Bezos’ Feb Amazon stock sale earned $3.4 billion, not $1.8 billion

12:04 pm

In early February Jeff Bezos sold of 3% of his Amazon stock, almost twice what had been reported at the time, earning him $3.4 billion not $1.8 billion.

This information is part of an overall sell-off in early February by the top executives of many U.S. companies, totaling $9.2 billion.

While Mr. Bezos’s sales accounted for more than a third of the 2020 sales, thousands of other insiders sold stock. More than 150 executives and officers individually sold at least $1 million worth of stock in February and March after having sold no stock in the previous 12 months, the Journal analysis found.

Wall Street executives also sold large dollar amounts, including Laurence Fink, CEO of BlackRock Inc., who sold $25 million of his company shares on Feb. 14, pre-empting potential losses of more than $9.3 million and Lance Uggla, CEO of IHS Markit Ltd., a data and analytics firm, who sold $47 million of his shares around Feb. 19. Those shares would have dropped in value by $19.2 million if Mr. Uggla had retained them. A spokesperson said the shares were sold under a preset plan.

These early February sell offs are in addition to the sudden sales of stock by four Senators, all conveniently timed to beat the crash that has since occurred.

If I was a cynic I would say they got inside information from their buddies in Congress and the state governments, telling them that the government was going to shut down the economy because of COVID-19, and you better sell.

If I was a fool I’d say that can’t be, these people are all upfront and honest, especially those in Congress. They would never work with the big stockholders on Wall Street to manipulate stocks so those stockholders could make a killing. Never!

Meanwhile, Bezos’ stock sale now gives him a total of $8.2 billion in cash from all his stock sales since 2017. While he has said this money was intended to support his space company Blue Origin, he has also said he wants to spend $10 billion on “climate change.”

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Genesis cover

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 or any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. 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 trillion COVID-19 aid bill includes significant funds for foreign aid

9:34 am

According to this close look at the new $1 trillion COVID-19 aid bill that Congress is now considering, a significant amount of the money being allocated will go to foreign aid.

Note that the conservative narrative this past weekend was that the Democrats blocked passage of the aid bill because they wanted to stuff it with their own pet political projects. Meanwhile, the Republicans only wanted to get it passed in order to rush aid to Americans because of the government’s panic that has caused an economic crash.

While the Democratic portion of this narrative is true, the Republican part is a lie. The Republicans have their own pet political projects, and they are stuffing the bill with them also. Moreover, that stuffing includes, according to the article, lots of cash to “the salaries and expenses” of many DC government agencies.

The article also notes this:

To put that into perspective, the first COVID-19 legislation exceeds the $1.1 billion appropriated for Zika in 2016, the $5.4 billion for Ebola in 2014, and the $7 billion for swine flu in 2009.

All of those epidemics were actually much larger and more dangerous than the Wuhan flu. None resulted in panic and the establishment of martial law.

I promise you, the only real stimulus in this bill will be aimed at Washington. While the bill might give a free handout exceeding a thousand dollars to poorer Americans (in order to buy votes), most of the money will likely end up raising salaries, increasing staff, and improving the lifestyles of the bureaucracies in DC. Like the Obama stimulus, it will do little to stimulate the economy.

Meanwhile, the imposition of martial law continues, shutting down the American economy while making the pursuit of happiness impossible. I just got back from Costco with my wife. The store was opening two hours early in order to reserve those extra hours for those over sixty years old. We went because the panic has made it impossible to get some goods we need. We got there just before 8 am, when the store was supposed to open, and found a line so long already that would probably take two hours to get into the store. By that time most of what we need would likely be gone. We came home.

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Long March 5B launch still set for mid-April, despite Wuhan virus

9:01 am

The new colonial movement: China is moving forward with its plans to complete the first launch of its big Long March 5B rocket in mid-April, despite the lockdowns because of COVID-19.

The Long March 5B is a variant of the Long March 5, which after two launch failures finally completed its first successful launch in December. The 5B is also the rocket they intend to use for all their manned missions, as well as launching the components of their manned space station.

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Conscious Choice cover

Now available in hardback and paperback as well as ebook!

From the press release: In this ground-breaking new history of early America, historian Robert Zimmerman not only exposes the lie behind The New York Times 1619 Project that falsely claims slavery is central to the history of the United States, he also provides profound lessons about the nature of human societies, lessons important for Americans today as well as for all future settlers on Mars and elsewhere in space.

 
Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space, is a riveting page-turning story that documents how slavery slowly became pervasive in the southern British colonies of North America, colonies founded by a people and culture that not only did not allow slavery but in every way were hostile to the practice.  
Conscious Choice does more however. In telling the tragic history of the Virginia colony and the rise of slavery there, Zimmerman lays out the proper path for creating healthy societies in places like the Moon and Mars.

 

“Zimmerman’s ground-breaking history provides every future generation the basic framework for establishing new societies on other worlds. We would be wise to heed what he says.” —Robert Zubrin, founder of the Mars Society.

 

All editions are available at Amazon, Barnes & Noble, and all book vendors, with the ebook priced at $5.99 before discount. All editions can also be purchased direct from the ebook publisher, ebookit, in which case you don't support the big tech companies and the author gets a bigger cut much sooner.

 

Autographed printed copies are also available at discount directly from the author (hardback $29.95; paperback $14.95; Shipping cost for either: $6.00). Just send an email to zimmerman @ nasw dot org.

Astra Space suffers failure during launch dress rehearsal

8:53 am

Capitalsm in space: Astra Space, attempting again to complete its first orbital launch, suffered what they call “an anomaly” during a launch dress rehearsal countdown yesterday.

The “anomaly,” of which we presently have no description other than it has cancelled their launch attempt later this week and that no one was hurt, apparently was serious enough that they noted that the launch site is “still hazardous and should be avoided.”

The company has said that it expected it would take three launches before they succeeded in getting into orbit, so this failure probably does not worry them overally. At the same time, I suspect that expectation was for actual launches, not explosions during the countdown.

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Bigelow lays off everyone

8:48 am

Bigelow Aerospace, builder of commercial space stations, has laid off its entire workforce, stating this was due to the lockdown by Nevada’s state government due to the Wuhan flu.

According to sources familiar with the company’s activities, Bigelow Aerospace’s 68 employees were informed that they were being laid off, effective immediately. An additional 20 employees were laid off the previous week.

Those sources said that the company, based in North Las Vegas, Nevada, was halting operations because of what one person described as a “perfect storm of problems” that included the coronavirus pandemic. On March 20, Nevada Gov. Steve Sisolak signed an emergency directive ordering all “nonessential” businesses to close.

A company spokesperson confirmed March 23 that the company laid off all its employees because of the governor’s order, and that it faced “fines, penalties and threats of having our business license revoked” if it remained open. The spokesperson added that the company planned to hire workers back once the emergency directive was lifted, although other sources interpreted the layoffs as a permanent measure.

Considering how Bigelow has allowed other commercial space station companies, such as Axiom, to move ahead of it, this decision is not surprising. The panic over COVID-19 only pushed it along.

Whether Bigelow as a company returns once the coronavirus panic subsides however remains an open question.

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Leaving Earth cover

Leaving Earth: Space Stations, Rival Superpowers, and the Quest for Interplanetary Travel, can be purchased as an ebook everywhere for only $3.99 (before discount) at amazon, Barnes & Noble, all ebook vendors, or direct from my ebook publisher, ebookit.

If you buy it from ebookit you don't support the big oppressive tech companies and I get a bigger cut much sooner.

 

Winner of the 2003 Eugene M. Emme Award of the American Astronautical Society.

 
"Leaving Earth is one of the best and certainly the most comprehensive summary of our drive into space that I have ever read. It will be invaluable to future scholars because it will tell them how the next chapter of human history opened." -- Arthur C. Clarke

China launches three satellites with its Long March 2C rocket

8:39 am

China today successfully placed three military surveillance satellites into orbit, using its Long March 2C.

This rocket uses toxic hypergolic fuels, and is designed for placing satellites in low Earth orbit. Its first stage will likely fall somewhere in the Chinese interior, where the government will warn residents of the danger.

The leaders in the 2020 launch race:

6 China
5 SpaceX
4 Russia
2 Europe (Arianespace)

The U.S. still leads China 8 to 6 in the national rankings.

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Power is what the COVID-19 government panic is really about

1:51 pm

While common sense, caution, and the human ability to adapt to fluctuating circumstances requires our society to react to the COVID-19 epidemic spreading across the globe, our additional ability to think coolly and rationally requires us to not allow our emotions to run wildly and out-of-control, taking actions that might feel good for a moment but do no good and maybe more harm in the long run.

It also requires to look closely at the actions of our lawmakers, whose motives are now commonly not driven by an interest in the country but by their own interests and an insatiable desire for power. Two stories this past weekend were quite revealing in this context.

First we have the incredible request by the Justice Department for new special powers so that it can supposedly react to the epidemic properly.
» Read more

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Layers upon layers upon layers on Mars

11:13 am

Layered mesa on Mars
Click for full image.

Cool image time! Or rather, a bunch of cool images! On February 17, 2020 the science team for the high resolution camera on Mars Reconnaissance Orbiter (MRO) released a very cool captioned photograph of a terraced mesa in a crater just north of Hellas Basin, shown in the image to the right, rotated, cropped, and reduced to post here.

The color strip down the center of this image illustrates how the colors of the different layers indicate the different make-up of each. These distinctions are not obvious in black & white. That array of colors also leads to some very beautiful scenery, as noted by planetary scientist Alfred McEwen in his caption:

Sedimentary layers record a history of Mars’ erosion and deposition by water and wind, and they make great landscapes for future interplanetary parks.

That this terraced mesa is located on the northern edge of Hellas Basin, the basement of Mars, is possibly not surprising. Other similarly terraced mesas like this have been found on the basin’s eastern edge, highlighted in my September 2019 post. The geology here appears to encourage this kind of erosion, where the different sedimentary bedrock layers erode away at different rates, leaving behind terraced mesas.

Terraced layers on Mars however come in other varieties, some of which build up over time instead of getting eroded away.
» Read more

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Another Chinese state-sponsored company about to launch orbitally

11:26 am

Galactic Enterprise, another Chinese state-sponsored “private” company, says it will attempt its first orbital launch this coming June.

The rocket is named Ceres-1, after the largest body in the asteroid belt, and will launch from China’s Jiuquan Satellite Launch Center in the Gobi Desert. With three solid fuel stages and a liquid propellant fourth stage, it will be able to lift 350 kilograms of payload to an altitude of 200 kilometers in low Earth orbit. [emphasis mine]

Want to know why I do not consider this a real private company? From the article:

[Galactic Energy CEO and founder Liu Baiqi] earned a PhD from the prestigious Beihang University in Beijing before moving to the China Academy of Launch Vehicle Technology (CALT), a major subsidiary of the country’s main space contractor. He says everyone on the core team at his company has 10 to 20 years of background in research and development, as well as experience in spaceflight.

The Chinese national strategy of military-civil fusion is a crucial ingredient in China’s nascent commercial launch sector. It facilitates the transfer of restricted military technologies for civilian use, and vice versa. Liu notes that the strategy strengthens China’s commercial aerospace companies by establishing supply chains, providing access to test and launch sites, and securing orders from the government. [emphasis mine]

The highlighted text in both quotes above explains all. First, solid rocket technology is almost always reserved for missiles, as it can be stored easily for long periods, yet be ready to launch quickly. No private company, even in the U.S., can use it without heavy government involvement.

Second, Liu admits that his entire team comes from China’s long established space industry, which has always been dominated and controlled by that country’s government and military. I guarantee that everyone in his company has security clearances, and has worked on the past for China’s missile programs

Third, Liu’s own words confirm my conclusion. He calls it a “military-civil fusion,” but that’s just government weasel-words, another way of saying the government is running the show, entirely. It might be allowing him to form his own operation, using investment capital from Chinese investors, but everything he does is approved and supervised by the Chinese military and government.

It is for this reason I will not list these Chinese “companies” separately in my launch race updates, like I do with U.S. companies. They are not really private, or separate. They are all divisions of China’s military-communist government, and thus should be lumped together.

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Astra to try its first orbital launch again this week

11:00 am

Capitalsm in space: After aborting its first orbital launch attempt at T-53 seconds, Astra has announced that it will to try its first orbital launch again this week.

They have not revealed the payload. They also admit that they will not be surprised if they fail to reach orbit, as they already assume it will take about three launches to iron out their rocket and systems.

Regardless, if they succeed, they will become the second company, after Rocket Lab, to successfully enter the smallsat market.

No word on whether they will live-stream the launch.

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