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A marine robotics company recently captured an object on the ocean floor, about 15,000 feet below the surface of the Pacific Ocean. Earhart’s flight plan was well known. According to Earhart biographer Doris Rich, the US government had obtained permits for the countries she would stop in along the way. And it fit her need of a refueling stop in the western Pacific Ocean. In 1997, pilot Elgen Long and his wife Marie Long published the book, “Amelia Earhart: The Mystery Solved.” The Longs laid out facts and solid suppositions for others to follow.
Persons: Dorothy Cochrane, Read, Dorothy Cochrane Carolyn Russo, Amelia Earhart, Fred Noonan, Howland, Earhart, , , Tony Romeo, Romeo, Noonan, Doris Rich, Roosevelt, Earhart’s, George Putnam, Rich, Itasca, Elgen Long, Marie Long, “ Amelia Earhart, reengineered, Lockheed Electra NR16020, Electra Organizations: General Aviation, Aeronautics Department, National Air and Space Museum, Smithsonian Institution, CNN, Lockheed, US Coast Guard, DSV, Coast Guard personnel, Nauticos Inc Locations: Howland Island, Lae , New Guinea, United States, Howland, Itasca, Honolulu , Hawaii
Read previewThe race is on to find the wreckage of Amelia Earhart's ill-fated final flight. Tony Romeo and his company, Deep Sea Vision, discovered an object of similar size and shape to Amelia Earhart's iconic plane, deep in the Pacific Ocean. Deep Sea VisionRomeo says he may have solved the mystery with his sonar scans. The same aircraft radio receiver used by Amelia Earhart was recreated by Nauticos as they researched Earhart's final transmissions. Deep Sea Vision now leases its equipment to other ocean explorers to continue funding its mission.
Persons: , Amelia Earhart's, Tony Romeo, Earhart, Fred Noonan, Romeo, he's, we've, there'll, it'll, Lockheed Electra, Nauticos, Jeff Morris, Amelia Earhart, Morris, I'm, David Jourdan, Tony, You'll Organizations: Service, US Air Force, Business, Smithsonian, Lockheed, Lockheed Electra, Coast Guard, Topical Press Agency, Getty Locations: South Carolina, Howland, Hawaii, Australia, Connecticut, Itasca, Howland Island, Norwegian, Kongsberg
Saudi mega-city NEOM sets up $10 bln JV with Denmark's DSV
  + stars: | 2023-10-24 | by ( ) www.reuters.com   time to read: +1 min
General view of NEOM in northwestern Saudi Arabia, January 11, 2021. REUTERS/Hamad I Mohammed/File photo Acquire Licensing RightsDUBAI, Oct 24 (Reuters) - Saudi Arabia's $500 billion flagship project NEOM on Tuesday set up a $10 billion joint venture (JV) with Denmark's DSV (DSV.CO), the world's third-largest freight forwarder, they said in a joint statement. "The partnership will focus on providing logistics services for NEOM in the coming years," the statement said, adding NEOM will hold 51% of the joint venture and DSV 49%. "The joint venture will provide end-to-end supply chain management, development and investments in transport and logistics assets and infrastructure as well as transport and delivery of goods and materials within NEOM," the companies said. The kingdom's sovereign wealth fund, the Public Investment Fund, is the cornerstone investor in NEOM, a 26,500-square-km (10,230-square-mile) high-tech development on the Red Sea.
Persons: Hamad I Mohammed, Saudi Arabia's Crown Prince Mohammed bin Salman, Yousef Saba, Jason Neely Organizations: REUTERS, Rights, Denmark's, Saudi Arabia's Crown, NEOM, Public Investment Fund, Thomson Locations: Saudi Arabia, Rights DUBAI, Saudi, NEOM
Barber, who spent nearly 35 years working at package delivery company UPS before retiring in early 2020, joined the C.H. Robinson board as a director late last year. A spokesperson for the company said there is "no update" on the search, noting "the CEO role at C.H. The Board is committed to conducting, and is underway on, an open and inclusive search to find our next CEO." Last year Reuters reported that Danish transport and logistics company DSV A/S (DSV.CO) was interested in buying C.H.
Robinson Worldwide Inc. is standing its ground against an activist investor pushing for a quick and wide-ranging overhaul of the country’s biggest freight broker as the company battles declining freight demand and growing competition. Robinson’s international freight forwarding business, a central goal of investor Ancora Holdings Group LLC as it seeks an overhaul of the business. Robinson executives said on the Wednesday earnings call that the global forwarding arm, which moves freight by air and ocean, is essential to the company’s success. Robinson is by far the largest player in the U.S. domestic freight brokerage market that matches freight shippers with available trucks. It is also among the top two U.S.-based companies in the global forwarding market that transports cargo by air and ocean.
PREVIEWDave Edwards, the chief executive at Greenville-Spartanburg, said just over a decade ago his airport had no international air cargo operations. BMW today accounts for about a quarter of Greenville-Spartanburg’s roughly 15 international cargo flights a week. Air cargo volumes fell through most of last year as manufacturers and retailers pulled back on orders because of slowing consumer spending. Rockford, about 70 miles from Chicago O’Hare International Airport, has become one of the most successful regional airports for cargo. It is a hub for United Parcel Service Inc. and has attracted air operations for companies including Amazon.com Inc., DSV and A.P.
Robinson Worldwide Inc. has reached an agreement to work with its activist investors as analysts said new board member Jim Barber would be a strong candidate to lead the company. Robinson’s board. Robinson’s then board chair as interim CEO as the board said it would start an immediate search for a permanent successor. Robinson’s board, said Monday that Mr. Biesterfeld’s firing was a board decision. Robinson has retained executive search firm Russell Reynolds Associates Inc. to find a permanent chief executive.
Freight Broker C.H. Robinson Ousts CEO Bob Biesterfeld
  + stars: | 2023-01-03 | by ( Liz Young | ) www.wsj.com   time to read: +6 min
Mr. Anderson, 56, stepped down as chair, a position he has held since 2020. Mr. Anderson doesn’t plan to be considered as a candidate for the permanent position, according to the securities filing. Robinson and this exceptional team,” Mr. Biesterfeld said in a statement released by the company. Robinson is by far the largest player in the U.S. freight brokerage market, one that matches freight shippers with available trucks. “We got ahead of ourselves in terms of head count,” Mr. Biesterfeld said on Nov. 2.
Logistics Companies Are Reversing Their Hiring Binge
  + stars: | 2022-11-04 | by ( Liz Young | ) www.wsj.com   time to read: +4 min
The hiring frenzy in logistics driven by pandemic-fueled shopping appears to be cooling off. “We got ahead of ourselves in terms of head count,” said Bob Biesterfeld, chief executive of C.H. Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. Chief Executive Judy McReynolds said the company would now look to get “greater efficiency” from the people it already employs. “We aren’t really hiring other than filling vacancies and whatnot,” Chief Executive Greg Gantt said on an Oct. 26 earnings call.
JP Morgan Swiss head Bossart moves to Rothschild & Co
  + stars: | 2022-09-29 | by ( Oliver Hirt | ) www.reuters.com   time to read: +2 min
ZURICH, Sept 29 (Reuters) - U.S. investment bank JP Morgan's head of Switzerland, Nick Bossart, is moving to Rothschild & Co (ROTH.PA) to lead its Swiss advisory business for mergers and capital market transactions, two people familiar with the situation told Reuters. With Bossart, the French investment bank wants to expand its market share in Switzerland. During this time, he made JP Morgan the third-largest investment bank in Switzerland after Credit Suisse (CSGN.S) and UBS (UBSG.S). Before joining JP Morgan, he worked at Deutsche Bank (DBKGn.DE) and UBS. JP Morgan had said in July that Bossart was leaving and would be replaced by Reinout Böttcher.
Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. But this complex movement of goods underpinning the global economy is far more vulnerable than many imagined. The Biden administration narrowly avoided a systemwide freight rail shutdown last week after brokering a last-minute deal between railroads and unions. The Biden administration narrowly avoided a systemwide freight rail shutdown last week after brokering a last-minute deal between railroads and unions. The labor concerns have grown as some of the broader pandemic-driven upheaval in supply chains, including factory closures and vessel backlogs at ports, have eased.
Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. But this complex movement of goods underpinning the global economy is far more vulnerable than many imagined. The Biden administration narrowly avoided a systemwide freight rail shutdown last week after brokering a last-minute deal between railroads and unions. The Biden administration narrowly avoided a systemwide freight rail shutdown last week after brokering a last-minute deal between railroads and unions. The labor concerns have grown as some of the broader pandemic-driven upheaval in supply chains, including factory closures and vessel backlogs at ports, have eased.
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