26 Burst results for "Carmax"
Clark Howard Show
"carmax" Discussed on Clark Howard Show
"See that because then you have disclosure if it's been in a major accident, things like that. And with any use vehicle you buy, absolutely critical. I don't care if it's a certified blah blah or anything like that. You want to have as a condition of purchase that you have it inspected by a mechanic of your choosing. Because with used vehicles, you look at the sticker on the car or the truck or whatever. On that sticker, the white sticker with the black type, it will say you can not rely on any assurances you're given verbally, they mean nothing, basically. A dealer is under the law allowed to lie to you about the history of a used vehicle and the condition of that used for you. So you need to know this because it's your money and you buy that vehicle the second you buy a used vehicle it is yours you are stuck with it unless you buy it at one of the consumer friendly dealers they give you a 3.5 or 7 day period or in the extreme thing CarMax has been doing in some markets. 30 days to return a vehicle for a full refund. I mean, buying at a dealer buying a used vehicle where you're buying a history you don't know, buying one where you have no right to return it for a refund for a period of time. Not return for a credit to buy something else from that dealer. The misled you in the first place. No, you only want to buy a used vehicle from a place that gives you a right to return for a refund for a
Bloomberg Radio New York
"carmax" Discussed on Bloomberg Radio New York
"You can track it where you are as well. Rob Carolyn will be with me on radio, I hope in the 9 o'clock hour. As we move forward, futures up 9 down futures up 80, note last night, 8 59 p.m. just before the surveillance bedtime, bramo, emailing me. We need to talk to somebody about what matters. So we're going to do that now. Jason trenner went out years ago. It's strategus of bird company. And hired one of the best spread guys in the street. His name is Thomas Torres. And his notes are really, really something. We're going to get to that in a moment, but first we've got to do equity. Can you top Nike FedEx today or just sort of sliding through it on a Friday? I'll try. We're going to start on the story that keeps on giving or keeps on taking away depending on what side of the trader on Tesla shares are really little change this morning, even as Elon Musk says he'll stop selling those shares. They're up about one and a half percent now after seeing a pretty big decline throughout the year. He basically is saying, he won't sell stock until probably two years from now, definitely not next year under any circumstances. He said this kind of thing before. He was speaking in a Twitter spaces kind of concept. We heard from Dan Ives on Twitter actually about this saying that this could put the lows in for the stock. If it actually is the issue that we see with the target down, I think the one 75 somewhere than where it's at right now. He's enthusiastic and I thought of you, Lisa, given a menu of to do's for mister Musk. It's not like fixed sales in China. It's not a normal reaffirmed outperformed from mister Ives. It's basically stop with the politics stop with the drama over at Twitter. And then, oh yeah, you have to deal with waning demand. I'm also looking at AMC. Interesting to see those shares plunging at 9% in pre market trading after they did a ten to one reverse stock split with converting preferred equity units into common shares. The CEO on Twitter said, the changes would stop investors from pushing AMC toward penny stock territory, not being received well currently. And then I was looking also at CarMax because it ended the day down almost 4% yesterday, and the losses are continuing today. And they dragged down a lot of the used car auto dealers, as well as beyond those shares down 1% ahead of the open. Really interesting area, particularly with its macroeconomic read in terms of demand and who can buy and who can not buy. With the race of where they are. Educated me on this yesterday. I mean, the day before, whatever it was, carvana CarMax and the summary here is America can't afford new cars, right? Well, no, America can afford new cars because those typically are higher costs, luxury cars that people with money can afford, and they can afford to. That's not America. So a lot of Americans do that. The rest of America is struggling with 11% interest rates to borrow loans to buy a car. And they have gone up so much over the past couple of years. It's been some people would say a bubble in the used car space. We'll have to see. So what we're going to do here is really digress here. This is so detailed and so narrow. I really can't talk to Tom. I mean, it's all there is to it. He's had a fixed income research. It's tricky. A strategus of bird company and Lisa, this is your world in his call and spreads to me is shocking, explain first what he's saying. What he's saying is what a lot of people have been saying, but I'll let you put it in your words better than I that we could see rates already have plateaued and come down. But the credit aspect is at risk next year that people are going to demand more because of the downturn and the potential economic cycle. How deep will that credit related pain be from your vantage point? Yeah, well, really, the truth is we are looking at a very shallow recession and very shallow credit contraction in 2023. Now the depth of that will be determined in part by how high the fed funds rate goes and how long it takes to get to recession. The longer it takes to get to recession, therefore, the more consumers build up credit card debt and the more the fed raises the fed funds rate, the deeper the recession is going to be in the wider the credit spreads are going to be. But right now, we're looking at a fairly shallow recession and credit spread is really only migrating a few handles higher. So maybe about 200 basis points on IG credit. How much do you see private credit factoring into this? We saw that market expand massively over the past decade, particularly in the past 5 years. There hasn't necessarily been a full repricing. There haven't necessarily been the forest sales. Do you see a sort of bomb cyclone in the credit kind of situation next year as you do start to have people mark to market a little bit more? It's very difficult to say because the truth is we don't know the two big question marks is really how large is that market. We really don't have a good idea. And the other question mark is you don't really get in trouble and have a catastrophic collapse in credit. When borrowers are highly leveraged, you get in trouble when the creditors are highly levered. And unfortunately, we don't know how highly levered the creditors are. It's not like with banks, even when banks had off balance sheet risk, there was some good notion of how much leverage the banks had, that their IE, the predators, how much leverage they had. We really don't know how much leverage the creditors have today, and we don't know the size of their books in truth. The best guess we have is when we look at the bank loan market and the bank loan market tells us that there is some elevated risk there versus even what we saw in 2008. And that sector should underperform the high yield bond market. That is bank loans. And so we have to suspect that there is going to be an elevated amount of credit stress in private debt, this cycle as well, but probably not something that is going to elevate to the point of any sort of systemic risk. So if we had to put this into hard numbers, typically the high yield bond market in a recession might see high yield spreads widen out to 700 basis points or higher and then really distress times a thousand basis points. Bank loans would not move that far, bank loans would see less stress. This time around bank loans are very likely to see more stress in the high yield bond market. And so more of that pain is likely to shift to bank loans
The Bill Simmons Podcast
"carmax" Discussed on The Bill Simmons Podcast
"Return it up to 1500 miles C CarMax dot com for details, CarMax, car buying, reimagined. Sal you're in the clock. All right, I gotta find this now, so the parent corner is not gonna involve my kids, but involves my mother to me, and that's a child parent relationship. If you're sparing at home. My mother texted me the other day. It's Thursday. It's right before the game. Like the hour before the Thursday game, I'm getting all my bets and trying to narrow it from 25 to 12 because I need to have as much action on the game. It's possible. And then I get from my mother, she sends me a text that says, because I love you, I have to share. And then it's this video which I didn't watch. It's a YouTube video, and it says diabetes and erectile dysfunction, healing the body with the right foods, part one. Part one. So I guess there's a part two if I enjoy this enough. This is what she's sending me. She became a vegan at age 71. She's 76. And from then on, she's been a complete pain in the ass. Now, raised us on salty meats that you couldn't Italian. Italian. Yeah, she's actually Jewish, but she's Jewish. Yes, but might as well. Right, my Italian father's mother taught her how to cook, everything was a Italian cooking, and then boom, I don't know what she on Facebook, she saw all these plant based this, and that God blessed you if that's your thing, but it's not mine. And forever. And I tell her, I was like, look, when I'm 71, if I'm lucky enough to make it, I'll do this too. Give me 20 more years. Can you imagine all this erectile dysfunction thing? She sends me a grown man. I have to sit through this. And I say to my wife, I'm like, listen, you got to text her and say that Sal has no problem in that department. With diabetes. Yes, of course. ED. And you know, be very graphic, but she's like, no, I'm not doing that. I'm like, please do that. But she won't. But anyway, mom, please stop sending me this. I'm not watching this video. Why did she send you that? I don't understand that at all. She thinks I'm gonna get diabetes. Yeah. Although, I will say, right before Halloween is a good time to send this if you're gonna send it at all. I'm gonna put down 75 minutes. My mom doesn't send me clips. She just sends me texts like today she texted me about the watcher. It was really, really good, very well done. The scariest part was me or Farrell's face. But I don't know. It felt like it. Well, there you go. Tell me if aero space.
The Bill Simmons Podcast
"carmax" Discussed on The Bill Simmons Podcast
"More at CarMax dot com CarMax. Carbine reimagined. All right, Sal. So if cards rams is amazing for some reason, we'll go on. There's some major injury or something. We'll go on green room and we'll do ten minutes to make a pick. If not, sounds come back next thing. Tell us what he had to plug. Fox went live, Monday, Thursday, Friday, extra points dot com, all your gambling needs are covered there against a lot of people go over the side and the total and props and first touchdown for Arizona and the rams. By the way, our we did well on our futures on this show. We picked the over unders. I think you were 15, 13 and four. I was 19 9 and four. Wow. And we picked some exact too. Like, I think we both had like Texans to win exactly four games was 5 to one, bills to win exactly 11 was plus one. We should go back and look at those because we hit those exact numbers. That's the way to do those. I don't know why I can't turn this into a profit in real life, but we gave up we gave out winners. I talked to house this week and we were just kind of figuring out who bets and did we like the same bad stuff like that. We started talking about the Lions bet we made. I said he went through our text thread. With you, which, by the way, has thousands of texts. So just going backwards on that takes like four hours, probably get back to late August, early September. And he said, reading the texts of us coming up with that line's bet, got him all bummed out and said all over again. He laid it all out. It was like, here's their schedule. It's impossible for them to win. What do they end up with? Four wins, three wins. Three out of tie. Yeah, there are three 13 and one. And we laid it all out. We were like, here's their schedule, and this, and they have these three, and we were like, it would be impossible for them to win more than three games. And we weren't wrong, but it all came down to this stupid Green Bay game where if there was a real number one pick in the draft if freaking Trevor Lawrence was in this draft, there's no way they're trying in the fourth quarter of that game. But of course, it's the one draft where there's no pure number one. Right. So it just keeps going and they're like, fuck it, let's try to win who cares where we draft. And we lose our bet. We had it locked up with three minutes left. They had no business beating the packers. Like it was so four to one. It was the right pick. Yeah. He's going back like a thousand texts. That's a ton of text. That's right. That's really bad. The good thing is it wasn't a text ride with hands on it. Because that would have been like 52,000. 49,000 from hench. But yeah, so we're on the phone. We're both it's like the middle of a workday where like a ten minute conversation about lion's worst record bet. Gotta love gambling. Next year we gotta hit that thing. Why don't they quit on their coach like everyone else did? Sons of bitches. They didn't just quit on their coach. They went the other way. They believed they'd triple down on their coach. They was like, what sports should all be about? And somehow we had them for worst records. Why did we bet on the team that had the worst coach of the last ten years? And they fired him, but there's videos that have been a bar. Everyone hated him. Why don't we bet on that team? Yes. Well, we did well with our overall run. Silver lining. All right, because we'll talk to you next week. That was a good job. Good job. All right, that's it for the podcast. Thanks to Sal, thanks to Cal creighton.
Clark Howard Show
"carmax" Discussed on Clark Howard Show
"It's the way they subsidize the price of the vehicle without doing an official price cut. But right now with almost no exceptions, a vehicle coming up on the end of its lease is going to be worth substantially more than what your residual value is, you have to pay. And we had someone recently who posted it was really a comment not a question that they had heard me talk about this last summer and they bought their vehicle at the end of the lease and they made a $5000 profit. And this is not unusual right now because the used vehicle values being is inflated as they are compared to the residual and your lease, even if you don't want to keep the vehicle at the end of your lease, you want to buy it if there's a big spread between that residual and what it's worth trade in value to a dealer to carvana to CarMax to vroom to anybody who buys vehicles without you having to buy one from them. And what's cool is you can go on carvana and in many cases, CarMax, and you can get an offer on your vehicle that's good for 7 days. And you get a feel for where the marketplace is versus that residual in your lease. If you like the vehicle you've released, then you're getting a real score if you can buy it for the residual that now has a valued at a much lower price than the market price on the vehicle. And I want to repeat nothing like this is ever happened in the history of vehicle leasing. And it may not ever happen again. But the 2019 lease cycle has led to 2018 did 2019 will in 22 lead to this real opportunity for you to score one of those two ways. So don't just turn your lease vehicle back in. Another gotcha be aware you may get a phone call, a letter, an email, even a text from the dealer you did the lease with originally or the financing company bank, whoever.
The Bill Simmons Podcast
"carmax" Discussed on The Bill Simmons Podcast
"Card? I need that back. Bed. Where's my cryo coupon? So now I was noticing my wallet. So then I started counting in my wallet. And I thought it was him and it turns out it's actually my wife was stealing the money. Oh, perfect. But I think he might have been too, but there's just, it's a house of lies right now, so. Right. That's all I can tell you. Did you have a lot of and then he got super mad. When that was got a free one. He's got a free swipe now. Because if you accuse him and it's your wife that did it and I was like, all right, I got a free one coming to me for sure. Well, he gave me this one, which I got to say hurt my feelings. What do you care? It's going to be online anyway. What do you say to that? That's unanswered. No, you're wrong. Yeah, I'll probably be. I will decide why not sure. You don't want to decide when I die. Yeah. Because then I'll kill you, so you don't want to say that either. Yeah, you don't want to spell it out for them. That's a running joke. The brothers. He calls himself. Really? He's like, yeah, but that footing. Well, maybe he'll start dating L and L three 9 one 7. You can see it all coming together. It's gonna be all mine someday anyway. It's like the all time Trump card insult. Oh, that is. It's not wrong. At some point you and I are dying. Yeah, yeah. At some point. Our kids are gonna outlive us, so he's not technically wrong. Do you have the best Succession episode just playing out in your house right now? Definitely a lot of stealing. That's it for para corner. Today's parent corner is brought to you by CarMax, get a 30 day money back guarantee with CarMax. Now, you have a full month to decide if a car is the right fit. And you can return the car for any reason.
The Bill Simmons Podcast
"carmax" Discussed on The Bill Simmons Podcast
"If it's to a team after you buy CarMax has you covered with a third day of money back guarantee up to 1500 miles. Learn more at CarMax dot com. CarMax, carbine, reimagined. All right, so you're up. All right, so you know, my son, same age as your daughter, it's a junior in high school. They're in the semifinals and the playoffs varsity football. He plays every down on defense defensive end. The town is into it. It's a small, I mean, it's it's Friday night lights is we're going to get in a town and beach town in California. But it's very cool. You run into people and everyone's talking about it. Oh, your son's playing great. Oh, your son's playing. Yeah, this is oh, we really have a chance. Very exciting. And then the game is Friday night at 7 and about 5 o'clock. My phone starts blowing up from like text from parents. Do you believe this? What the hell? What kind of shit are they trying to pull? So it turns out the team we beat and rather handily last week. Informs our coach, Friday morning that they had positive COVID tests on their team and kids played with COVID the week before. And he's like, I don't know what you want to do about it, but you have guys that played with kids that were affected from our team. And our coach is like, I didn't know what to do. He was like, all right, well, give us your names and I'll look at the tape, and we'll see who was close to them, like did they all play in the coach is like, we can't tell you anything. You guys have to deal with it. So now the parents are like, and keep in mind, our whole team tested negative on Wednesday. This is going to get political. But I don't care. But so we all tested negative on Wednesday. And that should be good enough, I think. And the parents are all like, child, let them play. It's outdoors and it's fine. It was a week ago and everyone tested negative on Wednesday. Let them play in the superintendents like, no, no, no. If you weren't vaccinated, which 7 players weren't vaccinated, 5 of them are seniors, you're not playing. And 5 of them started 5 of them seniors. It was like this is outrageous. Now, people are trying to get rapid tests for the unvaccinated seniors and players and superintendents like it doesn't matter. It doesn't matter. So our coach is scrambling. And now this is like 20 minutes before the game. They finally let someone comes to their senses and now everybody gets to play. But this is after they switched line ups and everything. So we're unfocused, and we lose 46 43. 46 bucket and 43. And you have to think like, maybe things would have been different if the last two hours before the game weren't spent trying to watch film to see who was next to who we don't even know who's vaccinated. But this is a crazy thing. This team might have been bad blood and they might have just made this up. We could make this up with the team that beat us. Next week and call their coach next Friday. And then they're going to have to deal with that. What the hell is going on in this world? Why would they wait until Friday? They found out a week later. Was there even? Is it even serious? Maybe they made the whole thing up. Because they don't have to give out names. So they might have made the whole thing up. Just be a ringer narrative podcast? It really may have to be. But we're proud of the miracles the Mustangs. 46 43. Damn it, damn it Simmons. It's so much fun. I can't wait for you to experience it. Football. I can not wait either. What a tough way to lose the season, though, Jesus. It's ridiculous. It's so stupid. I had my parent corner was also about high school football, but it's not my kids. So you might remember three years ago, my friend Sully, MVP in my wedding. His son was the quarterback for situate high and then up winning the state title division four. So his younger son Keegan, who is on that team who's a 9th grader who was like, you know, he 9th graders barely played, but he's playing a little bit. Wide receiver kick returner. So now he's on this situate team and he's one of the best players as a captain. So they're playing to go to the state title again on the he's the guy now. They're playing grafton in the semis on Saturday, grafton comes back ties at 1414 fourth quarter. Keegan bricks is 66 yarder for the eventual game winning touchdown. Now they're going to for the div four title and they change the brackets around. So they're playing duxbury. Which is their situate duxbury. Those are right next to each other. That's the big rivals of each other. And in the same league. But now they're actually playing for the state title in Gillette. Because they offer the state things in Gillette. Most hated rival. But it's always last last dance and his wife enjoyed the game so much. I think she had, I think 5 red ball shots. What's the one thing what are the things you drink? Multiple fireball sash. So we call them after the game and she's screaming in the background. It's like really literally coming to an end. But yeah, the Sully family. That's great. Unbelievable. Now duxbury, the last frontier they could do to stay titles. Anyway, that's fun. That no COVID mysterious. No, no, dumb. No dumb stuff. High school football gotta love it. Gotta love having it back. All right, that's it for parent corner. Today's parent corner is brought to you by CarMax, finding the right car is all about the perfect fit. Maybe the most important criteria in your list is making sure your favorite mug fits in the cup holder. Our friends at CarMax aren't.
The Drill Down
"carmax" Discussed on The Drill Down
"Said that he has reached agreement with senate colleagues that a banking reform. Bill impacting cannabis companies will not advance before marijuana legislation. Schumer made these comments on the podcast. Psycho active yeah. Let's let's set this up for a second here. So there was a without a voice vote. There was a an amendment that would have been harder this Upcoming bill infrastructure bill. That would have just allowed for safe. Banking for cannabis. Companies was widely hailed across the industry. Now shurmur saying we're not gonna let that pass because it'll keep a different wider marijuana bill from passing because the fact is so popular so people make cannabis industry or like you know are crazy about these comments and say we finally got this safe. Bill passed we can actually have real banking for this industry. And now they're gonna latin not actually president a law. It's with hopes of getting a bigger marijuana bill. Maybe perfect z. Enemy of the good here. If you think say factors could here's what shimmeran to say exactly on that podcast. Today senator booker widened. I have come to agreement that if we let this bill out it'll make it much harder and take longer to pass comprehensive reform we certainly want the provisions similar to the safe banking act in our bill but to get more moderate people to get some republicans to get the financial services industry behind a comprehensive. Bill is the way to go. It's the right thing to do. Is is comprehensive reform. That's what we believe in all the pain that's been suffered by so many people for so long will not be alleviated because banks can now do some funding of The growing and processing marijuana. And so we think that the quickest way to get it all done is do it together if you let just the banking provisions bass it'll make it much harder to get more republicans in more conservatives on the bill were trying to create a coalition for comprehensive reform. I mean we'll see i. There's such a desperate need for legal. Banking in the sex industry has drug dealers and trump has it has criminals poaching on legal businesses. Because they literally can't take cash receipts and put them in a bank and they're walking around the streets with backpacks and security guards. It's it's just a crazy situation for businesses legal in many states awkward with drilling down on. Today let's start with carmax. Carmax trades in her. Knx shares fell ten percent today. But they've gained forty two percent in a year outperforming the snp. What happened with carmax today. Well this should be the salad days for. Carmax used cars or as hot as they have ever been is. New cars aren't being created a because the semiconductor shortages and other a supply chain problems so used cars hot used car. Prices are high and carmax saw that they sold a lot of cars seven percent. Six point seven direct year-over-year more cars sold. The average selling price was up thirty one percent the same quarter a year ago to twenty thousand dollars but they're gross profit margin their you goes profit per unit was just two thousand one hundred eighty five dollars so twenty two hundred bucks a car down from the previous year so just win. Mars are super high and for everything else in this industry. These guys couldn't collect a lot of margin I think it was a little disconcerting for people that follow his company. And think if you can't make money now if you can't make more money now when are you going to make more money And you know the spending a lot of money advertising. It continues to spend a lot of money. Advertising even don't have enough cars to sell the inventory of their I'm the conference call this morning. Bill nash the. Ceo's asked about advertising. And you know. Are you really pleased with this. Kind of performance if you're spending so much and advertising of cars to serve your customers and you can't take a lotta gp you lot of Gross profit per unit profits for these cars. Like you would expect. You wonder these days as bill. Nash like the advertising for Example yeah we're really pleased with forms of that. We saw about a nineteen percent increase in web traffic. Our average flow to our website was about It's a little more than thirty four million a month so that's another example where you feel like investments paying off as far as the second part of your question the gpu. It's great question. So you know. I i kinda think about. We're in a very similar situation today that we were last quarter when we talked about this. You know. we're constantly testing You know a couple of quarters ago. We talked about doing some broader scale testing just because some of the other factors some of the other proper channels that were coming through the organization and while those still exist just like last quarter. You know we really wanted to make sure we we gotta monitor their macro factors doesn't make sense. You gotta look at your inventory levels. You gotta understand the elasticity which again we're still getting the read on last issue with test that we always have going You wanna see what competitors are doing and it just didn't make sense You know to to to deviate more from that historical Trend that we have on on margins and you know we at the end of the day. We wanna have very very competitive Competitively priced inventory. I think with the self sufficiency that certainly helps going forward is how you should think about. The third quarter is probably. Gp's more in line with historical Average just like the the second quarter was so these guys drawing a lot of traffic crowd trying to grow their brand with. They're not growing as profit and it's disconcerting. I would think that like. I said this is the time. What is your next drill down. Let's look at workhorse workhorse. Workers or w. k. h. s. shares plummeted almost seventy percent in a year. What's what's happening here with workhorse. So this is one of those kathy. Woodstock's investments electric vehicle maker. She likes to. She likes the sector. She likes the stock. This thing though is just one problem after the next Last we heard from them. They had stopped a they recalled some frog recalled the for the forty one vehicles already delivered. They suspended deliver the rest that they were making they as they said you know described the time at a press release as enhancements to the production process. And you don't recall vehicles near the indian in need of enhancement in your column. Typically they're needed fixing So you know and now we get the news today. The botha chief financial officer and the chief operating officer headed for the exits. This is right after They could put a new ceo. In just in august In fact it was remember. The last conference call was pretty stunning because they had a ceo. It only been on the call for about the company for about a week Full of great enthusiasm. Richt out you was but what was going on to the company. He's only been here. A week are weak. But i've done a lot of diligence for. I got here and i was spending time with the team. Both the factory in union city injuring team We we have set up the week of august sixteenth. We're going to go through full vehicle. Design reviews down to the materials with both our engineering team and our Purchasing team it seems to me at a high level right now. We have zero issues with their electric and electric power traces are vehicles in the field and obviously bill are meeting the hundred mile range that's required from ninety six percent of the vehicles and the commercial vehicle space we have the ability to flex up to one hundred fifty miles if we had more battery packs on their majority of our issues around vehicle dynamics around chassis systems. Those kind of things pillow okay. I won't go on those details today. I'd ask for your patience. Gimme ninety days and we'll come back with a detailed plan. The good news at least from outside looking in and now a week of being an insider those the those vehicle dynamic issues are all solvable. You get the right engineers working on the right issues and get the right suppliers there to help us. Okay and i would say this team has done a great job putting together those designs. We need to do a better job of in involving our supplier partners. Who are the experts in some of the subsystems. We do that correctly. I think we can be out to market the damn good vehicle suit. So what does that ninety days up. So that was that was from august So that we're still going to be more months but obviously these guys really struggling fair. Who's going to run the ship. And what the ship is and can they shipped the trucks at all and and And now this was the ceo and cfo. Leaving even to replace the. Oh this is.
This Day in History Class
"carmax" Discussed on This Day in History Class
"Day was september. Sixth sixteen fifty one after fleeing for his life following his defeat at the battle of worcester. Charles the second. The king of scotland and rightful king of england took refuge in a tall oak tree where he remained until the coast was clear a few days earlier on september third oliver cromwell and his parliamentarian forces had won the final battle of the english civil war when it was clear the royalists had lost the twenty one year old charles the second escaped the battlefield on horseback with some of his most trusted men. They rode forty miles through the countryside. Until it last reaching the ruins of the white lady's nunnery on the northern border of shropshire. When they arrived charles troop said about disguising him. They dressed him in old. Clothes cut his hair and smeared his face with soot. It was a necessary measure because cromwell had already dispatched soldiers to hunt down. the road. King wanted posters quickly appeared far and wide and a one thousand pound reward was issued for his capture with the kings safe for the time. Being most of his friends departed to avoid drawing attention to the group. Only richard peril remained with charles to help lead him through the woods on september fifth. The pair fled towards the river. Saverne where they hoped to cross into wales and from their sale to the relative safety of france unfortunately they found that the severn was heavily. Guarded by cromwell's patrols left with no way forward. Charles and richard were forced to turn back the way they came this time. They headed for bosca bell house a remote hunting lodge about a mile away from the nunnery where they'd hidden the night before when they arrived at around three. Am on the morning of september six. They were informed by richards. Brothers that the white lady's nunnery had already been raided by cromwell's soldiers. Another royalist fugitive named major william carlos was also hiding out at bosko bell. He suggested that it would be safer. If charles didn't stay in the house instead. He recommended that the two of them climb a bushy oak tree on the house grounds. That way they could see in all directions and keep tabs on the enemy soldiers. Who would surely come looking for them.
Supernatural with Ashley Flowers
"carmax" Discussed on Supernatural with Ashley Flowers
"Everyone who goes through sleep. Paralysis says the same thing. They weren't dreaming. They were awake when it happened because they could see and hear everything going on around them and everyone who only hears about sleep. Paralysis says the same thing. There's no way these people were actually awake. It was probably just an extra vivid nightmare but once you hear stories about people who experience sleep paralysis. You realize there's a problem with that theory. You start to wonder if it wasn't real. Then why did they all see the exact same thing. This question haunted. A man named david hovered in nineteen sixty three david's a college student studying in williamsport pennsylvania. One night he wakes up in his dark off-campus bedroom to find himself completely paralysed. He can't lift a finger in fact he can't move a single bone in his body. He tries to call out for help but his vocal chords aren't responding either. Nothing like this has ever happened to him before so he has no idea. If it's ever going to end. He feels more helpless and more vulnerable than he's ever been in his life and that's when it gets a thousand times worse david. Here's a faint shuffling sound. It takes him a second to realize that. It's the sound of footsteps. There's someone in his bedroom. He tries to roll over and switch on the light but his muscles still won't cooperate. Meanwhile the footsteps are getting closer then he feels the bed sink down like something's climbing in david tries to scream but no sound comes out. And that's when he feels a sudden pressure on his chest like something's kneeling on him pressing him down into his mattress. You can't see it. He can only feel it but whatever it is grabs his throat and starts to suffocate him.
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"carmax" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"They experience zi hao property that the worked up so that has been incredible. Desperation for convex. And that is being a one of the reason why we've been able to go back and being able to transfer company so well over the past few years and with the pandemic in all its it just showed up. Nobody does bear but because we were in nba radiation work like a product in a mindset shift gear break weekly after example give you so our wholesale b2b business with art largest wholesale got company entry. We'll take the entire fiscal business online literally with eggs because opportunities to change that way to deploy something like this and less than two weeks to induct onto that man jeopardy changes positive changes training marketing campaign. Everything else and we will do. Deploy this intermission in less than three weeks. So this got bags of minnie wind. His duty works. Because we've up telling them how beginning at the brickley goal and they know how to best. Go blow up doing great. Thank you for that overview melanie. I'd like to give you the last word you talked about the the focus on innovate scale and fulfill and it's that pivot from innovate to scale. That is often the troubling one for large organizations. It's all well and good to have an innovation lab that's building all sorts of art of the possible type new opportunities but some of them build a series of prototypes. That never really turned. The dials. never really moved the needle so to say for a massive revenue organization like like yours like the customers that you're working with an and the like can you talk a little bit about the the methods you use and think about in order to make that that crucial pivot from innovate to scale. Yeah again a a forty billion dollar company in in growing so massive like you sad and we're we're all over the all over the globe but you know that the key again is the first. It's the engagement and link with our customers and ensuring that we have you know that that close connection in in what they're looking for and we have the processes in the back office to turn that around very quickly and fail fast. Innovating fail fast with But then the the leap to stale.
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"carmax" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"To drive positive changes in how we work and You know so our focus from an it standpoint is not just changing the processes that we use internally but changing how our company operates in the processes that they execute and throughout the last few years. We've moved from a really eleven. What we call the eleven global global work processes that were really functionally owned aligned to shifting to really focusing on three main end to end processes around innovate scale in seville. Ultimate goal is changing the way we work aimed at accelerating visibility and adoption of our material science innovation. Which you know if we do that. Wow that could no doubt lead to some substantial growth so we continue to think about our customers journey as they go through different phases of their business. Whether that's you know finding learning about innovative and sustainable solutions developing or co developing capabilities to specific to what their needs are even their their own manufacturing capabilities You know they have to choose who they work with. Because without it's not a company like now it's not just buying products it's it's also the innovation partner. Who do they want to partner with and then ultimately transacting or buying using products and solutions. Which in my mind are really just digital table stakes that we have to be prepared for so we've really been focused on. You know the tools that we can put in customers hands so they can Select us help them. Select us and You know we're also using a lot of data.
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"carmax" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"Integrate Sweeping the company also with biggest partners digital innovators that we integrate very quickly to offer new digital services ws for our customers and our associates. Today peter amex runs like digital technology organization. What innovating has to the ever or proteins are experimenting hundreds of new capabilities or experiences with customers our associates and that's creating leave new lines of businesses creating new activity having a lot of wonderful business benefits of the result. Doubt very interesting a melanie. Let me turn back to you. If i may You talked about the change to the service orientation you talked about some of the specific areas you focused on and some examples of how how services were defined and bit about the people end collaboration implications of that talk a bit about some of the other of process changes that have been necessary in order to bring that to life. You would and. I think. I need to start with. The dow is a material science innovation. Company were a big manufacturing company. And you know it became very clear. I think to more people through the pandemic because we focus on creating products that people needed during the pandemic whether that's gpa or hand sanitizers disinfectants iv bags packaging and a lot more and that you know just through that that urgency to get products sal. We really focused on making major shifts and pivoting our processes from being internally focused to looking through our customers lands and leveraging really using the new digital technology and capability.
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"carmax" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"What it takes to deliver and maintain the service and now we also have digital strategies in each of our businesses that are aligned across the markets. They serve really allowing a common doubt instead of everyone having kind of a different view in approach so we took that opportunity. We look at it a little bit differently because of our product lines in the business that we're in but some some great change in in the organization. Well it's fascinating and i. I love that that service orientated. That you've talked about and and bringing together people from from across traditional silos in order to bring bring that to life. Thank you for that overview shamila turn to you and i must give credit where credit's due the whole topic of nimble the title of my book in many ways the genesis of that conversation. I had with you in late. Two thousand sixteen. Whereas i asked you as i often do at the conclusion. My podcast interviews. What trends excited you. You offered a couple of answers. But then you said ultimately if i look three or four years out the number one trends may be something you and i can't even name today and so i need to foster nimble organization and i thought gosh what an interesting way to frame that and you went a little bit further to qualify that. I wonder if you could talk about the journey that you and your team have been on especially from a process perspective in order to foster that nobleness within the organization such that when those new opportunities that we can't even name today appear perhaps in some cases almost out of nowhere that we're positioned well to pivot in sees those those opportunities more readily and computer. It's great to be with you. As always melanie to seal in one change that we could not have to take that sitting and december sixteen was the global pandemic Because we have appeared for the company for a change we actually able to navigate through this challenging pandemic in a in a as well as what can be so internal changes that we've gone through at our max remember back in two thousand fifteen sixteen. We were traditional technology organization. That was very well drum however the traditional. It organization was no longer good enough. We have to be a digital edition because world around us what changes so fast even without the global pandemic so that brought up taken wilde's focusing on making carmax.
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"carmax" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"On that side and really created teams that are accountable for delivering services cradle-to-grave with full budget accountability for existing solutions and anything new that they wanted to deliver their service and our services are focused on our core offerings like customer experience services. Employees experienced services. Enterprise system services security services in lenox services just to name a few to give you a feel for what i'm talking about if i pick on employee experience services. That team really has accountability for all collaboration tools. That are used across the company. Whether that's webex or office. Three sixty five or really teams and how we use that you know. Computers and mobile devices print services health services Search even hr services any service that our employees uses every day and each of those service teams really set their strategy for the year with a three year outlook. They drive the innovation as well as the cost optimization improvement based on service feedback so they have to get feedback on their services. They also drive adoption after measure progress and in really manage their team size so everything around delivering that service. But in addition. I think the unique thing is i aligned each of my leaders to a business unit as well so they wear dual hats..
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"carmax" Discussed on Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
"So wow what a. What a remarkable several years. It's been during your time and your tenure as chief information officer dow has been through major acquisitions. It's been through multiple major Divestitures as well yours is an organization generally speaking but an it organization more specifically that has had to foster a tremendous amount of change and stand up as well as spin out a lot of parts of the organization and think about the people process and technology implications of each of those things. I want and what one of the fascinating changes that you've ushered in is a changing. It's orientation more towards service delivery. And i wonder if you can take the story from there and talk a bit about i. Why maybe talk a bit about the specifics of service delivery as as it's defined within your organization as well as some of the methods you have used in order to bring that about scherer. Thank you peter and happy to be here. You have been through tremendous change over the last few years with the Like you said the merge of two companies and spin out of three companies which davis a great opportunity to drive changes and really Early-on start driving some of our digital transformation which put us in a really good position As the pandemic But one of the key changes from as an it organization we help drive. Change across the whole company Several years ago. When i took over as cio we put a strategy in place which was really a not an it strategy it was really a it strategy for the company or the organization and as part of that we really changed our approach To how we how we execute in in in nis we focused on the customer experience the employment experience and working at the speed of business and we really went into our approach to devops very differently from others that we've in that we've designed our approach around services versus products and i think that's really based on the nature of our business in the products that we sell and i went in and flipped everything we do in it.
Technovation with Peter High (CIO, CTO, CDO, CXO Interviews)
CIOs of Dow and CarMax Drive Process Modernization at Scale
"Let me begin with you melanie please. So wow what a. What a remarkable several years. It's been during your time and your tenure as chief information officer dow has been through major acquisitions. It's been through multiple major Divestitures as well yours is an organization generally speaking but an it organization more specifically that has had to foster a tremendous amount of change and stand up as well as spin out a lot of parts of the organization and think about the people process and technology implications of each of those things. I want and what one of the fascinating changes that you've ushered in is a changing. It's orientation more towards service delivery. And i wonder if you can take the story from there and talk a bit about i. Why maybe talk a bit about the specifics of service delivery as as it's defined within your organization as well as some of the methods you have used in order to bring that about scherer. Thank you peter and happy to be here. You have been through tremendous change over the last few years with the Like you said the merge of two companies and spin out of three companies which davis a great opportunity to drive changes and really Early-on start driving some of our digital transformation which put us in a really good position As the pandemic But one of the key changes from as an it organization we help drive. Change across the whole company Several years ago. When i took over as cio we put a strategy in place which was really a not an it strategy it was really a it strategy for the company or the organization and as part of that we really changed our approach To how we how we execute in in in nis we focused on the customer experience the employment experience and working at the speed of business
Clark Howard Show
"carmax" Discussed on Clark Howard Show
"Owing to tell you something. I was driving down a freeway. And i saw a billboard then that was like right it was a billboard for carmax and it said that carmax was giving you a thirty day to return vehicle for a refund. After you buy it. I was like was some kind of market test. Or what is this. So i get on car max website and it's the real deal bay facing a lot of pressure from carbon have really had to step up their game and now they're doing touchless deliveries and all this kind of stuff. Stead a carmax is original business model. Which was where you went to these giant parking lots and you went around with the salesperson and you would run around in a short test drive and all that so now. They're really trying to respond to the marketplace and carmax now is doing twenty four hour test drives which gives them a real leg-up on their archrival. Karvina where you no obligation you can test drive a vehicle for a full twenty four hour period and that fits if you think about something. I've talked about for the last. Oh i don't know twenty five years there when there is a model maker model. You're interested in that you go rent that car for a weekend or suv or whatever to really experience it which you can learn so much more than you can from ten minute test. Strive well carmax pay. You can go test drive a vehicle for a full day and then if you do buy it then you've got that month to decide whether or not you like it or not and if you don't as long as you don't go over the miles they allow you to go and stuff like that you just take it back. And say hey. This was nice not for me. And you're done. And what i love about what's happening in the dynamic part of the us vehicle market is it's all about focusing on what the customer wants and eliminating pain points carbonneau. Which i mentioned is one of the fastest growing companies in the united states and they keep losing money apparently but they are all about market share and the us vehicle market very heavily oriented toward selling used vehicles to people under age. Forty who buy a vehicle right on their smartphone and finance it if they want right on their smartphone and then you can go to these gimmicky. <hes> vending machines if you live in a part of the are you've seen the vending machines. They locate them on high traffic. Carter's usually by interstates and you go in. And you put the special token in there and the vehicle comes down an elevator and you get in it and you drive away and so it's pretty crazy. You also have the right to return a carbon vehicle for seven days and what's happening in the us. Vehicle market is the market share of traditional dealers who play the rough and tumble games and second. You leave the what you're stuck with. A piece of garbage used vehicle would no right to return and all that they are steadily. Losing market share to <hes>. The car maxes and carbon and the imitators of the two of them that are popping up around the country. I was very disappointed. In one of the large traditional dealer. Groups is now opening their version of a supposedly customer-friendly us vehicle lot in more and more cities particularly around the south and the west. And they don't give the customer friendly things of clear pricing the right to return for a full refund for all all of that and so traditions die hard and industries but when you buy a used vehicle know that still even though these players that are customer friendly or the fast growing ones most used vehicles are still sold in the hostile anti consumer environment of their traditional used vehicle market. Be careful but i don't care where you buy your used vehicle. I want you to have it out by a mechanic of your choosing with a seller. Who allows you a right to return for a period of time for a full refund. When you're when you have that vehicle in your possession have it checked out during that time. If you're buying one from a traditional anti consumer dealer either a new car dealers used car that sandy consumer or a used car lot that sandy consumer you need as part of a condition of purchase to check out that van and have the vehicle checked out by mechanic prior to your commitment to buying a dealer will not agree to those conditions. They got something to hide. And that's not where you buy your vehicle.
Clark Howard Show
Buy a used car with a 30-day return policy
"Owing to tell you something. I was driving down a freeway. And i saw a billboard then that was like right it was a billboard for carmax and it said that carmax was giving you a thirty day to return vehicle for a refund. After you buy it. I was like was some kind of market test. Or what is this. So i get on car max website and it's the real deal bay facing a lot of pressure from carbon have really had to step up their game and now they're doing touchless deliveries and all this kind of stuff. Stead a carmax is original business model. Which was where you went to these giant parking lots and you went around with the salesperson and you would run around in a short test drive and all that so now. They're really trying to respond to the marketplace and carmax now is doing twenty four hour test drives which gives them a real leg-up on their archrival. Karvina where you no obligation you can test drive a vehicle for a full twenty four hour period and that fits if you think about something. I've talked about for the last. Oh i don't know twenty five years there when there is a model maker model. You're interested in that you go rent that car for a weekend or suv or whatever to really experience it which you can learn so much more than you can from ten minute test. Strive well carmax pay. You can go test drive a vehicle for a full day and then if you do buy it then you've got that month to decide whether or not you like it or not and if you don't as long as you don't go over the miles they allow you to go and stuff like that you just take it back. And say hey. This was nice not for me. And you're done. And what i love about what's happening in the dynamic part of the us vehicle market is it's all about focusing on what the customer wants and eliminating pain points carbonneau. Which i mentioned is one of the fastest growing companies in the united states and they keep losing money apparently but they are all about market share and the us vehicle market very heavily oriented toward selling used vehicles to people under age. Forty who buy a vehicle right on their smartphone and finance it if they want right on their smartphone and then you can go to these gimmicky. vending machines if you live in a part of the are you've seen the vending machines. They locate them on high traffic. Carter's usually by interstates and you go in. And you put the special token in there and the vehicle comes down an elevator and you get in it and you drive away and so it's pretty crazy. You also have the right to return a carbon vehicle for seven days and what's happening in the us. Vehicle market is the market share of traditional dealers who play the rough and tumble games and second. You leave the what you're stuck with. A piece of garbage used vehicle would no right to return and all that they are steadily. Losing market share to The car maxes and carbon and the imitators of the two of them that are popping up around the country. I was very disappointed. In one of the large traditional dealer. Groups is now opening their version of a supposedly customer-friendly us vehicle lot in more and more cities particularly around the south and the west. And they don't give the customer friendly things of clear pricing the right to return for a full refund for all all of that and so traditions die hard and industries but when you buy a used vehicle know that still even though these players that are customer friendly or the fast growing ones most used vehicles are still sold in the hostile anti consumer environment of their traditional used vehicle market. Be careful but i don't care where you buy your used vehicle. I want you to have it out by a mechanic of your choosing with a seller. Who allows you a right to return for a period of time for a full refund. When you're when you have that vehicle in your possession have it checked out during that time. If you're buying one from a traditional anti consumer dealer either a new car dealers used car that sandy consumer or a used car lot that sandy consumer you need as part of a condition of purchase to check out that van and have the vehicle checked out by mechanic prior to your commitment to buying a dealer will not agree to those conditions. They got something to hide. And that's not where you buy your vehicle.
MarketFoolery
CarMax profit, revenue rise above expectations
"CARMAX, second quarter profits and revenue came in much higher than expected. And the last time I checked the stock. It was down twelve percent. I was surprised by this because this was a really good quarter for Carmax I didn't see anything in their guidance to indicate that the next three to six months is going to be particularly perilous. Yeah I was also surprised they beat expectations revenue was up three point three, percent five, point three, seven, billion earnings were up percent last quarter they had implemented cost savings they had furloughed fifteen thousand workers, the CEO Bill. Nash Reduced Salary by fifty percent, they stopped new store openings like you said Chris this this quarter was really good for them. Their sales had bounced back by. Around June, we saw revenue growth, they're hiring seven, hundred, fifty people at their customer experience center they're planning to open stores. Again, the stock is up twenty one percent since the beginning of the year. So I don't know if it's more trying to temper expectations for the future, but it was a solid quarter for them. We've certainly seen that with other companies in other industries where. The come out with, results. They are somewhere on the spectrum of good to great but not. Off John Dropping perfect. And we see a little bit of a off just because you're to date the stock is doing well. I Dunno Carmax. I've the last vehicle. I bought was from Carmax. A couple of years ago had a very good experience. I would absolutely go back there again because I feel like they have. I don't want to say they have solved a pain point, but they have certainly made a pain point a lot less painful and I'm referring to the process of buying a car which for for most people, it's just trans. Actually we just want the car that we want and please don't make me go through the whole haggling Kabuki theatre thing because that's just awful. Yeah I have never bought a car I. Don't have a driver's license, but I will say I was I was interested in. How, they might have done in the last recession. So you can see if there are people who are listening economic service. If you look at the demand curve for normal products as income increases the demand for a product increases but with inferior goods are inferior products they do well in a recession because as income decreases demand for this product increases, and since Carmax maxell eighty, five percent of their revenue is used cars. It seems likely that they would be considered an inferior product. So if we see a recession in the future, they would be a company that would do well, and so I looked at. How they did in the last recession, and if you look at the stock from March twenty, two, thousand, eight to September Twenty fifteen, it returned two hundred, four percent compared to fifty percent for the S. and P. Five hundred. So I think looking forward and thinking long term about Carmax if you're thinking about the impacts, the long-term recession impacts of covid nineteen, this might be an interesting to think thing to think about is those inferior products versus those normalized product particularly in urban areas where you're a for people who have the means they're probably to be spending less time getting on subways if they can avoid it. I gotta say inferior goods as a categorization just sounds pejorative that sounds like something that the new auto dealers of America came up with yeah. It's not the nicest term and when you study, they'll say a bus is considered an inferior to car planes kind of insulting. But that is the technical economic term
Ramsey Call of the Day
I Owe $94,000 to the IRS!
"Joining me today Ramsey personality Chris Hogan. Caesar's in Chicago Hi how are you? Hey how you doing? How can we help? Okay little nervous here. first time caller first time listener. I. Last summer started listening to you. Laugh. Until far about a month ago emotionally on one hundred, thirty thousand dollars in depth, which is on ninety, four, thousand dollars. Irs I'm trying to do what I tend to To figure what's the best way to tackle this Most of most of the other stuff is car Karleena and credit card that I just weren't to Carmax this weekend and sold a vehicle which has some positive equity. Our sixty, five, hundred I. Don't know what to do with this money at this point. What in the world? How do you owe the IRS ninety four thousand? Salamanders Twenty fifteen twenty, sixteen business, you know I, I, started a business with my wife I pretty much try to manage the business myself. You know everything myself and I kinda school things up and didn't help that I had a bad accounting I concert the irs this to be issue I. If we have to file a ten forty x forum I'll try a man does taxes you know put this is in process I mean I still have to making some kind of panic because I'm getting some letters on a male as far as. Stop stuff. So you're saying that the returns were filed improperly and you may not actually Oh this money when you follow amended returns. Exactly. Okay. But if you you have, you have some money you said you had six thousand dollars from sale your car. Yes. Sixty, sixty, five now. And current him baby step two so I might stop just. You're going to spend some money right now on a tax attorney. Or a tax professional, that is a stud of some kind and If it costs you six thousand dollars, it won't. But if it costs you two thousand dollars, this is job one right now. Is You can you can take your hundred and thirty thousand and wipe out ninety four or a big portion of ninety four with some simple proper filing you don't do that yourself. That's how you got here. You go get a tax pro check Daveramsey DOT COM and click on our taxi LP's if there's not one in your area start shopping around talk to some business guys that are that are competent business people in your area ask them for advice on who a good tax attorney or a tax pro Israel and let them dig in. I I don't you don't need to do anything. You don't worry about me staff. No this is job one I R. S. Yes. Job One that's what you're doing and and Caesar make area focused. Don't come up with excuses. Pick up the phone call set up a time to go sit down, gather up, find out all the documentary going to eat 'cause you're going to have to do legwork here but trust me if worth it because it's dealing with irs. Yeah you. Sure you're a good tax professional can tell you if you need to get on an installment plan and. We need to do to get the barking dogs off your heel while you get this stuff filed. But Dude, you don't thirty seconds you get this stuff filed. Now this is an overdue time paper. and. You've. You know this is killing you and these people have unlimited freaking power. It is unbelievable what they can do to your life if they choose to cy I really really really want them To Go away. Yes I want you get the paperwork done and you don't have anything that's more important in your life for the next two of then get all of this filed as soon as possible. Don't don't drag it out three months. Don't drag it out two months file the stuff get with somebody get the work done. Yeah. You State you get you a cup of coffee and work into the work into the we hours of the morning at this done. What. You do because here's the reality some tweaking and the proper filings again has the ability to wipe some of this out. This is a this is a huge opportunity. Sounds like a good portion of it. Impugned it on him because he didn't do proper filing and they guest that's right in the irs never guesses low. It's a rule of theirs. It's written somewhere in a book I'm sure. Oh God. Penalties on this stuff and it all goes away with properly amended filing or large portion of it does. Get that the stuff you should have been working on all these long time ago. Yes. That's out of the way. Down to just forty thousand dollars a dad now go. That's right.
Clark Howard Show
Car dealerships are reopening and the pivot to in-person sales has begun
"That was area of the economy. It had been so stuck in the past. That changed radically in quickly because a corona virus is the car market. People very heavily pivoted to negotiating shopping negotiating and buying vehicles online, doing touch list delivery of new vehicle something that had never been. Part of the car business and of businesses that people really have historically not trusted. The car businesses it I mean this is. This is pitiful, and it does not square with the people I've met in the business. But a new Gallup poll. Finds that just nine percent of Americans. Said car sales people are. And Ethical. And that puts. Car sales people at the lowest level of trust, even below members of the US Congress. So. This is a business that has very little trust from consumers. And so people really liked. Buying vehicles with no pressure and buying them online. Well now as states have open back up. Bloomberg reports that car dealers. Trying to discontinue. The online access, not all dealers, but many trying to discontinue the online access and get people. In their stores. They have huge. Investments in those stores. And there's a lot of expense building. Those fancy two story show rooms there so. elegant now they've got the snack bars and all the things they have in those fancy show rooms and. If I'm a dealer and I spent all that money. I've done it because. It's a prophet machine. When you get people in there a lot of times, people will come in, and they'll drive away in a new vehicle. They didn't even have an intention. A buying met day and they don't comparison shop. So, it's been really terrible for dealers. With all the comparison shopping that people are doing now online. They're also buying less or known as packed. Add on charges buying online so. Dealers are realizing that they are able to squeeze more revenue out of every sale. Even with the higher overhead having people come in, and you're going to have dealers trying to lure you. Back into coming in before they talk to you about price or particulars. What I will encourage you to do is understand. Their incentive is different than yours. If you want to get the best deal without having the hassle. You WanNa. Do Your shopping online. You WanNa. Do your negotiating with multiple dealers, online or US one of the car buying process I've talked about, and if you look what's happening with the US vehicle market people under age thirty five. have no interest in going to a used car lot of a new car dealer going to a used car place or anything like that. They want to do it right on their phone. And, that's how car-o-van and and broom hit become players in the market and Carmax the nation's largest used car seller. has very heavily invested in having an online platform where people can buy a vehicle that way you know. A lot of dealers did it out in assessment because no one was buying. If, they had to come because a lot of states. You couldn't go to a dealer showroom. Because a corona virus earlier this year, but now. A lot of people once they've experienced how fantastic it is buying online! Or learning something from. been doing that for a while. And I hope that. When you are shopping for a vehicle, you'll follow my guidelines that I have at Clark Dot com on how you do it and get the best price and be very careful. Going to the dealer to make a deal, because if you want the best deal, it's going to be shopping online.
Business Wars Daily
Startup Blinker Tries to Take the Pain Out of Used Car Sales
"<music> uh from wondering i'm david brown and this is business wars daily on this monday august nineteenth come on is facing in life. There are some necessary transactions we know come with some pain. Filing taxes renewing a driver's license and of course selling or buying a used car. Hey look. I'm a car buff. I love him but even i don't like the hassle of haggling with buyers are wondering whether some stranger is good for the money and as a buyer don't even get me started on the process of financing used car dealership good heavens entrepreneurs no the used car marketplace's full tag and that pain translates into a lot of opportunities for high tech problem solving former denver car dealer rod buscher has been trying trying to simplify used car purchases since twenty thirteen when he launched blinker on his blinker app you can sell buy and finance a used car facilitated acilitator by artificial intelligence. It works like this say you want to sell your ford escape and buy something more eco-friendly well. I you take a picture the back of your car and upload it to the blinker. App up pops all kinds of info about your car. It's make its model. It's features like leather interior or satellite radio jio. It's accident history and an estimated value. You like the value so you listed for free blinker then shares that listing widely early but you don't like the idea of meeting strangers to show off the car the way you do with craigslist will blinker deals with that scary problem by verifying buyer's driver's licenses all conversations between buyer and seller happened on the app so you never have to share your phone number or email so you find a buyer but you still have a loan on the car well now what blinker pays off the loan and electronically transfers the prophet to you. If the buyer needs financing she can get get it through blinker which acts like a bank in fact. That's the way blinker really makes its money. It doesn't take a cut of the sale today. Blinker is tiny with estimated sales last year of about a million and a half dollars earlier this year at laid off close to half of its fifty person staff butcher says it was trimming down in anticipation of capital raise. The company raised ten million dollars late last month and plans to expand nationally but right now you can only use blinker in colorado texas california. Ah -fornia and florida lest you think this sounds too good to be true. Well there is one big caveat. Blinker is one of many companies trying to capitalize on the obvious that the used car marketplaces so flawed that there has got to be a better way at least a dozen app vendors wants your your business some with names of five year old car would love broom tread shift and instant motor another to not at used car divas reputations notably the apps apps truecar and fair blinker has a long way to go to beat one of its best known rivals carmax carmax. Let you search some fifty thousand vehicles vehicles for sale in contrast to hundreds on blinker of course when you're selling you may be better off as a big fish in a small pond right well. Carmax sends sends alerts when the price drops on the car. You're lusting for but unlike blinker. You can't actually complete the entire transaction on the app. Little tiny blinker had about six thousand downloads in the last month according to crunch base but given its focus on convenience and it's new funding it could soon become a real player in the national used car marketplace and perhaps help transform a dreaded experience into something kind of thought from wondering this is business war standing. Have you used an app to buy or sell far which one tweet us at business really wanna know. Thanks so much for talking back with this and for listening every day. I'm david brown. We'll be back with you tomorrow <music>.
Business Wars Daily
You Can Buy a Car from a Vending Machine. But Should You?
"Business wars daily is brought to you by net. Sweet the business management software that handles every aspect of your business in an easy to use cloud platform net sweet has a special offer for listeners of this show at net sweet dot com slash BW daily. Be sure to stick around to hear more about it at the end of the show. I'm wondering, I'm David Brown. And this is business wars daily on his Tuesday, April thirtieth in a growing number of cities across the country. You can stick a coin vending machine and get not a candy bar or a coke? But an automobile. That's right. You can buy a car from vending machine in seventeen cities across the country and online only used car dealer called carbon is behind this spectacle. Eight story glass garages that house gleaming used cars purchased the car sign all the documents. Virtually of course, and carrano will give you an oversized coin, you take that co two carbon as vending machine slip it into a coin slot and watch as your new car is lowered through the glass cage and spun out the door right to you. It's flashy. That's for sure designed to capture attention and attention. It is getting Carbonneau was founded in twenty twelve by Ernest Garcia a convicted. Felon who is also a billionaire Garcia spun carbon out of drivetime used car company that courted controversy by selling auto loans to low income purchasers. He took on public in twenty seventeen. There's no haggling here. No used car salesman. At all you make your choice by viewing photos in examining specs online. You can finance your car through carbon. And most customers do once you take delivery. You have seven days to return vehicle. You don't like carbon operates about one hundred twenty cities most without the flashy vending machines in the rest of its locations. It's simply delivers vehicles to buyers online sales, plus low prices are adding up to revenue growth for the car dealer. But they're not adding up. Two prophets Koran is losing money as it tries to compete with well established nationwide chain carmax carmax has two hundred three showrooms and continues to grow but the same forces that make Carver. China appealing to younger buyers are pushing carmax to make changes to last month. Carmax CEO Bill Nash said he was most excited about a growing Omni. Channel approach that is where customers are able to shop online in showrooms or by using what he calls a seamless combination of two, and perhaps that's what buyers need their choice of how to shop finance and take delivery of used car rather than being railroaded into one process or another a misstep by Elon Musk might be instructive here. Remember back in February when he announced that tesla would move to online only sales people were outraged and must quickly softened that stance. It seems many people still want to touch the leather seats in look under the hood. And ultimately, those desires may push von beyond its vending machine approach or it could make the company's glitzy efforts short-lived. Rum. One three this business wars daily. Hey, Dr on over two one dot com slash survey widget. Tell us a little bit about yourselves. Thanks so much. I'm David Brown or we'll be back with you tomorrow. Every company battles challenges as they grow updating manual processes, replacing inefficient systems getting a handle on cash flow as you scale, you'll need software that can handle that growth introducing net suite by oracle the business management software that handles every aspect of your business in an easy to use cloud platform with nets wheat, you can save time money and unneeded headaches by managing sales, finance and accounting orders, and HR instantly right from your desk or even your phone right now net suite is offering you valuable insights to overcome the obstacles that are holding you back for free. Those insights come and guide called crushing the five barriers to growth. All you have to do to get it for free is to go to net sweet dot com slash b w daily again get net sweets guide crushing the five barriers to growth when you go to net sweet dot com slash. B w daily now. One more time net sweet dot com slash VW daily.
Bloomberg Best
CarMax shares jump 3.5% premarket after earnings beat estimates
"Community tax who's your tax guy delta airlines is banning pit bulls service dogs on its flights some passengers are reacting angrily to a decision by delta that is no longer allowing passengers to fly with pit bull type dogs as the airline calls them as service or support animals the airline announced the ban this week and said they were responding to growing safety concerns after several employees were bitten delta also says they are limiting passengers to a single emotional support animal fight the changes take effect on july tenth the decision has sparked an angry backlash on social media and some experts say it will be tough to figure out exactly what breeds delta means when they say pit bull type dogs i'm john stolnis superheroes have come to the rescue of hollywood this year's box office profits up six percent from this time last year thanks in part to the recordsmashing heads avengers infinity war black panther an incredible two i'm ann cates i'm doug krizner at bloomberg world headquarters in new york the us equity market finished mixed on a day when president trump threaten new tariffs this time twenty percent on cars imported from the european union not surprisingly many of the european automaker stocks traded lower auto parts suppliers also finished down bloomberg's david wells tells us if these tariffs are enacted european carmakers will face a big challenge in the us has twenty percent even for for an expensive vehicle ecommerce cities it's just very difficult to do so you ended up either eating the prophet or you have to leave the price there and just deal with less volume and then auto factories are geared up to build a certain number of cars and if they so listen at the factory tends to lose a lot of money at the same time russia threatened the us with retaliatory tariffs on steel and aluminum imports russia's said american cars could soon face higher levies we had shares in the used car retailer carmax jumping more than twelve percent the company reported earnings above estimates energy shares followed the price of crude higher wti new york was up more than five percent that's after opec reached a deal to boost output that was less than the market had anticipated however software shares fell after red hat reported disappointing results the company also dialed back it's revenue forecast shares in red hat were down more than fourteen percent the weakness in infotech pulled the nasdaq composite lower by three tenths of one percent the dow on the other hand was higher by one half of one percent and the sp finished up two tenths of one percent ups has reached a tentative labor agreement with the teamsters this is a major step toward averting a strike when the current contract expires at the end of july in late us trading the us ten year treasury quoted at a yield of two point eight nine percent global news twenty four hours a day on air and a tick tock on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries this is bloomberg this is bloomberg best bloomberg best is about the insight and the context get from our guests it's a great way to catch up on some of the stories you might have missed on the bloomberg stories you're not going to find in any other news organizations bloomberg best bloomberg's best stories of the week powered by twenty seven hundred journalists and analysts in more than one hundred twenty countries around the world i'm also i'm at baxter on this edition of bloomberg best we'll have a special hour with goldman sachs ceo lloyd blankfein with the discussion of global markets us interest rates and trade relations between the us and china i don't think we're in a suicide pact on this so i suspect that we're not going to cause the communist collapse with a no on steroids but i do think that what's going on i think as some people have commented that this.
This Is Only A Test
Valve's next-gen VR controllers are going out to devs for development
"To render video if you were able to move your head around and that would be something we haven't seen before right right and i think a lot of the benefit of the visual style of this being cartoony and also the the motion and action being focused in one place you're not seeing a lot of things happen behind you don't have to compensate for that in the data stream it's three sixty sixty ps and it maximizes those five thousand pixel across yes so as you were saying when you turn your head you can see the higher resolution video resolve and that's because of carmax new magic way of rendering this video which is in strips there's a complete to video that wraps around you at all times but then whichever direction you look at it pulls in from three or four other videos they hi rez data for that area that's why it's a pretty big file five gigabytes is big yeah i thought it was but it's big for this film it's probably bigger than the real time execute able was yes they assets but this is i think he's taking lessons learned from like rendering on us rage right like his just mega texture just render what you can see to which was the way that they did quake or right super cool on the vibe side couple actually big announcements via a while ago opened up for vr controller mapping so taking your whatever existing vr controls you have whether it's vibe ones or the oculus rift controllers and then letting developers and users map the actions and buttons on those two keyboard mouse game pad so you could basically port games to vr easily now they have something called steam vr skeletal input and this is basically helping developers and users map their gestures or hand poses in their existing controllers to hand presence to skeletal models what so you got open the link so basically you can you can on like the vibe one right now you have on on the vibe on you have the big touch pad yeah right and what you do on the touch pad where your finger is placed on the trucks bad is mapped essentially to wear your thumb would be in hand presence vr okay you can now make those gestures tied to other types of hand poses like like like macro exactly like macro okay this is you don't have perfect one to one right mapping on the controllers and we know that you don't need perfect one to one to make the to have believable hand press now that you're never going to get people going to buy into this unless it's natural i it's gonna feel more natural than you think the whole thing about touch is that when you point it it points and the where your fingers it's still cheats is still cheats bit yeah because you don't have pinky tracking right right so this allows you to customize for your game like your spiderman game where the pinky how the pinky would stick out when you press the button when you're when you're doing web slinging i'm curious what the process to to learn program that like looks like and how long it takes because that'll speak to what jeremy's it has to be natural for it to really this bearing the lead for their support for their new thing because none of those controllers of wand or the oculus control are essentially as good as what they haven't development which is our knuckles controller i'm glad to hear it still development for not only is this development there's.