What a failed Iran deal would mean for oil prices and military tensions

ATTA KENARE | AFP | Getty ImagesThe Iranian nuclear deal looks all but dead just one year after the President Donald Trump administration walked away from it and reimposed crippling sanctions on the Islamic Republic. The oil price impactThe direction of oil prices will depend on what Iran does with its nuclear program in the event of the deal’s termination, and whether Tehran’s strategy triggers a military response. “An actual military confrontation or even limited military strikes could cause p


ATTA KENARE | AFP | Getty ImagesThe Iranian nuclear deal looks all but dead just one year after the President Donald Trump administration walked away from it and reimposed crippling sanctions on the Islamic Republic. The oil price impactThe direction of oil prices will depend on what Iran does with its nuclear program in the event of the deal’s termination, and whether Tehran’s strategy triggers a military response. “An actual military confrontation or even limited military strikes could cause p
What a failed Iran deal would mean for oil prices and military tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: natasha turak
Keywords: news, cnbc, companies, program, tensions, mean, iran, failed, deal, military, iranian, oil, nuclear, war, sanctions, prices


What a failed Iran deal would mean for oil prices and military tensions

Iranian soldiers take part in the “National Persian Gulf day” in the Strait of Hormuz, on April 30, 2019. ATTA KENARE | AFP | Getty Images

The Iranian nuclear deal looks all but dead just one year after the President Donald Trump administration walked away from it and reimposed crippling sanctions on the Islamic Republic. As Iran’s government starts breaking its agreed uranium enrichment limits, European leaders are floundering to keep it alive. British Foreign Secretary Jeremy Hunt claimed Monday that the Obama-era deal — signed by the U.S., U.K., Iran, Russia, China, France and Germany in 2015 and intended to provide Iran economic relief in exchange for limits on its nuclear program — “isn’t dead yet.” Other European lawmakers frantically stress the dangers of killing the deal, while Tehran says it can always reverse its deal breaches if the EU defies American sanctions and resumes trade with Iran — something it appears largely unable or unwilling to do. For many Iran watchers, the deal has already collapsed. But what will happen if it officially ends, and what are the consequences for the world?

The oil price impact

The direction of oil prices will depend on what Iran does with its nuclear program in the event of the deal’s termination, and whether Tehran’s strategy triggers a military response. “If the deal dies and Iran starts enriching uranium again at 20% levels and spinning the higher speed centrifuges, we will be closer to a military confrontation involving the U.S. and Iran or potentially Israel and Iran,” Helima Croft, global head of commodity strategy at RBC Capital Markets, told CNBC Thursday. “An actual military confrontation or even limited military strikes could cause prices to temporarily spike.”

Iranian leaders have repeatedly claimed they are not after acquiring nuclear weapons, rather civilian nuclear energy. But before the 2015 deal went into action the country was enriching uranium — the fissile material required for a bomb — at 20%, far above the 3.67% level required for an energy program and roughly three months away from reaching 90% enrichment, or weapons-grade uranium. Under the deal, international inspection agencies verified that Iran had brought enrichment down to 3.67%, the level it now says it’s breaching at just over 4%.

For the U.S., I think it all depends on Trump’s domestic political considerations and who is whispering in his ear on a nightly basis. Richard Nephew Program director at the Center on Global Energy Policy, Columbia University, former State Department sanctions expert

“If war were to break out, we estimate that the price of oil would quickly surge to around $150 per barrel following the outbreak of hostilities,” analysts at London-based Capital Economics said in a research note last week. Twenty million barrels of crude per day are produced in the Persian Gulf. Conflict could prompt the closure of the Strait of Hormuz, through which one-third of the world’s seaborne oil passes. Still, oil watchers point out that with the U.S. shale boom and less global reliance on the Persian Gulf than in previous years, there’s probably enough slack in the international market to bring prices back down. “The deal dying and Iran continuing a staged nuclear restart that still keep it fairly far away from reaching nuclear breakout capability could put a floor under oil prices,” Croft said, but with weak demand concerns still high, it “may not move the needle much.”

Military response: Trump’s call

Most analysts maintain war in the Persian Gulf remains unlikely, but fear that with tensions so high and no diplomatic channel of communication, a mere miscalculation could set off a serious conflict. “For the U.S., I think it all depends on Trump’s domestic political considerations and who is whispering in his ear on a nightly basis,” Richard Nephew, sanctions expert and program director at the Center on Global Energy Policy at Columbia University, told CNBC. Trump’s hawkish National Security Advisor John Bolton “had that upper hand for a while,” Nephew said. “Now, it looks like the isolationists do.”

National Security Advisor John Bolton with that notebook as he listens to questions from reporters during a press briefing at the White House January 28, 2019 in Washington, DC. During the briefing, economic sanctions against Venezuela’s state owned oil company were announced in an effort to force Venezuelan President Maduro to step down. Win McNamee | Getty Images News | Getty Images

With his reelection campaign underway and a long-touted pledge to end America’s Middle East wars, recent actions like seemingly absolving Iran of harsh blame for shooting down a U.S. drone in June and calling off a planned retaliatory strike suggest Trump is very reluctant to go to war. However, Trump said Thursday that a U.S. Navy ship had destroyed an Iranian drone in a “defensive action” in the Strait of Hormuz earlier that day. Nephew believes that Iran “will proceed cautiously on the nuclear side and in ways that are non-attributable — where possible — on the regional side.” Some security experts suggest a “surgical strike” on Iranian nuclear facilities by the U.S., if anything, rather than an all-out war. In terms of military capacity, the U.S. has a far greater range than Iran, says Michael Rubin, a former Pentagon official and resident scholar at the American Enterprise Institute in Washington, D.C. “Sure, Iranian speedboats or drones can harass shipping,” Rubin said. “But if the Iranians go too far, the U.S. Navy can strike Iranian small boats and ports from hundreds of miles away in the Indian Ocean, and the Iranian military would have no effective defense.”

Israel’s ‘any means necessary’

Israel, for its part, has said it will use any means necessary to prevent Iran from acquiring a nuclear bomb, though its internal deliberations on the matter are incredibly complex. Between 2010 and 2012 Israel’s intelligence agency, the Mossad, is believed to have been behind the assassinations of four of Iran’s top nuclear scientists, and in 2007 it carried out airstrikes against a suspected nuclear facility in Syria. If Israel were to strike Iran, the big question will be whether the U.S. follows suit and how Iran would respond, which some analysts say would be likely via rocket attacks by its Lebanese proxy Hezbollah. Tamas Varga, a business analyst at PVM Oil Associates in London, still sees a U.S. move toward war as highly unlikely, especially with the 2020 elections looming. “With the U.S. presidential campaign underway, the last thing Donald Trump would need is a jump in domestic retail gasoline prices,” Varga said. “Never say never, but military conflict is currently not plausible.”

What will the nuclear threat look like?


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: natasha turak
Keywords: news, cnbc, companies, program, tensions, mean, iran, failed, deal, military, iranian, oil, nuclear, war, sanctions, prices


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Trump’s business allies and over 400 bundlers give his 2020 war chest a boost

US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019. President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help raise millions of dollars for the 2020 reelection effort. The Trump bundler program was rolled out in May and is being advised by George W. Bush’s former national finance director, Jack Oliver. “Friends are talkin


US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019. President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help raise millions of dollars for the 2020 reelection effort. The Trump bundler program was rolled out in May and is being advised by George W. Bush’s former national finance director, Jack Oliver. “Friends are talkin
Trump’s business allies and over 400 bundlers give his 2020 war chest a boost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: brian schwartz
Keywords: news, cnbc, companies, bundlers, program, campaign, president, told, outreach, 2020, 400, trump, allies, trumps, chest, war, donors, miller, executives, boost, raise, business


Trump's business allies and over 400 bundlers give his 2020 war chest a boost

US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019.

President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help raise millions of dollars for the 2020 reelection effort.

So far, the campaign has recruited at least 400 experienced fundraisers to work with the Trump leadership, according to people with direct knowledge of the matter.

The Trump bundler program was rolled out in May and is being advised by George W. Bush’s former national finance director, Jack Oliver.

“What you need is people who have networks through their synagogues, churches, mosques, businesses and even sports teams,” Oliver told CNBC. “The bundling program is a way for people to drum up support through people who know there have been results with this president.”

Among the executives and lobbyists reaching out to fellow business leaders are:

Real estate magnate Stanley Chera

Atlas Merchant Capital managing director Patrick Durkin

Travis Brown, founder of political consulting firm Pelopidas

Jeff Miller, an energy lobbyist

The donor outreach campaign has been a resounding success. The strengthening of the president’s formidable campaign war chest has led his organization, along with the Republican National Committee, to raise over $100 million in the second quarter.

Miller, the founder of lobbying firm Miller Strategies, bundled over $110,000 in the second quarter for Trump, a Federal Election Commission filing says. While Miller has been identified in a recent FEC filing as an official bundler for the campaign, it’s unclear whether Chera is making calls to financiers as anything more than a favor to a president to whom they’ve been loyal since he entered the White House. Durkin and Brown, according to people familiar with the outreach, have started actively bundling for the campaign.

A senior Trump campaign spokeswoman told CNBC that the success of the bundling program has spread across the country and it’s leading to donors who stayed away from Trump in 2016 to jump on board this time around.

“Friends are talking to friends and working together to help President Trump win reelection in 2020,” the spokeswoman said. “People who have never given a cent to any campaign before or stayed out of the mix last time are coming off the sidelines in droves to support President Trump.”

The White House declined to comment. Chera, Miller and Brown did not return a request for comment.

Democrats, meanwhile, are fighting among themselves to capture donors who will finance a formidable campaign versus Trump in the general election. With these business leaders and influential lobbyists using their networks to rake in donors for the campaign, it could give Trump an insurmountable fundraising advantage over his eventual opponent.

Donors who have agreed to back Trump cite his business-friendly policies such as tax cuts and reduced regulations, while arguing the Democratic Party is going too far to the left. A person familiar with the Trump donor outreach, who spoke on the condition of anonymity, said many of the people making calls to GOP executives are working to raise over $300,000 each.

In another good sign for the president’s fundraising hopes, several financiers who backed Trump’s opponents in 2016 flipped to his side in the previous quarter.

“Fundraisers were divided in 2016. That’s not the case this time.” Republican donor Dan Eberhart told CNBC. “Everybody is behind the president toward the common goal of another four years. Those grumblers about the president don’t like his style but they darn sure like his policies.”


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: brian schwartz
Keywords: news, cnbc, companies, bundlers, program, campaign, president, told, outreach, 2020, 400, trump, allies, trumps, chest, war, donors, miller, executives, boost, raise, business


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US cuts Turkey from F-35 program after Russian missile deal

A F-35 fighter jet is seen as Turkey takes delivery of its first F-35 fighter jet with a ceremony at the Lockheed Martin in Forth Worth, Texas, United States on June 21, 2018. America’s most expensive weapons platform lost one of its founding international partners on the heels of a multi-billion dollar deal brokered between Russia and Turkey. “Unfortunately, Turkey’s decision to purchase Russian S-400 air defense systems renders its continued involvement with the F-35 impossible. Last week, Tur


A F-35 fighter jet is seen as Turkey takes delivery of its first F-35 fighter jet with a ceremony at the Lockheed Martin in Forth Worth, Texas, United States on June 21, 2018. America’s most expensive weapons platform lost one of its founding international partners on the heels of a multi-billion dollar deal brokered between Russia and Turkey. “Unfortunately, Turkey’s decision to purchase Russian S-400 air defense systems renders its continued involvement with the F-35 impossible. Last week, Tur
US cuts Turkey from F-35 program after Russian missile deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: amanda macias
Keywords: news, cnbc, companies, cuts, program, deal, turkey, system, fighter, stein, s400, f35, turkeys, russian, united, value, states, missile


US cuts Turkey from F-35 program after Russian missile deal

A F-35 fighter jet is seen as Turkey takes delivery of its first F-35 fighter jet with a ceremony at the Lockheed Martin in Forth Worth, Texas, United States on June 21, 2018.

America’s most expensive weapons platform lost one of its founding international partners on the heels of a multi-billion dollar deal brokered between Russia and Turkey.

“Unfortunately, Turkey’s decision to purchase Russian S-400 air defense systems renders its continued involvement with the F-35 impossible. The F-35 cannot coexist with a Russian intelligence collection platform that will be used to learn about its advanced capabilities,” the White House said Wednesday, adding that there will be “detrimental impacts” on Turkey’s participation in NATO.

Last week, Turkey accepted delivery of the Russian-made S-400, a mobile surface-to-air missile system, that is said to pose a risk to the NATO alliance as well as Lockheed Martin’s F-35 stealth fighter jet.

“This day has been a long time coming and the second order effects for Turkey will be significant,” Aaron Stein, director of the Middle East program at the Foreign Policy Research Institute, told CNBC.

“Turkey has made the political choice to absorb what will be a tremendous financial cost for a system of questionable military value, but of immense political value for a Turkish leadership determined to act more autonomously from the United States,” Stein added.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: amanda macias
Keywords: news, cnbc, companies, cuts, program, deal, turkey, system, fighter, stein, s400, f35, turkeys, russian, united, value, states, missile


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Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program

Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09. West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. Tension between the United States and Iran over Tehran’s nuclear program have previously lent support to oil futures, given the potenti


Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09. West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. Tension between the United States and Iran over Tehran’s nuclear program have previously lent support to oil futures, given the potenti
Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16
Keywords: news, cnbc, companies, secretary, progress, pompeo, program, state, drops, production, negotiate, crude, session, oil, data, earlier, iran, missile, futures, ready, prices


Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program

Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast.

Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09.

West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. The U.S. benchmark hit a session high of $60.06 earlier in the day.

“What were tailwinds have become headwinds,” said Bob Yawger, director of energy futures at Mizuho in New York. He said the same tensions between the United States and Iran that had driven prices higher earlier in the session were putting a damper on the market after Trump’s comments.

Trump said on Tuesday a lot of progress had been made with Iran and that he was not looking for regime change in the country.

Trump, who made the remarks at a Cabinet meeting in the White House, did not give details about the progress, but U.S. Secretary of State Mike Pompeo said at the meeting Iran had said it was prepared to negotiate about its missile program.

Tension between the United States and Iran over Tehran’s nuclear program have previously lent support to oil futures, given the potential for a price spike should the situation deteriorate.

Uncertainty about China’s economic prospects also pressured prices lower after data on Monday showed that growth in the country slowed to 6.2% from a year earlier, the weakest pace in at least 27 years.

Additionally, U.S. oil companies on Monday began restoring some of the nearly 74% of production that was shut at platforms in the Gulf of Mexico because of Hurricane Barry.

Workers were returning to the more than 280 production platforms that had been evacuated. It can take several days for full production to resume.

The storm will probably result in a noticeable decline in U.S. crude oil stocks this week, analysts at Commerzbank said.

Inventory data will be published by the American Petroleum Institute on Tuesday evening, and by the U.S. Department of Energy on Wednesday.

However, some say the bullish inventory data is structural, and not attributable only to the storm.

“Beyond the storm we feel we’re in a tightening inventory mode through August,” said Phil Flynn, an analyst with Price Futures Group in Chicago.


Company: cnbc, Activity: cnbc, Date: 2019-07-16
Keywords: news, cnbc, companies, secretary, progress, pompeo, program, state, drops, production, negotiate, crude, session, oil, data, earlier, iran, missile, futures, ready, prices


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Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program

Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09. West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. The U.S. benchmark hit a session high of $60.06 earlier in the day. Trump said on Tuesday a lot of progress had been made with Iran and


Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09. West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. The U.S. benchmark hit a session high of $60.06 earlier in the day. Trump said on Tuesday a lot of progress had been made with Iran and
Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16
Keywords: news, cnbc, companies, secretary, futures, crude, program, session, progress, ready, state, iran, oil, prices, barrel, earlier, negotiate, pompeo, drops, tensions, missile, high


Oil drops more than 3% after State Secretary Pompeo says Iran is ready to negotiate about its missile program

Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast.

Brent crude futures were down $2.56 or 3.7% at $63.86 a barrel, after hitting a session high of $67.09.

West Texas Intermediate crude futures fell by $2.46 or 4.2% to $57.09 a barrel. The U.S. benchmark hit a session high of $60.06 earlier in the day.

“What were tailwinds have become headwinds,” said Bob Yawger, director of energy futures at Mizuho in New York. He said the same tensions between the United States and Iran that had driven prices higher earlier in the session were putting a damper on the market after Trump’s comments.

Trump said on Tuesday a lot of progress had been made with Iran and that he was not looking for regime change in the country.


Company: cnbc, Activity: cnbc, Date: 2019-07-16
Keywords: news, cnbc, companies, secretary, futures, crude, program, session, progress, ready, state, iran, oil, prices, barrel, earlier, negotiate, pompeo, drops, tensions, missile, high


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Amazon plans to spend $700 million to retrain a third of its US workforce in new skills

Amazon.com on Thursday unveiled plans to retrain a third of its U.S. workforce — or 100,000 workers — by 2025 to help its employees move into more advanced jobs or find new careers. The retail and tech giant intends to expand its existing training programs and introduce new ones. The planned program is among the biggest corporate retraining initiatives ever announced, at a cost of roughly $7,000 per worker, or $700 million. Amazon and other companies have struggled to find technically qualified


Amazon.com on Thursday unveiled plans to retrain a third of its U.S. workforce — or 100,000 workers — by 2025 to help its employees move into more advanced jobs or find new careers. The retail and tech giant intends to expand its existing training programs and introduce new ones. The planned program is among the biggest corporate retraining initiatives ever announced, at a cost of roughly $7,000 per worker, or $700 million. Amazon and other companies have struggled to find technically qualified
Amazon plans to spend $700 million to retrain a third of its US workforce in new skills Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: terri cullen, lauren thomas
Keywords: news, cnbc, companies, tech, training, employees, programs, program, plans, 700, spend, skills, million, workers, stores, amazon, workforce, retrain, fulfillment, technical


Amazon plans to spend $700 million to retrain a third of its US workforce in new skills

Jeff Bezos, founder of Amazon and Blue Origin speaks during the JFK Space Summit, celebrating the 50th anniversary of the moon landing, at the John F. Kennedy Library in Boston, June 19, 2019.

Amazon.com on Thursday unveiled plans to retrain a third of its U.S. workforce — or 100,000 workers — by 2025 to help its employees move into more advanced jobs or find new careers.

The retail and tech giant intends to expand its existing training programs and introduce new ones. The training will be voluntary, and most of the programs are free.

Programs will help workers “access training to move into highly skilled technical and non- technical roles across the company’s corporate offices, tech hubs, fulfillment centers, retail stores, and transportation network, or pursue career paths outside of Amazon,” the company said in a statement.

Amazon’s retraining programs will include:

Amazon Technical Academy, which equips non-technical employees with the skills to transition into software engineering careers;

Associate2Tech, which trains fulfillment center associates to move into technical roles;

Machine Learning University, which offers employees with tech backgrounds the opportunity to access machine learning skills;

Amazon Career Choice, a pre-paid tuition program designed to train fulfillment center associates in high-demand occupations of their choice;

Amazon Apprenticeship, a Department of Labor certified program that offers paid intensive classroom training and on-the-job apprenticeships with Amazon; and

AWS Training and Certification, which provide employees with courses to build practical AWS Cloud knowledge.

The planned program is among the biggest corporate retraining initiatives ever announced, at a cost of roughly $7,000 per worker, or $700 million.

Amazon and other companies have struggled to find technically qualified U.S. employees. More advanced training for workers hired to work in Amazon warehouses is occurring in an increasingly competitive environment with the unemployment rate hovering below 4%.

Major retailers like Walmart and Target have been raising pay and boosting training to lure more quality employees and to make the experience in stores less stressful.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: terri cullen, lauren thomas
Keywords: news, cnbc, companies, tech, training, employees, programs, program, plans, 700, spend, skills, million, workers, stores, amazon, workforce, retrain, fulfillment, technical


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Boeing 737 program manager to retire amid crisis over jet’s grounding

Mark Jenks, who has worked on Boeing’s potential new mid-market airplane (NMA) project, will assume the role as lead of the 737 program, McAllister said. Since his first job as a liaison engineer, to his current job leading the 737 program and Renton site, Eric has worked across Commercial Airplanes. Mark Jenks will step into the position to lead the 737 program and Renton site. With Mark’s move, we also have the opportunity to continue to invest in the NMA development. His strong track record o


Mark Jenks, who has worked on Boeing’s potential new mid-market airplane (NMA) project, will assume the role as lead of the 737 program, McAllister said. Since his first job as a liaison engineer, to his current job leading the 737 program and Renton site, Eric has worked across Commercial Airplanes. Mark Jenks will step into the position to lead the 737 program and Renton site. With Mark’s move, we also have the opportunity to continue to invest in the NMA development. His strong track record o
Boeing 737 program manager to retire amid crisis over jet’s grounding Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: emma newburger, michael sheetz
Keywords: news, cnbc, companies, president, role, program, boeing, crisis, amid, 737, eric, grounding, retire, nma, mark, jets, development, vice, manager, service


Boeing 737 program manager to retire amid crisis over jet's grounding

Mark Jenks, who has worked on Boeing’s potential new mid-market airplane (NMA) project, will assume the role as lead of the 737 program, McAllister said.

Mike Sinnett, Boeing Commercial Airplanes vice president of product development and future airplane development, will also take over as vice president for NMA in addition to his current role, according to the memo.

Here’s the full memo:

“These are unprecedented times for us, as our primary focus remains the safe return of service for the 737 MAX and driving quality and safety in all that we do.

To that end, I am grateful to Eric Lindblad for his strong leadership and tireless drive over the past 12 months leading the 737 program, as he has navigated some of the most difficult challenges our company has ever faced. He shared with me his desire to retire last year, and we will now begin to embark on a thoughtful and seamless transition plan.

For the past 34 years, Eric has dedicated his career to Boeing. Since his first job as a liaison engineer, to his current job leading the 737 program and Renton site, Eric has worked across Commercial Airplanes. Over the past three decades, Eric has made an impact on countless employees and has led some of the biggest bets of our business. And, he has done it through a lens of doing what’s right and continuing to ensure our relentless focus on safety and quality.

I have admired Eric’s resolve and drive, and we are grateful for his service and dedication.

Mark Jenks will step into the position to lead the 737 program and Renton site. He will work closely with Eric over the next several weeks to ensure a seamless transition as we approach the safe return to service of the 737 MAX.

As the vice president of the New Mid-Market (NMA) program, Mark has led all aspects of the development program ranging from the business case to the definition of the production system, services offerings and airplane configuration. Mark also led the 787 program during some of its most challenging of years, and has held several leadership roles within Boeing’s defense and space businesses. A true One Boeing leader, Mark will leverage his learnings and expertise for our 737 program as we carefully and fully return to the 737 MAX to service and meet our customer commitments.

With Mark’s move, we also have the opportunity to continue to invest in the NMA development. I’m pleased to announce that Mike Sinnett will assume the role of vice president for the NMA in addition to his current role leading the Product Strategy and Future Airplane Development Team. Let me be clear – the NMA team will continue to operate as a program, and I am looking forward to Mike’s leadership in this important effort. Before leading the Product Strategy and Future Airplane Development organization, Mike served as vice president and chief project engineer for the 787 program. His strong track record of new development programs will be instrumental to the long-term success of the NMA program. Mike will also continue to play a pivotal role in our stakeholder and customer outreach efforts on the MAX certification and return to service efforts.

All three of these leaders have consistently demonstrated a One Boeing approach to their work, and have been living the Boeing Behaviors. Please join me in congratulating Eric on his planned retirement, and welcoming Mark and Mike to their new leadership roles. “


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: emma newburger, michael sheetz
Keywords: news, cnbc, companies, president, role, program, boeing, crisis, amid, 737, eric, grounding, retire, nma, mark, jets, development, vice, manager, service


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How a single mom of four switched careers to land a six-figure salary

After separating from her husband in June, single mom Shannon Lance found herself suddenly needing to earn enough to support four children. Lance began her job search after completing an intensive 14-week program with Washington-based Coding Dojo. Just six days after beginning her job hunt, Lance secured a six-figure offer from travel expenses firm SAP Concur. “I was (previously) a teacher and had a bunch of professional experience that gave me soft skills which helped land the job,” she said. H


After separating from her husband in June, single mom Shannon Lance found herself suddenly needing to earn enough to support four children. Lance began her job search after completing an intensive 14-week program with Washington-based Coding Dojo. Just six days after beginning her job hunt, Lance secured a six-figure offer from travel expenses firm SAP Concur. “I was (previously) a teacher and had a bunch of professional experience that gave me soft skills which helped land the job,” she said. H
How a single mom of four switched careers to land a six-figure salary Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: chloe taylor
Keywords: news, cnbc, companies, learning, switched, experience, program, single, work, salary, mom, coding, land, careers, job, didnt, career, lance, sixfigure


How a single mom of four switched careers to land a six-figure salary

After separating from her husband in June, single mom Shannon Lance found herself suddenly needing to earn enough to support four children. “I have a teaching degree but (teaching) won’t pay the bills for a family of five – it’s just not an option,” she told CNBC. “I thought about nursing, but the biggest drawback was that it required going back to school for two years to get another degree – I didn’t have two years, I have kids and bills to pay.” Despite being a self-confessed technophobe, Lance decided to learn computer coding after a suggestion from her brother-in-law, taking the plunge into an entirely new career path. Lance began her job search after completing an intensive 14-week program with Washington-based Coding Dojo. Just six days after beginning her job hunt, Lance secured a six-figure offer from travel expenses firm SAP Concur. In an interview with CNBC, she shared her tips on achieving success in a new career.

Value your ‘soft skills’

Although a career change can set you back in terms of direct industry experience, Lance urged others not to underestimate the value of basic core capabilities that appeal to employers — like strong communication or leadership skills. “I was (previously) a teacher and had a bunch of professional experience that gave me soft skills which helped land the job,” she said. “(That was) combined with having just coming out of a great program which gave me all the right tech skills.”

Be willing to learn

As well as considering how your skillset could be transferred to a new industry, Lance told CNBC that having the right attitude was a real asset when it came to landing a job with no direct experience. She said she was upfront about what she could and couldn’t do, taking the approach: “I don’t know a lot about it, but I do know a little bit – and I’m willing to learn more.” According to Lance, embracing those knowledge gaps and showcasing a desire for self-improvement could be just as valuable as experience to some employers. “For the job I got, the company was starting a new team that would be using new technology, so we’d all be learning whether they hired somebody with experience or not,” she said. “They wanted people who were capable of learning quickly and who could work and learn under pressure. Going through Coding Dojo proved I had those capabilities and that desire to keep learning.”

Work your own way

Although Lance didn’t feel intellectually limited while learning to code, she said comparing her own pace of work to others’ sometimes led to unnecessary frustration and could impact her confidence. “One challenge was the amount of time it took to get through everything. I don’t think I had trouble with the actual program, but I didn’t have any tech background, so every assignment would take me one and a half times as long as everyone else,” she told CNBC. “Some of the people in my group had played on computers since they were 12 — so the assignments only took 20 to 30 minutes for them to complete.” She said it was important to find your own way to get work done, rather than sticking to the chronological or seemingly “correct” method. Her coding program was organized into three sections, and when she initially attempted to do each assignment in order, Lance found herself falling behind. “I’d have to skip forward and go back again – that’s not a good strategy,” she said. Instead, she got through all of the reading and learning materials for each topic before attempting to complete an assignment. “Make sure you do the reading and homework way before you start struggling with (graded assignments and technical work),” she said. “And make sure you allow yourself enough time outside of class to get stuff done.” Lance also advised those considering a career change not to overestimate their own academic ability. “I was pretty good in school and didn’t have to study a lot,” she said. “I went into Coding Dojo thinking I could get it done quicker, underestimating how much time it would consume. (You have to let it) take as long as it takes.”

Seek support to switch career


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: chloe taylor
Keywords: news, cnbc, companies, learning, switched, experience, program, single, work, salary, mom, coding, land, careers, job, didnt, career, lance, sixfigure


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Bernie Sanders faces backlash over war machine he brought to Vermont

In 2018, Burlington voters approved a resolution asking the Air Force to cancel the basing due to concerns about potential noise pollution. A U.S. Air Force F-35 Lightning II joint strike fighter approaches at Eglin Air Force Base, Florida. “Vermont does not currently have a nuclear mission, nor are there plans for Vermont to have a nuclear mission. ” “The job of the Vermont Air Guard’s 158th Fighter Wing has not changed, ” the statement read. We are unaware of any intention or proposal to equip


In 2018, Burlington voters approved a resolution asking the Air Force to cancel the basing due to concerns about potential noise pollution. A U.S. Air Force F-35 Lightning II joint strike fighter approaches at Eglin Air Force Base, Florida. “Vermont does not currently have a nuclear mission, nor are there plans for Vermont to have a nuclear mission. ” “The job of the Vermont Air Guard’s 158th Fighter Wing has not changed, ” the statement read. We are unaware of any intention or proposal to equip
Bernie Sanders faces backlash over war machine he brought to Vermont Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: daniel bukszpan, lori ioannou
Keywords: news, cnbc, companies, bernie, program, backlash, nuclear, force, faces, nuclearcapable, machine, air, sen, vermont, brought, f35, mission, sanders, war


Bernie Sanders faces backlash over war machine he brought to Vermont

Democratic presidential candidate Sen. Bernie Sanders speaks during a rally in the capital of his home state of Vermont on May 25, 2019, in Montpelier. Scott Eisen | Getty Images

A grassroots antiwar movement

This is not the first time the $1.2 trillion program has faced opposition from Vermont residents. In 2018, Burlington voters approved a resolution asking the Air Force to cancel the basing due to concerns about potential noise pollution. Burlington Mayor Miro Weinberger refused to sign it, in part because of what he described as potential harm to the state economy.

A U.S. Air Force F-35 Lightning II joint strike fighter approaches at Eglin Air Force Base, Florida. U.S. Air Force photo by Samuel King Jr.

“I firmly believe that when the F-35s come, most people will experience the noise impacts to be similar to what they are today,” he said. “And in contrast to that, I think there would be very substantial adverse impacts on the economy and certainly on the airport if we were to choose not to have the F-35s come here or the Air Force were to change its decision. ” Citizens Against Nuclear Bombers in Vermont, meanwhile, oppose the basing of the fighters, revenue be damned. The group includes Ben Cohen of Ben & Jerry’s and environmental activist Bill McKibben, as well as retired military personnel and local business owners. “Locally, we don’t believe this weapon belongs at a commercial airport located in densely populated residential neighborhoods,” James Ehlers, campaign director for Citizens Against Nuclear Bombs in Vermont, told CNBC. Lockheed Martin would not provide a comment for this article, but Capt. Mikel R. Arcovitch of the Vermont National Guard told CNBC that the F-35 Lightning II that’s coming to Burlington International Airport is not nuclear-capable, and there were no plans for that to change.

We don’t believe this weapon belongs at a commercial airport located in densely populated residential neighborhoods. James Ehlers campaign director for Citizens Against Nuclear Bombs in Vermont

“The F-35A’s coming to Vermont will not have the hardware to be nuclear-capable,” Arcovitch said. “Vermont does not currently have a nuclear mission, nor are there plans for Vermont to have a nuclear mission. ” Nuclear-capable or not, the F-35 program has long been the subject of controversy, in part due to potentially disastrous technical problems that have plagued it for years. In 2015 an F-35A experienced “catastrophic engine failure ” during a training mission, and just months later it experienced ejection-seat malfunctions that temporarily resulted in prohibiting pilots weighing less than 136 pounds from flying the plane.

In June, Defense News reported that the jet is still experiencing significant technical problems. These include sudden increases in air pressure inside the cockpit that cause “excruciating” ear and sinus pain in pilots, as well as issues affecting the helmet-mounted display and night-vision camera.

A thorn in the senator’s side

The jet’s presence in Vermont may also pose problems for Sanders as he seeks the nomination of the Democratic party for the presidency. He has long been an opponent of increased defense spending — in May, when he voted against one of the most enormous defense budgets in recent U.S. history — but that same defense spending is critical to Vermont’s economy, and Capt. Arcovitch said that the F-35 program brings in revenue for the state’s growing aerospace sector. “The total number of contractor positions the F-35A creates is around 30,” he said. “All of the jobs are directly, indirectly or related to the aerospace job sector.” He said that those positions include simulator support, personnel to protect classified materials, autonomic logistics information system technicians and field service engineers and specialists. Further jobs include construction workers specific to the F-35A mission, which he said have been good for roughly $60 million in contracts. There will also be approximately 50 aircraft maintainers. Only time will tell if Sen. Sanders’ supporters will overlook his support for this program, which contrasts sharply with his platform. Neither Sen. Sanders nor his office responded to requests for comment, but on March 11 he took part in a joint statement that included Vermont Sen. Patrick Leahy and Vermont Rep. Peter Welch, which not only denied that the F-35 was nuclear-capable but asserted that they would oppose it if it were. “The job of the Vermont Air Guard’s 158th Fighter Wing has not changed, ” the statement read. “Only the plane is changing. We are unaware of any intention or proposal to equip the Vermont Air Guard’s current or future aircraft with nuclear weapons. Should such a proposal be made, we would vigorously oppose it.”


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: daniel bukszpan, lori ioannou
Keywords: news, cnbc, companies, bernie, program, backlash, nuclear, force, faces, nuclearcapable, machine, air, sen, vermont, brought, f35, mission, sanders, war


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What Americans really think the government should do to fix Social Security

It’s no secret that Social Security needs to be tweaked in order to fix the program’s solvency. And research from the latest Aegon Retirement Readiness Survey shows just how far Americans think politicians need to go to shore up the system. Just 8% of Americans surveyed said they think the government should take no action and that the program will be “perfectly affordable” in the future. The most popular answer from respondents, with 32%, said the government should increase overall funding for t


It’s no secret that Social Security needs to be tweaked in order to fix the program’s solvency. And research from the latest Aegon Retirement Readiness Survey shows just how far Americans think politicians need to go to shore up the system. Just 8% of Americans surveyed said they think the government should take no action and that the program will be “perfectly affordable” in the future. The most popular answer from respondents, with 32%, said the government should increase overall funding for t
What Americans really think the government should do to fix Social Security Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: lorie konish
Keywords: news, cnbc, companies, security, americans, transamerica, think, really, fix, overall, social, retirement, action, program, popular


What Americans really think the government should do to fix Social Security

It’s no secret that Social Security needs to be tweaked in order to fix the program’s solvency.

And research from the latest Aegon Retirement Readiness Survey shows just how far Americans think politicians need to go to shore up the system.

Just 8% of Americans surveyed said they think the government should take no action and that the program will be “perfectly affordable” in the future.

“The fact that fewer than one in 10 think that no action is needed is quite telling,” said Catherine Collinson, CEO and president of the Transamerica Institute and Transamerica Center for Retirement Studies.

The most popular answer from respondents, with 32%, said the government should increase overall funding for the program. The next most popular solution, with 21% , supports a balanced approach that would include reducing individual payments and some tax increases. Meanwhile, 18% said the government should reduce the overall cost of Social Security.


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: lorie konish
Keywords: news, cnbc, companies, security, americans, transamerica, think, really, fix, overall, social, retirement, action, program, popular


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