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September 17, 2019
CNN 10 - September 17, 2019
Israel`s Second General Election;
General Motors Strike;
Flying at the World`s Busiest Airport
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CARL AZUZ, CNN 10 HOST:
Welcome to CNN 10 everyone. I`m Carl Azuz at the CNN center.
Israel`s Second General Election
First story this Tuesday explains an election, the second one explains a strike. We`ll start in the Middle Eastern country of Israel. Voters there are going back to the polls today for Israel`s second general election within six months.
The reason for that has to do with Israel`s Knesset, its parliament. In order to serve as Israel`s prime minister, a leader needs the support of most of the seats in the Knesset. There are 120 seats there so a leader needs at least 61 of them in support.
But there`s a complication. There are dozens of political parties in Israel and no single party is likely to win 61 seats in an election. So what a law maker has to do to serve his prime minister is form a coalition government. A group of parties working together that gives a leader at least 61 seats in the Knesset.
Right after April`s elections, incumbent Prime Minister Benjamin Netanyahu was expected to serve a record fifth term but then there was a deadlock among the political parties. Prime Minister Netanyahu did not get enough of them to back him up with that 61 seat majority.
It was the first time in Israel`s history that an election didn`t lead to a coalition government. So the Prime Minister called for a new general election. The one that happens today. Will it give him the 61 seats he needs for a coalition government. Will it give that to another Israeli lawmaker. Is more deadlock ahead. Israel waits to see.
General Motors Strike
We also mentioned a strike. More than 48,000 workers across nine U.S. states walked off the job yesterday. They`re employees of General Motors; makers of Buick, Cadillac, Chevrolet, and GMC.
The union that represents the workers says GM is putting profits ahead of employees who have kept GM in business. The union wants GM to change its plans to close four plants in the days ahead. It`s also pushing for better pay, benefits, job security, and for GM to share more profits with employees.
General Motors says its average hourly employee makes $90,000 per year, not including benefits. And it says it offered the union a solution for two of the plants set to close, plus better pay, more profit sharing, and an investment in new jobs.
Analysts say all three of the major U.S. car makers are dealing with slower sales. The United Auto Workers strike against General Motors is the largest strike by any union against any business since the last strike at GM in 2007.
10 second trivia.
In 1602, the Dutch East India Company sold shares to investors, creating the first what? Duopoly, hedge fund, IPO, or custodial account? This was the first modern IPO, an Initial Public Offering.
Pros and Cons of Taking a Company Public
That`s how businesses that start private go public. They put company shares on a stock exchange for the public to buy. Beyond Meat, which makes meat substitutes saw its stock soar after it offered an IPO in early May.
The SmileDirectClub, which uses 3D printed molds to straighten teeth saw its stock slump after it issued an IPO last week. Why do companies do this?
CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT:
A splashy initial public offering can grab headlines but generating buzz isn`t the biggest reason why companies go public.
It`s really about raising cold hard cash. When a company sells shares of stock to the public, it`s hoping for a big pay day. It can use that money to expand, to hire, to invest in projects, and even to allow early investors to cash out.
With access to cheap capital, companies can attract talent and fun acquisitions. Of course private companies raise money too but relying on angel investor`s adventure capital can be limiting.
Going public gives start ups flexibility in a way that staying private can`t. And it gives shareholders a liquid asset to trade on the public market. Going public can also lend credibility and intimidate competitors.
After all, an IPO is a form of advertising. A buzzy offering means more exposure for a brand and that can translate into higher sales and profits.
But not all initial public offerings go as planned. Ride hail companies; Uber and Lyft famously disappointed. Snapchat and BlueApron also stumbled following their debus. Even Facebook struggled for a few months after it`s heavily hyped IPO in 2012.
According to a Cornell study, a third of IPOs will disappoint and eventually de-list. Being a public company also means more scrutiny. The books are wide open to investors and to regulators. And the pressure to deliver short term financial goals is intense. Yes, there are risk to going public but for many start ups, it`s still worth it. The pay off for years of a building a business is ready to trade on the open market.
Flying at the World`s Busiest Airport
107 million people. That`s how many traveled through Hartsfield Jackson, Atlanta International Airport last year and that made it the busiest passenger airport on the planet according to an airports council international report.
What made it busy enough to win that title for 21 years straight. Hartsfield`s a port of entry in the North America and it`s within a two hour flight of 80 percent of the U.S. population.
Beijing Capital International and Dubai Airport were in second and third place. Richard Quest got some simulated flight time.
(BEGIN VIDEO TAPE)
RICHARD QUEST: CNN CORRESPONDENT:
When you take off from Atlanta, what are the things that you need to bear in mind. More than any other airport?
Well, Atlanta is the busiest airport in the world and as a result the radio traffic is daunting, the radio calls are just constant so you have to listen very carefully and you have to be very careful with you taxi to insure that you`re on the correct taxi way and that you don`t incur on a runway or do something else and taxi to the wrong place as you`re getting ready for takeoff.
I think we`re ready.
Go for 767 heavy Atlanta power. The current winds are calm. Clear for takeoff runway two, seven, or eight.
Ready let`s go.
All right. 89`s (ph) throttle hold, thrust normal. (Inaudible) the airport is at 2 o`clock.
What would I be seeing normally in terms of other aircraft movements at the moment?
You would see a field of aircraft. You would see aircraft in front of you, you would see aircraft over here on the north complex, you would see aircraft taking off at the far end, and you would see guys turning on to the south run way.
Can it be quite intimidating to see all of that whilst at the same time I`m trying to concentrate on that one runway that I`m going into.
Absolutely. It`s the pilot`s responsibility, of course, to keep from hitting anyone, so air traffic control and the pilots are both working together. So you have to monitor all these targets and insure that nobody incurs into your airspace and causes a threat.
Number 767 heavy Atlanta tower, the current winds are calm. You`re clear to land.
And now normally you would have an aircraft at this point on short final.
So there`d (ph) be another aircraft in front of us.
That`s correct. And what you`re watching is he needs to clear this runway before we touchdown. And the tower and air traffic control has made that happen by assigning us air speeds and the pilot using his good judgment because we can`t be on the runway at the same time he is for obvious reasons.
You can see you`re red over white, meaning you`re on the proper glide path and instrumentation here confirms that. We`re properly configured and we should be touching down shortly.
You try to touch down in the first third or 3,000 feet of the runway. I`m going to click off your auto pilot so you`re going to be flying but the auto throttles will still be engaged. OK.
Up a little bit. Nose up. There you go. Small corrections but -- but very quick corrections. Looking good. You`re red over white. OK. Looking good. Slightly to the right. Pull, pull, pull, pull. Boom.
All right. Brakes, brakes.
You`re on the concrete. You`ve been successful. Well done. You did it. Now your passengers would complain, they always do.
Right. Ready again. The first time you landed or at Atlanta, do you remember it?
Yes, I do.
What was it like?
It -- it was really busy. I was a young co-pilot and I was probably sweating a gallon of water. We landed the aircraft and then immediately as the co-pilot you have to go into your after landing check list. You have to be talking on the radios. So there was no time to savor the experience.
There`s nothing quite like Atlanta.
No, not at all. Definitely the world`s busiest airport.
(END VIDEO TAPE)
10 Out of 10
For 10 out of 10, buckle up and don`t blink. What you didn`t just see right there was a sled. A U.S. Air Force test vehicle that was traveling along the rails of Holloman Air Force Base at around 6,599 miles per hour. That makes it hypersonic, meaning faster than five times the speed of sound.
Its part of an Air Force effort to develop vehicles and materials that are capable of withstanding extraordinary speed and acceleration, which mach at (inaudible) that anyone could mach something so fast. It`s like the project has gone off the rails even if it stays on them.
A hyped up hypersonic sleigh that`s faster than a speeding hedgehog and more powerful than a burning rosebud. Citizen (ph) can you believe it.
It`s like cinematic cinemagic on CNN 10. I`m Carl Azuz.
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