Could Toyota ad promote fraud?
Read about it.
|
|
|
|
Biz Waves is a one-stop Web hub for business news and content from the South Bay region of Los Angeles County and beyond.
The primary contributor is:
Muhammed El-Hasan, a business reporter at the Daily Breeze since 2000, covers aerospace and everything else about business in the South Bay. Muhammed previously reported at the San Bernardino Sun and the community news division of The Orange County Register. He also worked as a researcher in the Jerusalem bureau of the Los Angeles Times in 1996-97. But his career highlight as a young man was driving a forklift at a Gardena company near Hawthorne, where he grew up.
You can email Muhammed at dailybreeze.com
« November 2007 | Main | January 2008 »
Read about it.
Read about it.
Are you sitting it out like the rest of us. Read on.
A great read.
Read about it in Sunday's paper.
Video game pioneer Atari Inc.'s shares hit a record low on Friday after Nasdaq warned it may delist the company because of its falling stock price.
Shares of the company that created "Pong" in 1972 declined 14 cents, or 9.7 percent, to $1.30 in afternoon trading. The stock price is down more than 75 percent this year.
El Segundo-based Computer Sciences Corp. said Friday it received a contract for up to $613 million to manage voice services for the Department of Defense.
The contract extension has a two-year base period and three one-year options. It was initially awarded in June 1999.
Computer Sciences will continue to design, engineer, operate and manage voice services for the Defense Switched Network; secure voice services of the Defense Red Switch Network; and network management systems for both systems.
Computer Sciences shares rose 51 cents to $50.12 in pre-market trading after closing at $49.61 on Thursday.
I'm wondering what business news outraged you most in the past year. Please let me know. Maybe we can post it.
Honda Motor Co. President Takeo Fukui said the Japanese car maker may start mass-producing fuel cell vehicles within 10 years, thereby emphasizing the firm's intention to focus on fuel cells instead of gas-electric hybrids.
In 2008, Honda plans to release its FCX Clarity fuel cell vehicle on a lease basis in Japan and the US. Honda launched its first fuel cell vehicle, the FCX, in 2002.
Toyota Plans to Sell 9.85M Vehicles next year. Can Toyota do it?
Read on.
By Yuri Kageyama, AP Business Writer
NAGOYA, Japan (AP) -- Toyota plans to sell 9.85 million vehicles worldwide in 2008, the company said Tuesday, setting an ambitious target despite worries about a slowing U.S. car market, as it tries to become the world's top automaker.
Toyota also said it plans to produce 9.95 million vehicles worldwide next year, up 5 percent from this year -- the same as the projected annual percentage jump for Toyota's global sales.
Its recent growth has put Toyota Motor Corp. on track to beat U.S.-based General Motors to become the world's largest automaker by sales. GM has said it estimates this year's sales to total 9.3 million vehicles, against Toyota's estimate of 9.36 million sales.
Toyota's growth been based in large part on the popularity of models such as the Camry sedan, Corolla subcompact and the Prius gas-electric hybrid.
Soaring gas prices have dramatically boosted the appeal of smaller fuel-efficient models that are Toyota's main strength.
General Motors has been fiercely fighting back, boosting its overseas business and could still keep the top industry spot, which it has held for 76 years.
GM has not given a forecast for the number of vehicles it expects to produce or sell in 2008. The Detroit automaker has the industry record for annual global vehicle sales, with the 9.55 million vehicles sold by GM in 1978.
Toyota executives acknowledged Tuesday worries about the U.S. market, which has been hit by the subprime mortgage crisis and soaring oil prices. But they nonetheless projected increasing U.S. sales by 1 percent to 2.64 million vehicles.
They were also bullish about prospects for emerging markets such as China, Russia and South America, while being conservative expectations for Europe, at a 2 percent increase to 1.27 million vehicles, and seeing sales in Japan remain flat at 1.6 million next year.
But Koji Endo, auto analyst with Credit Suisse in Tokyo, said next year will likely prove a challenge even for Toyota, as U.S. economic woes weigh on sales and profits.
But he said the overall optimism for sales growth was "reasonable," given Toyota's recent performance.
"These are targets Toyota is giving, not forecasts, and so they are reasonable," he said.
After the first nine months of this year, Toyota was -- at 7.05 million vehicles sold worldwide -- trailing GM's sales of 7.06 million vehicles for the same period. The final tally for this year's numbers won't be out until January next year.
GM's spokesman in Tokyo, Michihiro Yamamori, declined to comment, citing company policy to refrain from commenting on its rivals' targets.
Toyota also said it was preparing to start mass producing lithium-ion batteries for low-emission vehicles.
Lithium-ion batteries, already widely used in laptops and other gadgets, are smaller yet more powerful than the nickel-metal hydride batteries used in gas-electric hybrids like the Prius now.
Lithium-ion batteries will not be used in the Prius, on sale for a decade and the most popular hybrid on the market, according to Toyota.
The lithium-ion battery will be used in a plug-in hybrid, which would recharge from a regular home socket, and travel longer as an electric vehicle than the Prius. Toyota has started tests on its plug-in hybrid, but has not shown a model using the new battery.
Executive Vice President Masatami Takimoto, who oversees technology, said Toyota had developed the lithium-ion battery to a level that it is almost ready for mass production, although that won't start until sometime after next year.
Toyota President Katsuaki Watanabe said the hybrid will be a pillar of Toyota's growth in the years ahead, and he reiterated the plan to offer hybrid versions of all its models sometime after 2020.
As part of its strategy to be ecological and super-efficient in manufacturing -- as well as with its products -- Toyota will use solar energy and wind power to reduce global-warming emissions at what it called five "sustainable plants." The facility being built in Mississippi, set to be up and running in 2010, will be one such plant, Toyota said.
Boeing may be on a roll with its last two satellite contracts. Will this lead to the much bigger TSAT contract? Find out on Christmas day in the business section.
Did anyone catch the story on Boeing's Connexion?
Click below to check it out.
In-Flight Net Providers: Lessons Learned
By ANICK JESDANUN
NEW YORK (AP) — Airlines and service providers seeking to deliver high-speed Internet services to passengers say they've learned from Boeing Co.'s 2006 decision to pull the plug on its ambitions to outfit its planes with a similar service.
Analysts say Boeing's failed Connexion online service was costly to install and operate, resulting in large expenditures before getting a single paying customer. An industrywide downturn triggered by the 2001 terrorist attacks made the system an even tougher sell to struggling airlines.
Among other things, JetBlue Airways Corp., AMR Corp.'s American Airlines and Virgin America are today turning to air-to-ground connections to avoid Boeing's expensive satellite fees.
"We wanted to attack every one of the things that were inhibitors in that first-generation system," said Jack Blumenstein, chief executive of Aircell LLC, which is providing service for American and Virgin.
JetBlue's LiveTV subsidiary paid the Federal Communications Commission $7 million for wireless spectrum that one test JetBlue aircraft has been using since Dec. 11 to communicate with about 100 cell towers spread across the continental United States.
The 1-megahertz frequency band allows that aircraft to offer free e-mail and instant-messaging services on laptops and handheld devices through Yahoo Inc. and BlackBerry maker Research In Motion Ltd.
Aircell licensed a band three times the size of LiveTV's for $31 million and plans to offer broader Internet services, including Web surfing, for about $10 a flight — what Boeing had charged for the first hour. Pending regulatory approval, Aircell's first Internet-capable flight is expected on American in 2008, using 92 cell towers on the ground.
The air-to-ground approach has its limits, though. It's useless for many international flights because of long stretches over oceans. And it hasn't been approved outside North America.
That is why Alaska Air Group Inc.'s Alaska Airlines, which has over-the-ocean flights to Alaska and Hawaii, is going with a satellite-based system through Row 44 Inc. Row 44 is using an existing satellite network from Hughes Communications Inc. rather than trying to assemble its own as Boeing had.
Panasonic Avionics Corp., a unit of Matsushita Electric Industrial Co., took a similar approach in developing a service for Australia's Qantas Airways Ltd. and other airlines.
"The service itself is about three times more bandwidth efficient than Connexion was," said David Bruner, Panasonic's executive director for corporate sales and marketing.
Think of it this way: Boeing leased satellite transponders from various providers whether it needed the capacity or not. Under its deal with Intelsat Ltd., Panasonic can buy capacity in smaller units until it needs more.
Technology also has improved such that airplanes using Row 44's or Panasonic's systems don't need to carry as much weight as Boeing required, saving fuel costs.
Panasonic plans to charge about $12 an hour or $22 per 24-hour period for its service, compared with Boeing's $10 for the first hour or $27 for the full day. Alaska hasn't set prices, and free service for frequent fliers was among its options.
OnAir, which recently started service on one Air France aircraft, is taking yet another approach in delivering in-flight services: It is using existing cellular phone systems, including their technical and billing infrastructure.
With an on-board GSM cell "tower" certified by European regulators, phones won't emit strong signals and potentially interfere with the aircraft's navigational equipment trying to connect with a tower on the ground.
Boeing had deals with major international carriers such as Germany's Lufthansa AG and Japan Airlines Corp., but large U.S. carriers — several of which filed for bankruptcy in the aftermath of Sept. 11 — balked at investing in extra services.
Boeing, which did not disclose how much it invested in the service, took a pretax accounting charge of $320 million in 2006.
Glenn Fleishman, editor of the Wi-Fi Networking News site, said Connexion's failure resulted from Boeing's specific approach and "doesn't reflect the viability of (in-flight services) from a financial or technical perspective."
He said the new approaches look promising, though they may run into their own issues with scalability or coverage.
Boeing spokesman John Dern said the aircraft maker had no plans to re-enter the business and was leaving such services to others.
"There are others out there with different business models, and I don't know anyone who's mounted a successful standalone business yet," Dern said. "No doubt there will be firms that try, and I'm sure somebody will figure out a way to do it."
I'm curious whether people think The Healthy Bean is a good concept or a non-starter.
In case you haven't read the article, here's the link.
Have you seen it? The Healthy Bean Coffee? On the southwest corner of Hawthorne and Lomita boulevards?
A lot of people are wondering what it's all about. Find out Sunday in the Daily Breeze business section.
Boeing received an Air Force order to build a sixth Wideband Global SATCOM (WGS) satellite. The work will be done at Boeing's El Segundo-based Satellite Development Center
The satellite is expected to launch in the fourth quarter of 2012. Australia is funding the procurement as part of its contribution to the WGS constellation, in which it's participating.
"A sixth WGS satellite adds to the system's overall capacity and flexibility and will benefit both U.S. armed forces and our allies," said Howard Chambers, vice president and general manager of Boeing Space and Intelligence Systems.
Read the release.
Boeing to Build a Sixth Wideband Global SATCOM Satellite
ST. LOUIS, Dec. 21, 2007 -- The Boeing Company [NYSE: BA] today announced that the U.S. Air Force has exercised an option for a sixth Wideband Global SATCOM (WGS) satellite and has authorized Boeing to begin construction. The Commonwealth of Australia is funding the procurement as part of a cooperative agreement between the U.S. and Australian governments. The satellite is expected to launch in the fourth quarter of 2012.
"This is a unique, win-win arrangement between the Australian and U.S. governments, and Boeing is honored to support it," said Howard Chambers, vice president and general manager of Boeing Space and Intelligence Systems. "A sixth WGS satellite adds to the system's overall capacity and flexibility and will benefit both U.S. armed forces and our allies."
A memorandum of understanding signed by both governments on Nov. 14 adds Australian Defence Force access to WGS services worldwide in exchange for funding the constellation's sixth satellite. The advance procurement contract enables Boeing to obtain long-lead materials for the satellite. The six WGS satellites are valued at US$1.8 billion, which includes associated ground-based payload command and control systems, mission unique software and databases, satellite simulators, logistics support and operator training. Boeing also performs final satellite processing and preparations for launch, as well as initial orbital operations and on-orbit testing.
"The WGS program office is very excited about this new partnership," said Col. Donald W. Robbins, U.S. Air Force commander, Wideband SATCOM Group. "We look forward to fielding the sixth WGS satellite."
The sixth WGS satellite, a Block II version, will carry the radio frequency (RF) bypass capability designed to support airborne intelligence, surveillance and reconnaissance platforms requiring additional bandwidth. The RF bypass supports data rates of up to 311 Megabits per second, more than 200 times faster than most cable or DSL connections. Boeing will design and manufacture the 702 model spacecraft at its satellite factory in El Segundo, Calif.
A United Launch Alliance Atlas V rocket successfully launched the first WGS satellite Oct. 10 from Cape Canaveral Air Force Base, Fla. It is now in geosynchronous orbit undergoing rigorous testing and is expected to begin service in the first quarter of 2008.
Tycoon Sam Zell yesterday took Tribune Co., owner of the LA Times, private. Zell says he plans to give the Tribune papers more local control.
Any thoughts on this?
WASHINGTON - NASA awarded a contract to Boeing's El Segundo satellite facility for two satellites that will replenish the NASA communication relay network that provides telecommunications links between low Earth orbiting spacecraft and the ground.
Read the article.
The Toyota USA Foundation has more than doubled the size of its endowment to $100 million. the fondation supports k-12 math and science teaching in the US.
Read the release.
NEW YORK, Dec. 20, 2007 -- The Toyota USA Foundation today announced that it has more than doubled the size of its endowment, from $42 million to $100 million. In 2007, the Foundation gave over $4 million to enhance K-12 math and science teaching throughout the United States.
"This was a year of important milestones for Toyota in America with both the 50th anniversary of sales in the U.S. and the 20th year of the Toyota USA Foundation," said Patricia Salas Pineda, group vice president of Toyota Motor North America. "The Foundation has provided over $22 million in grants to nearly 200 organizations since its inception, and we are excited to increase our giving by raising the endowment to $100 million."
The Toyota USA Foundation supports quality K-12 programs that improve the teaching and learning of mathematics, science, and environmental education. The foundation places a high priority on:
* Diverse programs that are broad in scope, incorporate
inter-disciplinary learning, and use "real-world" classroom
applications; and
* Innovative and cost-effective programs which develop students and
teachers' abilities.
Toyota USA Foundation Second-Half 2007 Grants:
Organization Program Description Grant
Biotech Partners Science for Provides four semesters $200,000
Berkeley, CA Life of hands-on bioscience over two
class work and an years
eight-week paid
internship that helps
prepare under-represented
youth to enter the biotech
workforce or a community
or four-year college.
Colorado River River Three-year program for 6th $100,000
Foundation Stewards - 8th grade students that over two
Austin, TX uses field-based learning years
to enhance science
performance and
environmental stewardship.
Paired with classroom
curriculum, field activities
include study of animal
adaptations, renewable
energy production,
water quality and
pollution analysis.
Four Corners Learning K-8th grade program $400,000
School of Progressions promotes conceptual over two
Outdoor Education - The Living understanding and years
Monticello, UT Environment increases student
interest in the sciences.
Eighty teachers and
2,000 students, 50
percent of which are
Native American, in
20 rural elementary
and middle schools
in four states, will
participate in education,
service, adventure and
conservation programs.
James Madison Summer Acquaints teachers with $255,365
University Institute up-to-date developments over
Harrisonburg, VA For Regional in physics as well as three
Physics And new and improved years
Physical pedagogical technique.
Science Also included is funding
Teachers for a teacher-in-residence
to manage the program.
The National AquaPartners A systemic, $464,381
Aquarium interdisciplinary science over
Baltimore, MD program for 1,500 4th and three
5th grade students and years
their teachers that
integrates biological,
marine and environmental
sciences into the
curriculum, in the
classroom, in the field
and at the Aquarium.
University of High School A joint project of $200,000
Michigan Beginning UM-Dearborn's Center for
Ann Arbor, MI Algebra Mathematics Education
Academy and the Wayne County
Regional Educational
Services Agency to improve
math understanding and
instruction among high
school teachers in
Wayne County.
University of Online Development of a $540,345
Nebraska Masters collaborative over
Lincoln, NE Degree in interdisciplinary four
Applied online master's degree years
Science program for K-12th grade
science teachers across
the country. Teachers
will have the opportunity
to improve their own
science knowledge while
also learning effective
science teaching methods
to apply in their
classrooms.
University of Mission: Launch a mentoring program $225,000
Southern Engineering to prepare and encourage over
California promising high school three
Los Angeles, CA students to pursue years
undergraduate
engineering degrees.
The students will be
introduced to the
scientific method,
problem-solving and
teamwork through seminars
and a two-week summer camp.
Virginia Tech One Mission Development of a core $243,870
Blacksburg, VA of K-12th grade standards
from each of the STEM
(Science, Technology,
Engineering and Math)
disciplines integrated
through the theme of
exploration, particularly
of space and ocean systems.
Read about how Toyota had the motor industry in a tizz this week.
AP - El Segundo-based Computer Sciences Corp. on Thursday issued delayed results for the first two quarters of the fiscal year, showing sales rose nearly 10 percent over the six-month period.
The information technology service provider company previously delayed its results while it reviewed prior tax payments because it had found "significant errors" in accounting for software license sales.
For the fiscal first quarter ended June 29, the company reported net income of $108.1 million, or 61 cents per share, versus a restated loss of $59.9 million, or 32 cents per share, during the same period a year earlier.
The fiscal 2008 quarter included $33.4 million, or 19 cents per share, of special charges for restructuring and executive retirement costs.
Analysts polled by Thomson Financial expected first-quarter earnings of 70 cents per share, on average. Analyst forecasts typically exclude one-time adjustments.
Revenue for the first quarter rose to $3.84 billion from $3.56 billion a year earlier. Analysts predicted revenue of $3.74 billion, according to Thomson.
For the second quarter ended Sept. 28, the company reported net income of $75.8 million, or 43 cents per share, compared with restated earnings of $89.5 million, or 51 cents per share, during the same period a year earlier. Revenue increased to $4.02 billion from $3.61 billion.
Analysts forecast second-quarter profit of 86 cents per share on revenue of $3.93 billion, according to Thomson.
CSC said it plans to file an amended annual report with restated earnings for fiscal 2007 as soon as practical. Accounting errors for fiscal 1995 through 2007 resulted in a charge of $303 million, the company said.
Shares of CSC rose 13 cents to $50.78 in Thursday's trading.
Century City-based Northrop Grumman said today that it will repurchase up to $2.5 billion of outstanding common stock, representing more than 9% of hte company's current market cap.
As of Nov. 30, Northrop had about 338 million shares outstanding.
"Our new $2.5 billion authorization is the largest in our company’s history and demonstrates our continuing commitment to a balanced cash deployment strategy that encompasses investment for the future, management of liabilities, and the enhancement of shareholder value through share repurchases and dividends. It also underscores our confidence in Northrop Grumman’s financial outlook for 2008 and beyond,"
said chairman and CEO Ronald D. Sugar in a rlease.
Hawthorne-based OSI Systems, which makes electronic products for the security and healthcare industries, said it completed its merger with Spacelabs Healthcare, which now is a wholly owned subsidiary of OSI Systems.
Within the next 10 days, notification of the merger and related information will be sent to Spacelabs’ pre-merger stockholders.
LA County Technology Week is coming Jan. 28-Feb. 1.
Go to the Web site, or see a brief schedule below:
January 28
* Kick-Off Keynote Speaker Sally Ride, Astronaut and Technology Leader
* Technology Leadership Prize Awards
* CIO Insights Program
* Tech Coast Angels Entrepreneur Fast Pitch Competition, UCLA
January 29
* Clean Technology Roundtable, Caltech
* How Technology is Transforming Organizational Structures, Marketing, Management and
Nearly Everything Else in the Business World, USC
* IP Strategy - Trade Secrets vs. Patents
January 30
* Pasadena Angels Screening Meeting with Company Presentations
* The High-Tech Enterprise of the Future: Tools for Breakthrough Results, CSULB
* How Tech Companies Drive World Trade, CSULB
January 31
* Coming to a Small Screen Near You: Opportunities & Challenges in Mobile Broadband Distribution, Woodbury University
* Technology Convergence - Creating Aerospace, Aviation and National Security Innovation, Loyola Marymount
* The Business of Game Design
February 1
* Wrap-up event
El Segundo-based Computer Sciences Corp. won a contract to provide systems engineering and technical support for the Department of Defense.
The contract, which has one base year and four one-year options, is worth about $70 million if all options are exercised.
CSC will provide its services during research, development, production and fielding of developmental and commercial off-the-shelf products and equipment in the DoD's Product Manager, Force Protection Systems organization.
Read the release.
CSC Wins $70 Million Contract to Support the DOD's Force Protection Systems Organization
December 20, 2007: 07:00 AM EST
EL SEGUNDO, Calif., Dec. 20 /PRNewswire-FirstCall/ -- Computer Sciences Corporation announced today that it has won a contract to provide systems engineering and technical support services for the Department of Defense's Product Manager, Force Protection Systems (PM-FPS) organization. CSC estimates the value of the contract, which has one base year and four one-year options, to be approximately $70 million if all options are exercised.
Under the terms of the agreement, CSC will provide systems engineering and integration support during the research, development, production and fielding of developmental and commercial off-the-shelf products and equipment.
"We are delighted the PM-FPS continues to count on CSC for our technical and management support for critical force protection and physical security programs," said James W. Sheaffer, president of CSC's North American Public Sector business unit. "By leveraging our experience and domain expertise, CSC will deliver professional services that will enhance the protection of military personnel within the continental United States and warfighters deployed around the world."
CSC is leading a team of small firms, including Empire Video and Earthcare Technologies, of Springfield, Va.; Registration Control Systems, of Wye Mills, Md.; and The Convention Store, of Edgewater, Md.
PM-FPS provides centralized management for the research, development and acquisition of interior physical security equipment, command and control systems, security lighting, tactical security systems, barrier systems, mass notification/personnel alerting systems and unmanned robotic vehicles. PM-FPS provides affordable, modular, scalable and supportable physical security capabilities which can be integrated into a system/family of systems for use by tactical forces and installations worldwide.
About CSC
Computer Sciences Corporation is a leading global information technology (IT) services company. CSC's mission is to provide customers in industry and government with solutions crafted to meet their specific challenges and enable them to profit from the advanced use of technology.
With approximately 87,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC's own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. Headquartered in El Segundo, Calif., CSC reported revenue of $14.9 billion for the 12 months ended March 30, 2007. For more information, visit the company's Web site at http://www.csc.com.
TOKYO (AP) — Honda expects its global sales will rise 6 percent this year to a record 3.76 million vehicles on booming demand in the U.S., Europe and Asia, the automaker's president said Wednesday.
The company also plans to invest aggressively in research for hybrids and other new technology in Japan, said Takeo Fukui, president of Japan's No. 2 automaker.
"The competition in hybrids has just begun," he said, a clear reference to Toyota, which makes the Prius, the top-selling hybrid.
Fukui said Honda will introduce a new hybrid model, which runs on gas and electricity, with an affordable price tag in 2009, targeting sales of 200,000 vehicles a year. The company will focus more on hybrid offerings so that overall hybrid sales will make up about 10 percent of Honda's sales by about 2010, he said.
Honda R&D Co. announced plans to build a product development facility dedicated to the Acura brand within the new R&D center being constructed in Sakura, Tochigi prefecture, in addition to the originally-planned multiple test courses. The new R&D center is scheduled to become operational in 2009.
Rock legend Meat Loaf will host Rock & A Hard Place, an all-new original game show featuring
classic and current music superstars in a trivia challenge for charity.
The series debuts 10 p.m. ET/PT Jan. 23 on DIRECTV’s original entertainment channel, The 101.
The game show will feature musicians like The Pointer Sisters, Warrant, Sheila E., the Pussycat
Dolls and others as they test their knowledge on everything from music history to current-events trivia.
Hawthorne-based OSI Systems' Rapiscan Systems division won a contract worth about $5 million from an "undisclosed international aviation customer" for the South Bay firm's new Rapiscan MVXi multi-view X-ray systems for passenger screening, OSI said Tuesday.
On the first day of regular business operations at SpaceX's new Hawthorne headquarters, the rocket developer completed the systems requirements review for what will be the third Falcon 9/Dragon demonstration under NASA's Commercial Orbital Transportation Services program, the company said Tuesday.
NASA’s Commercial Orbital Transportation Services (COTS) program calls for SpaceX to conduct three Falcon 9/Dragon flights, demonstrating the ability to approach, berth, and ultimately deliver cargo to the $100 billion International Space Station, and return cargo to Earth. On this third demonstration, the Dragon spacecraft will approach the ISS and hold its position nearby. Then, according to the SpaceX plan, a robotic arm on the station will capture Dragon and guide it to a berthing port on the Harmony module.
"When the hatch opens, a new era in space transportation will begin," said Elon Musk, CEO of SpaceX, in a release. "By providing commercial delivery services to orbit, SpaceX will transform the way the government and private entities access space. The Falcon 9/Dragon system will ensure that there is no gap in US space transportation capabilities following retirement of the Space Shuttle in 2010."
read the release
SpaceX Successfully Completes NASA Systems Requirements Review for Dragon Spacecraft Demonstration to Berth at International Space Station Business Editors
HAWTHORNE, Calif.--(BUSINESS WIRE)--Dec. 18, 2007--Space Exploration Technologies Corp. (SpaceX) has completed the Systems Requirements Review (SRR) for what will be the third Falcon 9 / Dragon demonstration under NASA’s Commercial Orbital Transportation Services (COTS) program. NASA representatives attended the event, held on the first day of regular business operations at SpaceX’s new headquarters in Hawthorne, California.
Under COTS, SpaceX will conduct three Falcon 9 / Dragon flights, demonstrating the ability to approach, berth, and ultimately deliver cargo to the $100 billion International Space Station (ISS), and return cargo to Earth. On this third demonstration, the Dragon spacecraft will approach the ISS and hold its position nearby. Then, according to the SpaceX plan, a robotic arm on the station will capture Dragon and guide it to a berthing port on the Harmony module.
"When the hatch opens, a new era in space transportation will begin," said Elon Musk, CEO of SpaceX. "By providing commercial delivery services to orbit, SpaceX will transform the way the government and private entities access space. The Falcon 9 / Dragon system will ensure that there is no gap in US space transportation capabilities following retirement of the Space Shuttle in 2010."
During the meeting, all comments and questions raised by NASA’s experts were addressed by the SpaceX design team. "Because we connect to the ISS on this mission, NASA applied significant additional scrutiny to ensure the safety of the station and its crew," said Max Vozoff, SpaceX Mission Manager. By receiving NASA approval for this review, SpaceX continues its record of successfully meeting all COTS milestones on schedule.
Although these demonstrations are for cargo re-supply, SpaceX designed the Dragon spacecraft to transport up to seven astronauts to Earth orbit and back.
About SpaceX
Space Exploration Technologies (SpaceX) is developing a family of launch vehicles intended to reduce the cost and increase the reliability of both manned and unmanned space transportation. With its Falcon launch vehicles, SpaceX offers light, medium and heavy lift capabilities to deliver spacecraft into any inclination and altitude, from low Earth orbit to geosynchronous orbit to planetary missions.
There's a lot out there about employers cutting back or eliminating employee pension plans, health benefits, etc. Here's a contrarian view from a survey conducted by the California Chamber of Commerce.
Read the release.
CalChamber Releases Employer Benefits Survey
Past decade shows a marked increase in the number and types of benefits
offered to employees
Tuesday, December 18, 2007
SACRAMENTO —The California Chamber of Commerce today released the results of a recent survey evaluating how California companies have changed their employee benefits packages over the last decade.
To help California employers evaluate their benefits programs compared to other organizations for their size, in their industries and in the state, the CalChamber invited California employers to participate in a survey of employee benefits. Since the first employer survey in 1997, the past decade shows that there has been a marked increase in the number and types of benefits offered to employees, with a corresponding rise in employee cost sharing for health care.
More than 1,000 CalChamber member companies large and small throughout the state participated — providing information on health care benefits and retirement packages, along with information on part-time employees, holidays, paid time off, wellness and elder care benefits.
This is the third Employer Benefits Survey published by CalChamber. The first survey was published in 1997, the second in 2006 and the current study in 2007. All comparisons to 1997 California employer activities are in reference to the 1997 CalChamber Employer Benefits Study as is generally cited in the report. All other references provide the source for the data against which these study findings are compared.
Expanded Benefits and Employee-Focused Programs
Throughout the state, employers expanded benefits and employee-focused programs as a recognition of the importance of contributing to the well being of employees throughout their tenure with the organization. With the goal of creating an appealing, flexible work environment to help employees manage the demands of balancing work and family, a number of employer practices have become more prevalent. Specifically, since 1997, more California employers are:
Providing employee handbooks (up twelve percentage points to 92 percent in 2007);
Conducting employee orientations (up fifteen percentage points to 86 percent in 2007);
Conducting performance appraisals (up eight percentage points to 89 percent in 2007);
Offering child care assistance (up twenty-five percentage points to 53 percent in 2007);
Offering elder care assistance (35 percent in 2007 - not measured in 1997);
Offering employee assistance (EAP) (up seven percentage points to 41 percent in 2007);
Allowing telecommuting (up fourteen percentage points to 29 percent in 2007);
Offering alternative work schedules (up twenty-eight percentage points to 41 percent in 2007);
Offering an expanded list of holiday and floating holidays (for example, Martin Luther King Day up ten percentage points to 29 percent in 2007); and
Offering more team building activities and casual work environments (for example, employer-sponsored parties, outings, casual dress any time, and job-related tuition reimbursement).
Employer support of certain types of health care coverage and wellness programs has also expanded. Since 1997, more employers are:
Paying at least some portion of employee dental coverage (up eleven percentage points to 81 percent in 2007);
Paying at least some portion of employees vision coverage (up twenty-four percentage points to 54 percent in 2007);
Offering employee wellness programs (29 percent in 2007 - not measured in 1997); and
Increasing contributions toward dependents’ coverage for dental (up eight percentage points to 53 percent in 2007) and vision insurance (up seventeen percentage points to 39 percent in 2007).
The proportion of employers paying at least some portion of employees’ or dependents’ medical and life insurance has not changed, however, and are 97 percent and 69 percent, respectively for employees in 2007, and 60 percent and 12 percent, respectively for dependents in 2007.
Rising Health Care Costs and Cost Management Activities
California employers reported an increase in the per-employee cost of health care compared to 2006. They further report a variety of changes or intended changes in their health care programs in an effort to manage escalating costs. The following is included in this year’s survey:
The percentage of employers paying more than $5,000 per employee has risen from 27 percent in 2006 to 38 percent in 2007, a 40 percent increase. In 2007, 21 percent of employers pay more than $7,000 per employee.
Twenty-three percent of employers are considering raising their employees’ portion of the premium payment. Thirty-seven percent of large (100+ employees) are considering such an increase.
Twenty-six percent and 22 percent of employers offer Health Savings Accounts (HSA) or High Deductible Health Benefits (HDHB).
Seventy-eight percent of employers offer a 401(k) plan, up from 56 percent in 1997. Today, only 5 percent of California employers offer a pension program, many fewer than in 1997 (23 percent).
Overall, only 5 percent of employers offer retiree health care benefits. Seven percent of employers with 100 or more employees offer retiree health care benefits and among employers with 250 or more employees, 10 percent do. This is considerably lower than nationally reported penetration levels among employers with two-hundred or more employees (33 percent).
Size of the Organization
The survey found that the number of employees working in an organization influences the number and types of employee benefits and management activities undertaken by the employer. Smaller, and especially micro organizations (1-10 employees), perform fewer employee support activities such as employee handbooks, orientations, and harassment training, for example, than larger employers. The very small, micro employers are also less likely to pay any portion of health care coverage for their employees or to offer any type of retirement program. Employers with 11-49 employees in some cases operate similarly to micro organizations and in other cases appear to be more similar to larger employers. More than larger organizations, smaller employers offer a more flexible and casual environment as evidenced by the more frequent allowance of alternative work schedules and casual dress.
Once an organization reaches fifty employees, many of the activities related to managing employees (e.g., hiring, training, appraisals, etc.) are in place and relatively few differences emerge as the employer adds employees. Yet, as the size of an organization increases, the time and resources required to manage employee benefits and activities grows exponentially due to both the greater number of employees and the increased number of activities and programs performed, according to the survey.
Industry
While few differences emerge between employers from different industries in terms of health insurance coverage for employees, dependents, or part-time employees, some differences do emerge in terms of health care costs and planned changes.
Manufacturing and scientific/technical employers report some of the highest levels of per-employee costs for health care while retail/wholesale trade and agriculture/resources tend to have slightly lower costs.
Employers in the retail/wholesale sector report a greater intent than most other employers to raise their employees’ premium portion. Employers in scientific/technical are least likely to be considering this change.
Some other types of benefits vary by the industry in which the employer competes. For example, there is a tendency for more employers in finance/insurance/information services to offer child care and employee assistance programs than many other industry employers. And they, along with scientific/technical, are more likely to offer both alternative work schedules and telecommuting.
A copy of the executive summary can be found at www.CalBizCentral.com/benefitssurvey. CalBizCentral, the source for California business and human resource compliance products, presented by the CalChamber.
The California Chamber of Commerce (CalChamber) is the largest broad-based business advocate to government in California. Membership represents one-quarter of the private sector jobs in California and includes firms of all sizes and companies from every industry within the state. Leveraging our front-line knowledge of laws and regulations, we provide products and services to help businesses comply with both federal and state law. CalChamber, a not-for-profit organization with roots dating to 1890, promotes international trade and investment in order to stimulate California's economy and create jobs. Please visit our website at www.calchamber.com.
Honda Motor Co. is recalling 43,200 Acura RL sedans to fix a power steering hose that may crack from engine heat and possibly cause a fire.
Read the story.
Interesting article on how Toyota and a brain-game professor plan to develop cars for the elderly. Here's the link.
Northrop Grumman Space Technology is displaying a solar car for the media at its Redondo Beach campus today. The car was made by a team of engineers at the University of Michigan. Northrop sponsors the team.
The car is 650 pounds, with three wheels. We'll try to get a photo of the car on the blog.
Motor Trend has named Toyota's Tundra 2008 Truck of the Year, saying the truck matches detroit rivals' full-size trucks.
Read the release.
Motor Trend Names Toyota Tundra 2008 Truck of the Year™
Toyota Delivers a Full-Size Pickup that Matches Detroit Rivals
LOS ANGELES--(BUSINESS WIRE)--Motor Trend (www.motortrend.com), the world's automotive authority and part of SOURCE INTERLINK MEDIA, today announced the selection of the all-new Toyota Tundra as its 2008 Truck of the Year™. The complete report on Motor Trend’s 2008 Truck of the Year™ will be published in the magazine’s February issue, available on newsstands January 1, 2008.
“Toyota’s introduction of a full-size pickup truck in the U.S. was a seismic event and one of the most highly anticipated vehicle launches in recent years,” said Angus MacKenzie, editor in chief of Motor Trend. “The question on everybody’s mind was whether Toyota could use its manufacturing and marketing muscle to compete with the big boys on their home turf. The answer can be found in one of the biggest and most capable vehicles in the segment, and one that can compete with any American-made pickup truck, at any level.”
The Tundra’s three different powertrains, one V-6 version and two V-8s, include a 5.7-liter V-8 that MacKenzie called “a high-tech wonder and torque monster.” The Tundra won over the judges with its class leading performance, and excellent load carrying and towing capabilities, combined with its impressive smoothness and refinement.
“This is an ambitious truck that is suited for its primary market,” said MacKenzie. “That Toyota, right out of the gate, offers 44 different flavors of the Tundra with different bed sizes, wheelbases, cab configurations and trim packages, is impressive. With the arrival of the Tundra, we now have a Japanese truck whose dimensions and performance make it a serious rival to the F-150, Silverado and Ram.”
MacKenzie addressed the recent Tundra recall. “Recalls are inevitable in an industry producing complex pieces of machinery like cars and trucks. The problem noted by Toyota was tracked to a single component from an outside supplier in about 15,000 Tundras, and did not show up on the vehicles we tested. We are satisfied the company has moved fast to rectify the issue, and that it does not alter our view of the fundamental excellence of the vehicle.”
The 2008 Field of Contenders
The Toyota Tundra was one of four trucks eligible for the Truck of the Year title. The other contenders were the Chevrolet Silverado HD, GMC Sierra HD and the Ford F-Series Super Duty. To be eligible for Truck of the Year, a vehicle must be totally new or redesigned, and released in the 12 months prior to January 1, 2008 (vehicles with modifications such as new engines or that are variants of existing models are not eligible).
About the Testing and Evaluation Process
Motor Trend subjected all Truck of the Year contenders to a series of rigorous on- and off-road testing at the Yucca, Arizona proving grounds. Editors tested two versions of each contender, with different engines, transmissions and body configurations to better evaluate the breadth of capabilities in such diverse areas as towing power, dirt and gravel road handling and stop and go traffic.
Each year, the editorial staff of Motor Trend has evaluated eligible vehicles for its Truck of the Year based on three key categories: Significance, Superiority and Value. Significance refers to innovation in engineering, technology, design, safety and packaging. Superiority levels the playing field and looks for class-leading levels of vehicle dynamics and performance, build quality and execution, and how well the vehicle performs its intended function. Finally, the all-important Value question asks, “What does this vehicle deliver in relation to what the consumer has to pay to purchase and own it?”
High-resolution images of the winner are available upon request and at www.motortrend.com/media. Multimedia coverage of the testing and selection process will be broadcast on Motor Trend Radio, hosted by Bob Long.
El Segundo-based Northrop Grumman Integrated Systems and L-3 Communications today submitted a proposal for the US Navy's EPX aircraft program.
The Navy expects the EPX to assume the role of the EP-3E aircraft, a "manned aircraft providing intelligence, surveillance, reconnaissance and targeting support to carrier strike groups and theater, combatant and national commanders."
Read the release
Northrop Grumman, L-3 to Work Together in Bid for U.S. Navy's
EPX Aircraft
EL SEGUNDO, Calif., Dec. 17, 2007 (PRIME NEWSWIRE) -- Northrop Grumman
Corporation (NYSE:NOC) today submitted a proposal with L-3
Communications (NYSE:LLL) for the U.S. Navy's EPX aircraft program in a
world-class collaboration of industry leaders. The EPX platform will
provide a transformational, multi-intelligence capability delivering
strike targeting information to the warfighter.
The Navy envisions EPX as a shore-based, manned aircraft providing
intelligence, surveillance, reconnaissance and targeting (ISR&T)
support to carrier strike groups and theater, combatant and national
commanders. The EPX would assume the role of the Navy's EP-3E aircraft
and provide greatly expanded capabilities.
The proposal was submitted in response to a Navy broad agency
announcement (BAA) issued in November that solicited bids to develop an
EPX preferred system concept and analyze the risks and requirements.
L-3 will serve as the principal subcontractor to Northrop Grumman.
"Northrop Grumman and L-3 combine unmatched expertise in battle
management, airborne ISR&T and the development of special mission
aircraft," said Pat McMahon, vice president of Information Operations
and Electronic Attack for Northrop Grumman's Integrated Systems sector.
"We look forward to demonstrating our capabilities to meet the Navy's
critical need for an expanded ISR&T capability in a smaller, more
networked force."
Northrop Grumman has developed numerous mission systems solutions for a
variety of needs in ISR&T and battle management command and control. In
particular, Northrop Grumman brings decades of experience in naval
aviation systems integration with systems such as the E-2 Hawkeye and
EA-6B Prowler.
L-3 brings systems integration experience on a number of ISR&T
aircraft, particularly as prime contractor for the EP-3E, the proven
system the EPX will replace.
"L-3's success as a customer-focused ISR&T systems integrator is rooted
in our customer responsiveness and the ability to meet mission
requirements with technically innovative, platform-independent
solutions," said Mike Holmes, vice president of Federal Programs for
L-3's Integrated Systems subsidiary.
L-3 Integrated Systems is the industry's leading non-OEM aircraft
integrator, serving major ISR&T fleets for the U.S. and its allies for
more than 50 years. Major programs/fleets include the EP-3E, RC-135 and
EC-130, as well as programs for the United Kingdom, Australia, New
Zealand and the Republic of Korea.
In addition to their legacy with Navy systems, Northrop Grumman and L-3
Communications have extensive experience with U.S. Air Force and U.S.
Army systems, which will enable them to provide joint service
capabilities in their EPX solution.
Headquartered in New York City, L-3 Communications employs over 63,000
people worldwide and is a prime system contractor in aircraft
modernization and maintenance, C3ISR (Command, Control, Communications,
Intelligence, Surveillance and Reconnaissance) systems and government
services. L-3 is also a leading provider of high technology products,
systems and subsystems. The company reported 2006 sales of $12.5
billion. To learn more about L-3, please visit the company's web site
at www.L-3Com.com.
Northrop Grumman Corporation is a $30 billion global defense and
technology company whose 120,000 employees provide innovative systems,
products, and solutions in information and services, electronics,
aerospace and shipbuilding to government and commercial customers
worldwide.
El Segundo-based Computer Sciences Corp. said it won a contract to support the Defense Information A