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Microsoft Workers Won't Get Annual Pay Bump Despite $18.3 Billion In Profit In Past 3 Months

Source: Gamespot

Full-time employees at Microsoft will not receive their expected annual salary increases this year, a decision made after the technology giant posted a massive profit.

Microsoft CEO Satya Nadella said in a memo to staff obtained by Insider that economic conditions are to blame for the lack of a salary bump this year. Nadella said, "We don't take this decision lightly, having considered it over several months."

For the quarter that ended on March 31, Microsoft posted revenue of $52.9 billion (up 7%) and a profit of $18.3 billion (up 9%). Microsoft had $26.5 billion in cash and equivalents as of March 31. Despite the rosy results, Microsoft employees are not getting pay increases. Nadella's own pay increased 10% from 2021 to 2022, rising to $55 million.

In 2022, Microsoft announced plans to pay some of its workers a good sum more in salary and stock because talent "is in high demand." But in 2023, Nadella said the "economic conditions" of the world are "very different."

"Given this, we will fund our compensation commensurate with the overall market. As a senior leadership team, we don't take this decision lightly having considered it over several months, and believe it is necessary to prepare the company for long term success," Nadella said.

Read more: https://www.gamespot.com/articles/microsoft-workers-wont-get-annual-pay-bump-despite-18-3-billion-in-profit-in-past-3-months/1100-6513990/

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Moderna Rakes in Surprise Profits Ahead of 400% Vaccine Price Hike

Source: Ars Technica

Things are looking rosy for Moderna, as it reported unexpected first-quarter profits Thursday. But the company is not wavering in its plans to dramatically hike the price of its COVID-19 vaccines.

While financial analysts expected the company to post revenue of $1.18 billion and a loss of $1.77 per share in the first quarter, the company reported $1.86 billion in revenue with a small profit of 19 cents per share.
The company forecasts $5 billion in COVID vaccine sales for this year.

The plump profits haven't changed the company's plans for its COVID-19 vaccines. In an earnings call Thursday, Moderna Chief Commercial Officer Arpa Garay confirmed that the company is still proceeding with the 400 percent increase as the vaccines move from federal distribution to the commercial market later this year.

"In terms of pricing across the US market, we do anticipate our list price—when we have our updated vaccines—to be in the range of $110 to $130," Garay said.

In March, Moderna CEO Stéphane Bancel unabashedly defended the price hike to lawmakers in the face of biting criticism. Senators in the Congressional hearing emphasized that Moderna developed the vaccine in collaboration with government scientists at the National Institutes of Health, and the federal government spent roughly $10 billion to support clinical development and speed production of the shots in the early days of the pandemic.

Read more: https://arstechnica.com/science/2023/05/moderna-rakes-in-surprise-profits-ahead-of-400-vaccine-price-hike/

Satan Club Can Hold Meetings in Saucon Valley School, Federal Judge Rules

Source: lehighvalleylive.com

A federal judge says the Saucon Valley School District must allow the After School Satan Club to meet in one of its schools.

The club will be allowed to meet at the middle school on the dates previously approved by the school district. Those dates were the second Wednesday of March, April and May.

U.S. District Judge John Gallagher on Monday granted the After School Satan Club’s preliminary injunction request to meet in the schools as its full lawsuit plays out in court. The judge will make a final ruling later.

The school district revoked permission for the club to meet after “chaos” ensued, according to Superintendent Jaime Vlasaty. The controversial club drew the ire of the community and a North Carolina man allegedly threatened gun violence if the club were allowed to meet. That forced the entire school district to shut down for security reasons on Feb. 22.

Read more: https://www.lehighvalleylive.com/news/2023/05/satan-club-can-hold-meetings-in-saucon-valley-school-judge-says.html

ViaSat-3 Americas Mission

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After Nearly Two Years, Virgin Galactic's Space Plane Returns to the Sky

Source: Ars Technica

The VSS Unity spacecraft did not make a powered flight with its rocket engine on Wednesday, but it cleared the final hurdle before doing so by performing a glide test in New Mexico.

On Wednesday morning, the VMS Eve aircraft took off from Spaceport America and subsequently released the spacecraft at an altitude of about 14 kilometers. After this, VSS Unity glided back to the runway in New Mexico, testing modifications to the spacecraft's flight controls and handling.

After the test, Virgin Galactic said the glide flight closes its "final validation test points" of a campaign to ensure the aircraft and space plane are ready to resume powered flights. To that end, the company said data collected during the flight will be analyzed in the coming weeks, and assuming the review goes well, the next mission will be a powered spaceflight.

That flight will carry two pilots and four company employees, who will serve as "mission specialists," to evaluate the customer experience during the mission. And if that flight goes well, Virgin Galactic said it is prepared to commence commercial service during the second quarter of 2023. The first commercial flight will carry officials with the Italian Air Force.

Read more: https://arstechnica.com/science/2023/04/after-nearly-two-years-virgin-galactics-space-plane-returns-to-the-sky/

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