Category Archives: Business

Obama Gets It Right

It’s not often I can have a post title like that, but I agree with Glenn:

President Obama was perhaps inspired by a recent article in The Atlantic by Greg Lukianoff and Jonathan Haidt, “The Coddling of the American Mind.” Lukianoff and Haidt describe in some detail the way in which college sensitivities have undermined teaching, to the point that some criminal law professors — in law schools — are afraid to teach about rape, and where “trigger warnings” and concerns about “microaggressions” rule the day.

Rather than respond to such complaints with a suggestion that the complainers might be better off under professional psychological care than enrolled in institutions of higher learning, university administrations have tended to go along, even though the complainers represent a rather small fraction of the student body. The result has been a sort of arms-race of oversensitivity, in which each complaint is trumped by one still sillier, until we have reached the situation that Lukianoff, Haidt — and Obama — deplore, in which student mental health may actually suffer, and professors worry that they’ll be pilloried for saying that something “violates the law” because the word “violates” may trigger rape anxieties.

In Monty Python’s Holy Grail, the knights decide to skip a visit to Camelot because “it is a silly place.” With college costs (as President Obama has also noted) skyrocketing even as students seem to be learning less and finding greater difficulty obtaining suitable employment after graduation, higher education administrators should worry that more and more students will draw a similar conclusion. Perhaps President Obama’s warning will get their attention.

This might be the closest he’s ever come to a “Sister Souljah moment.”

Bernie’s Proposals

They would add $18T to the national debt. That’s essentially doubling it (again, after Obama already did it once), not even counting the unfunded liabilities of social security et al.

Related: BS from Bernie:

Bernie Sanders, the front-runner for the Democratic presidential nomination, spoke at Liberty University today. You can read his speech here. It is useful, in that it exposes the extent of Sanders’s ignorance and radicalism. Any deconstruction of a speech this bad must be selective.

Read the whole fisking. It’s also worth noting, in contrast to when a conservative speaker comes to a leftist college, how politely he was treated.

Aerojet Rocketdyne ULA?

This seems like a really weird story:

Rocket engine maker Aerojet Rocketdyne has offered to buy launch services provider United Launch Alliance from Lockheed Martin and Boeing for at least $2 billion, an industry source told SpaceNews Sept. 8.

The unsolicited bid is the latest twist in what has been a topsy-turvy year for ULA, the primary U.S. government launch services provider.

First, this begs the question of whether the parents would be willing to sell. I’m not sure they’d want to give up control, given the strategic issues involved. An unfettered ULA could be almost as disruptive to their government business (particularly SLS) as SpaceX has been.

Of course, a purchase by AJR would probably pretty effectively fetter them in other ways. The only reason for the company to do this is pure desperation. If Tory gets his way, and they build Vulcan/ACES, and end Atlas, Delta and Centaur, and phase out use of the RL-10 as well (which they’ve been wanting to do for years), AJR is pretty much out of business. But it would be acquiring and preserving launch systems that are already known to be uncompetitive on the future market, and it still needs money to build the AR-1, the RD-180 replacement. Congress seems willing to throw them money for that. But the problem is, even if the taxpayer pays for development, the vehicle itself will remain uncompetitive against SpaceX, since even with the development subsidy, manufacturing costs will be higher than the current price for the RD-180 from Russia.

Which makes this story at Engadget pretty funny:

United Launch Alliance is a joint-venture between Lockheed Martin and Boeing that launches spy and navigation satellites for the Pentagon and Air Force. Now, the firm is the subject of a $2 billion bid from engine business Aerojet Rocketdyne, a company that’s been snubbed in its attempts to power the Atlas V. If the government’s shadowy army of intelligence analysts and accountants approve the deal, it could create a new aerospace behemoth that could leave Elon Musk shivering out in the cold.

Say what? If I were Elon, I’d be cheering this on, for reasons stated above. What I’d be worried about would be a counteroffer from Bezos, because this deal leaves Blue Origin out in the cold, in terms of suddenly having to develop their own rocket for the BE-4. I’ll bet he’s thinking about it. Of course, as I said above, this all presumes that Boeing and Lockmart are willing to sell. It was reportedly an unsolicited bid.

[Update a few minutes later]

Yes, as noted in comments, it’s a third higher than their market cap. And it’s just an opening bid, no way they’d get it for that price. It might be possible to do some kind of mezzanine M&A deal, but it sure looks like a bad bet to me.

[Mid-afternoon update]

SpaceX Return To Flight

Chris Bergin has an extensive story over at NASA Spaceflight.

It would be nice to see them get in four more flights this year, but it seems unlikely. In any event, if they start flying again in November, that would be a pretty fast recovery, in historical terms with other launch failures, particularly with a relatively new vehicle.

[Update a few minutes later]

And here’s a story about Lee Rosen’s announcement in Pasadena that Falcon Heavy will debut this spring.

[Updatea while later]

Bad second link. Fixed now, sorry.