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The
Federal Aviation Administration released new rules on commercial drone
usage, but you shouldn't expect your drone-delivered Amazon package
anytime soon.
The FAA set limits on a drone's speed, altitude
and weight, but the part getting the most attention is the one requiring
any unmanned aircraft to be within sight of its operator or a spotter.
That
rule is a huge blow to the dream of drone delivery services. If you’re
close enough to see the drone deliver a package, you might as well just
take it to the door yourself and save on the cost of buying a drone.
The CEO
of drone consulting firm Aerotas said: "Delivery is definitely getting
left out in the cold with these rules. All of the long-distance stuff
will clearly still have to wait."
But it may not have to wait for
long. Experts predict that once the FAA is comfortable with the
technology it will give companies more room to use drones over long
distances.
An FAA administrator said the new rules are "just our
first step. We’re already working on additional rules that will expand
the range of operations."
When the rules go into effect in
August, the roughly 7,000 companies that are waiting for government
approval will be able to use drones to help them do business, as long as
they keep an eye on them.
This video includes clips from Amazon and The Verge and images from Getty Images.
Newsy
is your source for concise, unbiased video news and analysis covering
the top stories from around the world. With persistent curiosity and no
agenda, we strive to fuel meaningful conversations by highlighting
multiple sides of every story. Newsy delivers the news and perspective
you need without the hype and bias common to many news sources.
Attorney
General Loretta Lynch says health care fraud sweeps across the country
have led to charges against 300 people including doctors, nurses,
physical therapists and home health care providers accused of bilking
Medicare and Medicaid. (June 22)
A
new dating app is using AI and curation in the hopes of finding singles
love. But if it wants to succeed, it will have tough competition
against the likes of Match.com and Tinder. CNBC's Phil Han reports.
The
current low-yield, high-volatility market is making preferred stocks
all-the-more attractive, said Ben Fulton, CEO of Elkhorn Investments.
Fulton launched the Elkhorn S&P High Quality Preferred ETF last
month. The EPRF is based on the S&P U.S. High Quality Preferred
Stock Index, which selects fixed-rate investment grade preferred issues
(BBB- or higher) from U.S. listed preferred stocks and maintains an
allocation of 75% to cumulative preferreds. 'This is a way for people to
take risk off in a preferred portfolio,' said Fulton. 'There was no
investment grade only preferred exposure in the ETF space so we are
delighted to bring this.' In general, preferred stock is a class of
equity security that pays a specified dividend that must be paid before
any dividends can be paid to common stockholders, and which takes
precedence over common stock in the event of the company's liquidation.
Although preferred stocks represent a partial ownership interest in a
company, preferred stocks generally do not carry voting rights and have
economic characteristics similar to fixed-income securities. Preferred
stocks generally are issued with a fixed par value and pay dividends
based on a percentage of that par value at a fixed or variable rate.
Additionally, preferred stocks often have a liquidation value that
generally equals the original purchase price of the preferred stock at
the date of issuance. 'We have not distributed yet, but we are
anticipating a 5.5% to 6% type of yield,' said Fulton. Unlike most
preferred stock funds which hold predominantly bank issues, the EPRF has
a very large REIT allocation, holding preferreds from the likes of
Kimco , Boston Properties and Public Storage . 'REITs have a very good
history of paying because they want to come back to the market,' said
Fulton. 'They have to pay back the preferred holders both past dividends
and future. That's why they tend to have a higher credit rating in the
marketplace.'
