Selasa, 02 Juli 2019

Apple Sans Ive - TechCrunch

Well, this has been interesting. After almost 30 years with Apple, Jony Ive is leaving, to found his own firm LoveFrom with his friend and frequent collaborator Marc Newson — also leaving Apple. The response to this news has been predictably histrionic from Apple watchers and press.

The narratives, to summarize, are essentially that:

  • Jony had checked out, become incompetent or just plain lazy
  • Apple is doomed because he is leaving

If those narratives look contradictory then you have eyes.

If you take the sum of the breathless (dare I say thirsty) stories tying together a bunch of anecdotes about Jony’s last couple of years, they are trying to paint a picture of a legendary design figure that has abandoned the team and company he helped build, leading to a stagnation of forward progress — while at the same time trying to argue that the company is doomed without him.

Ok.

Ironically (or perhaps inevitably) even the phrasing of the tweets that accompanied these stories were couched in inflammatory positioning. Tim Cook’s email (actually quite plainly stated) was touted as ‘scathing’, the Journal posited the question: ‘Why hasn’t Apple had a hit product in years? A look at the internal drama around the departure of its design chief helps explain.’ A conclusion that its story only hints at.

Most watchers of the company that I know who were asking and listening to Apple people over the past couple of years are aware that Jony has been on borrowed time with the company. Shocking, this was not — a surprise it was always guaranteed to be given how much control Jony keeps over how and when he does press.

Back in 2015, it was clear that Jony wanted to do less paper pushing and more pencil pushing. And the past decade of Apple has been nothing if not an explosion of management challenges. Enormous growth in product volumes, splintering product lines that made an attempt to leave less room under the pricing and feature umbrella and, yeah, a hell of a lot more people.

“Many of Apple’s critics are purely nostalgic,” Ben Bajarin of Creative Strategies puts it. “Wanting Apple to go back to the days when some of the designs were more bold, iconic, possibly polarizing, but in that time Apple was selling tens of millions of products not hundreds of millions of products. This is a crucially important point that many in the public sphere miss. “

All of that growth means that the job of someone like Jony would naturally shift from scooting a pencil around a drafting board to something more like management — or, in Apple’s case, teaching.

I’m not the Journal’s (or any other publication’s, thank god) public editor. So I will not be fisking the stories that have come out about Jony and his work habits. I’ve never been that good at it and I don’t really have the stomach for it these days. I do have thoughts, though about the way that these anecdotes are tied together in a narrative.

Given that I have covered the company closely for years, I know a lot of the people who were involved in some of these situations. Jony did, in fact, move to holding design meetings at his house in SF. They absolutely held design meetings at The Battery to collate device opinion. He has a design studio in other homes like Hawaii and London. He has absolutely spent more time in the city than down at Apple headquarters over the past few years. The design teams, in and out of the industrial design people, absolutely saw less of him than before.

There are also bits and pieces in the various stories over the past few days that are not, as I understand them, accurate, or represented in an accurate context. But the more important point is that no one I know felt that Jony had checked out or abandoned the team.

As he stated himself, Jony was just plain tired. What prolific designer do you know that is excited about doing more management and less design?

Also, I fully reject the narrative that Apple has somehow floundered because Jony has been absentee. During the period, the company has shipped some enormously successful products — including the major category hit Apple Watch. As one note, I found the criticism that Jony wanted a gold watch so that made the Apple Watch a boondoggle to be enormously hilarious.

The gold watch had 2 distinct purposes:

  • Jony wanted to make it
  • It set expectation that this was a product worth wearing all day

I think it is 100% possible and fair to argue that the first point means Jony had too much power or that it was him exercising that power in a way that felt foreign to Apple’s egalitarian ideals about computing. But the fact is that, regardless of how many they sold, it made a splash and did, in fact, push Apple into the world of fashion and wearable conversation in a way that it hadn’t ever before.

That toe-hold gave them time to figure out what the Watch is actually for and it is a very real success for the company. During the same period, Apple shipped the iPhone X months ahead of schedule, and major updates to every line including the iMac.

I can certainly understand one or more members of the design team resenting the lack of intimate one-on-one time that Jony used to spend with the team when Apple shipped fewer products in more time. And not all of Jony’s influence over the past few years is pristine in hindsight. The MacBook keyboards still suck, I’ll give you that one.

Basically, all design is worth critiquing, and Jony isn’t above that. If something doesn’t work consistently or feel human centric, then it doesn’t matter if 1950’s Dieter Rams himself designed it, it’s crap.

But the argument that Jony derailed product at Apple looks like complete nonsense when you observe the facts. And every design team member I’ve spoken to over the last 4 years has said that Jony, while at times difficult, demanding and intense, has also been an enormous enabling force when it comes to spending the time, resources and energy it took them to get a product or feature to the level they wanted. Resources like on-the-ground materials consultation in China, collaborations with artists around the world, research into the effects of a design — the willingness to ‘do the most’ in search of a solution. None of that went away.

That said, if Jony doesn’t like managing, guess what Jony is not going to be enthusiastic about? As Shel Silverstein put it: “If you have to dry the dishes, and you drop one on the floor, maybe they won’t make you dry dishes any more.”

There is certainly calculus in everything an executive at any big company says publicly — but I think you can believe Jony when he says that he feels like he can be useful elsewhere.

“I certainly have an ambition and feel almost a moral obligation to be useful,” he says in this FT piece. “I feel I’ve been fortunate enough to work with remarkable people over the last 30-plus years and have worked on some very interesting projects and solved some very difficult problems. I feel keenly aware of a responsibility to do something significant with that learning.”

He wants out, and that’s what he’s doing. But he’s not leaving the company in terrible shape, from either an overall perspective and from an internal perspective.

Let’s move away from the anecdotal. What’s more interesting to me than any of this Jony shit talking is where Apple design goes from here.

Apple has put Evans Hankey and Alan Dye in charge of design, reporting to Jeff Williams. Wring your hands all you want about Apple becoming an operations company but, like, where have you been for the last 10 years?

Yes, Apple is a different company now, and it should be. While Jony has given us some amazing work (and some amazing what the hell moments) over the years, its going to be fascinating to watch a new leadership tackle the next era at Apple.

I think it’s also smart of Apple not to announce a single ‘Jony replacement’ at this juncture. Any immediate comparison would likely not do them any favors and this gives the team time to find a new center and a new direction over the next couple of years. I think someone will emerge as the design lead here eventually, but I’m not sure who.

Evans, as I understand it, was hand picked by Jony to lead the ID team as a manager, a job she’s already been doing. She’s a capable design manager with hundreds of patents to her name. More importantly, Apple has a historic and systemic policy that they don’t just put people in to do a job, they put them there to learn from them and to teach them. The Apple way of doing things is institutionalized and taught to new hires.

This institutional tissue, I believe, will survive Jony leaving.

One of the things that struck me the most about a lot of the recent stories is that it painted members of the design team as feckless automatons that could not proceed without Jony approving every move. That’s not true and honestly not even possible. There’s no way Apple could ship on the schedule they have done over the past few years if Jony being late to a meeting would handicap them.

There are a lot of very smart and very talented people at Apple and they are not all named Jony.

I’m also very interested to see how Alan Dye gets on with Apple. He’s got a calm, understated demeanor in person that can come across a bit flat, but he’s clearly very engaged with the task. He’s respected by Apple designers who feel that his work speaks for itself internally and that he has the chops. One of the arcs of Dye’s tenure has been to unify the look and feel of iOS across its platforms in terms of typography like San Francisco.

One of the biggest potholes that the software design team has ever hit, in my opinion, was iOS 7. It needed to be a break with the past for some legitimate reasons, like the expansion of iOS onto new platforms like the car, the watch and beyond. But Jony brought print, not interaction, designers from other parts of Apple in to flesh out the final design and that ended up presenting as a radical new but also radically less usable iOS.

iOS 7, to me, has always reminded me of an apocryphal saying I heard but can’t remember where. It’s about the notoriously difficult to drive Porsche 911: Porsche made a beautiful mistake, and it’s spent 50 years fixing it.

The 911 was a car that was designed to be imbalanced from the beginning by placing the engine in the rear, to emphasize power transfer to the ground via weight and traction. Also, no joke, so you could still fit groceries in it.

Unfortunately, it also enabled massive oversteer, with the car swinging wide on corners incredibly suddenly if pushed too hard. Porsche has refined that design with every iteration, improving every other aspect of the vehicle like traction, larger wheelbase, steering, braking and gearing. Just to get it to a place where the original vision remained intact, but, you know, less fire and dying.

Apple has done much the same since iOS 7, taking a concept that it felt was necessary and continuing to pull it back into a place that feels more usable.

One of the things that stood out to me at the time was that iOS 7 led with a ‘panes of glass’ metaphor. They weren’t all that explicit about it then but it seemed clear to me that they saw this as a way to support all kinds of interfaces from palm first to heads up. An evolution of the information appliance.

Dye and the design team (and Jony, tbf) have spent the last couple of years making big strides fixing the mechanical issues, but it was very exciting to me to see the panes of glass metaphor heavily emphasized at WWDC this year. They’re just panes with depth, texture and hopefully more accessible context this time around.

Even though Jony is a ‘unicorn’ designer, Apple has always thrived on small teams with decision makers, and they’re not all one person. The structure of Apple, which does not rely on product managers, still leaves an enormous amount of power in the hands of the people actually doing the work. I’m not as concerned as a lot of people are that, with Jony leaving, there will suddenly be a slavish hewing to the needs of ‘ops over all’. It’s not in the DNA.

That doesn’t mean however, that there aren’t still question marks. Jony was an enormous force in this company. It is completely natural to be curious, excited and, hell yeah even worried about what his departure will do to the design focused Apple people love to love.

daniel arsham adidas futurecraft 4d bd7400 where to buy 2

An Adidas Futurecraft shoe with a midsole printed by Carbon

As for me, I hope that there can be a balance struck between the established patterns of Apple design and new schools of thought. No company should remain rooted in the past completely. There are wildly interesting things happening in design and manufacturing at the moment. Trends like programmatic or “AI” design that allow designers to define an algorithm and a set of constraints, and then generate ‘impossible’ shapes out of edgy materials to obtain a result unable to be sketched or sculpted by traditional processes.

The shoe pictured above is a collaboration between an artist and an algorithm. Daniel Arsham, Adidas and a startup called Carbon made this with the help of a design program that understands the goals and materials its working with, but charts its own path to getting there. This is the new school of design.

The compression of the design and manufacturing stacks into one segment is going to be the defining characteristic of this age of product development in my opinion. Apple needs to jump on that wave and ride it.

There’s a Steve quote, prominently displayed on the wall of the Infinite Loop 4 building in its old Cupertino headquarters.

“I think if you do something and it turns out pretty good, then you should go do something else wonderful, not dwell on it for too long. Just figure out what’s next.”

I’d love to see Apple’s design teams do just that, embrace these new schools of thought and find ways to integrate them into the way that it has always worked. There hasn’t been a more fascinating time to follow this company in years. Whatever happens it won’t be boring.

Lead image: Bryce Durbin

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https://techcrunch.com/2019/07/02/apple-sans-ive/

2019-07-02 18:40:48Z
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Mom furious with United Airlines after boy is placed on wrong international flight: 'Cosmic failure' - Fox News

United Airlines has issued an apology after a 14-year-old boy was reportedly instructed to board the wrong international flight on Sunday.

Anton Berg, of North Carolina, was scheduled to fly from Raleigh to Stockholm, Sweden, via a stop at Newark Liberty International Airport (EWR) in New Jersey.

WOMAN WEARING SEE-THROUGH TOP KICKED OFF PLANE FOR 'DISRUPTIVE BEHAVIOR'

Once at EWR, however, Anton was ushered onto a Eurowings flight headed for Dusseldorf, Germany — rather than the Scandinavian Airlines partner flight he was booked on — despite his parents, Christer and Brenda Berg, paying United an additional $150 to escort the boy to the correct flight, WRAL reports.

Anton alerted his parents to the mix-up via text, but only after he was already on the plane, and began to realize he was on the wrong aircraft.

Brenda Berg claimed on Twitter that she was unable to reach United by phone, to notify them of the mix-up, so she began tweeting directly at the airline, begging for someone to confirm where her son was.

“He is an unaccompanied minor going to ARN. You probably put another kid in his place who is supposed to go to Germany. The ARN is due to take off any second. The Eurowings to DUS has stopped on the runway. Do something! - call me,” she pleaded, all while Anton was sitting on the tarmac.

CHRISSY TEIGEN FINDS TSA LOOPHOLE CONCERNING GRAVY

Brenda continued tweeting throughout the ordeal, claiming that no one from United had responding, or confirmed whether Anton was off the plane, for over an hour.

Anton eventually did return to the terminal in Newark, she said, though he was still unaccompanied.

Brenda was finally able to reach a representative, who said Anton was being rebooked on a different flight to Copenhagen. He arrived in Stockholm on Monday.

"When somebody says unaccompanied minor, wrong airplane, wrong country, everybody should’ve stepped up and done something," Brenda told WRAL, adding that the screw-up was a "cosmic failure" on United's part.

CLICK HERE TO GET THE FOX NEWS APP

Eurowings, meanwhile, said in a statement obtained by Fox News that Anton had “mistakenly received a boarding pass for the [Eurowings] flight,” which was boarding at a neighboring gate to the Scandinavian Airlines flight.

Eurowings said in a statement that he somehow "mistakenly received a boarding pass for the [Eurowings] flight" rather than the scheduled Scandinavian Airlines flight he was scheduled to board.

Eurowings said in a statement that he somehow "mistakenly received a boarding pass for the [Eurowings] flight" rather than the scheduled Scandinavian Airlines flight he was scheduled to board. (iStock)

“The boarding for both flights was handled by an external service provider who was in charge for both SAS and Eurowings,” the airline told Fox News. “The passenger mistakenly received a boarding pass for the EW flight to DUS instead of a boarding pass for the SAS flight to Stockholm.”

Eurowings added that the crew “reacted immediately and informed the captain” before the plane turned back for the gate at EWR, where Anton was handed off to Port Authority and Transportation Security Administration staff.

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United has also issued an apology for the incident.

“The safety and well-being of all of our customers is our top priority, and we have been in frequent contact with the young man’s family to confirm his safety and to apologize for this issue,” the airline wrote. “Once Eurowings recognized that he had boarded the wrong aircraft in Newark, the plane returned to the gate — before taking off. Our staff then assisted the young customer to ensure that he boarded the correct rebooked flight later that evening.

“We have confirmed that this young customer safely reached his destination.”

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https://www.foxnews.com/travel/united-airlines-boy-wrong-international-flight-cosmic-failure

2019-07-02 15:58:48Z
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Mom furious with United Airlines after boy is placed on wrong international flight: 'Cosmic failure' - Fox News

United Airlines has issued an apology after a 14-year-old boy was reportedly instructed to board the wrong international flight on Sunday.

Anton Berg, of North Carolina, was scheduled to fly from Raleigh to Stockholm, Sweden, via a stop at Newark Liberty International Airport (EWR) in New Jersey.

WOMAN WEARING SEE-THROUGH TOP KICKED OFF PLANE FOR 'DISRUPTIVE BEHAVIOR'

Once at EWR, however, Anton was ushered onto a Eurowings flight headed for Dusseldorf, Germany — rather than the Scandinavian Airlines partner flight he was booked on — despite his parents, Christer and Brenda Berg, paying United an additional $150 to escort the boy to the correct flight, WRAL reports.

Anton alerted his parents to the mix-up via text, but only after he was already on the plane, and began to realize he was on the wrong aircraft.

Brenda Berg claimed on Twitter that she was unable to reach United by phone, to notify them of the mix-up, so she began tweeting directly at the airline, begging for someone to confirm where her son was.

“He is an unaccompanied minor going to ARN. You probably put another kid in his place who is supposed to go to Germany. The ARN is due to take off any second. The Eurowings to DUS has stopped on the runway. Do something! - call me,” she pleaded, all while Anton was sitting on the tarmac.

CHRISSY TEIGEN FINDS TSA LOOPHOLE CONCERNING GRAVY

Brenda continued tweeting throughout the ordeal, claiming that no one from United had responding, or confirmed whether Anton was off the plane, for over an hour.

Anton eventually did return to the terminal in Newark, she said, though he was still unaccompanied.

Brenda was finally able to reach a representative, who said Anton was being rebooked on a different flight to Copenhagen. He arrived in Stockholm on Monday.

"When somebody says unaccompanied minor, wrong airplane, wrong country, everybody should’ve stepped up and done something," Brenda told WRAL, adding that the screw-up was a "cosmic failure" on United's part.

CLICK HERE TO GET THE FOX NEWS APP

Eurowings, meanwhile, said in a statement obtained by Fox News that Anton had “mistakenly received a boarding pass for the [Eurowings] flight,” which was boarding at a neighboring gate to the Scandinavian Airlines flight.

Eurowings said in a statement that he somehow "mistakenly received a boarding pass for the [Eurowings] flight" rather than the scheduled Scandinavian Airlines flight he was scheduled to board.

Eurowings said in a statement that he somehow "mistakenly received a boarding pass for the [Eurowings] flight" rather than the scheduled Scandinavian Airlines flight he was scheduled to board. (iStock)

“The boarding for both flights was handled by an external service provider who was in charge for both SAS and Eurowings,” the airline told Fox News. “The passenger mistakenly received a boarding pass for the EW flight to DUS instead of a boarding pass for the SAS flight to Stockholm.”

Eurowings added that the crew “reacted immediately and informed the captain” before the plane turned back for the gate at EWR, where Anton was handed off to Port Authority and Transportation Security Administration staff.

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United has also issued an apology for the incident.

“The safety and well-being of all of our customers is our top priority, and we have been in frequent contact with the young man’s family to confirm his safety and to apologize for this issue,” the airline wrote. “Once Eurowings recognized that he had boarded the wrong aircraft in Newark, the plane returned to the gate — before taking off. Our staff then assisted the young customer to ensure that he boarded the correct rebooked flight later that evening.

“We have confirmed that this young customer safely reached his destination.”

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https://www.foxnews.com/travel/united-airlines-boy-wrong-international-flight-cosmic-failure

2019-07-02 15:41:22Z
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Mom fumes as United puts her son on flight to wrong country - New York Post

A 14-year-old boy traveling alone from North Carolina to Sweden was put on the wrong plane during a transfer at Newark Airport, where he alerted the crew on the Germany-bound flight right before takeoff, according to reports.

The comedy of errors involving three airlines began when Anton boarded a United flight on Sunday with a codeshare ticket booked on Scandinavian carrier SAS, which does not have direct service from Raleigh to Stockholm, his mom, Brenda Berg, told Business Insider.

The boy was supposed to be put on an SAS flight to Sweden — but United placed him on a plane operated by German low-cost airline Eurowings bound for Düsseldorf, according to the news outlet.

SAS and Eurowings both operate those flights as codeshares with United.

“We booked him through SAS to visit his grandparents in Sweden,” Berg told USA Today in an email.

“SAS does not have an unaccompanied minor program for a 14-year-old,” she said. “We intentionally booked a long layover in a domestic location, so it would be easy.”

An unaccompanied minor attendant was supposed to take Anton to SAS Flight SK904 to Stockholm, she added.

“According to my son, the UM agent took him from the UM room at Newark to the Eurowings flight to Germany that he boarded,” Berg continued.

“The United agent handed my son’s paperwork to the agent at the gate, who immediately moved him onto the plane, apparently without looking at this UM paperwork.”

When Anton realized he was on the wrong plane, he “contacted a flight attendant, and the plane was turned around,” his mom said.

SAS agents quickly rebooked Anton, but he had to wait more than five hours for the next flight to Stockholm, she said.

A frantic Berg detailed the unfolding fiasco on Twitter.

“@United @SAS my son is in the wrong plane!!! EWR you put him on a plane to Germany!!!!” she wrote.

“They are booking him through Copenhagen. He will have 7hours of additinal (sic) travel. Still NO one has called from @united. I finally got through to a rep after 52 minutes and i am back on hold. Warning to everyone. Never trust @United with your children,” she said in another tweet before finally getting hold of a United manager.

“Ironically, @United if you hadn’t accompanied him, this would never have happened. He wouldn’t have counted on you to know what you were doing. #NeverUnitedAir,” she added.

United’s UM policy states that “this service is required for children ages 5-14 who are traveling alone.”

For $150 each way, the program includes a wristband for a child to wear and special bag tags so United employees can clearly identify them as being unaccompanied.

“Unaccompanied minors can only travel on nonstop United or United Express flights and United does not offer unaccompanied minor service connecting to or from other airlines’ flights,” according to the policy.

A United spokesman told Business Insider that a 14-year-old flying alone would normally not be allowed when an international flight is involved, but that because the ticket was sold by SAS, the check-in agent decided to allow Anton onto the connecting flight with the airport escort service.

The teen’s paperwork contained the correct flight information, but there was a gate change before he arrived at Newark for the connecting flight and the Eurowings plane was sitting at the gate at that point.

The United rep said the flight to Germany was awaiting one more passenger, whose name was similar to Anton’s, and the person escorting the boy assumed the passenger being called on the public address system was the boy.

“The safety and well-being of all of our customers is our top priority, and we have been in frequent contact with the young man’s family to confirm his safety and to apologize for this issue,” United said in a statement.

“Once Eurowings recognized he had boarded the wrong aircraft in Newark, the plane returned to the gate — before taking off. Our staff then assisted the young customer to ensure that he boarded the correct rebooked flight later that evening. We have confirmed that this young customer safely reached his destination.”

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https://nypost.com/2019/07/02/mom-fumes-as-united-puts-her-son-on-flight-to-wrong-country/

2019-07-02 14:28:00Z
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Elizabeth Warren blasts former FDA commissioner for joining Pfizer's board - STAT

WASHINGTON — Sen. Elizabeth Warren on Tuesday called for Scott Gottlieb, who resigned as commissioner of the Food and Drug Administration in April, to leave Pfizer’s board of directors.

In a letter, the Massachusetts Democrat applauded Gottlieb’s tenure at FDA but suggested his decision to join the drug giant “smacks of corruption.”

Gottlieb’s decision to join a corporation he once regulated, Warren wrote, “makes the American people rightfully cynical and distrustful about whether high-level Trump Administration officials are working for them, or for their future corporate employers.”

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Warren is among the leading candidates for her party’s presidential nomination in 2020. Many of her legislative priorities in recent years have fallen under FDA’s purview, including an aggressive bill aimed at lowering drug prices and a $100 billion proposal to counter the opioid epidemic.

Gottlieb announced last week that he would join Pfizer’s board beginning June 27, sparking immediate criticism that the company would have unmatched sway with the agency that regulates it. The move also allowed critics of the Trump administration to pounce on the perceived hypocrisy of an official who touted his work to lower drug costs accepting a leadership position with the world’s largest pharmaceutical manufacturer.

Gottlieb’s move, however, is typical.

Every FDA commissioner over the past 38 years has joined the board of a pharmaceutical company after leaving the agency, with the exception of David Kessler, who served as commissioner from 1990 to 1997. Robert Califf and Peggy Hamburg, the commissioners who immediately preceded Gottlieb, took posts at Cytokinetics and Alnylam Pharmaceuticals, respectively.

In a statement, Gottlieb said he respected Warren and would respond to her letter “promptly, directly, and privately.”

“While I was at FDA, I had a productive relationship with Sen. Warren, working together to advance shared public health goals,” he said.

Despite her criticism, Warren’s letter also touched on her broad approval for Gottlieb’s accomplishments at the agency — rare praise for a Trump administration official from a liberal Democrat and 2020 presidential candidate. 

“Unlike other administration officials who dedicated themselves to rolling back public health and consumer regulations, you often used your tenure to strengthen protections for Americans,” Warren wrote.

Warren, however, also wrote that Gottlieb is the second high-ranking federal official to leave government for industry in recent months. Warren also cited John Kelly, President Trump’s former chief of staff, who joined the board of a for-profit company operating a large detention center for migrant children in Florida.

Gottlieb also told STAT last week that he was “proud of the affiliation.”

“I’ve never been shy about my belief that America has the best biopharmaceutical sector in the world and this sector and its output of beneficial medicines is one of our great national achievements,” Gottlieb said in an email. “At the same time, I’m confident my record at FDA demonstrates I put the public health interest first and called balls and strikes based on the science and the public interest.”

In the letter, Warren also touted anti-corruption legislation that she said “would shut the revolving door and prohibit giant companies like Pfizer from wielding undue influence.”

That bill would prohibit many private companies from hiring or paying senior government officials in the four years following their departure.

Nicholas Florko contributed reporting. 

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https://www.statnews.com/2019/07/02/warren-blasts-gottlieb-pfizer-board/

2019-07-02 14:24:27Z
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Budweiser IPO: AB InBev prepares its Asia business for biggest listing of the year - CNN

Budweiser Brewing Company APAC, the largest brewer in Asia by retail sales, plans to offer 1.63 billion shares for between 40 and 47 Hong Kong dollars ($5.13 to $6.02), according to a document setting out the terms of the IPO that was shared with CNN Business.
That would raise between $8.3 billion and $9.8 billion for the brewer of Bud Light, Beck's and Stella Artois. The biggest IPO of the year so far, by Uber (UBER) in May in New York, raised $8.1 billion.
The world's biggest brewer could use the funds to reduce its massive debt load. But AB InBev CEO Carlos Brito suggested in late June that listing in Asia could also lead to acquisitions in the region.
"The number one reason to do the listing is to have a platform in the region that is seen as closer to those markets and connected to what the region will do, since that's something that can be attractive to local groups," he told the Financial Times.
AB InBev became the world's largest brewer by borrowing money to fund a series of acquisitions. Its most recent mega purchase, of SABMiller, increased the company's debt to $102.5 billion in 2018.
The Fat Jewish's Babe Wine has been bought by the owner of Budweiser
The IPO could also help the company in China, the world's largest market for beer. AB InBev's sales in the country grew 8.3% last year, with its super premium brands performing especially well.
Institutional investors could submit orders starting on Tuesday, according to the IPO document. The IPO will be opened to retail investors on July 8, and the stock will list on the Hong Kong Stock Exchange on July 19.
Budweiser APAC plans to sell 95% of the shares to international institutional investors. Only 5% will be set aside for retail investors, unless underwriters choose to release additional shares.
JPMorgan (JPM) and Morgan Stanley (MS) are joint sponsors on the deal, while Bank of America Merrill Lynch (BAC) and Deutsche Bank (DB) are acting as joint global coordinators.
AB InBev declined to comment.

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https://www.cnn.com/2019/07/02/investing/budweiser-ipo-ab-inbev-asia/index.html

2019-07-02 13:45:00Z
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Trader Joe's, Green Giant veggies recalled due to Listeria risk Trader Joe's, Green Giant veggies recalled due to Listeria risk - CNN

The vegetable products were voluntarily recalled by manufacturer Growers Express due to concerns about possible contamination with the bacteria Listeria monocytogenes, the FDA said in a Monday statement.
The packaged vegetables were produced at a factory in Biddeford, Maine, and were distributed to grocery stores across the United States, primarily in Massachusetts, Connecticut, Pennsylvania and Maine. The FDA issued a list of the stores and states affected.
Most of the potentially contaminated products have "Best if Used By" dates between June 26 and 29, 2019. No Green Giant frozen or canned vegetables are recalled.
"Listeria is an organism that can cause serious and sometimes fatal infections in young children, frail or elderly people, and others with weakened immune systems," said the FDA.
Other short term symptoms include high fever, severe headaches, stiffness, nausea, abdominal pain and diarrhea, according to the FDA. Listeria infections can cause pregnant women to have miscarriages and stillbirths.
If you think your veggies might be recalled, or if you can't read the date on your packaged veggies, the FDA urges you to not consume them and to throw away the packages.
Most of the potentially contaminated products have "Best if Used By" dates between June 26 and 29.
"The safety of our consumers is our first priority," said Tom Byrne, president of Growers Express in a statement.
"We self-reported the need for this recall to the US Food and Drug Administration and stopped production immediately after being notified of a single positive sample by the Massachusetts Department of Health."
Growers Express issued a full list of the products recalled. It includes:
  • Green Giant Fresh Butternut Squash Cubes
  • Green Giant Fresh Butternut Squash Noodles
  • Green Giant Fresh Butternut Squash Diced
  • Green Giant Fresh Cauliflower Crumbles Fried Rice Blend
  • Green Giant Fresh Ramen Soup Bowl
  • Green Giant Fresh Sweet Potato Cauliflower Crumbles
  • Green Giant Fresh Zucchini Noodles
  • Signature Farms Cauliflower Crumbles
  • Trader Joe's Butternut Squash Spirals
  • Trader Joe's Zucchini Spirals
Growers Express said it is sanitizing the factory and equipment involved and conducting additional safety tests. No other Growers Express products were involved in the recall.

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https://www.cnn.com/2019/07/02/health/vegetable-trader-joes-green-giant-recall-trnd/index.html

2019-07-02 13:22:00Z
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