Geely Auto, a Chinese maker of all-electric cars (EVs), has warned of possible production cuts because it remains unable to source enough computer chips. The shortage contributed to the company’s first-half sales falling about 10 percent below forecasts made by economists Bloomberg had surveyed, and missing the analysts’ profit target by a third. “Short supply...
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SPECIAL REPORT: BANKSTER BANDITS IN CHARGE—JANET YELLIN’S SECRET MONEY, MEETINGS AND PHONE CALLS
When Janet Yellin was nominated to become Joe Biden’s treasury secretary, she disclosed more than $7 million in speaking fees she collected in 2019 and 2020, mostly from banks, hedge funds, and trading houses. However, she did not reveal the millions she took for speeches she made in 2018 after leaving the chair of the...
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THE “BIGS” BRIGADE BUYING UP THE WORLD
Each week, we report instances where the money junky hedge funds, private equity groups and the already big company swallows another piece of the global economy. Here are some of what the BIGS gobbling up last week…. CME GROUP OFFERS $16 BILLION FOR CBOE. CME Group, the world’s largest operator of futures exchanges, has offered...
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HOTEL CHAIN TESTS A LA CARTE PRICING
MCR Hotels, the fourth-largest U.S. hotel chain with about 20,000 rooms, according to Hotel Business magazine, is testing a la carte pricing for services at a dozen of its inns. For example, guests are charged $20 for an early check-in or late checkout; guests also pay a fee to use the hotels’ fitness centers or...
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FORD HAS A BETTER IDEA? NEW SALES MODEL
Ford is testing a new way of selling cars. In the past, auto makers have cranked out cars with random colors, trim packages, and drivetrain options, then set them on dealers lots’ where customers could choose among them. Now Ford will emphasize making a car to each customer’s custom order, placed online, and delivering it...
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FACEBOOK DEBUTS VIRTUAL REALITY CONFERENCE ROOM
For owners of its Oculus Quest 2 virtual reality (VR) headsets, Facebook has introduced Horizon Workrooms, a program that creates VR conference rooms where Oculus owners can meet, discuss, draft, and work together. A person can enter the room with a cartoon avatar and take a seat at a virtual conference table. Interactive whiteboards mounted...
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CHEVROLET RECALLS ALL BOLTS
Chevrolet has recalled all Bolts, its all-electric car, to fix battery problems that could cause fires, the company said. Last year, the company recalled its 69,000 older Bolts after five reports of fires; the company then recalled the same cars again to fix a battery defect that could ignite fires. After spending $800 million on...
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AS FORECAST: NYC COMMERCIAL REAL ESTATE CRISIS WORSENS
Wall Street denied it and mainstream media refused to publish our trend forecasts of a sinking commercial real estate sector that we made back in March 2020 when the COVID War was heating up. With cities locked down, people working from home, and office occupancy rates plummeting, we had forecast that commercial real estate would...
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2020’S SHUTDOWN SPARKED SURGE OF START-UPS
Americans filed papers to start 4.3 million businesses in 2020, the U.S. census bureau reported, 24 percent more than in 2019 and the most in a single year during the 15 years that the agency has tracked the statistic, according to The New York Times. The volume of applications is still rising this year, the...
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RETAIL SPENDING FLOATS THE BIGS
Despite consumers’ abrupt loss of confidence in the U.S. economy’s future (see “Consumer Sentiment Tanks,” Trends Journal, 17 August 2021), Lowe’s, Target, and Walmart all raised their sales outlook for the rest of the year after earnings topped expectations in this year’s second quarter. Overall retail sales dipped 1.1 percent in July compared to June,...