The Airlines’ Captain In Washington

WASHINGTON, D.C. – A former Marine captain who served in Vietnam, James May is no stranger to tough missions. He’s got plenty of them these days as chief executive of the Air Transport Association, the trade group representing the biggest U.S. airlines.

Last week, for instance, May was an industry point man in responding to the furor over JetBlue’s passenger-stranding debacle.

But on May’s priorities list, the passenger-rights controversy falls well below another big-ticket item: the reauthorization of the Federal Aviation Administration, whose programs expire next September.

Full story at Forbes.com

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Smarter Skies

Beijing has 16 million inhabitants, an economy that grew 12% last year and the 2008 Summer Olympics coming to town. If any city needs to let in more planes, it’s this one.

The Chinese are adding a runway to Asia’s second-busiest airport, but officials there also are hoping new technology will free up more space in the skies. In January the Civil Aviation Administration of China struck a deal with ERA, an Alexandria, Va. company, to install 27 devices, each the size of a minifridge, at Beijing International, and 5 more within a 12-mile radius of the airport. The boxes are packed with sensors that can track planes in flight and on the ground, as well as airport vehicles. More frequent and accurate data on the location of aircraft will let the Beijing airport safely cut the distance between planes as they descend.

Full Story (reg. required) at Forbes.com

The Entrepreneurs’ New Friends

WASHINGTON, D.C. -Not all business folks are worried about the Democratic takeover of Congress. Venture capitalists, for example, are welcoming Nydia Velázquez, D-N.Y., as the new chairwoman of the House Committee on Small Business.

“We feel she really understands the positive impact of venture-backed companies,” says Emily Mendell, a spokeswoman for the National Venture Capital Association (NVCA).

Full story at Forbes.com

Beltway Bet: FuelCell Energy

WASHINGTON, D.C. -Seven years ago, with California sweating through rolling electricity blackouts, the stock market worked up an appetite for outfits selling new ways of generating power. Shares of FuelCell Energy, a company in that business, spiked to a split-adjusted $54. Their recent price? $7, down 52% from a 52-week high.

Matters of energy and environment have hardly dropped out of the headlines, but the market’s enthusiasm for eco-stocks tends these days more to biofuels and solar power. SunPower, in the latter business, trades just 5% off a 52-week high of $48 and at a relatively rich 13 times its revenues.

For investors looking at long-term energy plays, don’t rule out FuelCell Energy. The federal government certainly hasn’t.

Full story at Forbes.com

Stock Focus: Defense Biz Overvalued?

WASHINGTON, D.C – With President Bush’s fiscal year 2008 budget submitted this morning, our tally of proposed spending on defense and national security for fiscal 2007 through 2009 comes to $793 billion.

You can decide whether that big number is reasonable or not. We will note, however, that stocks of the biggest aerospace and defense contractors do not look modestly priced.

Full story at Forbes.com

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