On January 17, Virgin Orbit, the rocket company founded by Sir Richard Branson, successfully put its first satellites into space using its novel air launch system.
"We brought a new technology to space travel," said Virgin Orbit CEO Dan Hart, who joined Cheddar's 'Closing Bell' Friday. "[This] opens up is a whole set of efficiencies and new capabilities of being able to fly out from an airport and get a payload to space."
Wait, airport? Yes, Virgin Orbit implements a novel launch system using a technique it calls air launch, in which a rocket launches under the wing of a jet aircraft, rather than from a more traditional launch pad on the ground. Hart said this gives Virgin Orbit a variety of advantages over competitors.
"There's contention in space right now. The capabilities of mobility to be able to pop up from anywhere in the world and put a spacecraft into orbit is very interesting to the national security sector of the U.S. and our allies as well," he explained.
"It is a gamechanger."
Sir Richard Branson, the founder of the Virgin conglomerate, has two space companies. While Virgin Galactic, which debuted on Wall Street in October of 2019, is focused on human space travel, Virgin Orbit flies satellites and spacecraft into space. Hart said satellites will remain his company's focus and explained that the satellites of today are different from the larger satellites many people are more familiar with.
"Satellites that used to be the size of a school bus are now the size of a microwave or a washing machine," he noted.
Hart also explained how NASA is moving to smaller satellites for earth science objectives and some interplanetary work. Virgin Orbit's January 17 launch was a part of NASA's launch service program, and Hart couldn't stop beaming.
"We were just delighted to put up 10 research and experimental spacecraft for them. That was our first revenue-bearing launch, and it was a brilliant success... we will launch with NASA more."
So, what does the future have in store? Hart was confident that the Biden administration will continue to push space forward, and with the influx of companies entering the space arena, Hart provided a bright outlook.
"It's really exciting to see the innovation that's happening across the industry," he said. "We're in a renaissance of space right now."
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
