Navy secretary says need for new shipbuilding is a ‘national emergency' at local visit
Speaking to media at the Norfolk Naval Shipyard after concluding his visit, Phelan emphasized the need for new investment in shipbuilding to meet the demands of the moment, calling it a 'national emergency.' He floated building ships overseas in partnership with foreign allies as well as using old shipyards and advancements in technology to shrink the 'footprint' of current shipyards to allow for expanded manufacturing of military vessels.
'I think we have grossly underinvested in this country and hollowed out manufacturing and that's been a real problem, and we now have a real demand signal for the industrial base – particularly for (submarines) and carriers – and so we're behind and now we have to catch up,' Phelan said.
He said in order to create the workforce needed to spur this growth, it would require jobs programs that match the focus put on coding in recent years.
'We spent the last 10 years teaching people how to code, we're going to spend the next 10 teaching them how to use their hands,' Phelan said. 'That is going to be a critical skill set and I believe that we can create very good careers, longterm careers.'
Phelan was sworn in on March 25 and is overseeing the Navy's $263.5 billion annual budget. Previously he was the founder and chairman of the Palm Beach-based private investment firm Rugger Management, and was co-founder and co-managing partner of MSD Capital. He has an MBA from Harvard Business School and has a Bachelor's degree in Economics and Political Science from Southern Methodist University.
In talking to workers at different levels of the shipbuilding process, some common themes emerged including difficulties with parking. He said these conversations will inform his decision making going forward.
Phelan said one of his main focuses on his visit was to check in on the construction of the Ford-class USS John F. Kennedy, which is three years behind schedule. He resisted attributing the delays to any one factor, saying he's still gathering information on the situation, but said he is 'optimistic' the issue can be resolved.
'I think it's a number of different factors, I'm still really formulating that. I think it's going to take a whole-of-government approach to fix,' Phelan said.
Overall he said he was very impressed with Hampton Roads' shipyards, particularly the capacity to build nuclear powered supercarriers, calling them the 'backbone of our deterrence and the president's peace through strength initiative.'
Gavin Stone, 757-712-4806, gavin.stone@virginiamedia.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
41 minutes ago
- Business Wire
XIFR INVESTOR ALERT: Kirby McInerney LLP Alerts XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP Investors of Important Lead Plaintiff Deadline in Class Action Lawsuit
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP alerts investors of the imminent September 8, 2025 deadline to seek the role of lead plaintiff in a federal securities class action filed on behalf of investors who acquired XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP ('XPLR' or the 'Company') (NYSE:XIFR) securities during the period from September 27, 2023 and January 27, 2025 ('the Class Period'). The firm encourages investors to contact the firm as soon as possible to be appointed lead plaintiff. [ LEARN MORE ABOUT THE CLASS ACTION ] On January 28, 2025, XPLR announced that it would suspend cash distributions to common unitholders entirely and essentially abandon its yieldco model. In a press release, XPLR revealed a strategic repositioning and stated that the Company was moving from a business model that focused almost entirely on raising new capital to acquire assets while distributing substantially all of its excess cash flows to unitholders to a model in which XPLR Infrastructure utilizes retained operating cash flows to fund attractive investments. In addition, XPLR announced that the Company's CEO and CFO had both resigned and been replaced. On this news, the price of XPLR's common units declined by $5.31, or approximately 33.6%, from $15.80 per unit on January 27, 2025 to close at $10.49 per unit on January 29, 2025. The lawsuit alleges that XPLR made materially false and/or misleading statements regarding the Company's: (i) struggle to maintain its operations as a yieldco; (ii) financing arrangements which were made while downplaying the attendant risks; (iii) inability to resolve those financings before their maturity date without risking unitholder dilution, and (iv) plan to halt cash distributions to investors and redirect funds to resolve those financings. If you purchased or otherwise acquired XPLR securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@ or fill out the contact form below, to discuss your rights or interests with respect to these matters without any cost to you. [ CONTACT FORM ] Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Chicago Tribune
41 minutes ago
- Chicago Tribune
Lake County Council unanimously approves amended ordinance for data centers
The Lake County Plan Commission will be ahead of the curve when it comes to addressing any future data center requests that may come before it. The Lake County Council on Tuesday unanimously approved an amended ordinance, which was given a favorable recommendation by the plan commission at its July 16 meeting. Councilman Randy Niemeyer, R-7th, urged fellow council members to approve the ordinance, which was compiled by a diverse group of nine members on the plan commission who supported it. 'If we don't have a policy, this whole thing will swallow us up,' Niemeyer said. 'Proactive' was a word both county officials and two residents, Caroline McCrady and Terry Steagall, used before and after the vote. Both McCrady and Steagall spoke briefly before the vote was taken. 'It will be nice to have something in place,' said Steagall, who spoke of his environmental concerns if a data center is approved. McCrady called data centers 'vampires of electrical and water use.' 'There's so many things to be concerned about,' McCrady said. The ordinance, now that it is approved, will provide guidance as department heads and local boards consider data center proposals for unincorporated areas of Lake County, Niemeyer said. Niemeyer said that in his 17 years of public service, he has found that 'if you have no policy, you have a bad policy.' 'This gives the public and staff a chance to evaluate the scope and scale,' he said. Though Porter County communities have so far been reticent about approving any data center proposals, several Lake County municipalities are more open to the idea. Last year, Merrillville changed zoning for some 180 acres on 101st Avenue east of Deep River for a data center after four companies approached the town about building them. On Thursday, the Hobart Plan Commission voted unanimously in favor of the rezoning for 400 acres on 61st Avenue, east of Colorado and north of 69th Avenue, after a request by Wylie Capital, a Chicago-based real estate developer that builds data centers. The zoning change next goes before the Hobart City Council for its approval. Lake County Plan Commission Director Ned Kovachevich said the ordinance is comprehensive and will help answer any questions when a data center proposal is submitted. He said that his department has had discussions with no less than three groups that are looking for areas to establish data centers. 'The scary thing is not having something in place,' Kovachevich said. He told those residents with concerns to provide him with their emails so that if a data center request is made that he can let them know. The law only requires him to notify those living adjacent to the project, he said. The ordinance defines a data center as a facility used for the storage, management, processing and transmission of digital data and that houses computer or network equipment, systems, servers, appliances and other associated components related to digital data storage, processing and related operations. Data center uses included data storage facilities, server farms, artificial intelligence training or processing, image processing, cloud computing, email servicing and other uses, according to the ordinance. Under the ordinance, all equipment and buildings within the data center must be set back at least 200 feet from all property lines near agricultural or residential-zoned areas. The maximum sound levels associated with the data center cannot exceed 55 decibels, according to the ordinance. All on-site utility lines have to be placed underground, and perimeter fencing has to be 6 feet tall, according to the ordinance. Data centers that remain inactive for more than 15 consecutive months have to be decommissioned, according to the ordinance. The data centers would be prohibited in business zoning districts, and a special exception in light industrial and heavy industrial zoning districts, according to the ordinance. When applying for special exception approval, company officials will have to submit a site plan — including property lines, setback lines and right-of-way lines and physical features — a proposed construction schedule, and proposed access routes for emergency response vehicles and large semi-tractor trailers. The approval would also require written verification from the Northern Indiana Public Services Company verifying adequate capacity in the supply lines and sufficiently sized utility supply equipment to safely accommodate the proposed data center. The letter would also have to verify that the data center wouldn't cause electrical interference or fluctuations in line voltage, according to the ordinance. Additionally, the approval request would have to include an energy efficiency plan, a water management plan, a visual screening report, a preliminary operation and maintenance plan, and a decommission plan, among other components, according to the ordinance.
San Francisco Chronicle
41 minutes ago
- San Francisco Chronicle
Salarius: Q2 Earnings Snapshot
HOUSTON (AP) — HOUSTON (AP) — Salarius Pharmaceuticals, Inc. (SLRX) on Tuesday reported a loss of $958,000 in its second quarter. The Houston-based company said it had a loss of 45 cents per share. _____
