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National Geographic
2 days ago
- General
- National Geographic
Charles Lindbergh was a Nazi puppet—and his famous flight was overrated. Here's why.
Charles Lindbergh standing in front of his plane, the Spirit of St. Louis, which he used on his transatlantic flight. Photograph by Bridgeman Images The aviator was so impressed by German propaganda that he grossly overestimated Hitler's airpower. I have to declare a personal stake that shapes my opinion as I write this story. It has its origins in 1940, 85 years ago this month. I was seven years old, living near London. I watched the choreography of a great battle underway, etched in vapor trails high above in the crisp blue sky of summer, the combat that became known as the Battle of Britain. I wasn't scared. I watched with the detached excitement of a child unaware of how perilous those days were for us. That understanding would come later, from my work as a journalist, spending years discovering how closely fought that famous victory was. Had that battle been lost it is doubtful that Britain, then alone as most of Western Europe fell to Hitler, could have survived, as it did, until Pearl Harbor made American intervention inevitable. As things have turned out, one of my most unsettling discoveries has been that a man long hailed as an American legend, Charles Lindbergh, worked avidly with the Germans to undermine the chances of a British victory. Much has long been known about Lindbergh's alliance with American fascists between 1939 and 1941, and particularly his speech in Des Moines, Iowa in September 1941, in which he blamed three groups—the Roosevelt administration, the British and the Jews—for pressing the nation to confront Hitler. Much less known is the role Lindbergh played in England during the 1930s as Hitler's useful idiot, spreading the idea that Nazi Germany had become an invincible air power. The first Nazi to spot and exploit Lindbergh as an effective agent of German disinformation was Hermann Goering, Hitler's deputy and head of his air force, the Luftwaffe. Goering recognized that Lindbergh's celebrity gave him oracular authority on aviation—whether justified or not. Portrait of Charles Lindbergh Photograph by The Stapleton Collection, Bridgeman Images A decade after Lindbergh's epic solo flight across the Atlantic, on October 16, 1937, the Nazis made their master move, allowing him into their secret test field at Rechlin, near the Baltic coast. Virtually all the Luftwaffe's future aircraft were revealed to him. Credulous and convinced that no other European power rivaled Germany in the air, Lindbergh thereafter became a powerful influence on the 'peace at any price' factions in Britain and France. Lindbergh had no background in military aviation, but when he spoke on the subject of anything with wings, a lot of important people listened. There were numerous reports of Lindbergh pressing his views on leading European politicians, some of whom found them unnerving and demoralizing. For example, the British military attaché in Paris, seeing how rattled the French were by Lindbergh's assessments, reported to London, '…the Fuhrer found a most convenient ambassador in Colonel Lindbergh.' Limited Time: Bonus Issue Offer Subscribe now and gift up to 4 bonus issues—starting at $34/year. Lindbergh's impact in Britain was equally effective. In a single meeting he could turn a stern patriot into an abject appeaser. In 1938 a highly influential Tory, Thomas Jones, noted in his diary that before listening to Lindbergh he had been for standing up against Hitler but: 'Since my talk with Lindbergh I've sided with those working for peace at any cost in humiliation, because of the picture of our relative unpreparedness in the air…' (How the Battle of Britain changed the war—and the world—forever) Lindbergh also had a willing ear in the American ambassador in London, Joseph Kennedy. In 1938 he told Kennedy that Germany was then able to produce 20,000 military airplanes a year and gave a dark prediction of likely British defeat in the air. (In October 1938 Goering, on behalf of Hitler, awarded Lindbergh the Service Cross of the German Eagle.) In fact, Lindbergh's numbers were absurdly inflated. They were, literally, being used by the Nazis as a force multiplier. Moreover, Lindbergh's propaganda had masked a systemic weakness in the organization of German aircraft production. It was far from being a model of Teutonic efficiency. Production was dispersed among many manufacturers competing for resources and slowed by supply chain bottlenecks. In contrast, British aircraft production was far more rigorously directed and resourced from a central command. Charles Lindbergh receiving the Service Cross of the German Eagle from Hermann Goering on behalf of Adolf Hitler Photograph by SZ Photo/Scherl, Bridgeman Images More crucially, Lindbergh had no inkling of a game-changing technical leap in the deployment of air power that the British pioneered, the world's most advanced radar-based early warning system. Incoming waves of bombers could be pinpointed and tracked before they reached the British coast. Their size, direction and altitude were precisely plotted on a map in a central operations room, enabling the Royal Air Force (R.A.F) to deploy its precious hundreds of advanced fighters and pilots sparingly in the most efficient and deadly way. Britain's 'finest hour' At the outbreak of war, in September 1939, Germany did have a clear lead in numbers: 2,893 available front-line airplanes versus 1,600 in Britain. But by July, 1940, when the Battle of Britain began, the difference had narrowed. Britain had 644 front-line fighters to 725 German (with their time over England critically limited by fuel). By the end of September, when the RAF's famous victory was achieved, they had 732 fighters available while the Luftwaffe was reduced to 438. Weeks before the battle in the air began, Britain's expeditionary army in France had been nearly wiped out, saved only by the evacuation at Dunkirk. Few foresaw that its air force, the most scientifically advanced of its forces, was actually capable of saving the day. But—a point mostly overlooked by historians—Prime Minister Winston Churchill, fighting off a last-ditch resistance by appeasers, made his confidence in the R.A.F's strengths the bulwark of his case for carrying on the war. (Searching for the remains of two early transatlantic pilots) This is testament to Churchill's remarkable openness, at the age of 65, to technical transformation: As a young man he had served in the army, and had then twice served as First Lord of the Admiralty, in 1911 and 1939, running the Royal Navy. But, as much as he loved Britain's imperial-scale navy, he understood in 1940, ahead of many others, that the island nation's last line of defense was now in the air. On June 18, 1940, in one of his greatest speeches, Churchill warned, 'The whole fury and might of the enemy must very soon be turned on us…if we fail, then the whole world, including the United States, will sink into the abyss of a new Dark Age.' Yet, if Britain prevailed, the world would say, 'This was their finest hour.' The battle engaged remarkably low numbers of men in combat, only a few hundred on each side, almost like medieval knights, each alone in a cockpit. When it was over, Churchill made the indelible tribute to his airmen: 'Never in the history of human conflict have so many owed so much to so few.' Victory in the air ended any chance of Hitler carrying out Operation Sea Lion, his planned invasion of Britain. And it finally laid bare the pernicious extent of the disinformation spread by Lindbergh—swallowed whole by many, including Ambassador Kennedy. Even then, Kennedy, a hardened isolationist, had learned nothing. Unmoved by the victory, he said, 'The British have had it. They can't stop the Germans and the best thing for them is to learn to live with them.' (Charles Lindbergh's wife was a record-breaking aviator in her own right) It's important to note that Lindbergh's crossing of the Atlantic in 1927 was an act of superb airmanship—particularly of navigation—but it did nothing to advance the science of aviation. His airplane, the Spirit of St. Louis, was a one-off bespoke model built for only one purpose: for one man to safely cross the Atlantic. It was not in any way a precursor. The science necessary to carry passengers safely across any ocean was an American achievement, developed mainly in a wind tunnel at Caltech in California, where two companies, Boeing and Douglas, created the first twin-engine all-metal airliners. In fact, the need for a larger, twin-engine airplane to cross oceans was foretold by two British military aviators, Captain John Alcock and Lieutenant Arthur Whitten Brown, who were the first to actually fly across the Atlantic, 1,890 miles, from Newfoundland to Ireland, in 1919, in a converted World War I bomber. They landed, unheralded, in a field and came to rest, nose down, in a bog, not like Lindbergh on a floodlit runway with the whole world listening on radio. As a result, to this day few people realize who was first. It will fall to President Donald Trump to decide how the nation will mark the centennial of Lindbergh's 1927 flight from Long Island, New York, to Paris. This will confront America with a challenging moral judgment: Can a legendary human endeavor ever be celebrated if the 'hero' turns out to have been so deeply flawed?
Yahoo
03-06-2025
- Business
- Yahoo
Q1 Rundown: L.B. Foster (NASDAQ:FSTR) Vs Other General Industrial Machinery Stocks
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let's take a look at how L.B. Foster (NASDAQ:FSTR) and the rest of the general industrial machinery stocks fared in Q1. Automation that increases efficiency and connected equipment that collects analyzable data have been trending, creating new demand for general industrial machinery companies. Those who innovate and create digitized solutions can spur sales and speed up replacement cycles, but all general industrial machinery companies are still at the whim of economic cycles. Consumer spending and interest rates, for example, can greatly impact the industrial production that drives demand for these companies' offerings. The 15 general industrial machinery stocks we track reported a mixed Q1. As a group, revenues missed analysts' consensus estimates by 1.5% while next quarter's revenue guidance was 1.5% below. In light of this news, share prices of the companies have held steady as they are up 3.1% on average since the latest earnings results. Founded with a $2,500 loan, L.B. Foster (NASDAQ:FSTR) is a provider of products and services for the transportation and energy infrastructure sectors, including rail products, construction materials, and coating solutions. L.B. Foster reported revenues of $97.79 million, down 21.3% year on year. This print fell short of analysts' expectations by 14.5%. Overall, it was a mixed quarter for the company with full-year EBITDA guidance exceeding analysts' expectations. John Kasel, President and Chief Executive Officer, commented, "As mentioned in our 2024 year end earnings announcement back in March, we started 2025 with first quarter sales and profitability down versus last year. This was due to an exceptionally-strong first quarter last year for our Rail segment. Within the segment, Rail Products sales declined $23.7 million, or 44.7%, due to lower Rail Distribution volumes. Infrastructure sales grew 5.0% over last year and expanded operating results in the quarter driven by a 33.7% increase in Precast Concrete sales. Focusing on what we can influence in the short term, we drove cost controls which resulted in an 8.4% reduction in operating expenses versus last year, partially mitigating the impact of lower gross profit from the Rail Distribution sales decline. We also stepped up our stock buybacks to 168,911 shares in the first quarter, or 1.5% of outstanding common stock." L.B. Foster pulled off the highest full-year guidance raise of the whole group. Still, the market seems discontent with the results. The stock is down 13.3% since reporting and currently trades at $18.98. Read our full report on L.B. Foster here, it's free. With its magnesium alloys used in the construction of the famous Spirit of St. Louis aircraft, Luxfer (NYSE:LXFR) offers specialized materials, components, and gas containment devices to various industries. Luxfer reported revenues of $97 million, up 8.5% year on year, outperforming analysts' expectations by 11.9%. The business had an incredible quarter with an impressive beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. Luxfer delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 13.3% since reporting. It currently trades at $11.32. Is now the time to buy Luxfer? Access our full analysis of the earnings results here, it's free. Founded in 1987, Icahn Enterprises (NASDAQ: IEP) is a diversified holding company primarily engaged in investment and asset management across various sectors. Icahn Enterprises reported revenues of $1.87 billion, down 24.6% year on year, falling short of analysts' expectations by 29%. It was a disappointing quarter as it posted a significant miss of analysts' EPS estimates. Icahn Enterprises delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 3.8% since the results and currently trades at $8.40. Read our full analysis of Icahn Enterprises's results here. Based in Connecticut, Crane (NYSE:CR) is a diversified manufacturer of engineered industrial products, including fluid handling, and aerospace technologies. Crane reported revenues of $557.6 million, up 9.3% year on year. This result surpassed analysts' expectations by 1.5%. It was a strong quarter as it also logged an impressive beat of analysts' organic revenue estimates and a decent beat of analysts' EPS estimates. The stock is up 15% since reporting and currently trades at $170.82. Read our full, actionable report on Crane here, it's free. Tracing back to its invention of the mechanical milk bottle filler in 1884, John Bean (NYSE:JBT) designs, manufactures, and sells equipment used for food processing and aviation. John Bean reported revenues of $854.1 million, up 118% year on year. This number topped analysts' expectations by 2.6%. Overall, it was a very strong quarter as it also put up a solid beat of analysts' EBITDA estimates and EPS guidance for next quarter exceeding analysts' expectations. John Bean scored the fastest revenue growth among its peers. The stock is up 5.3% since reporting and currently trades at $112.80. Read our full, actionable report on John Bean here, it's free. Thanks to the Fed's rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn't send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump's November win lit a fire under major indices and sent them to all-time highs. However, there's still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy. Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
Epoch Times
02-06-2025
- Epoch Times
When the Lone Eagle Became a Phoenix
On any average day this year, approximately A hundred years ago, that sky was empty of everything but clouds and birds. Though a few other aviators had flown across that ocean between Europe and North America—some had died in the attempt—Charles Lindbergh (1902–1974) boarded the Spirit of St. Louis in New York City on May 20, 1927 and landed less than 34 hours later in Paris. He completed the first solo, nonstop flight across the Atlantic. That
Yahoo
30-05-2025
- Business
- Yahoo
Q1 Earnings Roundup: Illinois Tool Works (NYSE:ITW) And The Rest Of The General Industrial Machinery Segment
Wrapping up Q1 earnings, we look at the numbers and key takeaways for the general industrial machinery stocks, including Illinois Tool Works (NYSE:ITW) and its peers. Automation that increases efficiency and connected equipment that collects analyzable data have been trending, creating new demand for general industrial machinery companies. Those who innovate and create digitized solutions can spur sales and speed up replacement cycles, but all general industrial machinery companies are still at the whim of economic cycles. Consumer spending and interest rates, for example, can greatly impact the industrial production that drives demand for these companies' offerings. The 15 general industrial machinery stocks we track reported a mixed Q1. As a group, revenues missed analysts' consensus estimates by 1.5% while next quarter's revenue guidance was 1.5% below. Thankfully, share prices of the companies have been resilient as they are up 5.1% on average since the latest earnings results. Founded by Byron Smith, an investor who held over 100 patents, Illinois Tool Works (NYSE:ITW) manufactures engineered components and specialized equipment for numerous industries. Illinois Tool Works reported revenues of $3.84 billion, down 3.4% year on year. This print was in line with analysts' expectations, but overall, it was a slower quarter for the company with a miss of analysts' adjusted operating income estimates. 'ITW commenced 2025 with solid execution, achieving financial results ahead of plan expectations as we continued to outperform underlying end markets,' said Christopher A. O'Herlihy, President and Chief Executive Officer. The stock is up 1.6% since reporting and currently trades at $245.73. Read our full report on Illinois Tool Works here, it's free. With its magnesium alloys used in the construction of the famous Spirit of St. Louis aircraft, Luxfer (NYSE:LXFR) offers specialized materials, components, and gas containment devices to various industries. Luxfer reported revenues of $97 million, up 8.5% year on year, outperforming analysts' expectations by 11.9%. The business had an incredible quarter with an impressive beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. Luxfer achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 12.6% since reporting. It currently trades at $11.25. Is now the time to buy Luxfer? Access our full analysis of the earnings results here, it's free. Founded in 1987, Icahn Enterprises (NASDAQ: IEP) is a diversified holding company primarily engaged in investment and asset management across various sectors. Icahn Enterprises reported revenues of $1.87 billion, down 24.6% year on year, falling short of analysts' expectations by 29%. It was a disappointing quarter as it posted a significant miss of analysts' EPS estimates. Icahn Enterprises delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 4% since the results and currently trades at $8.38. Read our full analysis of Icahn Enterprises's results here. Producers of the first asthma inhaler, 3M Company (NYSE:MMM) is a global conglomerate known for products in industries like healthcare, safety, electronics, and consumer goods. 3M reported revenues of $5.78 billion, down 3.9% year on year. This print beat analysts' expectations by 1.5%. Overall, it was a strong quarter as it also produced a solid beat of analysts' adjusted operating income estimates. The stock is up 18.1% since reporting and currently trades at $148.75. Read our full, actionable report on 3M here, it's free. Headquartered in Massachusetts, Kadant (NYSE:KAI) is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. Kadant reported revenues of $239.2 million, down 3.9% year on year. This number met analysts' expectations. Aside from that, it was a slower quarter as it produced full-year EPS guidance missing analysts' expectations. The stock is flat since reporting and currently trades at $317.32. Read our full, actionable report on Kadant here, it's free. The Fed's interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump's presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025. Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
General Industrial Machinery Stocks Q4 In Review: Columbus McKinnon (NASDAQ:CMCO) Vs Peers
As the Q4 earnings season comes to a close, it's time to take stock of this quarter's best and worst performers in the general industrial machinery industry, including Columbus McKinnon (NASDAQ:CMCO) and its peers. Automation that increases efficiency and connected equipment that collects analyzable data have been trending, creating new demand for general industrial machinery companies. Those who innovate and create digitized solutions can spur sales and speed up replacement cycles, but all general industrial machinery companies are still at the whim of economic cycles. Consumer spending and interest rates, for example, can greatly impact the industrial production that drives demand for these companies' offerings. The 15 general industrial machinery stocks we track reported a mixed Q4. As a group, revenues missed analysts' consensus estimates by 1.9% while next quarter's revenue guidance was 1.5% below. In light of this news, share prices of the companies have held steady as they are up 3.8% on average since the latest earnings results. With 19 different brands across the globe, Columbus McKinnon (NASDAQ:CMCO) offers material handling equipment for the construction, manufacturing, and transportation industries. Columbus McKinnon reported revenues of $234.1 million, down 7.9% year on year. This print fell short of analysts' expectations by 7%. Overall, it was a disappointing quarter for the company with a significant miss of analysts' EBITDA and EPS estimates. "The second half of our third quarter saw a slowing of industry demand. This was driven by delayed customer decision-making related to U.S. policy uncertainty, including tariffs as well as continued weakening in the European economies," said David J. Wilson, President and Chief Executive Officer. The stock is down 50.5% since reporting and currently trades at $17.55. Read our full report on Columbus McKinnon here, it's free. With its magnesium alloys used in the construction of the famous Spirit of St. Louis aircraft, Luxfer (NYSE:LXFR) offers specialized materials, components, and gas containment devices to various industries. Luxfer reported revenues of $97 million, up 8.5% year on year, outperforming analysts' expectations by 11.9%. The business had an incredible quarter with a solid beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates. Luxfer delivered the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 17.5% since reporting. It currently trades at $11.74. Is now the time to buy Luxfer? Access our full analysis of the earnings results here, it's free. Founded in 1987, Icahn Enterprises (NASDAQ: IEP) is a diversified holding company primarily engaged in investment and asset management across various sectors. Icahn Enterprises reported revenues of $1.87 billion, down 24.6% year on year, falling short of analysts' expectations by 29%. It was a disappointing quarter as it posted a significant miss of analysts' EPS estimates. Icahn Enterprises delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 1.2% since the results and currently trades at $8.62. Read our full analysis of Icahn Enterprises's results here. Tracing back to its invention of the mechanical milk bottle filler in 1884, John Bean (NYSE:JBT) designs, manufactures, and sells equipment used for food processing and aviation. John Bean reported revenues of $854.1 million, up 118% year on year. This number surpassed analysts' expectations by 2.6%. It was a very strong quarter as it also produced an impressive beat of analysts' EBITDA estimates and EPS guidance for next quarter exceeding analysts' expectations. John Bean achieved the fastest revenue growth among its peers. The stock is up 10.5% since reporting and currently trades at $118.35. Read our full, actionable report on John Bean here, it's free. Founded in 1895, Albany (NYSE:AIN) is a global textiles and materials processing company, specializing in machine clothing for paper mills and engineered composite structures for aerospace and other industries. Albany reported revenues of $288.8 million, down 7.8% year on year. This result came in 1.8% below analysts' expectations. Overall, it was a slower quarter as it also logged a significant miss of analysts' adjusted operating income estimates and full-year revenue guidance slightly missing analysts' expectations. The stock is up 2.9% since reporting and currently trades at $67.50. Read our full, actionable report on Albany here, it's free. In response to the Fed's rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed's 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump's presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025. Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. 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