Tag Archives: Said

The Airline Whose Planes Are Said to Break Down In Mid-Air More Often Than Anyone's Is About To Have a Big PR Problem
April 15, 2018 6:00 am|Comments (0)

Absurdly Driven looks at the world of business with a skeptical eye and a firmly rooted tongue in cheek. 

They say you should get out ahead of a bad story.

Present your version before the story hits, so that people can have good feelings about you before aspersions are cast.

I wonder, therefore, what Allegiant Air might do this weekend.

I wrote about this airline a couple of years ago, after it had been accused of having planes that break down four times more often than those of other airlines.

In mid-air, that is.

Of the airline’s 86 planes, it was said that 42 of them had broken down in mid-air the previous year.

The airline fought back and claimed that the accusations were “incendiary.” Indeed, its stock went up 24 percent soon after the original Tampa Bay Times article was published.

Now, though, Allegiant might have a bigger PR problem. 

On Sunday, it’ll be featured in a 60 Minutes segment, one that CBS teases will be twice the usual length.

Here’s the teaser.

Just those 48 seconds suggest that Allegiant should brace for something of calm, considered skewering.

I asked the budget airline what it thought of the upcoming exposé. A spokeswoman told me Allegiant would wait until the segment airs before offering a rebuttal.

One of the main issues with Allegiant’s record of breakdowns is that it flies old planes. Very old planes, some 22 years of age.

Recently, though, it has begun to replace these planes with Airbuses. Indeed, last May was the first time that Allegiant enjoyed the experience of fitting out a new(ish) plane.

The question, then, is how much Sunday’s 60 Minutes piece will reflect the whole current scenario.

The problem for the airline’s PR department, though, is that Allegiant will surely come out looking not so good on one of the most respected news programs in America, one that’s watched by 12 million people.

It’s inevitable, then, that it will instantly be associated with the sort of bad reputation that plagued United Airlines over the last year. 

Worse, perhaps, is the idea that instead of a brutal lack of customer sensitivity — as in the United case — Allegiant might be tarred with the notion that it’s simply an unsafe airline.

On Friday, the airline’s stock began to drop. What might happen to it on Monday?

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Tesla said to make 2,000 Model 3s per week, stock down
April 2, 2018 6:05 pm|Comments (0)

(Reuters) – Tesla Inc (TSLA.O) was reported to be making 2,000 of its Model 3 sedans per week, enough to ease stock market nerves around billionaire Elon Musk’s electric carmaker on Monday after a week dominated by news of a crash involving its semi-autonomous autopilot.

Musk told employees in a company-wide email on Monday that Tesla had just passed the 2,000 per week rate, according to auto website Jalopnik.

That was short of its 2,500 per week target but a big increase on the 793 Model 3s that the company built in the final week of last year. It produced 2,425 of the cars in the whole fourth quarter. [nL4N1OY42A

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Tesla shares recovered from an 8 percent loss before the Jalopnik report filtered into markets to trade down 3.5 percent on the day. bit.ly/2uFdEBr

The company did not immediately respond to requests for comment.

Jalopnik also quoted Musk in the email to employees as saying: “If things go as planned today, we will comfortably exceed that number over a seven day period!”

Reporting by Sonam Rai in Bengaluru, Editing by Peter Henderson and Patrick Graham

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SoftBank considers IPO for Japan wireless unit, said to seek $18 billion
January 15, 2018 6:00 am|Comments (0)

TOKYO (Reuters) – SoftBank Group Corp (9984.T) said on Monday it was considering listing its Japanese wireless business, seeking to raise a reported $ 18 billion in a move that would accelerate the conglomerate’s transformation into one of the world’s biggest tech investors.

A spin-off – potentially the biggest IPO by a Japanese company in nearly two decades – would also give the unit more autonomy as well as help investors with valuing the business and its parent.

SoftBank Group, which saw its shares climb 4 percent on the news, has a vast range of holdings including stakes in British chip designer ARM Holdings ARM.L, struggling U.S. wireless service provider Sprint Corp (S.N) as well as Alibaba Group Holding Ltd (BABA.N).

It has with other investors also set up a $ 93 billion Vision Fund, that is investing in range of firms to capitalize on a tech future expected to be driven by artificial intelligence, robotics and interconnected devices.

SoftBank Group plans to sell some 30 percent of SoftBank Corp, raising around 2 trillion yen ($ 18 billion) that would go towards investments in growth, such as buying into foreign information-technology companies, the Nikkei newspaper said without citing sources.

It plans to seek approval from the Tokyo Stock Exchange as early as spring and aims to debut in Tokyo as well as overseas, possibly London, around autumn, the business daily said.

SoftBank Group said in a statement that a listing of the business was one option for its capital strategy but that no such decision had been made.

A 2 trillion yen ($ 18 billion) IPO would be one of the biggest listings by a Japanese company, rivaling the 2.2 trillion yen 1986 offering of Nippon Telegraph and Telephone Corp (9432.T) as well as a 2.1 trillion yen listing by NTT DoCoMo Inc (9437.T) a decade later.

“It makes sense to spin off the mobile-phone business using a public offering that would leave SoftBank in control and provide SoftBank with more cash to pursue its strategy of investing in companies with potentially high growth prospects,” Erik Gordon, a professor at the University of Michigan’s Ross School of Business.

“It is a way of obtaining capital without adding debt or diluting SoftBank’s equity interests in the growth companies.”

The domestic telecoms unit, Japan’s No. 3 wireless carrier, posted a 4.5 percent rise in operating profit to 720 billion yen in the year ended March on sales of 3.2 trillion yen.

SoftBank Group’s complicated structure and constant stream of new investments have left many investors struggling to value the company with analysts often noting that its market value does not accurately reflect the value of its massive holdings.

SoftBank’s market value currently stands at around $ 92 billion. By contrast, its near 30 percent stake in Alibaba is worth around $ 140 billion.

Large companies seeking to list in Tokyo are required to float at least 35 percent of their shares although these rules can be eased when the company is also listing overseas.

Reporting by Yoshiyasu Shida and Sam Nussey; Additional reporting by Chris Gallagher and Minami Funakoshi; Writing by William Mallard; Editing by Edwina Gibbs

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To Protect Privacy, Apple’s Smart Speaker Said To Have Opt-In Camera Capabilities
September 26, 2016 5:55 pm|Comments (0)

The Apple smart speakers are said to have cameras that recognize individual people.


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Update: Apple said to move part of cloud business from AWS to Google
March 19, 2016 10:20 pm|Comments (0)

Apple has moved some of its iCloud and services data from Amazon Web Services to Google’s cloud platform, in what is seen as a bid by the iPhone maker to diversify its cloud service providers, according to reports.

The move comes even as the company is building its own new data centers, leading to speculation whether the shift is only temporary.

Google is a rival of Apple in smartphones and other devices, but such deals are common among tech companies in areas where they don’t compete. 

After signing the deal with Google late last year, Apple has significantly reduced its reliance on AWS, whose infrastructure it has been using to run parts of iCloud and other services, reported CRN, quoting sources with knowledge of the matter. The publication put Apple’s spending with Google at between $ 400 million and $ 600 million, though it added it wasn’t clear whether the figures referred to an annual spending rate or a set amount of capacity.

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