Virgin Galactic once again delays commercial suborbital operations
Capitalism in space: In releasing its quarterly report, Virgin Galactic yesterday revealed that it is once again delaying the start of commercial suborbital operations, pushing back from the first quarter of 2023 to the second quarter.
In an earnings call, company executives said that the latest delay was not directly related to supply chain and staffing problems it blamed for the previous delay. Instead, refurbishment work on its WhiteKnightTwo plane, VMS Eve, was taking longer than planned. “The driver is around the amount of time it is taking us to accomplish the work scope on Eve,” said Michael Colglazier, chief executive of Virgin Galactic. “We did not plan the full amount of time that’s been needed to get this work accomplished.”
Company officials also said they are shifting its customer emphasis, now focusing much more on “private and government researchers.” Let me translate: The public is not buying tickets, so Virgin Galactic hopes to convince the government to keep it afloat instead.
I predict this company will likely never fly any customers, and it appears the stock agrees, with the stock plunging in value, from $8.25 to $6.95 in less than a day.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Capitalism in space: In releasing its quarterly report, Virgin Galactic yesterday revealed that it is once again delaying the start of commercial suborbital operations, pushing back from the first quarter of 2023 to the second quarter.
In an earnings call, company executives said that the latest delay was not directly related to supply chain and staffing problems it blamed for the previous delay. Instead, refurbishment work on its WhiteKnightTwo plane, VMS Eve, was taking longer than planned. “The driver is around the amount of time it is taking us to accomplish the work scope on Eve,” said Michael Colglazier, chief executive of Virgin Galactic. “We did not plan the full amount of time that’s been needed to get this work accomplished.”
Company officials also said they are shifting its customer emphasis, now focusing much more on “private and government researchers.” Let me translate: The public is not buying tickets, so Virgin Galactic hopes to convince the government to keep it afloat instead.
I predict this company will likely never fly any customers, and it appears the stock agrees, with the stock plunging in value, from $8.25 to $6.95 in less than a day.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
1) https://www.youtube.com/watch?v=k5VZjT0JE70 2) “The public is not buying tickets, so Virgin Galactic hopes to convince the government to keep it afloat instead.” no. No. NO, HECK NO. 3) Why isn’t Branson in jail
I guess they deserve a little credit for being the first private entity to reach “space”.. ( well… Burt does).. and for having the infamous accolade of having the first death in that quest.
It is almost too easy to criticize virgin and Branson for their business model, but they blazed a trail that many others are now following.
Groucho to Fenneman:
“Flap your arms, George!”
Lee S: The only trail The Great Sir Richard blazed with his “business model” was hoodwinking thousands of investors out of their money with a shaky, unscalable point design inherited from Burt Rutan (as you admit). SpaceshipOne was just barely adequate to win the X Prize—when Rutan’s legacy company pulled out of supporting the Virgin adventure, that was a giant red flag. I agree with Col. Beausabre that Branson needs to be prosecuted for pumping and dumping the stock of a company that was never capable of fulfilling its lofty promises, of which Branson was undoubtedly fully aware.
Robert wrote: “Let me translate: The public is not buying tickets, so Virgin Galactic hopes to convince the government to keep it afloat instead.”
The company has been bragging for two decades that they have deposits from more than 600 people. If these customers are not following through with the final purchase, that says something bad.
It gets worse :
http://www.parabolicarc.com/2022/08/04/masterclass-announces-richard-branson-to-teach-disruptive-entrepreneurship/
Who are the idiots running Master Class.
Oh well…next to Stossel getting pimp-slapped, this is my favorite video
https://m.youtube.com/watch?v=BzuxEyeqri0
Poor Richard…someone up there is sending you a message
https://ktvz.com/money/cnn-business-consumer/2021/07/10/here-are-just-some-of-richard-bransons-near-death-experiences-ahead-of-his-first-space-flight/