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Monday, April 15, 2024

Cost of Sustaining Lockheed’s F-35 Jet Now Forecast to Exceed $1.5 T

  • Operating, maintenance costs 44% higher than 2018 projection
  • Audit says mission readiness declines as demand for jet soars

 

The world’s costliest weapons program, Lockheed Martin Corp.’s F-35 fighter jet, is getting even more expensive, according to a government watchdog.

Nine years after the Marine Corps declared its first F-35s operational, the Pentagon now projects that the cost of operating and maintaining the jet through 2088 will be $1.58 trillion, 44% higher than originally forecast in 2018, the Government Accountability Office said Monday in a new assessment.

https://www.bloomberg.com/news/articles/2024-04-15/cost-of-sustaining-lockheed-s-f-35-jet-now-forecast-to-exceed-1-5-trillion

Pro-Palestinian Protesters Spark Chaos At O'Hare

Pro-Palestinian protesters are blocking Terminal 1 at Chicago O'Hare International Airport on Monday morning, causing chaos for travelers trying to catch flights. 

Local media outlet ABC7 reports that "all lanes were blocked on I-190 west between Bessie Coleman Drive and the airport." 

Oppenheimer cuts Veru stock target, remains Outperform rated on enobosarm potential

Oppenheimer adjusted its price target for Veru Inc. (NASDAQ:VERU), a biopharmaceutical company, reducing it to $5.00 from the previous $7.00. Despite the lowered price target, the firm maintained an Outperform rating on the stock.

Veru is preparing to initiate the Phase 2b clinical trial of enobosarm, which will assess its effectiveness in preserving lean body mass and promoting fat loss in obese individuals over 60 years old undergoing treatment with GLP-1 receptor agonists for weight management. The company is set to dose the first patient soon, with the anticipation of revealing top-line data in the fourth quarter of this year.

The optimism surrounding enobosarm stems from its clinical history in various settings. "Enobosarm appears to be in the lead among development programs directed toward muscle mass preservation with GLP-1 therapy, and is distinguished by its oral format, mechanism, and human experience," said the analysts.

Veru has indicated that its current financial resources are adequate to fund both the 12-week double-blind phase and the subsequent 16-week open-label extension of the Phase 2b trial

https://in.investing.com/news/oppenheimer-cuts-veru-stock-target-remains-outperform-rated-on-enobosarm-potential-93CH-4124669

IceCure Final Breast Cancer Cryoablation Trial 100% Patient, Physician Satisfaction, 96.3% Recurrence Free

 

  • Data presentation at highly influential American Society of Breast Surgeons ("ASBrS") Annual Meeting by Dr. Richard Fine wins Scientific Impact Award as voted by breast surgeons 
  • President-Elect of the ASBrS, Dr. Michael Berry, presents data and states "cryoablation is ready for prime time" 
  • Company seeks indication for treating women with early stage T1 invasive breast cancer with adjuvant hormone therapy 
  • Available reimbursement code for facility expense expected to enhance usage upon receiving marketing authorization
  • Minimally-invasive ProSense® cryoablation offers highly favorable healthcare economics 

SCOTUS Rejects BLM Activist's Appeal, Allows Louisiana Cop To Sue Over 2016 Protest

 The US Supreme Court on Monday rejected an appeal from a Black Lives Matter activist who's being sued by a Louisiana police officer who was injured during a 2016 protest.

The Court declined to hear an appeal by DeRay Mckesson, leaving a lower court decision in place which revived a lawsuit brought by the Baton Rouge police officer, John Ford Reuters reports. Ford has accused Mckesson of negligence after being struck by a rock during a protest over the fatal police shooting of Alton Sterling.

In 2023, the New Orleans-based 5th US Circuit Court of Appeals rejected Mckesson's defense that his rights to free speech and assembly under the First Amendment protect him against the negligence claim. Mckesson is being represented by the American Civil Liberties Union (ACLU).

The decision could make it easier to sue protest organizers for the illegal conduct of an attendee, according to the report.

Alton Sterling was shot by a Baton Rouge police officer on July 5, 2016 (prior to the George Floyd incident), after a struggle outside a convenience store in which Sterling reached for a loaded handgun in his pants pocket, he was shot dead by officers who were trying to control his arms. Officers recovered a loaded .38 caliber revolver from Sterling's pants pocket.

Four days later, BLM organized a protest demanding accountability - during which Ford, the plaintiff, was struck in the face by a rock or a piece of concrete thrown by an unidentified person. He lost teeth and suffered brain injuries, according to the complaint.

Ford argues that Mckesson, who was arrested the day of the protest but had a charge dropped, should have known that the protest would turn violent.

Ford's case was initially dismissed by US District Judge Brian Jackson (Obama appointee), however it was later revived by the 5th Circuit in 2023 - which found that the First Amendment didn't bar the negligence claim. In doing so, the Court rejected Mckesson's argument that the lawsuit was foreclosed by a 1982 Supreme Court ruling involving black civil rights activists in Mississippi which limited liability for protest leaders.

https://www.zerohedge.com/political/us-supreme-court-rejects-blm-activists-appeal-allows-louisiana-cop-sue-over-2016-protest

Trump Trial In Manhattan Is An Indictment Of The New York Legal System

 by Jonathan Turley,

I have long been critical of the case as a clear example of the weaponization of the criminal justice system. No one seriously believes that Alvin Bragg would have spent this time and money to prosecute what is ordinarily a state misdemeanor if the defendant was anyone other than Trump. One does not have to be like Trump to repel from the spectacle about to unfold in Manhattan.

The famous Roman philosopher and orator Marcus Tullius Cicero once said, “The more laws, the less justice.”

This week, New York judges and lawyers appear eager to prove that the same is true for cases against Donald Trump. 

After an absurd $450 million decision courtesy of Attorney General Letitia James, Manhattan District Attorney Alvin Bragg will bring his equally controversial criminal prosecution over hush money paid to a former porn star Stormy Daniels before the 2016 election.

Lawyers have been scouring the civil and criminal codes for any basis to sue or prosecute Trump before the upcoming 2024 election. This week will highlight the damage done to New York’s legal system because of this unhinged crusade. They’ve charged him with everything short of ripping a label off a mattress.

Just a few weeks ago, another judge imposed a roughly half billion dollar penalty in a case without a single victim who lost a single cent on loans with Trump. (Indeed, bank officials testified they wanted more business with the Trump organization).

Now Bragg is bringing a case that has taken years to develop and millions of dollars in litigation cost for all parties. That is all over a crime from before the 2016 election that is a misdemeanor under state law that had already expired under the statute of limitations.

Like his predecessor, Bragg previously scoffed at the case. However, two prosecutors, Carey R. Dunne and Mark F. Pomerantz, then resigned and started a public pressure campaign to get New Yorkers to demand prosecution.

Pomerantz shocked many of us by publishing a book on the case against Trump —  who was still under investigation and not charged, let alone convicted, of any crime. He did so despite objections from his former colleague that such a book was grossly improper.

Nevertheless, it worked. Bragg brought a Rube Goldberg case that is so convoluted and counterintuitive that even liberal legal analysts criticized it.

Trump paid Daniels to avoid any publicity over their brief alleged affair. As a celebrity, there was ample reason to want to keep the affair quiet, and that does not even include the fact that he is a married man.

It also occurred before the 2016 election and there was clearly a benefit to quash the scandal as a candidate. That political motivation is at the heart of this long-delayed case.

It is a repeat of the case involving former Democratic presidential candidate John Edwards. In 2012, the Justice Department used the same theory to charge the former Democratic presidential candidate after a disclosure that he not only had an affair with filmmaker Rielle Hunter but also hid the fact that he had a child by her. Edwards denied the affair, and money from donors was passed to Hunter to keep the matter quiet.

The Justice Department spent a huge amount on the case to show that the third-party payments were a circumvention of campaign finance laws. However, Edwards was ultimately found not guilty on one count while the jury deadlocked on the other five.

With Trump, the Justice Department declined a repeat of the Edwards debacle and did not bring any federal charge.

But Bragg then used the alleged federal crime to bootstrap a defunct misdemeanor charge into a felony in the current case. He is arguing that Trump intentionally lied when his former lawyer Michael Cohen listed the payments as retainer costs rather than a payment — to avoid reporting it as a campaign contribution to himself.

Thus, if he had simply had Cohen report the payment as “hush money,” there would be no crime.

Once again, the contrast to other controversies is telling.

Before the 2016 election, Hillary Clinton’s campaign denied that it had funded the infamous Steele dossier behind the debunked Russian collusion claims.

The funding was hidden as legal expenses by then-Clinton campaign general counsel Marc Elias. (The FEC later sanctioned by the campaign over its hiding of the funding.). When a reporter tried to report the story, he said Elias “pushed back vigorously, saying ‘You (or your sources) are wrong.’” Times reporter Maggie Haberman declared, “Folks involved in funding this lied about it, and with sanctimony, for a year.”

Likewise, John Podesta, Clinton’s campaign chairman, was called before congressional investigators and denied categorically any contractual agreement with Fusion GPS. Sitting beside him was Elias, who reportedly said nothing to correct the misleading information given to Congress.

Yet, there were no charges stemming from the hiding of the funding, though it was all part of the campaign budget.

Making this assorted business even more repellent will be the appearance of Cohen himself on the stand. Cohen recently was denounced by a judge as a serial perjurer who is continuing to game the system.

Cohen has a long record as a legal thug who has repeatedly lied when it served his interests. He has a knack for selling his curious skill set to powerful figures like Trump and now Bragg.

For those of us who have been critics of Cohen from when he was still working for Trump, it is mystifying that anyone would call him to the stand to attest to anything short of the time of day . . . and even then most of us would check our watches.

Fortunately witnesses are no longer required to put their hand on the bible in swearing to testify truthfully in court. Otherwise, the court would need the New York Fire Department standing by in case the book burst into flames.

So this is the case: A serial perjurer used to convert a dead state misdemeanor into a felony based on an alleged federal election crime that was rejected by the Justice Department.

They could well succeed in a city where nine out of ten potential jurors despise Trump. Trying Trump in Manhattan is about as difficult as the New York Yankees going to bat using beach balls rather than baseballs. It is hard to miss.

However, this is a Pyrrhic victory for the New York legal system. Whatever the outcome, it may prove a greater indictment of the New York court system than the defendant.

https://www.zerohedge.com/political/trump-trial-manhattan-indictment-new-york-legal-system

Celularity Sales Trend Ahead of Views for Q1; Plans SG&A Cuts, Manufacturing Ramp

 Expects the First Quarter of 2024 will be the 4th consecutive quarter of both sequential and quarter-on-quarter net sales growth

Implements plan to reduce 2024 selling, general & administrative expenses (SG&A), executive cash compensation, reinforces management’s alignment of incentives with shareholders on corporate success

https://www.biospace.com/article/releases/celularity-announces-net-sales-trending-ahead-of-expectations-for-first-quarter-2024-implements-planned-2024-sg-and-a-reductions-and-manufacturing-ramp-for-advanced-biomaterial-products/