VICKSBURG, Miss. -
The Mississippi River is the lowest it’s been in Vicksburg since 1988. The drought has dropped the river 10 feet since Sept. 1.
Crews from ships traveling the Mississippi River are being shuttled on shore. The job of ship navigation is getting more difficult, they said.
“It is really rough, a bunch of low spots,” said chief engineer Jaquatte Deavens. “It is kind of an all-hands-on thing ... you have really got to watch out and prepare for grounding at any time.”
The U.S. Army Corps of Engineers has dredging up and down the waterway trying to remove dangerous spots that are becoming more visible at bends of the river.
Draft restrictions, load restriction are in place by the Coast Guard and "self-imposed by the industry,” said Drew Smith, with the U.S. Army Corps of Engineers.
That impact is being felt at the Port of Vicksburg, where they are down to using one dock because the water is too low. The financial impact could be in the millions.
They're not alone.
Ports to the north are asking if they can move things down river to Vicksburg because those ports are being affected initially, according to Warren County Port Commission Executive Director Pablo Diaz.
The Corps of Engineers is hoping for rain in the north soon, but what happens in areas like the Ohio Valley takes weeks for the water to reach downriver in Vicksburg. Mississippi Skies: Rain shows up in our weather forecast. When will it arrive? - Magnolia State Live | Magnolia State Live
(WAPT 10/24/23) Mississippi River so low that ship crews have to work to avoid grounding out (wapt.com)
RTX rallies after adjusted earnings
RTX Corp. stock was up 8% in premarket trades on Oct. 24 after the defense contractor’s adjusted profit beat analyst estimates. It launched an accelerated stock buyback program and sold its cybersecurity, intelligence and services business for $1.3B to a non-designated buyer.
RTX (formerly Raytheon) swung to a 3Q loss due to repair costs of $1.53 a share from microscopic contaminants found in Pratt & Whitney turbines and other one-time expenses.
The defense contractor said it lost $984 million in the third quarter, or 68 cents a share. Adjusted 3Q profit at RTX totaled $1.25 a share.
Revenue dropped 21%, including a charge of $5.4B related to the previously disclosed Pratt powder metal matter. Analysts expected revenue of just under $18.6B.
RTX said its board has approved a $10B accelerated share repurchase program “almost immediately.” (Market Watch 10/24/23) RTX stock rallies after adjusted earnings beat Wall Street estimate (msn.com)
Regional Note: Raytheon, an RTX business, broke ground in September on a 17,000-square-foot expansion of its Consolidated Manufacturing Center in Forest, Miss., to serve as a hub for the production, test and integration of Next Generation Jammer Mid-Band pods for the U.S. Navy and Australian government, as well as airborne radar programs. RTX expands high-tech manufacturing footprint in Mississippi | Mighty Mississippi
Senate confirms Whitaker to lead FAA
The Senate confirmed White House nominee Michael Whitaker as the new FAA Administrator in a vote on Oct. 24. Whitaker breezed through the confirmation process without the rancor and finger-pointing that marked the grueling questioning that previous nominee Phil Washington endured. Aviation groups were quick to endorse the appointment. (AvNews 10/24/23) Whitaker Confirmed As FAA Chief - AVweb
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