SAMSUNG ENDS INTEL’S REIGN AS CHIP KING
Intel’s more than two decade reign as king of the siliconbased semiconductor ended Thursday when Samsung Electronics surpassed the U.S. manufacturer to become the leading maker of the computer chips that are a 21st century staple much as oil was in the past.
Samsung reported record-high profit and sales in its earnings report for the April-June quarter, and while Intel’s reported earnings beat forecasts, the U.S. company’s entire revenue was smaller than sales from Samsung’s chip division. Samsung said its semiconductor business recorded 8 trillion ($7.2 billion) in operating income on revenue of 17.6 trillion won ($15.8 billion) in the quarter. Intel said it earned $2.8 billion on sales of $14.8 billion.
“Given Samsung’s strength today in flash memory, I am not surprised Samsung surpassed Intel in semiconductor revenue,” said Patrick Moorhead, principal analyst with Moor Insights & Strategy.
Amazon, Foxconn reflect deliver-it-now trend.
Amazon’s plans to add 50,000 jobs at a dozen warehouses across the United States and Foxconn’s decision to build a $10 billion plant and hire up to 13,000 workers in Wisconsin aren’t just feel-good stories of job creation. They reflect the pressures companies now feel to be as close to their customers as possible — a trend that’s helping restore some American factories and jobs.
Bezos was the world’s richest man. For a minute.
Forbes magazine says Amazon CEO Jeff Bezos briefly became the world’s richest man Thursday, as stock in his e-commerce company hit an all-time high. But Microsoft founder Bill Gates reclaimed the lead by afternoon, as Amazon’s stock fell below the day’s opening price.
OSHA probes scaffold accident.
U.S. Department of Labor Occupational Safety and Health Administration is investigating a construction accident that injured two workers when they fell 40 feet from scaffolding at a construction site in Lone Tree.
The men were working on a multi-family housing development at 9980 Train Station Circle when they fell from the fourth story Thursday morning. “They were on scaffolding on the fourth floor and both fell at the same time, down to the street level,” South Metro Fire Rescue spokesman Eric Hurst said.
Seasonal flights to Steamboat Springs set.
Steamboat’s ski season airline program is poised to bring travelers to Colorado from Austin, Texas, and Kansas City, Mo. The Steamboat Ski & Resort Corp. announced Wednesday that flights between Austin and Kansas City and Yampa Valley Regional Airport will begin Dec. 13 and continue through April. The flights will be on 50-passenger jets flown by ViaAir and are set to run Wednesdays, Saturdays and Sundays.
Air bag inflator blamed for another death.
A Florida driver has died in a crash near Tampa that involved an exploding Takata air bag inflator. According to Honda, the crash happened July 19 in Holiday. Authorities have yet to release the cause of death. If the driver was killed by the inflator, it would be the 19th death worldwide and 13th death in the U.S. blamed on the inflators.
Trump Fed nominee likes rule change ideas.
Randal Quarles, who’s poised to be a Federal Reserve official and key player in President Donald Trump’s effort to scale back financial rules, has a clear idea of where regulators should apply pruning shears. Speaking at his Senate confirmation hearing Thursday, Quarles said he agreed with the recent urgings of the man he’d be replacing on the Fed board as the head of bank supervision.
Solar eclipse spurs big business.
Millions of eyes will be fixed on the sky when a total solar eclipse crosses the U.S. in August. It’s likely many of those eyes will be will be safely behind special eclipse glasses churned out by a Tennessee company. American Paper Optics is one of the many businesses including hotels, campgrounds and retail stores taking advantage of the crowds drawn by the coast-to-coast eclipse.