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Richard Branson’s Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission. The company, headquartered in Long Beach, California, will cut 675 jobs, about 85% of its workforce, according to a Friday filing with the U.S. Securities and Exchange Commission. Earlier this month Virgin Orbit said that it was pausing all operations amid reports of possible job cuts. At the time the company confirmed that it was putting all work on hold, but didn’t say for how long. In January, a mission by Virgin Orbit to launch the first satellites into orbit from Europe failed after a rocket’s upper stage prematurely shut down. It was a setback in the United Kingdom which had hoped that the launch from Cornwall in southwest England would mark the beginning of more commercial opportunities for the U.K. space industry. The company said in February that an investigation … [Read more...] about Virgin Orbit collapse: Mass layoffs at Richard Branson’s satellite launch company after failed mission

Share to Twitter Share to Linkedin A new rule under SECURE 2.0 creates a great opportunity for IRA owners 70 ½ or older with charitable inclinations to get a prospective valuable tax benefit and keep cash flow. The current law allows a charitable distribution from an IRA for individuals age 70 ½ or older (irrespective of the new Required Minimum Distribution of age 73) to make a distribution of up to $100,000 a year directly to a qualified charity. This is called a Qualified Charitable Distribution, or QCD, and they are fantastic opportunities on their own. Now, SECURE 2.0 has introduced a provision that allows a ‘split-interest’ gift, which gives the IRA owner a tax break and provides continuing cash flow. Why a QCD is a great idea. QCDs have a lot of advantages over a conventional charitable deduction. 1. A QCD is eliminated from income, and not treated as an itemized deduction. Thus, a donor can use the standard deduction or other itemized … [Read more...] about SECURE 2.0’s New Rule On IRAs And Charity Can Really Pay Off

Journalism is not a profession given to pleasing the rich and powerful on a regular basis. One certainty of the trade — at least if you are doing it correctly — is that not everyone appreciates seeing the truth about themselves in print for all the world to read (or at least the Baltimore metropolitan area). In its nearly two centuries of following the promise of “Light For All,” The Baltimore Sun’s reporters, photographers, editors and others have received their share of bluster, threats and legal filings thrown at them from influential politicians, public figures, business people and, yes, even the owners of sports franchises inconvenienced by objective reality. You think your job has its annoyances? Try getting in a shouting match with Baltimore Colts’ owner Bob Irsay as he blatantly lied about his plans to move the NFL franchise out of Charm City three decades ago. Was The Sun wrong to challenge his false narrative? To press for answers? To look out for the interests of all … [Read more...] about How can The Sun dare to hold O’s ownership accountable? How can we not? | COMMENTARY