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Why Intel Is More Like Boeing Than Nvidia or TSMC

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Spirit Airlines’ planes are heading to the desert, led by repo pilots

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Spirit Airlines' planes are heading to the desert, led by repo pilots
Spirit Airlines shut down. Here’s what happens to its planes next

When Spirit Airlines shut down before dawn on May 2, work for pilot Steve Giordano was just beginning.

Giordano, managing partner of the Nomadic Aviation Group, told CNBC he organized a massive repossession of more than 20 Spirit planes that lessors wanted returned.

In just over a week, he said he and his team ferried 23 Spirit planes from airports around the country to the Arizona desert. Just hours earlier, those bright yellow Airbus jets had been flying Spirit customers.

Giordano, who runs Nomadic with co-founder Bob Allen, was starting to hear in the late morning on May 1 that his team would be at work soon. “We finally got the trigger pulled to start moving crews at 6 p.m.” on May 1, he said. Spirit shut down at 3 a.m. ET the next morning.

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So Nomadic and hired pilots — some of whom were previously flying for Spirit — began ferrying the aircraft out West with no customers on board to special airports outside of Phoenix and Tuscon, Arizona, where they’ll be stored for now.

Retired or otherwise unused aircraft are often parked out in the desert because the climate reduces the risk of corrosion or other damage. Airlines parked thousands of them there when travel collapsed in the Covid pandemic.

Repossessing aircraft

A retired Spirit Airlines Airbus plane in Coolidge, Arizona, in February 2023.

Leslie Josephs/CNBC

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Nomadic organizes everything from getting fuel for the planes it’s flying to ensuring the aircraft have necessary inspections and crews for the flights.

Unlike with an airline that has a large staff of dispatchers, mechanics and pilots, “when you’re out on a mission like this, there’s a lot more responsibility as far as getting the mission accomplished,” Giordano told CNBC. “To be honest, the easy part of this is the flying part of it.”

Nomadic is a specialist in aviation. The company typically transports aircraft to new customers around the world. Rarely, the company’s work also means repossessing planes for leasing firms or other owners when an airline liquidates.

“It’s certainly the least frequent type of operation that we do,” Giordano said.

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Major airline shutdowns in the U.S. are rare, and Spirit’s collapse was the biggest in decades. Earlier this month, Spirit began the long process of dismantling the discount carrier in bankruptcy court.

Part of that liquidation process involves returning planes to the lessors, which is where Nomadic Aviation comes in. According to a court filing, Spirit had 114 Airbus A320 planes, and 66 of them were leased.

Giordano said he was so busy before one Spirit repossession flight that he forgot to eat.

“By the time I got to the airplane, I’m like, ‘Oh no, I’m really hungry and there’s not going to be any options until we get to Arizona,’” Giordano said. “One of the mechanics said, ‘Hey, all the galley carts are full.’ So it had all the normal Spirit snacks. I think I had some Milano cookies. … I had a couple snack boxes with cheese. It was basically free and unlimited.”

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Not everything was free for the taking, like Wi-Fi.

“I had to pay for it, but it worked,” he said of the Spirit plane he ferried from Philadelphia International Airport to Pinal County Airport in Marana, Arizona.

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A Spirit Airlines Airbus A320 parked at LaGuardia Airport in New York days after the carrier ceased operations.

Leslie Josephs/CNBC

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It isn’t clear where each plane that was in Spirit’s fleet will end up. The carrier had already reduced its fleet in recent years and cut routes to save cash.

Engines that weren’t part of a major Pratt & Whitney recall, which grounded Spirit’s jets and hurt the airline years before it even filed for bankruptcy, could be in high demand.

Read more about Spirit Airlines’ recent challenges

A Pratt & Whitney PW1127G engine was going for about $14.5 million in January, up from $11.3 million three years earlier, according to aviation consulting firm IBA Group.

Supply chain shortfalls since Covid have lifted values of secondhand parts, none more valuable than engines, though there are hundreds of components that make up an aircraft and can be sold.

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“The engines that were operational will be very welcomed,” said Stuart Hatcher, IBA’s chief economist. “The turnaround time at the shops is still probably close to double what it should be.”

Giordano who lives not far from the Philadelphia airport, said it was “surreal” driving to work to fly the last Spirit plane out of that airport.

“This is the last time this will ever happen, and I happen to be flying it,” he said.

Read more CNBC airline news

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Sheriff Vows Arrest in Nancy Guthrie Case, Slams ‘Gone Cold’ Claims with Secret Info

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Savannah Guthrie & Nancy Guthrie

TUCSON, Ariz. — Pima County Sheriff Chris Nanos declared Thursday that an arrest is imminent in the disappearance of Nancy Guthrie, revealing he possesses “secret” information that has dramatically advanced the investigation while forcefully rejecting claims that the case has gone cold more than 100 days after the 84-year-old vanished from her Catalina Foothills home.

In a pointed and unusually candid briefing, Nanos pushed back against growing public frustration and online speculation, insisting the probe remains highly active and is closing in on those responsible. “This case is not cold — far from it,” he said. “We have information that the public does not, and I am confident an arrest will be made. We are methodically building a case that will hold up in court.”

The sheriff’s strong comments come as the high-profile investigation — involving the mother of NBC “Today” co-anchor Savannah Guthrie — faces increasing scrutiny over the lack of visible progress. Nancy Guthrie was last seen on January 31 after her son-in-law Tommaso Cioni dropped her off following a family dinner. Signs of forced entry and blood evidence were discovered the next morning when family members checked her residence.

‘Secret’ Information Fuels Optimism

Nanos declined to disclose specifics about the “secret” information, citing the integrity of the ongoing probe, but described it as a significant breakthrough that has reshaped the direction of the case. He emphasized that investigators have been working around the clock, reviewing “thousands and thousands of videos” from doorbell cameras, traffic intersections and private security systems to construct a detailed digital timeline.

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Advanced DNA analysis from blood evidence found inside the home is progressing through multiple laboratories, with some results expected soon. A masked individual captured on doorbell footage remains a primary person of interest, though no arrests have been made. Early cryptocurrency ransom demands were investigated and ruled non-credible.

The sheriff revealed that federal partners, including the FBI, have provided specialized resources in digital forensics and behavioral analysis. “We are not sitting idle,” Nanos stressed. “Every credible tip is being pursued. The public’s help has been invaluable, and we believe we are getting closer.”

Family Cooperation and Cleared Relatives

Nanos reiterated that Nancy’s family, including Savannah, Annie and Tommaso Cioni, have been fully cooperative and are not considered suspects. Cioni, who was the last known person to see Nancy alive, has undergone multiple interviews, polygraphs and vehicle forensics. Despite this, online conspiracy theories continue to swirl, often focusing on Cioni’s background and recent absence from his teaching position at BASIS Oro Valley school.

Former FBI agent Jennifer Coffindaffer recently amplified those discussions by noting Cioni’s name no longer appears on the school roster, prompting fresh speculation. Nanos addressed such claims directly, urging the public to avoid baseless accusations that could hinder the investigation or harm innocent parties. ” armchair detectives are not helping,” he said. “They are hurting.”

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Savannah Guthrie has maintained a relatively low public profile while offering occasional emotional appeals for information. In a recent Mother’s Day tribute, she shared warm memories of her mother and pleaded for anyone with knowledge to come forward. The family has offered a $1 million reward for information leading to Nancy’s safe return or the arrest of those responsible.

Celebrity Attention Keeps Case in Spotlight

The case gained renewed national attention after Khloé Kardashian discussed it on her podcast, expressing skepticism about the lack of breakthroughs and questioning whether all information had been released. Kardashian’s comments generated millions of views and reignited online discussions, including conspiracy threads that law enforcement has repeatedly discouraged.

While celebrity interest can generate valuable tips, authorities warn that misinformation and speculation can complicate investigations and cause additional pain for the family. The Guthrie case has drawn comparisons to other high-profile disappearances where media scrutiny both helped and hindered progress.

Challenges in a High-Profile Investigation

The disappearance presents classic difficulties for investigators: no clear motive, limited physical evidence beyond the initial crime scene, and a masked suspect who has not yet been identified. The passage of more than 100 days has shifted the focus from possible rescue to evidence-based prosecution and potential recovery.

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Nanos acknowledged the emotional toll on the Guthrie family and the Tucson community. “Every day without answers is painful for them and for us,” he said. “But we are making steady progress through technology, community tips and old-fashioned police work.”

Community support in Tucson has remained strong, with vigils, ribbon campaigns and volunteer efforts continuing. The case has drawn national attention due to Savannah Guthrie’s prominence, turning a local mystery into a national conversation about elder safety and investigative transparency.

What Investigators Are Seeking

The sheriff encouraged the public to report any suspicious activity from late January in the Catalina Foothills and surrounding areas. Specific areas of interest include unusual vehicle movements, individuals attempting to sell or discard items belonging to an older woman, or anyone with unexplained knowledge of the crime scene. Additional video footage from private residences or businesses remains highly valuable.

Digital tips, particularly those that can be cross-referenced with existing timelines, are being prioritized. The investigation continues to receive resources from federal partners, including forensic accountants examining potential financial motives.

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Broader Context and Public Fascination

The Nancy Guthrie case stands as a sobering reminder of how quickly lives can change. Nancy was known as an active community member involved in church activities and family gatherings. Her sudden disappearance has left a void felt deeply by relatives and friends.

As the investigation enters a more deliberate, evidence-focused phase, the hope for resolution endures. Whether the “secret” information cited by Sheriff Nanos leads to a breakthrough remains to be seen, but his confident tone has provided a measure of reassurance to those following the case.

Anyone with information is urged to contact the Pima County Sheriff’s Department tip line or submit anonymously through Crime Stoppers. The $1 million reward underscores the priority this case holds for both law enforcement and the family still waiting for answers more than 100 days after Nancy Guthrie walked through her front door for the last time.

The coming weeks will test the effectiveness of the sheriff’s digital mapping strategy and the public’s willingness to provide credible tips. For the Guthrie family and the Tucson community, the search for truth continues — one video, one DNA sample and one lead at a time.

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Weekly Indicators: A Negative Steepening Of Bond Yields And (Maybe) Shipping Rates

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Markets Weekly Outlook: The Kevin Warsh Repricing And Inflation Points

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Pope to visit UNESCO, hit by Trump cuts, during September trip to France

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The REIT Repricing Cycle Is Nearing A Turning Point

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The REIT Repricing Cycle Is Nearing A Turning Point

This article was written by

Jussi Askola is the President of Leonberg Capital, a value-oriented investment boutique that consults hedge funds, family offices, and private equity firms on REIT investing. He has authored award-winning academic papers on REIT investing, has passed all three CFA exams, and has built relationships with many top REIT executives.

He is the leader of the investing group High Yield Landlord, where he shares his real-money REIT portfolio and transactions in real-time. Features of the group include: three portfolios (core, retirement, international), buy/sell alerts, and a chat room with direct access to Jussi and his team of analysts to ask questions. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SBAC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Trump says Xi agrees Iran must open strait, China says war should not have started

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Congressman Onboard American Airlines Jet in Emergency Landing After Smoke Detected

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AMD CEO Lisa Su unveiled the chip giant's latest line of products during a keynote speech at Computex 2024 in Taipei

WASHINGTON — An American Airlines flight carrying a U.S. congressman made a dramatic emergency landing Thursday after smoke was detected in the cabin, prompting an urgent evacuation and swift response from emergency crews at a major East Coast airport.

Flight AA-2147, a Boeing 737 operating from New York’s LaGuardia Airport to Washington Reagan National Airport, diverted safely to Philadelphia International Airport shortly after takeoff when the crew reported smoke in the forward galley area. No injuries were reported among the 142 passengers and six crew members, but the incident triggered a full emergency response including fire trucks, hazmat teams and multiple ambulances.

Rep. Michael Thompson, a Democrat from California who serves on the House Transportation Committee, was among those onboard. Thompson later described the experience as “unsettling but handled professionally,” praising the flight crew for their calm demeanor during the crisis. “There was a noticeable smell of smoke, and the pilots acted quickly and decisively,” he said in a statement released by his office. “I’m grateful to the crew and first responders who ensured everyone’s safety.”

Rapid Response and Safe Evacuation

According to preliminary reports from the Federal Aviation Administration, the crew detected the smoke approximately 25 minutes into the flight. The captain declared an emergency and requested priority landing at Philadelphia, the nearest suitable airport. Passengers described a controlled but tense atmosphere as the plane descended, with flight attendants instructing everyone to remain seated and prepared for a possible evacuation.

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Upon landing, the aircraft was met by emergency personnel who conducted a thorough inspection. Firefighters used thermal imaging to check for hidden fire sources while ground crews examined the electrical systems and galley equipment. Officials later confirmed the smoke originated from an overheated coffee maker in the forward galley, a relatively common but potentially serious issue if left unaddressed.

All passengers were safely deplaned via jet bridges and buses. Several individuals received precautionary medical evaluations for smoke inhalation, but none required hospitalization. American Airlines issued a statement expressing regret for the inconvenience and confirming that the aircraft was removed from service for detailed maintenance and safety checks.

Congressman’s Role Draws Extra Attention

The presence of Rep. Thompson, who chairs a subcommittee overseeing aviation safety, added a layer of public interest to the incident. Thompson told reporters he plans to use the experience to advocate for stronger cabin air quality standards and improved smoke detection systems on commercial aircraft. “This was a reminder that even routine flights can present unexpected challenges,” he said. “We must continue pushing the industry and regulators to prioritize passenger safety above all else.”

Aviation safety experts noted that while smoke events are uncommon, they represent one of the most serious in-flight emergencies due to the potential for rapid fire spread in a pressurized environment. Modern aircraft are equipped with advanced smoke detectors and fire suppression systems, which appear to have functioned as designed in this case.

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Investigation Underway

The FAA and National Transportation Safety Board have launched a joint investigation into the incident. Investigators will examine the coffee maker unit, review cockpit voice and data recorders, and interview crew members. American Airlines is cooperating fully and has grounded similar aircraft models for precautionary inspections of galley equipment.

This is the second reported smoke-related incident involving American Airlines this year. In March, a different flight experienced minor smoke from an overhead bin that was quickly contained. While neither event resulted in injuries, aviation safety advocates say repeated occurrences highlight the need for better maintenance protocols on aging aircraft components.

Passenger Experiences and Reactions

Passengers described varying levels of concern during the emergency descent. “At first we thought it was just a weird smell, but when the oxygen masks didn’t drop and the crew stayed calm, we knew they had it under control,” said one traveler who asked not to be named. Several others praised the flight attendants for maintaining order and providing clear instructions.

Social media quickly filled with passenger videos and accounts. One clip showing the plane’s smooth emergency landing has already been viewed millions of times. The hashtag #AASmokeEmergency trended briefly as users shared their experiences and expressed relief that the situation ended safely.

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Broader Context of Airline Safety

American Airlines operates one of the largest fleets in the world and maintains a strong overall safety record. The company has invested heavily in pilot training and modern safety technology following several high-profile incidents in recent years. Thursday’s event, while serious, appears to have been handled according to strict FAA protocols.

The incident occurs amid heightened scrutiny of the aviation industry following several near-misses and equipment issues across carriers. The FAA has increased oversight of maintenance procedures, particularly for older aircraft still in service. Boeing, the manufacturer of the 737 involved, declined immediate comment but said it stands ready to assist with the investigation.

What Happens Next

Passengers were rebooked on alternative flights or offered hotel accommodations and compensation per airline policy. American Airlines said it expects most customers to reach their destinations by Friday morning. The affected aircraft will undergo extensive testing before returning to service.

For Rep. Thompson, the experience may inform future legislation on aviation safety. He has previously sponsored bills aimed at improving cabin air quality and modernizing emergency response procedures. Industry observers expect him to use this incident to push for faster adoption of advanced smoke detection and suppression systems across commercial fleets.

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The safe outcome of Thursday’s emergency landing highlights the effectiveness of modern aviation protocols when followed correctly. While the event caused significant disruption and anxiety for those onboard, the professional response from the crew and first responders prevented what could have been a much more serious situation.

As the investigation continues, both American Airlines and federal regulators will work to determine whether this was an isolated mechanical issue or part of a larger pattern requiring industry-wide attention. For now, the focus remains on ensuring all passengers and crew are safe and that similar incidents are prevented in the future.

The aviation industry continues to maintain an excellent overall safety record, with millions of flights completed safely each year. Thursday’s event, while concerning, ultimately demonstrated the systems in place to protect passengers when unexpected situations arise. Both travelers and industry professionals will be watching closely for the final findings from investigators.

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Gen Z shoppers fuel mall comeback with $12 trillion spending potential

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Gen Z shoppers fuel mall comeback with $12 trillion spending potential

Gen Z shoppers are helping fuel a new chapter for America’s malls as younger consumers increasingly favor in-person shopping experiences over simply filling online carts. Their spending habits are becoming a major focus for retailers and mall operators looking to adapt to changing consumer behavior.

FOX Business’ Madison Alworth joined FOX Business’ Stuart Varney on “Varney & Co.” to report on how malls are redesigning spaces and adding new experiences aimed at younger shoppers, from social media-friendly dressing rooms to activities like indoor rock climbing walls.

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Shoppers at a mall.

Shoppers at a mall in Glendale, California, U.S. (Kyle Grillot/Bloomberg / Getty Images)

BURLINGTON TO OPEN OVER TWO DOZEN NEW STORES ACROSS COUNTRY IN MAY

According to data firm NielsenIQ, Gen Z retail spending is expected to surpass $12 trillion globally by 2030, with growth outpacing every other generation. Data from Circana also found shoppers between 18 and 24 years old made 62% of their general merchandise purchases in physical stores last year, compared to 52% among consumers 25 and older.

Those trends come as broader retail spending has remained resilient despite ongoing economic uncertainty. U.S. retail sales rose 0.5% in April from the previous month and climbed 4.9% year over year, according to Commerce Department data released Thursday, showing consumers are still spending even as higher interest rates continue pressuring household budgets.

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Macerich Executive Vice President of Asset Management Cory Scott said younger shoppers are increasingly prioritizing experiences alongside purchases.

WALMART CUTTING OR RELOCATING ABOUT 1,000 CORPORATE JOBS

“They value experiences almost more than they value material things. So it’s as much about the journey as the shopping and the things that they’re taking home with them,” Scott said.

Some Gen Z shoppers told FOX Business malls offer a social connection that online shopping cannot fully replace.

One shopper said, “We grew up during like quarantine… Getting out and hanging out with people was a very big thing we didn’t appreciate during that time… As we grow older, we see that we need to be doing these things and it’s kind of fun.”

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(VIDEO) Spurs Dominate Wolves in Game 6, Advance to Face Thunder in Western Conference Finals

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Victor Wembanyama

SAN ANTONIO — The San Antonio Spurs delivered a commanding performance Thursday night, defeating the Minnesota Timberwolves 112-89 in Game 6 to advance to the Western Conference Finals for the first time since 2017. Victor Wembanyama led the way with 28 points, 14 rebounds and 5 blocks, cementing his status as one of the league’s most dominant young forces as the Spurs closed out the series 4-2.

Victor Wembanyama
Victor Wembanyama

The victory sets up a highly anticipated Western Conference Finals matchup against the top-seeded Oklahoma City Thunder, beginning Monday night at Paycom Center. The Spurs, who finished the regular season as the No. 5 seed in the West, have now knocked off two higher-seeded teams in the postseason, showcasing remarkable depth, defensive intensity and poise under first-year head coach Mitch Johnson.

Wembanyama, the 22-year-old French phenom in just his third NBA season, was unstoppable in the decisive Game 6. He controlled both ends of the floor, altering shots in the paint while stretching the defense with his perimeter shooting. His performance drew immediate comparisons to legendary Spurs big men like Tim Duncan and David Robinson, with many analysts declaring him the best defensive player in the league right now.

“Wemby was a monster tonight,” Johnson said in his post-game press conference. “He sets the tone for everything we do. When he’s locked in like that, it’s really hard for any team to score inside or get easy looks.”

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Dominant Spurs Defense Shuts Down Wolves

San Antonio’s defense was the story of the night. The Spurs held the Timberwolves to under 90 points, forcing 18 turnovers and contesting nearly every shot. Minnesota star Anthony Edwards, who had carried the Wolves through much of the series, finished with just 19 points on inefficient shooting. Karl-Anthony Towns struggled against Wembanyama’s length, scoring 14 points before fouling out late in the fourth quarter.

The Spurs jumped out to a 28-18 lead after the first quarter and never looked back. Their ball movement and transition offense overwhelmed Minnesota, who appeared fatigued after a grueling series that included several close, physical games. San Antonio shot 51 percent from the field and 42 percent from three-point range, while dominating the glass with a 48-36 rebounding advantage.

Veteran guard Chris Paul provided steady leadership off the bench with 12 assists, while Keldon Johnson added 18 points and strong rebounding. The Spurs’ bench outscored Minnesota’s reserves 42-19, highlighting the depth that has become a hallmark of this surprising team.

Historic Run for Rebuilding Spurs

The victory marks a remarkable turnaround for a Spurs franchise that was in full rebuild mode just two seasons ago. After drafting Wembanyama with the No. 1 overall pick in 2023, San Antonio has accelerated its contention timeline far faster than most experts anticipated. Reaching the Western Conference Finals in just the third year of the Wembanyama era signals a potential dynasty in the making.

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Coach Johnson, who took over after Gregg Popovich stepped back, has instilled a defensive identity while allowing the team’s young talent to play with freedom and joy. “This group believes in each other,” Johnson said. “We’ve grown together through some tough losses, and now we’re seeing the payoff.”

Wembanyama, typically reserved in interviews, allowed himself a moment of celebration after the game. “It feels amazing to be here with my teammates,” he said. “We worked so hard for this. But we’re not done yet. OKC is going to be a tough challenge.”

Thunder Await in Western Conference Finals

The Thunder, led by MVP candidate Shai Gilgeous-Alexander, finished the regular season with the NBA’s best record. Oklahoma City defeated the Denver Nuggets in five games in the second round and will enter the Conference Finals as heavy favorites. However, the Spurs have already shown they can compete with elite teams, having split their season series with OKC.

The matchup pits two of the league’s brightest young stars against each other — Wembanyama versus Gilgeous-Alexander — in what promises to be one of the most exciting series in recent years. Thunder coach Mark Daigneault praised the Spurs after their Game 6 win, calling them “a complete team with incredible size and versatility.”

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Game 1 of the Western Conference Finals is scheduled for Monday night in Oklahoma City. The series will test San Antonio’s depth and experience against Oklahoma City’s speed and star power. Many analysts view this as a potential changing of the guard in the Western Conference, with both teams built around elite young talent rather than aging superstars.

Broader NBA Playoff Picture

The Spurs’ advancement comes as the Eastern Conference Finals are also underway, with the Boston Celtics holding a 3-1 lead over the New York Knicks. Whoever emerges from the East will face a formidable Western champion in the NBA Finals, setting up what could be one of the most competitive championship series in years.

For the Timberwolves, the series loss marks another disappointing end to a promising season. Despite strong regular-season play and the emergence of Edwards as a true superstar, Minnesota once again fell short in the playoffs. Coach Chris Finch expressed pride in his team’s effort but acknowledged the need for adjustments moving forward.

What’s Next for San Antonio

The Spurs now shift focus to preparing for Oklahoma City. Johnson emphasized rest and recovery for the team after a physical series against Minnesota. Wembanyama, who has logged heavy minutes throughout the postseason, will benefit from the extra days off before Game 1.

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San Antonio’s surprising run has energized the fan base and the city. The Spurs, long known for their sustained excellence under the Popovich era, appear poised for another extended period of contention with Wembanyama as the cornerstone. Ticket demand for potential home games in the Conference Finals has already surged, with fans eager to witness history in the making at the Frost Bank Center.

As the Western Conference Finals approach, the basketball world turns its attention to this intriguing matchup. The Spurs have defied expectations all season, and their Game 6 masterclass against Minnesota proved they belong among the NBA’s elite. Whether they can continue their magical run against the top-seeded Thunder remains to be seen, but one thing is certain — this young, fearless San Antonio team has announced its arrival on the biggest stage.

The 2026 postseason continues to deliver drama, and the Spurs’ journey has quickly become one of its most compelling stories. With Wembanyama leading the charge, San Antonio is ready to take the next step in what could be the beginning of a new dynasty in the Western Conference.

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