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Wally Funk: the female trailblazer who’s the oldest person to go to space

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Earlier today, Wally Funk became the oldest person to ever go to space, aboard the historic New Shepard space flight. But who is Wally Funk?

Earlier today, Wally Funk was among the crew that blasted into space aboard Jeff Bezos’ New Shepard. The Amazon founder was also onboard, alongside his brother Mark and the 18-year old son of Somerset Capital Partner’s CEO. At 82, Funk is the oldest person to ever go to space.

While the focus of the historic flight has mainly been on Bezos as the second billionaire to go to space, it was also a momentous occasion in space travel. More specifically, who is allowed to venture beyond earth.

The much-anticipated trip marked a number of milestones, including the first un-piloted suborbital flight with an all-civilian crew. It was also the first crewed launch for Blue Origin’s New Shepard rocket. As well as the oldest, the crew also included the youngest person to ever reach space.

After landing Funk said, “I’ve been waiting a long time to finally getting up there.”

I loved it,” she said. “I want to go again, fast!”

Wally Funk is the oldest person to ever go to space at 82 years old. She missed out on going to space during the 60s because she’s a woman.

A long-delayed dream

After the flight, Funk described feelings of gratitude for finally seeing her long-delayed dream come true. However, she said that the aircraft didn’t quite go high enough to see the world.

“I saw darkness, I thought I was going to see the world, but we weren’t quite high enough,” she said. However, she didn’t seem too phased by this, saying the flight was “great”.

“I felt like I was just lying down, just lying down — and I was going into space.”

“I’ve done a lot of astronaut training through the world, Russia, America, and I could always beat the guys on what they were doing because I was always stronger, and I have always done everything on my own,” she said.

A lifetime of achievements

By the age of 22, Funk had earned top grades in aviation college and was a certified pilot. She was the first female civilian flight instructor at a US military base at a time when it systematically excluded women.

Funk’s lifetime goal was to become one of the first female astronauts. She was actually one of the was one of the 13 female pilots who trained to go to space in the 60s’, but she missed the chance back then due to her gender. At 24, she was the youngest of these ‘Mercury 13 women’.

She excelled across the board during her training with NASA, sometimes even surpassing the men who were selected. During one test, Funk was placed in a sensory deprivation tank. She remained there for more than 10 hours before the researchers finally brought her out, because they wanted to go home.

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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Money

Boeing CEO to depart with lucrative exit package despite chaos

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Boeing CEO Dave Calhoun is set to step down from his position at the end of the year, walking away with a substantial payout despite challenges faced during his tenure.

Here are the key points:

  • Massive Payout: Despite Boeing’s stock price plummeting by 43% since Calhoun took over as CEO in 2020, he is poised to receive a $24 million payment upon his departure.

  • Additional Compensation: Calhoun holds options that could potentially earn him an additional $45.5 million if his successor manages to boost Boeing’s share price by 37%.

  • Comparative Compensation: Calhoun’s compensation during his tenure exceeds that of CEOs in similar industries, despite Boeing’s stock underperforming in comparison.

Boeing CEO Dave Calhoun’s impending departure at the end of the year has sparked controversy as he stands to walk away with a substantial payout, despite the company’s tumultuous journey under his leadership.

READ MORE: Boeing CEO to step down

Despite inheriting a company reeling from the aftermath of two deadly 737 Max crashes, Calhoun’s tenure has been marred by further setbacks, including the recent Alaska Airlines door blowout incident that further tarnished Boeing’s reputation.

Boeing offers CEO $5.3 million incentive to stay through recovery …

With Boeing’s stock price plummeting by 43% during Calhoun’s time at the helm, questions arise about the correlation between executive compensation and company performance, especially in the face of such significant challenges.

‘Raised eyebrows’

Calhoun’s lucrative exit package, valued at $24 million, has raised eyebrows among shareholders and industry observers alike.

Additionally, the potential for Calhoun to earn an additional $45.5 million based on the future performance of Boeing’s shares has intensified scrutiny over executive compensation practices.

This sizable payout contrasts starkly with Boeing’s stock performance, which has significantly underperformed compared to both industry peers and broader market indices, highlighting the dissonance between executive rewards and shareholder value creation.

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Money

It’s been a record year for CEO compensation

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In 2023, Broadcom’s CEO Hock Tan was granted a stock award worth $161 million, propelling him into the realm of highest-paid CEOs.

However, as the company’s share price surged, the value of Tan’s award skyrocketed to approximately $1.3 billion, outpacing even the shareholders’ annual returns.

Tan’s compensation reflects a broader trend among top executives in the tech sector, where awards of restricted stock and stock options surged in value alongside company share prices.

Notably, CEOs like Charles Robbins of Cisco Systems and Shantanu Narayen of Adobe also saw substantial increases in their compensation, doubling in some cases.

The disclosure of such equity growth in executive compensation is a new requirement by the Securities and Exchange Commission (SEC), providing shareholders with insights into the changing value of executives’ awards throughout the year.

CEO pay is on the rise.

New heights

Overall, CEO pay at major S&P 500 companies reached new heights in 2023, rebounding from slower growth in the previous year. The median pay for these CEOs rose to $15.6 million, up from $14.1 million in 2022, reflecting a surge in equity awards.

Broadcom clarified that Tan’s stock award is designed to span five years, with no plans for additional equity grants or cash bonuses during that period.

Tan’s compensation, which amounts to approximately $33 million annually over five years, is contingent upon his continued tenure and specific share price targets.

While the initial valuation of Tan’s restricted shares stood at $160.5 million, the surge in Broadcom’s share price prompted the company to reassess the likelihood of meeting vesting conditions.

This reassessment suggests that Tan may not receive all the shares initially granted.

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Money

Market forecast: weather whirlwinds influencing investments

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Prime conditions for commodity investments arise from global weather shifts, geological tensions, and rising interest rates.

With global weather patterns causing disruptions in traditional supply chains, coupled with geopolitical tensions over natural resource access, and the anticipation of higher interest rates impacting financial markets, the conditions for commodity investments have reached exceptional levels.

Amidst this backdrop, Farrer Capital has emerged as a standout player, leveraging its unique ‘blue ocean’ approach to capitalize on price dislocations and scarce competition in the market.

Mark Wyld from MW Wealth joins the show to share his insights on the inclement weather impacting the market.

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