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United"s largest club opens at Newark airport

The new, nearly 30,000-square-foot lounge features a modern design, enhanced amenities and culinary offerings, locally sourced art and furniture pieces, and views of the Manhattan skyline......»»

Category: topSource: foxnewsMay 20th, 2022

North America"s largest boat club opens Greater Cincinnati branch

The oldest and largest members-only boat club in the nation is now accepting members at its newly opened Greater Cincinnati branch. Freedom Boat Club's newest location at Manhattan Harbour Marina (1301 Fourth Ave.) in Dayton, Ky., opened its doors M.....»»

Category: topSource: bizjournalsJun 19th, 2018

Largest CNG fueling station in Columbus opens

The largest compressed natural gas fueling station in Columbus has opened for business.  The $7.8 million station at 5115 Krieger Ct. near Bolton Field airport opened this week. It is the fourth and largest of the city's CNG fuel stations. The.....»»

Category: topSource: bizjournalsJul 11th, 2018

Amid controversy, Turkey opens "world"s largest airport."

President Tayyip Erdogan has opened a new $11.7 billion airport outside Istanbul that officials say will be one of the world's busiest, though delays mean it will not be fully operational until January......»»

Category: videoSource: reutersOct 30th, 2018

Amid controversy, Turkey opens "world"s largest airport".

President Tayyip Erdogan has opened a new $11.7 billion airport outside Istanbul that officials say will be one of the world's busiest, though delays mean it will not be fully operational until January. Emily Wither reports......»»

Category: videoSource: reutersOct 30th, 2018

Amid controversy, Turkey opens "world"s largest airport"

President Tayyip Erdogan has opened a new $11.7 billion airport outside Istanbul that officials say will be one of the world's busiest, though delays mean it will not be fully operational until January. Emily Wither reports......»»

Category: videoSource: reutersOct 30th, 2018

American Airlines slashes November flights from Denver airport

The nation's largest airline significantly trimmed its flight schedule for November in the latest example of an airline adjusting to the industry's uneven recovery from Covid-19......»»

Category: topSource: bizjournalsAug 12th, 2022

4 Stocks to Buy Amid Growing Challenges in the Retail Sector

Rising prices have been hurting but higher demand for goods has been boosting retail sales, helping stocks like Dollar General (DG), Dollar Tree (DLTR), Costco Wholesale (COST) and Insight Enterprises (NSIT). People are spending cautiously amid rising prices but higher demand is forcing them to make more purchases, helping the retail sector. The retail sector, which is counted among the first casualties of soaring prices, has so far put up a good show, with sales growing almost every month.The economy is slowing but may not yet have slipped into recession as several sectors, including retail, have not yet succumbed to the inflationary pressure. In fact, they have shown steady growth amid this crisis. Given this scenario, retailers like Dollar General Corporation DG, Dollar Tree, Inc. DLTR, Costco Wholesale Corporation COST and Insight Enterprises, Inc. NSIT are likely to do well in the near term.Retail Sales Continue to Grow   The retail sector has put up an impressive show this year despite challenges like surging prices and supply-chain crisis. According to the latest Mastercard SpendingPulse, retail sales grew 11.2% year over year in July.Economists have cited surging fuel and food prices as the reason for steady growth in retail sales. That, however, may not be the case as excluding automotive and fuel, retail sales rose 9% in July.People have been negotiating their purchases amid growing prices but higher demand for consumer goods has been helping the retail sector flourish. Grocery sales jumped 16.8% year over year in July. Although higher prices played a role in this jump, demand for groceries has also increased over the year.Other segments like apparel recorded a 16.6% jump in sales, while jewelry sales grew 18.6% year over year in July.In-store sales have been rebounding at a fast pace after slowing for the past two years due to the pandemic. This saw online sales slowing down over the past few months. However, both in-store sales and e-commerce recorded solid growth in July.In-store sales grew 11.1% year over year in July and 13.9% from 2019. E-commerce sales grew 11.7% year over, year, its first double-digit growth since December.Retail Sector Sustaining Solid GrowthThe Fed has been aggressively raising interest rates in a bid to cool surging inflation. The U.S economy shrank 1.3% in the second quarter, recording its second consecutive quarter of decline. In technical terms, many consider it a recession.However, the economic data and actual situation still doesn’t indicate that. Although at a slower pace, factory orders for consumer durable goods and manufacturing activity are still on the rise. This indicates that there is still high demand for consumer goods, which eventually has been benefiting the retail sector.Moreover, inflation may have started cooling off finally. The latest Consumer Price Index (CPI) numbers remained unchanged from June’s reading. On a year-over-year basis, CPI for July rose 8.5% against expectations of a jump of 8.7%. Core CPI, which excludes volatile food and energy price, rose 0.3% month over month, a lot slower than June’s jump of 0.7%.Also, the U.S. economy added 528,000 jobs in July, while the unemployment rate declined to 3.5%, touching the lowest level since 1969. Average hourly wages too increased by $0.15 per hour or 0.56% to $32.27. Higher employment and wages mean people will earn more, which will give them more purchasing power.Our ChoicesThe retail sector is still performing well, and so long as demand for goods continues to grow, sales should be on the rise. This is thus the right opportunity to invest in retail stocks that have both a strong offline and online presence and boast of a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Dollar General Corporation is one of the largest discount retailers in the United States. DG offers a wider selection of merchandise, including consumable items, seasonal items, home products and apparel. Dollar General Corporation’s merchandise comprises national brands from leading manufacturers, as well as own private brand selections with prices at substantial discounts to national brands.Dollar General Corporation’s expected earnings growth rate for the current year is 13.3%. The Zacks Consensus Estimate for Dollar General’scurrent-year earnings has improved 0.4% over the past 60 days. DG has a Zacks Rank #2.Dollar Tree, Inc. is an operator of discount variety stores offering merchandise and other assortments. DLTR’s stores successfully operate in major metropolitan areas, mid-sized cities and small towns. Dollar Tree offers a wide range of quality everyday general merchandise in many categories, including housewares, seasonal goods, candy and food, toys, health and beauty care, gifts, party goods, stationery, books, personal accessories, and other consumer items.Dollar Tree’s expected earnings growth rate for the current year is 40.5%. The Zacks Consensus Estimate for Dollar Tree’s current-year earnings has improved 4.2% over the past 90 days. DLTR has a Zacks Rank #2.Costco Wholesale Corporation sells high volumes of foods and general merchandise (including household products and appliances) at discounted prices through membership warehouses. COST is one of the largest warehouse club operators in the United States. Costco Wholesale Corporation also operates e-commerce sites in the United States, Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan and Australia.Costco Wholesale Corporation’s expected earnings growth rate for the current year is 18.2%. The Zacks Consensus Estimate for Costco’s current-year earnings has improved 0.3% over the past 60 days. COST has a Zacks Rank #2.Insight Enterprises, Inc. is a global direct marketer of brand-name computers, hardware and software. NSIT is an Arizona-based publicly traded global technology company that focuses on business-to-business and information technology capabilities. Insight Enterprises markets to small-and-medium-sized businesses through a combination of a strong outbound telemarketing sales force, electronic commerce, electronic marketing and direct mail catalogs.Insight Enterprises’ expected earnings growth rate for the current year is 22.3%. The Zacks Consensus Estimate for Costco’s current-year earnings has improved 7.7% over the past 60 days. NSIT has a Zacks Rank #1. Zacks' Top Picks to Cash in on Electric Vehicles Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investorsSee 5 EV Stocks With Extreme Upside Potential >>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 Dollar General Corporation (DG): Free Stock Analysis Report Dollar Tree, Inc. (DLTR): Free Stock Analysis Report Costco Wholesale Corporation (COST): Free Stock Analysis Report Insight Enterprises, Inc. (NSIT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksAug 12th, 2022

I flew on an $8 million private aircraft that costs $5,000 an hour to charter and seats 8 — see inside the King Air 350i

I flew on a Wheels Up King Air 350i turboprop plane and saw why so many deep-pocketed travelers are opting for it instead of flying commercial. Wheels Up King Air 350i.Taylor Rains/Insider Wheels Up is one of the world's largest private charter companies with access to over 1,500 aircraft. The company owns or manages a direct fleet of 361 planes, including the King Air 350i workhorse. The turboprop goes for around $5,000 per hour, seats eight people, and offers plenty of amenities. With commercial flying proving to be a nightmare for travelers this summer, more people are switching to private aviation.Flying on VistaJet's Bombardier Global 5000 private jet.Taylor Rains/InsiderI flew on a $50 million Bombardier Global 5000 private jet from Montreal to New Jersey and saw why those who can afford it are flocking to private aviationCharter company VistaJet reported a 29% increase in new members over the past year, while competitor NetJets told Insider it has recorded a 72% increase in demand since the pandemic.A NetJets' Embraer Phenom 300E.Embraer Executive JetsOther companies are also seeing increased demand, including Wheels Up, which was founded in 2013 and has become one of the largest private charter companies in the world.Wheels Up King Air 350i.Taylor Rains/InsiderDubbed the "Uber of the Skies" by CEO Kenny Dichter, Wheels Up specializes in short and medium-haul flying but can also provide bigger jets for long-haul travel.Wheels Up King Air 350i.Taylor Rains/InsiderSource: Wheels UpWheels Up has access to over 1,500 planes, including smaller turboprops like the King Air 350i and longer-range jets like the Citation X. Hourly rates are "all-inclusive," meaning all fees and costs are included, so travelers know exactly how much they'll spend.Wheels Up Citation X.Wheels UpSource: Elite TravelerOf those 1,500, the company owns or manages a direct fleet of 361 planes. A company spokesperson explained that Wheels Up's service is versatile and can accommodate what its customer needs with a wide range of aircraft with different capacities and ranges.Wheels Up King Air 350i.Taylor Rains/InsiderSource: Wheels UpTo fly with Wheels Up, customers can become members or pay on-demand. The company has three membership options: Connect, Core, and Business.Wheels Up King Air 350i.Taylor Rains/InsiderHowever, all tiers have access to empty legs and shared flights, which can be organized via a dedicated Wheels Up members-only community forum.Wheels Up King Air 350i.Taylor Rains/InsiderSource: Elite TravelerMembers can "pay-as-you-go" or deposit up to $400,000 at sign-up. The deposit impacts the capped hourly rate for each category of aircraft, which varies from $4,995 for a King Air 350i to $12,995 for a large jet.Wheels Up Citation Excel/XLS.Wheels UpSource: The Points Guy, Wheels UpMoreover, the deposit can determine when members can book a flight. Those that deposit $100,000 or less must wait 90 days before booking a charter due to increased demand for private flying.VistaJet has reported a 29% increase in demand for private flying over the past year.Thomas Pallini/InsiderSource: The Points Guy, Wheels UpNon-members can also book Wheels Up flights via the mobile app, but the flight prices are not capped, meaning the rate can vary significantly depending on demand. A spokesperson told Insider that the average is around $5,000 per hour but can be more or less.Wheels Up app.Wheels UpSource: Wheels UpWheels Up also has a partnership with Delta Air Lines that allows members to fast-track their elite status with the airline and earn extra SkyMiles.Delta Air Lines aircraft.On The Run Photo/ShutterstockSource: Wheels UpI flew on the company's King Air 350i turboprop aircraft and was reminded of how much more convenient private flying is compared to commercial aviation. Here's what passengers can expect.Wheels Up King Air 350i.Taylor Rains/InsiderSeating up to eight passengers, the King Air 350i is manufactured by Beechcraft and costs $8 million to buy new.Wheels Up King Air 350i.Taylor Rains/InsiderThe turboprop aircraft is the foundation and workhorse of the Wheels Up fleet. The particular King Air 350i I flew on is owned by the company and painted in a branded livery.Wheels Up King Air 350i.Taylor Rains/InsiderWe took off from Teterboro Airport in New Jersey around 4:30 p.m. on a Wednesday afternoon. Because I was flying private, I did not have to go through security or scan a boarding pass, making the process quick and easy.The fixed-base operator (FBO) we flew out of. And FBO provides services for general aviation aircraft, like fueling.Taylor Rains/InsiderTwo pilots, which every Wheels Up flight is scheduled with, flew the turboprop to East Hampton on Long Island, New York.Wheels Up King Air 350i.Taylor Rains/InsiderTo be a Wheels Up pilot, applicants need a minimum of 3,500 flight hours to become a captain and 1,200 to be a first officer. Pilots must undergo extensive initial and recurrent flight training, as well as training in first aid and emergency situations.Wheels Up King Air 350i.Taylor Rains/InsiderSource: Wheels UpWheels Up recently announced a partnership with Delta that will allow cadets in the carrier's pilot training program to log hours with Wheels Up. This will provide "another path to full-time employment" and help alleviate the pilot shortage.Airline pilot walking through an airport.Taylor Rains/InsiderDelta tries to fix the national pilot shortage and accelerate training using private charter company in new partnershipThe takeoff was smooth, but the hour-long ride to New York was very bumpy. Despite the turbulence, the cabin was comfortable and amenity heavy.Wheels Up King Air 350i.Taylor Rains/InsiderOnboard, there are four sets of reclining seats facing each other in a 2x2 configuration.Wheels Up King Air 350i.Taylor Rains/InsiderThe padded loungers can swivel, giving more legroom between seats and making conversation across the aisle easier.Wheels Up King Air 350i.Taylor Rains/InsiderBetween each set of loungers is a large, sturdy table that folds out from the fuselage wall.Wheels Up King Air 350i.Taylor Rains/InsiderI thought the seats were spacious with plenty of legroom. I could easily maneuver around the aircraft and talk to other flyers.Wheels Up King Air 350i.Taylor Rains/InsiderAlso featured with the seat is a set of cupholders…Wheels Up King Air 350i.Taylor Rains/Insider…a storage compartment…Wheels Up King Air 350i.Taylor Rains/Insider…adjustable windows…Wheels Up King Air 350i.Taylor Rains/Insider…crossbody seatbelts…Wheels Up King Air 350i.Taylor Rains/Insider…and power outlets. Travelers can also connect to inflight WiFi.Wheels Up King Air 350i.Taylor Rains/InsiderDuring the flight, passengers will have access to plenty of snacks and drinks that are stored in easy-to-access drawers throughout the cabin, like water, soda, juice, granola bars, chips, and nuts…Wheels Up King Air 350i.Taylor Rains/Insider…as well as alcoholic beverages like liquor and wine.Wheels Up King Air 350i.Taylor Rains/InsiderThere is also coffee...Wheels Up King Air 350i.Taylor Rains/Insider…and television screens that display flight information.Wheels Up King Air 350i.Taylor Rains/InsiderIn the back of the plane is a cargo compartment for luggage…Wheels Up King Air 350i.Taylor Rains/Insider…and the bathroom, which is separated from the cabin by a sliding door and comes with a view.Wheels Up King Air 350i.Taylor Rains/InsiderThe toilet is hidden under a cushion…Wheels Up King Air 350i.Taylor Rains/Insider…while the sink is behind a door to the left of the toilet. The door was a little difficult to open, but I was impressed by what was inside.Wheels Up King Air 350i.Taylor Rains/InsiderThe sink comes fully stocked with first aid items and toiletries, like band-aids and mouthwash. There is also a large mirror on the inside of the door.Wheels Up King Air 350i.Taylor Rains/InsiderAfter an hour of cruising, we touched down in New York. We were off the plane and in the airport within a few minutes of landing.Wheels Up King Air 350i.Taylor Rains/InsiderOverall, I enjoyed Wheels Up's service, and the experience reminded me of how convenient flying private is and why deep-pocket travelers are switching over.Wheels Up King Air 350i.Taylor Rains/InsiderHowever, the one caveat I had with the King Air 350i is that four seats face backward, so on bumpy flights — like mine — some travelers could feel sick. If you're prone to motion sickness, it may be wise to bring anti-nausea medication onboard.Wheels Up King Air 350i.Taylor Rains/InsiderRead the original article on Business Insider.....»»

Category: personnelSource: nytAug 11th, 2022

Walmart defined Bentonville, Arkansas, for decades. Now the small town is ready to rebrand itself as a tourist destination for the young and outdoorsy.

Bentonville wants to attract young professionals and bikers. Longtime residents say housing prices have increased and the town is busier than ever. Bentonville, Arkansas.Getty Images The small town of Bentonville, Arkansas, has been the headquarters of Walmart for 50 years. Longtime residents, leaders, and real-estate agents say the town has changed a lot. Bentonville hopes to become a destination for bikers and young professionals. For 50 years, the small town of Bentonville, Arkansas, has been known as the home of Walmart headquarters. Now, the town that the Census Bureau reports has grown by more than 50% since 2010 is building a new reputation as a place for tourists and young professionals.This reputation has hundreds of millions of dollars behind it, thanks to Walmart, the Walton Family Foundation, and individual members of the Walton family. Local leaders, however, told Insider that the entire community has embraced the changes. "When I moved here in 2005, people bought a meal coming into a meeting at Walmart and bought a meal leaving that meeting," Kalene Griffith, the president of Visit Bentonville, whose job is to bring tourists to a town that's historically been known as a corporate center, told Insider. "We had one retailer and two restaurants downtown. Now, we have 16 restaurants and eight retailers."Kalene Griffith is the head of Visit Bentonville.Visit BentonvilleWith 63 miles of mountain-biking trails, Bentonville leaders declared the city the "mountain-biking capital of the world." Other attractions include two state parks located within 30 minutes of the town and an annual half-marathon. Bentonville's mayor, Stephanie Orman, said the city's museums "bring in more tourists than biking." Visit Bentonville estimated that 500,000 people visit the Crystal Bridges Museum of American Art annually, compared to 250,000 cyclists on the town's trails.Stephanie Orman is the mayor of Bentonville.City of BentonvilleThe first five miles of bike trails were added in 2007 — the same year voters approved a 10-year bond to expand the municipal airport, build and improve parks, and provide general infrastructure upkeep. According to data collected by Visit Bentonville, the number of homes in the town has increased by 150%. The prices have also shot up, Trina Hammond, who heads a team at Keller Williams Realty, told Insider. She owns a home in downtown Bentonville and has been a realtor for 15 years."One of the biggest real-estate changes is that downtown home prices have more than doubled in the last five years. People want to be able to walk to the bars, restaurants, museums, and bike paths," Hammond said, adding that northwest Arkansas is reshaping how people view the state. "The big surprise that transplants from places like California have is that they expect cheap land and housing, but as the city has boomed, it has pushed them to more affordable housing in the suburbs."The decades-long rebrand has attracted visitors who in the past may have driven by Bentonville without giving it a second thought. Chris Moody, a roving freelance writer who travels thousands of miles a year with his wife in a self-built camper van, told Insider the pair recently made a detour just to see Bentonville after hearing about the city's expansion and investment in the arts, particularly the Crystal Bridges Museum.Chris and Cristi Moody.Chris and Cristi Moody"We had a great time visiting the museum. It was worth the trip," Moody said. "Bentonville is making a clear play to attract young families looking for a modern quality of life without having to live near a big city."Walmart is still a major influence in the city's growth and evolutionWalmart is the elephant in the room with any discussion about Bentonville's growth. Service-providing companies are the largest employers in Bentonville, according to Bureau of Labor Statistics data. Orman attributed this to Walmart building its new corporate headquarters in the town; additionally, more than 1,600 Walmart suppliers had offices in the town as of 2018, up from 445 in 2001.And even funding for community projects that doesn't come from Walmart often comes from its founders. OZ Trails and the holding company Runway Group, which have taken leading roles in trail and biking development in northwest Arkansas, including in Bentonville, are run by Sam Walton's grandsons, Steuart and Tom. In a 2018 press release, the Walton Family Foundation said that it had invested $74 million to build 163 miles of trails in the region.Walmart and many Waltons also support the city's museums: The Crystal Bridges Museum was founded by Alice Walton and received $20 million from Walmart in 2011 to cover free admission to the museum, while the Momentary, a contemporary art space, opened in 2020 with financial support from the Walton Family Foundation.Alice, Rob, and Jim Walton, children of Walmart founder Sam Walton.AP Photo/April L. BrownAnother Walton nonprofit, the Walton Family Charitable Support Foundation, has funded a three-year grant at NorthWest Arkansas Community College for the nation's first bicycle assembly and repair technician program to be accredited by the Bicycle Industry Employers Association, which creates educational partnerships for bike technicians. The program is intended to support the influx of competitive and casual cyclists. The first cohort of 23 students started last fall, Megan Bolinder, the college's dean of workforce and economic development who heads the technician program, told Insider. "Students will take nine classes to receive the certificate, and then if they choose, the coursework can be used for an associate's degree in general technology at NWACC, which then transfers to two universities in Arkansas," she said. Longtime residents have mixed feelings about the town's growthJack Lloyd has spent his entire life in Bentonville, as have his children and grandchildren. Born in 1964, he told Insider he estimated the town's population was around 3,500 people at the time — which is barely larger than the student population he now oversees as principal of Bentonville High School."Bentonville really began changing around 2004," when Walmart vendors began moving operations to the town, Lloyd said. He added that while the growth has been explosive, "outgrowing anything that could be planned," it was very well-managed."You couldn't build roads and homes fast enough, and we were adding 100 to 200 students per year at the high school," he said. But Bentonville's rural environment worked in its favor. "Sleepier communities and farms that weren't developed became places for new homes and businesses without causing major issues," he said.While Lloyd said a lot of locals complain about increased traffic and housing prices, it's a matter of perspective. "People from Sacramento think this is nothing. And for locals, you can earn more money than other parts of Arkansas. I've spent 32 years as a teacher, vice principal, and principal, and I've never seen so many opportunities for students to work with the businesses that have come to town," he said."When I was a kid, the town center was where things happened," Lloyd added. "That changed a few decades ago, when Walmart built new headquarters near the highway. But with the museums, restaurants, and bike trails all centered on downtown, it's now the happening place again."Elizabeth Ganey has mixed views on Bentonville's rapid growth. She and her husband moved to the town to work at Walmart 11 years ago, when the company offered them jobs after they recieved their MBA degrees. "There are opportunities here that my kids wouldn't have had 10 years ago," she told Insider. "But I'm also not a crowd person, which is something you have to deal with in Bentonville."Visit BentonvilleTo avoid the increasingly crowded neighborhoods and downtown streets, Ganey and her husband moved with their three children to an 11-acre property between Bentonville and nearby Siloam Springs. She said living outside of the town proper allows the family to "pick and choose" which parts of northwest Arkansas they visit for different needs. "The Bentonville library is the best in the area. Our kids go to a private school one town over, and we take the kids to Siloam Springs for non-crowd fun," she said.Ganey is now the marketing coordinator for St. Stephen Catholic Church in Bentonville, while her husband works at a tech startup. She said his choice is common for alumni of Walmart's corporate headquarters. "There are a lot of consumer-data startups in the area because they can provide service to Walmart's corporate headquarters, Walmart stores in the area, and Walmart vendors," she said. Conor Brown and Shane Smith live near Bentonville and told Insider they're regulars on its trails as active members of the region's mountain-bike community. They welcomed the town's new brand."It's not a secret that Walmart is trying to attract young people to their corporate headquarters," Brown said. "Creating a high-quality environment and brand to live, work, and play is part of that strategy.""Bentonville's aspirations are clear, but so is their investment in all aspects of the town," Smith added. "They've gone from a few trails to a massive infrastructure, which services recreational and experienced bikers alike, and my girlfriend and I enjoy regularly partaking of what Bentonville offers." Griffith and Orman stood behind their "world capital" claim. "Eighty percent of mountain bikers are leisure cyclists," Griffith said. "Our trails feature art installations, family-friendly and competitive options, and a trailhead that goes straight into downtown. Places like Cherokee, North Carolina, and Tulsa, Oklahoma, contact us about building their own trail networks. We're happy to help share our experience with them.""The 2016 World Summit basically put us on the cycling map," Orman added. "We have one of the few trailheads that doesn't require a car to get to. Our trails are open year-round, which is very attractive to mountain bikers from snowy regions."Read the original article on Business Insider.....»»

Category: topSource: businessinsiderAug 10th, 2022

COP27 outlook falls as Russia, China shun climate talks with U.S.

By David Callaway, Callaway Climate Insights Today in Callaway Climate Insights: – China’s suspension of climate talks with the U.S. was inevitable after Pelosi’s Taiwan visit. What’s next? – How Sen. Joe Manchin threw a wrench into the climate plan’s electric vehicle strategy – Biden’s climate bill opens vast new areas for off-shore wind development. […] By David Callaway, Callaway Climate Insights Today in Callaway Climate Insights: – China’s suspension of climate talks with the U.S. was inevitable after Pelosi’s Taiwan visit. What’s next? – How Sen. Joe Manchin threw a wrench into the climate plan’s electric vehicle strategy – Biden’s climate bill opens vast new areas for off-shore wind development. Here’s where. – Solar power driving renewable energy to a new record in 2022 It was inevitable that China’s temper tantrum over Nancy Pelosi’s Taiwan visit would include suspension of climate talks with the U.S. And while it will likely be temporary, coming this close to the United Nations COP27 climate summit in three months means that two out of four of the world’s largest polluters — China and Russia — won’t be at the table with U.S. counterparts. The suspension of the talks last week — as we noted, one of several strings China will pull to make its displeasure with the Biden Administration known — blows a hole in the diplomatic concept of “compartmentalization” touted by U.S. climate czar John Kerry as a way to place global warming outside of the usual geopolitical negotiations between nations. It threatens to weaken the buildup to COP27 in Egypt to the point where there is little hope of meaningful progress in Sharm El-Sheikh around issues such as distribution of funds from wealthy polluters to small countries bearing the brunt of global warming. As Kerry rightly pointed out, China’s suspension of talks doesn’t punish the U.S., it punishes the more vulnerable countries. Russia’s step back from international talks on things like the space station and climate change after its invasion of Ukraine, and China’s provocative acts toward Taiwan, portend a world where climate progress remains in the back seat to territorial disputes and cold war politics. More of a space-race competition than a partnership for the good of the planet. Despite the progress made by the Biden team in getting the climate bill passed over the weekend, the drawing of lines between East and West that we’ve seen so far in 2022 remains the biggest threat to any progress. Which makes it the obvious first card to play in any dispute, as self-destructive as that is. More insights below . . . . Subscribe to Callaway Climate Insights to keep reading this post and get 7 days of free access to the full post archives. Sponsored: Find a Qualified Financial Advisor Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now......»»

Category: blogSource: 247wallstAug 10th, 2022

Hospitality-Infused Repositioning at 545 Madison Drives Occupancy to 100 Percent with 76,500 SF of New and Extended Leases

Marx Realty (MNPP), a New York-based owner, developer and manager of office, retail and multifamily property across the United States, announced today it has signed 76,500 square feet of new and extended leases at 545 Madison. Marx Realty took control of the building in December 2019 with occupancy at 68 percent,... The post Hospitality-Infused Repositioning at 545 Madison Drives Occupancy to 100 Percent with 76,500 SF of New and Extended Leases appeared first on Real Estate Weekly. Marx Realty (MNPP), a New York-based owner, developer and manager of office, retail and multifamily property across the United States, announced today it has signed 76,500 square feet of new and extended leases at 545 Madison. Marx Realty took control of the building in December 2019 with occupancy at 68 percent, and in danger of approaching 40 percent. The firm immediately began infusing the space with its signature hospitality aesthetic completing renovations of the lobby, façade and two pre-built office suites. Construction is also underway on a club-like lounge space on the 8th floor – branded the Leonard Lounge – as part of the $7 million repositioning at 545 Madison. “When we took control of 545 Madison, we wasted no time in planning and executing a hospitality-rich renovation to transform the space into one of the most sought-after office properties in Manhattan,” said Craig Deitelzweig, president and CEO of Marx Realty. “Leasing velocity and demand at 545 Madison has far exceeded any reasonable expectations and proves the flight to quality is very real. In fact, there were existing tenants who had one foot out the door before we shared our plans. Existing tenants finalized extensions based on our strong reputation in the sector and we completed construction swiftly, even in the face of a global pandemic. The value of speedy and distinctive office building redesign is immeasurable.” A Cushman & Wakefield team led by Tara Stacom represented Marx in each of the following transactions and asking rents ranged from $84-101 per square foot: ·                Vialto Partners, a spinoff of Price Waterhouse Coopers, signed a new lease for 8,000 square feet on the 14th floor. David Dusek of Cushman & Wakefield represented the tenant. ·                Qurate Retail Group (formerly HSN) extended its lease across two floors comprising 12,000 square feet. Ramsey Feher of CBRE represented the tenant. ·                Ogden Capital, the largest tenant at 545 Madison, recommitted to 42,000 square feet occupying the entire 7th floor. There was no tenant broker. ·                Corniche Growth Advisors signed a new lease for 6,500 square feet on the 8th floor of 545 Madison, where the new club lounge will come to life in the coming months. Corey Horowitz and Jonathan Tootell of SquareFoot represented Corniche Growth Advisors. ·                A well-known private equity firm signed a new lease for 8,000 square feet at 545 Madison. Paul Glickman and Kristen Morgan of JLL represented the tenant. “Marx has set a new benchmark for the office experience,” said Deitelzweig. “As leasing velocity across our portfolio remains incredibly strong, it’s clear that tenants have a true appreciation for this remarkable aesthetic and truly special spaces as the workforce returns to in-person work.” The top-to-bottom renovation at 545 Madison – including a reimagined lobby, sleekly styled pre-built office suites and, coming soon, a 7,000-square-foot indoor/outdoor club space – offers a contemporary experience that transcends the commodity office tower experience. Marx Realty reinvented the lobby space at 545 Madison by infusing it with warm materials and soft curves while a uniformed doorman attends the entry doors leading to a space replete Marx’s signature scent, sophisticated mood music and soothing lighting to round out the sensory experience. A variety of seating options and a well-stocked library of finance, fashion and design books help create a sense of community in the building. The club space will be branded the “Leonard Lounge” and is a strong differentiator for tenants. The inviting lounge space, reminiscent of a members-only club, will include a ceiling suspended fireplace, bar seating overlooking a 2,000-square-foot landscaped terrace and a 40-seat boardroom. The Leonard Lounge will provide tenants the option to work by day or unwind with an evening cocktail in a space outside of the traditional office setting. Intimate seating options, warm walnut wood and bronze finishes and Marx Realty’s signature scent will punctuate the hotel-like experience while a café with built-in appliances will afford tenants the ability to host catered events. And, in connection with each new lease, as part of its continuing efforts to foster a healthy environment, Marx will plant three new trees in the local community. David Burns and Kristin Kaiser of Studios Architecture worked with Marx Realty’s in-house design team to reimagine the lobby and amenity spaces at 545 Madison. Additional tenants at 545 Madison include private equity firm Snow Phipps, Strike GTS and top-tier wealth management companies. The post Hospitality-Infused Repositioning at 545 Madison Drives Occupancy to 100 Percent with 76,500 SF of New and Extended Leases appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyAug 9th, 2022

Investors are Buying These 5 Stocks as New Survey Shows “Dire” Pessimism

In this article, we discuss 5 stocks investors are buying amid “dire” pessimism. If you want to see more stocks in this selection, check out Investors are Buying These 10 Stocks as New Survey Shows “Dire” Pessimism.  5. Costco Wholesale Corporation (NASDAQ:COST) Number of Hedge Fund Holders: 61 Costco Wholesale Corporation (NASDAQ:COST) is an American […] In this article, we discuss 5 stocks investors are buying amid “dire” pessimism. If you want to see more stocks in this selection, check out Investors are Buying These 10 Stocks as New Survey Shows “Dire” Pessimism.  5. Costco Wholesale Corporation (NASDAQ:COST) Number of Hedge Fund Holders: 61 Costco Wholesale Corporation (NASDAQ:COST) is an American multinational corporation which operates big-box retail stores. Costco Wholesale Corporation (NASDAQ:COST) has consistently raised its annual dividends for the last 19 years and it is on its way to being a dividend aristocrat. On July 27, the company declared a $0.90 per share quarterly dividend, in line with previous. The dividend is payable on August 12, to shareholders of record as of July 29.  On August 4, Truist analyst Scot Ciccarelli raised the price target on Costco Wholesale Corporation (NASDAQ:COST) to $571 from $543 and kept a Buy rating on the shares after July data revealed that sales jumped 10% on a comparable basis. Costco Wholesale Corporation (NASDAQ:COST)’s “unmatched” value proposition continues to support higher sales trends, and in an increasingly tough economic backdrop, the company’s “extremely competitive” pricing will allow it to gain market share as consumers seek out value, the analyst told investors in a bullish thesis. According to Insider Monkey’s data, 61 hedge funds reported owning stakes in Costco Wholesale Corporation (NASDAQ:COST) at the end of Q1 2022, up from 57 funds in the prior quarter. Ken Fisher’s Fisher Asset Management held the largest position in the company, with 4.2 million shares worth $2.4 billion.  Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about Costco Wholesale Corporation (NASDAQ:COST) in its Q4 2021 investor letter: “Portfolio gains were led by a diverse group of contributors. Also in consumer discretionary, Costco, which operates a chain of membership-only big-box retail stores, continues to impress as it takes to share and becomes more relevant for the consumer even as the world opens up.”.....»»

Category: topSource: insidermonkeyAug 9th, 2022

Airline passengers boarded, deplaned, then boarded again before their flight was canceled after technical issues and staffing problems

A Wizz Air flight was delayed by technical issues and later canceled due to staffing issues after passengers had been boarded and deplaned twice. Wizz Air is Europe's third largest low-cost regional airline.Getty Images Wizz Air passengers traveling from Cardiff to Corfu were boarded and deplaned twice, per Wales Online. The flight was delayed by four hours due to technical issues and passengers were deplaned. After passengers were boarded for a second time, the flight was canceled due to staffing issues. Passengers traveling from Cardiff, Wales to the Greek island of Corfu last week were boarded and deplaned twice for a flight that was eventually canceled, Wales Online reported.The flight, operated by Wizz Air, was due to depart on August 7 but was hit with both technical difficulties and staffing issues, causing it to be delayed by around four hours and then ultimately canceled. Wizz Air did not immediately respond to Insider's request for comment on the incident.A passenger, Sean Glossop, told Wales Online the first delay was due to a technical fault with the plane.He said engineers had to "turn the plane on and off again" and passengers were deplaned. He added they were then sent back to the airport with a $5 food voucher which was "enough to buy half a sandwich" at Cardiff Airport.After the passengers were boarded for a second time, they were told the pilots had run out of working hours and were deplaned for a second time while the airline arranged a standby crew, Glossop said. Pilots have a legal maximum limit of working hours, 900 hours per year, to prevent fatigue and unsafe flying conditions.Glossop said when passengers returned to the terminal there were advised by staff that the flight was canceled. Data from flight tracking website FlightRadar24 appears to show that the plane never departed Cardiff."All in all, they kept us waiting for around four hours whilst boarding and deboarding us twice, with absolutely no help from anyone working for the airline to rebook passengers," Glossop said. Wizz Air did not immediately respond to Insider's request for comment on the incident.This summer, as travel disruptions and staffing issues impact the aviation sector, pilots from many airlines have complained about overwork, toxic work environments, and fatigue, Insider has previously reported.Last month, the CEO of Wizz Air, József Váradi, faced criticism for appearing to suggest pilots should fly while fatigued, Insider reported. Váradi reportedly said pilots should "take the extra mile" despite fatigue to help stabilize flight schedules."We have a robust and responsible crew management system which meets the needs of our people and enables us to serve as many customers as possible in the current challenging environment," a Wizz Air spokesperson told Insider at the time.Read the original article on Business Insider.....»»

Category: personnelSource: nytAug 9th, 2022

See inside a new co-working space in New York City that costs $125,000 to join, plus $36,000 in annual dues

Scheduled to open in March, the new space called Colette boasts Central Park views. Its founders are betting NYC's wealthy are tired of working from home. Juan Santa Cruz is one of the developers of Colette. His London restaurants serve high-profile and celebrity clientele.Photographer: Weston Wells A new ultra-luxury coworking space in New York will cost members $125,000 to join, plus $36,000 in yearly dues. The club, called Colette, will open in March and boasts views of the Plaza Hotel and Central Park.  Take a look inside the ritzy coworking space before it opens to members.  A new ritzy coworking space is betting that New York City's ultra-rich don't like working from home. Colette, a private club and coworking space, is set to open in midtown Manhattan in March and will cost $125,000 to join, plus $36,000 in yearly dues.Bloomberg, which first reported the details about Colette, dubbed the space a "WeWork for the .01%."The space boasts views of Central Park and the Plaza Hotel and will include 23 private offices with individual temperature and light controls, conference rooms, and a "members lounge," according to Bloomberg.The project was co-founded by Juan Santa Cruz, a designer and restaurateur whose London restaurants count Madonna, Elton John, and Prince Harry as customers, according to the New York Post. Colette comes at a time when working from home has become the norm for many workers in major cities, and some experts predict it will take years for New York City to reach pre-pandemic levels of in-person work. "The world has been evolving for quite some time, and the pandemic has made it more evident that people do not use their offices as much as they think they do or wish they did," Santa Cruz told Bloomberg. Santa Cruz said he wants to open Colette for people who "are used to having an amazing office." Check out photos of the ultra-luxury working space before it opens to members. Colette's lobby: Juan Santa Cruz says he is designing the club "with a view to the future, about how people are working now and how they'll work in five years."Colette private lobbyColetteSource: Bloomberg One of Colette's conference rooms: There will be staff on hand to serve coffees and provide support.Colette conference roomColetteSource: BloombergOne of the club's 23 private offices: Each one will have temperature and light controls.Colette officeColetteSource: Bloomberg Colette's owner's lounge: The club will only accept 300 members to start.Colette owner's loungeColetteSource: BloombergThe club's restaurant, Coco's: The buy-in fee for the access to the restaurant will be lower, and the membership will be larger than the club itself.Coco's RestaurantColetteSource: Bloomberg The club's restaurant will have a bar, a dining room, and a chef's table.Colette omakaseColetteSource: Bloomberg Read the original article on Business Insider.....»»

Category: smallbizSource: nytAug 8th, 2022

JetBlue"s CEO says he has to "over-hire" just to retain the number of staff the airline needs, following an exodus of workers from the industry

"With COVID, we lost a lot of experienced people," JetBlue CEO Robin Hayes said in an interview with the BBC this week. JetBlue CEO Robin Hayes joins fellow airline executives, union heads and politicians for a news conference to call on Congress to pass an extension of the Payroll Support Program to save thousands of travel jobs, September 2022Chip Somodevilla / Staff / Getty JetBlue's CEO said he's having to "over-hire" airline workers following an exodus from the sector.  Robin Hayes told the BBC that the airline has seen staff leave aviation in droves. Half of JetBlue's 24,000 staff will have been at the airline less than 2 years by the end of 2022.  JetBlue's CEO said that the company is having to "over-hire" just to ensure it has enough staff to meet its needs because of the speed at which people have been leaving the aviation industry. Wide-spread labor shortages have led to a summer of travel chaos as airlines, airports and freight companies have struggled to rehire workers after the coronavirus pandemic. The result has been widespread cancellations, delays, and difficulties handling baggage at peak times. "I now need to over-hire just to keep the number I need," Robin Hayes, CEO of JetBlue  told the BBC. "With COVID, we lost a lot of experienced people," he said. Hayes said that the airline has had to adjust the way it hires workers and increase the number of training simulators and classrooms in order to keep up with the rate that people are leaving the sector. JetBlue has 24,000 crewmembers according to its website. By the close of 2022, half of them will have been with the airline for less than two years, per the BBC. "Even if you can get the people, they don't have the same experience as someone who was doing that job for 10 or 15 years, so it's going to take longer for them to learn the skills," Hayes said.Although it's hard to give an exact figure, a study by Oxford Economics, reported by the Financial Times, estimated that there were 2.3 million fewer people working in aviation in September 2021 compared to the beginning of the pandemic.In July, 65.4% of JetBlue's scheduled flights arrived on time, according to a tracker by the data provider OAG. The airline canceled 4.3% of flights during the first half of 2022, according to OAG. Hayes told the BBC that he does not think the sector will back to normal, pre-pandemic operational levels by next year, per the BBC.The airline did not immediately respond to Insider's request for further comment, which came outside usual business hours. Despite a difficult operating environment, JetBlue is looking to expand.In July, it beat Frontier to strike a deal to acquire regional budget airline Spirit in a $3.8 billion deal that could create the USA's fifth largest airline. On Thursday, JetBlue opened its second non-stop transatlantic route, between Boston Logan and London Gatwick airport. The launch was previously postponed due to a delayed delivery of two Airbus A321LR jets.Its inaugural daily service between New York and London Heathrow began last year.  Read the original article on Business Insider.....»»

Category: topSource: businessinsiderAug 8th, 2022

I flew on Air Canada in economy from London to Montreal and while the Boeing 787 was comfortable, the food was a real disappointment

It was my first time flying Air Canada, and while I did find the seat comfortable and spacious, one meal reminded me of baby food. Flying internationally on an Air Canada 787.Taylor Rains/Insider I flew on Air Canada's Boeing 787 from London to Montreal and was disappointed in the food. I typically enjoy airplane meals, but both had a weird taste and texture, reminding me of baby food. Despite the gross food, I found the seat spacious and comfortable, but I still wouldn't book the carrier again. Flying internationally can be a hit-or-miss experience, especially this year as the industry recovers from the pandemic.People wait in long queues for security at Heathrow Airport on June 1.Carl Court/Getty Images.What to do when an airline kicks you off a plane you're already onAirlines are less reliable than ever, from lost luggage to canceled flights, and travelers are losing trust in the industry.Unclaimed luggage piles up at London Heathrow Airport on July 8, 2022.PAUL ELLIS/AFP via Getty Images.Flying has become a nightmare as cancelations and delays skyrocket. Experts say it could get even worse.Knowing the risks of flying this summer, I was worried about my recent trip from London to Montreal on Air Canada, particularly since I had to fly out of Heathrow airport, which has implemented a passenger cap due to staffing issues.Grace Dean/InsiderHeathrow Airport, a crucial global travel hub, asks airlines to stop selling tickets and caps passenger numbers amid travel chaosNot to mention, Air Canada has been experiencing a lot of flight disruptions this year, having canceled or delayed over 14,500 flights since May 25, according to FlightAware data shared with Insider.Josef Hanus/ShutterstockA family of four missed a long-awaited Disney cruise after Air Canada cancelled their flight, joining hundreds of passengers with vacation plans foiled by summer travel chaosI wasn't sure if the airline would provide a smooth experience, but, to my surprise, the operation was solid. We departed and arrived on time; however, I would never fly the carrier internationally again for one reason — the food. Here's what it was like flying on Air Canada.The plane at the gate in Montreal.Taylor Rains/InsiderI started my journey at London's busy Heathrow airport at 5:30 a.m. — four hours ahead of my 9:30 a.m. departure. This was at the airline's recommendation, shown on my boarding pass.A screenshot of my boarding pass with the recommendation to arrive four hours early.Taylor Rains/InsiderI expected the airport to be crowded, and I wasn't wrong. Walking in, there were insanely long lines for bag drop, including people lining up outside because there was not enough space inside the check-in lobby.Passengers with checked luggage lined up outside Heathrow's Terminal 2.Taylor Rains/InsiderFortunately, I packed 11 days' worth of stuff into a carry-on and personal item, so I did not need to visit the bag drop at the Air Canada check-in area.My carry-on and duffle.Taylor Rains/InsiderHowever, I did stop by to see if the counter was busy, and it was surprisingly tame. Plenty of kiosks were open, and the bag drop line was short. This was probably because I arrived so early.Flying internationally on an Air Canada 787.Taylor Rains/InsiderHaving checked in online, I didn't need to stick around the check-in area, so I made my way to security.There were kiosks to check in and get a boarding pass.Taylor Rains/InsiderHeathrow only allows passengers to carry one baggies worth of toiletries through the checkpoint, so I spent about 10 minutes transferring my liquids from my carry-on to the transparent bag.Successfully fit all my toiletries in the small baggie.Taylor Rains/InsiderAfter finally organizing my toiletries, I scanned my boarding pass and made my way through the line, which only took about 15 minutes. The airport had multiple lanes open, and the agents helped get everyone through quickly.Flying internationally on an Air Canada 787.Taylor Rains/InsiderThe entire process, from drop-off to clearing security, only took me 30 minutes. I do think this was because of the early hour I arrived, so for travelers looking to fly out of Heathrow — book a morning flight and arrive super early.Flying internationally on an Air Canada 787.Taylor Rains/InsiderI had to kill about three hours before boarding, so I grabbed some coffee and a snack before walking 15 minutes to my gate. Terminal 2 is huge, so I'm glad I didn't wait until the last minute to head over to the B gates.Flying internationally on an Air Canada 787.Taylor Rains/InsiderI sat for about an hour before the plane started boarding. At the gate, passengers were reminded that Air Canada still requires masks.Flying internationally on an Air Canada 787.backslashTaylor Rains/InsiderMoreover, the agent said there will not be enough overhead space to accommodate all carry-on bags. I was worried because of the horror stories of lost luggage, and I specifically planned to not check one. Luckily, I got mine on with no issue.I was on a full flight.Taylor Rains/InsiderCruise passenger embarrassed over wearing sweatpants for 15-day 'trip of a lifetime' after Air Canada failed to deliver her delayed baggage, report saysBecause I booked a basic economy ticket, I did not get a seat assignment or boarding zone at check-in, but the agent told anyone without a zone to wait until zone 5 was called.My boarding pass without a zone or seat.Taylor Rains/InsiderThis meant I was one of the last people on the plane. However, I knew this would be the reality of booking the cheapest fare, so I didn't mind.The plane at the gate in London.Taylor Rains/InsiderOnce I scanned my boarding pass, a small slip of paper popped out of the machine assigning me to seat 41C, which was the plane's last row.Flying internationally on an Air Canada 787.Taylor Rains/InsiderAir Canada's Boeing 787-8 Dreamliner was nothing special and reminded me of most other mainline carriers I've been on.Flying internationally on an Air Canada 787.Taylor Rains/InsiderBusiness class was up front…Air Canada business class.Air CanadaSource: Air Canada…followed by premium economy…Flying internationally on an Air Canada 787.backslashTaylor Rains/Insider…and regular economy.Flying internationally on an Air Canada 787.Taylor Rains/InsiderPremium economy reminded me of United Airlines' premium plus loungers, though Air Canada's appeared slightly less padded. United and Air Canada are both Star Alliance members.United Airlines premium plus.Taylor Rains/InsiderI made my way to row 41 and was surprised to see there were only two seats — middle and aisle. The rest of the economy class cabin was in a 3x3x3 configuration.View from my seat to the window.Taylor Rains/InsiderTechnically, the middle seat was a window, though there was a large gap between it and the fuselage wall. Nevertheless, the open space was the perfect spot to stow my duffle bag.Below the window was a large gap.Taylor Rains/InsiderI stored my carry-on bag a few rows ahead of me because the overhead bins above rows 40 and 41 were for flight attendant use only. This wasn't a big deal because I had everything I needed for the flight in my personal item.Flying internationally on an Air Canada 787.Taylor Rains/InsiderWhile we waited for takeoff, I got settled in my seat and explored the amenities offered.Flying internationally on an Air Canada 787.Taylor Rains/InsiderAccording to SeatGuru, economy pitch on the Boeing 787-8 varies from 30 to 34 inches. My seat had 31 inches of pitch with 17.3 inches of width, which I found to be plenty spacious. However, I am only 5'3" and on the smaller side, so larger travelers may feel cramped.Flying internationally on an Air Canada 787.Taylor Rains/InsiderSource: SeatGuruThe bulkhead and the exit row had plenty of legroom, so I suggest upgrading if you want more space.Flying internationally on an Air Canada 787.Taylor Rains/InsiderAs far as the product itself, it was exactly what I expected. The seat offered good recline…Flying internationally on an Air Canada 787.Taylor Rains/Insider…a TV screen with plenty of movies, TV shows, and games…Flying internationally on an Air Canada 787.Taylor Rains/Insider...USB ports in the screen and outlets under the seat in front...Flying internationally on an Air Canada 787.Taylor Rains/Insider…a large tray table…Flying internationally on an Air Canada 787.Taylor Rains/Insider…an adjustable headrest...Flying internationally on an Air Canada 787.Taylor Rains/Insider...and dimming windows. The dark setting helped passengers block out the sun during the daytime flight.Flying internationally on an Air Canada 787.Taylor Rains/InsiderMoreover, the seat came with a pillow and blanket, which helped me sleep…The last row in the middle (pictured) was reserved for the crew.Taylor Rains/Insider…and the lavatory was large with plenty of space to move around.Flying internationally on an Air Canada 787.Taylor Rains/InsiderFor passengers who don't have wired headphones, like me, Air Canada hands out a pair before takeoff. I used them and thought the audio was fine, and they didn't hurt my ears.Flying internationally on an Air Canada 787.Taylor Rains/InsiderWe pushed back from the gate right on time and were en route to Montreal soon after. The flight took about six and a half hours.Flying internationally on an Air Canada 787.Taylor Rains/InsiderAfter takeoff, I started browsing through the inflight entertainment system. There was a cool moving map that tracked the entire flight…Flying internationally on an Air Canada 787.Taylor Rains/Insider…but I was particularly impressed when I saw the dining menu loaded into the system. Options included a chicken dish with mash and a pasta dish. I chose the pasta.Flying internationally on an Air Canada 787.Taylor Rains/InsiderWhile the meals sounded good on paper, I was extremely disappointed that nothing about Air Canada's food was appetizing.Flying internationally on an Air Canada 787.Taylor Rains/InsiderThe service started about an hour into the flight and I was excited to try the meal. Unlike many other frequent flyers, I like airplane food and have toured several kitchens where it is made.Inside Gate Gourmet's Washington Dulles kitchen.Taylor Rains/InsiderI tried meals prepared by the world's largest provider of airplane food, and here's why I'll never look at inflight meals the same way — but for good reasonsMost recently, I've flown KLM, United, and JetBlue on long-haul flights and loved each meal, so I expected the same from Air Canada, especially being a mainline carrier and part of a major international alliance.International inflight meal on JetBlue (New York to London).Taylor Rains/InsiderBut, to be frank, the taste and texture were gross. The pasta had an unpleasant tangy flavor, while the side salad was just cucumbers covered in too much dressing.Flying internationally on an Air Canada 787.Taylor Rains/InsiderI did eat the roll with butter though, and the chocolate dessert wasn't too bad. That, along with the bag of pretzels I brought, was enough to hold me over until lunch.Flying internationally on an Air Canada 787.Taylor Rains/InsiderHowever, the second meal was not any better. We were offered a chicken or veggie pastry, and I chose the veggie option. There were no sides.Flying internationally on an Air Canada 787.Taylor Rains/InsiderLike the first dish, the pastry was also not very good. The veggies were mashed into a paste, which reminded me of baby food, and I stopped eating it after a few bites.Flying internationally on an Air Canada 787.Taylor Rains/InsiderOn the bright side, the airline does offer free alcoholic beverages to all economy passengers, so I helped myself to Diet Coke and Bacardi.Flying internationally on an Air Canada 787.Taylor Rains/InsiderThe airline also had good coffee, as well as very attentive flight attendants and professional pilots.Flying internationally on an Air Canada 787.Taylor Rains/InsiderThis was my first time flying Air Canada and while I did find the seat comfortable and spacious, I doubt I'll ever book the carrier internationally again.Flying internationally on an Air Canada 787.Taylor Rains/InsiderThe food was simply inedible, in my opinion, and I expected to eat on the flight, so I was hungry for most of the journey.I did like the coffee — it didn't taste burnt like other carriers I've been on.Taylor Rains/InsiderIf I end up having to book Air Canada again in the future due to timing or budget, I will make sure to bring more snacks onboard. And, fortunately, I can rely on a comfortable seat.Flying internationally on an Air Canada 787.Taylor Rains/InsiderRead the original article on Business Insider.....»»

Category: personnelSource: nytAug 7th, 2022

US Prepares To Send $1 Billion In Latest Ukraine Weapons Package

US Prepares To Send $1 Billion In Latest Ukraine Weapons Package The Biden administration is reportedly about to send $1 billion more in US taxpayer funded aid to Ukraine, in what will be one of the largest packages so far, Reuters reports. Ukrainian servicemen load a truck with the FGM-148 Javelin, American made-portable anti-tank missiles provided by U.S. to Ukraine, at Kyiv's airport Boryspil on Feb. 11.Sergei Supinsky / AFP via Getty Images file The aid will include munitions for long-range weapons and armored transport vehicles, according to three anonymous sources, who added that the package had not yet been signed by President Biden, and could change in value and content before it's a done deal. As it currently stands, the assistance includes munitions for HIMARS, NASAMS surface-to-air-missile system ammunition, and up to 50 M113 armored medical transports. As Reuters notes, the latest assistance - which could come as early as Monday - would bring the total amount given by the Biden administration to $8.8 billion (or 9 fired Ukrainian prosecutors, if one rounds up), since Russia invaded Ukraine on Feb. 24. The new package comes on the heels of a recent Pentagon decision to offer medical treatment to Ukrainians at a US military hospital in Germany near Ramstein air base. It also comes on the heels of a separate security assistance package worth up to $550 million which was announced by the Pentagon last Monday, which includes additional ammo for the High Mobility Artillery Rocket Systems (HIMARS). The new package would be funded under the Presidential Drawdown Authority (PDA), in which the president can authorize the transfer of articles and services from U.S. stocks without congressional approval in response to an emergency. HIMARS play a key role in the artillery duel between Ukraine and Russia has been described as "grinding" with very little movement of the front line in Ukraine's eastern Donbas region. Since Russian troops poured over the border in February in what Putin termed a "special military operation", the conflict has settled into a war of attrition fought primarily in the east and south of Ukraine. -Reuters The latest round of assistance (which comes two weeks after Ukraine's first-lady and Vogue magazine 'Portrait of Bravery' Olena Zeleska asked for more weapons) should come as no surprise... after all, Sen. Lindsey Graham (R-SC) recently said the quiet part out loud - revealing that as long as US taxpayer funded assistance flows into Ukraine in what he considers 'the right path,' they can 'fight to the last person.' Tyler Durden Fri, 08/05/2022 - 18:40.....»»

Category: worldSource: nytAug 5th, 2022

American Airlines cutting flights from fall schedule

American Airlines said it has taken steps to size its airline based on resources that are available, making adjustments to its September and October schedules. American Airlines has taken steps to reduce its overall September system capacity, including at Philadelphia International Airport.  The airline told FOX Business in an email on Friday that changes – based on available resources – were made to build an additional buffer into the remainder of its summer schedule and with the goal of moving customers to different flights.  It said that adjustments to its October schedule implemented last week were similar to others made in recent months. The airline said it would still offer customers the "largest network of any U.S. airline this fall" with an average of more than 5,400 peak daily departures. TRANSPORTATION DEPARTMENT AIMS TO 'STRENGTHEN' REFUND PROTECTIONS FOR AIR PASSENGERS The Philadelphia Business Journal reported earlier this week that more than 1,800 domestic American Airlines flights had been cut from the Philadelphia hub's September and October schedules, citing data from aviation analytics provider Cirium Inc.  The cut in flights at the airport, the outlet said, is the carrier's largest at any airport nationwide. American said that, at Philadelphia International Airport, its published flying was based on the 2019 flying schedule and not the "current demand environment."  Daily average departures, it said are consistent with flying throughout the last months, including 241 average daily departures in July, 228 in August, 213 in September and 224 in October. GET FOX BUSINESS ON THE GO BY CLICKING HERE While schedules are published more than 330 days out, adjustments are reportedly made closer based on customer demand. "Our operational performance from the fourth quarter and the results we have delivered in the first few weeks of July, give us confidence moving forward. But we still aren't where we need to be. And, we have a lot of flying ahead of us still in the summer. So, we're investing in our operation to ensure we meet our reliability goals and deliver for our customers," American Airlines CEO Robert Isom said during the company's most recent earnings call. "We're taking proactive steps to build additional buffer into our schedule for the rest of the year. As I said a minute ago, we're sizing the airline for the resources we've available and the operating conditions we face, and we'll make other changes as needed." CLICK HERE TO READ MORE ON FOX BUSINESS Customers whose flights may have been changed as a result of these adjustments will be contacted directly with alternate travel options.  Those whose needs are not met by the changes can seek a full refund......»»

Category: topSource: foxnewsAug 5th, 2022

Jenny Lee left JPMorgan"s table-topping leveraged-finance desk for a gig with Brigade Capital Management. The dealmaking veteran is taking the plunge into private credit as the market shifts.

Meet Jenny Lee, the managing director who just left JPMorgan's leveraged-finance desk after a nearly three-decade career with the bank. She moves to Brigade Capital where she will build its private-credit business. Jenny Lee, formerly a MD with JPMorgan, left the bank for Brigade Capital ManagementLinkedIn Insider's Banker of the Week series appears in our weekday newsletter, 10 Things on Wall Street. This week we're highlighting Jenny Lee, who just left her position as a managing director on JPMorgan's leveraged-finance desk to build a private-credit business for Brigade. Lee's decision comes as cashed-up direct lenders take market share from Wall Street banks that have long-dominated the leveraged-finance space. After almost three decades with JPMorgan, Jenny Lee vacated her role as the bank's co-head of leveraged capital markets late last month. She is joining alternative investment manager Brigade Capital Management in October to build the firm's private-credit business.Lee's decision comes as the capital markets nurses its way through a slump in dealmaking left hamstrung by volatile stock markets and a slowdown in economic growth. Big banks are also losing share in the leveraged-capital-markets business to private-credit funds, which have shown increased willingness to finance deals that banks typically underwrite and syndicate to investors through high-yield bonds or leveraged loans.A group of direct lenders led by Blackstone Credit, for example, will provide more than $4 billion in debt for Hellman & Friedman's and Permira's $10.2 billion takeover of software firm Zendesk announced in June. In May, a club of lenders including Blackstone, Oak Hill, Crescent Capital, and Blue Owl, provided almost $3 billion to support Carlyle's purchase of government contractor ManTech International, and that same month, a group led by Ares Management committed up to $2 billion in debt to back the sale of Nielsen to Elliot and Brookfield Asset Management.For Lee, the move is something of a leap of faith. She's leaving a top-tier bank with an established leveraged-finance platform to not just build on Brigade's private-credit arm, but to help fundraise and invest, or participate, in direct loans. That's everything from a direct loan to committing to a club deal with a group of direct lenders.Led by Donald Morgan, Brigade manages more than $30 billion in assets. But it's competing in a space dominated by larger firms like Owl Rock, Blackstone, and Ares, among others.Leaving behind a gargantuan balance sheet like JPMorgan for an asset manager that's competing with some of the globe's largest investors, Lee will have her work cut out for her.But as Insider has previously reported, Lee's peers in leveraged finance regard her as one of the most connected bankers on the Street, who is well-placed to grow a business amid a market downturn.After years of pressure to top league tables at JPMorgan, heading to Brigade is a new challenge for Lee, and one that comes as the capital markets moves away from years of low-cost capital and record-breaking transaction volumes.Rising interest rates have increased borrowing costs, and dealmaking is made all the more difficult amid a bout of economic uncertainty.But the rise of private credit means there is an opportunity for Lee to not just leverage her Rolodex of clients, but to take share from established Wall Street banks.Bloomberg first reported on Lee's departure from JPMorgan on July 27.The Banker of the Week series is featured in Insider's 10 Things on Wall Street — sign up here to get the newsletter each weekday morning.Read the original article on Business Insider.....»»

Category: worldSource: nytAug 5th, 2022

American is slashing thousands of flights this fall to minimize disruptions amid high demand and labor shortages

In September alone, American has slashed about 7,000 domestic flights from its network, with Philadelphia as the hardest-hit airport. American Airlines cancels 1,175 more flights for July and August.Getty Images American Airlines says it is slashing thousands of flights in September and October. The cuts equate to thousands of flights, many of which are out of Philadelphia International Airport. American told Insider that the changes are "proactive steps to add resiliency into our schedule." American Airlines is reducing its fall flying in an effort to minimize flight disruptions after a summer of travel chaos.On Thursday, Dallas-Fort Worth-based American said it is slashing thousands of flights in September and October, calling the reductions "proactive steps to add resiliency into our schedule" in an email to Insider.The company explained that the adjustments were made in cities with multiple frequencies "with the goal of moving customers to different flights."The worst hit airport will be Philadelphia International Airport, which is one of American's largest hubs. American explained that its original schedule was based on its 2019 flying schedule but "not the current demand environment."Specifically, the airline reduced its flight schedule in Philadelphia by 8.4% in September and 5.3% in October, American confirmed to Insider. The carrier will still fly 213 and 224 average daily departures each month, respectively, which is consistent with the 241 average daily departures from Philadelphia in July, and 228 average daily departures in August."The schedule changes made by American across its hub network, including PHL, are indicative of the current travel atmosphere for all airlines and the need to balance passenger demand with capacity and staffing," Kate Sullivan, the airport's deputy director of strategic partnerships, told the Business Journal.Despite the cuts, the carrier told Insider it will still offer an average of 5,400 daily departures across the nation, which is the largest network of any US carrier.The move comes as the summer travel season causes mass flight disruptions, which have been exacerbated by the pilot shortage, bad weather, post-pandemic demand, and staffing issues.Since May 1, American has canceled or delayed 81,525 flights, according to Flight Aware data. Moreover, the carrier recently grounded 100 regional jets because it does not have enough pilots to fly them and nixed several regional routes, like Philadelphia to Ithaca, New York, and Chicago to Toledo, Ohio."We're sizing the airline for the resources we've available and the operating conditions we face, and we'll make other changes as needed," American CEO Robert Isom said in the company's recent earnings call.American told Insider that it is working to move customers with existing reservations to alternate flights but will offer a refund "under our standard schedule change policy" if the new travel options are not doable.The news comes just a day after the US Department of Transportation proposed a new rule that would require airlines to compensate passengers for delays of three or more hours for domestic flights or six or more hours for international flights.The carrier is not the only airline to reduce its flying this year. United cut 12% of its flights at Newark Liberty International Airport in New Jersey to improve on-time performance. Meanwhile, Delta Air Lines said it slashed about 100 daily flights in July and August to prevent flight disruptions.Read the original article on Business Insider.....»»

Category: smallbizSource: nytAug 4th, 2022