netrashetty
Netra Shetty
JPMorgan Chase & Co. (NYSE: JPM) is an American global securities, investment banking and retail banking firm. It is a major provider of financial services, with assets of $2 trillion, and is the U.S. banking institution having the second largest market capitalization[2] and third largest domestic deposit base (behind Wells Fargo and Bank of America). The hedge fund unit of JPMorgan Chase is the largest hedge fund in the United States with $53.5 billion in assets as of the end of 2009.[3] It was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.
The J.P. Morgan brand is used by the Investment Bank as well as the Asset Management, Private Banking, Private Wealth Management, and Treasury & Securities Services divisions. Fiduciary activity within Private Banking and Private Wealth Management is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. The CHASE brand is used for credit card services in the United States and Canada, the bank's retail banking activities in the United States, and commercial banking. The corporate headquarters are in New York City and the retail and commercial bank is headquartered in Chicago.[4]
JPMorgan Chase is one of the Big Four banks of the United States with Bank of America, Citigroup and Wells Fargo.
General Aviation Aircraft
Manufacturers in the general aviation sector produce fixed-wing aircraft for regional airline service, business transportation, recreation, and specialized uses such as ambulance service, agricultural spraying, and pilot training. About 12 companies in the United States manufacture general aviation aircraft. The largest manufacturers, measured by number of aircraft produced, are Cessna, Learjet, Mooney, Piper, and Raytheon.
The General Aviation Manufacturers Association (GAMA) reported that in 1998 its members had their highest billings ever at $5.9 billion, up 26 percent from the level in 1997. This was the third year in a row of record-setting sales and deliveries. Shipments of general aviation aircraft reached 2,213 units, up 42 percent from 1,569 units in 1997. Piston-powered aircraft shipments rose 56 percent, and those of turbine-engine aircraft, including seven Boeing Business Jets, increased 18 percent. Billings in the first half of 1999 reached $3.5 billion, an increase of 45 percent over the same period in 1998; unit shipments increased 13 percent in that period. Units exported in 1998 increased 19 percent compared with 1997 and remained steady in the first half of 1999 compared with the same period in 1998.
There are several programs to revitalize the U.S. general aviation industry. One is the Advanced General Aviation Transport Experiments (AGATE) program initiated by NASA in 1994. The AGATE Consortium is a cost-sharing industry-universitygovernment partnership—which includes the Federal Aviation Administration (FAA) as well as NASA’s Langley Research Center—to develop affordable new technologies, industry standards, and certification methods for airframe, cockpit, flight training systems, and airspace infrastructure for next-generation single-pilot, four- to six-passenger, near-all-weather light airplanes. The latest initiative is called the “highway in the sky,” a cockpit display system that includes a computer-drawn highway that the pilot follows to a preprogrammed destination. The displays and other equipment will provide intuitive situational awareness and enough information for a pilot to perform safely, with a reduced workload, in nearly all weather conditions. Business aviation, one of the most important segments of general aviation, consists of companies and individuals that use aircraft as tools to conduct their business. Business aircraft are used by all types of people and companies, from individuals who fly rented, single-engine, piston-powered airplanes to sales or management teams from the largest multinational corporations, many of which own fleets of multiengine, turbine-powered aircraft and employ their own flight crews, maintenance technicians, and other aviation support personnel. The number of flight departments in U.S. businesses grew nearly 25 percent from 6,747 in 1993 to 8,236 in 1998. Although the overwhelming majority of business aircraft missions are conducted on demand, some companies have scheduled operations, known as corporate shuttles, that essentially are in-house airlines. Most corporations that operate business aircraft use modern multiengine turbine-powered jets, turboprops, or turbine helicopters that are certified to the highest applicable transport-category standards.
Aircraft built specifically for business use vary from fourseat, short-range, piston-powered airplanes to two- and threeengine corporate jets that can carry up to 19 passengers nearly 7,000 miles nonstop. Some companies even use airline-type jets, including the Boeing Business Jet, which uses the fuselage of the 737-700 airliner and the wings and landing gear of the 737-800. A rapidly growing alternative to full ownership is fractional ownership, by which companies or individuals own a fraction of an aircraft and receive management and pilot services associated with the aircraft’s operation. Growth in this area has been phenomenal. In 1986, there were four owners of fractionally held aircraft; by 1993, there were 89. From 1997 to 1998, the number of companies using fractional ownership grew over 50 percent from 743 to 1,125.
World deliveries of turbine-powered business airplanes were expected to reach about 760 units in 1999 and increase slightly to about 770 units in the year 2000. Deliveries are expected to decrease each year through 2004 until they reach about 680 aircraft a year.
Regional Jets
A number of definitions for regional aircraft exist, from that of the FAA, which defines regional aircraft as aircraft with fewer than 60 seats, to the definition used by U.S. Regional Airline Association (RAA), which defines them as the aircraft used by “the 97 regional airlines in the United States provid[ing] short-haul scheduled passenger and freight service using turboprop and small turbofan powered airplanes connecting small- and medium-sized communities with larger cities and hub airports.” The RAA definition is more expansive than that of the FAA because it includes aircraft with up to 100 seats.
Fairchild Aerospace (which acquired Dornier of Germany) and Raytheon Aircraft are the only U.S. manufacturers of regional aircraft. Raytheon’s 1900 turboprop aircraft covers the market for regional aircraft with 19 seats. Fairchild Aerospace, based in San Antonio, TX, manufactures a range of aircraft produced both in the United States and in Germany, including the Metro 23 and Dornier 228, turboprops that seat 19 passengers; the Dornier 328, a turboprop that seats 32 passengers; and Fairchild jets seating 32, 44, 55 to 63, 70 to 85, and 85 to 105 passengers, depending on the model and configuration. Competing against the two U.S. manufacturers are Bombardier of Canada (Regional Jet and the Dash 8-100/200), Embraer of Brazil (EMB-120 and the ERJ145), Aerospatiale of France and Alenia of Italy (ATR72 and ATR42), and BAe of the United Kingdom (BAe146/RJ85, the J31/32, and the J41). The U.S. market for regional aircraft has changed markedly in the last decade, especially after the introduction of Bombardier’s Regional Jet (RJ), which provided regional airlines with an aircraft that offered the opportunity to service longer routes at greater speeds. Pairing turboprops with regional jets has sparked the expansion of regional airlines, as has the strength of the U.S. economy and the reliance of many U.S. airlines on a hub-and-spoke network. The overall outlook for regional aircraft is optimistic, although demand for smaller aircraft in the 15- to 39-seat range is expected to decline over the next 20 years. Steady growth is anticipated for turboprop aircraft in the 60- to 99-seat category. Demand for jets in the 40- to 59-seat category is expected to continue the current strong growth. The strongest growth is predicted in the 70-seat jet class as larger regional aircraft capture the medium- and longhaul route segment of the U.S. market.
Rotorcraft or Helicopters
Rotorcraft include helicopters—vertical takeoff and landing aircraft (VTOL)— and tiltrotor or other aircraft that can take off vertically as a helicopter and fly horizontally as an airplane. Some of the special uses of VTOL aircraft are oil rig and pipeline construction, power line construction, logging, transporting crews to offshore oil rigs, law enforcement, fire fighting, search and rescue, emergency medical service (EMS), and electronic news gathering (ENG).
In 1998, U.S. manufacturers shipped 363 civil helicopters— 294 piston and 69 turbine—valued at $252 million, up from 346 units worth $231 million in 1997, an increase of 9 percent. The helicopter industry faces a number of problems, including access to heliports, high operating costs, an increasing shortage of realistic access to airspace, the release of surplus military helicopters in the civil marketplace, and the use of helicopters owned by public operators, which compete for services provided by private operators. Despite these handicaps, the helicopter industry is likely to grow because of its outstanding safety record, the variety of missions unique to helicopters, newly improved models, corporate mergers and acquisitions, strong sales of new and used helicopters, and a new focus on controlling maintenance and operation costs.
In February 1999, The Boeing Company sold its light helicopter product lines to MD Helicopters Holding, a subsidiary of RDM Holding of the Netherlands. The Federal Trade Commission had objected to Boeing’s previous attempt to sell those programs to Bell Helicopter Textron.
Bell Boeing delivered the first production V-22 Osprey tiltrotor aircraft to the U.S. Marine Corps in May 1999. It was the first of 11 V-22s to be assigned for pilot training; the balance of the 360 Ospreys will be delivered later. After the second aircraft is delivered, production will shift from the facility near Fort Worth, TX, to a new factory near Amarillo, TX. The U.S. Air Force’s Special Operations Command has ordered 50 V22s, and the U.S. Navy plans to buy 48. The U.S. Army may be reconsidering its 1987 decision to drop out of the V-22 program. The Osprey is more survivable than, carries twice as many troops as, and is twice as fast as the UH-60 helicopter. Unlike the V-22, the nine-passenger Bell Agusta BA609 (a U.S.–Italian joint venture) civil tiltrotor is pressurized to travel above the weather. The first delivery is expected in the 2004–2005 time frame. After the first four prototypes are completed, production will shift to the new plant near Amarillo. Unmanned Aerial Vehicles. A number of unmanned aerial vehicles (UAVs) exist, both domestically and internationally. Their payload capability, accommodations (volume and environment-temperature maintenance, electrical support, and sensors provided), mission profile (altitude, range, and duration), and command, control (how much control is required by operator and how much of its operations can be preprogrammed), and data acquisition capabilities vary significantly. DOD promoted research on UAVs in the late 1980s and well into the 1990s as reconnaissance platforms to prevent the risk of death or capture of a flight crew. Routine civil access to these various UAV assets is at an early stage.
The J.P. Morgan brand is used by the Investment Bank as well as the Asset Management, Private Banking, Private Wealth Management, and Treasury & Securities Services divisions. Fiduciary activity within Private Banking and Private Wealth Management is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. The CHASE brand is used for credit card services in the United States and Canada, the bank's retail banking activities in the United States, and commercial banking. The corporate headquarters are in New York City and the retail and commercial bank is headquartered in Chicago.[4]
JPMorgan Chase is one of the Big Four banks of the United States with Bank of America, Citigroup and Wells Fargo.
General Aviation Aircraft
Manufacturers in the general aviation sector produce fixed-wing aircraft for regional airline service, business transportation, recreation, and specialized uses such as ambulance service, agricultural spraying, and pilot training. About 12 companies in the United States manufacture general aviation aircraft. The largest manufacturers, measured by number of aircraft produced, are Cessna, Learjet, Mooney, Piper, and Raytheon.
The General Aviation Manufacturers Association (GAMA) reported that in 1998 its members had their highest billings ever at $5.9 billion, up 26 percent from the level in 1997. This was the third year in a row of record-setting sales and deliveries. Shipments of general aviation aircraft reached 2,213 units, up 42 percent from 1,569 units in 1997. Piston-powered aircraft shipments rose 56 percent, and those of turbine-engine aircraft, including seven Boeing Business Jets, increased 18 percent. Billings in the first half of 1999 reached $3.5 billion, an increase of 45 percent over the same period in 1998; unit shipments increased 13 percent in that period. Units exported in 1998 increased 19 percent compared with 1997 and remained steady in the first half of 1999 compared with the same period in 1998.
There are several programs to revitalize the U.S. general aviation industry. One is the Advanced General Aviation Transport Experiments (AGATE) program initiated by NASA in 1994. The AGATE Consortium is a cost-sharing industry-universitygovernment partnership—which includes the Federal Aviation Administration (FAA) as well as NASA’s Langley Research Center—to develop affordable new technologies, industry standards, and certification methods for airframe, cockpit, flight training systems, and airspace infrastructure for next-generation single-pilot, four- to six-passenger, near-all-weather light airplanes. The latest initiative is called the “highway in the sky,” a cockpit display system that includes a computer-drawn highway that the pilot follows to a preprogrammed destination. The displays and other equipment will provide intuitive situational awareness and enough information for a pilot to perform safely, with a reduced workload, in nearly all weather conditions. Business aviation, one of the most important segments of general aviation, consists of companies and individuals that use aircraft as tools to conduct their business. Business aircraft are used by all types of people and companies, from individuals who fly rented, single-engine, piston-powered airplanes to sales or management teams from the largest multinational corporations, many of which own fleets of multiengine, turbine-powered aircraft and employ their own flight crews, maintenance technicians, and other aviation support personnel. The number of flight departments in U.S. businesses grew nearly 25 percent from 6,747 in 1993 to 8,236 in 1998. Although the overwhelming majority of business aircraft missions are conducted on demand, some companies have scheduled operations, known as corporate shuttles, that essentially are in-house airlines. Most corporations that operate business aircraft use modern multiengine turbine-powered jets, turboprops, or turbine helicopters that are certified to the highest applicable transport-category standards.
Aircraft built specifically for business use vary from fourseat, short-range, piston-powered airplanes to two- and threeengine corporate jets that can carry up to 19 passengers nearly 7,000 miles nonstop. Some companies even use airline-type jets, including the Boeing Business Jet, which uses the fuselage of the 737-700 airliner and the wings and landing gear of the 737-800. A rapidly growing alternative to full ownership is fractional ownership, by which companies or individuals own a fraction of an aircraft and receive management and pilot services associated with the aircraft’s operation. Growth in this area has been phenomenal. In 1986, there were four owners of fractionally held aircraft; by 1993, there were 89. From 1997 to 1998, the number of companies using fractional ownership grew over 50 percent from 743 to 1,125.
World deliveries of turbine-powered business airplanes were expected to reach about 760 units in 1999 and increase slightly to about 770 units in the year 2000. Deliveries are expected to decrease each year through 2004 until they reach about 680 aircraft a year.
Regional Jets
A number of definitions for regional aircraft exist, from that of the FAA, which defines regional aircraft as aircraft with fewer than 60 seats, to the definition used by U.S. Regional Airline Association (RAA), which defines them as the aircraft used by “the 97 regional airlines in the United States provid[ing] short-haul scheduled passenger and freight service using turboprop and small turbofan powered airplanes connecting small- and medium-sized communities with larger cities and hub airports.” The RAA definition is more expansive than that of the FAA because it includes aircraft with up to 100 seats.
Fairchild Aerospace (which acquired Dornier of Germany) and Raytheon Aircraft are the only U.S. manufacturers of regional aircraft. Raytheon’s 1900 turboprop aircraft covers the market for regional aircraft with 19 seats. Fairchild Aerospace, based in San Antonio, TX, manufactures a range of aircraft produced both in the United States and in Germany, including the Metro 23 and Dornier 228, turboprops that seat 19 passengers; the Dornier 328, a turboprop that seats 32 passengers; and Fairchild jets seating 32, 44, 55 to 63, 70 to 85, and 85 to 105 passengers, depending on the model and configuration. Competing against the two U.S. manufacturers are Bombardier of Canada (Regional Jet and the Dash 8-100/200), Embraer of Brazil (EMB-120 and the ERJ145), Aerospatiale of France and Alenia of Italy (ATR72 and ATR42), and BAe of the United Kingdom (BAe146/RJ85, the J31/32, and the J41). The U.S. market for regional aircraft has changed markedly in the last decade, especially after the introduction of Bombardier’s Regional Jet (RJ), which provided regional airlines with an aircraft that offered the opportunity to service longer routes at greater speeds. Pairing turboprops with regional jets has sparked the expansion of regional airlines, as has the strength of the U.S. economy and the reliance of many U.S. airlines on a hub-and-spoke network. The overall outlook for regional aircraft is optimistic, although demand for smaller aircraft in the 15- to 39-seat range is expected to decline over the next 20 years. Steady growth is anticipated for turboprop aircraft in the 60- to 99-seat category. Demand for jets in the 40- to 59-seat category is expected to continue the current strong growth. The strongest growth is predicted in the 70-seat jet class as larger regional aircraft capture the medium- and longhaul route segment of the U.S. market.
Rotorcraft or Helicopters
Rotorcraft include helicopters—vertical takeoff and landing aircraft (VTOL)— and tiltrotor or other aircraft that can take off vertically as a helicopter and fly horizontally as an airplane. Some of the special uses of VTOL aircraft are oil rig and pipeline construction, power line construction, logging, transporting crews to offshore oil rigs, law enforcement, fire fighting, search and rescue, emergency medical service (EMS), and electronic news gathering (ENG).
In 1998, U.S. manufacturers shipped 363 civil helicopters— 294 piston and 69 turbine—valued at $252 million, up from 346 units worth $231 million in 1997, an increase of 9 percent. The helicopter industry faces a number of problems, including access to heliports, high operating costs, an increasing shortage of realistic access to airspace, the release of surplus military helicopters in the civil marketplace, and the use of helicopters owned by public operators, which compete for services provided by private operators. Despite these handicaps, the helicopter industry is likely to grow because of its outstanding safety record, the variety of missions unique to helicopters, newly improved models, corporate mergers and acquisitions, strong sales of new and used helicopters, and a new focus on controlling maintenance and operation costs.
In February 1999, The Boeing Company sold its light helicopter product lines to MD Helicopters Holding, a subsidiary of RDM Holding of the Netherlands. The Federal Trade Commission had objected to Boeing’s previous attempt to sell those programs to Bell Helicopter Textron.
Bell Boeing delivered the first production V-22 Osprey tiltrotor aircraft to the U.S. Marine Corps in May 1999. It was the first of 11 V-22s to be assigned for pilot training; the balance of the 360 Ospreys will be delivered later. After the second aircraft is delivered, production will shift from the facility near Fort Worth, TX, to a new factory near Amarillo, TX. The U.S. Air Force’s Special Operations Command has ordered 50 V22s, and the U.S. Navy plans to buy 48. The U.S. Army may be reconsidering its 1987 decision to drop out of the V-22 program. The Osprey is more survivable than, carries twice as many troops as, and is twice as fast as the UH-60 helicopter. Unlike the V-22, the nine-passenger Bell Agusta BA609 (a U.S.–Italian joint venture) civil tiltrotor is pressurized to travel above the weather. The first delivery is expected in the 2004–2005 time frame. After the first four prototypes are completed, production will shift to the new plant near Amarillo. Unmanned Aerial Vehicles. A number of unmanned aerial vehicles (UAVs) exist, both domestically and internationally. Their payload capability, accommodations (volume and environment-temperature maintenance, electrical support, and sensors provided), mission profile (altitude, range, and duration), and command, control (how much control is required by operator and how much of its operations can be preprogrammed), and data acquisition capabilities vary significantly. DOD promoted research on UAVs in the late 1980s and well into the 1990s as reconnaissance platforms to prevent the risk of death or capture of a flight crew. Routine civil access to these various UAV assets is at an early stage.