35 Burst results for "General Motors"
AP News Radio
'Park outside': GM recalls 40,000 pickups to fix fire risk
"General Motors has issued a recall and a warning for certain newer models Chevy Silverado trucks because of a fire hazard. Here's an important warning for those who own certain Chevrolet Silverado medium duty pickup trucks. From model years 2019 to 2023. The vehicles may have a brake pressure sensor assembly that allows brake fluid to leak, causing a short circuit which could lead to a fire. Either when the vehicle is moving or when it's parked, owners are being urged to keep the vehicles outside because of the fire risk. Don't park them in a garage, which can catch ablaze. The recall effects tens of thousands of 4555 165 hundred HD models, which again should not be parked near a structure until the issue is repaired. The trucks built before a model year 2019 have a different design, and they are not affected. I'm Jackie Quinn
AP News Radio
Robotaxis aim to take San Francisco on ride into the future
"Two ride hailing services hope their robo taxis can take one of the most densely populated U.S. cities on a ride into the future. Both crews have subsidiary of General Motors and Waymo a spin off of Google are seeking regulatory approval to transport passengers around the clock in San Francisco in driverless cars. However, both services are dealing with complaints that their vehicles are stopping unexpectedly, creating traffic stops that inconvenience other drivers. The unexpected stops are absolutely an issue. Nico larco is the director of the university of Oregon's urbanism next center. What's more or less telling you is that the vehicles have not quite yet figured out how to operate in tremendously complicated environments. But crews, CEO, kyo vote, says the technology in their driverless cars is getting better. It's improving at a pretty rapid rate. And that's one of the beauties of this kind of technology. Both crews and Waymo say their driverless fleets have each traveled more than a million miles without a major accident. I'm Mike Hempen
AP News Radio
About 5K GM salaried workers take buyouts, avoiding layoffs
"No need for layoffs at GM after many workers take buyouts. About 5000 white collar workers at General Motors took the company's buyout offers, so the automaker says that's enough to avoid layoffs at this time, in a statement GM says the offers will save about 1 billion per year in cost about half of the 2 billion. It wants to cut annually by the end of next year. The company now has about 58,000 salary workers in the country, the buyouts come at an uncertain time for the auto industry, which is in the middle of a transition from internal combustion to
AP News Radio
GM offers buyouts to most US salaried workers to trim costs
"General Motors is offering buyouts for most of its salaried workforce. In a push to cut costs as it steers toward the goal of making only electric vehicles. General Motors isn't saying how many salaried U.S. workers and overseas executives are being targeted, but the goal is to speed up attrition to cut $2 billion by the end of next year. It comes at an uncertain time for the auto industry. Transitioning from internal combustion to electric vehicles. GM's goal is to be all electric by 2035. So it needs to invest more in research and development and capital outlays for battery factories and updating assembly plants. GM, CFO says the workforce cuts will also help prepare for any potential economic downturn or recession. General Motors has some 58,000 white collar workers in the U.S.. I'm Jackie Quinn
Bloomberg Radio New York
"general motors" Discussed on Bloomberg Radio New York
"This is about to power on Bloomberg television and radio. I'm David Weston, who believe all the reports, sooner or later we're all going to be driving electric vehicles. And if that's true, we're going to need a lot of batteries, and that means we're going to need a lot of lithium. We turn now to somebody who's on the forefront of trying to make sure we have the lithium we need. He's Jonathan Evans. CEO of lithium America is welcome. It's great to have you here, Jonathan. Thanks, David, really appreciate me on your show. So tell me where you are on your facility. You've got the biggest one in development. You're not online yet, but where are you in the process? We're fully permitted, ready to move ahead. I think you probably heard is what we had a landmark investment in partnership with General Motors. Who's going to be our stakeholder and largest shareholder going forward and we're ready to start construction. It's the largest asset in North America third largest in the world right here in our front yard. And you got past a fair amount of litigation as I understand it, over environmental issues. Some people raising some adjusted those all behind you and assuming you've got a clear path now. How long before you actually are up and running? We are, we're actually through permitting state permitting federal permitting. We had a permitting process that was about two years. We had an appeal process, which was another two years on top of that. And you're correct. The judge issued a very large ruling about 50 pages and basically rejected all of the issues that were brought up, which I think speaks a lot for how we've developed this project in terms of being very sustainable in line with the community needs. It'll take about three years to build a project. So production would start sometime late in 2026. And the next question will be asking is probably how many cars that's going to be exactly right. I said a million cars a year by 2025, I think. Yeah, we won't be able to do quite that much with first phase. It's going to be around 750,000 cars, but really excited to be supporting General Motors in their strategy going forward. You mentioned the General Motors substantial investment. We're going to talk to Mary Barr actually later today. When you're fully up and running and assuming this all goes the way you plan, are you going to be the exclusive provider to General Motors? I mean, what's the relationship there? The offtake for the first ten years is theirs. They'll be purchasing their lithium chemicals from us for use in the U.S. with the ultimate factories that are being built in the Midwest. Is it all that they need? Probably not actually I hope not. General Motors, I think, is really going to be growing market share in the space and has been very forward looking as evidenced by this deal. So the likely have other suppliers besides this as well, just given how aggressive I think their growth plans are. Do you see a day in which automakers with the General Motors are just fully integrated? They basically own the mindset to become minors, in fact. I don't think so. I think the structure of the General Motors deal is unique and actually there was one announced today from LG and another project in the U.S. where it's actually common shares in the company. So General Motors are a largest shareholder and an important stakeholder for us by virtue of that. Their strategy is an extension of our own. But they're actually not operating facility, but it's super helpful in terms of they're helping finance it. And of course, we have a market at the end of that for the first ten years. Their main customer will be for us will be then. We talk about you as mining, but you just told me that in fact, you process as well. So you're fully from the mining to actually delivering the chemicals as they can be using the batteries. That's right. If you look at the capital cost about 10% as the mining really worth most heavy expenses and really with the most complicated pieces are in the processing, what comes out of that facility in Nevada is essentially almost a pharmaceutical grade product that's ready to go into a cathode. So what's currently done in South America and Australia and then shipped to China to be processed is going to be done right here in northern Nevada and the U.S.? In success, a few years out, can we produce and process enough lithium for the United States manufacturers right here in the United States? And North America by 2030, I think it's highly doubtful. If we have a half a dozen projects between the U.S. and Canada that are operating, I think we'll be doing well. I think the U.S. supply chain or North American supply chain is going to be a combination of domestic resources, coupled along with ones that will the U.S. policy that's out friendly nations, foreign trade agreement nations and nations that are aligned with I think the west, if you will. And I'm going to assume that it's includes Australia because what about Latin America is you have facilities in Argentina. We do. So Argentina doesn't have a free trade agreement with the U.S., although they do supply the U.S. through another lithium company that operates today in the U.S., but Chile has a free trade agreement with the U.S. and Chile has very large lithium reserves as well. So absolutely South America will be part of the supply chain. One of the things we've heard an awful lot about, including from the administration, is the so called inflation reduction act. And the incentives it provides gives a sense from your business plan, how that fits in if it does. How is it changed your investment? Absolutely has a huge impact. And I really kudos to the administration for this industrial policy. I think it's helped energize the sector. There's two pieces to it. Of course, this off talked about tax credits for the industry in terms of the critical minerals and the batteries piece, the $7500. But also there's a production tax credit for producers like ours, which really helps to attract investment right here in the U.S.. It's a 10% production tax credit. Unlike the vehicle tax credit and the battery attacks credit, there's no sunset on that. So I think there's been some static maybe from other parts of the world around how this is leveled the playing field. It truly has. I think that's part of the administration's aim out of this is to really interact investment like this jobs like this and how you get better national and economic security. So at this point, it feels almost like this is a startup as it were to get going. What about immaturity? What is this industry look like? Because if we believe all the reports, it's going to be like a hockey stick in terms of the demand for lithium and the production. We're going to see a lot of consolidation among lithium producers. I believe you will. Again, the General Motors investment, I think, is probably going to start like the one you saw today will probably be the others. I believe the chemical sector will get involved in this as well because we're not really a mining company. We're especially materials and chemicals company. I also think you'll see oil and gas companies get involved because some of the work that we do has a lot of parallels in terms of exploration development and their large chemical process, petrochemical projects that have some parallels to this. It's a fascinating area. Please come back and report to us as it develops Jonathan. It's good to have you here. Jonathan Evans, he's director of president and CEO of lithium Americas. Coming up, what we learned today about that grand jury in Georgia looking into the case of fake electors
Bloomberg Radio New York
"general motors" Discussed on Bloomberg Radio New York
"It is 5 53 on Wall Street, General Motors expects its earnings momentum to grow this year on higher production volumes after reporting a better than expected profit in the last three months of 2022. Today, the company said it was counting on continued demand for its highest profit margin SUVs and trucks. It also increased vehicle production levels as pandemic era supply chain problems fade. General motor shares today rallied by just about 8.4%. An update for the Dow, the S&P and stack on now to the trading month of February with the S&P for the month of January up by just about 6.2%. ExxonMobil reaped a record $59 billion annual profit, but disappointed some investors by holding the line on share buybacks, ExxonMobil shares today did climb by just about 2.2%. Boeing's CEO Dave Calhoun says it's a matter of when and not if self playing a self flying planes will debut in commercial aviation. Dave Calhoun said in a Bloomberg radio interview, the playmaker's autonomous flight technology being developed for military applications will eventually appear on commercial aircraft in the future. Caterpillar missed the mark in its quarterly earnings this morning, caterpillar down by three and a half percent also after earnings this morning, McDonald's had stocked today lower by 1.3%. And those are some of the company's stories were following I'm Charlie palette, and this
AP News Radio
US opens probe of Cruise robotaxi braking, clogging traffic
"There's a probe of Cruz robo taxis breaking and clogging traffic. I'm Lisa dwyer. U.S. safety regulators are investigating reports that autonomous robotaxis run by General Motors cruise can unexpectedly come to a halt potentially stranding passengers. The national highway traffic safety administration opened the probe after three reports of cruise autonomous vehicles, breaking so hard that they were rear ended by other vehicles. At the time the robotaxis were staffed by human safety drivers, there are also multiple reports of cruised robo taxis without human safety drivers becoming immobilized in San Francisco traffic, possibly stranding passengers and blocking lanes, Cruz says its cooperating in the probe and that nearly 700,000 autonomous miles had been driven with
Squawk Pod
"general motors" Discussed on Squawk Pod
"It's a critical time, a narrowly averted rail strike record high inflation political division, the list of challenges facing CEOs is stark. BRT CEO and one time White House chief of staff, Josh Bolton, said the worries of a possible recession are top of mind. Our survey only covers the next 6 months. So at least over the next 6 months, I think what you're seeing is a group of CEOs who are largely very cautious, still hopeful that there can be some kind of soft landing in the economy. And most of them are still still hiring and investing to at least to some degree. General Motors, CEO Mary Barra chairs the business roundtable. She runs a nearly 120 year old company, a stalwart of American business with more than a 150,000 employees, and in this podcast you'll hear her thoughts on labor, immigration, the supply chain, the health of the U.S. economy and so much more. This next interview was recorded on location at the business round table annual meeting in Washington, D.C.. There she is. How are you? I'm good. How are you? Mary, good morning. Good morning. She sat down with CNBC squawk box anchors, Joe kernan, Becky quick and Andrew Ross Sorkin. Great to see you. Great to be here. Thank you. Thank you for having us. Well, thanks for coming to Washington. Great conversations. Help us understand what's happening in the auto industry. What's happening with the supply chain, what's happening to prices, we're watching a used car prices. Everyone's trying to understand this is a barometer for everything else. Well, we're watching it very carefully too. I mean, if you look at the industry, we're in the midst of probably one of the most significant transformation in the last hundred years. When you're looking at how the vehicle is changing, not only from a propulsion system to electric, but also from a software defined vehicle. So there's a tremendous amount of change going on. And then we have the added challenges of semiconductors and other supply chain challenges. And we've really the supply chain has been stretched to its limits, really since the start of the pandemic. So we still continue to work through those issues. It's getting better. I would say every quarter, it gets better, but I predict we'll have those challenges into 23. But what is 23 look like? Both on the supply chain issue and then to the extent that every CEO says a recession is coming, but some people think they don't feel it. How is that going to impact? Do you think demand by the time you actually get there on the other side? Well, we're planning for a fairly conservative 2023. But what we're seeing right now is we're still seeing strong pricing and low incentives and we're seeing customer band and I can't talk about for the whole industry. But definitely for our products. And we have a lot of new products our new full size truck. We're going to be launching heavy duty and midsize trucks next year along with the Hummer will ramp up the lyrical ramp up. And then we have the Chevy Silverado, the Chevy Equinox and the Chevy blazer. So we have a really exciting product lineup next year for both internal combustion and electric. And so we're trying to make sure we're being conservative and how we plan for cost. But there's still pent up demand. So a lot is going to depend on what happens to the economy. I'm not going to call a recession. That's for economists to do. But right now, we're still seeing a pretty strong consumer. But I think what I Andrew is kind of getting to is we've seen the consumer move so rapidly where they were buying hard goods buying furniture buying things because they couldn't travel and they couldn't do services. We saw them leave and start spending on all kinds of other things and those industries got shocked by how quickly the demand went away. Are you preparing cautiously for demand on that picture too to make sure that that same sort of collapse doesn't happen to you guys? Absolutely. And that's why we're taking a conservative plan for next year. But with the ability to seize upside if it's there. That's the plan we have for next year, and we believe in our product portfolio. I love escalades. I like the trucks, big profit margins, but they do guzzle a lot of gas. Is that okay? Can we keep making those? Should we want gas prices to come down or should we be like Europe and try to tax them in migrate people to the bolt or to smaller cars? How do you think of that? What should we be doing? You want to do both. Well, you know, for the time being, I think we're the only full line manufacturer that has said we plan to be all electric with our light duty vehicles by 2035. And we have the Hummer. So if you love the escalate, I mean, driving a Hummer, it's a super truck. Four wheel steer, it's incredible. But next year we'll have the Chevy Silverado shortly after that, we'll have the GMC Sierra. So we're going to give people the opportunity to keep in the segment they want. If they want to drive trucks, they can, for a while, continue to drive internal combustion. They'll have very credible electric trucks. What's going on with dealers right now, especially when it comes to EVs because there's been a little bit of a battle going on between, for example, Ford. And their dealers selling EVs, the investment that it takes on the dealer side, where do you stand on this? So we've been working for several years with our dealers. We recognize to change what's coming and we need it in the consumer was changing and how they want to do business. Some want to do everything online and some literally want to go to the dealer kick the tires and have a conversation. We're providing for all of that. We've worked with our dealers and we also with our changing the business model that we can together we've worked to take cost out of what it takes to sell a vehicle so we can both improve that. So first of all, I'm grateful for our dealers. They've done a great job taking care of the consumer through this whole period. We're going to continue to partner with them. And I think people will finally realize there are competitive advantage. The other piece of this is the debate in Washington right now, president Macron was just here talking to President Biden about it, which is the subsidies that are being provided to the American car manufacturers relative to the subsidies that are clearly not being provided to the foreign car manufacturers. Do you think that's going to change? Will that have an impact on you? Well, let's first understand IRA is going the incentives and the tax credits are all for people who are investing in the United States. It doesn't matter if you're a U.S. or a foreign environment where we talked about friend shoring and who are friends are and that's where this comes into play, right? Yeah, I think they're over time. We'll find solutions, but I think if you look at what the intent of IRA is to provide an opportunity that EVs are affordable for the American consumer and that we create jobs in this country. General Motors even before IRA was investing, we have a battery plant up and running in Ohio. We'll have another one in Tennessee next year. One in Michigan, the following year. We've invested billions in plants in the U.S. to build our electric vehicles. We're also working to onshore as much as we can, battery components. And so we're investing in the United States. We're investing in the economy. When you sat down and talked to you about the Corvette and you still spend money designing new cars because that is something it's always been that way. And it should be that way. I think I can remember how many camaros that I've loved over the years. And then I guess the elephant in the room was the T word. It Tesla does it differently. That monolith has looked the same for years and years and years. Is it expensive to keep it was worth it for the Corvette for you? I'm telling you. I love those new Corvettes and also dealers. Will you always have dealers? Well, yeah and I think dealers are a competitive advantage because someone needs to take care of the vehicles. You know, if you look at our dealers, General Motors has the highest customer loyalty and industry in the United States and our dealers rank very high in sales and service satisfaction. When you get to people who are buying EVs that it's the only vehicle they have, they need to know that vehicle, if there's an issue that it's going to be fixed quickly. And that's where our dealers are a true strength. And so I believe dealers will be a part of it again. We're adapting because the customer is changing. But then as you look at, it's about having the right vehicle. It's one thing when they're early days, you can limit, but we're full line manufacturer. We need to have vehicles from a super truck like the Hummer all the way to a very affordable vehicle. The Equinox electric equinox will be about $30,000. That's the heart of the market. But your mass produced EV for to get to the low price points. You won't need to change that every year and get a sense. We don't change every year now. And I think is happening because I mentioned earlier, the vehicle is really becoming a software platform. You can do a lot to enhance the vehicle without
Bloomberg Radio New York
"general motors" Discussed on Bloomberg Radio New York
"Minister Rishi sunak saying the golden era of UK China relations is over, but that he wants to engage with Beijing. I'm Joan doniger, telling WWE listeners in Detroit that General Motors dealerships have a growing business repairing teslas. Those are some of the stories are 2700 Bloomberg journalists and analysts are working on this morning around the world. It's 5 39 on Wall Street. The following is an editorial from Bloomberg opinion. This editorial was written by the Bloomberg editorial board. President Joe Biden has often described his plan to cancel some federal student loan debts as a game changer. And in one sense, this policy has proved transformative. But by making a bad system worse. Biden's plan would provide $10,000 in relief to individual borrowers with annual incomes of $125,000 a year or less. But a federal appeals court recently ruled in favor of 6 Republican led states that opposed loan forgiveness. So with its plan stalled, the administration has resorted to a fallback, extending a freeze on federal student loan payments, which has been in place since the start of the pandemic. It's difficult to overstate the folly of this decision. Freezing student loan payments made some sense during the early months of the pandemic, but there's no such justification now. Biden has decided to double down on a costly mistake. This editorial was written by the Bloomberg editorial board for more Bloomberg opinion, please go to Bloomberg dot com slash opinion or OPI N go on the Bloomberg terminal. These has been Bloomberg opinion. And you can hear Bloomberg opinion editorials every weekday at this time. Terminal customers can read more at OPI and go. S&P futures are up 13 points. Sound features up 43 NASDAQ futures up 64 points. This is Bloomberg. The Alzheimer's associate
AP News Radio
GM CEO Barra says electric vehicles to be profitable by 2025
"GM's electric vehicles might be profitable soon General Motors expects its portfolio of electric vehicles to turn a profit in North America by 2025 The profit prediction is on a pre-tax basis that includes capital costs as GM boosts battery and assembly plant capacity to build over 1 million EVs per year GM CEO says the profit figure includes vehicle cells revenue benefits from emissions tax credits and revenue from software and part cells profit margins are expected to be slim in the beginning but are expected to go higher once clean energy tax credits from the federal inflation reduction act are applied The company plans on selling only electric passenger vehicles by the year 2035 GM CEO has pledged to sell more EVs in the U.S. than market leader Tesla by
Parts Counter Gurus Podcast
Bucees Mascot
"Jay, have you heard of Bucky's? It's a fuel station. Oh, yes. Yes, I have. It's the new thing in Florida, yeah. So they're in Tennessee as well. They're moving up. I think they're kind of like the armadillo. They're finally making their own out of floor. Yeah. So these things are massive. For those of you that haven't seen one, it is bigger than any truck stop. I've ever seen. The number of gas pumps, I mean, you're in the probably close to a hundred pumps. That's insane. I mean, it's crazy, right? They're big, like, full on restaurant. Freshly made deli their stores inside. Like you can buy camping gear. It's bigger than some of the bigger little Walgreens, bigger than smaller than a Walmart or a target, but these places are huge. Which I have to wonder with the electric vehicle mandates being out there. And these places being so petroleum dependent for business, what's their long-term vision. But I digress. So pull up and pull up in a Google tab right now. And this is what I want you to type in. Okay. Bucky's mascot. It's be UC EES. Bucky's mascot. Okay? And you should see a picture of the little guy there in the results. Yeah, he's a beaver, right? Bucky the beaver, yeah. I see it. So we stopped for fuel at one of these last week. And I decided that in addition to beer name or mascot name, or apparently, is a gift. Because I came up with a name for this mascot. I couldn't find the name of the mascot in any of their literature. I looked online, I did this very search. Okay? I think you should be called Justin. Justin Bieber, there you go. I love it, man. Justin Bieber. All right, folks, you heard it here first. Just reach out to us. Bucky's, you're welcome. Absolutely. Absolutely. Yeah, you could have him dance it. He could be a movies. For sure. Yeah, absolutely, man. You could absolutely. He just broke ground, man, I think. I think he just broke ground. I really do. But maybe you should be his agent, you know? Yeah, since we got all these beaver, if you need an agent, Justin. Just hit us up over on parts counter guru dot com. There's a comments down. Oh man, I love it so much. I just love it. We are just full of absolute the best information in one could offer. I mean, we've got it all. Okay, so anyway, onto onto expensive cars. We've talked about the Cadillac lyric. It is Cadillac's flagship at this point. Of their entry into the EV market. It's an awesome looking vehicle turns heads like crazy. My dad is actually really, my dad loves cadillacs and he likes the car. We've talked about it. But Cadillac didn't stop there. They are wanting to obviously compete with the rolls royces. And a customizable luxury vehicle that will be there will be no two alike they say. They will all be hand built, they are 3D printing as many as a 115 different components on this vehicle. They are also doing some interesting aluminum casting for the wheels are going to have 23 inch wheels on these things. Here's the thing that got my attention mainly though. Yester hand built luxury vehicle and it'll be a low volume vehicle as well. 300,000 dollars. All right. So this is interesting. And I do like the enthusiasm that Mary Barra and team are showing on, hey, let's try some new things. My gut reaction to this is with no offense to your dad because the Cadillac does make a good product. And then resale values tend to do well over the years. But $300,000 for an automobile made by General Motors. So let me put this in perspective. Okay? This is space, by the way, that they haven't been in yet. Right. So let's say you're going to buy a watch. Okay? And you have $10,000 to spend on a watch. You know what? Let's make it 15. Let's make this interesting, okay? Okay. Okay. You got 15 K to spend on a watch, okay? Do you buy a Rolex? Or do you buy the latest fancy watch from timex that has all the Rolex like features and then some? For 12 5. Point will take in if I've got 15 to spend. You're going to get a Rolex. I'm going to get a rollout. Or an omega, or right? Right. Why is that? Timex has been around. They make decent watches. They don't make a decent yet $15,000 watch. No. That I know of. They make fishing at us out there, Mike, correct me. Right. But if I'm going to spend that kind of money on a watch, I'm buying more than the components in the watch, right? Right. Right. Okay. I think there's a couple of things that you get from this. For example, loss of value over time. Rolls Royce versus a Cadillac, loss of value. I don't think you're going to have near as much in depreciation with that roles or worse as you will with the Cadillac. Likewise, with a timex over a Rolex. It just doesn't happen. If
AP News Radio
US businesses propose hiding trade data used to trace abuse
"U.S. businesses are proposing to hide trade data used to trace abuse a group of major U.S. businesses wants the government to hide key import data a move trade experts say would make it more difficult for Americans to link products they buy to labor abuse overseas The proposal obtained by The Associated Press was made by an advisory panel comprised of executives from 20 companies including Walmart General Motors and Intel If adopted it would Shroud in secrecy customs data an ocean going freight responsible for about half of the $2.7 trillion in goods entering the U.S. every year Will truck and air cargo is
AP News Radio
GM recalls 484,000 large SUVs over possible seat-belt malfunction
"General Motors is recalling more than 484,000 SUVs to fix a seat belt issue The recall covers Chevy suburbans and Tahoe's Cadillac escalades and GMC yukons from the 2021 and 2022 model years The automaker says there's a problem that can cause the third row seat belts to malfunction and they may not properly restrain a passenger in a crash However the automaker is unaware of any injuries caused by the problem GM says the rivets that hold the buckle to the mounting bracket may have been formed improperly
AP News Radio
Hobbled by chip, other shortages, GM profit slides 40% in Q2
"General Motors sees a dip in sales and earnings as a shortage of parts hobbles production The news from Detroit was not great GM's second quarter U.S. sales were down more than 15% and net income fell 40% from a year ago in part because the company couldn't deliver 95,000 vehicles due to a continuing global shortage of parts and computer chips Demand has been strong but production cuts continue to limit dealer inventory Last year GM made 2.79 billion from April to June this year it made 1.67 billion which beat revenue estimates but the per share earnings fell short of Wall Street expectations Nevertheless the company's annual income guidance is holding steady in a letter to shareholders CEO Mary Barra says the company's confidence comes from an expectation that global production and wholesale deliveries will be up sharply in the second half I'm Jennifer King
AP News Radio
The AP Interview: GM's Barra stands by ambitious EV pledge
"The CEO at General Motors is standing by a pledge on electric vehicles Mary Barra is predicting by the middle of this decade GM will sell more electric vehicles in the U.S. than the market leader Tesla Barra tells the AP her strategy is affordability You have to appeal to people that are in that 30 to $35,000 price range That's where the bolt is already there but the equinox is just a phenomenal vehicle Last year GM sold just 25,000 electric vehicles in the U.S. less than one tenth of the estimated 352,000 sold by Tesla Buying an EV is just better Because if you've had the chance to drive one of our electric vehicles they're fun to drive instant torque quiet And so I think there's a lot to offer Already GM is pledging to cut the starting price for the Chevy bolt small SUV to around $26,000 later this year Tesla's lowest price vehicle sells for about $60,000 I'm Ed
Bloomberg Radio New York
"general motors" Discussed on Bloomberg Radio New York
"Candidate to replace Boris Johnson as prime minister. My mid Corey on WW J and Detroit, I'm reporting General Motors self-driving startup cruise is facing increased scrutiny. And those are some of the stories are 2700 Bloomberg journalists and analysts are working on this morning around the world. And here's another one. Meta platforms is going to start letting more users create multiple profiles within their Facebook accounts. We get that story from Bloomberg's Charlie pellet. It's the company's latest attempt to encourage posting and sharing on its social network. As part of a test, certain Facebook members will be able to create as many as four additional profiles on each one will not need to include a person's real name or identity. Users could have one for friends and another for coworkers, for example, each with its own feed. Meta is stepping up efforts to drive engagement on the world's biggest social network, which is seen growth slow, especially among younger users. In New York, Charlie pellet, Bloomberg, daybreak. Okay, Charlie, thank you. Right now, S&P futures are up ten points. Down futures up 76 NASDAQ futures are higher by 35 points, the ten year treasury is up 7 30 seconds yield 2.93% yield on the two year 3.11%. This is Bloomberg. Makes innovation happen. It also makes entrepreneurs like Anya o'dwyer, founder of innovate, a tech driven civil engineering and construction management firm, Anya says and JIT is defining the future. Extremely important as a hub of disciplines all in one space with all of these brilliant minds. NGOs roll is huge when it comes to defining the future and power from an interdisciplinary point of view. They have it all there, whether it's the innovation hub, the makerspace, and it is already creating fash collaboration between the disciplines and you have civil engineers speaking to programmers speaking to electrical engineers. And together, they're creating advancements that we wouldn't have been able to do without those three minds coming together and solving a problem as one rather than
Bloomberg Radio New York
"general motors" Discussed on Bloomberg Radio New York
"Is it the mine? You're going to pay for hold on a minute. Tesla just raised the price of the S I believe or the Y by $6000. General Motors just yesterday announced the increase of the Hummer EV $6000. That's coming from lithium cost problems. The battery is now the most expensive component in the cart. It always was an electric car, but it's caused far more than an internal combustion engine to manufacture. Because of the cost of raw materials. And current companies can't keep this up forever. Once the average, the average price saving electric car in the U.S. is about is almost $60,000. This used to be called a luxury car. Now it's an average electric car. Unless you're willing to pay for it, you're not going to get one. So Jack just in the last minute that we have with you, give us an idea of where lithium prices go. Do we see some sort of reprieve here after this run up? I think what's going to happen is that this run up is going to promote more efficient production of lithium with, for example, direct directly at the image extraction technology now being pushed into development. The costs have to go down or there isn't going to be an EV revolution. The cars are getting too expensive. All right, Jack lift and adviser and physical and chemical engineer at one world lithium, joining us on the phone from Detroit. Jack, thanks so much for taking the time. Let's get an update on the trading day. We're about 90 minutes to the close. Here's Charlie pellet and I think very much Tim. Here's what's going on. Stocks fire crude oil is lower. President Biden calling on Congress to suspend of the federal gasoline tax. I suspend in the 18th century gas tax federal gas tax for the next 90 days. We can bring down the price of gas and give families just
WJR 760
"general motors" Discussed on WJR 760
"I'm Jack Rousseau this is anything as possible We're talking to Steve Miller Mister fix it for American industry Steve how do you keep your cool when all around you are streaming and threatening murder et cetera talk to us about keeping your cool I would say two inches there One you just have to have the self assurance that I didn't cause this mess I'm but I'm here going to do everything I can to try and fix it I've got all these different constituents with different points of view And if I can get them all into the same page we'll be in a better place And I'm not you know I talked earlier about the issues I had with the united auto workers but I have to look at them Most of the united auto workers that work for Delphi had started their careers at General Motors and 20 years prior on the promise that they would get the General Motors pay and benefits when I said I can't afford that I don't have the money I've gone broke They were very upset but I do understand them as they are people with families and they have counted on Delphi being able to honor its commitments and the fact that we couldn't do it I didn't blame them for being upset with me but said we are where we are and we've got to work this out All right since July of 2018 you've been the chairman of the board of Purdue pharma The infamous Purdue pharma the maker of the opioid drug OxyContin Talked about this one Well I mean two things one this is as backdrop to what I am doing as chairman trying to get this company fixed and back on its feet and out of bankruptcy It is against the background of just an incredible human tragedy from drug overdose I mean some of it was due to misuse of prescription pharmaceuticals but a lot of it particularly these days is almost all due to illegal fentanyl or imported heroin and so on It's a terrible problem and we are trying to do what we can from our point of view to help America to deal with it We're taking the company and we have no longer call on doctors We don't try and push pills We don't do any advertising We do make the product because it's a miracle drug for appropriate patients which would be like terminal cancer patients or people who've been in an auto accident and they just need to get through the next few days Those are good if they got good doctor care They're not going to end up in a bad way They're going to have a great improvement in their life And those are the ones we're focused on We have put in systems to try and track every pharmacy that buys our product through distributors And if we see any big uptick in the order rate we want to find out why is that Is this because it's becoming a pill mill or is there some legitimate reason like changing where their warehouse is or something that would cause them to have a aberration in the rate of prescription orders So we're doing our and then our plan in bankruptcy which I thought would be finished by now but isn't quite is to take all of the assets of this company plus a contribution from the prior owners the Sackler family And make it into a public benefit corporation and opioid abatement trust And all of the funds would go to victims of drug abuse regardless of whether it was our drug or not And to the states and communities that have suffered so much from the problem of drug addiction So we're well on our way to getting this thing fixed as best we can and doing our part to create and preserve the value that is there even though we have his associated with significant problems over 5 or ten years ago The numbers are astounding 600,000 people have filed lawsuits over a billion so far in lawyers alone Claims totaling a 140 $1 trillion Topic is a trillion Steve Well it's beyond my candidates to how big is a trillion but a 140 trillion exceeds the combined GNP of every country on Planet Earth And we don't happen to have it We're going to do the best we can but the seriousness of the problem is underscored by the fact that this is in every way possible a record breaker of a difficult bankruptcy case All right let's talk if you would about communicating with employees And let's use two examples One is the Canadian Justin Trudeau with the truckers And the other one is the Ukrainian president the comedian talk about the two ways and what's the right way Well I am fearful for but very admiral of the president of the Ukraine I mean he is standing his ground leading his people and brings back memories of Winston Churchill back at the beginning of World War II when he had to give spirit to his country to withstand the threatened attacks coming from Adolf Hitler So that's a good way You know Justin Trudeau I only know what I read about it but he's got a whole segment of his population you know the truckers who are very unhappy about the mandated vaccinations which goes to the heart of.
AP News Radio
Ford recalls 737K vehicles to fix oil leaks, trailer brakes GM recalls nearly 682,000 SUVs; windshield wipers can fail
"Ford Ford is is issuing issuing two two recalls recalls involving involving safety safety issues issues and and General General Motors Motors has has a a windshield windshield wiper wiper recall recall Ford Ford is is announcing announcing a a recall recall over over oil oil leaks leaks involving involving Ford Ford escapes escapes model model years years twenty twenty twenty twenty three three twenty twenty twenty twenty two two and and Bronco Bronco sport sport S. S. U. U. V.'s V.'s with with one one point point five five liter liter engines engines a a housing housing can can crack crack and and if if the the oil oil leaks leaks on on to to engine engine parts parts that that could could create create a a fire fire hazard hazard the the second second forty forty issue issue involves involves a a software software error error that that can can interfere interfere with with stopping stopping a a trailer trailer the the breaking breaking issue issue involves involves newer newer model model F. F. one one fifty fifty two two fifty fifty three three fifty fifty four four fifty fifty and and five five fifty fifty pickups pickups along along with with twenty twenty twenty twenty two two maverick maverick pickups pickups Ford Ford expeditions expeditions and and Lincoln Lincoln navigators navigators the the General General Motors Motors recall recall is is for for rusting rusting ball ball joints joints in in a a windshield windshield wiper wiper module module that that can can cause cause the the wipers wipers to to fail fail in in Chevy Chevy equinox equinox and and GMC GMC terrain terrain vehicles vehicles model model years years twenty twenty fourteen fourteen and and fifteen fifteen I'm I'm Jackie Jackie Quinn Quinn
AP News Radio
Biden to announce Siemens investment, planned factory jobs
"President Biden is set to announce an investment that will create more factory jobs in the U. S. America now has about twelve and a half million manufacturing jobs roughly five million fewer than at the start of the century and a two hundred thousand shy of pre virus pandemic levels the president argues returning more factory jobs here will help ease supply chain issues and lower inflation at the White House he'll announce tech company Siemens USA is making up fifty four million dollar investment in producing electrical infrastructure equipment which is expected to create about three hundred jobs in California Texas and elsewhere the White House earlier announced investment plans by Intel and General Motors which it says will create jobs in Ohio and Michigan Sager
AP News Radio
Masks optional at auto plants not in high virus risk areas
"Face masks will be coming off at many of the nation's auto plants with the virus rate sharply coming down in most places a task force of officials from the United auto workers union Ford General Motors and still Lantis decided to drop the mask requirements at auto production sites regardless of workers vaccination status each company will tell its workers when the masks will become optional but those rules can be superseded by state or local mandates and requirements can change if there's a high incidence of virus cases in that county nearly two years ago in may of twenty twenty factories reopened with a mask requirement after a two month shot down it was briefly lifted but then the delta variant fueled a new search I'm Jackie Quinn
AP News Radio
COVID-19 truck blockade in Canada shuts down Ford plant
"The blockade of the bridge connecting Detroit to to Canada has impacted workers at Ford General Motors and Toyota factories the rolling blockade to protest by those opposing candidates cobit restrictions has forced Ford Motor Company to close its engine plant in Windsor Ontario and scale back operations at an assembly location in Oakville because auto parts can't get through the company says it's hoping for a quick resolution shortages also forced General Motors to cancel Wednesday's second shift at an S. U. V. factory near Lansing Michigan and Toyota says it can't manufacture anything in its three Canadian plants for the rest of the week because of these part shortages White House press secretary Jen Psaki says the administration's working with Canada and business entities on what the impact could be of auto parts which is what what would come from Canada and the impact on the United States were also looking at tracking potential disruptions to U. S. agricultural exports from Michigan into Canada the ambassador bridge blocked by trucks carries twenty five percent of all trade between the two countries I'm Jackie Quinn
AP News Radio
To highlight economic growth, Biden goes shopping for gifts
"Hi hi hi hi Mike Mike Mike Mike Rossi Rossi Rossi Rossi a a a a reporting reporting reporting reporting after after after after going going going going shopping shopping shopping shopping Tuesday Tuesday Tuesday Tuesday president president president president Biden Biden Biden Biden meets meets meets meets with with with with CEOs CEOs CEOs CEOs today today today today with with with inflation inflation inflation at at at a a a near near near forty forty forty year year year high high high and and and the the the stock stock stock market market market slipping slipping slipping president president president Joe Joe Joe Biden Biden Biden meets meets meets with with with some some some of of of the the the nation's nation's nation's top top top CEOs CEOs CEOs today today today to to to pitch pitch pitch the the the benefits benefits benefits of of of his his his economic economic economic agenda agenda agenda that that that stalled stalled stalled in in in the the the Senate Senate Senate among among among those those those meeting meeting meeting with with with the the the president president president will will will be be be the the the heads heads heads of of of General General General Motors Motors Motors Ford Ford Ford Microsoft Microsoft Microsoft sales sales sales force force force and and and at at at sea sea sea yesterday yesterday yesterday Biden Biden Biden visited visited visited the the the gift gift gift shop shop shop and and and ice ice ice cream cream cream store store store to to to Capitol Capitol Capitol Hill Hill Hill neighborhood neighborhood neighborhood the the the price price price the the the food food food too too too the the the president president president said said said last last last week week week he he he will will will be be be getting getting getting out out out more more more and and and meeting meeting meeting with with with everyday everyday everyday Americans Americans Americans the the the president president president plans plans plans to to to visit visit visit Pittsburgh Pittsburgh Pittsburgh on on on Friday Friday Friday Mike Mike Mike Rossi Rossi Rossi out out out Washington Washington Washington
AP News Radio
GM to spend nearly $7B on EV, battery plants in Michigan
"General General General General Motors Motors Motors Motors says says says says it's it's it's it's making making making making the the the the largest largest largest largest investment investment investment investment company company company company history history history history expanding expanding expanding expanding electric electric electric electric vehicle vehicle vehicle vehicle and and and and battery battery battery battery manufacturing manufacturing manufacturing manufacturing in in in in its its its its home home home home state state state state of of of of Michigan Michigan Michigan Michigan at at at at a a a a news news news news conference conference conference conference at at at at Michigan Michigan Michigan Michigan state state state state capital capital capital capital CEO CEO CEO CEO Mary Mary Mary Mary Barra Barra Barra Barra said said said said GM GM GM GM will will will will convert convert convert convert and and and and expand expand expand expand their their their their Orion Orion Orion Orion township township township township assembly assembly assembly assembly factory factory factory factory to to to to make make make make electric electric electric electric pickup pickup pickup pickup trucks trucks trucks trucks build build build build its its its its third third third third U. U. U. U. S. S. S. S. battery battery battery battery cell cell cell cell plant plant plant plant in in in in Lansing Lansing Lansing Lansing and and and and invest invest invest invest in in in in upgrades upgrades upgrades upgrades to to to to two two two two other other other other plants plants plants plants will will will will invest invest invest invest more more more more than than than than seven seven seven seven billion billion billion billion dollars dollars dollars dollars across across across across for for for for Michigan Michigan Michigan Michigan manufacturing manufacturing manufacturing manufacturing sites sites sites sites creating creating creating creating four four four four thousand thousand thousand thousand jobs jobs jobs jobs the the the the move move move move is is is is a a a a win win win win for for for for Michigan Michigan Michigan Michigan which which which which lost lost lost lost out out out out on on on on eleven eleven eleven eleven billion billion billion billion dollars dollars dollars dollars investment investment investment investment when when when when Ford Ford Ford Ford Motor Motor Motor Motor Company Company Company Company chose chose chose chose Tennessee Tennessee Tennessee Tennessee Kentucky Kentucky Kentucky Kentucky for for for for three three three three battery battery battery battery plants plants plants plants in in in in a a a a vehicle vehicle vehicle vehicle assembly assembly assembly assembly plant plant plant plant governor governor governor governor Gretchen Gretchen Gretchen Gretchen Whitmer Whitmer Whitmer Whitmer says says says says she's she's she's she's thrilled thrilled thrilled thrilled this this this this is is is is about about about about being being being being made made made made in in in in Michigan Michigan Michigan Michigan this this this this is is is is about about about about the the the the epicenter epicenter epicenter epicenter of of of of electric electric electric electric vehicles vehicles vehicles vehicles I'm I'm I'm I'm Jennifer Jennifer Jennifer Jennifer king king king king
Bloomberg Radio New York
"general motors" Discussed on Bloomberg Radio New York
"During this week's visit to General Motors new electric car factory and the president highlighted the 7 and a half $1 billion that will be spent to create an electric vehicle charging network Mister Biden wanted twice as much money to install a half million chargers across the country but he said the investment will go a long way toward curbing planet warming carbon emissions the international council of clean transportation says the United States will need nearly two and a half million charging stations by 2030 if more than a third of new vehicle sales are EVs There are more than 45,000 stations around the country now The administration hopes to do even more to promote electric vehicles a $7500 tax credit for drivers who buy electric vehicles has been floated as part of the president's social services and climate Bill after 2026 only American made EVs would qualify for the credit Jeff Bellinger Bloomberg radio MJ IT makes innovation happen It also makes entrepreneurs like Anya o'dwyer Founder of innovate a tech driven civil engineering and construction management firm ania says and JIT is defining the future Enjoy teas extremely important as a hub of disciplines all in one space with all of these brilliant minds NGOs wrong is huge when it comes to defining the future and how from an interdisciplinary point of view They have it all there whether it's the innovation hub the makerspace And JT's already creating bash collaboration between the disciplines and you have civil engineers speaking to programmers speaking to electrical engineers and together they're creating advancements that we wouldn't have been able to do without those three minds coming together and solving a problem.
Bloomberg Radio New York
"general motors" Discussed on Bloomberg Radio New York
"Flurry of deals by tech firms seeking to expand in New York despite delays in return to office plans Charlie pellet Bloomberg radio Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm Susanna Palmer This is Bloomberg This is balance of power with David I think this is shots are actually a good idea We also want to slow down these breakthrough infections None of us expect the Taliban to change its behavior at all when it comes to the ferry's activity Where the world of politics meets the world of business What do employers do as real wages start to tick up Cleaner is actually cheaper when you internalize all those negative effects with the burning of fossil fuels With David Weston on Bloomberg radio Coming up this hour my exclusive interview with Evercore co chairman and co CEO Ralph schlosstein After announcing this week he's stepping down after 13 years I ask him why now And what comes next Plus the SEC is set to move forward on regulating stable coins I talk with Todd silverman of civil and compliance about what's next in the crypto world and my exclusive interview with Senate banking committee chairman sherrod Brown For his view on the Federal Reserve's leadership and the Führer over securities trading by fed presidents But first General Motors announced its third quarter earnings this week beating expectations across the board Although helped by its financing arm and reimbursement for the cost of its bolt recall I caught up the GM chair and CEO Mary Barra for her reaction What the real story is is how well we perform from trucks and full size SUVs We're selling every vehicle we can make And I think that along with the overall environment is what allowed us to have a beat for the quarter And I think it shows the strength of our underlying business So I'm really proud of the team and everything that they accomplish So the magic words there for me were everyone you can make because you can't necessarily make all the ones you'd like because of those supply chain problems We've talked about it before I know that it's continuing into next year I guess my key question for you Mary is is there anything at this point that can be done to speed up the time that you can get the microchips that you need Well we're seeing improvements in fourth quarter We had indicated that Q three would be the toughest for us and then it was further impacted by COVID But we're seeing strong stronger performance now We'll have a Q one will be better than Q four It will linger into next year and we're right now our feeling is we'll be in a much better shape in the second half of 2022 And we're also taking steps over the medium term to make sure we're never seeing this kind of constraint Not only with chips but with other whether it's critical materials or just the overall supply chain Because we have an aggressive growth strategy in front of us And we're going to make sure that we can execute it So it's a very it's a near term problem that will work through In the meantime Mary are there places you can save some costs Let me give you one example advertising If you can't sell as many vehicles maybe you don't need to advertise as much Well David it's a great point We are saving across the board We're seeing a strong pricing environment Obviously we're adjusting what we're doing to match the fact that we're selling every vehicle that we can But also through COVID and through this crisis with semiconductors we have found ways to make the business more efficient We're working with our dealers to drive an increase in profitability for them as well as improving our costs And so across the board we are always driving efficiencies and that's an underlying underlying strength of our organization and that supports the strong earnings Mary let's talk about the perhaps longer term that's electric vehicle something you've really embraced You have some very aggressive goals for General Motors going out Electric fields We had some big news this week from arrival starts with a T won't necessarily name it with some big fleet sales particularly to hurt I know in the past you've been I think a little dubious about fleet sales because the margins get down Where are you on fleet sales for electric vehicles Are they different Because you really want to get broad acceptance Are you looking at fleet sales for electric vehicles Well you know if you look at brake drop the commercial fleet and what we can do from a light commercial vehicle perspective with bright drop and the whole ecosystem that will support I think is a huge opportunity And that's some of the most profitable fleet sales We're looking at many different opportunities Because with electric vehicles you can really reframe how the sales will be And so we're looking at a number of opportunities but I think what we've announced is around bright drop I'm very excited about that because that's just pure growth for us But as I understand we shouldn't rule out the possibility that down the road General Motors might have a deal similar to hertz deal Well you know in the past we have limited rental cars because that generally was the least profitable type of fleet sales as we reimagine how the business will look We're not ruling anything out Since we talked last there have been more and more vaccine mandates Is that affecting General Motors operations Do you anticipate it will I don't think it will We'll work We continue to encourage our employees to get the vaccine We continue to provide them the information from CDC and other like organizations around the globe And we're going to work to understand how to implement the executive order from the president But to do so in a way that our employees and our unions agree to So once we know the details we'll work the execution plan But I don't foresee it being an issue for General Motors as we look at our overall labor availability Yeah you do have obviously a very important relationship with the UAW CIO As you talk with them do you see resistance coming from the union side to vaccine mandates Well I think that's a better question to ask the UAW We're just working with them to provide information and encourage encourage all of our employees to make the decision with the right information And that's what we'll continue to do And then again we'll look at what the specifics are of the mandate and figure out how to implement At this point we don't know where we are in the pandemic but it seems like it's getting better again in the United States Is it affecting GM operations either on the sales side or in the production side Actually the biggest impact that's gaining us right now is we talked about is semiconductors But we've seen recovery from the impact in Q three from some of our supply base that caused a little bit deeper impact So I'm optimistic that we are through the worst of it We've shared our safety protocols with our supply base around the world So that's what gives me confidence that we're going to see a stronger Q four and then a stronger Q one And even as we get to the second half of next year continued improvement Thanks to GM chair and CEO Mary Barra coming up my exclusive interview with Senate banking committee chairman sherrod Brown of.
AP News Radio
GM Profit Sinks as Chip Shortage Takes Toll
"General Motors third quarter results saw profits slipping due to a pandemic shortage of computer chips and other parts GM still posted a two point four billion dollar profit in the third quarter held up in part by consumer willingness to pay high prices for scarce new trucks and SUVs but their profit was forty percent lower than the same period last year their revenue fell twenty five percent and was short of Wall Street estimates on a conference call with reporters CEO Mary Barra so the company was hit by a global shortage of semiconductors and cobit outbreaks at supplier factories she said they're seeing improvements but they'll see the impacts into next year Edmunds dot com reports that the chip shortage has been particularly harsh GM and the company lost three point eight percentage points of US market share I'm
The Drill Down
"general motors" Discussed on The Drill Down
"Welcome to the drill down. We've got business stories behind stocks on the mood. I'm cory johnson today october. Twelve gives us episode number one hundred fifteen. We'll just ahead shortsellers go after max linear. So how does the company explain. It's controversial acquisition strategy and mgm sees. The nfl is driving online sports betting more than they even imagined and how buying a bank his transforming a company called new tech business services. We're gonna get into that with new tech ceo berry sloan from the l. d. micro conference in los angeles but first it's sponsor time. The drill down is brought to you by era. Never miss another critical event or insight. Ever with era customize. Your company watch watchlist track key events mentioned filings and more all with an easy to use customizable interface. That's era a. R. a. dot com. And you can listen to drill podcast everyday on your smart speaker just asset smart speaker to play the drill down podcast and.
Bloomberg Radio New York
"general motors" Discussed on Bloomberg Radio New York
"Super cruise that it's not just you buy it in the vehicle but it can be one of those things that you use it on demand with a subscription So we're very excited about the business that we're unlocking We really feel General Motors is moved from being an automaker to really a platform innovator and the vehicle itself has become a software defined vehicle that it really is going to unlock a lot of revenue that's at different margins and really serves the customer You said at different margins give us a sense put aside revenue and talk about profit contribution at what point will those services contribute as much as the vehicles will to the profits of General Motors Well I think if you look at our internal combustion business our EV business the services are going to play a very material role but then on top of that there's also crews And we think there's tremendous growth potential as we commercialize crews in addition to OnStar insurance bright drop and our GM defense operations So that's why there's so much growth and there's a different margin profile for each of those businesses that I think is going to lead to improve profitability You mentioned bright drop I want to focus on that for a moment because one of the things that I think I see with General Motors is a move as well from B2C business to consumer to be to be business You have the bright job situation and the arrangement FedEx Take us through that where you are on it Well Guinness as we look at bright drop what to me is so important about bright drop It's not simply taking an internal combustion like commercial vehicle and making it electric It's really creating an ecosystem and allowing our customers to be more efficient For example in some of the piloting work we've done with FedEx really working with their drivers and then how they do deliveries we're able with our E palette system to drive more efficiency so they can actually deliver more packages in the same amount of time And then providing a whole software system to manage all aspects of managing the fleet So it's really an ecosystem It's a total solution for these customers And we've been working.
WTOP
"general motors" Discussed on WTOP
"General Motors will idle nearly all of its assembly plants in North America starting Monday because of a pandemic related chip shortage overseas. Those chips are used in a variety of car parts and small electronic demand for laptops and other personal electronics rose during the pandemic. Fueling that shortage, Automakers have had to either temporarily idle production or build vehicles just shy of all the parts and then await. Parts to finish the production. Rising lumber prices have actually benefited one Virginia company in the home decking business, Jeff Blake Clavo says it's because it doesn't use wood. Winchester based tracks is among big synthetic decking. Materials makers and trucks in its competitors have boosted sales and grab market share, fueled by rising lumber prices and a home improvement boom. Their products also tend to last longer than wood. Synthetic deck producers now have about 20% of the home decking market share. It's 8 56 Coming up on w T. O P expanded federal unemployment benefits are set to expire today. It's not a pre pandemic levels, but airlines are reporting a big boost in late Today. Travel from last year and dire conditions for some Louisiana nursing home patients following Hurricane IDA. Those stories after traffic and weather next on w T O P. It's 8 57 Fanduel Sports Book is celebrating the return of the NFL regular season with 40 to 1 odds on any week. One game. This is your chance to win $200 on a $5 bet. Plus when you're on the right side of that first wager. You get paid as little as 24 hours as much as it pains me to do so I'm going to be locking in the L. A Chargers money line against the Washington football team at FedEx Field..
Business Wars Daily
"general motors" Discussed on Business Wars Daily
"Mary barra lived and breathed cars. Her father worked as a gm factory hand for thirty nine years. In pontiac michigan he loved tinker with broken appliances and made things from spare parts. Sometimes he bring home new cars from the pontiac factory. And after mary finished her chores she explored the vehicles from top to bottom like her father. Mary wanted to know how these machines worked and how to make them work. Better at eighteen years old. Mary started inspecting. Fender panels and hoods for general motors saving up her money for college tuition in one thousand nine hundred five. She graduated from the gm institute now called kettering university with an electrical engineering degree then she attended stanford graduate school of business on a gm fellowship after that. Mary worked a variety of engineering and administrative positions for john but as mary rose through the ranks she rarely saw women in leadership positions. It was a male dominated industry and women and gm factories often face catcalls from male workers and. They rarely if ever advanced but mary did. Despite these obstacles her idea to create a standardized retooling system in the nineteen nineties transformed him after implementing the system at the fairfax kansas plant. Gm saw the most successful launch. Ever they made the grand prix on schedule with fewer mistakes and smoother production. Mary system works so well. The company eventually adopted it as a standard best practice for launching all new cars in the future as a result. Mary's name got put on a short list of up and comers gm and she started to work your way up the ladder for mary. Her success at standardization was the start of her career. But for gm it was perhaps a little too late since nineteen o eight gm operated as a key driver of the workforce the economy in american culture. But one hundred years later in two thousand eight the once thriving business would come to a crashing halt some faulted the spike of global gasoline costs many. Blame the two thousand eight economic collapse. Mary saw another reason. Gm suffered from internal arrogance gm leaders. Before her believe there's was the toughest company they would survive by sticking to the tried and true. Gm way but when the government was forced to rescue gm from collapse. President obama and his task force put the blame squarely on a failure of leadership year. After year decade after decade we've seen problems papered over and tough choices kicked down the road even as foreign competitors outpaced us. Well we've reached the end of that role and we as a nation cannot afford to shirk responsibility any longer. This is episode one in our four part series on gm in with the new. You've just heard a preview of business. Movers to hear the rest of this episode follow business. Movers on apple podcasts. Amazon music or you can listen ad free by joining wondering plus in the wonder app..
Business Wars
"general motors" Discussed on Business Wars
"Mary barra lived and breathed cars. Her father worked as a gm factory hand for thirty nine years. In pontiac michigan he loved tinker with broken appliances and made things from spare parts. Sometimes he bring home new cars from the pontiac factory. And after mary finished her chores she explored the vehicles from top to bottom like her father. Mary wanted to know how these machines worked and how to make them work. Better at eighteen years old. Mary started inspecting. Fender panels and hoods for general motors saving up her money for college tuition in one thousand nine hundred five. She graduated from the gm institute now called kettering university with an electrical engineering degree then she attended stanford graduate school of business on a gm fellowship after that. Mary worked a variety of engineering and administrative positions for john but as mary rose through the ranks she rarely saw women in leadership positions. It was a male dominated industry and women and gm factories often face catcalls from male workers and. They rarely if ever advanced but mary did. Despite these obstacles her idea to create a standardized retooling system in the nineteen nineties transformed him after implementing the system at the fairfax kansas plant. Gm saw the most successful launch. Ever they made the grand prix on schedule with fewer mistakes and smoother production. Mary system worked so well. The company eventually adopted as a standard best practice for launching all new cars in the future as a result. Mary's name got put on a shortlist of up and comers gm and she started to work your way up the ladder for mary. Her success at standardization was the start of her career. But for gm it was perhaps a little too late since nineteen o eight gm rated as a key driver of the workforce the economy in american culture. One hundred years later in two thousand eight the once thriving business would come to a crashing halt some faulted the spike of global gasoline costs many. Blame the two thousand eight economic collapse. Mary saw another reason. Gm suffered from internal arrogance gm leaders. Before her believe there's was the toughest company they would survive by sticking to the tried and true gm whe but when the government was forced to rescue gm from collapse. President obama and his task force put the blame squarely on a failure of leadership year after year decade after decade. We've seen problems. Papered over and tough choices kicked down the road even as foreign competitors out paced us. Well we've reached the end of that room and we as a nation cannot afford to shirk responsibility any longer. This is episode one in our four part series on gm in with a new. You've just heard a preview of business. Movers to hear the rest of this episode follow business. Movers on apple podcasts. Amazon music or you can listen ad free by joining wondering plus in the wonder e app..
Business Wars
"general motors" Discussed on Business Wars
"Back from the dead..
WGN Radio
"general motors" Discussed on WGN Radio
"Lawyer files a lawsuit after some companies put the brakes on trading game stops. Tak Shawn Watson wants a trade out of Houston. Will the Bears pursue it? More on that. Coming up in sports and business. General Motors sets a date for when it plans to only build electric cars. WGN traffic Here's Mary Vandevelde Traffic is sponsored by The Associated Press Victory World War two in Real Time and illustrated biography by The Associated Press Commemorating the 75th anniversary of the Second World War available Wherever books are sold, Eden's in good shape. Outbound on the Kennedy to the airport. 26 minutes 35 coming in. 24 from the Edens accident at division is off to the side. Eisenhower Still very heavy. Outbound. Mostly at the 1st. 30 minutes, heading out to Mannheim, 42 to 3 90 50 coming in from 3 90 Stevenson is 32 heading outbound to accident South down Tri State of the O'Hara oasis off to the side. Some police activity South side 87th in Lafayette and also in Willowbrook. Anak students, 75th and Clarendon Hills. Vandeveld Dogg and Traffic Central Naperville lawyer is asking a judge to allow Robin Hood a stock trading apt to allow its amateur users to buy stock in game stop. It was temporarily blocked. Brian is the director of Chicago based investment banking firm. Performance Trust capital on January 12th Gamestop was 20 yesterday. It was 3 47 last night it was 500 so that is causing pain institutional investors. Charles Schwab, TD Ameritrade and Interactive Brokers also restricted member access to related trade transactions after amateur traders on a reddit thread drove Gamestop and AMC stock prices higher. That led to big losses for hedge fund managers who bet those companies would trend lower. The DuPage County Health Department expects to have a mass vaccination site set up at the county fairgrounds in the coming weeks. Executive director Karen I. Allah is hopeful the supply from the federal government doubles so they can get the highest priority people vaccinated By April, She spoke to Chicago's afternoon news If you're in the group Priority group 18 or one B, We would encourage.
WBZ NewsRadio 1030
"general motors" Discussed on WBZ NewsRadio 1030
"Red Sox fired from his new role with the New York Mets. WBC's Jim McKay explains what led up to his son doing. Jared Porter has been fired by the Mets after sending inappropriate text messages to a female reporter, Mets owner Steve Cohen taking to Twitter this morning announcing the firing The story from ESPN first surface last night. The text messages date back to 2016. Many inappropriate and graphic. Porter has many ties to Greater Boston. He moved two ducks Berry from Minnesota in his teenage years 1999 Graduate Affair Academy in Braintree and was with the Red Sox for three world Syriza over the course of 12 years. He was hired by the Mets last December. As their new general manager. Just over a month later, he's out of a job. Jim McKay WBC Boston's news radio 208. With yesterday's holiday on Wall Street. Today is like a Monday for the markets. Well, kind of Antero Day is at Bloomberg first day of the trading weekend. We'll take this. Yeah, kind of a manic Monday. Right now, the Dow up 155 NASDAQ gaining a percent and a half. That's 100 93 S and P 500 right now Up 34. General Motors of Microsoft are putting their money where their mouth are. When it comes to self driving electric cars. Two companies were leading a $2 billion investment and self driving auto Start up, Cruz. Which will use Microsoft software for robo taxis. The new funds will raise cruises post investment valuation to an estimated $30 billion, and by using Microsoft software. It also becomes more of a direct competitors to efforts, including those funded by Google. Right now the Dow up 154 and rode a Bloomberg business on WBZ. Boston's news radio. Hey, Alexa, play WBZ news.