The reality is that Trump doesn't think natural disasters should be his problem at all. I mean, from the very first week of his new term, Trump has proposed getting rid of FEMA altogether, just eliminating it. Cuz in Trump's view, the federal government shouldn't have to deal with emergencies.That task should be left to the states. And as he sees it, the only role he should really play here is being the point person on whether states get anything from the federal government at all. He loves to have that pow ...

Our national parks have never been more popular. It's just been beautiful and we've loved every minute of it. With a record-breaking 331 million visits across hundreds of sites last year alone.But this year, tourists could be heading into uncharted territory, citing internal data from the Interior Department. A watchdog group says a National Park Service has lost 24% of its permanent staff since January. I think if I were to describe the Smokies in a word or a phrase, um, it would be a roller coaster.Jackie ...

10 June 2025 | 6:42PM BST Europe Business Services: Staffing: May '25: Datapoints continue to improve in Europe The m-o-m volumes were up 1.8% in May'25 vs. April'25. French temp work turnover also improved to c.-1% vs. c-5% in April '25. Dutch turnover data also received today (June 10th) for the 5th 4-week period of 2025 (April 21st to May 18th), improved significantly to c.+5% yoy vs. c.-2% in the 4th 4-week period (March 24th to April 20th). Number of hours worked improved to c.-1% yoy vs. c.-6% in the ...

Core Points - United Airlines is canceling numerous daily flights to and from Newark Liberty International Airport due to the airport's inability to manage the volume of incoming and outgoing planes, primarily caused by a staff shortage in air traffic control [1][2] - The CEO of United Airlines, Scott Kirby, highlighted that recent air traffic control failures have led to significant flight disruptions, including diverted flights and thousands of affected customers [3] - The airline has been advocating for Newark to be reclassified as a "Level 3" airport, which would allow the FAA to regulate the number of scheduled flights based on the airport's capacity [4] Air Traffic Control Issues - A report from the Department of Transportation indicated that the FAA is still facing staffing challenges post-COVID-19, lacking a plan to address these issues, which threatens air traffic operations continuity [5] - The FAA has specific age requirements for air traffic controllers, mandating retirement at age 56, and is currently only accepting applications from individuals under 31 [5] Government Response - The US Transportation Secretary, Sean Duffy, announced plans to hire 2,000 new air traffic controllers this year, including financial incentives for academy graduates assigned to difficult-to-staff facilities [7] - Duffy emphasized the importance of building a new air traffic control system to address long-standing staffing declines and improve retention and hiring [8] United Airlines' Strategy - United Airlines has implemented a three-point plan aimed at reducing delays, focusing on investments in staffing, technology, and facilities, alongside a 4% reduction in its domestic flight schedule announced in July [8]

Core Points - United Airlines has cut 35 daily round-trip flights at Newark Liberty International Airport due to FAA technology failures and staffing issues, resulting in excessive delays [1][2] - The cancellations represent about 10% of United's service at Newark, following a significant walkout of FAA air traffic controllers due to malfunctioning technology [2][6] - CEO Scott Kirby expressed disappointment over the cuts but emphasized the necessity to protect customers amid ongoing FAA staffing issues [3][4] Technology and Staffing Issues - Over 20% of FAA controllers for Newark Airport walked off the job due to technology failures, leading to numerous flight diversions and cancellations [6][4] - The FAA has not provided details on the staffing and technology problems affecting the Philadelphia Terminal Radar Approach Control, which serves Newark [10] - Transportation Secretary Sean Duffy acknowledged the outdated technology causing equipment outages and emphasized the need for a new air traffic control system [11] Impact on Operations - Recent technology failures have caused significant delays, with one United flight delayed by over five hours and another El Al flight delayed by nearly 13 hours [7] - The FAA has implemented a Ground Delay for Newark, with average delays of 127 minutes for incoming flights [7] - The New Jersey Port Authority has urged the FAA to address staffing shortages and accelerate technology upgrades to alleviate delays in the busy air corridor [8][10] Recommendations and Future Actions - Kirby has called for Newark to be designated as a Level 3 slot-controlled airport, indicating its inability to handle high traffic volumes effectively [12] - The Port Authority has invested billions in modernizing Newark Liberty, but improvements are contingent on a fully staffed and modern federal air traffic system [10]

Financial Data and Key Metrics Changes - The company reported a core FFO per share growth of more than 2% for the quarter, with a 200 basis point improvement sequentially compared to the previous quarter [6][15]. - Same store occupancy gap improved from down 80 basis points at the end of December to down 30 basis points by the end of March [6]. - Revenue growth in the same store pool turned positive after two years of deceleration, while revenue growth in the non-same store pool accelerated to nearly 11% [6][14]. Business Line Data and Key Metrics Changes - Move-in volumes increased over 2%, indicating stronger customer conversion and engagement [5]. - Same store revenues turned positive after three consecutive quarters of declines, driven by higher rental rates [14]. - Same store expenses were well controlled, with only 30 basis points of growth, attributed to operational initiatives and moderated advertising spend [14]. Market Data and Key Metrics Changes - The company noted favorable industry dynamics, stating that self-storage is resilient to changing economic conditions due to its needs-based nature [9][10]. - Move-in rents have declined significantly, aligning with levels not seen since February 2013, which positions the company to benefit from rising rents and occupancy in an improving demand environment [11]. Company Strategy and Development Direction - The company is focused on digital transformation, with 85% of customer interactions now digital, and is utilizing AI to optimize staffing [7]. - The acquisition strategy is active, with $184 million in properties acquired or under contract, significantly ahead of the previous year's $35 million [8][12]. - The company is exploring international growth opportunities, exemplified by the proposal to acquire Abacus Storage King in Australia and New Zealand [8][12]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the self-storage industry, noting strong consumer trends and good payment patterns despite macroeconomic uncertainties [21][70]. - The company anticipates a 100 basis point impact on same store revenue growth due to fire-related pricing restrictions in Los Angeles, which will be back half weighted [15][48]. - Management is closely monitoring customer behavior and market conditions, indicating a cautious but optimistic outlook for the remainder of the year [70][71]. Other Important Information - The company expects retained cash flow to increase by 50% to approximately $600 million, which will be reinvested into development and acquisitions [13][108]. - The company is committed to maintaining operational efficiency through payroll optimizations and investments in solar power generation [88]. Q&A Session Summary Question: Level of conservatism in guidance - Management indicated that the guidance reflects a cautious outlook, with move-in rates down approximately 5% year-to-date, but positive trends in occupancy and move-in volumes were noted [20][22]. Question: Private capital raising environment for storage - Management acknowledged increased institutional interest in the sector, despite light transaction volumes in 2024 and early 2025 [25][26]. Question: Revenue indicators and advertising trends - Consistent positive trends in search and advertising indicators were reported, with year-over-year improvements in web visits and sales calls [31]. Question: Move-in rate strategy - Management explained that fluctuations in move-in rates are expected by market and month, with a focus on optimizing revenue [39][40]. Question: Development landscape and cost increases - The company noted a continued deceleration in national development completions, which is seen as healthy for the industry [42]. Question: Rent restrictions in LA - Management confirmed that the fire-related state of emergencies will last until early 2026, impacting revenue growth [47][48]. Question: Peak leasing season expectations - The company does not anticipate a significant uptick in peak leasing activity compared to previous years, given the current market conditions [50]. Question: ECRI program performance - The ECRI program is performing well, with stable price sensitivity and replacement costs observed [92]. Question: Business customer trends - Business customers make up approximately 15% of the portfolio, with no significant changes noted in their behavior [112][115].