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☆ At Stellantis investor day, cost cuts and China come into focus
▼ + stars: | 2024-06-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Massimo Pinca | ReutersDETROIT – Since spearheading a merger to create Stellantis in 2021, CEO Carlos Tavares has been on a cost-cutting mission. "We are not in the race to transition to EVs, but in a race to cut cost on EVs," Tavares said in late May during a Bernstein investor conference. The cuts are part of Stellantis' strategic plan to increase profits and double revenue to 300 billion euros by 2030. Executives on Thursday will outline developments across Stellantis' regions and businesses, including its capital and operational disciplines, according to Stellantis CFO Natalie Knight. "The share price reaction to the [capital markets day] will likely be driven by how these short-term concerns are addressed.

Persons: Carlos Tavares, Massimo Pinca, Tavares, " Tavares, Stellantis, Ned Curic, EVs, I've, Natalie Knight, David Dee Delgado, Ram, China's, Patrick Hummel Organizations: Reuters DETROIT, Atlantic, PSA Groupe, Fiat Chrysler, Ram, CNBC, Amazon, New York, Auto, Reuters, Cox Automotive, UBS, GM, Ford Locations: Turin, Italy, U.S, Auburn Hills , Michigan, Manhattan , New York, China

☆ Anti-abortion groups to Trump: Don’t water down GOP platform by removing support for federal ban
▼ + stars: | 2024-06-12 | by ( Steve Contorno | Alayna Treene | ) edition.cnn.com time to read: +8 min

CNN —Anti-abortion leaders are warning Republicans not to remove a federal abortion ban from the party’s platform at next month’s GOP convention even as their presumptive nominee, Donald Trump, backs away from it. “Our expectation is that the GOP platform will continue to unequivocally call for national protections for unborn children, rooted in the 14th Amendment,” Dannenfelser told CNN in a statement. CNN has asked Trump’s campaign for comment. Trump would not be the first Republican presidential nominee to appear at odds with the party platform on abortion. He insisted, though, there’s not much daylight between the party’s platform and Trump’s latest stance.

Persons: Donald Trump, Marjorie Dannenfelser, Susan B, Anthony Pro, ” Dannenfelser, Ralph Reed, Reed, “, ”, Trump, Roe, John McCain, Mitt Romney, Carol Tobias, I’m, lifers, Wade, Dobbs, Joe Biden, “ Trump, ” Biden, Sarafina Chitika, you’re, Trump’s, Lara Trump, Michael Whatley, Randy Evans, Russell Vought, Ed Martin, Phyllis Schlafly, there’s, ” Reed Organizations: CNN, GOP, and Freedom Coalition, Washington Post, Trump, Republicans, Wade, Republican, –, Jackson, Health Organization, US, Democrats, Danbury Institute, Christian, Biden, North Carolina Republican Party, Conservative Locations: Dobbs v, Roe, Texas, Florida, Luxembourg, Milwaukee

☆ GM board approves new $6 billion share buyback authorization
▼ + stars: | 2024-06-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors on Tuesday announced a new $6 billion stock repurchase authorization has been approved by its board. The new buyback authorization comes as an accelerated $10 billion share repurchase program announced in November 2023 is expected to be completed by the end of this month. This allows us to continue returning cash to shareholders," GM CFO Paul Jacobson said in a release. The new authorization will allow GM to opportunistically repurchase shares after the completion of the existing reauthorization, the automaker said. The announced buyback plans come amid uncertainty surrounding the adoption of all-electric vehicles, which GM has bet heavily on, and stalling customer demand for new vehicles.

Persons: Paul Jacobson, Jacobson Organizations: DETROIT, Motors, GM

☆ GM trims 2024 EV forecast amid slower-than-expected demand
▼ + stars: | 2024-06-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected. GM Chief Financial Officer Paul Jacobson said the company now expects production of 200,000 to 250,000 EVs this year, down from a previously announced range of 200,000 to 300,000. Jacobson said GM expects EVs to make up 8% of U.S. sales industrywide this year. GM expects its EVs to be profitable on a production, or contribution-margin basis, once it reaches production of 200,000 units. EV sales totaled 16,425 units, or 2.8% of the automaker's overall sales during the period.

Persons: Paul Jacobson, Jacobson, EVs Organizations: DETROIT, GM, Deutsche Bank Locations: North America

☆ Biden heralds his efforts to strengthen gun laws hours after son convicted on firearms charges
▼ + stars: | 2024-06-11 | by ( Michael Williams | ) edition.cnn.com time to read: +5 min

Speaking at an Everytown for Gun Safety event under a banner that read “Gun Sense University” in large block letters, the president did not reference his son’s conviction. Hunter Biden was pronounced guilty earlier in the day of three felony charges after a jury found he lied on a form by saying he was not abusing drugs when he purchased a firearm in 2018. Nothing will ever change that.”The painful moment for the Biden family comes a day before President Biden is expected to leave for a three-day trip to Italy for the G7 summit. As the trial was underway last week, Biden was in France commemorating D-Day. He also frequently touts signing the Bipartisan Safer Communities Act, which was the first significant gun safety legislation in a quarter-century when it was passed.

Persons: Joe Biden, Hunter Biden, Biden, Jill, ” Biden, Hunter, Jill Biden, “, we’ve, Donald Trump, Trump, ”, CNN’s Kevin Liptak Organizations: Washington CNN, White House, Safer Communities, NRA Locations: Wilmington, Italy, France, Delaware, Texas, New York

☆ UAW president under investigation by federal monitor
▼ + stars: | 2024-06-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT — United Auto Workers President Shawn Fain is under investigation by a federal court-appointed watchdog who is tasked with monitoring the union and eliminating corruption, according to a Monday court filing. The monitor, Neil Barofsky, is investigating whether Fain abused his power as union president. He also accuses union leaders, including Fain, of obstructing the investigation and interfering with his access to information. More recently, the filing says the monitor expanded the investigation to include additional allegations of retaliation by Fain against one of the union's vice presidents. The monitor also opened an unrelated investigation into another unnamed UAW International Executive Board, or IEB, member, a regional director, after receiving allegations of potential embezzlement, according to the filing.

Persons: Shawn Fain, Neil Barofsky, Fain Organizations: United Auto Workers, Health, Education, Labor, Pensions, Washington , D.C, DETROIT — United Auto Workers, UAW, U.S . Department of Justice, Union, UAW International, Board Locations: Dirksen, Washington ,, DETROIT

☆ GM has a secret to help sell its new EVs. It's Costco
▼ + stars: | 2024-06-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

Costco Auto has facilitated more than 500,000 vehicle sales annually over the past five years on average, according to Jay Maxwell, Costco Auto Program general manager responsible for strategic partnerships. GM declined to disclose how many Costco customers have purchased GM vehicles through the program. EV interestA growing number of vehicle sales made through Costco Auto are of electric vehicles, Costco said. In addition to GM, Costco Auto has partnered with Volvo, including its Polestar EV startup brand, Audi and others over the years. The Costco Auto Program was initially part of wholesale competitor Price Club, which merged with Costco in 1993.

Persons: Kena, Motors, it's, Marissa West, Michael Wayland, Jay Maxwell, Maxwell, Mary Barra, That's, Cox, Scott Mlyn, Julie Craig, –, Melissa Repko Organizations: Costco, Corbis, Getty, DETROIT —, Costco Wholesale, Detroit automaker, Costco Auto Program, EVs, Chevrolet, Chevrolet Blazer, GM North America, CNBC, U.S, Costco Auto, Canada, Ford Motor, Volkswagen, Brands, Lithia Motors, AutoNation, GM, EV, Volvo, Audi, CNBC Costco Auto, Cadillac, Industry, Cox Automotive, Dealers, New York Auto Show, Price Club Locations: Teterboro , New Jersey, CNBC, U.S, Detroit, Canada

☆ Rivian redesigns all-electric R1 pickup and SUV, adds Nvidia chips and improves performance
▼ + stars: | 2024-06-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

In this article NVDARIVN Follow your favorite stocks CREATE FREE ACCOUNT2025 Rivian R1S RivianRivian Automotive has redesigned its all-electric R1 pickup and SUV models to improve range, performance and computing power with the help of Nvidia chips, the company said Thursday. Amid the most notable changes to the new vehicles is their computing power, which Rivian says delivers 10 times more performance than the previous system. The lower-priced vehicles are crucial to Rivian's expansion as sales of its current models have slowed amid a sluggish industrywide sales pace for electric vehicles. 2025 Rivian R1T and R1S RivianRivian said pricing for the second-generation R1S SUV will increase $1,000 from current models to start at $75,900, with top-end trimotor models starting around $106,000. Rivian said the vehicles also feature more luxurious, updated interiors as well as a fully redesigned software interface.

Persons: Rivian, RJ Scaringe, R1T, Rivian Rivian Organizations: Nvidia, Max Locations: Illinois, Georgia, The California

☆ Election Updates: Trump again suggests prosecuting his political opponents.
▼ + stars: | 2024-06-05 | by ( Maggie Astor | ) www.nytimes.com time to read: +5 min

Lara Trump, the Republican National Committee co-chair and Mr. Trump’s daughter-in-law, strongly denounced him on CNN. Mr. Hogan has also said he would not be going to the Republican National Convention in Milwaukee next month, where Mr. Trump will officially receive the nomination. Mr. Hogan remains personally popular in Maryland, something Mr. Trump is not. “We don’t want to alienate Trump voters,” Mr. Hogan told The Associated Press in April. “But Larry Hogan is running for Senate in Maryland, not Mississippi,” a nod to the needle Mr. Hogan must thread.

Persons: Donald J, Larry Hogan’s, Hogan, Trump, “, ”, Chis LaCivita, Lara Trump, Trump’s, Hogan’s, Michael Whatley, Larry Hogan, Biden, Republicans —, —, Ben Cardin, ” Mr, Mr, Whatley didn’t, Steve Daines, Angela Alsobrooks, George Santos, Lou Dobbs, Chaya Raichik, aren’t, John Cornyn, Lindsay Reilly Organizations: Senate, Democratic, Mr, Trump, Republican, Republican National Committee, CNN, Republican Party, Trump Republican, Republican National Convention, Washington , D.C, Republicans, Democrat, Associated Press, Biden voters, Maryland, National Republican Senatorial Committee, Republican leadership’s, Fund, Hogan’s Democratic, Prince, Maryland Democrats, Maryland Democratic Party Locations: Maryland, Manhattan, America, Milwaukee, Washington ,, Montana, Mississippi, Prince George’s County, Washington, Texas

☆ Ford EV and hybrid sales surge 65% in May
▼ + stars: | 2024-06-04 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor's U.S. new vehicle sales rose 11.2% last month compared with May of last year, boosted by strong sales growth for all-electric and hybrid models. The Detroit automaker on Tuesday reported roughly 65% increases in sales of both hybrid and all-electric vehicles. The boost to EV sales is a conundrum for investors. The spike in hybrid sales is part of Ford's plan to double down on the technology. Ford reported total year-to-date U.S. sales through May of 877,685 units, up 5.6% compared with the same time period in 2023.

Persons: DETROIT –, Ford Organizations: New York, DETROIT, DETROIT – Ford Motor's U.S, Detroit, EV, Ford

☆ MUFG analyst explains why he expects the RMB to appreciate more against USD
▼ + stars: | 2024-06-04 | 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 EmailMUFG analyst explains why he expects the RMB to appreciate more against USDMichael Wan of MUFG says the Chinese economy faces both "cyclical challenges and structural issues."

Persons: Michael Wan, MUFG

☆ See inside Ford's new tech campus, a century-old Detroit train station restored for $950 million
▼ + stars: | 2024-06-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +8 min

The $950 million project encompasses the 18-story former train station called Michigan Central Station – once the state's marquee transit building – an adjacent 270,000-square-foot building and other, supporting facilities. The 30-acre "Michigan Central" campus and station was initially announced in 2018 and slated to open by 2022. Train station campusThe Michigan Central campus is located southwest of Detroit's main business district in a trendy neighborhood known as Corktown. The Michigan Central campus in total spans 1.2 million square feet of commercial space, including retail, restaurants and hospitality. The restored grand waiting room inside Ford's Michigan Central Station in Detroit.

Persons: Michael Wayland, Bill Ford Jr, Ford, Bill Ford, He's, Henry Ford, Ford Ford, Josh Sirefman, it's, It's Organizations: CNBC DETROIT, Michigan Central, Ford, CNBC, General Motors, Renaissance, eBay, Michigan Central Station, Detroit, Michigan, Central Station, CNBC Ford, Architects, Detroit Public, Depository, Google, Detroit Lions Locations: Motor, Michigan, Detroit, Silicon Valley, California, East, Detroit's, Dearborn , Michigan, Ford's, Mankato, Indiana, CNBC, Motor City, Pontiac, Rouge

☆ Jeep expects to grow plug-in hybrid SUV sales by as much as 50% in 2024
▼ + stars: | 2024-06-03 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

A Jeep Wrangler plug-in hybrid electric vehicle (PHEV) during the 2023 New York International Auto Show (NYIAS) in New York, on Wednesday, April 5, 2023. NEW YORK – Jeep plans to grow U.S. sales of its plug-in hybrid electric vehicles by as much as 50% this year as it leans into the technology as a bridge between its traditional gas-guzzling SUVs and all-electric vehicles amid a slower-than-expected sales pace of EVs. The Stellantis brand expects to sell 160,000 to 170,000 plug-in hybrid electric vehicles, or PHEVs, in the U.S. this year, an increase of 40% to 50% from last year, Jeep CEO Antonio Filosa told CNBC. "One of the pillars of growth for the market is going to be freedom of choice." PHEV sales at the level Jeep is expecting this year would top Stellantis' total 2023 U.S. sales of the vehicles, at roughly 143,000 units.

Persons: Antonio Filosa, Filosa Organizations: New York, Auto, CNBC, Jeep Locations: New York, U.S

☆ FAA says it doesn't 'have a timeframe' for when Boeing will be allowed to increase production of its 737 Max planes again
▼ + stars: | 2024-06-02 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Read previewBoeing won't be expanding its fleet of its 737 Max planes anytime soon, according to the FAA. Although no passengers were seriously injured, the FAA barred Boeing from expanding production on Max plane models until quality and safety issues were addressed. FAA administrator Mike Whitaker discusses Boeing quality and safety issues at press conference on May 30, 2024. The FAA grounded 171 Boeing 737-9 Max planes in January before launching its investigation into Boeing's production lines and manufacturing practices. The FAA grounded 171 Boeing 737 Max planes.

Persons: —, Mike Whitaker, Andrew Harnik, Michael Whitaker, Whitaker, Max, PATRICK T, FALLON, Dave Calhoun, Stephen Brashear, they've Organizations: Service, Boeing, FAA, Alaska Airlines, Business, Getty, CBS News, Management, Max

☆ Managers at Boeing's largest factory 'hound mechanics' to keep quiet about safety concerns, employee says
▼ + stars: | 2024-06-02 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Read previewManagers at Boeing's largest factory in Everett, Washington, "will hound mechanics" to keep quiet about safety and quality assurance concerns, a mechanic who has worked for the company for more than three decades told The Guardian. Boeing's Everett site, one of the world's largest manufacturing buildings, produces the 747, 767, 777, and 787 airplanes. The factory is also responsible for fixing the 787 Dreamliner, and the unnamed mechanic told the Guardian that it was "full of" faulty 787 jets waiting to be mended. Many of the planes arriving at Everett come from Boeing's 787 Dreamliner Final Assembly building in South Carolina, which it opened in 2011. AdvertisementFollowing the Alaska blowout incident, the FAA ordered Boeing to produce an action plan to address its safety issues.

Persons: —, Boeing's Everett, Max, Sam Salehpour, shim, Michael Whitaker, Sheikh Ahmed bin Saeed Al Maktoum Organizations: Service, Boeing's, Guardian, Business, Boeing, Everett, Alaska Airlines, Federal Aviation Authority, FAA, CNBC Locations: Everett , Washington, Everett, South Carolina, Alaska, Emirates

☆ Opinion | Election Security, Trump-Style
▼ + stars: | 2024-05-30 | by ( Katherine Miller | ) www.nytimes.com time to read: +2 min

building — are dedicated to one cause: election integrity.”She was sitting between her husband, Eric, and Jason Simmons, who is the new North Carolina G.O.P. “Election integrity,” in Donald Trump’s telling, tends to be about the past; party co-chairs like Ms. Trump usually talk about the present. The three sat onstage, motionless, as Mr. Trump talked about the border, then eventually, came to North Carolina. Theoretically, that Mr. Trump won while a Democrat won the governorship offers the best proof of all that the election was not stolen. But perhaps because to concede his own success in one place would render his failure elsewhere unbearable, Mr. Trump must instead believe that fraud took place there as well, and that Michael Whatley defeated it.

Persons: Lara Trump, Eric, Jason Simmons, Donald Trump’s, Trump, “, Michael Whatley Organizations: Republican National Committee, North Carolina G.O.P, Democrat Locations: North Carolina, Greensboro, N.C, Pennsylvania, Georgia

☆ Jeep reveals all-electric Wagoneer S in EV offensive, starting at $72,000
▼ + stars: | 2024-05-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

2024 Jeep Wagoneer S EV JeepNEW YORK – The first all-electric Jeep SUV for the U.S. will be the Wagoneer S, starting at about $72,000 when it's scheduled to go on sale this fall. The $71,995 starting price of the Wagoneer S EV sits between gas-powered versions of the Wagoneer, starting at about $63,000, and more luxurious Grand Wagoneer, starting at roughly $92,000. 2024 Jeep Wagoneer S EV JeepHe also said the company will release electric, extended-range versions of the traditional gas-powered Wagoneer and Grand Wagoneer in 2025. 2024 Jeep Wagoneer S EV "R-Wing" JeepDespite sharing the "Wagoneer" name with Jeep's current gas-powered model, the five-passenger, two-row EV shares little with its three-row traditional internal combustion engine counterpart other than some Jeep styling. Stellantis design chief Ralph Gilles during the unveiling of the Jeep Wagoneer S EV on May 30, 2024 in New York City.

Persons: Antonio Filosa, Filosa, Michael Wayland, Jeep, Carlos Tavares, Tavares, " Tavares, Massimo Pinca, Wagoneer, Ralph Gilles, Stellantis, Gilles Organizations: EV, CNBC, Reuters, Cherokee, CNBC Stellantis, U.S, Jeep Locations: U.S, North America, Turin, Italy, PHEVs, Europe, Mexico, New York City

☆ Stellantis CEO says $25,000 Jeep EV coming to the U.S. 'very soon'
▼ + stars: | 2024-05-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Stellantis plans to offer a $25,000 all-electric Jeep vehicle in the U.S. "very soon" to better attract mainstream consumers amid slower-than-expected electric vehicle adoption, CEO Carlos Tavares said Wednesday. "In the same way we brought the 20,000 Euro Citroen e-C3, you will have a $25,000 Jeep very soon," he said Wednesday during a Bernstein investor conference. Stellantis currently offers an all-electric version of its Avenger SUV in Europe, starting at about 35,000 euros, or about $37,800, according to its website. Offering a new EV for around $25,000 has long been a target for automakers such as Stellantis, Tesla and others. "If you ask me what is an affordable BEV, I would say 20,000 euros in Europe and $25,000 in the U.S.," Tavares said.

Persons: Carlos Tavares, Tavares, Stellantis, Tesla, BEV, " Tavares Organizations: Citroen Locations: U.S, Europe, China

☆ Trump’s Hip-Hop Mafia - The New York Times
▼ + stars: | 2024-05-29 | by ( Charles M. Blow | ) www.nytimes.com time to read: +1 min

One oddity of Donald Trump’s Bronx rally last week was when the former president invited two rappers — Michael Williams, who performs as Sheff G, and Tegan Chambers, who performs as Sleepy Hallow — to the stage. Both rappers are facing felony charges. And that fact actually makes their appearance at the rally make sense — it tracks with Trump’s seemingly transactional relationship with several hip-hop artists, a history of which I have no doubt Sheff G and Sleepy Hallow are aware. Afterward, Wayne posted a picture of the two of them together flashing thumbs-ups and reading, “Besides what he’s done so far with criminal reform, the Platinum Plan is going to give the community real ownership.”The Platinum Plan was Trump’s Black economic empowerment proposal that was announced toward the end of that year’s presidential race. In what certainly looked a lot like a quid pro quo, Trump pardoned Wayne as he was leaving office.

Persons: Donald Trump’s Bronx, — Michael Williams, Tegan Chambers, Hallow —, Hallow, Lil Wayne, Wayne, Trump Organizations: Trump Locations: Florida

☆ Cadillac's new entry-level Optiq EV to start at $54,000
▼ + stars: | 2024-05-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – General Motors' new entry-level 2025 Cadillac Optiq electric vehicle will start at $54,000, the company said Wednesday. The compact-sized crossover is set to be Cadillac's fourth electric vehicle when it goes on sale later this year. It follows the $59,000 Lyriq midsize crossover, the $300,000-plus bespoke Celestiq sedan and the upcoming $130,000 Escalade IQ SUV. The Optiq will be sold in 10 regions, including North America, China and Europe, where it debuted Wednesday at a new Cadillac showroom in Paris. It comes as automakers attempt to expand the appeal of EVs with less-expensive models following slower-than-expected sales for the emerging vehicles.

Persons: Cadillac, John Roth Organizations: DETROIT, Motors, EV, Cadillac Locations: North America, China, Europe, Paris

☆ Porsche reveals first-ever 911 hybrid sports car, starting at $164,900
▼ + stars: | 2024-05-28 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Porsche on Tuesday revealed the first-ever production hybrid version of its iconic 911 sports car, with a starting price of $164,900. The 2025 911 Carrera GTS hybrid marks a significant change to the iconic German sports car amid the automotive industry's focus on increasing electrified vehicles and tightening fuel economy standards. "We developed and tested various ideas and approaches to decide on a hybrid system that optimally suits the 911," Frank Moser, Porsche vice president of the 911 and 718 model lines, said in a release. The new 911 Carrera GTS can accelerate from 0 to 60 mph in 2.9 seconds – 0.3 seconds quicker than the prior non-hybrid GTS model – and reach a top track speed of 194 mph. It is powered by a newly developed 3.6-liter boxer hybrid engine that produces 532 horsepower and 449 foot-pounds of torque.

Persons: Frank Moser Organizations: Porsche, Carrera, Volkswagen

☆ How author David Nicholls uses humor in his book ‘You are Here’
▼ + stars: | 2024-05-28 | by ( Saira Mueller | ) edition.cnn.com time to read: +15 min

That’s not too surprising coming from Nicholls, whose 2009 novel “One Day” explored many of the same themes. It was the most enjoyable writing experience I’ve had for a long time. While hiking the coast-to-coast walk in England, author David Nicholls encountered some torrentially rainy days. I wanted the book to be partly about the comedy of miscommunication — the things we don’t say or the things we say and regret. You say you wanted the book to be in part about miscommunications and what ifs.

Persons: Marnie, Michael, David Nicholls ’, Cleo, That’s, Nicholls, ”, Anne Hathaway, Jim Sturgess, ” Michael, HarperCollins Marnie, “, that’s, I’ve, it’s, David Nicholls, David Nicholls I’m, you’re, Dexter, Emma, there’s, I’d, —, else’s, It’s, Leo Woodall, Ambika Mod, Ludovic Robert, Ambika, Leo, Woodall, we’d, There’s, they’ll Organizations: CNN, New York Times, Netflix, HarperCollins, Dales Locations: York, England’s, London, romcoms, England

☆ Rise of resort day passes offers travelers luxury on a budget
▼ + stars: | 2024-05-25 | by ( Micah Washington | ) www.cnbc.com time to read: +5 min

Day passes at hotels and resorts offer guests access to amenities without the cost of reserving a room. Hotels and third-party partners are making day passes more readily available to help bridge the gap between travel-minded consumers and luxury prices. Luxury hotel room rates in July are expected to be 85% higher than the same month in 2019, before the Covid pandemic, according to the luxury travel company Virtuoso. Berg said day passes "give people exactly what they want" and provide a separate source of revenue for hotels. Customers who buy day passes through ResortPass often splurge on poolside or other hotel amenities more than overnight guests do, Wolf said.

Persons: Lora Bowler, Bowler, she's, Hayley Berg, Hopper, Berg, Sarah Payton, Michael Wolf, Wolf, ResortPass Organizations: The New, Booking.com, Consumers, Virgin Hotels, Empire, ResortPass, Waldorf, Astoria, JW Marriott Locations: The, The New York, U.S, Virgin Hotels New York City, Manhattan's Koreatown, Fontainebleau, ResortPass

☆ UAW challenges Mercedes-Benz union vote, asks NLRB for new election
▼ + stars: | 2024-05-24 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023. DETROIT – The United Auto Workers union is challenging the results of last week's organizing vote of Mercedes-Benz workers in Alabama, in which workers voted against union representation, and is asking federal officials to order a new election. Union organizing failed at the Alabama plant with 56% of the vote, or 2,642 workers, casting ballots against the UAW, according to the NLRB, which oversaw the election. The NLRB said its regional director will review the UAW's allegations of an unfair election. If after the hearing, she finds that the employer's conduct affected the election, she can order a new election.

Persons: Let's, isn't, Shawn Fain Organizations: United Auto Workers, UAW, ZF, Systems, DETROIT –, Mercedes, Benz, Union, National Labor Relations, NLRB Locations: Tuscaloosa , Alabama, Alabama, Detroit, Atlanta

☆ How Ace Hardware, America’s neighborhood hardware store for 100 years, is beating its big-box rivals
▼ + stars: | 2024-05-24 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +10 min

A majority of Ace Hardware stores are located in neighborhoods. Courtesy Ace HardwareBarker is owner and operator of five Breed & Co Ace Hardware locations in the Austin, Texas, area. We count on people coming in everyday to buy a gift item from us.”This hybrid hardware-home goods-curio model is setting Ace Hardware stores apart. “They are essentially shareholders, they own the brand and the company,” said Kim Lefko, chief marketing officer of Ace Hardware. It just launched its first Ace-branded food product, a line of BBQ sauces, and a collection of Ace Hardware vintage-inspired clothing.

Persons: New York CNN — Mahin Barker, ”, Sherwin Williams, ” Neil Saunders, Hardware’s, today’s, Michael Brown, It’s, “, Barker, ” Barker, we’ve, ” Brown, “ We’ve, Kim Lefko, Lefko, John Madden, Pat Summerall, Michael Wynn, Vera Bradley, ” Wynn, Wynn Organizations: New, New York CNN, Home Depot, Hardware, Ace Hardware, Globaldata, “, NFL, Acon Investments, Sunshine Locations: New York, West Lake Hills, Austin , Texas, Brook , Illinois, Placer, remodels, Lake Hills, Chicago, Southern Florida, Florida

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