My very first flight was aboard a (practically) brand new Air India aircraft, evocatively named the Emperor Ashoka, way back in 1972. Needless to add it left a deep impression on my six-year-old mind, not only because of the dimension of a Boeing 747 ('Jumbo') but the regal ambience, the glamorous, poised cabin crew, and even the food. Air India had already been nationalised for nearly 20 years by then but was still to become sarkari in form and function. Since then, "a good experience" and "Air India" rarely featured in the same sentence for most people. Unless they happened to be VIPs of some sort, usually of the official kind, for whom the crew metaphorically rolled out the red carpet. For most other passengers, it was a recurring nightmare of hugely delayed or cancelled flights, surly and unhelpful staff both at check-in and on board, broken seats, malfunctioning screens, bad or indifferent food and no remorse. In a way, Air India came to symbolise all that is bad about sarkari organisations: slothful, unaccountable and unmindful of the changing world. And so, somewhere along the way, airlines from tiny places like Singapore, Hongkong (Cathay), Qatar and UAE (Emirates, Etihad) set the standard, leaving many older, "legacy" European and US carriers, besides Air India, far behind in terms of cabin comforts, airport amenities, onboard service and on-time performance. After Air India was re-privatised (or de-nationalised!) about three years ago, there were great hopes that the Tatas would instantly take the airline back to its glory days. Naturally there have been lots of social media rants as that has not happened immediately. It is rather like when some people imagine they can get broken bones or torn ligaments to heal in a far shorter time than the doctors' estimates, simply by spending more money. Everything needs time to change. So, flying Air India abroad last month after a hiatus of well over a decade, with some trepidation but a glimmer of hope, I was pleasantly surprised. It helped that the trip was aboard one of the six brand new Airbus350-900s that Air India now operates, as its more numerous older aircraft still bear the scars of its sarkari phase. Both outward bound and back, it was such a good experience from check-in to de-planing that I suddenly felt like a wide-eyed, six-year-old again. As India rises, Indians are also getting used to (and demanding) world-class standards from desi brands, and benchmarking is always against the best-in-class now rather than against lesser lights as used to befit a country that was resigned to being classed as 'Third World'. Yes, India has not birthed a Google or Apple yet, and there are still many infrastructural shortcomings, but once the pressure to perform increases, the market and governments have to respond. 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Thanks to Vishwanathan Anand since 2000 and the Chess Olympiad golds this September, India is no longer consoling itself that chess was invented here even as others dominated the board. That is the case in diverse other spheres too. We have Chandrayaan3 under our belt, UPI is now the norm not a novelty, we even have many Michelin-starred chefs! It remains a national carrier albeit no longer a government entity, so Air India also regaining its world-class status is important. But the deep malaise of its sarkari phase will take time to be excised and solutions are not all in its control, such as the delivery of new and retrofitted planes. So nightmares and rants will continue until the Tatas overhaul Air India's most tenacious sarkari trait: a lackadaisical work ethic. Fortunately, that they are working on it is obvious! Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. 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Malik Nabers says calling the Giants 'soft' was wrong but he doesn't regret speaking out
Taylor Swift makes surprise visit to Kansas City children's hospitalPresident-elect Donald Trump has chosen Republican U.S. Rep. Lori Chavez-DeRemer as his nominee to l e ad the Labor Department . The Oregon House member who narrowly lost her reelection bid earlier this month received strong backing from union members in her district. As a potential labor secretary, Chavez-DeRemer would oversee the Labor Department’s workforce and its budget and put forth priorities that impact workers’ wages, health, safety and ability to unionize, and employers' rights to fire employees, among other responsibilities. “Lori’s strong support from both the Business and Labor communities will ensure that the Labor Department can unite Americans of all backgrounds behind our Agenda for unprecedented National Success - Making America Richer, Wealthier, Stronger and more Prosperous than ever before!” Trump said in a statement. This is a developing story. Please check back for updates.
EAST RUTHERFORD, N.J. (AP) — Malik Nabers said calling the New York Giants “soft” after Sunday's embarrassing loss to the Tampa Bay Buccaneers was a mistake, although the star rookie receiver still plans to speak out when he thinks it's necessary. After talking with coach Brian Daboll and general manager Joe Schoen and watching video of the Giants' 30-7 defeat , Nabers said Tuesday that "soft” was a poor choice of words. “I don’t think it was really soft. I think it was just a lack of technique,” Nabers said. “We were playing our butts off, we just lacked technique.” The Giants (2-9) trailed 23-0 at halftime and had run only 19 plays on offense. Nabers was not targeted in first the half but still finished with a team-high six catches for 64 yards. The No. 6 overall pick in the draft, Nabers said his rant after the game — in which he said the Giants' quarterbacks weren't to blame for the team's poor performance — was just the competitor in him talking. “That’s just how I’m wired. That’s just who I am,” he said. “I just don’t like losing. If I feel like if I had an opportunity to help the team win, I’m going to express that.” Nabers said not being targeted in the opening half was tough because his body is prepared to play and not doing anything throws him off his game. “You’re not getting involved early, then you’re not getting the feel of the ball, you’re not getting hit,” Nabers said. “After football plays as an offense, after you get hit, you’re like, ‘All right, I’m ready to go.’” Nabers has a team-high 67 catches, the most by a player in his first nine NFL games. He said he sees himself as a resource, someone who can change the game for the Giants. “I’m not going to just sit back just because I’m a younger guy and not speak on how I feel,” Nabers said. “They want me to speak up. They feel like my energy helps the offense, in a way, to be explosive. So, of course, I’m going to speak up if something doesn’t go my way. That’s just how I am.” AP NFL: https://apnews.com/hub/nfl
WOBURN, Mass., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Abpro Holdings, Inc. (Nasdaq:ABP) (“Abpro”), a biotech company with the mission of improving the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies, celebrated the closing of its business combination with Atlantic Coastal Acquisition Corp II (“ACAB”), a special purpose acquisition company, with a Nasdaq bell ringing ceremony. Abpro also celebrated the consummation of a PIPE offering raising $7 million in gross proceeds and a $2.76 million convertible note financing with YA II PN, LTD (“Yorkville”) to cover expenses in connection with the closing of the business combination. As previously announced, Abpro also has entered into a Standby Equity Purchase Agreement with Yorkville (the “SEPA”) pursuant to which Abpro has the right, but not the obligation, to issue up to $50 million in shares of its common stock to Yorkville upon registration of such shares, provided that no balance is outstanding on any promissory note to Yorkville (currently $3 million dollars outstanding). Among other restrictions and conditions set forth in the SEPA, the number of shares Abpro may request may not exceed the average of the daily traded amount of its shares of common stock during the five consecutive trading days preceding such request, and shall not cause Yorkville’s ownership to exceed 4.99% of the then outstanding common stock of Abpro, and the maximum amount of shares issued under the SEPA cannot exceed 19.99% of the outstanding common stock of Abpro without prior shareholder approval. Upon registration of the shares subject to the SEPA, Abpro has the right to receive financing for an additional $2 million. As previously announced, Abpro also has entered into a forward purchase agreement for the sale of up to 500,000 shares of common stock. Abpro believes that the various financings should significantly improve Abpro’s financial flexibility as it advances the development of its pipeline of its next-generation antibody therapies. “Becoming a public company represents a major milestone in our journey to provide solutions for patients with difficult-to-treat oncology and ophthalmology indications,” said Ian Chan, CEO and co-founder of Abpro. “The funds are expected to help accelerate the advancement of our pipeline to clinical trials. The financing will also provide the foundation for ongoing development of novel immunotherapies and next-generation antibody treatments in our pipeline with the aim of improving the lives of patients in need.” Abpro is advancing its pipeline of next-generation antibody therapies for HER2+ breast, gastric, and colorectal cancers, non-HER2+ gastric and liver cancer, wet age-related macular degeneration (AMD) and diabetic macular edema (DME), and infectious diseases. These next-generation antibodies are developed using Abpro's proprietary DiversImmune® platform, which creates antibody therapies against traditionally difficult targets. Abpro has partnered with Celltrion , a leading South Korean pharmaceutical company, in an exclusive global collaboration to further advance ABP 102, a T-cell engager, which is being developed for the treatment of HER2+ breast, gastric, and pancreatic cancers. Soo Young Lee, Senior Vice President and Head of the New Drug Division of Celltrion Inc. and a member of Abpro's Board of Directors, remarked, “Abpro’s ABP 102 drug candidate has shown preclinical data indicating the potential for better efficacy and less toxicity. We look forward to working closely with Abpro to advance ABP 102 into clinical trials.” Tony Eisenberg, who serves as a Director of Abpro, and had served as Chief Strategy Officer of ACAB prior to the business combination, added, “It’s an honor to be part of Abpro and the groundbreaking work they are doing. The Atlantic Coastal team is excited to have successfully completed this business combination with Abpro and to work with the Abpro management team to execute their long-term operational and strategic objectives as they develop next-generation antibody therapies with the potential to save lives and generate real return for investors.” Abpro’s Chairperson, Miles Suk, stated, "As the chairperson of the board, I am honored to guide Abpro through this landmark achievement. This listing marks a new chapter of growth and opportunity, and we remain committed to delivering sustainable value to our shareholders." About Abpro Abpro’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro is advancing a pipeline of next-generation antibody therapies, for HER2+ breast, gastric, and colorectal cancers, non-HER2+ gastric and liver cancer, wet age-related macular degeneration (AMD) and diabetic macular edema (DME), and infectious diseases. These antibodies are developed using Abpro's proprietary DiversImmune® platform. Abpro has partnered with Celltrion, which is a leading South Korean biotechnology company, ranked top 25 in the world by market capitalization, in an exclusive collaboration to further advance ABP 102, a T-cell engager, which is being developed for the treatment of HER2+ breast, gastric, and pancreatic cancer. Abpro is located in Woburn, Massachusetts. For more information, please visit www.abpro.com . Forward Looking Statements This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; Abpro’s ability to raise additional capital; the outcome of judicial proceedings to which Abpro or its subsidiaries is, or may become a party; failure to realize the anticipated benefits of the Business Combination, including difficulty in, or costs associated with, integrating the businesses of ACAB and Abpro; risks related to the rollout of Abpro’s business and the cost and timing of expected business milestones; the effects of competition on Abpro’s future business; and those factors discussed in Abpro’s public filings under the heading “Risk Factors,” and other documents of Abpro filed, or to be filed, with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of Abpro’s public filings and other documents to be filed by Abpro from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Abpro may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Abpro does not give any assurance that Abpro will achieve its expectations. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. Contacts Company: info@abpro.com Investors: ir@abpro.com Media: Jessica Yingling, Ph.D., Little Dog Communications Inc. jessica@litldog.com