Category Archives: Auto Industry

Race Against Time, Virus vs. Savings

race against time, virus, savings
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It’s a race against time. Can the virus be spent before your savings?

701,000 American jobs were lost in March and the unemployment rate rose from 3.5% to 4.4% in one month according to the WSJ.

Meanwhile, The Guardian says about 35 companies are working on a vaccine and Moderna is about to begin human testing. And “many many‘ groups are working on immunity-giving antibody tests that provide results in minutes.

Feds Plan to Make Everyone Flush

feds,$1000, toilet paper
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The feds are trying to stimulate the economy out of the toilet. The plan so far is to make everyone flush with free money. Thousand dollar plus checks could be in the mail soon.

Trump Base Battle

Trump Base

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The economy  is booming but the Trump base is taking a hit.

GM is shutting down Chevy Cruze production at its 6 million square foot Lordstown plant. And Reason says the billion dollar cost of steel and other tariffs might have something to do with it. Steel workers are an important part of the Trump base. So are autoworkers and 1400 of them are about to lose their jobs.

Trump Base

“The U.S. saved General Motors, and this is the THANKS we get!,” tweets Trump.

Kevin Williamson at NR says it was dumb to bail out GM in the first place. American carmakers can’t compete on sedans with the likes of Honda or Audi. But they’re good at making trucks and SUVs people like. They should have focused on that sector long ago, he says. But we “paid them not to.”

Electric cars too. NPR reports the government subsidies electric cars to the tune of a $7,500 tax credit for buyers.

So now GM will focus on what it’s good at. In Mexico.

Elon Musk Settles

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“Musk might be a genius when it come to electric cars and space travel, but he’s a little bit of a numbnut when it comes to dealing with the SEC,” Stanford Law School professor and former SEC commissioner Joseph Grundfest said in a weekend interview with the San Jose Mercury News.

Uber Founder Ejected

uber founder ejected

Uber investors forced C.E.O. Travis Kalanick out of the company he founded.

Here’s Reuters:

The resignation sent shockwaves through Silicon Valley and leaves Uber’s board of directors with the problem of finding a dynamic leader who also has a steady hand needed to heal Uber after a bruising six months.

Uber Founder Ejected

And here’s MIT Technology Review on Uber’s driverless car problem:

Its new CEO will inherit many problems, but a business plan based on the elusive dream of driverless cars is the largest.