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What to Know Concerning the Boeing 737-500 Sriwijaya Air Airplane Crash

What to Know About the Boeing 737-500 Sriwijaya Air Plane Crash

The crash of an airplane in Indonesia with more than 60 people is a difficult time for aviation giant Boeing. Its reputation was marred by years of investigations into fatal crashes.

While authorities are still investigating the cause, the plane that crashed near the Indonesian capital Jakarta on Saturday was a 26-year-old 737-500, a workhorse model with a good safety record. The aircraft at the center of the Boeing crisis was the 737 Max, a later version with flawed anti-stall software that led to two fatal crashes.

Here’s what you should know about the Boeing plane crashing in Indonesia.

It is unclear what caused the crash. Sriwijaya Air Flight 182, which flew to the town of Pontianak on the island of Borneo, took off after a delay in bad weather in heavy monsoon rains. It crashed more than 10,000 feet in less than a minute, according to tracking site Flightradar24.

Indonesia, an archipelago nation with thousands of islands, is heavily dependent on air traffic. Although the country has a long history of air accidents, Sriwijaya Air has not had a single fatal crash since it opened in 2003.

The plane involved in the Sriwijaya Air crash, which lost contact shortly after taking off from Jakarta on Saturday, was a Boeing 737-500, a proven model developed in the 1980s, and not the one in trouble Accidental airliner 737 Max, which landed on the ground after fatal crashes in 2018 and 2019.

The aircraft that was involved in the crash on Saturday is an earlier model of the 737 and has been in service for 26 years. It was previously flown by Continental Airlines and United Airlines before being delivered to Sriwijaya Air in 2012, according to the Airfleets’ online database.

The 737-500 does not have the same crystal system as the 737 Max, which was triggered when another Indonesian flight, Lion Air Flight 610, crashed in 2018, killing all 189 people on board. The same system was blamed when a 737 Max crashed in Ethiopia in March 2019, killing 157 people.

These crashes forced the worldwide landing of the Max fleet and a crisis for Boeing. The company sacked its CEO and said last year that it would cost Max more than $ 18 billion to ground, a major blow even before the coronavirus pandemic hit the industry.

Last week the company agreed to pay $ 2.5 billion, including $ 500 million for a victim fund, to solve a criminal conspiracy charge to defraud the Federal Aviation Administration over the valuation of the 737 Max.

The troubled 737 Max flew again last month. American Airlines Flight 718 made the aircraft’s first commercial flight after the FAA lifted its basic order in November. Before they can fly again, the wiring and software of every 737 Max aircraft must be changed.

The 737-500 was introduced by Southwest Airlines with the purchase of 20 aircraft in 1987. The airline used the 122-capacity model to more efficiently travel longer routes with fewer passengers, Southwest corporate historian Richard West wrote in 2016. That demand fell as long-haul travel increased, and that of Southwest The last 737-500 flew in September 2016.

In the past the 737-500 was a safe aircraft. The series it belongs to, including the 737-300 and 737-400, has had 19 fatal accidents in more than three decades, or about one fatal accident for every four million departures, according to a 2019 Boeing report.

According to the Aviation Safety Network, four previous fatal accidents were recorded in 737-500, including accidents in South Korea in 1993, Tunisia in 2002, and Russia in 2008 and 2013.

Boeing manufactured 389s of the 737-500s before the model was discontinued. Up to 100 are used by smaller airlines around the world in countries like Afghanistan, Iran, Nigeria, Russia, and Ukraine, according to the tracking website Planespotters.net.

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Israel’s large vaccine drive is not maintaining with new circumstances — particularly amongst youthful victims

Israel's massive vaccine drive isn't keeping up with new cases — especially among younger victims

For the first time since the pandemic began, Israel says more than a quarter of the most serious Covid-19 cases requiring hospitalization occur in patients under the age of 60.

The Israeli Ministry of Health blames a new strain first discovered in the UK last month.

Dr. Itamar Grotto, Deputy Director General of the Israeli Ministry of Health, said: “This is because the new British variant is more contagious, especially among young people and children.”

The news that Israel’s hospitals now have a record number of serious Covid cases came within 24 hours of Israel launching a “second dose”. Prime Minister Benjamin Netanyahu was the first to get his second shot yesterday.

Israel has been commended by the global health community for moving to vaccination so quickly. So far, nearly two million Israelis have received their first shot from around 9 million people. Israel has a highly centralized health system in which everyone has to register in a digital system, which makes it easier for the Ministry of Health to organize the vaccination campaign across the country.

Israeli Prime Minister Benjamin Netanyahu will receive the second dose of the vaccine against the coronavirus disease (COVID-19) on January 9, 2021 at the Sheba Medical Center in Ramat Gan near the coastal city of Tel Aviv.

MIRIAM ALSTER | AFP | Getty Images

Despite its success on the vaccine front, Israel is currently in its third nationwide lockdown due to the virus spreading. Without downplaying concerns about the rising percentage of younger people hospitalized with serious infections, epidemiologist Grotto points out that nearly 70% of Israelis over the age of 60 received their first shot, which gives them some immunity.

CNBC employee and former FDA chief Dr. Scott Gottlieb has been keeping an eye on trends in Israel and Europe since the pandemic started a year ago, and used them as a possible model for what could happen in the US, including the relatively newly discovered British variant.

“If we can use the vaccine, we can probably fight it off,” Gottlieb said, referring to the more dangerous, faster-spreading strain.

He believes the recent and alarming surge in cases in the United States is more related to vacation travel and gatherings, “but the bottom line is that we don’t have a good enough surveillance system to know for sure,” said Gottlieb.

The British variant officially only accounts for 0.2% of the US cases. Gottlieb also warned U.S. health officials that they are not yet looking so carefully for the increasingly dangerous burden ravaging an overstretched South African health system.

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Loyal to Trump for Years, Manufacturing Group Now Requires His Removing

Loyal to Trump for Years, Manufacturing Group Now Calls for His Removal

Manufacturers parted ways with Mr. Trump on immigration policy and especially trade, and opposed the tariffs that Mr. Trump had introduced from 2018. That year, however, the gap widened significantly.

In the spring, Mr. Trump appointed Mr. Timmons to an industry group to advise the administration on safely reopening the economy in the pandemic. But in April, Mr Timmons discharged himself on Facebook and in an interview about protesters pushing for a quick reopening when many manufacturers struggled to secure personal protective equipment for their workers.

Mr Trump encouraged the protests and called for government activity restrictions to be lifted, but at the time Mr Timmons declined to criticize him publicly. “I won’t go into that,” he said. “I will use my platform to say what I think is right and what I think is good for my manufacturing workers.”

The club congratulated Mr Biden after the election was called in his favor. Almost two weeks later, it issued a statement calling on federal officials to identify Mr Biden as elected president and initiate the formal transfer of power. On Jan. 4, the group condemned efforts by Trump and Republicans in Congress to question the certification of the Biden victory. Each of these publications was followed by extensive discussions between members of the management team.

The release on Wednesday did not include the same debate. Mr Timmons said the attacks on the Capitol were against the association’s core values. When rioters stormed the Capitol, the association’s employees called for a zoom, compiled the statement and published it that afternoon.

“Vice President Pence, who has been evacuated from the Capitol, should seriously consider working with the Cabinet to take advantage of the 25th Democratic Amendment,” it said. “This is not the vision of America that manufacturers believe in and work so hard to defend.”

Many members of the Executive Committee either did not comment or did not say whether they supported the association’s statement when asked. The committee includes representatives from some of America’s best-known companies, including Pfizer, Johnson & Johnson, Toyota, Dow Inc., Caterpillar, Goodyear Tire, and Emerson Electric. Some of the companies published their own statements about the invasion but did not publicly say whether they supported the trade group’s statement.

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Asia dominates world field workplace, reveals U.S. has a path to restoration

Asia dominates global box office, shows U.S. has a path to recovery

Moviegoers wear face masks in a projection hall of a movie theater almost six months after they closed due to a coronavirus pandemic on July 24, 2020 in Beijing, China.

China News Service | China News Service | Getty Images

In a year marked by a deadly global pandemic, Japan’s box office set a new record.

An animated film based on a popular manga called “Demon Slayer” became the top grossing film in the country’s history, beating the record for Hayao Miyazaki’s “Spirited Away” in 2001. It has ticket sales of more than US $ 322 million Dollars earned.

Japan, an island nation in East Asia of more than 126 million people, has had fewer than 300,000 coronavirus cases and only saw box office revenues drop by 46% in 2020 to $ 1.27 billion.

By comparison, the domestic box office slumped 80% to $ 2.28 billion as U.S. coronavirus cases have topped 21.6 million since the pandemic began. Canada, a box office employee, has seen fewer than 645,000 cases, according to Johns Hopkins University.

Japan is just one of many countries in the Asia-Pacific region that have managed to manage the coronavirus pandemic in such a way that case numbers have remained low and consumer confidence has remained high.

In countries like China, Australia and South Korea, where cases of Covid have dropped significantly, analysts and operators are seeing box offices rebound and thrive.

In fact, its market share in the Asia-Pacific region increased in 2020. While the global box office was significantly lower last year – about 70% of its 2019 value, or about $ 12.4 billion – the Asia-Pacific region accounts for 51% of the Ticket sales. In 2019, these countries accounted for 41%, according to data from Comscore and analysis from Gower Street.

By comparison, in 2019 the US and Canadian box offices accounted for 30% of global ticket sales. In 2020 this market share fell to just 18%.

The Asia-Pacific region has gone to great lengths to fight the coronavirus, including breaking travel, setting up extensive testing and tracing of contacts, hiring masks, and implementing strict social distancing rules. Regardless of the approach taken by each country, its ability to reduce coronavirus cases and reopen their economies shows that if the US is able to do the same, similar results can be achieved.

So far, the response to coronavirus in America has been slow, and cases continue to climb to historic levels, with hospital stays and deaths increasing too.

As of August, when the majority of the world’s theaters reopened, the Asia-Pacific region has nearly 78% of the world’s total box office.

Paul Dergarabedian, senior media analyst at Comscore, said these countries have bounced back after widespread theater closings.

First, these countries have been able to control their outbreaks by banning their outbreaks, introducing contact tracing and enforcing mask mandates. The reduction in the number of cases and strict preventive measures have increased the confidence of potential moviegoers.

Second, these countries had new non-Hollywood films to release. Domestically, the box office stalled because there was no new product for the audience to see. Even when theaters reopened with limited capacity, most of the films were legacy titles such as Star Wars, Jaws, and Goonies.

In the Asia-Pacific region, there was always new content in the studios to get people off their couches. And moviegoers turned out in droves.

In China, two films have generated more than $ 400 million at the local box office: “The Eight Hundred,” a war drama from the 1930s, and “My People, My Homeland,” a comedy film made up of five short stories . Both films were released in the second half of the year.

By comparison, the top grossing film in the US and Canada in 2020 was Sony’s “Bad Boys for Life”. The action film, starring Will Smith and Martin Lawrence, is the third in the Bad Boys franchise and was released in January before the virus spread to the United States. It raised $ 204 million during its theatrical release.

No film released domestically in the second half of the year reached nearly $ 100 million.

Universal’s family animated film “The Croods: A New Age” and Warner Bros.’s superhero sequel “Wonder Woman 1984” both made less than $ 30 million domestically. Another Warner Bros title, Tenet, was released on Labor Day weekend and did not exceed $ 60 million in its theatrical release.

“There is no doubt that going back to a normal big screen market will take a lot of time and patience,” said Dergarabedian. “However, the lessons of the example of countries that have rallied strongly in recent months show that a well-managed Covid response and engaging new films can work together to spark box office prosperity now and in the future kindle. “

Disclosure: Comcast is the parent company of NBCUniversal and CNBC. “The Croods: A New Age” is an NBCUniversal film.

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The Week in Enterprise: The Value of Chaos

The Week in Business: The Price of Chaos

Elon Musk, Tesla’s chief executive officer, is the richest person in the world thanks to a year-long rally in Tesla’s share price that rose 743 percent in 2020. According to the Bloomberg Billionaires Index, Mr. Musk’s net worth came to $ 195 billion at the end of the day – $ 10 billion more than that of Amazon founder Jeff Bezos, who has held the superlative title since 2017. It’s worth noting that if Mr. Bezos hadn’t given away so much money that year (or gave up about 25 percent of his Amazon stock in his divorce), Mr. Musk wouldn’t have taken the top spot. However, Tesla has done exceptionally well, reporting profits and a 36 percent annual increase in sales for the past four quarters.

With his presidency secured, Mr Biden spent last Thursday filling out his economics team. He appointed Isabel Guzman, a former Obama administration official, to head the Small Business Administration. The role includes overseeing several pandemic programs related to helping small businesses, including the paycheck protection program, which has been criticized for poor management. Mr. Biden also appointed Governor Gina Raimondo, a moderate Rhode Island Democrat with a background in the financial industry, as his trade secretary. And for the labor secretary, the president-elect selected Boston Mayor Martin J. Walsh, who is expected to help deliver on Mr Biden’s promise to improve wages and protection for workers, and better security measures against pandemics enforce in the workplace.

The transition of the president

Updated

Jan. 8, 2021, 10:32 p.m. ET

The December employment report showed that the economy was falling for the first time since last April. That’s bad news, but not surprising – coronavirus deaths are breaking dismal records every day, vaccine distribution remains incredibly slow, and many companies have hit their breaking point. The economy still has about 10 million fewer jobs than it did before the pandemic began. This makes Mr. Trump the first president since Herbert Hoover to step down with a smaller economy than at the beginning. And monthly retail sales are expected to decline for the third straight month when they are released this Friday. This is an especially daunting sign as December is usually a big month for shopping.

Under heavy pressure from the Trump administration and after several days of waffling, the New York Stock Exchange agreed to remove three Chinese telecommunications companies from the list. The exchange initially defied Mr. Trump’s order to prevent Americans from investing in companies tied to the Chinese military, stating that it was not explicit enough. The lack of orientation reflects confusion within the government about how difficult it is to take a stance on China. The delisting is also likely to lead to further tension between the United States and China in the Trump administration’s final days. It is unclear whether President-elect Biden will reverse Mr Trump’s order when he takes office.

Hundreds of Google engineers and workers have voted for union formation, the result of years of activism and a rarity in Silicon Valley. Boeing has agreed to pay $ 2.5 billion to the Justice Department to settle the criminal complaint it conspired to defraud the Federal Aviation Administration over its flawed 737 Max jets. And now that luxury conglomerate LVMH Moët Hennessy officially owns Louis Vuitton Tiffany’s, expect some big changes at the top – like the installation of Alexandre Arnault, the 28-year-old son of Bernard Arnault, chairman of LVMH, as Executive Vice President of Product and communication.

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2020 one among hottest years on document, tied with 2016

2020 one of hottest years on record, tied with 2016

The Bond Fire, triggered by a structural fire that spread into nearby vegetation in Silverado, CA on Thursday, December 3, 2020. Dangerous fire conditions prevail in large parts of Southern California as dry, gusty winds are expected in Santa Ana from the northeast.

Kent Nishimura | Los Angeles Times | Getty Images

2020 is linked to 2016 as the hottest year on record, marking the end of the hottest decade on the books as the world grapples with global climate change, according to a study published on Friday.

The outcome of the Copernicus Climate Change Service, an intergovernmental agency that supports European climate policy, continues an unstoppable upward trend in global temperatures as greenhouse gas emissions store heat in the atmosphere.

“2020 will be characterized by exceptional warmth in the Arctic and a record number of tropical storms in the North Atlantic,” said Carlo Buontempo, director of the Copernicus service.

“It is no surprise that the last decade has been the warmest ever, and it is yet another reminder of the urgency of ambitious emissions reductions to prevent adverse climate impacts in the future,” he said.

Signs of record heat in 2020 increased over the course of the year: dry and hot conditions led to massive record fires in Australia and later in the western United States. The Arctic sea ice fell to the second lowest level ever. and monthly temperature records were destroyed worldwide.

Last year was 0.6 degrees Celsius (1.08 degrees Fahrenheit) above the average for the period between 1981 and 2010 and about 1.25 degrees Celsius (2.25 degrees Fahrenheit) above the average for the pre-industrial period between 1850 and 1850 1900, according to the agency.

Some parts of the world heated up more than others as carbon emissions continued to rise. Europe had the hottest year ever, with temperatures 1.4 degrees Celsius (2.53 degrees Fahrenheit) hotter than 2019, which was previously the warmest year.

The Arctic and northern Siberia recorded the largest temperature increases, reaching over 6 degrees Celsius (10.8 degrees Fahrenheit) above the annual average. Western Siberia had exceptionally hot winter and spring, while the Siberian Arctic and much of the Arctic Ocean had exceptionally hot temperatures in summer and autumn.

Large forest fires near the Arctic Circle also released record levels of carbon emissions in 2020, and Arctic sea ice hit record lows in July and October.

“Until global net emissions go down to zero, CO2 will continue to accumulate in the atmosphere and further drive climate change,” said Vincent-Henri Peuch, director of the Copernicus Atmosphere Monitoring Service.

2016, the hottest year of the previous year, was very hot as temperatures were affected by an El Nino, which sent a significant amount of heat from the Pacific into the atmosphere. The past six years have been the warmest six in history.

– Graphics by Nate Rattner of CNBC

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As Trump Reels, Fox Information Has a Message for Viewers: Stick With Us

As Trump Reels, Fox News Has a Message for Viewers: Stick With Us

Tucker Carlson, its president, his cable network at a crossroads, started his show Thursday night and asked a question that has been repeated for weeks among anchors and producers at Fox News: “What will life be like for us on January 21st? ”

“Who’s got your concerns in mind? Who wakes up in the middle of the night worried about your family? “Mr. Carlson asked his flock, admitting that Mr. Trump would be gone in two weeks,” and we can’t help it. “

“The rest of us – and that is the key – will still be here,” he continued. “We have nowhere to go.”

The impending end of the Trump presidency has presented the hugely popular, hugely profitable Fox News – the crown jewel of Rupert Murdoch’s American empire – with a challenge whose right-wing stars have tied more closely to Mr. Trump than any other mainstream pundit over the last four years.

Prime-time hosts such as Mr. Carlson and Sean Hannity spoke grimly about possible election fraud and irregularities. But privately, high-profile figures on the network admitted that it was difficult to pull the needle between the president’s false (and potentially defamatory) fraud claims and the demands of an audience that is growing, given the discrepancies between Mr. Trump’s lies and coverage of Fox Confused was news that Joseph R. Biden Jr. was elected President on November 7th.

Fox News executives are unimpressed by the lamentations of liberal critics, but the migration of conservative viewers to frayier pro-Trump outlets like Newsmax has been more worrying. The prospect of Trump TV, a competing media company run by the president himself, also loomed.

Now, after the violence in the Capitol and Mr. Trump’s increasing isolation within his own party, Fox News is finding a way forward: Sympathize with the complaints of a Trump-loving audience who have finally acknowledged that their bleachers have fallen. Become a secure MAGA room.

“Tens of millions of Americans don’t stand a chance. You are about to be crushed by the ascendant left, ”claimed Mr. Carlson. “These people need a defense attorney. You need a defense attorney. “It wasn’t hard to deduce who he had in mind.

Expecting a U-turn from Fox News – or an apology as some liberals may dream – has not studied its history or that of its owner, Mr Murdoch, whose ability to adapt to political change is only matched by his reluctance to face Kowtow to critics.

With the Democrats coming to power in Washington, Fox News pundits are kicking out the old hits. In his Friday program, which aired shortly after Twitter announced that it had banned the president from his platform, Hannity promised more broadly to “expose the breathtaking hypocrisy of the Democrats and the media mob”. He attacked well-known Fox News bad guys like the Clintons, Obamas, Madonna and comedian Kathy Griffin. It could have been a repeat from 2014. (Mr. Hannity had actually pre-recorded his 9pm show a few hours earlier.)

Taking advantage of the news that Twitter had closed Mr. Trump’s account, Mr. Carlson, who was live on Friday, warned viewers that “America’s civil liberties are imminent” and portrayed liberals as hell-bent on silencing conservative views bring to. But he only uttered the word “Trump” twice over the entire hour.

It took a moment for the Fox News hosts to recalibrate after the week’s shocking and violent events.

Several network stars, notably host Laura Ingraham and political analyst Brit Hume, spread an unsubstantiated theory that left activists – not Trump supporters – were responsible for the violence in the Capitol. (Ms. Ingraham later tweeted a debunking of the theory.) A guest on Mr. Carlson’s Wednesday show made the same unsubstantiated claim about the infiltration of Antifa without the host pushing it back. And news anchor Martha MacCallum initially compared the siege at the heart of American democracy to a minor graffiti incident in the home of a Republican senator.

The transition of the president

Updated

Jan. 8, 2021, 10:32 p.m. ET

There were cracks in the firmament on Thursday amid a spate of resignations at the White House and a growing chorus of Republicans declaring it was time for Mr. Trump to leave. “Raising a Trump flag and removing the American flag is not patriotic – it was one of the worst things I’ve ever seen,” said Brian Kilmeade on Fox & Friends. The false rumors of Antifa involvement were recalled and the hosts criticized the violence in Washington.

Still, no prime-time Fox News star has blamed Mr. Trump for his role in sparking the riot at the Capitol. And instead of counting on years of support from Mr. Trump and giving consolation to his supporters, the network’s commentators have simply turned and found new ways to achieve old goals. In the Fox News universe, Mr. Biden is now a socialist ready to change the American way of life. And many hosts have drawn a direct correspondence between the storming of the Capitol by an anti-democratic mob and the Black Lives Matters protests in support of racial justice that summer.

As repugnant as such rhetoric may be to liberals, it is part of a formula that Fox News, which remains the profit engine of Mr. Murdoch’s Fox Corporation, has seldom failed.

The network’s ratings fell after Election Day and it has fallen heavily in ratings to CNN since the Capitol uprising. But in 2020, Fox News was the third busiest network in the country on weekday prime-time. It wasn’t just cable news; It was all television. Only CBS and NBC ranked higher.

Fox News’ biggest stars, meanwhile, remain in place. Ms. Ingraham announced a new multi-year contract in December, and Mr. Carlson and Mr. Hannity also have long-term contracts, according to someone who knows the ins and outs of the network. With all the hype surrounding Newsmax, ratings have dropped from their highs after the election.

And if Mr Murdoch ever feels the need to distance himself more formally from Mr Trump, he has other platforms on which to do so. In November another Murdoch organ, the New York Post, announced Mr Biden’s victory on a cheery front page. After the Capitol riots this week, Murdoch’s own Wall Street Journal called for Mr. Trump to resign.

Mr. Murdoch and his son Lachlan, who is the chief executive officer of Fox Corporation, had no comment, a representative said.

Trump TV, which could have been a significant challenge for Fox News in 2021, now appears to be less of a threat. Industry experts say the reputational damage Mr Trump has sustained as a result of the riots – and his abandonment by allies and donors – has seriously affected his ability to start a viable competitor of Fox News.

“This was not positive news,” said Christopher Ruddy, a confidante of Mr. Trump and CEO of Newsmax.

Starting a new network requires approval from cable dealers like Charter Communications and Comcast (which Mr. Trump happily referred to as “Concast”), companies that may be under heavy public pressure not to partner with Mr. Trump after his presidency.

Even digital news outlets, like the websites of former Fox News stars Bill O’Reilly and Glenn Beck, need help from mainstream tech companies that may be resisting an association with the Trump brand.

“The outlook is now severely limited,” said Christopher Balfe, a conservative media advisor who developed digital platforms for stars like Beck and Megyn Kelly. “You have a real distribution problem. And now that Facebook and Twitter have taken action, they have opened the door to a more comprehensive de-platform. “

Referring to a traditional television station, Mr Balfe said cable operators “weren’t interested before November 6th and they certainly won’t be interested in taking anything from him after January 6th”.

Still, some television veterans say Mr. Trump’s millions of supporters could keep a media broadcast going regardless of corporate concerns.

“There will always be a company willing to make money hosting their service,” said Jonathan Klein, former president of CNN.

Mr. Klein pointed out that Comcast and other cable retailers run Newsmax and One America News “despite the fictions they committed”. Regrettably, he added that the violent events at the Capitol could even serve as a launch pad for a niche media show aimed at audiences who want to hear more from Mr. Trump.

“He might have seen it as his biggest kickoff event,” said Klein.

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Mega Hundreds of thousands jackpot leaps to $600 million. Right here’s the tax invoice

Mega Millions jackpot leaps to $600 million. Here’s the tax bill

Drew Angerer | Getty Images News | Getty Images

No, you did not hit the Mega Millions jackpot of $ 520 million.

The lottery game’s grand prize rose to a whopping $ 600 million for Tuesday night’s drawing after no ticket matched all six numbers drawn on Friday night. The amount marks the eighth largest jackpot in the history of the lottery. Powerball’s jackpot is an estimated $ 470 million for the Saturday night draw.

Of course, the amounts shown are not what the winners would end up with. Lottery officials must withhold 24% of large winnings for federal taxes. And that’s just the beginning of what you would pay Uncle Sam and usually state coffers.

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For the $ 600 million Mega Millions jackpot, the cash option that most winners choose instead of an annuity is $ 442.4 million. The 24% retention would save approximately $ 106.2 million before the price hits you.

However, you can be rest assured that you owe more to the IRS.

The highest marginal tax rate is 37%. If the winner’s taxable income were not reduced – such as B. large donations for charity – would be another 13% or 57.5 million at the tax time. USD to pay the IRS (this would be April 2022 for jackpots claimed in 2021).

That would be a total of $ 163.7 million that would go to the IRS.

There are also state taxes. Depending on where you live, this hit can be more than 8%.

The cash option for the $ 470 million Powerball jackpot is $ 362.7 million. If there is a winner, the 24% withholding tax would cut $ 87 million off the top. Another 13% would be $ 47.2 million, for the tax officer a total of $ 134.2 million.

Despite handing over a substantial amount to federal and state coffers, the post-tax amount would be life changing. Experts say jackpot winners should assemble a team of seasoned professionals – including a lawyer, tax advisor, and financial advisor – to help manage their sudden fortune.

Most gamers don’t need to worry, however. The chance of hitting the Mega Millions jackpot with a single ticket is tiny: 1 in 302 million. For Powerball, the odds are slightly better: 1 in 292 million.

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Twitter’s Ban on Trump Exhibits The place Energy Now Lies

Twitter's Ban on Trump Shows Where Power Now Lies

It was a perfect match, and Mr. Trump soon began refining the free-running style of the stream of consciousness that would become its signature. For years he used the platform to weigh everything from wind turbines (ugly) to President Barack Obama’s birth certificate (fake) to Jon Stewart’s comedy (overrated). Mr. Trump’s no-filter considerations turned out to be engagement gold for Twitter, which recommended his tweets to millions of new users through its algorithms.

Social media became an even more powerful asset for Mr. Trump when he turned to politics. And after being elected president, thanks in large part to his dominance on Twitter and Facebook, he used his accounts in ways no world leader ever had: to announce key policies, harass foreign governments, raise votes in Congress, seniors hire and fire officials and interact with a colorful crew of racists and cranks.

Over time, we learned that the version of President Trump we saw on our feeds was in many ways more real than the flesh and blood person who occupied the Oval Office. People who wanted to know what Mr. Trump actually thought of a kneeling NFL player or spokeswoman Nancy Pelosi didn’t watch him read a prepared speech or hold a press conference. They looked at @realDonaldTrump, the most honest representation of who he was.

The most predictable outcome of Mr Trump’s dismissal from Twitter – and most likely a similar ban he will receive from Facebook after the day of inauguration – is that it will become a rallying call for conservatives who see themselves as victims of Silicon Valley censorship .

“We live Orwell’s 1984,” raged the President’s son, Donald Trump Jr., on his Twitter account (still working, 6.5 million followers). “In America there is no longer any free speech. It died with great technology. “

No serious thinker believes that Twitter and Facebook, as private companies, are obliged to provide a platform for every user, just as no one doubts that a restaurant owner can start an unruly dinner to create a scene. However, there are legitimate questions about whether a small handful of unelected technical executives who are accountable only to their boards of directors and shareholders (and in the case of Mr. Zuckerberg, none) should wield such enormous power. These measures also raise longer-term questions such as: B. whether the business models of social media companies are fundamentally compatible with a healthy democracy or whether a generation of Twitter-addicted politicians can ever learn the lesson that collecting retweets is a safer way to power than to govern responsibly.

Mr Trump’s ban will have a noticeable impact on the spread of disinformation about the 2020 election, much of which can be attributed to his accounts. It will also likely hasten the fragmentation of the American Internet by partisan standards, a process that was already underway, and reinforce calls for the repeal of Section 230 of the Communications Decency Act, which puts social media companies from legal liability for their Internet protects user contributions.

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This chart exhibits how the restaurant trade’s restoration stumbled in December

This chart shows how the restaurant industry's recovery stumbled in December

The hospitality industry spent most of 2020 recovering from the coronavirus pandemic, but poor sales worsened in the final month of the year.

According to the NPD Group, US restaurant chain transactions declined 10% in December compared to the same period last year. The company tracks transactions in 75 restaurant chains that together account for more than half of the commercial restaurant traffic in the United States. By December, the monthly decline in restaurant transactions had been improving steadily since April. Transactions in November were only down 8%.

However, the industry’s recovery has been hampered by a renewed spike in new Covid-19 cases, which led government officials to reintroduce strict food restrictions, and winter weather that has kept customers from dining outside.

The full-service restaurant segment is hardest hit by the pandemic. The sector, which includes Darden Restaurants’ Olden Garden and The Cheesecake Factory, found it harder to focus on delivery and takeaway as indoor eating was banned. Unlike fast food chains, full-service restaurants are not known for their convenience, and their food is not designed for travel.

At its low point in April, transactions in the full-service segment fell by 70%. In December, transactions were only down 30%. A new wave of indoor food bans has hit personal sales. And take-out and delivery sales aren’t enough to offset the decline in sales that resulted from fewer dine-in customers, according to the UBS Evidence Lab.

On the other hand, the fast food sector has recovered much faster. Until July, weekly transaction declines were in single digits. The segment benefited from previous investments in drive-through lanes, digital ordering and acceleration of service. And its great deals appeal to budget-conscious consumers who grow in numbers during a recession.

The NPD group only pursues restaurant chains. Bank of America consumer data shows that chain restaurants recover much faster than independent restaurants. Independent institutions typically do not have the same access to capital as chains. And while the federal government’s Paycheck Protection Program was created to help small businesses through the crisis, big chains like PF Chang’s and TGI Friday’s have devoured millions of dollars.

The catering industry is pushing for more relief for bars and restaurants. Before the latest stimulus package was drafted, President-elect Joe Biden said he would support grants for restaurant loans. The House of Representatives passed a similar bill in October that gave the industry a $ 120 billion lifeline. After the Democrats took two Senate seats in Georgia this week, it’s more likely than ever that restaurants could see this kind of help.