Global ePoint boosted by proposed mandate for cameras on planes.Don't say "rollercoaster" around shareholders of City of Industry-based Global ePoint Inc. The ride has been head-jerking, and a new rule proposed by the Federal Aviation Administration Federal Aviation Administration (FAA), component of the U.S. Department of Transportation that sets standards for the air-worthiness of all civilian aircraft, inspects and licenses them, and regulates civilian and military air traffic through its air traffic control caused another sudden jolt. At least it's an upward one. Last week, the FAA proposed mandatory security cameras on commercial airplanes, and named Global ePoint as one of three companies that are certified See certification. to supply the systems. The stock surged nearly 20 percent to $5.42 per share, though the FAA's announcement was just the beginning of the process. The proposal has to go through a 60-day public comment period before it can become a rule. In July, shares tripled in one day when the company got mentioned on CNBC's "Mad Money." That caused the planned acquisition of City of Industry-based Astrophysics astrophysics, application of the theories and methods of physics to the study of stellar structure, stellar evolution, the origin of the solar system, and related problems of cosmology. Inc. to fall apart, because Global ePoint's higher stock price suddenly made the cash-and-stock deal more expensive. Analysts were dismayed that Astrophysics, a maker of airport X-ray X-ray Electromagnetic radiation of extremely short wavelength (100 nanometres to 0.001 nanometre) produced by the deceleration of charged particles or the transitions of electrons in atoms. products, got away, and the stock fell again. "Mad Money's" Jim Cramer This article is about the television personality and host of Mad Money. For the champion Scrabble player, see Jim Kramer. James J. "Jim" Cramer (b. told viewers to sell. But since then, Global ePoint has announced more than $10 million in new aircraft contracts, and the proposed FAA rule bolsters its existing business. Global ePoint's AirWorks Division has an 88 percent share of the aircraft surveillance market in Germany, where a similar rule exists. As for the possible merger with Astrophysics, talks are still stalled stall 1 n. 1. A compartment for one domestic animal in a barn or shed. 2. a. A booth, cubicle, or stand used by a vendor, as at a market. b. . Staff Reporter Hilary Potkewitz can be reached at (323) 549-5225 ext. 226 or by e-mail at hpotkewitz@labusinessjournal.com. |
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