Tag: freedom

UK parliament approves Brexit deal at last

11:10 pm

Prime Minister Boris Johnson’s deal to leave the European Union on January 31, 2020 was finally approved today by Parliament 330 to 231.

Not so fast. The deal calls for eleven months of negotiations on the various issues involved for the exit, and the head of the EU was in London calling for an endless extension of that deadline.

The new president of the European Commission Ursula von der Leyen came to London yesterday for her first face-to-face talks with Mr Johnson. She was accompanied by the EU’s chief Brexit negotiator Michel Barnier who will now lead trade discussions on behalf of the bloc after managing the divorce stage.

…During a speech at the London School of Economics, where she spent a year in hiding as a student in the late 1970s after becoming a target of the left-wing terrorist Baader-Meinhof gang, she said that a full deal would not be achievable in just 11 months. She said: ‘Without an extension of the transition period beyond 2020 you cannot expect to agree on every single aspect of our new partnership. We will have to prioritise.’

Mr Barnier echoed a similar sentiment in a speech in Stockholm today as he said: ‘We are ready to do our best and to do the maximum in the 11 months to secure a basic agreement with the UK, but we will need more time to agree on each and every point of this political declaration.’

This game by these elitists is getting very tiresome. Johnson responded by saying that there would be no extensions.

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Senate considers rules change permitting dismissal of House impeachment lacking submission

2:46 pm

The Republican Senate leadership is considering a rules change that would allow them to dismiss the House impeachment of Donald Trump if the articles of impeachment are not delivered in a timely manner.

The resolution would give the House 25 days to send articles of impeachment over to the Senate. After that, a senator could offer a motion to dismiss “with prejudice for failure by the House of Representatives to prosecute such articles” with a simple majority vote, according to Hawley’s proposal.

I should note that the Senate is entirely within its rights to do this. The Constitution does not require the delivery of those articles in any specific manner, as has become customary. All it says, literally, is that the House “shall have the sole power of impeachment,” and that “the Senate shall have the sole power to try all impeachments.” That’s it. If the Senate wishes to dismiss an impeachment that the House passed but didn’t deliver officially, it can do so.

This Democratic clown show and attempt to overturn an legal election they lost is about to end quite embarrassingly for these Democrats. Hopefully however the embarrassment will be multiplied many fold come November, with a wipe-out landslide for Trump and the Republicans. It is long past time to clean house in the Democratic Party.

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SpaceX crew Dragon launch abort test delayed another week

9:15 am

NASA and SpaceX have delayed the launch abort test flight of the company’s crew Dragon capsule one week, to January 18, in order to allow “additional time for spacecraft processing.”

SpaceX has made it clear for the past month that their hardware is ready to go and that they could have launched by the end of December. That makes me suspect that the processing delay relates to NASA’s bureaucracy and paperwork requirements.

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Firefly reschedules first rocket launch for April

9:29 am

Capitalism in space: Due to a number of engineering issues, Firefly Aerospace has pushed back the first launch of its Alpha rocket from March to April, 2020.

In particular, figuring out the two-stage rocket’s avionics system “gave us fits,” Firefly CEO Tom Markusic told Space.com in a recent interview. That’s because the company was originally hoping to make Alpha’s flight-termination system fully autonomous, he explained.

When the vendor couldn’t qualify that advanced system in time, the vendor switched to the usual “human in the loop” system. But waiting for parts pushed back Firefly’s December 2019 launch time frame to something closer to March 2020. Firefly then chose to take a little more time for further refinements and is now aiming for April 2020 for the first launch of the 95-foot-tall (29 meters) rocket, Markusic said.

According to the article at the link, the company plans two other launches in 2020. We shall see if that pans out.

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Tonight’s SpaceX launch

4:46 pm

Capitalism in space: Tonight SpaceX is hoping to launch another 60 Starlink smallsats as part of its planned huge constellation aimed at providing internet access worldwide.

The launch is scheduled for 9:19 pm Eastern, with a 20 minute launch window. I have embedded the live stream below the fold if you wish to watch, beginning fifteen minutes before launch. Or you can go to SpaceX’s own website instead.

The launch has some significance. First, with this launch SpaceX will leap-frog a number of other satellite companies attempting to accomplish the same thing. Though it only began pursuing this project about two years ago, with this launch SpaceX will have the largest satellite constellation of any company in orbit.

Second, the first stage will be flying for the fourth time, a record, and all flown since September 2018, a mere sixteen months. That’s once every four months, a pace that far exceeds anything the space shuttle ever accomplished. Moreover, SpaceX intends to land it and reuse it again. The launch savings from this reuse guarantees that they will be able to undercut those other satellite companies when they begin offering services on the Starlink constellation. [Note: My readers corrected me: SpaceX has already launched a first stage four times.]

The company will also make another attempt to recover one fairing half.

UPDATE: The launch appears successful, including a successful landing of the first stage.

SpaceX right now is the leader in the 2020 launch race, as they are the only one to have completed a launch in 2020.
» Read more

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NY, Illinois, California populations in decline

9:22 am

According to several different analyses of census data, all released in the past few days, the Democratically-controlled liberal states of New York, Illinois, and California are seeing either historic drops in population or historic drops in population growth.

For these major states to experience reductions in population growth or declines at this time, during an economic expansion, suggests that other factors are driving people from them. Could it be their leftist socialist policies, which routinely bring high taxes, heavy regulation, and an oppressive political climate? I suspect so, especially because in the past century such socialist/communist policies have routinely caused the same result repeatedly in other countries. People fled the Soviet Union and the Eastern Bloc in Europe (controlled by the Soviet Union), they fled North Korea, they fled China for Hong Kong, they fled Cuba, and they have been fleeing from Venezuela.

And where do they go? Foreign refugees in large numbers clamor to enter the U.S., but if that destination is unavailable they then favor other capitalist nations, where freedom and private enterprise are honored. And in the U.S. the populations continues to generally shift toward more conservative states, places where those same concepts are also honored.

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A Christmas Carol

12:01 pm

An afternoon pause: As I have done for several years on Christmas day, I bring you the classic 1951 version of Charles Dickens’ A Christmas Carol, starring Alastair Sim. To my mind this movie is still by far the best adaption of the book. It is also a truly wonderful movie.

As I wrote last year,

Dickens did not demand the modern version of charity, where it is imposed by governmental force on everyone. Instead, he was advocating the older wiser concept of western civilization, that charity begins at home, that we as individuals are obliged as humans to exercise good will and generosity to others, by choice.

It is always a matter of choice. And when we take that choice away from people, we destroy the good will that makes true charity possible.

Enjoy, and have a Merry Christmas!

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Boeing fires CEO

9:12 am

Boeing today fired its CEO Dennis Muilenburg, citing the need to “restore confidence in the company.”

The company has had a very bad year, with the grounding of its 737-Max airplane, the cost overruns and delays in its NASA Space Launch System (SLS) rocket, and the failure of its Starliner manned capsule to dock with ISS this past weekend.

Whether this change will accomplish anything is hard to say. The problems above appear very deeply embedded within the company’s culture, and might require the kind of wholesale changes that big bloated corporations like Boeing are generally loath to impose.

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Starliner lands safely after failed orbital insertion

9:29 pm

Capitalism in space:Boeing’s Starliner capsule successfully landed today in New Mexico, returning to Earth prematurely because of its failure to reach its proper orbit after launch two days ago.

The article quotes extensively from both NASA and Boeing officials touting the many successful achievements of this flight, while trying to minimize the failure that prevented the capsule from docking with ISS properly. And that failure?

The mission elapsed timer issue that cut short Starliner’s planned eight-day mission started before the spacecraft lifted off Friday from Cape Canaveral aboard a United Launch Alliance Atlas 5 rocket, according to Chilton. “Our spacecraft needs to reach down into the Atlas 5 and figure out what time it is, where the Atlas 5 is in its mission profile, and then we set the clock based on that,” Chilton said in a press conference Saturday. “Somehow we reached in there and grabbed the wrong (number). This doesn’t look like an Atlas problem. This looks like we reached in and grabbed the wrong coefficient.”

“As a result of starting the clock at the wrong time, the spacecraft upon reaching space, she thought she was later in the mission, and, being autonomous, started to behave that way,” Chilton said. “And so it wasn’t in the orbit we expected without the burn and it wasn’t in the attitude expected and was, in fact, adjusting that attitude.”

I read this and find myself appalled. While I agree that overall the mission proved the capsule capable of launching humans to ISS (which is why NASA is considering making the next Starliner mission manned despite this failure), this failure suggests a worrisome lack of quality control at Boeing. I can’t even imagine how the Starliner software could be mis-configured to “grab the wrong number.” This explanation makes no sense, and suggests they are spinning the failure to avoid telling us what they really did wrong.

Either way, I suspect that NASA will approve a manned launch for Starliner’s next orbital flight, but will do so only after dwelling on the problem for at least six months.

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Starliner launch fails, spacecraft to return to Earth

9:44 am

After being successfully placed in a preliminary orbit by ULA’s Atlas 5 rocket early this morning, Boeing’s Starliner capsule failed to reach its required orbit for docking with ISS when its own rocket engines did not fire properly at the right time.

The orbit it is in is stable, and the spacecraft is undamaged. Engineers now plan to bring it back to Earth on Sunday, landing at White Sands, New Mexico.

It appears some software issue had the capsule fire its own rockets either at the wrong time or for too short a time. The spacecraft was then in the wrong orbit, and needed to use too much fuel to correct this issue, making it impossible to dock with ISS.

More information here:

However, for reasons Boeing engineers do not yet understand, Starliner’s Mission Event Timer clock malfunctioned, causing the vehicle to think it was at a different point in the mission and at a different time in its mission that it actually was.

…This resulted in Starliner’s Reaction Control System thinking the Orbit Insertion Burn was underway and executing a series of burns to keep the vehicle oriented in the insertion burn attitude; however, the Orbit Insertion Burn was not actually occurring.

When mission controllers realized the issue, they sent manual commands to Starliner to perform an Orbit Insertion Burn in a backup window that came roughly eight minutes after the planned maneuver. However, a known and brief gap in NASA satellite communications caused a further delay.

By the time Starliner was finally able to burn its engines and get into a stable orbit, it had burned 25% more propellant than anticipated.

Boeing is certainly not having a good year. First it has had to shut down production on its new 737-Max airplane due to several crashes caused by software issues. Next its SLS rocket for NASA has had endless cost overruns and delays. Now Starliner fails during its first launch.

For ULA, however, the Atlas 5 rocket performed exactly as planned, so this launch gets listed as a success. They have now completed 5 launches this year.

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Original investors sue Firefly

8:41 am

Capitalism in space: The original investors in Firefly Aerospace, cut out when the company went bankrupt, have filed suit against the reborn company.

A group of original shareholders in the defunct Firefly Space Systems have accused co-founder and CEO Tom Markusic of fraudulently conspiring with Ukrainian billionaire Maxym Polyakov to force the rocket company into bankruptcy in 2017 and reconstitute it under a nearly identical name without giving them any stake in the new venture.

Markusic “betrayed the trust of his original co-founders and investors and committed fraud to cut them out of his aerospace company. Instead of managing the operations of the Original Firefly, a revolutionary rocket company with endless potential, Markusic schemed with…Maxym Polyakov…to rob Plaintiffs of their investments and form a new company called Firefly Aerospace, Inc. (the ‘New Firefly’),” the plaintiffs said in a lawsuit.

The article at the link has a lot more information. Read it all.

This is also not the first time Markusic has been sued. He left Virgin Galactic to found Firefly, and was then sued by Branson’s company for stealing proprietary technology. That lawsuit was settled when Markusic agreed to not use that technology in Firefly’s rockets.

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FISA court condemns FBI

3:37 pm

The FISA court has issued a rare public rebuke of the FBI over its apparent misconduct and illegal tampering of evidence, as documented by the inspector general report released last week, misconduct aimed at misleading the court into issuing uncalled FISA warrants.

[T]he chief judge of the Foreign Intelligence Surveillance Court [FISC] strongly criticized the FBI over its surveillance-application process, giving the bureau until Jan. 10 to come up with solutions, in the wake of findings from Justice Department Inspector General Michael E. Horowitz.

The order, from the court’s presiding judge Rosemary M. Collyer, came just a week after the release of Horowitz’s withering report about the wiretapping of Carter Page, a former campaign adviser to President Trump. “The FBI’s handling of the Carter Page applications, as portrayed in the [Office of Inspector General] report, was antithetical to the heightened duty of candor described above,” Collyer wrote in her four-page order. “The frequency with which representations made by FBI personnel turned out to be unsupported or contradicted by information in their possession, and with which they withheld information detrimental to their case, calls into question whether information contained in other FBI applications is reliable.” [emphasis mine]

This is another independent confirmation that the behavior of the upper echelons of the FBI during the Obama administration was corrupt, apparently acting to take sides during the 2016 election against Donald Trump.

The highlighted words however are to me very distressing. The FISA court is asking the bad apples to come up with new procedures to prevent them from behaving as bad apples again. If this is all that happens then they will have gotten away with it, and will proceed to do worse in 2020 and beyond.

What needs to happen is firm contempt citations against specific individuals, people like James Comey, followed by prosecution. Until that happens the bad guys will still be in charge, and the American justice system will still be corrupted.

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SpaceX successfully launches commercial satellite

9:59 pm

Capitalism in space: Using a first stage for the third time, SpaceX today successfully launched a commercial communications satellite while recovering that first stage.

Fun fact: This first stage recovery today was the 47th time that SpaceX has successfully completed a vertical landing.

The leaders in the 2019 launch race:

30 China
20 Russia
13 SpaceX
7 Europe (Arianespace)

China now leads the U.S. in the national rankings 30 to 26.

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Spygate from a scientific perspective

12:50 pm

Back in February 2018, Republican-controlled committees in both the House and the Senate released detailed memos, dubbed the Nunes and Grassley memos respectively, accusing the FBI and the Obama Justice Department of using unverified and false information that was nothing more than opposition research paid for by the Clinton campaign to illegally obtain Foreign Intelligence Surveillance Act (FISA) warrants from the Foreign Intelligence Surveillance Court (FISC), warrants that allowed them to spy on the campaign of Donald Trump as well as his administration following his election victory in 2016.

Put more bluntly, the Republicans accused the Clinton campaign, with the help of the Obama administration, of weaponizing the surveillance powers of the FBI and the Justice Department in order to defeat their political opponents.

Not surprisingly, the Democrats and former Obama officials denied these allegations, calling both memos partisan and false. In the House the Democrats issued their own memo, claiming the Republican memos left out key information that made their arguments invalid.

Who was right? What was true? How was an ordinary citizen going to determine which of these competing political positions properly described what had actually happened?

At the time I admit my instincts and own personal biases led me to believe the Republicans. Even so, the allegations were so horrifying — suggesting a clear abuse of power and a willingness of people in Washington to subvert an American election — that some skepticism of the Republican accusations was certainly reasonable.

In fact, the best thing one could do in this situation is to take a scientific approach to the problem. The Republicans had put forth a theory, citing some data that suggested the Obama administration, the Justice Department, and the FBI had abused their power in the worst possible manner. To prove that theory the Republicans would require both corroborating evidence as well as independent reviews that confirmed their conclusions.
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Vector files for bankruptcy

8:53 am

Capitalism in space: On December 13 the smallsat rocket company Vector officially filed for bankruptcy, a precursor to having its assets sold off.

The company filed a voluntary petition for bankruptcy with the United States Bankruptcy Court for the District of Delaware, the state where the company was incorporated.

…Vector had been one of the leading companies in the small launch vehicle market until August, when the company said that a “significant change in financing” led it to pause operations and lay off nearly all of its more than 150 employees. Jim Cantrell, Vector’s chief executive, also left the company at the time. That announcement came just two days after the company won an Air Force launch contract.

According to industry sources familiar with the company, the August layoffs were triggered when one of the company’s major investors, venture fund Sequoia, withdrew its support for the company because of concerns about how the company was managed. That came as Vector was working on a new funding round, and Sequoia’s decision had a domino effect, causing other investors to back out. Sequoia didn’t respond to a request for comment in August about any role it played in Vector’s problems.

The company is currently being funded through “debtor in possession” financing from Lockheed Martin, according to a resolution by Vector’s board of directors included in the filing. Under a Nov. 20 agreement, Lockheed provided Vector with a $500,000 secured loan and proposed purchasing Vector’s assets associated with a satellite program called GalacticSky for no more than $2.5 million.

While companies sometimes recover from this situation, in this case Vector looks quite dead, for good. A real tragedy, but part of the reality of capitalism. The competition fuels innovation and success, but carries great risk and the real possibility of failure.

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Major victory for Boris Johnson, Tories, and Brexit

7:18 pm

A victory for democracy: In the elections today in the United Kingdom it appears at this moment that the conservative Tories under Boris Johnson, running under a platform to quickly enforce the public’s vote three years ago to leave the European Union, have won the biggest majority since the 1980s under Margaret Thatcher.

As is typical in the modern journalist field, these results are also much more favorable to the conservatives than all the polls, which had called for a much closer result. The result is also a major rejection of Great Britain’s leftist and increasingly anti-Semitic Labor Party under Jeremy Corbyn.

Most important, the victory for Johnson is also a vindication of his strong position that he and Great Britain’s politicians had a responsibility to respect the voters’ choice three years ago to exit the European Union, and the effort by politicians to nullify that vote was a direct attack on democracy. The voters have clearly shown their contempt for that nullification effort, and have said so forcefully at the polls.

My immediate thought, from an American perspective: If only the American voters were as willing to make such a forceful statement. Our Democratic Party has been acting as bad and as anti-democratic as the politicians in the UK these past three years. It is long past time for a major political house-cleaning in Washington.

So far, the American voters have shown no inclination to do this, however, and in fact in the 2018 election did the exact opposite, rewarding the corrupt Democratic Party with more power by giving them control of the House. The result has been this ludicrous impeachment effort by the Democrats that is blatantly an effort to nullify the 2016 presidential election. They have no grounds for impeachment and the removal of Donald Trump, other than the fact that they don’t like him and that he beat them in a fair election.

They should be punished in the same way. Will the American voters do it? So far I remain pessimistic. I also pray every day that my pessimism turns out to be wrong.

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Buyer of Stratolaunch revealed though unconfirmed

8:43 am

A news story today at Geekwire has revealed, based on business filings in Washington and California, the new owner of the company Stratolaunch.

Filings with regulators in California and Washington show that a new LLC business, also called Stratolaunch, was incorporated in late October, at Stratolaunch’s existing offices in Seattle and Mojave, Calif. The new Stratolaunch’s executive vice president is named as Michael Palmer, Cerberus’ managing director.

Private-equity firms typically replace existing managers as a prelude to realigning businesses they buy, which can involve firing, automation and offshoring. However, it appears that Jean Floyd, Stratolaunch’s president and CEO since 2015, remains in his roles for now.

It appears the new owners, who did not confirm the Geekwire story, are now marketing the huge Roc airplane as a launch platform for hypersonic test flights rather than orbital satellites.

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New Shepard completes another test flight

11:09 am

Capitalism in space: Blue Origin today successfully completed its sixth unmanned test flight (a new record) of its third New Shepard reusable suborbital spacecraft, the twelfth flight total and the ninth to carry commercial payloads.

The capsule reached an altitude of about 342,000 feet elevation.

Blue Origin’s success here is commendable. I just wish their launch pace was faster. At the pace they are setting I am beginning to think that SpaceX will be flying people to the Moon on Starship before Blue Origin flies its first commercial tourist suborbital flight.

I have embedded the video of the flight below the fold.
» Read more

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Morgan Stanley recommends buying Virgin Galactic stock

9:46 am

Capitalism in space: A report yesterday by Morgan Stanley recommended the purchase of Virgin Galactic stock because of its claim that it might repurpose its SpaceShipTwo suborbital spacecraft from space tourism to point-to-point transportation on Earth.

Morgan Stanley began coverage of Virgin Galactic’s stock on Monday with an overweight rating, saying the space tourism company’s shares will soar as it proves out a long-term plan of flying people around the world at hypersonic speeds. “A viable space tourism business is what you pay for today … but a chance to disrupt the multi-trillion-dollar airline [total addressable market] is what is really likely to drive the upside,” Morgan Stanley analyst Adam Jonas wrote in a note to investors.

…Morgan Stanley’s price target of $22 a share represents a 203% increase from Virgin Galactic’s current levels. The company outlined a three phase plan to investors during its roadshow earlier this year. While Morgan Stanley gave a $10 a share valuation to Virgin Galactic’s space tourism business, phases one and two of its plan, the firm sees $12 a share in value from phase three: Hypersonic point-to-point air travel.

The report caused the space company’s lagging stock to surge yesterday, though its value today ($9.41) remains well below its opening price ($12.53).

Personally I think anyone who takes Morgan Stanley’s advice is a fool. Virgin Galactic has spent fifteen years trying to develop this suborbital spacecraft, and has still not flown any customers. Moreover, the design is underpowered, which means I have serious doubts it could be used for any point-to-point transportation. To make that happen will require a complete redesign.

This recommendation by Morgan Stanley also suggests that this is not my investment firm of choice. The analysis here seems very poor and somewhat ignorant of the technology involved, and suggests instead that it was aimed merely to cause a jump in the price so that some of Morgan Stanley’s customers could get rid of their already-purchased stock without too much loss.

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ESA hires private company to remove space junk

9:12 am

Capitalism in space: The European Space Agency has hired the private company ClearSpace to fly an unmanned mission aimed at de-orbiting a large no-longer-needed launch component of its Vega rocket.

The European Space Agency signed a debris-removal contract with Swiss startup ClearSpace tasking the company with deorbiting a substantial piece of a Vega rocket left in orbit in 2013.

The mission, dubbed ClearSpace-1, is slated to launch in 2025 to capture and deorbit a 100-kilogram Vespa payload adapter an Arianespace Vega left in orbit after deploying ESA’s Proba-V remote-sensing satellite.

ClearSpace will lead a consortium of European companies in building a spacecraft equipped with four robotic arms to capture debris and drag it into Earth’s atmosphere.

The real importance of this contract is its nature. ESA is not taking the lead in designing or building the robot to do this work. Instead, it is acting merely as a customer, hiring ClearSpace to develop and build it. Afterward the robot design will belong to ClearSpace, which will then be able to sell that design for further space junk removal contracts.

[Luc Piguet, co-founder and chief executive of ClearSpace] said that while this first mission will destroy both the debris and the servicer spacecraft, future plans call for servicers that could deorbit multiple objects without also destroying themselves.

It seems that the ESA is following the recommendations I put forth in Capitalism in space, shifting power and ownership of its space missions from the agency to the private sector. This is excellent news.

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New Shepard test flight delayed to tomorrow

8:58 am

The sixth flight of Blue Origin’s second New Shepard reusable suborbital capsule has been delayed today until tomorrow due to weather.

As they have done on the last few flights they are launching a number of commercial payloads, including winning high school art chosen as part of a contest sponsored by both Blue Origin and the music band OK Go.

I have embedded below the fold the live stream for tomorrow’s launch, set to go live at around 8 am (Eastern).
» Read more

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Dragon launch abort test set for January 4

11:41 pm

NASA announced on December 6 that the launch abort test of SpaceX’s crew Dragon capsule will occur no earlier than January 4.

SpaceX and NASA originally hoped to launch the test flight, called an In-Flight Abort Test, sometime this month, but an exact launch date was never released. In a statement Friday, NASA officials said the mission will now lift off no earlier than Jan. 4 from Pad 39A of NASA’s Kennedy Space Center in Cape Canaveral, Florida, pending launch range approval from the U.S. Air Force.

The new launch target will push the SpaceX flight beyond the year-end holidays, as well as a planned Boeing launch of its first uncrewed Starliner astronaut taxi for NASA, which is slated to launch Dec. 20.

The article does not explain why a December test was not possible. The second paragraph of the quote above however might give a hint, in that a December launch might have interfered with those Christmas/New Year holidays, and both the agency and the company might have decided it was better for all to wait an extra week or so.

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Father Berndt – A Soldier’s Silent Night

6:01 pm

An evening pause: I think this is appropriate one day before December 7th. From the youtube webpage:

The audio recording of this adapted version was recorded by Father Ted Berndt and his daughter Ellen Stout. Father Berndt was a priest at Bread of Life Charismatic Episcopal Church in Dousman, Wisconsin, a proud Marine, and a WWII Purple Heart recipient.

The poem was recorded in one take. The recording received a national A.I.R. (Achievement in Radio) award from the [u]March of Dimes [/u]and continues to be played in radio stations across the country.

Father Berndt passed away March 19th, 2004 after being diagnosed with pancreatic cancer. According to his daughter, “All he ever wanted to do was touch lives…to make a difference. We are blessed to share “A Soldier’s Silent Night” again with you this Christmas.”

It remains a truth still today that the only soldiers who are routinely welcomed by ordinary people everywhere in the world are American. To paraphrase Chamberlain’s speech in the film Gettysburg (1993), “We come to set other people free.”

Hat tip Edward Thelen.

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Inmarsat bought out and delisted from stock exchange

9:07 am

Capitalism in space: The long established communications satellite company Inmarsat has been bought out by a consortium called Connect Bidco and delisted from stock exchange.

Nor is Inmarsat alone:

Inmarsat is the third satellite operator to delist from public markets this year, following Hong Kong-based AsiaSat and London-based Avanti in September.

Inmarsat reported a loss of $89.1 million on $1.06 billion in revenue for the first nine months of the year. The company claimed $36.1 million in profits on $327.3 million in revenue for the months of July, August and September — it’s last public quarter before the buyout.

This story and the quote above explain what is happening. Established satellite companies, that traditionally have built big geosynchronous satellites, are having increased trouble making money as the industry shifts to smaller satellite and constellations in low Earth orbit.

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Successful Russia and Rocket Lab launches

8:52 am

Two launches successfully took place in the early morning hours today. First Rocket Lab launched seven small satellites into orbit, including one that will release an artificial meteor shower. During that launch they also obtained telemetry of their first stage as it fell to Earth.

Rocket Lab CEO Peter Beck just tweeted that the Electron’s first stage performed well during today’s re-entry experiment. “Electron made it through wall! Solid telemetry all the way to sea level with a healthy stage. A massive step for recovery!!” Beck tweeted.

Russia in turn launched a Progress cargo capsule to ISS.

The leaders in the 2019 launch race:

27 China
19 Russia
12 SpaceX
7 Europe (Arianespace)
6 Rocket Lab

China now leads the U.S. 27 to 25 in the national rankings.

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Lloyd’s introduces new insurance policy for smallsats

10:57 am

Capitalism in space: The insurance company Lloyd’s today introduced a new insurance policy expressly designed for the emerging smallsat launch industry.

The solution – called “Llift Space” – is only available in the Lloyd’s market and allows customers to cover their assets from the pre-launch phase, including transit and placement on the launch vehicle, through to the launch phase and in-orbit operation. It is designed for satellites that weigh less than 300 kilograms (661.4 pounds).

The policy is modular so customers can choose the elements within each phase that are most relevant to their coverage needs.

The product is backed by a consortium of 18 syndicates, led by Brit and Hiscox MGA, with $25 million capacity per risk, and is targeted at the NewSpace sector.

NewSpace is characterized by lower cost, easier routes to space, opening up the sector to private enterprise, wealthy entrepreneurs and innovative start-ups. This is increasing the need for space insurance.

This action is a strong endorsement by the investment business in the future of the new smallsat launch industry.

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