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☆ Homeless spending audit gives a blueprint for what needs to be done going forward: CA Sen. Cortese
▼ + stars: | 2024-04-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHomeless spending audit gives a blueprint for what needs to be done going forward: CA Sen. CorteseHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: CA Sen, Cortese, Brian Sullivan, “ Organizations: CNBC

☆ Cruise's recall means trouble for driverless car companies
▼ + stars: | 2023-11-11 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Cruise recalled its entire driverless car fleet after they were banned in California following a fatality. Now other driverless car companies are facing questions over the safety of their vehicles. AdvertisementAdvertisementCruise's robotaxi rollout in San Francisco has turned into a fiasco , with the driverless car firm facing growing questions over just how safe its vehicles really are . A self-driving Waymo car in San Francisco. AdvertisementAdvertisementCruise's recall has sparked renewed scrutiny of the decision to allow the driverless car company and its rival Waymo to operate their robotaxi services in San Francisco 24/7 .

Persons: Cruise, —, Pete Buttigieg, Sen, David Cortese, Gavin Jackson, Jackson, Waymo Organizations: Service, Google, Getty Locations: California, San Francisco, Phoenix, Austin, Los Angeles

☆ Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company
▼ + stars: | 2023-09-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company and will be replaced by longtime Silicon Valley veteran Nick Caldwell, the company announced Tuesday. Cortese, who helped found the connected fitness company alongside former CEO John Foley in 2012, will move into an advisory role beginning Nov. 1, the company said. He'll oversee global product development and will start the new role Nov. 1. "I want to thank Tom for his tireless dedication since launching Peloton nearly 12 years ago as a Co-Founder of the business. "Nick brings impressive engineering, design, and product experience to the Peloton team.

Persons: Tom Cortese, Nick Caldwell, Cortese, John Foley, " Cortese, I'm, Caldwell, He'll, Tom, Barry McCarthy, Nick Organizations: Silicon, Twitter, Google, Microsoft

☆ Here's what it would take to restore the rusted remains of a 1954 Ferrari purchased for $2 million to its glory days
▼ + stars: | 2023-08-20 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Scraps of a rare 1954 Ferrari 500 Mondial Spider Series I were just sold for about $1.9 million. The buyer could end up investing another $2 million just to restore the car, a Ferrari expert said. In "very good condition," the model can be worth up to $4 million to $5.5 million, the expert said. The remnants of a Ferrari 500 Mondial Spider Series I were recently sold at RM Sotheby's auction for about $1.9 million, and it may take another $2 million just to restore the car to its glory racing days, a Ferrari historian told Insider. "A Ferrari 500 Mondial Spider Pinin Farina in restored or at least very good condition is currently in the wide range between $4M and $5.5M," Birner wrote.

Persons: Pinin Farina, Franco Cortese, Cortese, Walter Medlin, Sotheby's, What's, Andreas Birner, Birner, Ferrari's, Ferrari, … Organizations: Morning, RM, Pininfarina, Ferrari, Mondial, Mille, Sotheby's, Ferraris, New York Times, The Times Locations: Italian, Italy, Maranello

☆ Someone just paid almost $2 million for the rusted shell of a 1954 Ferrari
▼ + stars: | 2023-08-19 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

The rusted shell of a Ferrari race car was sold for about $1.9 million to an undisclosed buyer. It was once part of a rare 1954 Ferrari 500 Mondial Spider Series I, one of only 13 ever made. It was being sold alongside 19 other Ferraris that had sat in a barn for 45 years. The rusted shell of an old Ferrari recently sold at a Sotheby's auction for almost $1.9 million. The dented lump of metal may not look like much now, but it was once a 1954 Ferrari 500 Mondial Spider Series I, the second of just 13 that were made.

Persons: Franco Cortese, Walter Medlin, Medlin, Autoweek, Tom Cotter, Sotheby's Organizations: Morning, Ferrari, Toscana, Monterey Car Locations: Florida

☆ This twisted hunk of metal that used to be a Ferrari just sold for $1.TK million
▼ + stars: | 2023-08-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —A hulk of dented, torn and scorched metal that was, decades ago, a Ferrari race car just sold at an RM Sotheby’s auction in California for $1.9 million. One of only 13 made, this 1954 Ferrari Mondial Spider Series I wasn’t one of Ferrari’s fabled V12 models but a an entirely different design. This car, a different 1954 Ferrari 500 Mondial Pinin Farina Spider, was offered for sale on the auction site Bring A Trailer in September, 2021. The most expensive Ferrari ever sold at auction was the 1962 Ferrari 250 GTO, which was also on the block at RM Sotheby’s. The price includes the RM auction house commission, and the buyer is undisclosed.

Persons: it’s, Ferrari, Pinin Farina, Franco Cortese, Pinin Farina Spider, Walter Medlin, Brian Rabold, drivable, Rabold, ” Rabold Organizations: CNN, Ferrari, Pininfarina, Ferrari Mondial Spiders Locations: dented, California, Scaglietti, United States

☆ A California state senator is calling for a labor investigation into $12B HR startup Deel over 'brazen employment misclassification' after Insider's reporting
▼ + stars: | 2023-07-06 | by ( Rob Price | ) www.businessinsider.com time to read: +6 min

$12 billion HR startup Deel is facing calls for a California Secretary of Labor investigation. Multiple California state senators criticized Deel for misclassifying workers, citing reporting from Insider. The company is heavily reliant on independent contractors, Insider previously reported. A California senator is calling for the state's Secretary of Labor to investigate Deel, a buzzy San Francisco-based HR startup valued $12 billion, over "brazen employment misclassification." 17 current or former Deel workers had told Insider in March that they had concerns the company may be misclassifying contract workers' employment status.

Persons: Deel, Stewart Knox, Stephen Padilla, Andreessen Horowitz, Emerson, Alex Bouaziz, Padilla, Dave Cortese, María Elena Durazo, We've, Thomas Lenz Organizations: Labor, Morning, Labor and Workforce Development Agency, Contractors, Senate Labor, Public, Global Employment, University of Southern California Gould School of Law Locations: California, San Francisco, Canada, Australia, France, Germany, Spain, Greece, Brazil, Turkey, India, Pakistan, Hong Kong, Singapore, Philippines, Nigeria

☆ California is about to give Hollywood studios a lucrative tax deal during the writers’ strike
▼ + stars: | 2023-06-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +6 min

CNN —The state of California is about to give movie and TV studios a new lucrative tax perk. The new, refundable tax credits come as competition for film and TV production from other states and countries is on the rise. In a 2020 SEC filing, Netflix said it had $250 million in California R&D tax credits — far more than it could use. In addition to refundable tax credits and stricter safety standards, the bill establishes specific diversity requirements. The bill also adds a new member to the state’s film commission with diversity, equity, and inclusion expertise.

Persons: Gavin Newsom’s, Newsom, Alec Baldwin’s, Wendy Carrillo, ‘ Rust, Dave Cortese, Baldwin, Halyna Hutchins, ” Cortese, Carrillo, ”, Chris Hoene, that’s, Hoene, ” Carrillo, “ Organizations: CNN, Netflix, SEC, Disney, Comcast’s Universal Studios, Democratic, Warner Bros, Warner Bros ., Hollywood, Guild of America, SAG, WGA, California Budget, Policy Center Locations: California, States, New York, Georgia, Angeles County, Los Angeles

☆ Should I Choose My Home State’s 529?
▼ + stars: | 2023-05-26 | by ( ) www.wsj.com time to read: +5 min

Why your home state’s 529 can make senseThere are several reasons college savers usually prefer to use their home state’s 529 plan. What to know about Pennsylvania’s 529Pennsylvania’s 529, known as the PA 529 College and Career Savings Program, is quite good by all accounts. A big reason: Pennsylvania residents who fund the in-state 529 plan are eligible for a number of valuable benefits through the state’s SAGE Scholar Program, which aims to help Pennsylvania families afford higher education. The program lets participants earn points that translate into an annual reward of up to 10% on the account value of your Pennsylvania 529. But don’t sweat it if you can’t contribute as much as you’d like to your child’s 529 plan every year.

☆ Peloton aims to rebrand as a fitness company for all with focus on app, tiered subscription pricing
▼ + stars: | 2023-05-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +7 min

The ad solidified Peloton's nascent identity as a high-end bike company reserved for a certain type of person at a certain income level. "This company historically has been thought of as an in-home bike company for fitness enthusiasts but over the years, it has evolved into something that is much more bigger, much broader than that." The relaunch includes a "Gym" function that allows users to take Peloton's app into the gym with them and create custom workouts. 2 among those who have Peloton hardware. It shows how eager users are to consume Peloton content that has nothing to do with its equipment.

Meanwhile, the Democratic Party, which long championed campaign finance reform, got so good at the game that it used more dark money than Republicans during the 2020 presidential campaign. He was also charged with campaign finance violations, allegedly using "straw donors" to circumvent contribution limits by giving money to allies who would then donate to politicians in their own names. There have been no campaign finance bills introduced in the new Congress, no new policies from regulators and barely even any discussion about reform. But I’m not so surprised," said Sheila Krumholz, the executive director of OpenSecrets, which tracks political donations, of Bankman-Fried’s use of the campaign finance system. "This is yet another example of how lax campaign finance rules allow someone with money to throw their weight around and build influence and maybe it is not gaining traction because it’s just one of many stories like this."

☆ Peloton co-founder John Foley launches business selling custom rugs directly to consumers
▼ + stars: | 2022-11-07 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +3 min

Peloton co-founders are starting Ernesta, a direct-to-consumer business selling custom rugs. The business is launching in spring 2023 and entering a global market anticipated to reach $130 billion by 2030. The company will be entering a global carpets and rugs market anticipated to reach $130 billion by 2030. Foley is Ernesta's CEO, with fellow Peloton founders Hisao Kushi serving as chief legal officer and Yony Feng as chief technology officer. He relinquished his executive chairman title in September, following months of controversy and reduced global demand at the beleaguered company.

☆ How Peloton went from a pandemic-era success story worth $50 billion to laying off more than 4,000 workers and losing 3 top execs in a month
▼ + stars: | 2022-09-26 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +14 min

Peloton's stock has been trading well below the IPO price of $29 per share, at one point dropping as low as $8.22. Prior to founding Peloton, Foley was president at Barnes & Noble, overseeing its e-commerce business. "I would say that it took about five years for the really smart money to start getting involved," Foley told Insider in 2018. The ad, featuring a woman whose husband gifts her a Peloton bike for Christmas, was viewed as being sexist and playing into outdated standards of beauty. Public outrage over the ad sent Peloton's stock plunging 9%, wiping out $942 million in market value in a single day.

☆ How Peloton went from a pandemic-era success story worth $50 billion to laying off more than 4,000 workers and losing 4 top execs in a month
▼ + stars: | 2022-09-26 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +14 min

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