It has been almost thirty years since the USS Arleigh Burke (DDG 51) entered U.S. Navy service. Back then, in a Cold War fleet full of nuclear surface combatants and cruisers, the Arleigh Burke class destroyer was a decidedly mid-tier warship, set to replace a handful of aging surface combatants. Today, both the U.S. fleet and the Burkes have changed, and now America’s sixty-eight Arleigh Burke destroyers comprise the high-end backbone of the U.S. surface fleet. American shipyards are set to crank out brand-new, cutting-edge Flight III Burkes well into the next decade.

For a ship class that started out as a low-end, low-cost selection from an array of far higher-end Cold War alternatives, it has been quite a run.

This is a pattern that the Navy likely hopes to repeat with the newly-named Constellation (FFG 62) class guided missile frigate, which, today, is seen as a lower-cost, lower-capability surface combatant to the Burke class. Awarded to Wisconsin’s rough-and-tumble Fincantieri yard in April, the Navy seems pretty clear that the new frigate will, in time, become the mainstay of the future surface fleet. Once the Constellations start hitting the fleet in numbers, the first Arleigh Burkes will be ushered to the exits, followed quickly by a call for an “improved” Flight II Constellation. And, just like the Burkes, the versatile Constellations will iterate from there. 

But the gradual transformation of America’s latest “lowest-cost technically acceptable” platform into the high-end surface combatant-of-the-future is not without risk. For a platform that was procured largely on the basis of future potential, the challenge right now is to preserve the frigate’s long-term flexibility as engineers struggle to stay within the platform’s designated cost-cap.

This is a perilous period for new

U.S. Securities and Exchange Commissioner (SEC) Hester Peirce, well known for her pro-cryptocurrencies views, said increased interest in the space will necessarily force the regulatory body to shift toward a more accommodating stance, according to a recent interview with Cointelegraph.

  • “While we’ve been very slow in giving guidance, there is more and more interest from a wide spectrum of people, both inside the crypto space as well as inside the traditional financial institutions who are asking us for guidance,” Peirce said.
  • “So I think we’re going to be forced to confront that more and more in the coming years.”
  • Peirce also said that pro-crypto moves in the U.S. by the Commodity Futures Trading Commission and the Office of the Comptroller of the Currency as well as actions by regulators in other countries are also slowly prodding the SEC into action.
  • While there are a lot of people at the SEC who want the body to become more innovation-friendly, the regulator’s bureaucracy acts as an impediment to change and discourages risk-taking, Peirce said. The number of people interested in innovation and in crypto at the SEC is “growing,” she said.
  • The commissioner also said Congress needs to be thinking about smart contracts and decentralized finance so it can give the SEC directives on how it wants the regulator to handle them.
  • Peirce said that while she hopes the SEC will revisit its decisions to reject BTC Exchange-Traded Funds, she declined to predict whether the regulator will ever approve them, saying the SEC seems to have made up its own standards just for BTC.
  • Though the commissioner called the prospect of a digital dollar “likely,” that’s not where she says the real action is.
  • “I think a lot of the really interesting innovation is happening outside sort of the central bank digital

Goalies are dominating the early headlines of 2020 NHL Free Agency, including the Dallas Stars signing Anton Khudobin, and the Ottawa Senators giving Matt Murray a stunning contract.

Stars sign Khudobin to three-year contract

Heading into 2020 NHL Free Agency, many expected Anton Khudobin to be priced out of Dallas. Nope, apparently not.

The Stars found a way to sign Khudobin, 34, to a three-year contract. Pierre LeBrun reports that the contract totals $10 million, so the cap hit would be about $3.33M per season.

LeBrun shared the interesting structure of the deal:

No doubt, Khudobin became more prominent in the hockey mainstream during the Stars’ run to the 2020 Stanley Cup Final. For those who zoomed out, they saw a pretty big picture, too.

Khudobin generated a .930 save percentage in 30 games in 2019-20. He’s been fabulous in Dallas the past two seasons in general (.926 save percentage in 71 GP) and has an impressive .919 save percentage for his career.

The Stars maintain one of the best goalie tandems in recent seasons with Khudobin and Ben Bishop.

That said, the main problem with Khudobin is the larger qualm with that tandem. Khudobin is 34, while Bishop turns 34 on Nov. 21. Both of their contracts expire after 2022-23. That said, this gives Jake Oettinger plenty of time to develop, and Bishop – Khudobin have been lights out.

Overall, the Stars’ decision to sign Khudobin makes quite a bit of sense.

According to Cap Friendly, the Stars have about $10.66M in cap space.

[PHT’s 2020 NHL Free Agent Tracker]

Senators bet big on Matt Murray rebound with

Top CEOs have doled out nearly $2.5 million to fill the reelection coffers of President Trump and other Republican candidates, donating nearly five times as much to pro-Trump super PACs and the Republican National Committee as to Democratic opponent Joe Biden.

KAMALA HARRIS CHEERS WALL STREET SUPPORT AS BIG-MONEY DONORS LINE UP FOR BIDEN

The money comes from 15 top executives from the S&P 500. The top donor is Jeffrey Sprecher of Intercontinental Exchange, whose wife, Republican Sen. Kelly Loeffler of Georgia, is battling to keep her seat in Congress. Sprecher spent over $1.2 million, giving to GOP PACS America First Action, Trump Victory and Donald J. Trump for President, according to a data analysis by Market Watch.

Another top donor is Sheldon Adelson, head of Las Vegas Sands and a longtime Republican cash contributor. Adelson shelled out $586,200 in donations supporting Trump.

Other notable CEOs supporting the president include Safra Catz of Oracle, Jayson Adair of Copart, former Wells Fargo CEO Tim Sloan and William Hornbuckle of MGM Resorts International.

Meanwhile, Biden drummed up support from double the number of CEOs but raked in significantly less than Trump.

TRUMP PREPARING $1.8T CORONAVIRUS RELIEF PACKAGE, URGES CONGRESS TO ‘GO BIG’

In all, top execs from Disney, Merck, Nielsen Holdings, Nike, Netflix and more contributed $536,100 to Biden’s campaign committee, the Democratic National Committee, or pro-Biden super PACs.

Many of the companies defended their CEOs’ contributions, describing them as “personal decisions” by company executives, Market Watch reported.

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WASHINGTON, Oct. 5, 2020 /PRNewswire/ — With only weeks to go until the 2020 general election, the Personal Care Products Council (PCPC), representing global cosmetics and personal care products companies, announced today an industry pledge to provide employees meaningful time off to engage in civic activities around the November election. Member companies signing the pledge are coming together for the first time to encourage civic engagement and work to ensure a safe environment for employees to exercise their right to vote.  

“PCPC and the beauty industry have always been ahead of the curve not only creating innovative products but also looking at innovative ways to conduct our businesses. This pledge is just another example,” said PCPC Board Chair Keech Combe Shetty, executive chair of Combe Incorporated. “We don’t wait around to be told we should be good corporate citizens. We do it because it’s the right thing to do.”

“Beauty and personal care businesses thrive when employees are engaged citizens and actively participate in their communities,” said PCPC President and CEO Lezlee Westine. “Our members are among the first to come together as an industry to support employees by providing flexibility and resources to help them be active citizens.”

Specifically, signing companies pledge to:

  • Provide employees work flexibility or time off for the November 2020 general election, including civic engagement activities, such as voting, volunteering, working at the polls or any other appropriate activity; and
  • Encourage employees to exercise their civic responsibility, including registering to vote, strengthening a culture of civic participation.

The “Beauty Counts…Time to Vote” industry pledge is updated as additional companies sign on, and can be found in full here.

“Our employees deserve the necessary support to take time to vote and fulfill their civic duty safely,” said Combe Shetty. “Our country thrives when all