Space.com: NASA Chief's Journey from Segregated South to Space
In 2009, Charles Bolden became NASA's first black administrator. The former astronaut, a veteran of four space shuttle flights, is helming the space agency as it transitions through hard economic times and the looming retirement of the space shuttle program.
In honor of Black History Month, Bolden, a retired Marine Corps Major General, wrote of his journey from his home town of Columbia, S.C., to space and back. The following essay was published on the White House blog.
It's a long way from the segregated south to low Earth orbit. But I am fortunate to have made the journey and to have had many opportunities to serve my nation in a 34-year career with the U.S. Marine Corps and in many roles at NASA, currently as head of the nation's space program.
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When I was a young man, my service as NASA's first African American administrator under the nation's first black president would have been nearly unthinkable. But through the efforts of many people of all races, our nation has changed. And, thanks to the space shuttle program, and NASA's cross-disciplinary exploration missions, African Americans and many others have had access to space and also to science and technological careers. The shuttle was really instrumental in breaking the color barrier for African Americans in space, and it all happened without a single law being passed.
Today, African Americans are scientists, engineers and astronauts. They're developing instruments for spacecraft to peer beyond the edge of our solar system and opening solar arrays on the International Space Station with just a tether holding them to a vehicle moving nearly 17,000 miles per hour. NASA is reinvigorating its focus on research and development to develop technologies that don't exist today. We will send humans farther and faster into space. We'll visit places we've never been with people and robots, launch science missions to uncover unfathomable secrets of the universe and make air travel safer and cleaner here on the home front. African Americans have been, and will continue to be, key to all of these efforts.
I might never have had a chance in space were it not for the late great Ron McNair, another African American pioneer in exploration who encouraged me to apply to the astronaut corps. I was being a naysayer, thinking there was no way I would be accepted. But Ron persisted, and I am grateful to him to this day and for all of the life and professional learning he shared with me in his too-short time before he was lost in the Space Shuttle Challenger tragedy. Ron was my "Sputnik moment."
Since America's "Sputnik moment," when the nation stood up and took notice, and made a decision to commit to exploration and the technology development and innovation that would be required, many African Americans have given their heart and soul to the space program. The list is long at NASA. Astronauts like Guion S. Bluford, Dr. Mae Jemison, Frederick D. Gregory, and Dr. Ronald McNair and Michael P. Anderson, to name just a few, pioneered a path in space. Similarly, scientists like astrochemist Dr. Emmett Chappelle, who was inducted into the National Inventors Hall of Fame, and Dr. George Carruthers, who helped our Apollo missions be more than just flags and footprints, and Dr. Harriett Jenkins, who helped diversify the agency as head of its Equal Employment Programs, made vital contributions to the space program. Without the historic contributions of these and many others, NASA would not be the agency it is today.
For my part, my parents were probably the biggest influences on my life. Not only growing up, but still, today, as I make decisions as a husband, grandfather, father, brother and leader. My father was a teacher, my mother a librarian. Learning was always at the forefront of our lives as well as a commitment to public service. That led me to the military and a chance to serve my country as my father and my uncles had done in World War II when blacks had to fight for the right to serve in our armed forces. I wanted to follow in the footsteps of so many African Americans who had already served this country with distinction, if not always with recognition.
For me, it was an uphill battle. Because of my race, no one in my South Carolina congressional delegation would provide an appointment nor nomination to the Academy as was required for admission. I wrote President Lyndon B. Johnson asking for help, and that's when Congressman William Dawson of Illinois provided me the appointment I needed to be accepted. Rep. Dawson was himself a veteran of World War I, and only the third African American elected to Congress in the 20th century. He was the only serving black member during his first term.
Since then, I graduated from the U.S. Naval Academy, flew more than 100 combat missions over Vietnam, earned a master's degree in systems management, flew on the space shuttle four times, and rose to the rank of major general in the U.S. Marine Corps.
It has been quite a ride, but I couldn’t have done it without all those who came before. That's why I tell today's young people that I hope they will take the gains that previous generations have made and make their own progress. Students ask me how to become an astronaut. I tell them to pursue any of the paths in science, technology, engineering and mathematics and their chances of a strong, secure career that makes contributions to our economy and improves life for people worldwide will be possible.
When I speak to young people, I tell them, don't waste your time trying to explain yourself or your identity to anyone or justify why you are where you are -- in the workplace or anywhere else. Do your job and do it very well. Live your life according to the golden rule and the strong principles taught by Dr. Martin Luther King Jr. Always remind yourself of "why" you are pursuing the things you do. Stay in touch with that answer, and don't let others define it for you.
A touchstone of my personal philosophy is these words from Rev. Dr. Benjamin E. Mays, Dr. King's mentor during his years of study at Morehouse College. It is Dr. Mays who perhaps influenced Dr. King most, and whose words and thoughts we frequently heard reflected in the words of Dr. King. This is from a sermon by Dr. Mays titled "What Man Lives By":
"Man must believe that however hard the road, however difficult today, tomorrow things will be better. Tomorrow may not be better, but we must believe that it will be. Wars may never cease, but we must continue to strive to eliminate them. We may not abolish poverty, but we must believe that we can provide bread enough to spare for every living creature and that we can find the means to distribute it. We may not exterminate racism, but we must believe that different racial groups can live together in peace, and we must never cease to try to build a society in which the fatherhood of God and the brotherhood of man become realities."
I never really left Columbia, S.C., behind. The family and teachers and friends that are still there remind me of who I am, where I come from, and what my ideals should be. It was a fortunate upbringing in many ways, despite the hardships. I wouldn't change a thing. And despite what some might say, the future is bright for the young people just entering the workforce today. I hope I have had some small part in the progress this nation has made. I look forward to the space program's continued success improving people's lives around the world through new technologies and discoveries and showing that with innovation, creativity and passion, you can knock down any barrier of race, ethnicity, creed, or gender.
Rabu, 16 Februari 2011
Alliant Techsystems: It's Not Rocket Science to See the Value
Seeking Alpha: Alliant Techsystems: It's Not Rocket Science to See the Value
While most defense stocks like Lockheed Martin (LMT), L-3 Communications (LLL), Northrop Grumman (NOC) and Raytheon (RTN) are up approximately 10% this year, there is one that is down for the year so far. That stock is Alliant Techsystems (ATK), a manufacturer of ammunition, aerospace structures and rocket systems.
With a market cap in the $2 billion range, the company is a tenth of the size of the major defense contractors. It could make a nice acquisition target for a mid-size company like L-3 Communications, a European firm like Finmeccanica (FINMF.PK), BAE Systems (BAESY.PK), or a private equity firm.
Most of the company’s $4.8 billion annual revenue is relatively stable and recurring. The U.S. Department of Defense accounts for approximately half the company’s revenue. There is some concern that with military operations winding down in Iraq and Afghanistan, and the pressures on the U.S. defense budget, this revenue will decline. While this is a legitimate concern, the magnitude is probably overstated. Most of the ammunition used by the defense forces is used for training, which is independent of active military missions.
Ten percent of the company’s revenue is from NASA, with approximately $100 million from the space shuttle program and $400 million from the Constellation program (meant to be the replacement for the space shuttle). This revenue is at risk as the space shuttle program is reaching the end of its life and Constellation faces significant opposition.
For the fiscal year ending March 2011, the company is expected to show net income of approximately $300 million or $9 per share, relatively stable with the year ago figures. The company is projecting free cash flow of $275 to 300 million. It has generated only $54 million in the first nine months, with a big increase in receivables, so this is a cause for concern and needs to be watched.
The company’s pension plan had losses in the 2008 downturn, which are being amortized over five years. This has caused a $50 million (pre-tax) headwind. Effective 2007, new employees are not in the pension plan (only 401K plans), so the pension becomes less of an issue over time.
The company’s capital management has been somewhat shoddy, with the company making acquisitions, hoarding excess cash, and issuing unnecessary debt. The company recently instituted a dividend amounting to $0.80 per share annually, and one hopes that this is a step towards returning a meaningful amount of cash to shareholders.
With sustainable earnings power in the $9 per share range, ATK shares should be trading at $90, in line with the valuation of other defense stocks. From a recent share price of $72, that’s 25% upside.
While most defense stocks like Lockheed Martin (LMT), L-3 Communications (LLL), Northrop Grumman (NOC) and Raytheon (RTN) are up approximately 10% this year, there is one that is down for the year so far. That stock is Alliant Techsystems (ATK), a manufacturer of ammunition, aerospace structures and rocket systems.
With a market cap in the $2 billion range, the company is a tenth of the size of the major defense contractors. It could make a nice acquisition target for a mid-size company like L-3 Communications, a European firm like Finmeccanica (FINMF.PK), BAE Systems (BAESY.PK), or a private equity firm.
Most of the company’s $4.8 billion annual revenue is relatively stable and recurring. The U.S. Department of Defense accounts for approximately half the company’s revenue. There is some concern that with military operations winding down in Iraq and Afghanistan, and the pressures on the U.S. defense budget, this revenue will decline. While this is a legitimate concern, the magnitude is probably overstated. Most of the ammunition used by the defense forces is used for training, which is independent of active military missions.
Ten percent of the company’s revenue is from NASA, with approximately $100 million from the space shuttle program and $400 million from the Constellation program (meant to be the replacement for the space shuttle). This revenue is at risk as the space shuttle program is reaching the end of its life and Constellation faces significant opposition.
For the fiscal year ending March 2011, the company is expected to show net income of approximately $300 million or $9 per share, relatively stable with the year ago figures. The company is projecting free cash flow of $275 to 300 million. It has generated only $54 million in the first nine months, with a big increase in receivables, so this is a cause for concern and needs to be watched.
The company’s pension plan had losses in the 2008 downturn, which are being amortized over five years. This has caused a $50 million (pre-tax) headwind. Effective 2007, new employees are not in the pension plan (only 401K plans), so the pension becomes less of an issue over time.
The company’s capital management has been somewhat shoddy, with the company making acquisitions, hoarding excess cash, and issuing unnecessary debt. The company recently instituted a dividend amounting to $0.80 per share annually, and one hopes that this is a step towards returning a meaningful amount of cash to shareholders.
With sustainable earnings power in the $9 per share range, ATK shares should be trading at $90, in line with the valuation of other defense stocks. From a recent share price of $72, that’s 25% upside.
Rocket science all in a day of learning
The Southland Times (New Zealand): Rocket science all in a day of learning
Makarewa School pupils received a crash-course lesson about space rockets yesterday in a flying visit from a French space agent.
Michel Debeir, European Space Agency exploitation and launch range department administrator, visited the school for about an hour to teach the pupils about rockets, how they enter space and their purposes.
The agent's talk coincides with the expected launch of an Ariane 5 rocket carrying an automated transfer vehicle (ATV) into space today, which Mr Debeir will supervise from the Awarua Tracking Station, near Invercargill.
The rocket was scheduled to launch yesterday but was delayed because of an oxygen sensor malfunction.
It is being launched from Kourou, French Guiana, and will pass over New Zealand about midday before separating from the ATV, which will orbit the earth again before heading to the International Space Station. Mr Debeir told the pupils the unmanned ATV would take about a week to reach the station and was being used to refuel the space station with things such as food, water, air and equipment.
Space was one answer to many problems mankind faced and so it was important for young people to learn about physics and chemistry, he said.
Makarewa teacher Gabrielle Canny said the pupils were already being taught about solar systems at school so it was great to get firsthand expert experience.
"They haven't stopped talking about it all day," she said.
He talked about the ATV and Ariane 5 and brought it down to a level the children could understand, which was great, she said.
Venture Southland enterprise and strategic projects group manager Steve Canny, who has been working with Mr Debier while in Southland, said he was a key person in the development of the Ariane 5 so he was honoured to have him in the region.
Makarewa School pupils received a crash-course lesson about space rockets yesterday in a flying visit from a French space agent.
Michel Debeir, European Space Agency exploitation and launch range department administrator, visited the school for about an hour to teach the pupils about rockets, how they enter space and their purposes.
The agent's talk coincides with the expected launch of an Ariane 5 rocket carrying an automated transfer vehicle (ATV) into space today, which Mr Debeir will supervise from the Awarua Tracking Station, near Invercargill.
The rocket was scheduled to launch yesterday but was delayed because of an oxygen sensor malfunction.
It is being launched from Kourou, French Guiana, and will pass over New Zealand about midday before separating from the ATV, which will orbit the earth again before heading to the International Space Station. Mr Debeir told the pupils the unmanned ATV would take about a week to reach the station and was being used to refuel the space station with things such as food, water, air and equipment.
Space was one answer to many problems mankind faced and so it was important for young people to learn about physics and chemistry, he said.
Makarewa teacher Gabrielle Canny said the pupils were already being taught about solar systems at school so it was great to get firsthand expert experience.
"They haven't stopped talking about it all day," she said.
He talked about the ATV and Ariane 5 and brought it down to a level the children could understand, which was great, she said.
Venture Southland enterprise and strategic projects group manager Steve Canny, who has been working with Mr Debier while in Southland, said he was a key person in the development of the Ariane 5 so he was honoured to have him in the region.
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