William Katz:  Urgent Agenda

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THE OLD CHINESE SATELLITE GAME – AT 10:03 A.M. ET:  The press continues to milk the missing airliner story.  Each night we are treated to still more panels who have no more information than viewers do.  I guess the ratings are holding.

The latest story is that a Chinese satellite has picked up a chunk of...something.  From Fox: 

A Chinese satellite has spotted a large object along a broad stretch of ocean where officials hope to find a Malaysia Airlines plane that has been missing for more than two weeks, Malaysia's defense minister said Saturday.

Please note that earlier in this tragic story the Chinese also reported satellite images of wreckage that turned out to be false.  I'd be careful.

Hishammuddin Hussein told reporters that he had been informed that a Chinese satellite had spotted an object 74 feet by 43 feet.

Awfully big for a piece of aircraft wreckage, unless the plane hit the water while gliding in from a low altitude. 

He said, "The news that I just received is that the Chinese ambassador received a satellite image of a floating object in the southern corridor and they will be sending ships to verify."

He said he had no other information and that China would release further details. It was not immediately clear whether the object was seen near where another satellite found two objects earlier this week.

Meanwhile, NASA said Friday it is stepping up its support for a multinational search in the remote southern Indian Ocean for possible debris from Malaysia Airlines Flight 370.

The agency joined the search last week, sending data to the U.S. Geological Survey's Earth Resources Observations and Science Hazard Data Distribution System, which facilitates the sharing of information when the International Charter on Space and Major Disasters is activated.

COMMENT:  We wait and see.  There is an enormous search going on right now, but I wonder if we'll ever actually find the plane. 

March 22,  2014