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IronLionZion
IronLionZion's Journal
IronLionZion's Journal
May 9, 2024
That's the whole article since CNN is free.
Corvette will be Chevy's only car. They stopped making the Bolt last year but plan to bring it back for 2026. Ford's only car is the Mustang. Dodge gave up on cars last year. Chrysler still has the 300 for now. Cadillac still has some cars. Lincoln and Buick gave up.
American carmakers don't want to make cars anymore. It's all SUVs and trucks these days, which have higher profit margins. Even some foreign carmakers have reduced their car options for the North American market.
The Chevy Malibu, the brand's last sedan, will end production
https://www.cnn.com/2024/05/09/business/chevrolet-killing-off-chevy-malibu-sedan/index.html
The Chevrolet Malibu, the last sedan still sold by General Motors biggest selling brand, will end production this year, the company announced.
Malibu production will end in November as the factory that builds it, the Fairfax Assembly Plant in Kansas City, Kansas, is reconfigured to build a new generation of the Chevrolet Bolt EV.
With the Malibus demise, General Motors mainstream Chevrolet brand will sell only trucks, SUVs, and the Corvette, a two-seat sports car, in the United States.
Chevys close competitor, Ford, made a similar move years ago when it stopped selling the Taurus and Fusion sedans, leaving the two-door Mustang as the only traditional car in its line-up. Chevrolet stopped making its Mustang competitor, the Camaro, last year.
Traditional cars vehicles that are not SUVs, trucks or vans make up less than 20% of US auto sales, according to Cox Automotive. The last generation of the Malibu was first introduced in 2016, making it much older than competitors such as the relatively popular Honda Accord and Toyota Camry. A new version of the Camry, now available only as a hybrid, just went into production. Still, GM sold more than 130,000 Malibus last year, a 13% increase from the year before.
The Malibu was introduced back in the 1960s as a more luxurious version of the Chevrolet Chevelle, called the Chevelle Malibu. By the 1970s, it had become its own distinct model. The Malibu model line ended production in 1983 but was brought back again in 1997, and has been in production since then.
The Chevrolet Malibu, the last sedan still sold by General Motors biggest selling brand, will end production this year, the company announced.
Malibu production will end in November as the factory that builds it, the Fairfax Assembly Plant in Kansas City, Kansas, is reconfigured to build a new generation of the Chevrolet Bolt EV.
With the Malibus demise, General Motors mainstream Chevrolet brand will sell only trucks, SUVs, and the Corvette, a two-seat sports car, in the United States.
Chevys close competitor, Ford, made a similar move years ago when it stopped selling the Taurus and Fusion sedans, leaving the two-door Mustang as the only traditional car in its line-up. Chevrolet stopped making its Mustang competitor, the Camaro, last year.
Traditional cars vehicles that are not SUVs, trucks or vans make up less than 20% of US auto sales, according to Cox Automotive. The last generation of the Malibu was first introduced in 2016, making it much older than competitors such as the relatively popular Honda Accord and Toyota Camry. A new version of the Camry, now available only as a hybrid, just went into production. Still, GM sold more than 130,000 Malibus last year, a 13% increase from the year before.
The Malibu was introduced back in the 1960s as a more luxurious version of the Chevrolet Chevelle, called the Chevelle Malibu. By the 1970s, it had become its own distinct model. The Malibu model line ended production in 1983 but was brought back again in 1997, and has been in production since then.
That's the whole article since CNN is free.
Corvette will be Chevy's only car. They stopped making the Bolt last year but plan to bring it back for 2026. Ford's only car is the Mustang. Dodge gave up on cars last year. Chrysler still has the 300 for now. Cadillac still has some cars. Lincoln and Buick gave up.
American carmakers don't want to make cars anymore. It's all SUVs and trucks these days, which have higher profit margins. Even some foreign carmakers have reduced their car options for the North American market.
May 9, 2024
If we don't want to trust Hamas numbers, fine. What are the numbers from Israel? From third parties? From anyone?
"You've NO IDEA How Many You've Killed?" Piers Morgan vs Avi Hyman
If we don't want to trust Hamas numbers, fine. What are the numbers from Israel? From third parties? From anyone?
May 2, 2024
Maryland is about to get $350 million from insurance in bridge collapse
https://www.cnn.com/2024/05/02/business/key-bridge-collapse-insurance-payment/index.html
New York
CNN
The state of Maryland is about to get an insurance payment of $350 million related to the collapse of the Francis Scott Key Bridge in late March, according to the broker handling its policy on the structure.
The payment would come from insurer Chubb, which has a $350 million limit on the policy it had written on the bridge, according to Henry Daar, head of property claims, North America for WTW, the broker on the policy. The payment will be made soon rather than waiting for the construction of a new bridge to begin, a process that could be years away.
The policy will only cover a small fraction of the billions in damages and the clean-up costs associated with March 26 collapse caused by a cargo ship, the Dali, a Singaporean-flagged container vessel, that lost power and slammed into one of the bridges support columns.
So far, 3,000 tons of wreckage and debris have been removed from the site for disposal or recycling, according to the latest update from the unified government command overseeing the effort. An estimated 50,000 tons of wreckage still needs to be removed from the site.
New York
CNN
The state of Maryland is about to get an insurance payment of $350 million related to the collapse of the Francis Scott Key Bridge in late March, according to the broker handling its policy on the structure.
The payment would come from insurer Chubb, which has a $350 million limit on the policy it had written on the bridge, according to Henry Daar, head of property claims, North America for WTW, the broker on the policy. The payment will be made soon rather than waiting for the construction of a new bridge to begin, a process that could be years away.
The policy will only cover a small fraction of the billions in damages and the clean-up costs associated with March 26 collapse caused by a cargo ship, the Dali, a Singaporean-flagged container vessel, that lost power and slammed into one of the bridges support columns.
So far, 3,000 tons of wreckage and debris have been removed from the site for disposal or recycling, according to the latest update from the unified government command overseeing the effort. An estimated 50,000 tons of wreckage still needs to be removed from the site.
May 2, 2024
Hmm...maybe it's not Biden's socialist policies keeping prices high, but actually corporate greed. I'm shocked. Shocked I tell you.
American oil tycoon accused of trying to conspire with OPEC to inflate prices
https://www.cnn.com/2024/05/02/energy/oil-ceo-opec-scott-sheffield/index.html
New York
CNN
Scott Sheffield, founder and longtime CEO of a leading American oil producer, attempted to collude with OPEC and its allies to inflate prices, federal regulators alleged on Thursday.
The Federal Trade Commission said Sheffield, then CEO of Pioneer Natural Resources, exchanged hundreds of text messages discussing pricing, production and oil market dynamics with officials at the Organization of the Petroleum Exporting Countries, or OPEC, the oil cartel led by Saudi Arabia.
Regulators say Sheffield used WhatsApp conversations, in-person meetings and public statements to try to align oil production in the Permian Basin in Texas with that of OPEC and OPEC+, the wider group that includes Russia.
Mr. Sheffields communications were designed to pad Pioneers bottom line as well as those of oil companies in OPEC and OPEC+ member states at the expense of US households and businesses, the FTC complaint said.
Unlike with OPEC nations, US oil production is supposed to be decided by the free market, not by coordination among the major players.
New York
CNN
Scott Sheffield, founder and longtime CEO of a leading American oil producer, attempted to collude with OPEC and its allies to inflate prices, federal regulators alleged on Thursday.
The Federal Trade Commission said Sheffield, then CEO of Pioneer Natural Resources, exchanged hundreds of text messages discussing pricing, production and oil market dynamics with officials at the Organization of the Petroleum Exporting Countries, or OPEC, the oil cartel led by Saudi Arabia.
Regulators say Sheffield used WhatsApp conversations, in-person meetings and public statements to try to align oil production in the Permian Basin in Texas with that of OPEC and OPEC+, the wider group that includes Russia.
Mr. Sheffields communications were designed to pad Pioneers bottom line as well as those of oil companies in OPEC and OPEC+ member states at the expense of US households and businesses, the FTC complaint said.
Unlike with OPEC nations, US oil production is supposed to be decided by the free market, not by coordination among the major players.
Hmm...maybe it's not Biden's socialist policies keeping prices high, but actually corporate greed. I'm shocked. Shocked I tell you.
May 2, 2024
Conservatives must be tripping over themselves to apply for fast food jobs then, right?
Jesse Watters Math The Daily Show
Conservatives must be tripping over themselves to apply for fast food jobs then, right?
May 2, 2024
Killing the goose that lays the golden eggs. Super genius strikes again.
In surprise move, Musk axes the team building Tesla's EV charging network
https://www.cnn.com/2024/05/01/business/tesla-ev-charging-layoffs/index.html
Competitors blindsided
In a post on LinkedIn, Lane Chaplin, a senior manager in Teslas charging division, wrote: In the middle of the night, I learned, along with all my #Tesla Global #Charging colleagues, the Tesla Charging org is no more.
But, following an invitation by Tesla chief executive Elon Musk, virtually every big automaker in the United States committed to making EVs compatible with Teslas charging technology, now known as the North American Charging Standard.
In response, major EV charging providers such as Electrify America and EVgo have also announced they will begin building chargers with NACS cables.
What this means for the charging network, NACS and all the exciting work we were doing across the industry, I dont yet know, Jameson wrote in his post.
Competitors blindsided
In a post on LinkedIn, Lane Chaplin, a senior manager in Teslas charging division, wrote: In the middle of the night, I learned, along with all my #Tesla Global #Charging colleagues, the Tesla Charging org is no more.
But, following an invitation by Tesla chief executive Elon Musk, virtually every big automaker in the United States committed to making EVs compatible with Teslas charging technology, now known as the North American Charging Standard.
In response, major EV charging providers such as Electrify America and EVgo have also announced they will begin building chargers with NACS cables.
What this means for the charging network, NACS and all the exciting work we were doing across the industry, I dont yet know, Jameson wrote in his post.
Killing the goose that lays the golden eggs. Super genius strikes again.
May 1, 2024
Well this is interesting.
The Fed could make a big change today. And no, we're not talking about interest rates
https://www.cnn.com/2024/05/01/investing/premarket-stocks-trading/index.html
New York
CNN
Wednesdays Federal Reserve policy decision will likely be pretty boring for investors officials are widely expected to keep interest rates the same, just as they have since July 2023.
But some savvy traders are getting excited about another key decision. They think that the Fed may curtail its quantitative tightening (QT) program thats the selling off of its assets to decrease money supply and increase interest rates by as much as half.
Whats happening: The Fed bought a ton of government-backed bonds between 2020 and 2022 to help support economic recovery after the pandemic-induced recession. Those purchases ended up pushing down interest rates in certain parts of the economy, like housing and auto sales.
In mid-2022, as inflation soared higher, the Fed reversed that and began unloading those bonds.
What it means: May 1 is set to be a big day in the bond market, Evercore ISIs Krishna Guha and Marco Casiraghi wrote in a recent note.
If the Fed does ease up its tightening policy, financial markets will likely see the taper of the QT program as bullish for riskier investments like stocks and bonds at the margin, wrote Bill Adams, chief economist for Comerica Bank, in a note on Tuesday.
Thats because a taper should send bond prices higher, and interest rates lower.
The risk, wrote Bank of America analysts on Tuesday, is skewed to the upside for stocks, in our view, especially given a potential QT taper announcement.
New York
CNN
Wednesdays Federal Reserve policy decision will likely be pretty boring for investors officials are widely expected to keep interest rates the same, just as they have since July 2023.
But some savvy traders are getting excited about another key decision. They think that the Fed may curtail its quantitative tightening (QT) program thats the selling off of its assets to decrease money supply and increase interest rates by as much as half.
Whats happening: The Fed bought a ton of government-backed bonds between 2020 and 2022 to help support economic recovery after the pandemic-induced recession. Those purchases ended up pushing down interest rates in certain parts of the economy, like housing and auto sales.
In mid-2022, as inflation soared higher, the Fed reversed that and began unloading those bonds.
What it means: May 1 is set to be a big day in the bond market, Evercore ISIs Krishna Guha and Marco Casiraghi wrote in a recent note.
If the Fed does ease up its tightening policy, financial markets will likely see the taper of the QT program as bullish for riskier investments like stocks and bonds at the margin, wrote Bill Adams, chief economist for Comerica Bank, in a note on Tuesday.
Thats because a taper should send bond prices higher, and interest rates lower.
The risk, wrote Bank of America analysts on Tuesday, is skewed to the upside for stocks, in our view, especially given a potential QT taper announcement.
Well this is interesting.
April 27, 2024
How to lose the dog lover vote. And goats too.
Noem's confession she killed family puppy shocks dog trainer, CNN panel
How to lose the dog lover vote. And goats too.
Profile Information
Gender: MaleHometown: Southwestern PA
Home country: USA
Current location: Washington, DC
Member since: Mon Nov 10, 2003, 07:36 PM
Number of posts: 45,601