Eric D. Lawrence Detroit Free Press Published 11:13 p.m. UTC Jun 27, 2018 Could a used car be in your future? It may be a possibility for some car shoppers as they get squeezed by economic factors in coming months, according to a midyear review of the auto industry Wednesday in Detroit by Cox Automotive. Although the economy remains strong, with low unemployment, a healthy stock market and solid consumer confidence, finding a new vehicle that fits a need for affordability could be tough, the analysts said. Charlie Chesbrough, Cox Automotive senior economist, cited several issues that could push consumers to embrace used cars. For instance, a flood of off-lease vehicles is expected to peak next year at about 4.1 million from 2.2 million in 2014, and automakers are no longer targeting the under-$20,000 vehicle segment, meaning new vehicles have been getting pricier. Wages are going up but not enough to offset other factors, such as the increase in gas prices. … [Read more...] about In the market for a used car? Tariff talks might benefit you
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Susan Selasky Detroit Free Press Published 10:36 p.m. UTC Jun 14, 2018 Several years ago, Ken Koehler knew that changes were coming to Mexicantown in Detroit when he started seeing more and more people on bicycles riding up and down Bagley. The co-owner of Honey Bee Market at 16th Street and Bagley "never imagined" the biggest change maker would be Ford. “It’s great that Ford is making its presence in the city — the Motor City," Koehler said Wednesday of news the automaker had purchased the long-vacant Michigan Central Station in neighboring Corktown. The station's former owners, the Moroun family, announced the sale Monday. From Honey Bee's parking lot, the Michigan Central Station is in nearly full view. Koehler, who with his wife Tammy (Tomasita) Alfaro-Koehler owns the market, added that he couldn’t be more excited and thinks Ford's buying the train station will have … [Read more...] about Honey Bee Market in Mexicantown welcomes Ford to the neighborhood
Jamie LaReau Detroit Free Press Published 12:34 p.m. UTC May 31, 2018 General Motors and the SoftBank Vision Fund are teaming up to invest in GM Cruise to bring self-driving vehicles to market by next year, the company said Thursday. SoftBank is a large technology investment company with stakes in such companies as Uber. It will invest $2.25 billion in GM Cruise Holdings, and GM will invest $1.1 billion in GM Cruise, its self-driving arm, when the transaction closes at the end of June, the company said. “Our Cruise and GM teams together have made tremendous progress over the last two years,” GM Chairman and CEO Mary Barra said in a news release. “Teaming up with SoftBank adds an additional strong partner as we pursue our vision of zero crashes, zero emissions and zero congestion.” More: Higher interest rates, gas prices could slow May new car sales More: Detroit area's cutting edge center for self-driving autos is set to open GM's stock was up 7.5% to … [Read more...] about GM’s self-driving car unit to get $3.35B investment, plans to bring vehicles to market next year
COLUMBIA, S.C. – McCallister Precision Marketing has announced a multi-year agreement with California’s Madera Speedway. The agreement makes McCallister Precision Marketing the official motorsports marketing company of Madera Speedway as well as a premier sponsor of the third-mile semi-banked asphalt oval located in Madera, Calif. Owned by Tonya McCallister, McCallister Precision Marketing assists racing teams and drivers by providing them with quality customer service and marketing opportunities that will not only allow them to compete in the fast growing sport of racing, but to stay a lap ahead of the competition. As part of the partnership one of the top-five drivers in points from Madera’s MAVTV-televised 51FIFTY Energy Drink Jr. Late Model Series, which features racers between the ages of 10 to 16 racing full sized late models, will be randomly selected to receive a Premier Marketing Package from McCallister Precision Marketing. The Premier … [Read more...] about Madera Speedway Teams With McCallister Precision Marketing
By Peter M. DeLorenzo Detroit. Depending on one’s point of view, last week’s column either praised the Ford executive team for making a market-driven decision to reduce the number of its car nameplates, or slammed Ford for abandoning the car market. Though I took pains to present the rationale behind both sides of the decision, the more I’ve thought about it, the more it became very clear to me that Ford – at least certain Ford executives – have lost their frickin’ minds for walking away from the car market, especially with its very competitive Fusion. I should point out that there is much more to this story (there always is), and it should also serve as a reminder of why you come here in the first place, which is to get the nitty-gritty insider stories of this business that you can’t find anywhere else. But before I get into that, Ford in Free Fall? Come on! How can that be? Isn’t this the … [Read more...] about FORD IN FREE FALL.
Tesla Inc Chief Executive Elon Musk's refusal to take questions from analysts about the electric car maker's financial condition drew sharp criticism from Wall Street analysts and investors on Thursday, pushing its stock down further. In a conference call on Wednesday, Musk refused to answer questions from analysts on Tesla's capital requirements, saying "boring questions are not cool." Cowen analyst Jeffrey Osborne dubbed Wednesday's call, in which Musk talked of "barnacles, flufferbots, and bonehead bears," surreal. Morgan Stanley's Adam Jonas said it was the most unusual call he had heard in 20 years in the business. At least three brokerages lowered their price targets on the stock. Of 27 brokerages covering the stock, nine have a "buy" or higher rating, 10 "hold" and eight have "sell" or lower. "Tesla refused to address analyst questions on capex, cash burn and other 'boring bonehead questions,'" Osborne said. The call came after Tesla forecast a reduction of capital expenses for … [Read more...] about Tesla stock takes hit after Elon Musk snubs analysts’ ‘boring questions’
The Timonium home of Ravens safety Tony Jefferson recently went up for sale for $979,900. Meanwhile, two other Baltimore athletes — Cal Ripken Jr. and Ray Lewis — have taken their homes off the market.Jefferson’s home, located at 2205 Dulaney View Court, has five bedrooms and 5½ bathrooms, according to a listing by Compass agent Jordan Stuart.The house is nestled at the end of a cul-de-sac in a private Dulaney View community, according to the listing. The approximately 6,000-square-foot home was constructed just last year.According to Maryland property tax records, Jefferson bought the home for $995,990 in April. He’s under contract with the Ravens for three more seasons.Jefferson isn’t the only athlete to put a home on the market in the area recently.Former Ravens linebacker Lewis and Orioles Hall of Famer Ripken listed their homes last year. Lewis and Ripken had homes just one house apart in Baltimore County.But neither sold.Lewis’ home … [Read more...] about Ravens safety Tony Jefferson’s Timonium home is for sale; Cal Ripken and Ray Lewis take homes off market
In advance of its split into two publicly traded companies on Wednesday, W.R. Grace & Co.'s stock has dropped more than 20 percent since the end of 2015. The spinoff will split Grace's construction products business into a company called GCP Applied Technologies Inc., that will be headquarted in Cambridge, Mass. Grace's silica and catalyst businesses will retain the W.R. Grace name and remain headquarted in Columbia. Company officials pitched the spinoff as a way to help the disparate businesses simplify operating structures and enhance focus, while boosting value for shareholders. When the split was announced a year ago, the company's stock shot up 12 percent in a day.But since Dec. 31, Grace's stock has dropped from $99.59 per share, hitting a low of $78.45 on Jan. 29. Shares bounced back a little Monday to close at $82.60.After the split, Grace is expected to have $1.7 billion in annual sales, while GCP is expected to have $1.4 billion in annual sales. The tax-free spinoff comes … [Read more...] about W.R. Grace’s stock slides in advance of split this week
Joel Bein pulled his Rub food truck into the Cherry Street Farmers Market area around 5 a.m. on those Saturdays last year when he was scheduled to fill in for regulars who couldn’t be there.“I was always pumped when I woke up in the morning to go to the market,” Bein said. “Because of the size of my trailer, I had to be one of the first ones there to move into my spot.“Before the market opened at 7, I could go around and see what was fresh and looked good and get the first pick of the stuff. I could see who had onions, who had tomatoes and who had jalapenos, then make my salsa fresh that morning. It’s fun to make up stuff on the spot.”Bein said he usually filled in for Teri Fermo and her Bohemia food truck. After 12 years participating in Cherry Street Farmers Market, Fermo will be preparing to-go brunches from 11:30 a.m. to 1 p.m. Saturdays at her Bohemia: Moveable Feast Caterers shop, 3309 S. Harvard Ave.So, Rub, whose specialty is smoked … [Read more...] about Farmers markets open for the season, Rub food truck comes truckin’ into Cherry Street Farmers Market full time
President Donald Trump instructed the U.S. trade representative to consider slapping an additional $100 billion in tariffs on Chinese goods Thursday in a dramatic escalation of the trade dispute between the two countries.Trump's surprise move came a day after Beijing announced plans to tax $50 billion in American products, including soybeans and small aircraft, in response to a U.S. move earlier this week to slap tariffs on $50 billion in Chinese imports.And it intensified what was already shaping up to be the biggest trade battle since World War II. Global financial markets had fallen sharply as the world's two biggest economies squared off over Beijing's aggressive trade tactics. But they had calmed down Wednesday and Thursday on hopes the U.S. and China would find a diplomatic solution.Instead, the White House announced after the markets closed Thursday that Trump had instructed the Office of the United States Trade Representative to consider whether $100 billion of additional … [Read more...] about Trump order: Escalate biggest trade war threat since WWII. Stocks had started recovery, now what?