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The company was founded by Thomas Edison in 1892 and built into the world’s largest and most valuable company by the once legendary, but now oft-criticized CEO Jack Welch. General Electric home appliances are displayed for sale at an appliance store in San Jose, California, in 2019. But the despite the name, the company had already sold off its appliance business three years earlier. Its shares nearly doubled, rising 95%, in 2023, and were up another 37% this yearGE Aerospace will retain the longtime GE stock symbol, and Culp as its CEO. Some have suggested he could be the successor for Dave Calhoun, the retiring CEO of another troubled iconic US company, Boeing.
Persons: Thomas Edison, Jack Welch, Larry Culp, David Paul Morris, divestitures, Culp, Jason Redmond, Dave Calhoun Organizations: New, New York CNN, GE, Dow Jones, Walgreens Boots Alliance, General Electric, Bloomberg, Getty, NBC, Comcast, GE Capital, AAA, GE Healthcare, GE Aerospace, GE Vernova, Boeing, CNBC Locations: New York, San Jose , California, China, Everett , Washington, AFP
Read previewA Boeing whistleblower who quit over concerns about the company's 737 Max production told Politico that the FAA had "no presence" at the factory he worked in. Two months after Pierson's resignation, a Lion Air Boeing 737 Max crashed into the sea in October 2018, killing all 198 people on board. The company faced backlash again in January of this year after a door plug on an Alaska Airlines Boeing 737 Max 9 blew off mid-flight . Pierson told the publication. AdvertisementPierson told Politico that he still feels unsafe on Boeing Max planes — so much so that he refuses to fly on them.
Persons: , Max, Ed Pierson, Calhoun, Pierson, Dave Calhoun, JASON REDMOND, That's Organizations: Service, Boeing, Politico, FAA, Lion Air Boeing, Business, Ethiopian Airlines, New York Times, NBC News, Alaska Airlines Boeing, Max, CNBC, Alaska Airlines, Boeing Renton Factory, Getty, Foundation for Aviation Safety, Boeing Max, FFA Locations: Renton , Washington, AFP, Northwest, Seattle, New York, Alaska, Wichita , Kansas
“I don’t believe that you should be worried,” says Geoffrey Thomas, an aviation safety expert and editor in chief of Airline Ratings, which publishes an annual list of the safest airlines. The list of the world’s safest airlines is topped by Air New Zealand, Qantas, Virgin Australia, Etihad Airways, Qatar Airways, Emirates, All Nippon Airways, Finnair and Cathay Pacific. Charly Triballeau/AFP/Getty Images“Aviation is the safest mode of transportation,” says Anthony Brickhouse, a professor of aviation safety at Florida’s Embry-Riddle Aeronautical University. “Unfortunately, with the Japan Airlines accident, we did lose five people on the military aircraft, but everybody made it off of the civilian aircraft. Remote in probabilityDespite concerns, the Boeing 737 has a better safety record than the 747, experts say.
Persons: , Geoffrey Thomas, it’s, , Thomas, Charly Triballeau, Anthony Brickhouse, Florida’s Embry, Brickhouse, Max, we’ve, Willie Walsh, Arnold Barnett, That’s, we’re, ” Barnett, Jason Redmond, Barnett Organizations: CNN, Alaska Airlines, Max, Boeing, , Airbus, Air New Zealand, Qantas, Virgin Australia, Etihad Airways, Qatar Airways, Emirates, All Nippon Airways, Finnair, Cathay Pacific, Getty, Florida’s, Riddle Aeronautical University, US Federal Aviation Administration, National Transportation Safety Board, Japan Airlines Airbus, Tokyo Coast Guard, FAA, Japan Airlines, NTSB, Reuters, Massachusetts Institute of Technology, European Union, United Locations: AFP, Tokyo, Japan, Africa, Latin America, Asia, Australia, Canada, China, Israel, New Zealand, Norway, Switzerland, United Kingdom, United States
Jason Redmond | AFP | Getty ImagesWhen Satya Nadella replaced Steve Ballmer as Microsoft CEO in February 2014, the software company was mired in mediocrity. Many tech industry analysts and investors would say that, thanks largely to Nadella, Microsoft is now set up to be a powerhouse for the foreseeable future. In a 2020 interview, Pat Gelsinger, then CEO of VMware, said offering his company's software on Microsoft's Azure cloud was akin to a "Middle East peace treaty." Nadella is perhaps best known in the tech industry for pushing Microsoft deeper into cloud computing. While some in the younger generations have Microsoft software at work, it's not necessarily what they grew up using and may not be what they prefer.
Persons: Satya Nadella, Bing, Jason Redmond, Steve Ballmer, Aravind Srinivas, Jeff Bezos, Nadella, Aaron Levie, Levie, Larry Ellison, David Paul Morris, Pat Gelsinger, Michael Nathan, Nathan, he'd, He's, Nat Friedman, Friedman, Kevork Djansezian, Ballmer, Kevin Dallas, I've, Dallas, it's, Gen Z, OpenAI's, Commission's Lina Khan, Sam Altman, Altman, OpenAI isn't, hasn't, Jefferies Organizations: Microsoft, AFP, Getty, Apple, Google, Amazon, Oracle Corp, Oracle, Bloomberg, VMware, Intel, Linux, Ballmer, Los Angeles Clippers, Microsoft Corp, Nokia, Activision Blizzard, Adobe, Activision, Federal, U.S . Justice Department, CNBC Locations: Redmond , Washington, San Francisco, Microsoft's, Silicon Valley, Los Angeles , California, U.S, Europe
Boeing is back in the headlines for all the wrong reasons again after the Alaska Airlines 737 Max 9 incident. Boeing workers participating in a "Quality Stand Down" at Boeing's 737 Max factory in Renton, Washington on January 25, 2024. One of the first Boeing 737 Max jets on the production line at the company's manufacturing facility in Renton, Washington, U.S., on Monday, Dec. 7, 2015. The airlines around the world that have already bought Boeing planes basically need to keep using those models, whatever the problems. Commercial pilots are certified on specific models and are not able to easily move from single-aisle to widebody versions of Boeing jets, let alone between a Boeing and an Airbus jet.
Persons: I’m, Dave Calhoun, we’ve, , , Calhoun, Max, Jason Redmond, Stan Deal, Ed Pierson, McDonell Douglas, Critics, ” Ron Epstein, McDonnell Douglas, Jim McNerney, Tammy Duckworth, Aaron Schwartz, ‘ We’re, Richard Aboulafia, Joshua Drake, Boeing Calhoun, Bank of America’s Epstein, it’s, Pierson, Max ”, Robert Clifford, people’s, ” Calhoun, David Ryder, Aboulafia, Boeing’s Organizations: New, New York CNN, Boeing, Alaska Airlines, National Safety Transportation Board, Pilots, Max, Alaska Air, Getty, Foundation for Aviation Safety, CNN, “ Boeing, Bank of America, General Electric, Procter, Gamble, McKinsey, Co, GE, Associated, Pentagon, Capitol, FAA, Airbus, Joshua Drake Photography, Blackstone Group, Nielsen, Bank of, Aviation, Bloomberg, Ethiopian Aircraft Accident, US National Transportation Safety Board, Internal Locations: New York, Renton , Washington, AFP, Alaska, Soviet Union, Pacific, Chicago, Seattle, Washington, DC, Mobile , Alabama, Wichita, Oklahoma, Carolina, South Carolina, Calhoun, Indonesia, Ethiopia, Renton , Washington , U.S
The 737 Max 9 flown by Alaska Airlines on Friday was delivered less than three months ago. United Airlines and Alaska Airlines, the largest operators of the 737 Max 9, on Saturday said they suspended flights with those planes, forcing the carriers to cancel more than 400 flights. Boeing's leadership has spent roughly five years regrouping after the 2018 and 2019 fatal crashes of its smaller and more popular Boeing 737 Max 8, which prompted a worldwide grounding of both the Max 8 and Max 9, the two types flying commercially. According to Jefferies, the 737 Max 9 represents just 2% of Boeing's backlog of more than 4,500 Max planes. Richard Aboulafia, managing director at aviation consulting firm Aerodynamic Advisory, said the problem on the Alaska Airlines plane appears to be a manufacturing defect, not an inherent design flaw.
Persons: Jason Redmond, Max, Jim Hall, I've, we've, Dave Calhoun, Calhoun, he's, Jennifer Homendy, Aerosystems, John Goglia, Jefferies, Richard Aboulafia Organizations: Reuters Boeing, Alaska Airlines, Federal Aviation Administration, FAA, National Transportation Safety Board, Boeing, United Airlines, Regulators, Airbus, hasn't, Wall Street, NTSB Locations: Renton , Washington, Portland , Oregon, Ontario , California, Portland, United, Alaska
Amazon (AMZN) said on Wednesday that it's offering Prime members a discount on its new health-care service — another perk that should help bring more people into the online retailer's ecosystem. It provides members unlimited 24/7 access to virtual care as well as in-person, and remote primary care services. Prime members can add up to five people from their family to the One Medical plan for an additional $6 a month. Amazon offering a discounted subscription to One Medical's services is part of the company's efforts to expand the broader Prime flywheel by leveraging its 167 million Prime members. The goal of the Amazon Prime membership is to provide people with "one simple membership, something that provides shopping, savings, streaming and now positive health outcomes, said Jamil Ghani, SVP of Amazon Prime in a CNBC interview Wednesday.
Persons: Jeff Marks, It's, Tom Forte, Forte, Andy Jassy, Davidson, there's, Jamil Ghani, Jim Cramer's, Jim Cramer, Jim, John Love, Jason Redmond Organizations: Amazon, D.A, Amazon Web Services, Amazon Pharmacy, Amazon Prime, CNBC, Robotics Research, AFP, Getty Locations: Davidson, Sumner , Washington
Insider Today: Tech workers are bummed
  + stars: | 2023-10-17 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
AdvertisementAdvertisementIn today's big story, we're looking at why some tech workers don't love their jobs anymore. Many factors led to the shift, from significant layoffs in Big Tech to in-office mandates and financial pressure due to high interest rates. AdvertisementAdvertisement(Interestingly enough, Terrazas writes that workers in non-tech roles — like human resources and marketing — report the highest job satisfaction at Big Tech companies.) But it feels like tech workers themselves will end up having to do a bit of recalibration. Working in Big Tech has become a job like any other corporate gig.
Persons: Alyssa Powell, tech's, Aaron Terrazas, Terrazas, Insider's Hugh Langley, Grace Kay, Garry Gensler, Drew Angerer, Gary Gensler, Janet Yellen, it's, Satya Nadella, JASON REDMOND, ADAM GRAY, didn't, Israel, Don't, Rae Dunn, Jim Jordan, Jada Pinkett, Pinkett Smith, Will Smith, Goldman Sachs, Lockheed Martin, Johnson, Leah Kern, Joe's, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Sigma, Insider Tech, Big Tech, Tech, Terrazas, SEC, Getty, LinkedIn, Tesla Edinburgh, Amazon, Republican, Bank of America Locations: Big, Israel, Ukraine, AFP, Tesla, Temple, El, New York City, York, San Diego, London, New York
Former Starbucks CEO Howard Schultz speaks during his book tour in Seattle, Washington, U.S., January 31, 2019. In March, Schultz defended himself and the company against allegations of "union busting" at a U.S. Senate committee hearing. Schultz, 70, stepped down as CEO in March after he returned to the helm for the third time. He oversaw a major revamp in technology at Starbucks' stores during his latest stint, doubling down on equipment and employee training to improve service. Other members on the board include Microsoft (MSFT.O) CEO Satya Nadella and former Domino's Pizza (DPZ.N) boss Richard Allison.
Persons: Howard Schultz, Jason Redmond, Schultz, Stephens, Joshua Long, Wei Zhang, Zhang, Satya Nadella, Richard Allison, Deborah Sophia, Sriraj Organizations: Starbucks, REUTERS, U.S, Wall Street, Alibaba, Alibaba Pictures, Microsoft, Thomson Locations: Seattle , Washington , U.S, U.S, Bengaluru
Some AI models that compete against Stack Overflow were partly trained on the company's data. Online communities, like Stack Overflow and Wikipedia, thrived as hubs for experts and curious browsers to come together and share information freely. In 2021, Prosus, a major backer of Chinese tech giant Tencent, bought Stack Overflow for $1.8 billion. However, Nat Friedman, the CEO of Github through 2021, expects tech companies to pay for training data in the future. Stack Overflow is also working on new ways to measure the impact of a human's answer on the platform.
Persons: Prashanth Chandrasekar, OpenAI, Chandrasekar, coders, OpenAI's GPT, Stack, Elon Musk, Andreessen Horowitz, Sam Altman, JASON REDMOND, Jaap Arriens, GitHub, it's, chatGPT, Nasim Uddin, we're, Nat Friedman, Nat Friedman GitHub Friedman, Friedman, Axel Springer, Semafor, Prashanth Organizations: Union Square Ventures, Getty, Twitter, Publishers, Microsoft, Associated Press Locations: GPT, Prosus, AFP
[1/2] Employees are pictured as the first Boeing 737 MAX 7 is unveiled in Renton, Washington, U.S. February 5, 2018. REUTERS/Jason Redmond/File PhotoCHARLESTON, South Carolina, May 31 (Reuters) - The certification of the Boeing 737 MAX 7 is taking a "considerable amount of time" due to new documentation requirements, but the company still believes it can be certified by the end of the year, a Boeing Co (BA.N) official said on Wednesday. Both the MAX 7 and MAX 10 are seen as critical for Boeing to compete against Airbus SE (AIR.PA) for orders at the top and bottom of the narrowbody markets. The planemaker is also "close" to receiving FAA approval to begin certification flights of its new 737 MAX 10, Fleming told reporters. Certification of that aircraft is still projected to occur in 2024, but will depend on when Boeing is approved to begin those flights, he said.
Persons: Jason Redmond, Mike Fleming, Boeing's, Fleming, Valerie Insinna, Richard Chang, Matthew Lewis Organizations: Boeing, REUTERS, Boeing Co, Airbus, Southwest Airlines Co, Federal Aviation Administration, Thomson Locations: Renton , Washington , U.S, CHARLESTON, South Carolina, Charleston , South Carolina
In other news:Tech workers are searching for low stress jobs on social media. Tech workers are looking for less stressful jobs. But one Amazon worker said there's "no such thing as [a] high pay low stress job in tech." Love Love Love: Award-winning engagement photos from around the world. Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Alistair Barr (tweet @alistairmbarr) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.
I'm Diamond Naga Siu, and I don't dream of labor (I do occasionally have dreams about writing the newsletter). And hiring managers told my colleague Aki Ito that it's currently incredibly difficult to find and hire enough qualified people. The country that wins the competition over the batteries of the future will not only control the electric vehicle market. Lopez gives us a front-seat look at the landscape of the critical EV battery market. A leaked email revealed that Musk now wants to approve all new hires — including contractors — at Tesla.
Microsoft unveiled new versions of its Bing internet-search engine and Edge browser powered by the newest technology from ChatGPT maker OpenAI. Of the 50 companies on this year's list, 21 told us that AI is critically important to more than 50% of their revenue. Half of the companies in the top 10 of the 2023 CNBC Disruptor 50 list feature key use of AI, and notably, they represent a diverse range of industries and use cases. OpenAI CEO Sam Altman speaks during a keynote address announcing ChatGPT integration for Bing at Microsoft in Redmond, Washington, Feb. 7, 2023. The call to slow down is, in fact, less safe than what they're proposing," he said, referring to OpenAI and Altman.
Developers are linking arms with OpenAI to access the large language models powering their apps. In doing so, OpenAI has its tentacles in hundreds of Silicon Valley startups. OpenAI's artificial intelligence technology is now baked into hundreds of apps, making it one of the key levers that help companies and their developers be more productive. The latest company utilizing the company's large language models is Superhuman, an email app with a cultish following. The feature came together so fast, according to Akshay Kothari, the third cofounder and chief operating officer, because Notion hadn't done the grunt work of training a large language model itself.
REUTERS/Jason Redmond/File PhotoPARIS/WASHINGTON, April 19 (Reuters) - Planemakers have signalled a shift in production strategy to make factories more resilient to recent supply disruptions by adding "surge capacity," even where that means extra cost. "We live in a supply constrained environment ... Our focus is on both capacity and quality. "To support the supply chain, we've increased on-site presence, we've ramped up internal fabrication for surge capacity and we've increased inventory of select parts for risk protection." DEFENDING AVERAGE OUTPUTPlanemakers only rarely speak of "surge capacity" in the aerospace production system, which is seen as more capital-intensive and less nimble than in consumer-facing industries. Although auto firms rely heavily on overtime to meet peak demand, analysts say there are examples of automakers installing surge capacity for a successful product.
Can ChatGPT be a doctor?
  + stars: | 2023-04-10 | by ( Asia Martin | ) www.businessinsider.com   time to read: +4 min
My colleague Emilia David will take over for the rest of this week until Diamond Naga returns from her much-needed vacation. Can ChatGPT be a doctor? One physician said the AI chatbot was "better than many doctors" he's observed when it came to clinical diagnosis. The doctor said the diagnosis didn't differ from what he would have determined. ChatGPT may have passed the exam, but it's still unable to take the Hippocratic oath, where doctors swear to abide by a set of professional ethical standards.
New York CNN —Senator Bernie Sanders, who has roundly criticized former Starbucks CEO Howard Schultz over the company’s blatant attempts to shut down its own workers’ unionization efforts, will finally get to question Schultz during a Senate hearing Wednesday. It’s a relatively small number compared to the roughly 9,300 company-operated Starbucks stores in the United States. Howard Schultz at the Starbucks annual shareholder meeting in Seattle, Washington on March 22, 2017. “Starbucks respects the right of all partners to make their own decisions about union representation,” Schultz said. In prepared remarks for the hearing, Schultz argued that “Starbucks has engaged in good faith bargaining,” saying that delays are coming from the union.
Powering AI Dungeon's text-generation software was the GPT language technology offered by the Microsoft -backed AI research lab OpenAI. The high cost of training and "inference" — actually running — large language models is a structural cost that differs from previous computing booms. Many entrepreneurs see risks in relying on potentially subsidized AI models that they don't control and merely pay for on a per-use basis. Companies making the foundation models, semiconductor makers, and startups all see business opportunities in reducing the price of running AI software. "Latitude is going to continue to evaluate all AI models to be sure we have the best game out there."
[1/2] The Shell Oil Company's drilling rig Polar Pioneer is shown in Port Angeles, Washington May 12, 2015. The number of rigs drilling for oil peaked in late November, roughly 25 weeks after prices peaked, slightly longer than average. The current slowdown in drilling is therefore likely to reduce production growth through the end of 2023 and probably into 2024. Related columns:- U.S. oil production’s post-pandemic rebound set to slow (Reuters, December 2, 2022)- Is the U.S. shale oil revolution over? (Reuters, November 22, 2022)- U.S. oil drilling rises in response to higher prices (Reuters, February 25, 2022)John Kemp is a Reuters market analyst.
Our business is quite strong," Schultz said Tuesday. But Schultz, who rejoined Starbucks as interim CEO in April 2022, will remain on the company's board. The Club take We were encouraged to hear upbeat comments from Schultz around inflation, demand and renewed momentum in China. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Starbucks Chairman and CEO Howard Schultz speaks at the Annual Meeting of Shareholders in Seattle, Washington on March 22, 2017.
On Wednesday, Amazon started its largest round of layoffs in company history after giving employees the heads up that they were coming two weeks earlier. I'm Diamond Naga Siu, and today, we dive into why all Big Tech employees are at risk of losing their jobs. Microsoft's layoffs proves that there is no such thing as a safe tech company to work at right now. The list of tech layoffs is long: Facebook, Amazon, Meta, Twitter, Salesforce, Microsoft, and more. The SVP of People Experience and Technology sent two missives on the first official days of Amazon layoffs.
Brewer, 60, is chasing a new first of sorts in her role at Walgreens: turning the $33 billion pharmacy chain into a destination healthcare company. After stepping into power at America's second-largest pharmacy during the deadliest disease event in US history, Brewer has been pursuing a wide-ranging strategy to remake the company. The company's larger rival, CVS Health, is following a similar strategy of making healthcare a bigger part of its business. "Dispensing of pharmaceuticals is not going to be our long-term growth avenue," Brewer said at a 2022 healthcare-industry conference, according to FierceHealthcare. But healthcare is complex and even the company's long-standing pharmacy business comes with challenges.
"And I personally think that all of us in Gen Z, when we experienced that with our parents, we were like, 'Fuck that. And now, Gen Z is turning to organizing as a way to stand up to corporate bosses. But she and her Gen Z peers are not ready to accept that mode of thinking. Put simply, young workers want something better than their parents had and aren't afraid to seek it out. Because if there is one quality that Gen Z has in spades, it is audacity — and no mass movement has ever succeeded without it.
What binds them, despite different nationalities, immigration stories, and languages, are warehouse jobs. As Columbus' warehouse development begins encroaching into residential areas, a consensus is gathering here — as it has elsewhere — that warehouses make for poor neighbors. Tariq Tarey for InsiderIn Canal Winchester, Halstead's efforts to put the question of warehouse development before voters were stymied. The town council bypassed her group's referendum by declaring a state of emergency to approve the warehouse development. There aren't clear lines between the winners and losers of Columbus' warehouse boom.
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