Infrastructure investors are enthusiastic that Congress finally passed a giant infrastructure bill, but they tell Axios that it won't be a "game changer" for their strategies.
Between the lines: The bill is more of a stamp of approval for what these firms have already been doing.
Public company shareholders no longer need to pick sides when an activist investor tries to assume board control, as either/or votes will look more like mix-and-match.
Driving the news: The SEC yesterday adopted a rule whereby shareholders voting by proxy can pick individual directors, rather than being required to vote for an entire slate of nominees. This will be done via the introduction of what the SEC calls "universal proxy cards."
Sierra Space, a Louisville, Colo.-based commercial space transportation and infrastructure company, raised $1.4 billion in Series A funding at a $4.5 billion valuation.
Why it matters: This is one of the largest VC raises ever for an aerospace company, and moves Sierra Space closer toward its ultimate goal of building a private space station in orbit. In the meantime, it's also working on low-orbit spaceplanes that can deliver cargo and, eventually, crew.
A high-stakes battle over the next bank cop just got shoved into the spotlight.
Driving the news: A crucial hearing yesterday — that was ugly and tense at times — made one thing clear: Saule Omarova's shot at leading one of the nation's most powerful financial regulators may be at risk, with growing opposition from both sides of the aisle.
Supply chain snarls are probably here to stay. That’s not to say that today’s specific challenges won’t abate at some point. But there will be new ones — different from our current variety of chip shortages and a dearth of truck drivers.
Why it matters: Pandemic-driven turmoil may have put supply chains on the public’s radar, but major disruptions were picking up even before COVID — think trade wars, Brexit, and an increasing number of extreme weather events.
Starting today, drones shaped like miniature airplanes will drop packages of 4 pounds or less in customers' yards when they order from a Walmart Neighborhood Market in Northwest Arkansas.
Why it matters: The era of ubiquitous delivery by drone is inching forward, with scattered pilot programs involving pizzas and other light shipments — and the imprimatur of Walmart on this service is a big deal.
Putting together a traditional Thanksgiving meal will cost about 14% more this year than it did in 2020.
Why it matters: Thanksgiving inflation, according to price estimates from the American Farm Bureau, is even greater than the overall increase in the cost of food.
