Ford just did layoffs ahead of earnings
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Another canary in the coalmine: auto insurance.
"Car-insurance rates increased 17% in the 12 months to May, more than four times the 4% rise in overall inflation, Labor Department data show."
"The cost of claims has soared since the pandemic, due to more accidents, higher repair costs, bigger medical bills and increased litigation. Car insurers last year lost on average 12 cents for every dollar of premium written, according to S&P Global."
Source:
Car Insurance Rates Are Soaring With Little Relief in Sight
Regulators are starting to push back against premium increases of as much as 40%
https://www.wsj.com/articles/car-insurance-rates-are-soaring-with-little-relief-in-sight-66138e2a
Questions:
- Are electric cars more expensive to repair?
- Are electric cars more prone to being "totaled" in a small collision?
- Have you noticed brand new cars in Metro Detroit with smashed panels and bumpers? Does this mean they don't have car insurance? What does that do to YOUR rates?
- What does a 40% increase in car insurance do the average American's ability to buy a new car?
Putting everyone back in the office together should push the curb weight of the next gen Hummer EV up to a cool six tons.
@6ewg+1noE8UZd
If you can get past he paywall @freep you will see that she said at the Apsen Idea Festival 2023. Basically, she complained that people were complaining "why do you work here?" and she said that we will be working more hours in office soon. There's a video out on the web too, I just can't find it now.
GM CEO Mary Barra opens up on slow EV rollout, return to office
https://www.freep.com/story/money/cars/general-motors/2023/06/27/gm-ceo-mary-barra-ev-battery-plans-return-office/70360300007/
Where/when did MB allude to that.
'One party calls that "family values".'
Both parties are doing it, and
I suspect both parties work for the same boss,
the nonworking "elites" on wall street.
They just put on a play to distract us.
Good old fashioned greed.
One party calls that "family values".
It also drives outsourcing American jobs to other countries.
That just shows that employers want cheap labor and want to get rid of higher paid employees.
That's what drives firing older employees in favor of NCHs and H1Bs.
Good old fashioned greed.
"In a recent analysis, economists at Bank of America Institute found that in the 30 states that directly deposit unemployment benefits into laid-off workers’ accounts, the number of benefit-recipients in households earning $125,000 a year or more was up 40% in April from a year earlier. This was more than five times the increase in households earning less than $50,000."
"A tight labor market and in-demand skills mean that many well-off workers who lose their jobs can probably find new jobs fairly quickly—but maybe not at the same level of pay. Meanwhile, labor demand from industries that employ lower-paid workers remains elevated, and that is helping drive wage gains."
Social justice warriors call that "equity".
Article Title: The Richcession Keeps Rolling - The pandemic-triggered unwinding of inequality continues
https://www.wsj.com/articles/the-richcession-keeps-rolling-9a2ba848?mod=hp_lead_pos3
...
Low-end jobs are more secure than "professional" ones; yet those low-end jobs are predicated on the spending habits on those with money to spend. Race to the bottom? See you there!
I guess we know who you'll be rooting for in the Musk/Zuck cage match.
If we worked for Elon I might actually be motivated.
5days in office? I’ll find another job.
If we worked for Elon Musk, he would want us all to sleep at the office and stay until everything turned around.
I have heard everyone will be asked for 5 days a week at work in September.
What’s ahead?
Given that people aren’t taking the 3-day mandate seriously, and given that Mary alluded to a pending change in the number of hours we will work in office, the answer is obvious.
So many retirement announcements but no new replacements. How can management get control of the situation? Say it with me…
“All hands on deck. Hybrid arrangements have ended.”