Latest news with #AirForceOnes
CNBC
29-05-2025
- Business
- CNBC
Josh Brown says he's not sure if Nike can ever turn it around
Household brand Nike is not setting itself up for a successful turnaround, according to Josh Brown, CEO of Ritholtz Wealth Management and CNBC PRO contributor . The widely followed investor believes that the iconic footwear brand isn't keeping up with the fierce competition as its celebrity spokespeople age out of popularity. The stock has fallen another 19% this year following a 30% loss in 2024. "The superstars that are all aging. LeBron James is in his 40s. Michael Jordan is 30 years retired," Brown said on CNBC's " Halftime Report ." "I don't even know what we do with something like Nike here. It's just a falling knife. It's a really tough one." In late March, Nike said it expected its sales to decline in the fiscal fourth quarter to be at the "low end" of the "mid-teens range," far worse than analysts expected. The company said its guidance is based on its ongoing restructuring efforts, plus tariffs and sliding consumer confidence. NKE 5Y mountain Nike, 5 years Nike did beat Wall Street's expectations in its fiscal third quarter, however. "This is a stock that is effectively sitting on an eight year low. It keeps making lower lows even when they have a 'better than expected quarter,' within a week, stocks down," Brown said. Nike said last week it will raise prices on a wide range of footwear , apparel and equipment as the retail industry braces for tariffs to hit its profits, The investor said Nike has been getting by through selling staple sneakers like Air Force Ones and Jordans, but that's not enough to beat competition. "This is the same thing they've been doing," Brown said. "You've got these other brands that have come along. They don't have meaningful market share, but they're forcing Nike to fight defensively in key markets, like running." All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
Yahoo
20-05-2025
- Business
- Yahoo
Meink vows security as Qatar-gifted jet turned into Air Force One
Making a Qatar-gifted Boeing 747 secure enough to serve as a presidential aircraft will require 'significant modifications,' Air Force Secretary Troy Meink told lawmakers Tuesday. Meink said in a Senate Armed Services Committee hearing that the Air Force is now looking at what it will take to adapt the 747 aircraft, which the Qatar royal family is offering to the Trump administration, into an Air Force One presidential plane. Meink also pledged to Sen. Tammy Duckworth, D-Ill., not to allow security standards for the plane to slip, and to warn President Donald Trump and Defense Secretary Pete Hegseth if the service is unable to address any threats as it modifies the plane. Duckworth and Sen. Mazie Hirono, D-Hawaii, expressed deep concerns in the hearing about the deal, highlighting the security, ethical and cost concerns it raises. Duckworth called Trump's defense of the jet's gift 'bizarre and disturbing,' and said it creates 'at the very least, the pathetic appearance that our commander-in-chief can be bought by an ally of Iran and Hamas.' 'Far from saving money, this unconstitutional action will not only cost our nation its dignity, but it will force taxpayers to waste over a billion dollars to overhaul this particular aircraft, when we currently have not one, but two, fully operational and fully capable Air Force One aircraft,' Duckworth said. Trump is dissatisfied with Boeing's delays in the VC-25B program to build a pair of new Air Force Ones, which were originally due for delivery last year but now may not be ready until 2029. The Trump administration plans to accept the donation of a luxurious 747-8 and have the Air Force convert it into a new presidential transport aircraft, potentially by the end of this year. ABC News reported earlier this month that the plane would be donated to Trump's presidential library shortly before the end of his second term. But some lawmakers and aviation experts, including former Air Force Secretary Frank Kendall, have decried those plans. Critics say the deal would violate the Constitution's emoluments clause and amount to a corrupt deal benefiting Trump. The Qatar 747 plans have also been criticized as a waste of money and a potential security risk, as an Air Force One jet also needs to be a hardened, secure flying situation room capable of operating during a major catastrophe. In a Monday morning briefing, White House spokeswoman Karoline Leavitt forcefully rejected criticisms of the Qatar 747 gift and denied it was a personal donation or gift to Trump. She referred questions about the timeline of retrofitting the 747 to the Air Force. 'Because it is the United States Air Force that is accepting the plane, I would defer you to them to specifics, because the President, frankly, has nothing to do with it,' Leavitt said. 'It's the Air Force's project to take on.' The Air Force said in an email to Defense News that it currently had no information about the status and timeline of modifying the Qatar 747 to provide. Duckworth, Hirono and seven other Democratic senators last week urged the Defense Department's acting inspector general to open an inquiry into the aircraft, citing the cost and time it may take to retrofit it into a presidential aircraft and meet the necessary security and counterintelligence standards. Duckworth said she also sent a letter to Meink about the operational security risks associated with the plane, and noted an Air Force One aircraft must be able to allow the president to command and control U.S. forces from midair during a catastrophic crisis, such as a nuclear war. 'This isn't just about ensuring presidential protection, though that is very important,' Duckworth said. 'This is about our national security and protecting all Americans from the dangers posed if the president's sensitive communications are intercepted, or be out of contact, God forbid, with our nation's military during a crisis.' Duckworth initially appeared unsatisfied with Air Force Chief of Staff Gen. David Allvin's and Meink's responses to her questions about whether the work modifying a foreign-sourced aircraft into a presidential jet would be significant. Meink initially said the service had been ordered to modify the aircraft and it was postured to do so, which raised Duckworth's ire. 'That's not my question,' Duckworth said. Meink then expanded his answer and acknowledged the Air Force would look at all the issues Duckworth raised with the modifications. Meink said any civilian aircraft being converted into a presidential transport aircraft would require significant upgrades. Duckworth said she is concerned that pressure to get the Qatar 747 into service in time for Trump to use by the end of his administration may lead to operational security corners being cut. And she urged the Air Force not to let the 'distraction' of the Qatar 747 hold up work on the two other 747s Boeing is now converting to Air Force One aircraft under the VC-25B program.
Yahoo
17-05-2025
- Entertainment
- Yahoo
Bill Maher slams Trump for planning to accept plane as gift from Qatari royals
Comedian Bill Maher slammed President Donald Trump on Friday night for his plans to accept a Boeing 747 from the Qatari royal family following the commander-in-chief's trip to the Middle East this week. 'You know, when you travel, you like to leave with a souvenir, right? So he got a $400 million plane,' said Maher. 'They gave him a $400 million plane, which he accepted.' Trump has faced widespread criticism for being willing to accept the jet from the Qataris, with the president previously saying that it would be 'stupid' not to accept it. 'This has to be the ultimate 'If Obama did it,'' said Maher. Trump critics often note the outrage that would come from Republicans had a Democratic president, particularly Barack Obama, taken a fraction of Trump's controversial decisions. 'If Obama did it, Fox News would be endlessly calling it 'Allah Force One,'' said Maher, adding that the plane would need such extensive updates and additions to meet the required security standards that it's unlikely Trump will be able to use in the time he has left in the White House. 'So then it would have to be private, which would be illegal, but you know it doesn't matter,' said Maher. The comedian noted that the Qatari jet would be his fourth plane, while children may get fewer toys for Christmas due to Trump's tariff policy. 'Trump says he will not be using [the plane] when he leaves office, and people don't believe that,' said Maher. 'Not the 'using it' part, the 'leaving office' part. But, okay, so Trump now has four planes.' 'He's got the two Air Force Ones that the government provides,' he added. 'Then he's got his own plane. Now he's got this one. Four planes, yet everybody else, still only three dolls and 10 pencils.' Trump has claimed that the plane will be gifted to the Department of Defence, but Reuters noted that it will later be handed to Trump's presidential library. The plane would be one of the most valuable gifts ever given to the U.S. government. Republicans and Democrats have criticised the president for being willing to accept it. The president defended the decision during a Fox News interview on Friday. 'I just want to say, it was a radical left story,' he claimed. 'The people here, to show you how crazy it is, they would like me to pay a billion dollars.' 'I made a good deal,' Trump argued, citing the Air Force One on display at the Ronald Reagan presidential library in Simi Valley, California. 'This goes to the United States Air Force for whoever is president, and at some point, it'll be like Ronald Reagan. It'll be decommissioned, because they won't want it,' said Trump. The president criticized Boeing for being 'very late' in delivering the new Air Force Ones. Construction on the planes currently used by the president began during Reagan's time in office. 'We need a plane for a couple of years before we get the other ones, because Boeing is very late,' Trump told Fox News. 'They should be able to knock them off in no time.'
Yahoo
16-05-2025
- Entertainment
- Yahoo
Can you create 46,000 outfits out of 50 items? Iowan shares how he did it in new ‘anti-fashion' magazine
DES MOINES, Iowa — A year ago, Colin Behr moved back to Iowa where he's been working on his next creation. 'It's the anti-fashion fashion magazine,' Behr explained. Behr is uniquely qualified for his against the grain concept. He's been thinking about fashion since the time he could walk. 'I had an uncle that lived in Chicago during the '90s, he got me a pair of Jordans, actually sitting up behind us, pair of toddler J's that, you know, whether I was conscious of it or not at the time, has really played a part,' Behr said. If the seed was planted then, it took root at Iowa State, where Behr studied industrial design. 'At that point, I was still probably nervous to come and claim like I want to design footwear at Nike, you know, that's a crazy dream; there's no way a kid from small town Iowa can make it out there, you know.' After five years at Iowa State, Behr got the call. 'In a way it felt kind of like getting called up to the big leagues,' Behr said. 'I still remember to this day getting, you know, the offer letter and above my computer is an MJ poster.' Behr set off on a decade of designing for Nike. 'I think in the first five years it was, I mean over 50 projects, over 20 design patterns.' Adventureland prepping to open for the season this weekend From Air Force Ones to the Jordan brand. 'Childhood dream come true for sure,' Behr explained. Then Behr left it all behind, moving from Portland back home. 'Early in my career I did sort of feel like I had to be in those big meccas, those big cities where the fashion and the design and the art was happening otherwise you can't participate in it, and I kind of felt my whole life I was running away from Iowa.' It was an idea — the Wardrobe Theory Project — that pushed Behr to turn the page. 'I never thought I would create a magazine,' Behr said, 'and so it's a fun sort of full circle moment.' Issue one of the Wardrobe Theory Project launched earlier this year at the Dust Collective. It's a magazine of style and sustainability mixed with storytelling and systems. 'Those typically exist in different industries and conversations, and your different areas of life. What happens when we bring all those together and what sort of conversations can we have and spark with that?' For two years, Behr didn't purchase any new clothes, whittled his closet to just 50 items, and with a a mindful selection, he proved his theory by creating 46,000 outfit possibilities. 'Much of the industry is all about add new, add new, add new. What happens when we reflect and what can we learn from actually looking back and really championing the things we have in our closest already,' Behr asked. As Behr has shown, sometimes you have to look back to move forward. 'Why can't I bring that global network that I have and tap into it from a place like Iowa and see not only how we can connect to the world from here, but also start to build a different and new industry here, locally,' Behr said. Behr already broke the mold once, and with Wardrobe Theory Project he hopes to do it again. Iowa News: Can you create 46,000 outfits out of 50 items? Iowan shares how he did it in new 'anti-fashion' magazine Governor's bill tackling doctor shortage passes House and Senate Greenfield planning 1 year commemoration of tornado NASCAR Cup Series Driver Cole Custer visits elementary students in Newton Another windy day ahead as temps cool Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
01-05-2025
- Business
- Yahoo
L3Harris working on interim Air Force One sought by Trump -- source
By Mike Stone and David Shepardson WASHINGTON (Reuters) -The U.S. government has tapped defense contractor L3Harris Technologies to overhaul a Boeing 747 formerly used by the Qatari government for use as an interim Air Force One, a source told Reuters. President Donald Trump, frustrated by repeated delays on Boeing's Air Force One, wants to have the plane available for use as early as the fall, the Wall Street Journal said, which first reported the plan. Boeing did not immediately respond to a Reuters request for comment, while L3Harris declined to comment. In mid-February, Trump expressed his displeasure with the U.S. planemaker but ruled out rival Airbus as an alternative. Around the same time, he toured a 12-year-old 747-8 aircraft near his Florida vacation home to better understand the presidential carrier. The WSJ report said the White House and military officials had also discussed suing Boeing or cancelling the contract for the new planes before Trump's inauguration in mid-January. A separate source told Reuters that Trump had raised the delay in his first call with Boeing CEO Kelly Ortberg last fall. Ortberg told Reuters in February that Trump adviser Elon Musk, the head of its space business rival SpaceX, is "helping us a lot" in navigating through delays in delivering Air Force One. "Elon Musk is actually helping us a lot in working through the that we can move faster and get the president those airplanes delivered," Ortberg said. In February, a senior administration official told Reuters the Air Force One program may be further delayed until 2029 or years later due partly to supply chain problems. Boeing has lost more than $2 billion on the $3.9 billion Air Force One program. Trump has said he is not happy with Boeing due to delays in delivering Air Force One planes, adding his administration might have to "do something else." Boeing's Air Force One program has been troubled by supply chain issues, high costs, and the complexity of the planes that are intended to be an airborne White House. L3Harris has been a contractor to Boeing, working on communications systems for the pair of replacement Air Force Ones. The interim jet would serve alongside the current pair of aging Boeing jets. Sign in to access your portfolio
