Categories
Health

Richard Sackler Says Household and Purdue Bear No Accountability for Opioid Disaster

Until the third hour of the testimony before the Federal Insolvency Court by Dr. Richard Sackler, a former president and co-chair of the board of directors of Purdue Pharma, the prescription opioid maker founded by members of the Sackler family, asked a lawyer a chain of questions:

“Do you have any responsibility for the opioid crisis in the United States?”

“No,” replied Dr. Sackler, 76, weak.

“Does the Sackler family have any responsibility for the opioid crisis in the United States?”

Again “No”.

And finally:

“Is Purdue Pharma responsible for the opioid crisis in the US?”

More consequently: “No.”

Dr. Sackler, perhaps the most famous of the Sacklers billionaire, who for nearly 20 years was the family member who played the primary role in launching his signature prescription pain reliever, OxyContin, seldom videoconferenced Wednesday before a judge holding the confirmatory hearing for a plan who would reorganize Purdue and resolve all lawsuits against the company and family members over their role in the opioid epidemic.

It is believed to be the first time Dr. Sackler publicly answered questions about the family’s opioid business. Similar to an expanded testimony presented to Kentucky state attorneys in 2015, Dr. Sackler presented his legal department with a testimony that was largely littered with faint or absent memories, brief statements, and distractions.

His voice was often barely audible, he apologized for his laryngitis, and occasionally appeared to be fiddling with the technology that posed annoying volume challenges and opening documents emailed to him when he testified.

While he did not provide any new insights into what is already known about the roles of Sackler’s family members in the company, his looks were remarkable for what he refused to admit.

Dr. Sackler had been called on for questioning by attorneys for states opposed to the plan, in part because they believe the Sacklers will receive extensive legal protection in return for paying $ 4.5 billion.

In a biting back and forth, Dr. Sackler, he doesn’t know how many Americans died from OxyContin. “In your role as chairman or president of an opioid company, you did not find it necessary to determine how many people died as a result of this product?” Asked Brian Edmunds, an assistant attorney general from Maryland.

“To the best of my knowledge, data is not available,” replied Dr. Sackler.

Dr. Sackler – who trained as an internist but embarked on a career as a pharmaceutical manager for the Stamford, Connecticut-based company originally owned in part by his father, Dr. Raymond Sackler – is known for throwing himself into Purdue’s operation. In a testimony on Wednesday, Dr. Sackler that he and a Purdue sales representative drove calls to doctors to increase sales. The sales force eventually focused on doctors, who tended to prescribe higher doses, said Dr. Sackler. He acknowledged that higher-dose opioids could result in higher profits for the company.

During his tenure, Purdue twice confessed to federal criminal charges related to the marketing and sale of OxyContin and settled with Kentucky.

Lawsuits against the Sacklers and Purdue received numerous emails from Dr. Sackler cited, including one from 2001 cited in a Massachusetts lawsuit. “We must take every possible means against the perpetrators,” he wrote. “You are the culprit and the problem. They are ruthless criminals. “

In 2019, the Sackler family contributed $ 75 million to Oklahoma as part of a larger settlement between the state and Purdue. In this case, as in a civil law settlement between the federal government and the Sacklers in 2020, family members did not admit any wrongdoing.

“I cannot enumerate all the settlements,” said Dr. Sackler. “There were many settlements, both private and public.”

The Maryland, Washington State, and Connecticut lawyers apparently attempted to extract such shards to put them back together, arguing that the Sacklers were deeply involved in Purdue’s business.

The settlement agreement negotiated by Purdue and the Sacklers with states, tribes, local governments and other plaintiffs would not only settle the lawsuits, but would also give the company immunity from future civil claims, a condition customarily accorded to companies emerging from bankruptcy restructuring .

But this plan would also give similar protection to the Sacklers who did not file for bankruptcy. The question of such comprehensive legal protection for the Sacklers has driven many of the remaining objections to the plan.

If Judge Robert Drain’s plan is upheld as expected by the U.S. Southern New York Bankruptcy Court at White Plains, the Sacklers will not be pursued by those who contradict the plan, let alone future litigants for Purdue – related issues.

And that ban isn’t just limited to opioid-related cases. Benjamin Higgins, an attorney for the U.S. Trustee Program, a Department of Justice unit that oversees bankruptcy cases, noted that, for example, Purdue had in recent years introduced a long-acting stimulant to treat symptoms of attention deficit / hyperactivity disorder and that if any lawsuits occurred in the In connection with this drug would be considered, the Sacklers would also be vaccinated against it.

Dr. Sackler said he was not very familiar with the details of the extensive litigation clears that are at the core of Purdue’s bankruptcy plan.

“It’s an extremely dense document,” said Dr. Sackler. “I read a page or two and realized that it would take me a lot of time.”

In accordance with the complex structure of the Sackler payments to a national opioid trust, the contributions are partly financed by the prospective sale of the various pharmaceutical companies of the family members worldwide.

“Will you personally be contributing your own assets to the settlement payments in the next nine or ten years?” Sackler was asked.

“I don’t know,” he replied. “I don’t think that’s decided yet.”

Categories
Politics

Richard Trumka, head of AFL-CIO union federation, dies at 72

AFL-CIO President Richard Trumka addresses the Economic Club of Washington in Washington, DC on April 23, 2019.

Mandel Ngan | AFP | Getty Images

AFL-CIO President Richard Trumka, a former coal miner who rose to lead the 12.5-million-member labor organization, died Thursday. He was 72.

Trumka, who became leader of the nation’s most powerful labor organization in 2009, died of an apparent heart attack, according to two sources who had been briefed by AFL-CIO aides.

At the time, Trumka “was doing what he loved, spending time, celebrating his grandson’s birthday,” AFL-CIO Secretary-Treasurer Liz Shuler said in a note to staff.

“We are heartbroken,” wrote Shuler, who under the group’s constitution will perform the duties of president until the AFL-CIO’s Executive Council elects a successor to Trumka.

President Joe Biden, whose 2020 run for the White House was endorsed by the AFL-CIO, called Trumka a close friend after learning of the labor leader’s death.

“The labor movement, the AFL-CIO and the nation lost a legend today,” said Tim Schlittner, communications director of the federation, which is comprised of 56 union affiliates and is major force in Democratic politics.

“Rich Trumka devoted his life to working people, from his early days as president of the United Mine Workers of America to his unparalleled leadership as the voice of America’s labor movement,” Schlittner said.

“He was a relentless champion of workers’ rights, workplace safety, worker-centered trade, democracy and so much more. He was also a devoted father, grandfather, husband, brother, coach, colleague and friend. Rich was loved and beloved.”

Senate Majority Leader Chuck Schumer, D-New York, choked back tears as he spoke on the Senate floor about Trumka.

“I rise today with some sad, horrible news about the passing of a great friend Rich Trumka who left us this morning,” Schumer said, before pausing to compose himself.

“The working people of America have lost a fierce warrior at a time when we needed him most.”

Trumka grew up in the coal-mining town of Nemacolin, Pennsylvania. As a college and law school student, Trumka worked as coal miner, as his father and grandfather had done.

At 33 years old, he ran and won on a reform ticket for the presidency of the United Mine Workers of America, becoming the youngest leader of that union in its history.

In 1995, Trumka was elected secretary-treasurer of the AFL-CIO, which had been formed 40 years earlier by merger of the American Federation of Labor and the Congress of Industrial Organization.

Trumka more recently was a major force in Biden’s selection of Marty Walsh as secretary of the Labor Department.

As Biden was assembling his Cabinet, Trumka’s lobbying for the then-Boston mayor was crucial to cementing Biden’s choice to nominate Walsh over Rep. Andy Levin, the Michigan Democrat who was the preferred candidate of some of the AFL-CIO’s affiliated unions

Trumka was equally influential when Republicans occupied the White House.

In 2019, Trumka convinced several skeptical Democratic House members, including House Speaker Nancy Pelosi, D-Calif., to pass then-President Donald Trump’s revised version of the North American Free Trade Agreement, known as the USMCA.

Labor unions have long criticized NAFTA, claiming it sent tens of thousands of U.S. union manufacturing jobs over the border to Mexico, where wages are lower and labor unions represent industries, and not the workers in them.

Trumka later said that while USMCA was far from perfect, it was a large step toward undoing the harm caused by NAFTA. USMCA passed the House in Dec. 2019, with 41 Democrats voting against it.

While Trumka was influential, his rise in union politics since the 1980s coincided with a marked drop in membership in American unions during that time.

In 1983, about 20% of U.S. workers belonged to a labor union, but by 2019 that had fallen to just above 14%, according to Labor Department statistics.

But in recent years, the labor movement has gained momentum, as employees have pushed for better wages and improved working conditions across industries from fast food to aviation to large retailers such as Amazon. That push has come at the same time as corporate profits have soared.

Trumka noted that shift in momentum during his last major speech on July 27, at the virtual convention of the Texas AFL-CIO.

“My fellow union members, make no mistake about it: The labor movement in Texas is growing more powerful,” Trumka said. ” The anti-worker attacks have not discouraged you! The uphill climb has not stopped you. Since the pandemic hit, you’ve done the hard work. You’ve made your voices louder. And you’ve made your communities and state stronger.”

“So it should come as no surprise that America is turning toward the values of unionism.”

Sara Nelson, a prominent labor leader and president of the Association of Flight Attendants-CWA, which represents some 50,000 cabin crew members at more than a dozen airlines, said she was “shocked and saddened” by Trumka’s death.

“The very best way to honor Rich’s legacy is to fight back stronger than ever for American workers,” Nelson said.

Pennsylvania Lt. Gov. John Fetterman said Trumka’s death was “truly heartbreaking.”

“We lost a larger than life figure who spent a career fighting for, and defending the Union Way of Life,” Fetterman, a Democrat, wrote in a tweet.

“It’s left to the rest of us to pick up the slack and never stop fighting.  #UnionStrong.”

New Jersey Gov. Phil Murphy ordered flags in that state flown at half-staff to mark Trumka’s death.

“America’s and New Jersey’s working families have lost one of their most steadfast and dedicated allies,” Murphy said in a statement. “Organized labor has lost one of its most powerful voices.”

– Additional reporting by CNBC’s Kevin Breuninger

Categories
World News

Richard Branson reaches house on Virgin Galactic flight

After nearly 17 years of development and over a billion dollars invested in Virgin Galactic, Sir Richard Branson achieved his dream and reached space.

From the cabin of the spaceship, Branson spoke of space flight as “the complete experience of a lifetime”.

“This is the moment I dreamed of as a child, and to be honest, nothing can prepare you for a view of Earth from space,” said Branson after landing.

The company’s VSS Unity spacecraft launched over the New Mexico skies on Sunday, with two pilots driving the vehicle with the billionaire founder and three Virgin Galactic employees. VSS Unity – after it was released over 40,000 feet by a carrier aircraft called the VMS Eve – ignited its rocket motor and accelerated to more than three times the speed of sound as it ascended to the edge of space.

Sir Richard Branson stands on the trading floor of the New York Stock Exchange (NYSE) in front of the trading of Virgin Galactic (SPCE) in New York, USA, 28 October 2019.

Richard Branson Virgin Galactic IPO NYSE

VSS Unity then performed a slow backflip in weightlessness as the Virgin Galactic crew were weightless and floating around the cabin of the spaceship. The spacecraft reached an altitude of 86.1 kilometers (53.5 miles or approximately 282,000 feet).

The vehicle then glided back through the atmosphere to land on the runway of Spaceport America where it had previously taken off.

VSS Unity will be released from the carrier aircraft VMS Eve during the launch of its third space flight on May 22, 2021.

Virgo galactic

The pilots Dave Mackay and Michael Masucci flew with Unity. Sitting next to Branson in the spacecraft’s cabin are chief ronaut trainer Beth Moses, chief operations engineer Colin Bennett, and vice president for government affairs Sirisha Bandla. Both Mackay and Masucci have previously flown into space, as have Moses and pilots CJ Sturckow and Mark Stucky.

The US officially regards pilots who have flown more than 50 miles (or approximately 262,000 feet) as astronauts.

VSS Unity is designed for up to six passengers together with the two pilots. The company has approximately 600 reservations for tickets for future flights, which sell for prices between $ 200,000 and $ 250,000 each.

“We’re here to make space more accessible to everyone,” said Branson after the flight. “The mission statement that I wrote in my spacesuit was to make the dream of space travel come true for my grandchildren … and for many people living today, for everyone.”

The space goals

This was Virgin Galactic’s fourth spaceflight to date, the second this year, and the first with more than one passenger.

In addition to flying Branson, spaceflight had other goals as Virgin Galactic is still testing its spacecraft system, with the goal of entering commercial service in early 2022.

The four crew members test the spacecraft’s cabin and the training program Virgin Galactic has developed to ensure customers are properly prepared for the experience. In addition, Bandla will test running a research experiment while doing an exercise with plants in test tubes for the University of Florida.

Sunday’s space flight is one of three Virgin Galactic still needs to complete development, and two more are expected this year.

A competition for others

Shortly after the spaceflight landed, Branson announced that Virgin Galactic had partnered with sweepstakes company Omaze to offer a chance for two seats on “one of the first Virgin Galactic commercial spaceflights” early next year.

“You have a chance to go into space,” said Branson.

The competition requires a donation that goes to a nonprofit organization called Space For Humanity. The billionaire added that he will put on his “Willy Wonka hat” to give the winners a tour of Spaceport America.

“It’s a way of just trying to attract a lot of people who otherwise couldn’t afford to go into space,” said Branson.

Branson’s trip

Virgin Galactic’s Richard Branson, front center, gathers with Virgin Galactic employees in front of the new SpaceShip Two VSS Unity following a new aircraft roll-out ceremony at Mojave Air and Space Port on February 19, 2016 in Mojave, California .

Ricky Carioti | The Washington Post | Getty Images

Branson has dreamed of going into space since watching the Apollo moon landing and founded Virgin Galactic in 2004 to fly private passengers into space. He started the company to buy spaceships built by aerospace designer Burt Rutans Scaled Composites.

Virgin Galactic’s SpaceShipTwo system emerged from Branson’s contract with Scaled Composites. However, the spacecraft’s development had several setbacks, including a rocket engine explosion on the ground in 2007 that killed three Scaled Composite employees, and the 2014 crash of the first SpaceShipTwo, VSS Enterprise, in which the co-pilot of Virgin Galactic, Michael Alsbury, was killed and injured pilot Peter Siebold.

The company then built VSS Unity, which is equipped with additional safety measures to prevent future accidents. Virgin Galactic began testing Unity in 2016 and first reached space in December 2018. In addition, Virgin Galactic rolled the next spacecraft in its fleet earlier this year, VSS Imagine, which is the first of its next-generation SpaceShip III vehicle class.

Last month, Virgin Galactic received a license extension from the US Federal Aviation Administration that allows the company to fly passengers on future space flights. The company completed a 29-element verification and validation program for the FAA and reached the last two regulatory milestones with its most recent space test in May.

Branson wasn’t previously expected to fly on Sunday’s space flight, as Virgin Galactic leadership said the company planned to fly the founder on his penultimate test flight. But after billionaire Jeff Bezos announced that he would be flying on July 20 on his company’s Blue Origin company’s first passenger flight, Virgin Galactic changed its flight schedule – with the aim of flying Branson nine days before Bezos.

Sunday’s flight, which takes off from Bezos or Elon Musk, means Branson will be the first of the multi-billion dollar space company founders to drive his own spaceship.

Virgin Galactic and Blue Origin compete in suborbital space tourism, with both companies’ spaceships taking passengers to the edge of space for a few minutes to soar in weightlessness. An orbital flight, such as with Musks SpaceX, costs tens of millions of dollars and typically spends several days or weeks in space.

Branson’s company believes there is a market that can accommodate up to 2 million people on suborbital space flights with prices between $ 250,000 and $ 500,000, with the market expanding as costs drop.

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Categories
World News

Virgin Galactic to launch Richard Branson on July 11, aiming to beat Jeff Bezos to house

The founder of Virgin, Sir Richard Branson, in Sydney, Australia.

James D. Morgan | Getty Images

Virgin Galactic announced Thursday that the space tourism company will attempt to launch its next test space flight with founder Sir Richard Branson on July 11th.

Branson wants to knock his billionaire Jeff Bezos into space, because he wants to start his own company Blue Origin on July 20th.

“After more than 16 years of research, development and testing, Virgin Galactic is at the forefront of a new commercial space industry that will open space to mankind and change the world forever,” Branson said in a statement. “I am honored to confirm the journey of our future astronauts and make sure we deliver the unique customer experience that people have come to expect from Virgin.”

This will be Virgin Galactic’s fourth test space flight to date and its first mission with a crew of four on board as the company launched its final space flight on May 22 with just two pilots.

Virgin Galactic’s shares rose 20% during after-hours trading, from $ 43.19 on Thursday’s closing.

In addition to Branson, three Virgin Galactic mission specialists will be present: Chief Astronaut Instructor Beth Moses, Senior Operations Engineer Colin Bennett, and VP of Government Affairs Sirisha Bandla. Virgin Galactic pilots Dave Mackay and Michael Masucci will fly the company’s VSS Unity spacecraft.

Virgin Galactic says it will live stream the space flight for the first time, a feed that will be available on Twitter, YouTube and Facebook.

On June 25, the company announced that the Federal Aviation Administration had granted a license to fly passengers on future space flights and Virgin plans to begin flying paying passengers in early 2022.

Branson founded Virgin Galactic in 2004 to build a space tourism company. The company’s spacecraft takes off from a carrier aircraft before accelerating to more than three times the speed of sound.

The Virgin Galactic spacecraft then spends a few minutes in weightlessness over 50 miles (80 kilometers) – the limit the US officially recognizes as space – before slowly turning around and sliding back to Earth to land on a runway.

Virgin Galactic only competes with Bezos’ Blue Origin in suborbital space tourism, as Elon Musk’s SpaceX puts passengers into orbit on longer journeys, such as to the International Space Station.

In June, Bezos announced that it would be flying Blue Origin’s first passenger flight on the New Shepard rocket. Bezos is slated to hit the market on July 20 and will fly with his brother Mark, winner of a $ 28 million public auction, and legendary aerospace pioneer Wally Funk.

This is the latest news. Please check again for updates.

Categories
Health

Richard R. Ernst, Nobelist Who Paved Method for M.R.I., Dies at 87

Richard R. Ernst, a Swiss chemist who received the 1991 Nobel Prize for his work on refining nuclear magnetic resonance or NMR spectroscopy, the powerful chemical analysis method of MRT technology, died on June 4th in Winterthur in northern Switzerland. He was 87.

The Swiss Federal Institute of Technology Zurich (ETH Zurich), at which Dr. Ernst, who had spent most of his career, announced the death on their website. No reason was given.

Dr. Ernst – whose work and interests included chemistry, physics, math, music, and the arts – helped develop NMR from a time-consuming niche technique to a critical scientific tool routinely used in local hospitals and chemistry laboratories.

As a chemist, he was outstanding.

“Comparing him to Einstein would offend physicists,” says Jeffrey A. Reimer, an NMR expert at the University of California at Berkeley. “But as far as its effect in the discipline is concerned, seriousness is fundamental.”

Dr. Serious was driven and demanding – especially of himself – and even as his stature grew, colleagues and former students said he had remarkably little ego. He was quick to pay tribute to his co-workers and to describe his own contributions in humble terms.

“I’m not really what you would imagine as a scientist who wants to understand the world,” he said in a 2001 Nobel interview. He continued, “I’m a toolmaker, not a real scientist in that sense, and I wanted to offer these problem-solving skills to other people.”

NMR spectroscopy was first developed in the 1940s and early 50s by Felix Bloch and Edward Mills Purcell, who received the Nobel Prize in Physics in 1952 for this achievement. With this technique, scientists place a substance in a magnetic field that aligns the nuclei of its atoms. Then they bombard it with radio pulses that throw the nuclei out of alignment. When the nuclei realign themselves, the atoms emit unique electromagnetic signals that can be analyzed to determine the chemical composition and molecular structure of the material.

When Dr. Ernst, when he started studying NMR in the late 1950s, as a PhD student, researchers had to slowly scan a substance in a magnet and use continuous radio waves. She suffered, wrote Dr. Ernst in an autobiographical sketch on the Nobel website, “with a disappointingly low sensitivity that severely limits its application possibilities”.

Instead of slowly scanning a substance, Dr. Serious them with a short but intense pulse of radio waves. Then, with the help of a computer, he used a complex mathematical operation to analyze the signal. This method, known as Fourier transform NMR or FT-NMR, was much more sensitive and allowed scientists to study more types of atoms and molecules, especially those that were low in abundance.

“That was a very great invention that was ahead of its time,” says Matthias Ernst, physical chemist at ETH Zurich, who was a former student of Dr. Serious was (and is not related). That was the 1960s and the era of personal computing had not yet begun; Instead, Dr. Ernst and his colleagues transfer their data from the perforated tape to punch cards and then take them to a data center for processing.

In the 1970s, Dr. Seriously the two-dimensional NMR. This technique involves bombarding samples with sequences of radio pulses over time. The resulting signals provide more information about the sample and enable scientists to determine the exact composition and structure of large and complex biological molecules.

“It was beautiful,” said Dr. Reimer, an undergraduate chemistry student, as Dr. Ernst published his results. “Richard really did everything.”

Two-dimensional NMR is the foundation of MRI, a medical advance that enabled doctors to create detailed images of the body’s internal structures. “He made NMR the powerful technique it is in chemistry, biochemistry and biology today,” said Robert Tycko, physical chemist at the National Institutes of Health and president of the International Society of Magnetic Resonance, in a telephone interview.

Dr. Ernst was on a transatlantic flight when his Nobel Prize in Chemistry was announced in October 1991; he learned of the honor from the pilot. But in accordance with his characteristic modesty, he was unsettled when he was the only winner.

“He was very happy about the recognition,” says Beat H. Meier, physical chemist at ETH. “

Richard Robert Ernst was born on August 14, 1933 in Winterthur as the son of the architects Robert Ernst and Irma Ernst-Brunner. As a child he developed a passion for music and chemistry. When he was 13 years old, he found a box of chemicals in the attic of his house and learned that it belonged to an uncle.

“I was almost immediately fascinated by the possibilities of trying out all conceivable reactions with them, some of which led to explosions, others to unbearable air pollution in our house, which terrified my parents,” he wrote in his Nobel sketch. He started devouring chemistry books and gave up plans to become a composer.

He did his bachelor’s degree in chemistry at ETH Zurich in 1956 and then briefly served in the Swiss military before returning to ETH in 1962 for his doctorate in physical chemistry.

The next year he married Magdalena Kielholz. The bereaved are his wife and their three children Anna, Katharina and Hans-Martin. Matthias Ernst, his former student, said Dr. Ernst died in an old people’s home.

In 1963, Dr. Ernst joined the technology company Varian Associates in Palo Alto, California as a scientist. There he developed FT-NMR

He returned to ETH 1968 and taught and researched there until his retirement in 1998. In addition to the Nobel Prize, he received the Wolf Prize for Chemistry, the Horwitz Prize, the Marcel Benoist Prize and 17 honorary doctorates.

Dr. Ernst was an avowed “workaholic”, as he put it.

“He had dinner with his wife and then went back to his desk and worked late into the night,” says Alexander Wokaun, retired chemist and emeritus professor at the ETH. Ernst received his doctorate. Students. “But in this total devotion to science, I think he showed us what can be achieved.”

Dr. Ernst gave his students freedom and was interested in the work of young scientists who had not yet made a name for themselves. “At meetings of scientists or scientific conferences,” said Dr. Tycko, “he sat in the front row and took careful notes and listened to other people describe their work, which is actually very unusual for someone of his stature.”

Dr. Ernst maintained his love of music and also developed a passion for Tibetan scroll paintings, which he put together with his wife and adorned almost every wall of their home with them, said Dr. Wokaun. He used advanced laboratory techniques to examine the paintings’ pigments to find out where and when they were made.

After receiving his Nobel Prize, he traveled and lectured on the responsibility he believed scientists have to contribute to society.

“He always said to me, ‘It’s not enough for a scientist to accumulate knowledge just for the sake of knowledge,'” said Dr. Wokaun. “‘What for, for what purpose are you doing this?'”

Categories
Business

Richard H. Driehaus, Champion of Traditional Structure, Dies at 78

Richard H. Driehaus, an avid investor who built his elementary school coin collection into a fortune that he used to preserve history and classical architecture, died March 9 in a Chicago hospital. He was 78 years old.

The cause was a brain hemorrhage, said a spokeswoman for Driehaus Capital Management, where he oversaw assets of around $ 13 billion as chief investment officer and chairman.

Mr. Driehaus (pronounced DREE house) restored landmarks in the Chicago area and donated a palace museum to the city celebrating the Gilded Age. As a counterbalance to the $ 100,000 Pritzker Prize, which was funded by another Chicago family and viewed by them as an affirmation of modern motifs, a “homogenized” rejection of the past.

He dived into the stock market from the age of 13, bet nosebleeds on risky stocks, and was named one of the 25 most influential mutual fund figures of the 20th century by Barron’s in 2000.

While he won a Lifetime Achievement Award from the American Institute of Architects in 2015 for sponsoring competitions that led to better designs, he never officially trained in the field. But he knew what he liked and what he didn’t.

“I believe architecture should be of a human dimension, form of representation and individual expression that reflects the architectural heritage of a community,” he told architect and urban planner Michael Lykoudis in an interview in 2012 for the Institute for Classical Architecture and Art.

“The problem is, there is no poetry in modern architecture,” he said in a 2007 interview with Chicago magazine. “There is money – but no feeling, no mind and no soul.” Classicism has a mysterious power. It’s part of our past and how we evolved as people and as a civilization. “

When asked whether he thought buildings designed by Ludwig Mies van der Rohe, for example, appropriate, he told Architectural Record in 2015: “They are mechanical, industrial and not very human. It’s like my iPhone, which is beautiful, but I don’t want the building I live in to look like this. “He added,” Architects build for themselves and for the public. They don’t care what the public thinks. “

The first Richard H. Driehaus Prize, awarded by the Notre Dame University School of Architecture, was awarded in 2003 to Léon Krier, a designer from Poundbury, the British model city built on the architectural principles of the Prince of Wales. The first American award winner in 2006 was Allan Greenberg, born in South Africa, who redesigned the contract room suite in the State Department.

In 2012, Driehaus’s opposition to Frank Gehry’s original design for the Dwight D. Eisenhower Memorial in Washington was attributed by many critics to improving the final design.

In a statement following the death of Mr. Driehaus, A. Gabriel Esteban, the president of DePaul University in Chicago, the alma mater of Mr. Driehaus (and recipient of his philanthropic generosity), wrote the success of Mr. Driehaus to a “curious mind, relentless determination” to learn and insatiable desire. “

Mr Esteban said Mr Driehaus’s approach was the result of part of his “training in neighborhood parish schools”. Mr. Driehaus himself credited the nuns who taught him at the St. Margaret of Scotland Catholic School in southwest Chicago. “In addition to reading, writing, and arithmetic,” he told Chicago magazine, “they taught me three things: you have to keep learning all your life, you have to be responsible for your own actions, and you have to give something back.” for the society.”

Richard Herman Driehaus was born in Chicago on July 27, 1942, the son of Herman Driehaus, a mechanical engineer for a company that manufactured coal mining equipment, and Margaret (Rea) Driehaus. He grew up in a bungalow in the Brainerd neighborhood.

With his father rooted in a dying industry, his hopes of bringing his family to a better home were never realized. (His mother returned to work as a secretary when her husband developed Alzheimer’s disease in his fifties.) “I knew I would never work as hard as my father and couldn’t afford a house he wanted for us,” Driehaus told Philanthropy Magazine in 2012, “What my father couldn’t do, I wanted to do.”

As a coin collector in third grade, he raised money for the family. He subscribed to a coin-operated magazine, he later recalled, and “looked in the back of the publication to see what they actually wanted to buy for their own accounts rather than what they wanted to unload in public.”

When he was intrigued by a page in The Chicago American at the age of 13, “with company names, numerous columns and numbers showing many minor changes in the fine print,” he decided that “this was the industry for me” and invested the money, with which he earned delivery from The Southtown Economist in stocks recommended by financial columnists. The stocks fueled and taught him to research the growth potential of any company on his own.

He graduated from the University of Illinois at Chicago, enrolled at Southeast Junior College, and then moved to DePaul, where he earned a bachelor’s degree in 1965 and a master’s degree in business administration in 1970. He worked for investment bank AG Becker & Company, becoming its youngest portfolio manager and for several other companies before founding his own company, Driehaus Securities, in 1979. In 1982 he founded Driehaus Capital Management.

He married when he was in his early 50s; The marriage ended in divorce. He is survived by three daughters, Tereza, Caroline and Katherine Driehaus, and two sisters, Dorothy Driehaus Mellin and Elizabeth Mellin.

“I didn’t do anything until I was 50,” Driehaus told the New York Times in 2008. “I spent my first few years making money for my clients. I’m ready to have fun now. “

He hosted his own extravagant themed birthday parties for hundreds of guests in his villa on Lake Geneva (he made his grand entrance on an elephant at a gala) and indulged in his passion for collecting.

He started with furniture that he made available to a bar called Gilhooley’s, then switched to decorative arts and art nouveau for the iconic Samuel M. Nickerson mansion, a palazzo that he restored as the Richard H. Driehaus Museum. He also collected a fleet of vintage cars.

He gave hundreds of millions of dollars as best he could to DePaul and Chicago theater and dance groups, Catholic schools, and other organizations often overlooked by great philanthropy. And he felt quite comfortable being a very big fish in a smaller pond – but a more hospitable one.

“In New York, I’m just another successful guy,” he told the City Club of Chicago in 2016. “You can’t do anything in New York. But you can do that in Chicago because it’s big enough and small enough and people actually get along enough. “

Categories
Politics

Richard Burr’s Vote to Convict Renews Speak of a Lara Trump Run in North Carolina

Senator Richard M. Burr’s decision to vote for the condemnation of former President Donald J. Trump on Saturday fueled speculation that Lara Trump, the daughter-in-law of Mr. Trump, will seek the seat of the North Carolina Senate Mr Burr will vacate in 2022.

South Carolina Senator Lindsey Graham, a former Trump critic turned strong defender, predicted Sunday that Mr. Burr’s somewhat surprising dissent would spark a right-wing riot that would lead to the election of more pro-Trump candidates.

“My friend Richard Burr made Lara Trump almost a sure-fire candidate for the Senate seat in North Carolina to replace if she runs,” he said in an interview with Fox News.

Ms. Trump, 38, a former personal trainer and television producer who grew up on the coast in Wilmington, has been hovering as a potential Burr successor for months.

She did not immediately respond to a request for comment. A senior Republican official, aware of her plans, said the January 6 riot pissed her off at running, but Ms. Trump would decide over the next few months whether to run as part of a coordinated Trump family comeback.

Another Republican, former Representative Mark Walker, an ally of Trump, has already announced his candidacy, and Pat McCrory, a former Republican governor, is also a possible candidate. Mark Meadows, the former North Carolina representative and former Trump chief of staff, is also said to be there.

“We’re going to take a closer look at each candidate in comparison to some sort of coronation,” said Mark Brody, a member of the Republican National Committee from Union County outside Charlotte.

Doug Heye, a former RNC spokesman who previously worked for Mr. Burr, asked if Ms. Trump was ready to endure the hassle and boredom of running or serving. “A lot of people love speculation and attention, but being a senator is a lot of hard work,” he said.

Then there is the question of residence. Ms. Trump currently lives in the northern suburbs of New York City with her husband Eric and their children and would have to move back.

If she runs, the Trump family could be a liability on a battlefield that the former president only gained 1.3 percentage points in 2020 – or it could bring no benefit at all in 2022, depending on the political environment.

“There’s a myth that Trump voters will come out for Trump candidates or family members,” said John Anzalone, a Democratic pollster who has campaigned in the South. “Cult members only appear in full power for the cult leader.”

And Ms. Trump’s candidacy could help increase Democratic turnout, especially among the state’s large black population, and counter the typical decline in most mid-term elections.

But Ms. Trump’s boosters, led by Mr. Graham, hope that she can use the backlash in the party’s grassroots base to catapult her to the top of the field.

After Mr Burr’s vote, the North Carolina Republican Party reprimanded Mr Burr, calling his vote “shocking and disappointing”.

Representative Patrick T. McHenry, a Republican minority leader in the House, downplayed the importance of Mr Burr’s vote.

But he said Ms. Trump would be “the favorite” when she runs, adding, “Nobody comes closer.”

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Fauci method to two-dose vaccine is true, says Richard Besser

Richard Besser, who served as deputy director of the Centers for Disease Control and Prevention under former President Barack Obama, said the U.S. should continue to focus on giving patients both doses of the Covid-19 vaccine despite the slow rollout .

On CNBC’s “The News with Shepard Smith,” Besser agreed with the comments made by Dr. Anthony Fauci, director of the National Institute for Allergies and Infectious Diseases, had handed in on Monday. During a Covid-19 briefing at the White House, Fauci said staying on course for two doses offers us the clearest avenue for protecting people from the virus and its growing number of variants.

“I would go with Dr. Fauci on that case,” Besser said. “I have concerns that if we take a single dose, we may offer humans a sub-optimal level of protection.”

Both the Pfizer and Moderna vaccines have been approved by the Food and Drug Administration based on the protection they provide after two doses at different times. Due to the slower-than-expected introduction of the vaccine and the spread of Covid-19 variants across the country, some scientists have recommended distributing single vaccines to more people rather than double-dose fewer patients.

Besser, who now serves as President and CEO of the Robert Wood Johnson Foundation, also said it was too early for states to open bars and restaurants to larger groups of people. He said while evidence shows we can safely open schools, indoor social gatherings could lead to larger outbreaks “if we drop our guard”.

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Richard Branson on journey restoration, rollout efforts

Sir Richard Branson told CNBC Tuesday that he hopes that potential passengers who have been vaccinated will have what are known as Covid vaccination cards available so they may bypass other virus mitigation measures before traveling.

“Vaccination is everything. Once the vulnerable in particular are vaccinated, I think all kinds of businesses can reopen: restaurants, travel companies, cruise lines,” said Branson, co-founder of Virgin Atlantic and Virgin Australia.

“Hopefully there will be a vaccination certificate that will allow people to get on a plane without being tested or quarantined,” added the British businessman in an interview with Squawk on the Street. ”

Branson’s comments come a week after the U.S. Centers for Disease Control and Prevention announced that passengers would be required to prove they recently tested negative for the coronavirus before flying into the country.

And on Monday, President-elect Joe Biden spokeswoman Jen Psaki said in a tweet that the new administration would maintain an entry ban for most visitors from Europe, the UK and Brazil. This announcement came shortly after President Donald Trump announced that he would lift travel restrictions.

Covid vaccination passports are a way for people to prove they have been vaccinated against the disease, and some believe they can help economic recovery from the pandemic. A group called the Vaccination Credential Initiative, supported by Microsoft and Oracle, was recently launched. The coalition is working to develop a way that people can get an encrypted digital version of vaccination logs that can then be stored in a digital wallet of their choice such as the Apple Wallet or Google Pay.

“As the world begins to recover from the pandemic, electronic access to vaccinations, tests, and other medical records will be critical to resumption of travel and more,” said Mike Sicilia, executive vice president of Oracle’s global business units , in a press release about the initiative.

Airlines and the travel industry have been hard hit by the coronavirus pandemic. Industry executives have pointed out time and again that widespread Covid vaccinations are key to robust recovery.

While air travel isn’t at the bottom of the pandemic, Branson expects it will spike in the coming months as vaccinations continue to roll out. He praised efforts across the UK to get vaccinations, as well as Biden’s promise to vaccinate 100 million Americans in 100 days.

“I would hope that in three or four months, once most of the vulnerable are vaccinated, we can look forward to late spring or summer to get back to normal,” said Branson.

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Richard Branson’s Virgin Orbit blasts satellites into house from 747

Richard Branson’s Virgin Orbit with a missile under the wing of a modified Boeing 747 aircraft launches July 10, 2019 in Mojave, California, in a major drop test of its high altitude satellite launch system.

Mike Blake | Reuters

Virgin Orbit, the rocket company founded by billionaire Richard Branson, successfully launched its first satellites with its novel air launch system.

The California-based company said 10 mini-satellites had been launched into space by the same rocket launched from the wing of an old Boeing 747 jumbo jet as it flew over the Pacific.

The jet, nicknamed Cosmic Girl, took off from Mojave Air and Space Port at around 10:50 a.m. PST on Sunday. Almost 60 minutes later, the LauncherOne missile dropped it approximately 50 miles south of the Channel Islands in California at an altitude of 35,000 feet.

When released, the rocket engine ignited and launched LauncherOne into space. About two hours later, 10 shoe box-sized satellites developed by universities and selected by NASA were deployed at an altitude of 500 km. The satellites are used for space exploration purposes.

“A new gateway to space has just been opened,” said Dan Hart, CEO of Virgin Orbit, in a statement. “That LauncherOne successfully entered orbit today is testament to the talent, precision, drive and ingenuity of this team.”

The successful launch came after Virgin Orbit attempted to launch a rocket in May last year. The company diagnosed the failure of a high pressure fuel line in the engine, which shut down the rocket shortly after launch.

“Virgin Orbit achieved what many thought was impossible. It was so inspiring to see our specially customized Virgin Atlantic 747, Cosmic Girl, launch the LauncherOne rocket into orbit,” Branson said in a statement.

“This great flight is the culmination of many years of hard work and will also unleash a whole new generation of innovators on their way into orbit.”

Thanks to Virgin Orbit’s launch technology, the company can theoretically launch rockets from almost anywhere on earth at short notice. There are plans to launch missile-bearing 747s from Cornwall, England, for example.

Branson hopes to take advantage of the growing demand for small, relatively cheap satellites. He’s not the only billionaire involved in the space race. Amazon’s Jeff Bezos and Tesla’s Elon Musk are also building spaceships to capitalize on the fast-growing industry.

Virgin Orbit describes itself as a “dedicated launch service for commercial and government-built small satellites”.

The company is planning the official transition to commercial service for its next mission, adding that it has already booked later launches from clients such as the US Space Force and the UK Royal Air Force, as well as companies like Swarm Technologies, Italy’s SITAEL. and Denmark’s GomSpace.

Virgin Orbit is a spin-off from Branson’s space tourism company Virgin Galactic. Virgin Orbit is a completely separate company and is privately owned by Branson’s multinational conglomerate Virgin Group.

The speculation about how much Virgin Orbit has invested so far has varied widely. Estimates range from $ 400 million to $ 500 million and even over $ 700 million.

In an interview with CNBC in October, Hart declined to comment on how much Virgin Orbit has spent to date, but said it was “discussions” about further investments, with the company about $ 150 million in new Strive for capital.

Investors include Branson’s Virgin Group and Mubadala Investment Company – the United Arab Emirates’ sovereign wealth fund, which also has a significant stake in Virgin Galactic.