By David B. McLennan – These ads matter — but not in the ways that the candidates and their campaign consultants hope they do. When the negative barrage of ads is over, the winner will likely emerge with an approval rating well under 50 percent.
Majority of winning candidates take office without the majority support of the citizens they represent. They can no longer legitimately cite the “will of the people” in proposing legislation — because they are not in a position of strength when it comes to public support. Elected officials now often have little or no honeymoon period – even with the voters who supported them. more> http://tinyurl.com/l6vox44
Posted in Business, CONGRESS WATCH, Economic development, Economy, Education, History, Leadership, Media, Regulations
Tagged Business, Congress Watch, Government, Industrial economy, Leadership, Organization, Politics, United States
A Short Flight for a Jet, A Giant Leap for a Jet Engine
GE – Over the last several weeks, crews at GE Aviation’s flight test base in Victorville, CA, at the edge of the Mojave Desert, installed a next-generation jet engine with ceramic components and 3-D printed parts to the wing of a modified Boeing 747, and readied it for its maiden flight.
The engine, called LEAP, successfully took to the skies on Monday (Oct 6).
There are three versions of the jet engine: the LEAP-1A for the new Airbus 320neo passenger jets, the LEAP-1B for Boeing’s 737MAX aircraft, and the LEAP-1C for China’s COMAC C919 planes.
The LEAP is the bestselling family of jet engines in GE history. CFM has received more than $100 billion in orders (U.S. list price) from airlines like United, Air Asia, American Airlines and easyJet. They will use them on single-aisle aircraft, the fastest growing market in commercial aviation. more> http://tinyurl.com/qzqsbqj
Posted in Business, Economy, Energy & emissions, Science, Technology, Transportation
Tagged Aviation, Business, Efficiency, GE, Jet engine, LEAP, Technology
By Ben Protess and Jessica Silver-Greenberg – With evidence mounting that a number of foreign and American banks colluded to alter the price of foreign currencies, the largest and least regulated financial market, prosecutors are aiming to file charges against at least one bank by the end of the year.
Yet the breadth of the suspected wrongdoing in the currency inquiry — Deutsche Bank, Citigroup, JPMorgan Chase, Barclays and UBS are among the dozen or so banks under investigation — might distinguish it from the piecemeal nature of the crisis-era investigations. more> http://tinyurl.com/msouwc6
Posted in Banking, Business, Economic development, Economy, Education, Leadership, Media, Regulations
Tagged Banking reform, Business, Capital, Financial crisis, Government, Industrial economy, Leadership, Organization, Regulations, United States
Wealth of Nations, Author: Adam Smith.
Money, Gold, and History, Author: Lewis E. Lehrman.
The Economic Consequences of the Peace, Author: John Maynard Keynes.
By Ralph Benko – The mechanics of the reserve currency system preempt these funds’ ready availability for “the maintenance of industry.”
The mechanics of the dollar as a reserve asset, therefore, finance bigger government while insidiously preempting productivity, jobs, and equitable prosperity.
As Steve Forbes pithily puts it, “You’ve got to get the money right.”
Time to lift the reserve currency curse. Time to fix the dollar. more> http://tinyurl.com/men5vk7
Posted in Banking, Book review, Economy, Education, Leadership, Media, Regulations
Tagged Business, Capital, Currency, Dollar, Financial crisis, Government, Monetary policy, Regulations, United States
By Barry Ritholtz – Assets purchased with cheap and widely available credit become worth significantly less once the bubble bursts. But the debt remains.
All of that leverage used to purchase all of those assets — regardless of whether it’s subprime mortgages or dot-com stocks — sticks around.
Hence, a post-credit-crisis recovery is dominated not by the release of pent-up demand, but by massive corporate, household and government deleveraging. more> http://tinyurl.com/pryw54s
Posted in Banking, Business, Economic development, Economy, Education, History, Regulations
Tagged Banking reform, Business, Capital, Credit, Financial crisis, Industrial economy, Regulations, United States
By Stephen Mihm – In the mid-19th century, most Ivy League presidents hailed from the ranks of the Protestant clergy: affable theologians with considerable academic training and limited knowledge of financial matters.
Enter Charles W. Eliot , Harvard’s 21st president. When he took over in 1869, it was a sleepy little college. By the time he left in 1909, he had bequeathed an educational powerhouse that had established an almost insurmountable lead in the race to become the world’s richest university. more> http://tinyurl.com/q6o4k28
Posted in Business, Economic development, Economy, Education, History, Leadership, Regulations
Tagged Business, Capital, Industrial economy, Ivy League, Leadership, Organization, Regulations, United States