A YEAR ago Dennis Muilenburg, the chief executive of Boeing, the American aerospace giant, had a problem. Tweets written by Donald Trump, America’s newly elected president, were hitting Boeing’s share price. Initially buoyed by Mr Trump’s promise of extra spending on defence, the firm's share price fell in December 2016 when he suggested in a tweet that an order for new presidential planes worth $ 4bn should be cancelled. After the president elect picked a fight with Lockheed Martin, a rival planemaker, Boeing’s executives were left in fear of being the next target.And so, it seemed, Mr Muilenburg came up with a plan. Boeing would snuggle up to Mr Trump’s “America First” agenda to avoid the flack. Boeing started to stress in its press releases how many American jobs it was creating; it ask
CHOOSING a hotel for a trip is generally seen as an apolitical decision. In contrast, restaurants and cafes have sometimes taken on an ideological tinge, with conservatives mocking liberals for their latte coffees, and liberals ribbing conservatives for their deep-fried everything and well-done steaks. But for most hotel users, location and good Wi-Fi matter more than the ideology of the owners. In some places that now appears to be changing: a trend turbocharged since the arrival of Donald Trump, an owner of an international hotel brand, in politics.Suddenly the new Trump International Hotel in Washington, DC—on the same street as the White House and Capitol building—became the most politically-charged building in the city, if not the country. Celebrity chefs scrapped their plans to open
Earnings season is upon us, with all four of the nation's biggest banks set to report third-quarter results this week. JPMorgan Chase (NYSE: JPM) and Citigroup (NYSE: C) will kick things off on Thursday, followed by Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) on Friday.Here's what to expect from Bank of America's performance in the three months ended Sept. 30, 2017.Image source: Getty Images.Bank of America's 3Q earnings previewGenerally speaking, Bank of America's earnings are expected to rise. In the third quarter of last year, the nation's second-biggest bank by assets earned $ 0.41 per share. The consensus estimate for the just completed quarter, by contrast, pegs the bank's earnings per share at $ 0.46, which would translate into a 12% inc...
WHEN North Korea said on September 3rd that it had developed a hydrogen bomb, adding that it could be used for a “super-powerful” high-altitude electromagnetic pulse (HEMP) attack, America’s electricity industry was already on alert. Sceptics tend to dismiss as far-fetched the idea that the rogue regime would knock out the electricity grid by detonating a nuclear bomb high in the atmosphere. Regulators have not mandated safety measures. But the utilities are taking it seriously enough.They are more than a year into a three-year programme, funded by about 60 electricity firms, to understand the potential impact of a HEMP attack on the generation and transmission of electricity, and to find ways to shield the network. Such concerns are not new. In 1962, when America exploded nuclear devices
LAST year, Bob Fornaro, the boss of Spirit Airlines, talked of the effort his firm had made to reduce the number of customer complaints. The ultra-low-cost carrier, dubbed the most hated airline in America by Bloomberg, had long been ranked as a primary purveyor of passenger pain, regularly propping up lists that rate airline service. Alas, Mr Fornaro’s efforts seem to have gone unrewarded. Complaints per passenger remain easily the highest of any of the big American operators. In fact, as our chart shows, things seem to be getting worse.One consolation for Spirit is that the same is true of nearly all its competitors. Of the 12 biggest carriers in the country, only Hawaiian saw a (tiny) decrease in complaints in April 2017, compared with a year earlier. Delta, Virgin America and ExpressJe