Wynn Resorts Logs Lower Profit, Sales
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Wynn Resorts WYNN 0.65 %increase; green up pointing triangle logged lower profit and revenue in the first quarter as each of its segments posted sales declines, including its key casino unit.
The Las Vegas operator of casinos and resorts on Tuesday posted a profit of $72.7 million, or 69 cents a share, compared with $144.2 million, or $1.30 a share, a year earlier.
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Washington Post
32 minutes ago
- Washington Post
FAA nominee tells senators he will modernize air traffic control system
Bryan Bedford, President Donald Trump's nominee to lead the Federal Aviation Administration, told a Senate panel on Wednesday that if confirmed, he will push the agency to act with urgency on the administration's multi-billion-dollar revamp of the nation's air traffic control system. 'I know change can be hard, but I believe the agency can get back on the right track,' Bedford told members of the Senate Commerce, Science and Transportation Committee at his confirmation hearing on Wednesday. Bedford, 63, the CEO of regional carrier Republic Airways, acknowledged that public confidence in the safety of the nation's airspace has been rattled this year by the midair collision near Reagan National Airport that killed 67 people, as well as by equipment failures that caused thousands of delays and cancellations at Newark Liberty International Airport. He said he is committed to rebuilding trust in the agency, which has seen an exodus of veteran leaders as part of staff reductions championed by the U.S. DOGE Service. 'The FAA is sorely in need of his steady leadership,' said Sen. Ted Cruz (R-Texas), the committee's chairman. 'No Senate-confirmed head of the agency completed a full five-year term since 2018.' The agency has seen a parade of permanent and acting leaders in recent years, which some analysts and lawmakers think has hampered its ability to move forward on efforts to tackle decades-old problems including the persistent shortage of air traffic controllers. The FAA's last permanent leader, Michael Whitaker, stepped down in January after just over a year in the job. Bedford told lawmakers he is committed to serving out his full five-year term. Bedford pledged to 'to build a new best-in-class air traffic control system and to rectify the chronic understaffing in our nation's air centers. However, to accomplish this, I hope we can agree we can't repeat the mistakes of the past. We can't accept half measures.' In response to written questions from the committee, Bedford signaled that he would not hesitate to shake up an agency that he views as too cautious and risk-averse. 'There appears to be no incentive for anyone at FAA to take any innovation risk for fear that it could fail,' he wrote. 'You could say there was an 'if it ain't broke, don't fix it' attitude, but that has morphed into a quiet resignation that 'we can't fix it, but we can do our very best to make the system work safely today' mindset.' Bedford said as a result a 'malaise' has set in at the FAA, where 'managers believe the agency is helpless to make the necessary changes, and furthermore, they rationalize it isn't really their fault,' he continued. 'The best they can do is fight every day to make the current system limp along safely.' Bedford has served as CEO of Republic Airways, a regional carrier based in Indianapolis, since 1999. He is married with nine children, several of which joined him at Wednesday's hearing. He has a bachelor's degree in business from Florida State University. Bedford has won praise from an array of industry groups, with Airlines for America, the trade group that represents the nation's largest carriers, calling him a 'superb choice' to lead the agency. 'He intimately understands the importance of a strong working relationship between the FAA and airspace operators of all sizes,' the group said in a statement, urging the Senate committee to move quickly to confirm him. But his nomination has drawn opposition from Democrats on the panel and some labor unions, including the Air Line Pilots Association, which cited his support of efforts to reduce the number of flight hours required to become a commercial pilot. Though repeatedly pressed by several Democratic senators about whether he would seek to reduce the current 1,500-hour requirement, Bedford would only say that he would not take any action that would compromise safety. 'It's important that we have an FAA administrator who strengthens our aviation standards to honor the families who have lost loved ones in these tragic accidents,' said Sen. Maria Cantwell (Washington), the committee's ranking Democrat. 'The tragic midair collision in January between the Army Blackhawk helicopter and American Airlines Flight 5342 took the lives of 67 people and is a stark reminder of what happens when the system fails.'
Yahoo
33 minutes ago
- Yahoo
Musk regrets some of his Trump criticisms, says they 'went too far'
Musk regrets some of his Trump criticisms, says they 'went too far' Elon Musk, the world's richest person and Donald Trump's former advisor, says he regretted some of his recent criticisms of the US president (Kevin Dietsch) (Kevin Dietsch/GETTY IMAGESvia AFP) Elon Musk, the world's richest person and Donald Trump's former advisor, said Wednesday he regretted some of his recent criticisms of the US president, after the pair's public falling-out last week. "I regret some of my posts about President @realDonaldTrump last week. They went too far," Musk wrote on his social media platform X, in a message that was received favorably by the White House. Musk's expression of regret came just days after Trump threatened the tech billionaire with "serious consequences" if he sought to punish Republicans who vote for a controversial spending bill. Their blistering break-up -- largely carried out on social media before a riveted public since Thursday last week -- was ignited by Musk's harsh criticism of Trump's so-called "big, beautiful" spending bill, which is currently before Congress. ADVERTISEMENT Some lawmakers who were against the bill had called on Musk -- one of the Republican Party's biggest financial backers in last year's presidential election -- to fund primary challenges against Republicans who voted for the legislation. "He'll have to pay very serious consequences if he does that," Trump, who also branded Musk "disrespectful," told NBC News on Saturday, without specifying what those consequences would be. Trump also said he had "no" desire to repair his relationship with the South African-born Tesla and SpaceX chief, and that he has "no intention of speaking to him." But after Musk's expression of regret, White House Press Secretary Karoline Leavitt told reporters that Trump was "appreciative," adding that "no efforts" had been made on a threat by Trump to end some of Musk's government contracts. "The president acknowledged the statement that Elon put out this morning, and he is appreciative of it," Leavitt said. ADVERTISEMENT According to the New York Times, Musk's message followed a phone call to Trump late on Monday night. Vice President JD Vance and Chief of Staff Susan Wiles had also been working with Musk on how to broker a truce with Trump, the report said. - 'Wish him well' - In his post on Wednesday, Musk did not specify which of his criticisms of Trump had gone "too far." The former allies had seemed to have cut ties amicably about two weeks ago, with Trump giving Musk a glowing send-off as he left his cost-cutting role at the so-called Department of Government Efficiency (DOGE). But their relationship cracked within days, with Musk describing the spending bill as an "abomination" that, if passed by Congress, could define Trump's second term in office. Trump hit back at Musk's comments in an Oval Office diatribe and from there the row detonated, leaving Washington stunned. ADVERTISEMENT Trump later said on his Truth Social platform that cutting billions of dollars in subsidies and contracts to Musk's companies would be the "easiest way" to save the US government money. US media have put the value of the contracts at $18 billion. With real political and economic risks to their falling out, both already appeared to inch back from the brink on Friday, with Trump telling reporters "I just wish him well," and Musk responding on X: "Likewise." Trump had spoken to NBC on Saturday after Musk deleted one of the explosive allegations he had made during their fallout, linking the president with disgraced financier Jeffrey Epstein, who was accused of sex trafficking. bur-arp/aha
The Verge
34 minutes ago
- The Verge
Posted Jun 11, 2025 at 4:51 PM EDT 0 Comments
Google has appointed a chief AI architect. Koray Kavukcuoglu, Google DeepMind's chief technology officer, will work to combine Google's AI models with its products 'with the goal of more seamless integration, faster iteration, and greater efficiency,' according to a memo seen by Semafor. Kavukcuoglu will reportedly remain Google DeepMind CTO while in his new role.
