Wealthy Chinese snapping up US commercial property

For those of you hiding under a rock the past few years, wealthy Chinese investors have been ramping up their purchases of US real estate, reported the Wall Street Journal on Tuesday.

After a five-year spending spree, the Chinese have knocked the Canadians from first place to become the top foreign buyers of US houses and apartments for the 12 months to March, according to the National Association of Realtors. Continue reading

Spy Plane Fries Air Traffic Control Computers, Shuts Down LAX

On Wednesday at about 2 p.m., according to sources, a U-2 spy plane, the same type of aircraft that flew high-altitude spy missions over Russia 50 years ago, passed through the airspace monitored by the L.A. Air Route Traffic Control Center in Palmdale, Ca. The L.A. Center handles landings and departures at the region’s major airports, including Los Angeles International (LAX), San Diego and Las Vegas.

The computers at the L.A. Center are programmed to keep commercial airliners and other aircraft from colliding with each other. The U-2 was flying at 60,000 feet, but the computers were attempting to keep it from colliding with planes that were actually miles beneath it.

Though the exact technical causes are not known, the spy plane’s altitude and route apparently overloaded a computer system called ERAM, which generates display data for air-traffic controllers. Back-up computer systems also failed. Continue reading