DIRS.INFO The most relevant business & tech news

☆ Despite East Palestine toxic train disaster, railroads still want single-person crews
▼ + stars: | 2023-03-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The rail safety legislation, introduced in Congress Wednesday with bipartisan support, would include a prohibition on single-person crews. There is no such existing law or federal regulation requiring both an engineer and a conductor to be on a train. The Association of American Railroads confirmed that its position in favor of one-person crews has not changed. “No data shows a two-person crew confined to a cab is safer, and train crew size should continue to be determined through collective bargaining,” a statement from UP. But it might have one or two provisions which are deal breakers for the unions, such as allowing single-person crews.

☆ The 20-Somethings Fueling a Stick-Shift Renaissance
▼ + stars: | 2023-03-01 | by ( Rachel Wolfe | ) www.wsj.com time to read: 1 min

Stick shift loyalists aren’t taking the electric-car revolution lying down. Following a decadeslong decline, three-pedaled vehicles are experiencing a modest but real resurgence. Manuals accounted for 1.7% of total new vehicle sales in 2023, according to data analytics company J.D. Power, up from 1.2% last year and a low of 0.9% in 2021. The Autotrader marketplace reports a 13% rise in page views for new manual cars in 2023 compared with this time last year.

☆ Ohio Senators Lead Rail-Safety Push After East Palestine Train Derailment
▼ + stars: | 2023-03-01 | by ( Natalie Andrews | ) www.wsj.com time to read: 1 min

Two Ohio senators are leading a bipartisan effort to respond to last month’s train derailment in their state, proposing legislation that would subject railroads to a series of new federal safety regulations and increase fines for wrongdoing. Vance of Ohio, along with Sens. Marco Rubio (R., Fla.), Josh Hawley (R. ), Bob Casey (D., Pa.) and John Fetterman (D., Pa.), introduced legislation on Wednesday intended to prevent future train disasters like the Feb. 3 derailment of Norfolk Southern Corp. railcars near East Palestine, Ohio. The incident has raised concerns about the long-term health risks near and around the village of 4,700 people.

☆ Car buyers rejoice: Discounts are making a comeback — but you might have to ask for them
▼ + stars: | 2023-03-01 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Car buyers didn't see the end-of-year blowout sales in November and December that they had been used to in holiday seasons' past. Instead, shoppers had to settle for new and used vehicles with markups above sticker price and no wiggle room. That puts discounts now at around $1,297, about 1% higher than the same time in 2022, Deutsche Bank analysts estimated this week. Where buyers might find the best incentivesLuxury vehicles saw the highest incentives at 6.2% in January, KBB said. "There's also some loyalty cash, and there's a pretty decent amount of rebates on some of the higher end vehicles.

☆ Meet the typical electric-vehicle buyer: A wealthy millennial trading in a luxury gas-powered car
▼ + stars: | 2023-02-28 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Non-luxury EVs are attracting former luxury buyers. As more electric vehicles have hit the market, the buyer base for them is continuing to skew younger. Since 2019, Gen X has overtaken the Boomer generation as the second-largest pool of EV buyers in the U.S., J.D. Only 28.5% of EV buyers in 2022 were women, compared to 29.1% in 2019. For the Kia brand more broadly, only about 6% of buyers are trading in luxury vehicles.

☆ Tesla may be losing EV market share — but it's still winning over converts from other brands
▼ + stars: | 2023-02-28 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

Tesla trumped all other automakers in terms of overall brand loyalty in a recent study. Tesla also won segment model loyalty awards, including luxury small utility for the Model Y, and luxury small car, for the Model 3. Tesla's success in 2022 was largely driven by inventory challenges among the traditional automakers, Tesla customers returning to market faster than the average buyer of other brands, and its many advantages as the EV market front-runner. Still, that might only go so far as Tesla loses EV market share. Tesla held 65.4% of the EV market in 2022, according to Experian.

The major Detroit pickup truck brands are sitting on growing inventories of unsold vehicles, according to Cox Automotive data provided to Reuters. Inventory levels are over 100 days’ supply for rival Stellantis NV's (STLAM.MI) Ram half-ton and heavy-duty pickups. Stellantis said in a statement it had no downtime planned at any of its North American plants, but constantly reviewed its inventory levels and would make production adjustments as needed. February sales growth was led by a 54% increase in sales to fleet customers, Power and LMC said. Especially for trucks," said Ohio dealer Rhett Ricart, whose Ricart Automotive Group sells Ford and GM trucks at different stores.

☆ Nikki Haley heads to fundraiser hosted by Wall Street executives
▼ + stars: | 2023-02-24 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Nikki Haley, a Republican who jumped into the 2024 presidential race this month, is set to attend a fundraising event for her campaign hosted by Wall Street executives in New York on Tuesday, according to an invitation first reviewed by CNBC. The Tuesday fundraiser for Haley's campaign is one of her first trips to New York as a candidate for president. Morning Consult's GOP primary tracker shows Haley has 6% of support from potential Republican voters. Former President Donald Trump garners support from about 50% of GOP primary voters, according to Morning Consult. Finance executives have played key fundraising roles for political campaigns of both parties for well over a decade.

☆ Cars leased in 2020 are worth an average $4,000 more than expected. These models have fared the best
▼ + stars: | 2023-02-24 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

Newsday Llc | Newsday | Getty Images3.3 million cars were leased in 2020An estimated 3.3 million leases were originated in 2020, according to Edmunds. "February 2023 trade-in equity is still more than double the pre-pandemic level," said Thomas King, president of the data and analytics division at J.D. Leased models that have the most extra valueAmong cars leased in 2020, the Mercedes-Benz GLS-Class has the highest dollar difference between current trade-in value ($62,257) and its originally estimated residual value ($50,942). The Toyota Sienna has a trade-in value ($30,207) that's $8,741 (or 41%) higher than the $21,465 residual value. If you want to try capitalizing on the positive equity as a trade-in or for cash, start by finding what your vehicle is worth.

☆ Transportation Secretary Pete Buttigieg says 'he'll do some thinking' on whether he should have visited East Palestine, Ohio sooner
▼ + stars: | 2023-02-23 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Pete Buttigieg said he could have expressed concern "sooner" for East Palestine, Ohio, after a train derailed. He said he'll "do some thinking" on whether it was a mistake to wait to visit. Asked on Thursday whether it was a mistake to have held off on visiting the community, Buttigieg said he'll "do some thinking" on that. "I felt strongly about this and could have expressed that sooner," he said. Buttigieg acknowledged earlier in the week that he could have spoken out sooner about the derailment.

☆ Who are Larry Kramer and Andreas Paepcke — the two people who paid part of Sam Bankman-Fried's bail?
▼ + stars: | 2023-02-19 | by ( Sarah Jackson | Lakshmi Varanasi | ) www.businessinsider.com time to read: +8 min

They are Larry Kramer and Andreas Paepcke, both of whom have ties to Stanford, where SBF's parents work. On Wednesday, unsealed court records identified the FTX founder's bail guarantors as Larry Kramer, a former dean of Stanford Law School, and Andreas Paepcke, a senior research scientist at Stanford. A screenshot of Larry Kramer's bio on a Stanford Law School web page shows that he's emeritus dean of the institution. from the University of Chicago Law School in 1984, according to his Stanford Law bio page. On his personal page, Paepcke listed hobbies including "piano studies and simple composition, worrying, and poetry."

☆ Traditional automakers have one huge leg up on EV startups: A nationwide network of shops ready to service cars
▼ + stars: | 2023-02-16 | by ( Alexa St. John | ) www.businessinsider.com time to read: +6 min

But today's EV startups don't operate that way. When in need of service, car buyers typically utilize the massive dealership network automakers like Ford, GM, Toyota and others have, or choose to take their vehicle elsewhere. Unlike Tesla, today's EV startups can't afford to tick their owners off with waits or make prospective buyers worry about repairs and service. The right-to-repair movement is also going to be significant for EV startups moving forward. "It comes down to how confident a given consumer feels when going with an electric vehicle from a new EV brand versus a traditional car from a traditional car company," Brauer said.

☆ U.S. senators question rail oversight after toxic Ohio derailment
▼ + stars: | 2023-02-15 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 15 (Reuters) - Two Republican senators sent a letter to U.S. Transportation Secretary Pete Buttigieg on Wednesday questioning U.S. freight rail system oversight in the aftermath of a toxic train derailment in Ohio on Feb. 3. Vance questioned Buttigieg about railroad safety, saying "it is not unreasonable to ask whether a crew of two rail workers, plus one trainee, is able to effectively monitor 150 cars." The Department of Transportation (USDOT) did not immediately comment but Buttigieg addressed the criticism in a series of tweets. Buttigieg responded to Cruz on Twitter that "we could start by discussing immediate steps Congress could take to address rail safety & reduce constraints on USDOT in this area. After railroad crews drained and burned off a toxic chemical from five tanker cars, Ohio Governor Mike DeWine on Feb. 8 said that residents could return to their homes.

☆ Breaking down the trade on Tesla shares ahead of the big investor day
▼ + stars: | 2023-02-12 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

The "Fast Money" traders are at odds over Tesla with a key event ahead. Even though Tesla shares rallied on CEO Elon Musk's plans to unveil his "Master Plan 3" at investor day on March 1, trader Julie Biel warns gains will likely stall. Tesla shares initially rallied on last Wednesday's announcement. "He's got his Twitter and Tesla bros behind him, and that's a meaningful force for the stock." Grasso got long on Tesla last Wednesday, and he plans to stick with the stock through investor day.

☆ New cars are crazy expensive but, if you’re careful, they don’t have to be
▼ + stars: | 2023-02-11 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +7 min

Yet the average sticker for base models, adjusted for inflation, has actually gone down a little — even as consumers have shifted from sedans to more expensive SUVs. That’s good news for drivers willing to go no-frills: If you don’t want to pay lots of a new car, you don’t have to. It has a base price of $15,730. These base price models may not make much money, if any, for automakers. The average price of a GMC Sierra 2500 HD, as sold, is now double the base price.

☆ The top 10 best U.S. airports—2 of them are in Florida
▼ + stars: | 2023-02-09 | by ( Celia Fernandez | ) www.cnbc.com time to read: 1 min

Getting to the airport, through security, and to your gate can either be an easy journey or a pretty daunting task. If you travel enough, you're already programmed to expect long wait times and crowded gates. Power, AWT, Google Maps, and Airport Tracker to rank the airports. The report found that the Tampa International airport in Florida had the highest score for passenger satisfaction, with a score of 846/1000. On the other end, Newark Liberty International airport received the lowest score with 719/1000.

☆ High-tech dashboards, driving assistants vex luxury vehicle owners -study
▼ + stars: | 2023-02-09 | by ( Joseph White | ) www.reuters.com time to read: +2 min

The gap in reliability scores between luxury brands and those for mass market brands such as Kia were the widest in the 34 years that J.D. Power sets Tesla aside from other brands in the rankings because the electric vehicle maker doesn't provide it with full access to information about owners. Other luxury brands fared poorly, too. Infotainment systems complaints, such as problems with wireless Bluetooth phone connections, dragged down scores from vehicle owners of several luxury brands, according to the report. Even as luxury brands compete to offer more advanced digital content and dashboard features, luxury vehicle owners are finding fault with the infotainment systems at about double the rate as owners of mass-market brands, Hanley said.

☆ Best Online Stock Trading Platforms of 2023
▼ + stars: | 2023-02-02 | by ( ) www.wsj.com time to read: +20 min

Luckily, the past few years has seen a profusion of online stock trading platforms. We spent hours comparing more than a dozen stock trading platforms looking for the most intuitive tools, in-depth research and access to guidance and other educational content. We considered all of this when making our picks for the Best Stock Trading Platforms of 2023. How we pickedTo pick Buy Side from WSJ’s best stock trading platforms, we reviewed offerings from more than a dozen companies. Morgan Stanley is the corporate parent of E*Trade, one of the stock trading platforms considered for this story.

☆ Trump’s Best Foreign Policy? Not Starting Any Wars
▼ + stars: | 2023-02-01 | by ( J.D. Vance | ) www.wsj.com time to read: +1 min

A few days before America’s 2022 midterm elections, Ukraine’s President Volodomyr Zelensky accused Russia of firing a rocket into Poland. In making the accusation, Mr. Zelensky was pushing on the dominoes that could start the world’s first war between nuclear powers. The rocket attack, it turns out, came not from Vladimir Putin’s Russia but from Ukrainian air defenses. Even after NATO made that assessment and acknowledged that Russia hadn’t fired the rocket, Mr. Zelensky continued to deny Ukrainian responsibility. The story faded from the headlines, and Mr. Zelensky enjoyed a hero’s welcome in Washington in December.

☆ Best Car Insurance Companies for Young Drivers
▼ + stars: | 2023-02-01 | by ( ) www.wsj.com time to read: +14 min

By Kat TretinaWhether you’re a parent adding a child to your car insurance or a recent college grad purchasing your own policy for the first time, you may experience sticker shock when you see how expensive car insurance premiums can be. Geico also has useful options for young drivers who have made serious mistakes in the past. For young drivers looking for personalized help choosing the right policy, the lack of local agents can be a significant downside. Best Car Insurance with TelematicsState FarmWhy We Chose It: Usage-based insurance, also known as pay-as-you-drive, uses smartphones or telematic-technology to track driver behavior and is increasingly popular. How We Picked the Top CompaniesTo identify the top car insurance companies for young drivers, we researched the 22 insurers ranked in the 2022 J.D.

☆ General Motors doesn’t expect significant U.S. production of EVs until second half of year
▼ + stars: | 2023-01-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

Barring any supply chain problems, Betts said electric vehicles should be easier and faster to build than traditional vehicles with internal combustion engines for an experienced automaker. Photo by Steve Fecht for General MotorsBut others such as Hyundai Motor and Ford Motor have been ratcheting up production of EVs. Industry leader Tesla also targets to produce 2 million electric vehicles globally this year. Ford, which ranked second in EV sales in the U.S. last year, expects to increase production of its electric Ford F-150 Lightning. GM expects to ramp-up production of the Bolt models, which use older battery technology, to 70,000 vehicles this year, GM has said.

☆ The Federal Reserve is likely to hike interest rates again. What that means for you
▼ + stars: | 2023-01-30 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

What the Fed's rate hike means for youThe federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. As the federal funds rate rises, the prime rate does, too, and credit card rates follow suit. After rising at the steepest annual pace ever, the average credit card rate is now 19.9%, on average — an all-time high. Student loans Federal student loan rates are also fixed, so most borrowers won't be impacted immediately by a rate hike. Savings accounts On the upside, the interest rates on some savings accounts are higher after a run of rate hikes.

But when it comes to Black success stories in his neighborhood, McCain is not alone. Washington, D.C., according to the U.S. Census Bureau, is a hub of upward mobility for Black families. One pillar of his success, McCain said, was attending Woodrow Wilson High School, a vocational school located in one of the area's higher-end neighborhoods. Through HalfSmoke, McCain is able to give back to the community that built him. Watch the video to learn more about one of the many Black success stories that began in Washington, D.C.

☆ Making America's semitrucks
▼ + stars: | 2023-01-25 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

"Demand for trucks is, I would say, unprecedented," said David Carson, SVP of sales and marketing for Daimler Trucks North America. "We've seen an incredible demand going through Covid and continuing well into next year. Four companies dominate U.S. truck manufacturing: Daimler Trucks, Paccar, Volvo and Traton. Truck makers are spending billions to replace fuel-burning diesel engines with battery- and hydrogen-powered electric systems. Established truck makers, such as the more-than-century-old Daimler, are balancing keeping their particular and often extremely cost-sensitive customers happy in the present, while investing for an uncertain future.

☆ Even with used-car prices falling, buyers are still paying more than $7,100 above 'normal,' report finds
▼ + stars: | 2023-01-19 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

There's still a ways to go before used car prices come back down to earth. Last month, the average price for a used car was $30,899, according to CoPilot. However, the price is headed in the right direction for consumers: Six months ago, the app estimated, car buyers were paying about $10,000 above "normal." Demand in the used car market skyrocketed during the pandemic as supply chain issues hampered automakers' ability to produce new vehicles. The average price of a new car is $46,382, according to an estimate from J.D.

Search resuls for: "J.D."

25 mentions found