: healthy, digitally accessible, deliverable, and Instagrammable. "It made people say I want to live a more aspirational life," he said. A post shared by C&G • Healthy & Scratch-Made! (@crispandgreen) It's this combination that Smiley believes enabled the restaurant to gain steam during the pandemic, which in turn led to his confidence in launching another venture."I figured why stop with just one that was working?" he said. And so Stalk & Spade was born.The plant-based way of the futureAfter his pandemic success, Smiley said he saw an opportunity to prepare for a post-vaccine economic reopening by giving Americans what he thought they'd need after a health-related recession and a social recession: healthier food and an opportunity to get out of the house.But he recognized that bringing yet another concept into the increasingly saturated wellness sector - especially during a pandemic that saw a declining footprint in the fast casual industry - meant that he'd be facing a tough road. He knew he needed to look toward the future - and what he saw were plants. A post shared by STALK & SPADE (@stalkandspade) He said he and his team worked on building Stalk & Spade's plant-based menu from scratch until taste testers couldn't discern the difference between a real burger and a plant-based one.The pandemic pushed healthy eating 10 years into the future, he said. It dramatically expanded his demographic from mostly young adults to nearly everyone.When asked who his clientele is now, Smiley said with a laugh, "humans." After all, "everyone wants to live a better life."Nutrition has taken on new importance, per a McKinsey survey, as people now want food that will help them accomplish wellness goals while tasting good. Millennials and Gen Z are even more willing to invest in health and wellness post-pandemic, with 60% believing that taking care of one's health will be the pandemic's most important societal change. With a modern, minimalist design, even Stalk & Spade's interior is Instagrammable. Stalk & Spade The mental shift has sparked the rise of a high-performance lifestyle, in which people are increasingly letting wearables and apps track their health and make lifestyle choices for them. That includes Smiley himself, who monitors his sleep with wearables. The healthier life people are now turning to is the life Smiley has been living this whole time, which could prove to be the key to growing his brands.By the end of the year, he said, Crisp & Green will have 25 locations with another 60 in the pipeline. Stalk & Spade is set to open up its second Minnesota location in early 2022.Smiley believes the time is now for plant-based eating to go from a niche audience to a more mainstream one. "We fed into the trends of healthy eating," he said of the plant-based market. "It's an opportunity for an entire new genre to start."Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 25th, 2021

Extreme weather disrupted almost half of JetBlue"s flights on Thursday with cancellations continuing as the airline recovers

JetBlue Airways canceled or delayed over half of its flights yesterday, leaving passengers stranded for hours. AP/Elaine Thompson JetBlue left hundreds of passengers stranded after delaying or canceling half of its flights on Thursday. The airline said severe weather in Florida and New England caused the flight disruptions. Weather was a primary factor in delays that occurred over the summer, causing issues for American and Spirit. See more stories on Insider's business page. JetBlue Airways canceled or delayed over half of its flights yesterday, leaving passengers at some airports stranded for hours.On Thursday, JetBlue passengers complained on Twitter about hours-long flight delays and subsequent cancellations, with some saying they were stranded for up to 25 hours."The bulk of cancellations ... were the result of dangerous thunderstorms in South Florida and the Northeast last night and into this morning. This weather leads to airport closures and air traffic control programs. Whenever these weather events take place they can also create residual impacts as we work to reposition aircraft and crews," a JetBlue spokesperson told Insider.According to data from FlightAware, 50% of JetBlue flights were disrupted yesterday, with 44% being delayed and 6% being canceled. The airline had the highest ratio of flight disruptions compared to other carriers, including Southwest and American which only had 20% of flights delayed and 1% and 2% canceled, respectively.Meanwhile, Delta Air Lines, which, according to the airline, has the largest operation at New York's JFK International Airport, only had 17% of its flights delayed and 0% canceled on Thursday. Today, JetBlue has already delayed 27% and canceled 6% of its flights, compared to Delta, American, United, and Southwest that have all delayed less than 10% and canceled between 0 and 1%.Weather was the principal factor in the hundreds of flight cancellations incurred by airlines over the summer. In June, American was forced to slash 80 flights a day after extreme weather disrupted the operation. The airline also cut 1% of its schedule for July to help manage the travel boom as it battled weather and labor shortages.Meanwhile, Spirit Airlines' operation broke down after a poorly timed combination of severe weather and staffing issues, forcing it to cancel 2,000 flights as it fought to get its schedule back on track. Its slow recovery got the attention of the US Department of Transportation, which contacted the airline to "remind" them of passenger rights when their flights are canceled, reported The Points Guy. Spirit was still canceling half of its flights into its fifth day of disruptions, while JetBlue has only canceled 8% on its second day, according to FlightAware.Editor's note: An earlier headline implied JetBlue canceled half of its flights on Thursday. It has been updated.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 24th, 2021

Extreme weather caused JetBlue to cancel half of its flights on Thursday with cancellations continuing as the airline recovers

JetBlue Airways canceled or delayed over half of its flights yesterday, leaving passengers stranded for hours. meric AP/Elaine Thompson JetBlue left hundreds of passengers stranded after delaying or canceling half of its flights on Thursday. The airline said severe weather in Florida and New England caused the flight disruptions. Weather was a primary factor in delays that occurred over the summer, causing issues for American and Spirit. See more stories on Insider's business page. JetBlue Airways canceled or delayed over half of its flights yesterday, leaving passengers at some airports stranded for hours.On Thursday, JetBlue passengers complained on Twitter about hours-long flight delays and subsequent cancellations, with some saying they were stranded for up to 25 hours."The bulk of cancellations ... were the result of dangerous thunderstorms in South Florida and the Northeast last night and into this morning. This weather leads to airport closures and air traffic control programs. Whenever these weather events take place they can also create residual impacts as we work to reposition aircraft and crews," a JetBlue spokesperson told Insider.According to data from FlightAware, 50% of JetBlue flights were disrupted yesterday, with 44% being delayed and 6% being canceled. The airline had the highest ratio of flight disruptions compared to other carriers, including Southwest and American which only had 20% of flights delayed and 1% and 2% canceled, respectively.Meanwhile, Delta Air Lines, which, according to the airline, has the largest operation at New York's JFK International Airport, only had 17% of its flights delayed and 0% canceled on Thursday. Today, JetBlue has already delayed 27% and canceled 6% of its flights, compared to Delta, American, United, and Southwest that have all delayed less than 10% and canceled between 0 and 1%.Weather was the principal factor in the hundreds of flight cancellations incurred by airlines over the summer. In June, American was forced to slash 80 flights a day after extreme weather disrupted the operation. The airline also cut 1% of its schedule for July to help manage the travel boom as it battled weather and labor shortages.Meanwhile, Spirit Airlines' operation broke down after a poorly timed combination of severe weather and staffing issues, forcing it to cancel 2,000 flights as it fought to get its schedule back on track. Its slow recovery got the attention of the US Department of Transportation, which contacted the airline to "remind" them of passenger rights when their flights are canceled, reported The Points Guy. Spirit was still canceling half of its flights into its fifth day of disruptions, while JetBlue has only canceled 8% on its second day, according to FlightAware.Read the original article on Business Insider.....»»

Category: worldSource: nytSep 24th, 2021