18 Dec
2019

She taught the world to fly!

first_imgShe taught the world to fly but she had an extraordinary, almost uncaring birth. The man who wanted her couldn’t afford her, the man who built her was reluctant to build her and the men who first flew her on December 17th, 1935, didn’t bother to arrange a photographer to capture one of aviation’s greatest moments.See a stunning video of the Breitling DC-3 below.Legendary American Airlines’ President Cyrus Smith who wanted the DC-3 as a sleeper transport was in “a cold sweat, because he just didn’t have the money to pay for them,” according to Donald Douglas Sr., famed founder of Douglas Aircraft Company in a 1965 interview. Mr Smith spent $300 ($5,500 today) on a 2-hour telephone conversation with Mr Douglas trying to convince him to widening his existing – and very successful – 14-passenger DC-2. “I did not like it at all,” Mr Douglas recounted in the interview. “Why should I have liked it? I had plenty of DC-2s on order.” But Mr Smith was persuasive and ordered 20 of the larger DC-3s that would have 50 per cent more capacity than its smaller sibling, so Mr Douglas gave in. As Mr Smith did not have the money, he flew to Washington to successfully beg a colleague who ran President Franklin D. Roosevelt’s Reconstruction Finance Corporation for a $4.5 million loan. Eighty years on December 17th, 1935 Douglas Aircraft Company chief pilot and VP of Sales Carl Cover, accompanied by flight engineers Fred Stineman and Frank Collbohm, boarded X14988 at 2:15 pm local time, ran the engines up for about 30 minutes and taxied for take-off at Clover Field in Santa Monica, California. Mr Collbohm, who occupied the right seat, recalled 40 years later that “it was just a routine flight. I can’t separate it in my mind from any other test flights we made in those days.”Chief designer of the DC-3 Arthur Raymond, didn’t remember the event either: “When the plane was ready, I suppose Carl and the others simply got aboard and took off.” And take off the DC-3 did at 3 p.m. for a 1 hr. 40 min. flight, landing just as dusk was approaching. With it came nightfall for every other commercial aircraft flying. The DC-3 instantly redefined travel because it was the first plane that could make money just carrying passengers freeing airlines from government mail contracts and stops at tiny out of the way places. Now airlines could link bigger cities non-stop and slash travelling times.Within three years, 95 per cent of all passengers in the US were flying on DC-2s or DC-3s. Globally that number was 90 per cent.Movie stars, such as Shirley Temple, also played a big role helping sell the DC-2 and larger DC-3 and “flying on a Douglas” quickly became “the thing to do.” And as recently as 2008 the DC-3 was still in the movies helping James Bond out of one of his many tight spots. In the “Quantum of Solace,” Daniel Craig was in the cockpit of a DC-3 with the lines; “Let’s see if this thing will fly.” It did and some!And just as James Bond impresses with technological wizardry the DC-3 was a marvel for its day.Duplicate instrumentation for pilot and co-pilot as an added safety measure, new cockpit lighting for night flying, automatic hydraulically actuated retracting undercarriage, foot brakes and hydraulically operated wing flaps were all introduced on the DC-3.The impact of the DC-3 on the world’s economy was immense. Flying was now safe and economical. In the US, passenger fatality rates plummeted seven fold and in 1939 the “Scheduled Airlines of the United States” were awarded the prestigious Collier Trophy for flying 17 months without a single fatality.Owing to the safety record of the DC-3 insurers began offering flight insurance in 1937 for the first time to passengers and pilots while the practice of temporarily cancelling policies when passengers set foot on an aircraft was discontinued. Time magazine commented: “That insurance companies can now bet US$5,000 to two bits (25 cents) against a passenger being killed on a flight of some 800 miles is one of the best pieces of publicity which US airlines ever had.” And Mr Douglas would appear three times on the cover of Time in recognition of the DC-3 and his leadership and organisation of the US war effort in building 300,000 planes between 1940 and 1945.The amazing performance and economics of the DC-3 saw a 50 per cent decline in airfares by 1940 compared to when it entered service in 1936.During WW11 the DC-3, or Dakota or C-47 became the backbone of the allies transport armada with over 10,000 produced in the US. Most were built by women.During World War II, Douglas employed more women by percentage — 85 per cent — than any other defence company and the company’s peak workforce was 160,000.The women — nicknamed “Rosies” after one of the first women to work in a defence factory — turned out DC-3s, or Dakotas as they were better known in Australia, at the staggering rate of one every 34 minutes. Individually, they took three-and-a-half days to build.Thousands of DC-3s flooded the commercial market after WW11 and they helped restart the world’s economy. Today the DC-3 keeps on flying! Estimates have the global fleet at about 200.While many are only seen at air shows there are well over 100 still hauling freight and passengers. Cost? A good one goes for $500,000.And there is little doubt the DC-3 will keep on going and be still earning money when she reaches 100.last_img read more

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17 Dec
2019

Vanilla report day from USDA

first_imgShare Facebook Twitter Google + LinkedIn Pinterest No major changes. Boring. No big price spikes up or declines. This comment was heard following the report, “That has to be one of the most subdued post report actions I have seen in a long time.”USDA put US corn ending stocks for 2016-17 at 2.403 billion bushels, unchanged from last month. U.S. soybean ending stocks for 2016-2017 were 480 million bushels also unchanged from last month. U.S. wheat ending stocks were also unchanged at 1.143 billion bushels. U.S. soyoil ending stocks did decline as recent biofuel announcements suggest more soyoil being used.World ending stocks for corn, soybeans, and wheat did increase, no surprise there.Brazil corn production was increased three million tons while Argentina corn production was unchanged at 36.5 million tons. Nobody should be surprised with the Brazil corn production increase.Soybean production in Brazil was estimated at 102 million tons while Argentina soybean production was pegged at 57 million tons. Both are unchanged from November.Prior to the report corn was up 1 cent, soybeans were up six cents, wheat was down two cents. At 12:20 p.m. corn, soybeans, and wheat were all down one cent.Traders were expecting little changes to today’s USDA supply and demand report. This report is a demand report for U.S. grains. There will not be any changes to the 2016 corn and soybean production numbers. USDA will report the final 2016 corn and soybean production numbers on Jan. 12, 2017. That same day USDA will detail US grain stocks as of Dec. 1, 2016. Trade estimates prior to the report had corn and soybean ending stocks changing very little. Those estimates had U.S. corn ending stocks at 2.413 billion bushels, up just 10 million bushels from November. Corn ending stock estimates ranged from 2.364-2.584 billion bushels. Trader estimates had soybean ending stocks at 470 million bushels, down 10 million bushels from November. The soybean ending stocks had a trader estimate of 428-500 million bushels.Weather has once again emerged as a dominant market feature the last two weeks. Now South America weather is capturing lots of attention. Earlier in the week on Tuesday when soybeans were up double digit gains for the first half of the day, producers were active sellers of both old and new crop soybeans. Tuesday soybeans closed up just four cents while earlier in the day they had been up as much as 18 cents. Yesterday, soybeans were down 22 cents as ideas of normal rains for Argentina the next two weeks overshadowed current dry conditions in Argentina and the southern half of Brazil. Corn continues to struggle in a 30 cent trading range, having great difficulty to hold significant daily gains. Wheat is wheat as sellers continue to emerge on higher price activity.With U.S. production numbers not changing this month, we could see the market focus more attention on world grains stocks. Traders were expecting world corn stocks to increase from November. In addition, wheat has been seeing pressure this week due to larger production expected from Canada, Argentina, and Australia.Traders are expecting Brazil soybean production to come in at 102 million tons, up from last year’s 96.5 million tons. Argentina soybean production estimates were 57 million tons, last year they produced 56.8 million tons.One emerging trend we have observed the past few months is that when soybeans are trading higher at the 8:45 am pause, they often have great difficulty closing with those same gains at the 2:20 pm settlement. That trend is even more prevalent when the 8:45 am pause has soybeans up 10 cents or higher. Some would suggest it is a very different crowd that trades grains in the night session from 8:00 pm to 8:45 am compared to the trader activity in the day session from 9:30 am to 2:20 pm.The U.S. Climate Prediction Center forecasts that La Nina will likely remain in the Pacific deep into the winter, fading away by spring. Those conditions will likely bring colder and wetter conditions in the northern U.S. That walks side by side of forecasts all fall calling for a colder than normal winter in the northern U.S. Producers had fantastic weather for harvest activity with normal to above temperatures and below normal rainfall. Today central Ohio has bone chilling temperatures when you factor in the wind. We are seeing temperatures in the teens for lows. Daily highs are struggling to reach 30 degrees easily reminds us that winter is certainly here. Brrrr!Now that the U.S. Presidential election is behind us it is most exciting to see all of the outstanding business people being appointed to cabinet positions. Granted many of those positions will need to be approved by Congress. These appointments seem to be breaking the mold of career politicians holding cabinet positions.Look for the markets to focus on weather, export activity, and what the U.S. Fed does with interest rates later this month. South America weather will keep traders and producers watching with great intensity.It is December. Enjoy all of the Christmas activity with your families!last_img read more

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30 Nov
2019

Schooling slams critics after SEA Games golden double

first_imgMOST READ Read Next Brace for potentially devastating typhoon approaching PH – NDRRMC WATCH: Streetboys show off slick dance moves in Vhong Navarro’s wedding SEA Games in Calabarzon safe, secure – Solcom chief LOOK: Venues for 2019 SEA Games Catriona Gray spends Thanksgiving by preparing meals for people with illnesses UPLB exempted from SEA Games class suspension View comments LIST: Class, gov’t work suspensions during 30th SEA Gamescenter_img In the 100m freestyle, he was pushed all the way by Vietnam’s Hoang Quy Phuoc before winning in 48.93, outside the SEA Games record he set two years ago in Singapore.In the relay, he pulled away in the last leg to help Singapore to win by more than six seconds, but their time didn’t beat the tournament record they set in their home pool in 2015. SEA Games: PH’s Alisson Perticheto tops ice skating short program “They can say whatever they want,” Schooling shot back, when asked about the criticism of his performances which has been circulating online.“My goal is to come here and help the team as best as I can, win gold medals. That’s all I care about at this meet. You can’t always set best times, it’s fine. FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutout“It’s all about me trying to help the team as best as I can and me trying to win as many individual events as I can.”Schooling, who won 100m butterfly bronze at last month’s world championships, just a year after stunning Michael Phelps to claim the Olympic title, hasn’t tested his personal bests this week. LATEST STORIES Singapore’s Joseph Schooling reacts after winning the men’s swimming 100m freestyle final event of the 29th Southeast Asian Games (SEA Games) at the National Aquatics centre in Kuala Lumpur on August 24, 2017. / AFP PHOTO / MANAN VATSYAYANAOlympic butterfly champion Joseph Schooling rounded on critics who say he’s swimming too slowly after he grabbed his fourth and fifth gold medals of the Southeast Games on Thursday.Schooling said detractors could say what they liked as he won the 100m freestyle and anchored Singapore’s 4x200m freestyle relay victory to near his target of six gold medals in Kuala Lumpur.ADVERTISEMENT Home-grown sports here to stay, say SEA Games chiefs Don’t miss out on the latest news and information. PH billiards team upbeat about gold medal chances in SEA Games PLAY LIST 03:07PH billiards team upbeat about gold medal chances in SEA Games02:49World-class track facilities installed at NCC for SEA Games05:25PH boxing team determined to deliver gold medals for PH00:50Trending Articles01:35Panelo suggests discounted SEA Games tickets for students03:04Filipino athletes share their expectations for 2019 SEA Games00:45Onyok Velasco see bright future for PH boxing in Olympics02:25PH women’s volleyball team motivated to deliver in front of hometown crowd01:27Filipino athletes get grand send-off ahead of SEA Gameslast_img read more

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27 Oct
2019

In Photos: Everything You Need To Know About Jen Lada, ESPN’s New Colin Cowherd Show Contributor

first_imgJen Lada speaking on ESPN.This summer, there will be a new face (and voice) on Colin Cowherd’s radio show on ESPN – Jen Lada. Lada, who is leaving Comcast Sports Net in Chicago to take the new gig, will be featured as a regular contributor on the show. There are also rumors that she’ll be featured on SportsCenter and a number of other programs on the network. Lada, now 34 years old, announced that she’d be leaving Comcast Sports Net in June, and she’s set to start at the Worldwide Leader in August.Thank you @CSNChicago for taking a chance on me, for trusting me to represent you well & for teaching me every day. pic.twitter.com/DSkk9FJzfa— Jen Lada (@JenLada) June 26, 2015How did she get her career started? Where is she from? And is she single? We’ve got those answers and more, along with a few photos of the rising star.In Photos: Everything You Need To Know About Jen Lada >>>Pages: Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7last_img read more

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14 Oct
2019

Ottawa expected to announce new transition rules for assessing pipelines Wednesday

first_imgThe Canadian PressOTTAWA – The Liberal government is poised to announce new rules today for assessing major resource projects such as oil pipelines. A technical briefing is being scheduled for news media before Natural Resources Minister Jim Carr announces the new process this afternoon. Liberals say the new rules will cover a transition period that will include existing pipeline applications already in the works. Those includes Kinder Morgan’s proposed twinning of the TransMountain pipeline in British Columbia and TransCanada’s massive $15.7-billion Energy East project that would take Alberta and Saskatchewan crude to New Brunswick refineries and seaports for export. The new environmental assessment process appears likely to require pipeline companies to report greenhouse gas emissions associated with their project, including what are known as “upstream” emissions produced during the production of the oil or gas carried by the pipeline. “If major energy projects have the confidence of Canadians, I think it will be good news for the Canadian economy,” Carr said on his way into a Liberal caucus meeting. Carr said he’s consulted industry leaders, Indigenous leaders, environmental groups, union and community leaders to set up the transition process. “People want to know that the process is up and running and fair.” Pipeline politics have dominated the return of Parliament this week amid deep regional acrimony. The premiers of Alberta and Saskatchewan expressed dismay after a group of Montreal-area municipal leaders publicly announced their opposition last week to the proposed Energy East route through their territory. Saskatchewan Premier Brad wall questioned whether Quebeckers should continue to expect billions in equalization payments if they won’t support the export of resources that help drive those government revenues. Environmental groups, meanwhile, say any new pipeline approval by the Trudeau government would undermine the Liberals’ commitment to reducing greenhouse gas emissions. A coalition of 74 North American groups issued a release today calling for Canada to put in place policy measures to help limit global warming to 1.5 degrees Celsius above pre-industrial levels, as agreed at the Paris climate summit in December. “There is simply no room for major new pipelines in a safe climate future,” Steven Guilbeault of Equiterre said in the release. “The science is demanding we keep the carbon in the ground and start the transition.” Provincial environment ministers begin two days of talks Thursday in Ottawa with their federal counterpart Catherine McKenna in advance of a full-blown first minister’s conference that is supposed to establish a national climate policy, including putting a price on carbon. The announcement of a new transition policy for environmental assessments comes a day after a federal audit was released that showed the National Energy Board has failed to follow up on almost half of all conditions set for past pipeline approvals.last_img read more

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14 Oct
2019

White Bear First Nation has a new water system supplying community with

first_imgLarissa Burnouf APTN National NewsIn September, APTN National News brought you the story of the water crisis in the small southern Saskatchewan community of White Bear First Nation.The water in the community has been undrinkable for more than a decade.Since APTN’s report, things have changed.lburnouf@aptn.calast_img

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13 Oct
2019

Trump defends tax plan proclaims economy set to rock

first_imgWASHINGTON – Closing in on the first major legislative achievement of his term, President Donald Trump on Saturday defended the Republican tax cut as a good deal for the middle class while boldly suggesting it could lead to explosive economic growth.The legislation, which the GOP aims to muscle through Congress next week, would lower taxes on the richest Americans. Benefits for most other taxpayers would be smaller, but Trump attempted to sell the bill as a “Christmas present” for middle-class Americans in part because it would trigger job growth.“It’ll be fantastic for the middle-income people and for jobs, most of all,” Trump told reporters on the White House lawn before travelling to Camp David for the weekend. “And I will say that because of what we’ve done with regulation and other things our economy is doing fantastically well, but it has another big step to go and it can’t take that step unless we do the tax bill.”No stranger to hyperbole, Trump also predicted the legislation would cause the economy to soar beyond its current 3 per cent rate of growth.“I think we could go to 4, 5 or even 6 per cent, ultimately,” the president said. “We are back. We are really going to start to rock.”Many economists believe that attaining consistent 4 or 5 per cent annual growth would be challenging. The nation last topped 5 per cent growth in 1984.The Republican plan is the widest-ranging reshaping of the tax code in three decades and is expected to add to the nation’s $20 trillion debt. The tax cuts are projected to add $1.46 trillion over a decade.Under the bill, today’s 35 per cent rate on corporations would fall to 21 per cent, the crown jewel of the measure for many Republicans. Trump and GOP leaders had set 20 per cent as their goal but added a point to free money for other tax cuts that won over wavering lawmakers in final talks.“This is happening. Tax reform under Republican control of Washington is happening,” House Speaker Paul Ryan of Wisconsin told rank-and-file members in a conference call Friday. “Most critics out there didn’t think it could happen. … And now we’re on the doorstep of something truly historic.”The bill would repeal an important part of President Barack Obama’s Affordable Care Act — the requirement that all Americans have health insurance or face a penalty — as the GOP looks to unravel a law it failed to repeal and replace this past summer. It came together as Republicans cemented the needed support for the overhaul, securing endorsements from wavering senators.Marco Rubio of Florida relented in his high-profile opposition after negotiators expanded the tax credit that parents can claim for their children. He said he would vote for the measure next week.Sen. Bob Corker of Tennessee, the only Republican to vote against the Senate version earlier this month, made the surprise announcement that he would back the legislation. Corker, the chairman of the Senate Foreign Relations Committee, has repeatedly warned that the nation’s growing debt is the most serious threat to national security.“I realize this is a bet on our country’s enterprising spirit, and that is a bet I am willing to make,” Corker said.The bill embodies a long-standing Republican philosophy that a substantial tax break for businesses will trigger economic growth and job creation for Americans in a trickle-down economy. Skeptical Democrats are likely to oppose the legislation unanimously.“Under this bill, the working class, middle class and upper middle class get skewered while the rich and wealthy corporations make out like bandits,” said Senate Minority Leader Chuck Schumer of New York. “It is just the opposite of what America needs, and Republicans will rue the day they pass this.”The bill would drop today’s 39.6 per cent top rate on individuals to 37 per cent. The standard deduction — used by around two-thirds of households — would be nearly doubled, to $24,000 for married couples.The $1,000-per-child tax deduction would grow to $2,000, with up to $1,400 available in IRS refunds for families who owe little or no taxes. Parents would have to provide children’s Social Security numbers to receive the child tax credit, a measure intended to deny the credit to people who are in the U.S. illegally.Those who itemize would lose some deductions. The deduction that millions use in connection with state and local income, property and sales taxes would be capped at $10,000. That’s especially important to residents of high-tax states such as New York, New Jersey and California. Deductions for medical expenses that lawmakers once considered eliminating would be retained.The bill would allow homeowners to deduct interest only on the first $750,000 of a new mortgage, down from the current limit of $1 million.People who inherit fortunes would get a big break. The bill would double the exemption, meaning the estate tax would apply only to the portion of an estate over $22 million for married couples.Members of a House-Senate conference committee signed the final version of the legislation Friday, sending it to the two chambers for final passage next week.Republicans hold a slim 52-48 majority in the Senate, and two ailing GOP senators missed votes this past week.John McCain of Arizona, who is 81, is at a Washington-area military hospital being treated for the side effects of brain cancer treatment, and 80-year-old Thad Cochran of Mississippi had a non-melanoma lesion removed from his nose earlier this week. GOP leaders are hopeful they will be available next week.___Associated Press writer Marcy Gordon contributed to this report.___Follow Lemire on Twitter at http://twitter.com/@JonLemire and Ohlemacher? at http://twitter.com/@stephenataplast_img read more

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13 Oct
2019

Alberta monitors makes contingency plans on road clearing in UK firm bankruptcy

first_imgEDMONTON – Alberta’s transportation minister says they are making contingency plans to clear and maintain roads as they monitor the financial fallout of a multinational United Kingdom construction company.Brian Mason says for now they believe the bankruptcy of Carillion PLC won’t affect the operations of its Canadian subsidiary.Carillion Canada maintains more than 40 per cent of Alberta’s highways.It also has operations in Ontario, including the renovations of Toronto’s Union Station.Mason said the province privatized road maintenance services under the previous Progressive Conservative government.He says the government is reviewing road maintenance, but said for now there’s no plan to move away from the privatized model.“We’ve certainly looked at the various options (but) I don’t think that that’s a direction that we’re going to be going right now,” Mason said Tuesday.A spokesman for Carillion Canada has said it’s business as usual in Canada despite the parent company’s collapse on Monday. Cody Johnstone said Carillion Canada is not in liquidation and its 6,000 employees in Canada continue to be paid, along with its subcontractors and suppliers.The British construction giant went into compulsory liquidation after weekend talks with creditors failed to get the short-term financing it needed to continue operating.last_img read more

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13 Oct
2019

Casino mogul Steve Wynn resigns as top GOP finance chairman

first_imgWASHINGTON – Casino mogul Steve Wynn resigned Saturday as finance chairman of the Republican National Committee amid allegations of sexual harassment and assault.Wynn has been a prolific Republican donor and led the RNC’s fundraising efforts during President Donald Trump’s first year, helping the committee rake in more than $130 million.“Today I accepted Steve Wynn’s resignation as Republican National Committee finance chair,” said RNC chairwoman Ronna McDaniel.The Wall Street Journal reported Friday that a number of women said they were harassed or assaulted by Wynn, the chairman and CEO of Wynn Resorts. Wynn has denied the allegations. One case led to a $7.5 million settlement with a manicurist, the newspaper reported.Wynn confirmed his resignation in a statement released Saturday. “The unbelievable success we have achieved must continue. The work we are doing to make America a better place is too important to be impaired by this distraction,” Wynn said.Wynn was chosen by Trump to lead the RNC’s fundraising effort, and he contributed more than $600,000 to GOP causes last year, according to the Federal Election Commission.A person with direct knowledge of the situation said Trump had signed off on the decision for Wynn to resign. The person was not authorized to share private discussions and spoke to The Associated Press on condition of anonymity.Since 2013, Wynn has contributed nearly $2.4 million to GOP candidates and party organizations around the country, including 2017 special election winners as well as dozens of state Republican Party committees.The allegations against Wynn have come during a wave of sexual misconduct claims against prominent media, entertainment and political figures that gained momentum last fall after the emergence of detailed allegations of rape and harassment involving movie producer Harvey Weinstein.During the fall, RNC officials, including McDaniel, noted that Weinstein had been a top donor for Democrats, including 2016 presidential nominee Hillary Clinton.In early October, McDaniel tweeted that if the Democratic National Committee “truly stands up for women like they say they do, then returning Weinstein’s dirty money should be a no-brainer.”The RNC has not yet said whether it will return any money donated by Wynn.Wynn was among the organizers of Trump’s fundraiser last week at the president’s Mar-a-Lago resort in Florida to celebrate the anniversary of the inauguration. Trump was unable to attend because of the federal government shutdown. Wynn also helped put together high-dollar events in Dallas last October and New York City in December.Trump, addressing Nevada supporters in February 2016, praised Wynn as a “great friend of mine.”“Steve is always calling. He’s always got advice. Right, Steve? ‘Donald, I think you ought to do this and that,’” Trump said at the time. “His advice, I like to listen to, I’ll be honest with you.”Members of the Republican National Committee are gathering in Washington next week and are expected to approve a new finance chair. The next chair will be voted on after the recommendation of Trump and McDaniel.___On Twitter follow Ken Thomas at @KThomasDC and Steve Peoples at @sppeoples.last_img read more

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