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GM shares were trading down nearly 2% at midday, even though CFO Paul Jacobson said demand for GM's trucks and SUVs remains strong in the United States. GM has been able to raise prices in the United States over the past two years as supply chain bottlenecks kept production in check. GM will cut production to keep inventories in check, Jacobson said. GM has three battery factories in North America, and will announce the location of a fourth domestic battery plant soon, he said. Jacobson added that the company was going to have to "prioritize down" on growth businesses to focus on preserving cash.

☆ US first-quarter auto sales set to rise on better inventory
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

But rising interest rates and fears of a recession may play spoilsport in an industry where most vehicle purchases are financed with loans, analysts say. "Consumers are facing credit uncertainty as rapidly rising interest rates have created barriers to entry for even the most qualified buyers," said Jessica Caldwell, executive director of insights at auto research firm Edmunds. The automaker is set to post a 15% rise in first-quarter U.S. sales, while Japanese rival Toyota Motor Corp's (7203.T) sales are likely to fall nearly 10%, when they publish data beginning Monday, according to consultant Cox Automotive. Toyota has continued to struggle with inventory shortages sparked by supply constraints, losing its crown as the top selling U.S. automaker to GM. Trucks and crossover SUVs are expected to account for majority of new retail sales in the quarter, according to automotive data company J.D.

DETROIT/WASHINGTON, March 3 (Reuters) - Ford Motor Co (F.N) on Friday said it was studying ways to boost output of gasoline-powered and hybrid F-150 trucks at a Michigan factory as part of a broader plan to boost production of several models. The automaker reiterated that it is still on track to triple F-150 Lightning EV production this year, targeting an annual production run rate of 150,000 by the end of 2023. The automaker was forced to halt production in early February after a battery fire, and plans to resume production on March 13. Ford's U.S. F-150 sales fell 9.9% in 2022 to about 654,000, including 15,617 F-150 EV trucks, as the company struggled with production and supply chain problems. Postal Service this week said it would buy 9,250 E-Transit delivery vehicles from Ford starting later this year.

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.

☆ GM to idle Indiana truck plant for two weeks as demand plateaus
▼ + stars: | 2023-02-23 | by ( Priyamvada C | ) www.reuters.com time to read: +2 min

Feb 23 (Reuters) - General Motors (GM.N) said on Thursday it will halt production at its Fort Wayne Assembly truck plant in Indiana for two weeks from March 27 as inventory starts to outweigh demand with the easing of supply-chain snags. Shares of the U.S. automaker fell 3% in early trade, while rival Ford Motor Co (F.N) was about 1% lower. Analysts have warned that rising interest rates and high vehicle prices could begin to depress demand, even as inventories of new vehicles have been rising over recent weeks. GM said in a statement that its production was up over the past month while demand remained "fairly consistent", leading to an increase in inventory. Last year, GM's truck plant was idled for two weeks over semiconductor chip shortages.

☆ Indiana's Senate race will show the depths of the fault lines within the GOP. Early signs show it's still Trump's party.
▼ + stars: | 2023-02-04 | by ( John L. Dorman | ) www.businessinsider.com time to read: +10 min

Mitch Daniels would have been an ideal GOP Senate candidate. Daniels' decision offers a look at the obstacles that the party continues to face headed in 2024. Mitch Daniels would have been seen by most traditional conservatives as an ideal candidate to run for the Senate. Eric Holcomb is a potential candidate in the 2024 Indiana Republican Senate primary. AP Photo/Manuel Balce CenetaIndiana could drive the GOP Senate roadmapAhead of the 2022 midterm elections, Republicans anticipated making major gains in Congress, which eventually didn't come to pass.

☆ You Call That Snow?! See How This Winter Stacks Up.
▼ + stars: | 2023-01-26 | by ( Francesca Paris | ) www.nytimes.com time to read: +7 min

If so, you’re not alone: It has been a dreary winter for children hoping for snow days and grown-up snow enthusiasts alike on the East Coast. More than 50 years of snowfall in … Interactive line chart showing cumulative snowfall for each winter season over 50 years, as well as the median snowfall for all seasons. Line chart showing Philadelphia’s cumulative snowfall for each winter season over 50 years. Loading dataLine chart showing Boston’s cumulative snowfall for each winter season over 50 years. Milwaukee Pittsburgh Providence, R.I. Pueblo, Colo. Richmond, Va. Rockford, Ill. St. Louis Topeka, Kan. About normal snow Anchorage Boise, Idaho Colorado Springs Columbia, Mo.

☆ NBA roundup: Hornets come out firing, blow out Bucks
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +7 min

Tyrese Maxey led the Sixers with 26 points and Tobias Harris had 22 points and 11 rebounds. Romeo Langford added 15 points for San Antonio, with Malaki Branham hitting for 14 and Jeremy Sochan 10. Daniel Gafford had 15 points and nine rebounds, and Kristaps Porzingas added 14 points and 10 rebounds. John Wall had 14 points and eight assists, and Moses Brown produced 14 points and 11 rebounds. Bam Adebayo recorded 21 points and 11 rebounds and Jimmy Butler added 20 points and six assists for the Heat.

☆ Here’s what to expect in the housing market this year
▼ + stars: | 2023-01-05 | by ( Anna Bahney | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Last year was a wild ride in the US housing market. So what’s in store for the housing market this year? “Mortgage rates are really critical to the path of the housing market in the year ahead,” said Jeff Tucker, senior economist at Zillow. “Yes, things have cooled way down in the housing market, but we don’t have a glut of homes for sale,” said Tucker. A plain, boring, vanilla year in the housing market would be a wonderful surprise.”

Democrats both in Washington D.C. and Arizona spent the weekend processing Arizona Sen. Kyrsten Sinema’s decision to leave the party and register as an independent. The Biden White House’s statement called her a “key partner” that they expect to continue to work with. A growing field in Indiana: Four Republicans could be running to succeed Indiana GOP Gov. This comes as Indiana GOP Sen. Mike Braun and the state’s GOP Lt. Gov. Fort Wayne businessperson Eric Doden has already announced his campaign, and the state’s Secretary of Commerce Brad Chambers is expected to jump into the race as well.

☆ After years of arguing, Congress is finally letting the US Air Force send some A-10 Warthogs to the boneyard
▼ + stars: | 2022-12-12 | by ( Thomas Novelly | ) www.businessinsider.com time to read: +6 min

The defense policy bill for 2023 will allow the US Air Force to retire 21 A-10 Warthogs. The Air Force has wanted to get rid A-10s for years, but Congress has blocked it from doing so. The Air Force has another 260 A-10s in service, but lawmakers may be more open to scrapping them. That Air National Guard wing previously flew earlier models of the F-16 until they were replaced — to much fanfare — with the Warthog back in 2010. Airmen reconfigure weapons on an A-10 during an exercise at MacDill Air Force Base in Florida in November 2019.

Now, a woman from Austin, Texas, has come forward because she nearly died when she couldn’t get a timely abortion. “We found out that we were going to lose our baby,” Amanda said. “To see in a matter of maybe five minutes, for her to go from a normal temperature to the condition she was in was really, really scary,” he said. That leaves the Zurawskis scared – and furious that they might never have a family because of a Texas law. She and Josh worry about women in rural areas, or poor women, or young, single mothers in states like Texas.

☆ Vera Bradley's founders Pat and Barb look back on the last 40 years as they embark into the metaverse
▼ + stars: | 2022-09-24 | by ( Chloe Melas | ) edition.cnn.com time to read: +4 min

It was 1982 in Fort Wayne, Indiana, and Patricia R. Miller was stopping by to introduce herself to new neighbor Barbara Bradley Baekgaard. “The Kappa [Kappa Gamma women’s sorority] house at Michigan State, they kind of brag that they started the company,” Baekgaard said. “We went through all kinds of names, but Barb’s mother’s name was Vera Bradley. Over the next several decades Vera Bradley expanded to bedding, tech and home accessories. Even as the women look back at 40 years of Vera Bradley, the brand is looking ahead and pushing the boundaries of its duffel-bag roots.

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