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One in 10 Bay Area neighborhoods is 'highly segregated' enclave of White wealth, new report says

Business / Business News /

While California's Bay Area has long been championed as one of America’s most diverse regions, a new report describes it as deeply segregated with pockets of concentrated White wealth that are driving socioeconomic inequality.

The report published by the nonprofit Bay Area Equity Atlas mapped racial and economic segregation across the nine-...Read more

GM, citing 'consistently strong earnings,' to reinstate dividend, resume stock buybacks

Business / Business News /

General Motors Co. is reinstating its quarterly dividend for shareholders after suspending it in April 2020 in response to the coronavirus pandemic, the Detroit automaker said Friday.

A dividend of 9 cents per share of the company's common stock will be paid out on Sept. 15 to shareholders of record as of the close of business on Aug. 31.

The ...Read more

Tech companies chop hundreds of Bay Area jobs as layoffs mount

Business / Business News /

OAKLAND, California — Tech company layoffs are poised to eliminate hundreds of jobs in the Bay Area, an ominous new round of layoffs that might jolt the region’s primary economic engine.

Malwarebytes, Shift Technologies, Robinhood Markets and Rivian Automotive have notified the state’s labor agency that they have embarked on cutbacks that...Read more

Lincoln debuts electric, autonomous Model L100 Concept car

Business / Business News /

Lincoln's latest concept car is both a nod to the luxury brand's past and a preview of its electric, technologically-advanced future.

Ford Motor Co.'s luxury division on Thursday debuted the Lincoln Model L100 Concept at Pebble Beach Concours d'Elegance in California, where Lincoln is the featured marque as part of the brand's 100th anniversary...Read more

Star Tribune/Star Tribune/TNS

3M earplug bankruptcy: Shrewd plan or sham?

Business / Business News /

Is the bankruptcy filing of a small 3M subsidiary — Aearo Technologies — a legitimate move to shield itself from crippling liabilities for allegedly defective military earplugs?

Or is it a sham that would allow 3M itself to greatly limit billions of dollars in liabilities without the messy business of declaring bankruptcy itself?

That's a ...Read more

Uber and Lyft drivers' complaints are a startup opportunity

Business / Business News /

A number of upstart ride-hailing apps are taking on Uber and Lyft with the promise of treating drivers better.

Among them are Dallas-based Alto, which hires drivers as employees and gives annual compensation. Empower, based in McLean, Virginia, and Wridz in Austin, Texas give 100% of cab fares to the driver. The Drivers Cooperative in New York ...Read more

Everyone is talking about 'quiet quitting,' but is it a good idea?

Business / Business News /

“Quiet quitting” has struck a nerve. It means more time for friends, family and personal pursuits, not to mention a side hustle. But the latest workplace trend has drawbacks.

TikTok and Twitter are awash in explainer videos and endless interpretations. Despite what the name suggests, quiet quitting doesn’t mean turning in a resignation...Read more

Honda/Honda/TNS

Auto review: Refined looks, tech for 11th-generation Civic

Business / Business News /

Honda Civic owners have been among the most loyal to their brand for many years, much like enthusiasts of Jeep and Subaru. Give them a minute and Civic folks will chatter about its reliability, fuel economy and value.

The popular compact sedan — the top seller in its segment — has been redesigned inside and out for 2022 and that is likely ...Read more

Darin Schnabel/RM Auctions/RM Auctions/Cadillac/TNS

Casey Williams: Cadillac hits its stride at 120

Business / Business News /

Elvis painted his pink and purple. Betty White drove one named “Parakeet.” They’ve carried presidents, mobsters and almost everybody on their last ride. Rock and Roll would have neither rocked nor rolled without them. Some even paced Indy and raced LeMans. Now Cadillac, the 120-year-old brand that once meant the best of anything, hits its ...Read more

Chevrolet/TNS/TNS

Auto review: 2022 Chevrolet Bolt EUV proves that Kermit the Frog was wrong

Business / Business News /

Many car buyers are considering electric vehicles, or EVs, for the first time and they’re facing more choices than ever. They are also facing sky-high prices. The average transaction price of an EV in July was $66,000 according to Cox Automotive. That makes the price of the Chevrolet EUV, a crossover rendition of the smaller Bolt EV, well ...Read more

Win McNamee/Getty Images North America/TNS

The Week Ahead: Looking for a price peak in the past to figure out the future of interest rates

Business / Business News /

The Federal Reserve consistently says its actions are data dependent. “Data dependence is, and always has been, at the heart of policymaking at the Federal Reserve,” Fed Chairman Jerome Powell said in a 2019 speech.

But the challenge with data is that it is about the past and the Fed’s actions are about trying to shape the economic future...Read more

GM-Design/Chevrolet/TNS/TNS

Henry Payne: Chevy wraps the Silverado ZR2 pickup in Bison armor

Business / Business News /

Bison are getting bigger.

Learning from little brother Chevy Colorado, the full-size Silverado pickup is gaining yet another rugged off-road trim: the ZR2 Bison that's been popular on the midsize pickup since its 2019 model year introduction. Topping the Silverado Trail Boss and ZR2 off-road models, Bison takes the unique suspension, tires and ...Read more

Stellantis/TNS/TNS

Henry Payne: 5 things about the loud, lurid, 'lectric Dodge Charger Daytona

Business / Business News /

PONTIAC, Michigan — It’s That '70s Show again with the federal government on the warpath to eliminate V-8s, gas-guzzlers and fun. But the fun-lovin’ Dodge brand wants to stay a step ahead of the killjoys.

"It's like if they decided to ban cows — but 5% of the population is vegetarian and the rest still wanted beef. The meat industry ...Read more

Mel Melcon/Los Angeles Times/TNS

How a kid from El Monte became one of Hollywood's few Latino executives

Business / Business News /

Scouring his high school class schedule, then-14-year-old Cris Abrego caught his breath.

TV Production.

It was 1986, and the incoming freshman, a self-described TV addict, assumed the course would teach Latino teens like him how to build television sets. After all, this was an era when students in working-class communities, including those at...Read more

Karl Mondon/Bay Area News Group/TNS

Bay Area sees nation's largest monthly drop in home values

Business / Business News /

As rising mortgage rates continue to cool the housing market across the U.S., the Bay Area in July saw the largest monthly drop in home values of anywhere in the country, according to a new report from home listing site Zillow.

The average value of a single-family home in the San Jose-Sunnyvale-Santa Clara metro area fell 4.5% from June to July...Read more

Dreamstime/Dreamstime/TNS

Motormouth: Do I really need to wax my car?

Business / Business News /

Q: I see you recommend waxing your car twice a year. I have owned more than 30 cars in my life and have never waxed one of them. When my car comes out of the car wash, it looks has good as any of my neighbors' cars. Have you sold out to the wax companies or should I have my eyes tested?

T.C., Chicago

A: Sold out? That’s impossible. I am ...Read more

GM considering Indiana town for fourth battery plant

Business / Business News /

General Motors Co. and LG Energy Solution are considering New Carlisle, Indiana, as the location for their fourth Ultium Cells LLC joint venture battery plant.

Ultium Cells "is developing a competitive business case for a potential large investment that could be located in New Carlisle, Indiana," company spokesperson Brooke Waid said in a ...Read more

Jose M. Osorio/Chicago Tribune/TNS

Want to video chat with Rod Blagojevich, Brett Favre or Sam the hobbit? Cameo adds live calls to its celebrity video offerings

Business / Business News /

Chicago-based Cameo, which built a business out of selling recorded celebrity video greetings, is adding live video chats across its talent roster of actors, athletes and offbeat stars.

Starting Thursday, fans can schedule a 10-minute video call with the likes of former pro wrestler Mick Foley, Sean Astin, who played Sam the hobbit in “Lord ...Read more

Rose Baca/The Dallas Morning News/TNS

How you can cut energy costs through the Inflation Reduction Act

Business / Business News /

The Inflation Reduction Act signed by President Biden this week aims to shift America toward a greener future by lowering the cost of electric vehicles, energy-efficient appliances and rooftop solar panels.

Many consumers will benefit. But it’s complicated — because limitations apply. You will get breaks, but most will come at tax time.

...Read more

Samuel Corum/CNP/Zuma Press/TNS

ESG fund disclosures should be streamlined, investor and advocacy groups tell SEC

Business / Business News /

The Securities and Exchange Commission needs to simplify proposed rules to require more disclosure from funds touting their environmental, social and governance factors, or else the agency will fail to eradicate so-called greenwashing, investment and advocacy groups are warning.

Investors of all sizes, including ESG-focused ones, as well as ...Read more