New Oak Ridge National Laboratory director named and other business news

Stephen K. Streiffer

Streiffer to head ORNL laboratory

Stephen K. Streiffer, the director of the SLAC National Accelerator Laboratory at Stanford University, has been picked to be the next director of Oak Ridge National Laboratory.

He succeeds Thomas Zaccharia, who retired as head of the Department of Energy lab in Oak Ridge at the end of 2022.

"Stephen is a proven leader with diverse experience and a commitment to mission-driven research and development," said Lou Von Thaer, CEO of Battelle and chair of UT-Battelle, which operates Oak Ridge National Laboratory for the U.S. Department of Energy. "Throughout his career, Stephen has leveraged existing strengths to create new opportunities and partnerships that strengthen our nation's ability to innovate and compete."

Before his current role, Streiffer spent 24 years in research and leadership positions at Argonne National Laboratory in DuPage County, Illinois, concluding his tenure as the lab's deputy director for science and technology. Streiffer earned his doctorate in materials science and engineering from Stanford University and a bachelor's in materials science from Rice University. He is a fellow of the American Physical Society and a member of the Materials Research Society and Institute of Electrical and Electronics Engineers.

"Through my roles with Office of Science programs and user facilities, I've collaborated with ORNL and its extremely talented staff for many years," Streiffer said in a statement Thursday. "It's a great honor to be selected as lab director and to join the team, and I'm committed to continuing the transformative role Oak Ridge has played in our nation's scientific enterprise for almost 80 years."

Wynn pays $10 million over misconduct claim

Casino mogul Steve Wynn is ending a long legal fight with Nevada gambling regulators over claims of workplace sexual misconduct by paying a $10 million fine.

The Nevada Gaming Commission accepted a settlement Thursday that calls for Wynn to cut ties to the industry he helped shape in Las Vegas. Wynn admits no wrongdoing.

He's now 81 and lives in Florida. He didn't attend the hearing in person. His attorney said Wynn is grateful to close the matter and looks forward to moving on to other phases of his life.

Southwest sales hit record high

Southwest Airlines is reporting a $683 million profit for the second quarter, and revenue is a quarterly record as planes are packed during the peak summer travel season.

The financial results reported Thursday were in line with Wall Street expectations. But the airline is warning that a key revenue ratio will fall in the third quarter, and it also faces higher labor costs as it negotiates new contracts with unions.

In afternoon trading, Southwest shares were having one of their worst days in more than three years.

— Compiled by Dave Flessner