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☆ I was put on a PIP in my director-level job and fantasized about quitting. So I quiet quit for 3 months before actually walking out.
▼ + stars: | 2023-08-14 | by ( Jamie Killin | ) www.businessinsider.com time to read: +6 min

After being placed on a PIP, he 'quiet quit' for 3 months before leaving in January. Within a couple of weeks I was assigned another project, which turned out to be the worst project I've ever worked on. I started warning leadership and my peers that it wasn't going to get doneI told them we needed way more resources if we were going to do it right. That harmed me as a director — I essentially became a really expensive business analyst who wasn't making any money for the firm. After being placed on my PIP, I realized this wasn't the job for me, but I needed to ride it out to make ends meet.

Persons: John Garvens, I've, —, Michael Phelps, — I'd, I'd, I'm Organizations: Service Locations: Wall, Silicon, Freeport , Illinois, Revenue, —

☆ Israel's Netanyahu cools censure of protesting reservists as judicial crisis simmers
▼ + stars: | 2023-08-14 | by ( Dan Williams | ) www.reuters.com time to read: +3 min

Protest leaders say thousands of reservists have stopped reporting for duty. "Brothers in Arms", a reservist protester group, seemed unmoved by the gesture, accusing Netanyahu of playing down risks to military readiness. The Supreme Court will on Sept. 12 hear arguments against a bill limiting some of its powers to void government decisions, which was ratified in a parliament controlled by Netanyahu's religious-nationalist coalition. The military has so far acknowledged a "limited" impact from the reservist protest, citing the loss of some veteran instructors from the air force's flight school. As of now, the IDF (Israel Defence Forces) can handle its missions and the goal is to put this matter behind us," he said.

Persons: Benjamin Netanyahu's, Amir, Benjamin Netanyahu, Netanyahu, IMPACT Netanyahu, Amos Gilad, Tzachi Hanegbi, Dan Williams, Emelia Sithole Organizations: Arms, REUTERS, JERUSALEM, IMPACT, Army Radio, National, Army, IDF, Israel Defence Forces, Thomson Locations: Kiryat Ono, Israel, Iran, Lebanon, Israeli, Syria

Charles Kohnen, co-founder of the submersible manufacturer SEAmagine Hydrospace, estimates that there are 200 manned vessels worldwide. Some are used by scientific institutions, others for tourism. But a growing number belong to a select group of yacht owners. “It’s not like a fancy car,” Kohnen said. “It’s more like a $5 million spacecraft.”Just as having a helicopter and launchpad on a yacht was hot in the 1980s, Kohnen said, getting a personable submersible is increasingly a thing for the wealthy.

Persons: Charles Kohnen, “ It’s, ” Kohnen, “, Kohnen

☆ Why this viral photo of the world’s largest cruise ship is polarizing opinion
▼ + stars: | 2023-08-10 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +7 min

CNN —The world’s largest cruise ship hasn’t welcomed a single passenger aboard yet, but it’s already set the internet on fire. But when an image of its stern section went viral in July, it polarized opinions, eliciting passionate reactions on all sides. The ship will be home to the world's largest water park at sea. “I think the Royal Caribbean enthusiasts are going to look at this and go ‘Wow, something new! “Royal Caribbean is notable for exceeding 100% capacity on their ships.

Persons: hasn’t, —, Hieronymus Bosch, Tom Davis, ” Davis, ”, Adam Cox, Jonathan Abramowitz, Ross Klein, “, Stewart Chiron “, Stewart Chiron Organizations: CNN, Walmart, University of Alabama, Royal Caribbean, University of North, Memorial University of Newfoundland, Royal Locations: Dutch, “, University of North Carolina, Chapel, Royal Caribbean, Miami, “ Royal Caribbean

☆ How to watch Virgin Galactic's first space tourist launch 300,000 feet above the ground
▼ + stars: | 2023-08-10 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +5 min

Virgin Galactic plans to launch its first space tourist flight. Watch it here:Who are Virgin Galactic's first space tourists? These are the first commercial passengers to fly aboard Virgin Galactic's first private commercial spaceflight, due to take off Thursday. "The whole team just swarmed into my house saying 'You're the winner, you're going to space,'" Schahaff told the BBC. This is Virgin Galactic's second commercial flight and the first to carry paying customers.

Persons: Richard Branson's Virgin, Sir Richard, Jon Goodwin, Keisha Schahaff, Virgin Galactic's, Virgin Galactic Goodwin, Goodwin, Schahaff, Anastatia Mayers, Beth Moses, Richard Branson, Elon Musk, OceanGate Organizations: Virgin, Service, VSS Unity, Virgin Galactic, Sky News, BBC, University of Aberdeen, Italian Air Force, National Research Council of Italy, Galactic's, Galactic Locations: Wall, Silicon, Munich, nought, Antigua, London, Caribbean, Scotland, New Mexico

☆ Chaos in the Hamptons: Tracy Anderson devotees gripe about $5,500 mats, $90 classes, and power struggles among 'queen bees'
▼ + stars: | 2023-08-09 | by ( Katie Warren | ) www.businessinsider.com time to read: +8 min

"You can't just work out; you can't just enjoy it," another former Hamptons trainer added. Several pointed out that TA's longtime Hamptons studio manager left just before the summer season, and a current Hamptons trainer said the manager hadn't been replaced. One person who attends drop-in Hamptons classes said she tried to get into classes for weeks but couldn't get off the waiting list. Katia Pryce, the founder of DanceBody in NYC, worked as a TA trainer more than 10 years ago. A-listers such as Paltrow and Robert Downey Jr. have had TA trainers come to their Hamptons homes for private sessions.

Persons: Tracy Anderson, Michael Rubin's, —, Anderson, Anna Kaiser, Dani Levi, they're, Anderson didn't, Neil Rasmus, BFA.com, nonmembers, nonmember, hadn't, Nonmembers, couldn't, Katia Pryce, Pryce, Gwyneth Paltrow, Madonna, She's, Megan Roup, Roup, Tracy Anderson's, Rachel Murray, Paltrow, Robert Downey Jr, Elisa Arcaya, they'd, Arianna Siegel, Levi, Irene Nederlof, Claudia Saez, Fromm, she'd Organizations: White Party, Hamptons, TA, Hampton, Getty Locations: Southampton, Sag, Tribeca, Water, California, Madrid, NYC, New York, Manhattan, Los Angeles, Amsterdam, New York City, London, Miami

☆ A mother-daughter duo will join an 80-year-old Olympian on Virgin Galactic's first space tourism flight on Thursday. Here's how to watch live.
▼ + stars: | 2023-08-08 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +5 min

Virgin Galactic plans to launch its first space tourist flight on Thursday. These are the first commercial passengers to fly aboard Virgin Galactic's first private commercial spaceflight, due to take off Thursday. Keisha Schahaff won her tickets through a raffle while on a Virgin flight from Antigua to London in 2021. "The whole team just swarmed into my house saying 'You're the winner, you're going to space,'" Schahaff told the BBC. This is Virgin Galactic's second commercial flight and the first to carry paying customers.

Persons: Richard Branson's Virgin, Sir Richard, Jon Goodwin, Keisha Schahaff, Virgin Galactic's, Virgin Galactic Goodwin, Goodwin, Schahaff, Anastatia Mayers, Beth Moses, Richard Branson, Elon Musk, OceanGate Organizations: Virgin, Service, New Mexico's, Sky News, Virgin Galactic, BBC, University of Aberdeen, Italian Air Force, National Research Council of Italy, VSS Unity, Galactic's, Galactic Locations: Wall, Silicon, New, America, Munich, nought, Antigua, London, Caribbean, Scotland, New Mexico

☆ 'Shark Tank' investor Kevin O'Leary warns of more regional bank failures as the Fed presses ahead with interest-rate increases
▼ + stars: | 2023-07-28 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

"Shark Tank" investor Kevin O'Leary has warned of more regional bank failures as the Fed keeps raising interest rates. "You keep squeezing the toothpaste tube, you keep rolling it up, you keep raising rates, and you know things are going to break," he said. The Fed announced a quarter-point rate rise on Wednesday in a bid to cool inflation down to 2%. The collapses of Silicon Valley Bank, Signature Bank, and First Republic, have shown the damage higher interest rates have done to smaller US lenders. "We've started to see the cracks, the Titanic has not [sunk]," O'Leary said of the bank collapses.

Persons: Kevin O'Leary, Jerome Powell, We've, " O'Leary Organizations: Fed, Service, Federal Reserve, CNBC, Valley Bank, Signature Bank, First Locations: Wall, Silicon, First Republic, United States

☆ OceanGate's cofounder wants to send 1,000 people to a floating colony on Venus by 2050, and says we shouldn't stop pushing the limits of innovation
▼ + stars: | 2023-07-28 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +9 min

By 2050, he would like to see 1,000 humans living in the sulfuric acid clouds of Venus. The businessman's latest — and possibly grandest — endeavor is to send 1,000 humans to live in Venus' atmosphere by 2050. Söhnlein hasn't let the recent events dampen his ambition and claims humanity needs to continue pushing the limits of innovation. Sending humans to Earth's evil twinThough it's often called "Earth's twin," Venus doesn't seem like the ideal place for humans to thrive. The Titan submersible.

Persons: Guillermo Söhnlein, Stockton Rush, Söhnlein hasn't, Söhnlein, shouldn't, OceanGate, Rush, Shannon Stapleton, Khalid Al, Ali, Elon Musk, Mark Zuckerberg, we'd, Andrew Coates, Coates Organizations: Service, OceanGate Expeditions, NASA, Anadolu Agency, Getty Images, Venus, Stockton Rush, Reuters, Innovation, Rush, University College's, Science Laboratory Locations: Wall, Silicon, Söhnlein, Stockton

☆ Wealthy travelers are chartering yachts for millions of dollars a week to see extreme destinations like Antarctica
▼ + stars: | 2023-07-27 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

EYOS Expeditions offers wealthy travelers yacht charters to explore remote and desirable destinations. Travelers can charter these yachts and receive a curated vacation itinerary for up to millions of dollars a week. EYOS has seen a rising interest in vacations to destinations like Antarctica. After news about the Titan submersible tragedy, there's a good chance you've judged wealthy travelers who want to blow their money on risky vacations to remote destinations. Travelers with ultra-deep pockets and an extreme travel itch to scratch have been turning to another option: EYOS Expedition.

Persons: EYOS Organizations: EYOS Expeditions, Morning Locations: Antarctica

☆ Opinion: Twitter is gone. Now we’ll see how many people make X their ‘ex’
▼ + stars: | 2023-07-25 | by ( Opinion Bill Carter | ) edition.cnn.com time to read: +6 min

For a whole lot of people, the latter best describes how they are feeling about Twitter, the live social conversation app. Having overseen — devised, really — the demise of Twitter, Musk has also created a reasonable chance that he could now be in charge of a complete brand blowout, should this daring reboot eventuate in extinction for X. The app formerly known as “Twitter” had almost 370 million users globally in December of last year, after Musk paid (overpaid) $44 billion to buy it. Less than a year later, it is already down to 353 million users, and Statista projects the number will decline to 335 million in 2024. Threads reached 100 million users in five days, which was surely the biggest case in history of rustling wandering strays from the herd.

Persons: Bill Carter, Bill Carter Fred Conrad, it’s, Elon Musk, —, Musk, anoint, Molotov, Imran Ahmed, “ Elon Musk, Linda Yaccarino, Twitter ”, can’t Organizations: The New York Times, CNN, HBO, Twitter, Black, Center, San Francisco, SpaceX, Meta, Facebook, SNL, Nike

"Tourism has been on the slow burner for decades in the Darien," said longtime Panamanian tour guide Rick Morales. Tourists and migrants rarely meet face to face; the routes are almost always separated by dozens of miles. Reuters GraphicsTrip advertising does not mention the humanitarian crisis. At the same time, it acknowledged a "catastrophic humanitarian crisis" in a separate part of the Darien due to migration. Travel Darien Panama is an Indigenous-owned tour operator that says on its website it aims to help fund schools and improve living conditions in their village.

Persons: Franca Ramirez, Ramirez, Rick Morales, Marco Wanske, Kisbel Garcia, Alejandra Peña, Luis Eguiluz, Lorri Krebs, Mark Fischer, Morales, Carmelita Cansari, Nina Van Maris, Van Maris, Daina Beth Solomon, Laura Gottesdiener, Elida Moreno, Stephen Eisenhammer, Claudia Parsons Organizations: MEXICO CITY, Pan, Organization for Migration, Reuters, Tourists, Reuters Graphics, Adventure Travel Trade Association . Social, REUTERS, UNESCO, Salem State University, Tourism Ministry, U.S ., U.S, U.S . State Department, Big, Maria, Thomson Locations: MEXICO, Panamanian, Venezuela, Darien, Panama, Americas, United States, Mexico, Alaska, Argentina, Afghanistan, Africa, U.S, selfies, Ecuador, Haiti, Acandi, Colombia, Central America, Salem , Massachusetts, Greece, Texas, Travel Darien Panama, Luxembourg, Mexico City, Monterrey, Panama City, Maria Laguna

☆ Opinion: Messi mania meets USWNT three-peat fever
▼ + stars: | 2023-07-22 | by ( Opinion Amy Bass | ) edition.cnn.com time to read: +7 min

On the other side of the world in Auckland, the USWNT took down World Cup newcomer Vietnam 3-0. It was nonsense to worry about what to watch or whether Messi would upstage the women. MLS chief Don Garber, for one, says he’s not worried about the impact Saudi money could have on the ability of the MLS to expand into markets outside the US, especially as it failed to win Messi. Friday may have been the first time in his life that Messi was someone else’s opening act. The USWNT did what was expected, beating a lesser team in Vietnam, but they also have a lot of work in front of them.

Persons: Amy Bass, Read, Lionel Messi, Amy Bass Rodney Bedsole, Cruz Azul, Messi, Pelé, David Beckham, Cristiano Ronaldo’s, Al Nassr, LIV, Don Garber, he’s, Messi subbed, ” Garber, “, ”, Inter Miami’s, King ” LeBron James, Sophia Smith, —, Trinity Rodman, Rodman, Tran Thi, Alex Morgan, Tran Thị Kim Thanh, Captain Lindsey Horan, Megan Rapinoe, David, anyone’s, Brenda Elsey, England, Sam Kerr Organizations: Manhattanville College, CNN, Major League Soccer’s Inter Miami, US, National, Cruz, Leagues, Vietnam, National American Soccer League’s New York Cosmos, Inter Miami, Messi, LA Galaxy, MLS, Saudi Pro, Major League Soccer, Inter, Trinity, Colombian, Twitter, Facebook, Canada, Haiti Locations: Florida, New Zealand, Fort Lauderdale, Auckland, American, Miami, Inter Miami, Vietnam, Haiti, Philippines, Zambia, Germany, Morocco, Qatar, Nigeria

☆ Please for the love of god don't go poking around US shipwrecks, the government says
▼ + stars: | 2023-07-20 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

The Department of Transport warned people off exploring US shipwrecks in a notice Monday. All US shipwrecks are under MARAD's authority, it said, no matter where or when they sunk. At the same time, several governments have in recent weeks expressed alarm at what appears to be large-scale looting of WWII shipwrecks, which are regarded as war graves. According to the DOT notice, shipwrecks are "highly vulnerable to illegal salvage." The dredger was found to have recovered highly valuable steel and cannon shells, CNN reported.

Persons: MARAD, Andre Seale Organizations: Transport, Service, Department of Transport, Federal, VW, Getty, Atmospheric Administration, US Naval Institute, CNN, Guardian, Java Locations: Wall, Silicon, United States, Spiegel, Key Largo , Florida, USA, Malaysian, South China

☆ So what happens if the world's largest cruise ship — 5 times bigger than the Titanic — hits an iceberg?
▼ + stars: | 2023-07-19 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

The Icon of the Seas, set to sail in January, is five times the size of the Titanic. If it did strike ice, Royal Caribbean says it has enough lifeboats and rafts for everyone on board. Turns out it is very rare for a cruise ship today to strike an iceberg, but it's not impossible. Cruise ships rely on radar technology and satellite monitoring to avoid collisions with icebergs. Thankfully cruise ships today are also better prepared for disaster.

Persons: it's, Stewart Chiron, Guy, Chiron, there's Organizations: Royal, Morning, Seas, New York Times, Norwegian Cruise Line, USA Today, Passengers Locations: Royal Caribbean, Norwegian, Alaska

☆ ‘Oppenheimer’ Review: A Man for Our Time
▼ + stars: | 2023-07-19 | by ( Manohla Dargis | More About Manohla Dargis | ) www.nytimes.com time to read: +2 min

“Oppenheimer,” Christopher Nolan’s staggering film about J. Robert Oppenheimer, the man known as “the father of the atomic bomb,” condenses a titanic shift in consciousness into three haunted hours. The movie is based on “American Prometheus: The Triumph and Tragedy of J. Robert Oppenheimer,” the authoritative 2005 biography by Kai Bird and Martin J. Sherwin. The atomic bomb and what it wrought define Oppenheimer’s legacy and also shape this film. “Oppenheimer” is a great achievement in formal and conceptual terms, and fully absorbing, but Nolan’s filmmaking is, crucially, in service to the history that it relates. The story tracks Oppenheimer — played with feverish intensity by Cillian Murphy — across decades, starting in the 1920s with him as a young adult and continuing until his hair grays.

Persons: “ Oppenheimer, ” Christopher Nolan’s, Robert Oppenheimer, J, Kai Bird, Martin J, Sherwin ., Nolan, Oppenheimer, Oppenheimer —, Cillian Murphy —, Jean Tatlock, Florence Pugh, boozer, Kitty Harrison, Emily Blunt Organizations: Manhattan Engineer District, Manhattan Locations: Hiroshima, Nagasaki, Los Alamos, New Mexico, Pacific

☆ James Cameron says AI-produced scripts are regurgitated 'word salad' and are unlikely to replace human writers
▼ + stars: | 2023-07-19 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

"Titanic" and "Avatar" director James Cameron doesn't think AI will replace human writers. Cameron said he "certainly" wasn't interested in AI writing his scripts, but he could be forced to reassess his stance in the future. The Writers Guild and Screen Actors Guild are currently on strike for the first time since 1960. A significant factor in their protest is the fear of being replaced by AI, Insider previously reported. Richard Walter, the former chairman of UCLA's screenwriting program, told Insider writers should not fear AI.

Persons: James Cameron doesn't, Oscar, James Cameron, Cameron, they've, we've, Timnit Gebru, Emily M Bender, Oppenheimer, —, Richard Walter Organizations: CTV News, Canada's CTV, Guild, Screen, Writers Guild of America, TechCrunch, Microsoft

☆ James Cameron denies Titanic submersible movie speculation
▼ + stars: | 2023-07-17 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —James Cameron is not working on a project tied to the OceanGate submersible tragedy. “I don’t respond to offensive rumors in the media usually, but I need to now,” Cameron tweeted. Hamish Harding, Shahzada Dawood, Suleman Dawood, Paul-Henri Nargeolet and Stockton Rush perished as they attempted to reach the historic the ship wreckage in a submersible known as the Titan. Cameron told CNN at the time that he had suspected an implosion had occurred. CNN has reached out to reps for Cameron for additional comment.

Persons: James Cameron, Oscar, ” Cameron, “ I’m, Cameron, Hamish Harding, Shahzada Dawood, Suleman Dawood, Paul, Henri Nargeolet, Stockton Rush Organizations: CNN, Twitter, Stockton

☆ How the wreckage of the Titanic was found during a secret US Navy mission to recover nuclear submarines
▼ + stars: | 2023-07-17 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +3 min

It took 73 years to find the wreckage of the Titanic in the North Atlantic Ocean. Decades later, Ballard revealed that the dive was actually a secret Cold War Navy mission. But the dive initially had nothing to do with the Titanic at all — it was a secret mission to find the wrecks of two nuclear submarines, the USS Scorpion and the USS Thresher. Of course, nobody knew that until 2008, when Ballard revealed the true nature of the mission to National Geographic. So, 23 years later, Ballard revealed the truth about his mission.

Persons: Robert Ballard, Ballard, Jean, Louis Michel, Bettmann, Ronald Thunman, Xavier Desmier Organizations: Navy, Service, Titanic, USS, Geographic, National Geographic, US Navy, Soviet Union Locations: Wall, Silicon, French, Soviet

☆ Fact Check-Revived Titanic-Olympic ‘switch’ conspiracy sunk by ships’ differences
▼ + stars: | 2023-07-14 | by ( Reuters Fact Check | ) www.reuters.com time to read: +7 min

In particular, design differences between the Titanic and Olympic, visible in photographs of the two ships, are consistent with the wreckage of Titanic being, in fact, Titanic, and making the switch theory implausible. Another of the ships, Olympic, was put into service the year before, on June 14, 1911, and retired in 1935, with many of its fixtures and fittings auctioned off before it was scrapped. Magellan and its collaborator Atlantic Productions released sample images and animations of the Titanic wreck site scans to media outlets in May 2023, which can be viewed (here), (here). Olympic’s hull number was 400, and Titanic’s was 401. “Meanwhile,” Layton said, “the Titanic’s correct hull number, 401, has been observed at the wreck site and on items recovered from the wreck.

Persons: Robert John Welch, J, Kent Layton, ” Layton, Olympic’s, Layton, Titanic’s, Tim Maltin, Read Organizations: Titanic, Facebook, National Museums Northern, White Star Lines, Olympic, Belfast shipyard, Library of Congress, Bain News Service, Getty, Magellan Ltd, Atlantic Productions, HULL, Reuters Locations: Atlantic, Belfast , Northern Ireland, National Museums Northern Ireland, Southampton, England, New York, Titanic

Vertical thrusters Horizontal thruster Viewport Horizontal thruster Vertical thrusters Horizontal thruster Viewport Horizontal thruster Titanium hemisphere Carbon fiber cylinder Titanium hemisphere Titanium hemisphere Carbon fiber cylinder Titanium hemisphereTitan had several cost-saving departures from proven submersible designs. And Titan’s carbon fiber cylinder was attached to titanium hemispheres, creating several joints of dissimilar materials that are challenging to bond properly. Titan Hull The pressure applied to a pill shape is distributed disproportionately and may cause collapse similar to a soda can being crushed. Titan The Polar Prince towed the Titan submersible through a harbor in St. John’s, Newfoundland, in May. Dolores Harvey/Alamy Alvin Alvin is brought out to sea aboard a scientific ship like Atlantis, shown here lifting Alvin over the water.

Persons: Hull, Alvin Hull, OceanGate, Oisin Fanning Alvin, Alvin, Tim Foecke, ”, Foecke, Rush, Arnie Weissmann, Dolores Harvey, Alvin Alvin, Andrew Von Kerens, submersibles, Alfred S, McLaren, Navy submariner, Kedar Kirane, Mr, Kirane Organizations: Titan, The New York Times, Oceangate, Oceanographic, Alvin, Stockton Rush, Travel, Explorers Club of New Locations: St, John’s, Newfoundland, Navy, Explorers Club of New York City

☆ ‘The Red Hotel’ Review: The Concierge Was a Communist
▼ + stars: | 2023-07-12 | by ( Joshua Rubenstein | ) www.wsj.com time to read: 1 min

Photo: Alamy Stock PhotoThe detention of Journal reporter Evan Gershkovich by the Russian government is a reminder of how hazardous distant postings can be in the midst of war—how vulnerable reporters are to the whims of a foreign power. In “The Red Hotel,” Alan Philps takes us to Russia in the midst of World War II, when Stalin imposed extraordinary restrictions on dozens of Western journalists who had been dispatched to Moscow to cover, as he puts it, “the titanic struggle between the then undefeated divisions of Hitler’s Wehrmacht and Stalin’s largely peasant army whose officer class had been shredded in the purges of the 1930s.”

Persons: Evan Gershkovich, ” Alan Philps, Stalin, ” Organizations: Wehrmacht Locations: Russian, Russia, Moscow

☆ SEC to vote on new money-market rules Wednesday that industry opposes
▼ + stars: | 2023-07-12 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

The SEC is expected to vote on new rules for money-market funds Wednesday. Increase in liquidity requirements Most money market funds invest exclusively in cash or government securities. Some, known as "prime" money market funds, also invest in commercial paper. All are subject to liquidity requirements (some assets have to be readily convertible to cash), including levels of daily and weekly liquidity requirements. The Securities Industry and Financial Markets Association (SIFMA), an industry trade group, wrote to the SEC, expressing "substantial concerns" about the liquidity requirements.

Persons: Jon, Luc Dupuy, SIFMA, Kenneth Bentsen, Brad Sherman, Sherman, Dupuy, redemptions Organizations: SEC, Federal, Bloomberg, CNBC, Asset Management, Investment Funds, Securities Industry, Financial Markets Association

☆ New Map Shows Titan Submersible Debris’s Proximity to Titanic Wreck
▼ + stars: | 2023-07-10 | by ( William J. Broad | More About William J. Broad | ) www.nytimes.com time to read: +1 min

The company that possesses the exclusive salvage rights to the Titanic shipwreck and the ship’s artifacts filed in federal court on Saturday a map of the surrounding seabed that shows where searchers found the twisted remains of the Titan submersible. The map, a mosaic of sonar images that were annotated by experts at the company, RMS Titanic Inc., helps indicate how close the craft was to its intended destination when disaster struck. The vehicle very likely imploded on the morning of Sunday, June 18, killing all five crew members. RMS Titanic’s director of underwater research was on the last dive of the tourist submersible as a guest of Titan’s owner, OceanGate. The seabed map, attached to a legal filing as an exhibit, shows the ghostly outline of Titanic’s bow section.

Organizations: Titan, Titanic Inc

☆ In Djuna’s Space-Elevator Sci-Fi, Corporate Conspiracies Abound
▼ + stars: | 2023-07-09 | by ( Hari Kunzru | ) www.nytimes.com time to read: +2 min

By the 1960s, the idea developed into that of the “space elevator,” a transport system consisting of a cable attached to the earth’s surface near the Equator, anchored by a counterweight out beyond geosynchronous orbit. Though popular with science fiction writers and the longer-haired kind of engineer, space elevators remain theoretical. In “Counterweight,” by the pseudonymous Korean science fiction writer Djuna, nanotubes are part of the intellectual property of the sprawling, multinational LK corporation. Caught up in the dragnet is a hapless midlevel LK employee called Choi Gangwu, who is in regular contact with one of the Liberation Front’s agents. Detained by the company for his involvement with the resistance, Choi is instructed to meet his contact, who he appears to believe is just a fellow butterfly enthusiast.

Persons: Anton Hur, Konstantin Tsiolkovsky, LK, Mac, Choi Gangwu, Choi Organizations: Djuna, LK, Liberation, Mac Locations: Patusan, Southeast Asia

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