Friday, January 16, 2009

American politician Roland Burris of the United States Democratic Party was sworn in Thursday as US president-elect Barack Obama’s replacement in the United States Senate.

Burris was initially not admitted into the Senate, even though Governor of Illinois Rod Blagojevich appointed him to the position, due to allegations that the governor tried to sell the seat. Blagojevich was arrested and has been impeached for the alleged crime. Burris was denied his position on January 6 by other Democratic members of the Congress because his appointment papers were not signed by Jesse White, the Illinois Secretary of State, who had refused to sign his name due to the charges faced by Blagojevich.

Burris was officially sworn in by United States Vice President Dick Cheney with no objections from other members of the Congress. Harry Reid, the senior Democratic senator from Nevada and majority leader, who had led the opposition to Burris being appointed, welcomed him into the Senate.

“On behalf of all senators, Democrats and Republicans, we welcome you as a colleague and a friend,” Reid said.

“No one’s ever had anything against Sen. Burris. Like any other senator, he’ll have to learn the ropes and not get lost getting to committee hearings, like I have. I think he’ll come in with people open to meeting with him and getting to know him. I think it will be just fine,” said Senator Amy Klobuchar of Minnesota on the matter. Most other comments by senators stated that they were not against Burris as a person, but were against his appointment by Rod Blagojevich.

With the appointment, Burris becomes the only African-American member of the United States Senate. This makes the count of Democrats to Republicans in the Senate 58 Democrats and 41 Republicans, with the final seat waiting on a vote recount ordered by Norm Coleman in his loss to Al Franken of Minnesota.

Saturday, January 29, 2011

Police in Russia say they have identified the man behind the bombing of Moscow’s Domodedovo International Airport on Monday, although they will not yet name him. Police said the man who killed 35 was a twenty-year-old suicide bomber from the North Caucasus region.

An Investigative Committee statement delivered by spokesman Vladimir Markin said “We have established the identity of the terrorist suicide bomber who set off the explosive. He turned out to be a 20-year-old native from one of the North Caucasus republics,” and “Despite the investigation having established the name of the terrorist, we will not name him today,” because it may hamper ongoing efforts to detain people suspected of collaborating.

Markin added “I would especially like to note that it was by no means an accident that the act of terror was committed in the international arrivals hall… According to investigators, the act of terror was first and foremost aimed against foreign citizens.” Eight of those killed were foreigners and several flights had just landed from European origins.

President Dmitry Medvedev sacked several transportations officials in the wake of the bombing. The nation’s transport infrastructure will deal with extra visitors when the country hosts the 2014 Winter Olympics and 2018 World Cup. Medvedev has targeted both security officials and airport management in the wake of the bombing.

Few official details have been released by the investigation and unofficial reports in the press have been contradictory; one report suggested a suicide bomber wearing a plastic explosive-based shrapnel bomb belt. Another said it could have been detonated remotely, while a third suggested a timer. Russian newspapers initially suggested a bag had exploded on the floor, while local TV has shown CCTV footage of the explosion. Unconfirmed reports also claim the Federal Security Service was searching for three people ahead of the attack and that the bomber was Vitaly Razdobudko of Stavropol.

Although nobody has claimed responsibility or been arrested for the airport attack, Markin told reporters several people have been brought in on suspicion of planning an attack on December 31, while others are being sought. He linked them to an explosion on the 31st in a Moscow hotel, in which a bomber died after the device he was building went off prematurely.

Prime Minister Vladimir Putin said on Wednesday that the attack is not thought to be linked to Chechnyan insurgency. The attack is Moscow’s second within a year, with two women from Dagestan, North Caucuses blowing themselves up on the Metro and killing 39 in 2010.

Saturday, October 6, 2007

Few artists ever penetrate the subconscious level of American culture the way RuPaul Andre Charles did with the 1993 album Supermodel of the World. It was groundbreaking not only because in the midst of the Grunge phenomenon did Charles have a dance hit on MTV, but because he did it as RuPaul, formerly known as Starbooty, a supermodel drag queen with a message: love everyone. A duet with Elton John, an endorsement deal with MAC cosmetics, an eponymous talk show on VH-1 and roles in film propelled RuPaul into the new millennium.

In July, RuPaul’s movie Starrbooty began playing at film festivals and it is set to be released on DVD October 31st. Wikinews reporter David Shankbone recently spoke with RuPaul by telephone in Los Angeles, where she is to appear on stage for DIVAS Simply Singing!, a benefit for HIV-AIDS.

DS: How are you doing?

RP: Everything is great. I just settled into my new hotel room in downtown Los Angeles. I have never stayed downtown, so I wanted to try it out. L.A. is one of those traditional big cities where nobody goes downtown, but they are trying to change that.

DS: How do you like Los Angeles?

RP: I love L.A. I’m from San Diego, and I lived here for six years. It took me four years to fall in love with it and then those last two years I had fallen head over heels in love with it. Where are you from?

DS: Me? I’m from all over. I have lived in 17 cities, six states and three countries.

RP: Where were you when you were 15?

DS: Georgia, in a small town at the bottom of Fulton County called Palmetto.

RP: When I was in Georgia I went to South Fulton Technical School. The last high school I ever went to was…actually, I don’t remember the name of it.

DS: Do you miss Atlanta?

RP: I miss the Atlanta that I lived in. That Atlanta is long gone. It’s like a childhood friend who underwent head to toe plastic surgery and who I don’t recognize anymore. It’s not that I don’t like it; I do like it. It’s just not the Atlanta that I grew up with. It looks different because it went through that boomtown phase and so it has been transient. What made Georgia Georgia to me is gone. The last time I stayed in a hotel there my room was overlooking a construction site, and I realized the building that was torn down was a building that I had seen get built. And it had been torn down to build a new building. It was something you don’t expect to see in your lifetime.

DS: What did that signify to you?

RP: What it showed me is that the mentality in Atlanta is that much of their history means nothing. For so many years they did a good job preserving. Don’t get me wrong, I’m not a preservationist. It’s just an interesting observation.

DS: In 2004 when you released your third album, Red Hot, it received a good deal of play in the clubs and on dance radio, but very little press coverage. On your blog you discussed how you felt betrayed by the entertainment industry and, in particular, the gay press. What happened?

RP: Well, betrayed might be the wrong word. ‘Betrayed’ alludes to an idea that there was some kind of a promise made to me, and there never was. More so, I was disappointed. I don’t feel like it was a betrayal. Nobody promises anything in show business and you understand that from day one.

But, I don’t know what happened. It seemed I couldn’t get press on my album unless I was willing to play into the role that the mainstream press has assigned to gay people, which is as servants of straight ideals.

DS: Do you mean as court jesters?

RP: Not court jesters, because that also plays into that mentality. We as humans find it easy to categorize people so that we know how to feel comfortable with them; so that we don’t feel threatened. If someone falls outside of that categorization, we feel threatened and we search our psyche to put them into a category that we feel comfortable with. The mainstream media and the gay press find it hard to accept me as…just…

DS: Everything you are?

RP: Everything that I am.

DS: It seems like years ago, and my recollection might be fuzzy, but it seems like I read a mainstream media piece that talked about how you wanted to break out of the RuPaul ‘character’ and be seen as more than just RuPaul.

RP: Well, RuPaul is my real name and that’s who I am and who I have always been. There’s the product RuPaul that I have sold in business. Does the product feel like it’s been put into a box? Could you be more clear? It’s a hard question to answer.

DS: That you wanted to be seen as more than just RuPaul the drag queen, but also for the man and versatile artist that you are.

RP: That’s not on target. What other people think of me is not my business. What I do is what I do. How people see me doesn’t change what I decide to do. I don’t choose projects so people don’t see me as one thing or another. I choose projects that excite me. I think the problem is that people refuse to understand what drag is outside of their own belief system. A friend of mine recently did the Oprah show about transgendered youth. It was obvious that we, as a culture, have a hard time trying to understand the difference between a drag queen, transsexual, and a transgender, yet we find it very easy to know the difference between the American baseball league and the National baseball league, when they are both so similar. We’ll learn the difference to that. One of my hobbies is to research and go underneath ideas to discover why certain ones stay in place while others do not. Like Adam and Eve, which is a flimsy fairytale story, yet it is something that people believe; what, exactly, keeps it in place?

DS: What keeps people from knowing the difference between what is real and important, and what is not?

RP: Our belief systems. If you are a Christian then your belief system doesn’t allow for transgender or any of those things, and you then are going to have a vested interest in not understanding that. Why? Because if one peg in your belief system doesn’t work or doesn’t fit, the whole thing will crumble. So some people won’t understand the difference between a transvestite and transsexual. They will not understand that no matter how hard you force them to because it will mean deconstructing their whole belief system. If they understand Adam and Eve is a parable or fairytale, they then have to rethink their entire belief system.

As to me being seen as whatever, I was more likely commenting on the phenomenon of our culture. I am creative, and I am all of those things you mention, and doing one thing out there and people seeing it, it doesn’t matter if people know all that about me or not.

DS: Recently I interviewed Natasha Khan of the band Bat for Lashes, and she is considered by many to be one of the real up-and-coming artists in music today. Her band was up for the Mercury Prize in England. When I asked her where she drew inspiration from, she mentioned what really got her recently was the 1960’s and 70’s psychedelic drag queen performance art, such as seen in Jack Smith and the Destruction of Atlantis, The Cockettes and Paris Is Burning. What do you think when you hear an artist in her twenties looking to that era of drag performance art for inspiration?

RP: The first thing I think of when I hear that is that young kids are always looking for the ‘rock and roll’ answer to give. It’s very clever to give that answer. She’s asked that a lot: “Where do you get your inspiration?” And what she gave you is the best sound bite she could; it’s a really a good sound bite. I don’t know about Jack Smith and the Destruction of Atlantis, but I know about The Cockettes and Paris Is Burning. What I think about when I hear that is there are all these art school kids and when they get an understanding of how the press works, and how your sound bite will affect the interview, they go for the best.

DS: You think her answer was contrived?

RP: I think all answers are really contrived. Everything is contrived; the whole world is an illusion. Coming up and seeing kids dressed in Goth or hip hop clothes, when you go beneath all that, you have to ask: what is that really? You understand they are affected, pretentious. There’s nothing wrong with that, but it’s how we see things. I love Paris Is Burning.

DS: Has the Iraq War affected you at all?

RP: Absolutely. It’s not good, I don’t like it, and it makes me want to enjoy this moment a lot more and be very appreciative. Like when I’m on a hike in a canyon and it smells good and there aren’t bombs dropping.

DS: Do you think there is a lot of apathy in the culture?

RP: There’s apathy, and there’s a lot of anti-depressants and that probably lends a big contribution to the apathy. We have iPods and GPS systems and all these things to distract us.

DS: Do you ever work the current political culture into your art?

RP: No, I don’t. Every time I bat my eyelashes it’s a political statement. The drag I come from has always been a critique of our society, so the act is defiant in and of itself in a patriarchal society such as ours. It’s an act of treason.

DS: What do you think of young performance artists working in drag today?

RP: I don’t know of any. I don’t know of any. Because the gay culture is obsessed with everything straight and femininity has been under attack for so many years, there aren’t any up and coming drag artists. Gay culture isn’t paying attention to it, and straight people don’t either. There aren’t any drag clubs to go to in New York. I see more drag clubs in Los Angeles than in New York, which is so odd because L.A. has never been about club culture.

DS: Michael Musto told me something that was opposite of what you said. He said he felt that the younger gays, the ones who are up-and-coming, are over the body fascism and more willing to embrace their feminine sides.

RP: I think they are redefining what femininity is, but I still think there is a lot of negativity associated with true femininity. Do boys wear eyeliner and dress in skinny jeans now? Yes, they do. But it’s still a heavily patriarchal culture and you never see two men in Star magazine, or the Queer Eye guys at a premiere, the way you see Ellen and her girlfriend—where they are all, ‘Oh, look how cute’—without a negative connotation to it. There is a definite prejudice towards men who use femininity as part of their palette; their emotional palette, their physical palette. Is that changing? It’s changing in ways that don’t advance the cause of femininity. I’m not talking frilly-laced pink things or Hello Kitty stuff. I’m talking about goddess energy, intuition and feelings. That is still under attack, and it has gotten worse. That’s why you wouldn’t get someone covering the RuPaul album, or why they say people aren’t tuning into the Katie Couric show. Sure, they can say ‘Oh, RuPaul’s album sucks’ and ‘Katie Couric is awful’; but that’s not really true. It’s about what our culture finds important, and what’s important are things that support patriarchal power. The only feminine thing supported in this struggle is Pamela Anderson and Jessica Simpson, things that support our patriarchal culture.

Thursday, July 3, 2014

Ian Narev, the CEO of the Commonwealth Bank of Australia, this morning “unreservedly” apologised to clients who lost money in a scandal involving the bank’s financial planning services arm.

Last week, a Senate enquiry found financial advisers from the Commonwealth Bank had made high-risk investments of clients’ money without the clients’ permission, resulting in hundreds of millions of dollars lost. The Senate enquiry called for a Royal Commission into the bank, and the Australian Securities and Investments Commission (ASIC).

Mr Narev stated the bank’s performance in providing financial advice was “unacceptable”, and the bank was launching a scheme to compensate clients who lost money due to the planners’ actions.

In a statement Mr Narev said, “Poor advice provided by some of our advisers between 2003 and 2012 caused financial loss and distress and I am truly sorry for that. […] There have been changes in management, structure and culture. We have also invested in new systems, implemented new processes, enhanced adviser supervision and improved training.”

An investigation by Fairfax Media instigated the Senate inquiry into the Commonwealth Bank’s financial planning division and ASIC.

Whistleblower Jeff Morris, who reported the misconduct of the bank to ASIC six years ago, said in an article for The Sydney Morning Herald that neither the bank nor ASIC should be in control of the compensation program.

Sunday, June 17, 2007

The National Transportation Safety Board (NTSB), the agency responsible for investigating transportation accidents in the United States, released updates on three major investigations on June 14.

The NTSB, well known publicly for its involvement in the investigation of aviation incidents which involve harm or loss of human life, is also an agency that oversees the transportation of refined petroleum and gas products, chemicals and minerals.

The agency determined the cause of a natural gas pipeline explosion that killed six. It also detailed the cause of an accidental release of 204,000 gallons of anhydrous ammonia from a pipeline in an environmentally sensitive area, and released preliminary information involving two commercial aircraft coming within 30-50 feet of each other on a runway.

In the gas explosion disaster, the towing vessel Miss Megan, which was of specifications that did not require inspection by the United States Coast Guard, was being operated in the West Cote Blanche Bay oil field in Louisiana by Central Boat Rentals on behalf of Athena Construction on October 12, 2006. The Miss Megan was pushing barge IBR 234, which was tied along the starboard side of barge Athena 106, en route to a pile-driving location. Athena Construction did not require its crews to pin mooring spuds (vertical steel shafts extending through wells in the bottom of the boat and used for mooring) securely in place on its barges and consequently this had not been done. During the journey, the aft spud on the Athena 106 released from its fully raised position. The spud dropped into the water and struck a submerged, high-pressure natural gas pipeline. The resulting gas released ignited and created a fireball that engulfed the towing vessel and both barges. The master of the towing vessel and four barge workers were killed. The Miss Megan deckhand and one barge worker survived. One barge worker is officially listed as missing.

The NTSB blames Athena Construction for the disaster, citing in the final report that Athena Construction’s manual contained no procedures mandating the use of the safety devices on the spud winch except during electrical work. It was found that if the Athena 106 crew had used the steel pins to secure the retracted spuds during their transit, a pin would have prevented the aft spud from accidentally deploying. Furthermore, the spud would have remained locked in its lifted position regardless of whether the winch brake mechanism, the spud’s supporting cable, or a piece of connecting hardware had failed.

The NTSB also found that contributing to the accident was the failure of Central Boat Rentals to require, and the Miss Megan master to ensure, that the barge spuds were securely pinned before getting under way. The Board noted that investigators found no evidence that the Miss Megan master or deckhand checked whether the spuds had been properly secured before the tow began. While Central Boat Rentals had a health and safety manual and trained its crews, the written procedures did not specifically warn masters about the need to secure spuds or other barge equipment before navigating. The NTSB stated that the company’s crew should have been trained to identify potential safety hazards on vessels under their control.

NTSB Chairman Mark Rosenker said of the investigation’s results, “Having more rigorous requirements in place could have prevented this accident from occurring. Not only do these regulations need to be put in place but it is imperative that they are enforced and adhered to.”

The NTSB has made a number of safety recommendations as a result of this accident and the subsequent investigation. Recommendations were made to Athena Construction and Central Boat Rentals to develop procedures and train the employees of its barges to use the securing pins to hold spuds safely in place before transiting from one site to another.

The most major of the other recommendations are:

To the Occupational Safety and Health Administration:

• Direct the Maritime Advisory Committee for Occupational Safety and Health to issue the following documents document to the maritime industry: (1) a fact sheet regarding the accident, and (2) a guidance document regarding the need to secure the gear on barges, including spud pins, before the barges are moved, and detailing any changes to your memorandum of understanding with the Coast Guard.

To the U. S. Coast Guard

• Finalize and implement the new towing vessel inspection regulations and require the establishment of safety management systems appropriate for the characteristics, methods of operation, and nature of service of towing vessels.
• Review and update your memorandum of understanding with the Occupational Safety and Health Administration to specifically address your respective oversight roles on vessels that are not subject to Coast Guard inspection.

The NTSB also released the result of its investigation into an environmental disaster in Kansas on October 27, 2004 in which 204,000 gallons (4,858 barrels) of anhydrous ammonia was spilled from a ruptured pipeline in Kingman into an environmentally sensitive area. Chemicals from the pipeline entered a nearby stream and killed more than 25,000 fish, including some fish from threatened species.

The incident reached the scale that it did due to operator error after the initial rupture. The 8 5/8-inch diameter steel pipeline, which was operated by Enterprise Products Operating L.P., burst at 11:15 a.m. in an agricultural area about 6 miles east of Kingman, Kansas. A drop in pipeline pressure, indicating abnormal conditions or a possible compromise in pipeline integrity, set off alarms displayed on the computerized pipeline monitoring system. Shortly after the first alarm the pipeline controller, in an attempt to remedy the low pressure, increased the flow of anhydrous ammonia into the affected section of pipeline. A total of 33 minutes elapsed between the time when the first alarm indicated a problem with the pipeline and the initiation of a shutdown.

In its initial report to the National Response Center (NRC), the pipeline operator’s accident reporting contractor reported a release of at least 20 gallons of ammonia, telling the NRC that an updated estimate of material released would be reported at a later time. No such report was ever made. Because of the inaccurate report, the arrival of representatives from the Environmental Protection Agency was delayed by a full day, affecting the oversight of the environmental damage mitigation efforts.

The cause of the rupture itself was determined to be a pipe gouge created by heavy equipment damage to the pipeline during construction in 1973 or subsequent excavation activity at an unknown time that initiated metal fatigue cracking and led to the eventual rupture of the pipeline.

“We are very fortunate that such highly toxic chemicals of the size and scope involved in this accident were not released in a populated area,” commented Rosenker. “Had this same quantity of ammonia been released near a town or city, the results could have been catastrophic.”

As a result of this accident, the NTSB made the following safety recommendations:

To the Pipeline and Hazardous Materials Safety Administration:

• Require that a pipeline operator must have a procedure to calculate and provide a reasonable initial estimate of released product in the telephonic report to the National Response Center.
• Require that a pipeline operator must provide an additional telephonic report to the National Response Center if significant new information becomes available during the emergency response.
• Require an operator to revise its pipeline risk assessment plan whenever it has failed to consider one of more risk factors that can affect pipeline integrity.

To Enterprise Products Operating L.P.:

• Provide initial and recurrent training for all controllers that includes simulator or noncomputerized simulations of abnormal operating conditions that indicate pipeline leaks.

“The severity of this release of dangerous chemicals into the community could have been prevented,” said Rosenker. “The safety recommendations that we have made, if acted upon, will reduce the likelihood of this type of accident happening again.”

As well as concluding their investigation of the above accidents, the NTSB also released preliminary information regarding a serious runway incursion at San Francisco International Airport between two commercial aircraft on May 26, 2007.

At about 1:30 p.m. the tower air traffic controller cleared SkyWest Airlines flight 5741, an Embraer 120 arriving from Modesto, California, to land on runway 28R. Forgetting about the arrival airplane, the same controller then cleared Republic Airlines flight 4912, an Embraer 170 departing for Los Angeles, to take off from runway 1L, which intersects runway 28R.

After the SkyWest airliner touched down, the Airport Movement Area Safety System (AMASS) alerted and the air traffic controller transmitted “Hold, Hold, Hold” to the SkyWest flight crew in an attempt to stop the aircraft short of runway 1L. The SkyWest crew applied maximum braking that resulted in the airplane stopping in the middle of runway 1L. As this was occurring, the captain of Republic Airlines flight 4912 took control of the aircraft from the first officer, realized the aircraft was traveling too fast to stop, and initiated an immediate takeoff. According to the crew of SkyWest 5741, the Republic Airlines aircraft overflew theirs by 30 to 50 feet. The Federal Aviation Administration has categorized the incident as an operational error.

The NTSB sent an investigator to San Francisco, who collected radar data, recorded air traffic control communications, and flight crew statements, and interviewed air traffic control personnel prior to the NTSB making the preliminary release.

Thursday, April 14, 2005

An exhausted Charles Kennedy returned to the election campaign to launch a twenty page Liberal Democrat manifesto targeted at disaffected Labour voters, promising a fairer tax system and withdrawal from Iraq.

Entitled The Real Alternative the manifesto pledges to reduce the lowest rate of income tax, but increase the rate on those earning over £100,000 to 50%. The party would also scrap the unpopular local council tax in favour of a new local income tax. The manifesto also promises to remove hidden “stealth taxes”.

Under this system the party claims the poorest 15 million (25%) of people in Britain would be better off, and the middle 50% would be paying no extra tax.

The manifesto promised to scrap the controversial university tuition fees, increase services for pensioners and add £100 a month to the state pension, and train 21,000 new primary school teachers and 10,000 new police. A Lib Dem government would make eye and dental checks free, and reduce the cost of prescription medicine.

The Liberal Democrats were the only one of the three largest parliamentary parties to have consistently voted against the Iraq war, and the manifesto has promised an exit strategy with a phased withdrawal of Britain’s 8,000 troops still in the country.

“We reject a foreign policy based on ‘my ally right or wrong’,” Kennedy said. “And we say that war should always be a last resort.”

Kennedy, who became a father on Tuesday, admitted he’d had little sleep before the manifesto launch, and stumbled while answering questions on the proposed tax system.

Thursday, March 12, 2015

The Associated Press (AP) reported on Tuesday the U.S. Secret Service is conducting drone exercises over Washington, D.C. to defend against unmanned aerial vehicles being flown over the area.

The Federal Aviation Administration (FAA) approved the Secret Service to conduct these flying exercises. The exercises are to be over parts of D.C. airspace which is normally off-limits below 18,000 feet, also called a no-fly aone or the D.C. flight restricted zone. The exercises are to take place in the very early morning hours over the next several weeks.

According to AP, a U.S. official speaking under condition of anonymity said the agency is testing these drones for law enforcement and to defend against potentially dangerous drones, but declined to comment on the specific details because they’re classified. However, they sought to prevent concerns by possible witnesses by publicizing their intent to conduct tests. The agency is cautious of witnesses of unmanned aerial vehicles flying over D.C. because of a drone sighting incident several weeks ago. Witnesses saw several unidentified drones flying over Paris, France, which caused concerns.

AP said techniques to be tested include signal jamming. Most drones use radio-frequency signals for remote control. Intercepting these signals might allow tracking the drones. Jamming, though, could interrupt Wi-Fi of people in the vicinity.

The FAA last month announced preliminary guidelines requiring UAVs be operated within sight of the operator, prohibiting night flying, and requiring speeds below 100 miles per hour (about 160 kph) and altitudes below 500 feet.

Saturday, January 19, 2008

Adam Aircraft Industries has laid off 300 members of its 800-strong workforce and suspended operations at their plant in Ogden, Utah. The moves come as the result of unexpected financial difficulties.

In addition, Adam is transferring much of its work at Pueblo, Colorado to its headquarters at Centennial. The only operations that are to continue in Pueblo is machine shop work. In addition to these three locations, Adam had previously been considering the possibility of a plant at New Mexico.

Fifty employees were laid off at the Ogden facility, 170 in Pueblo and 80 in Centennial. Ogdon is planned to remain inoperational for six months. Laid off workers may be able to obtain new positions within the company when production resumes.

Adam Aircraft are producing two carbon composite aircraft: the Adam A500 twin-engine piston aircraft, which is certified and due to enter full production soon, and the Adam A700 very light jet, which is undergoing US federal certification processes.

Adam Aircraft spokesperson Shelly Simi said that the company is looking for between US$75 million and $100 million, and that they are in talks with Citibank to secure these funds.

Adam secured $93 million in August 2006, and $105 million in June 2007. The A500 is valued at $1.2 million and the A700 at $2.5 million. Seventeen A500s have been manufactured, of which seven have been delivered to customers. The backlog of orders totals around $1 billion.

Adam Aircraft President Duncan Koerbel released a statement that said To provide for our future growth, we must be strategic in our focus by managing current cash expenditures to ensure adequate time to secure financing for the long term. We’re off to a good start in this effort with assistance from our partner, Citibank, but we need to be able to provide them with sufficient time working with potential investors to secure long term financing.”