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Michael Hiltzik: Elon Musk thinks Tesla's investors love him. He's very wrong

Business / Business News /

No one who has followed the career of that famously self-effacing and modest business leader Elon Musk could have expected him to boast openly about having secured approval from Tesla shareholders for two important initiatives: moving the company's state of incorporation to Texas from Delaware, and "ratifying" his massive 2018 compensation ...Read more

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Before Boeing CEO hearing, Senate releases new claims of 737 Max fraud

Business / Business News /

Boeing CEO Dave Calhoun's Tuesday testimony before a U.S. Senate subcommittee was already expected to be a hot, uncomfortable reception for him. Now it seems set to be a roasting.

Late Monday, the Democratic majority on the subcommittee released a 200-page document to the press containing allegations from a new Boeing whistleblower alleging ...Read more

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Model Y is No. 1 again on the American-Made Index

Business / Business News /

For the third year in a row, Tesla Inc.’s Model Y is the most American-made car, according to a ranking released Tuesday by Cars.com.

The Jeep Gladiator produced by Stellantis NV was the only Detroit automaker vehicle to rank in the top 10 on the annual list, coming in at No. 8. Meanwhile, Tesla's Model S and Model X also ranked in the top 10...Read more

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US retail sales barely increase in sign of consumer strain

Business / Business News /

U.S. retail sales barely rose in May and prior months were revised lower, pointing to greater financial strain among consumers.

The value of retail purchases, unadjusted for inflation, increased 0.1% after an downwardly revised 0.2% drop in the prior month, Commerce Department data showed Tuesday. Excluding gasoline, sales rose 0.3%.

Of the 13...Read more

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Motormouth: 'Suggested' maintenance

Business / Business News /

Q: I have a 2015 Lexus RX 350 with 66,000 miles. The manual says nothing about changing the differentials oils but only suggests to "check" them periodically assuming the car is used normally and not with heavy tow. The dealer does put the fear of God in you that you should change the oils at low mileage intervals. I finally bought in and ...Read more

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Verbal abuse, a 'sex-driven' culture: Ex-employees describe toxic environment at Guaranteed Rate

Business / Business News /

Victor Ciardelli beamed as his mortgage company, Chicago-based Guaranteed Rate, launched a “financial wellness” and “personal well-being” app last fall before a live audience in Times Square with wellness celebrity Deepak Chopra.

“Something we are passionate about at Guaranteed Rate is caring about people and their overall well-being,...Read more

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Looking for a second career? 'Take it a step at a time'

Business / Business News /

What started out as a job has turned into a profession. Months turned into years. You worked your way up and now make a decent salary.

But things have changed. The company is different, management has been overhauled and your values have transformed. Where you work no longer feels like home.

What now?

Freda Marver of Begin Again Coaching said...Read more

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How to keep workers safe in hot weather

Business / Business News /

For people who work outside or in hot conditions, it can be perilous when temperatures rise during the summer months.

The U.S. Department of Labor’s Occupational Safety and Healthy Administration warns that thousands of people become ill from occupational heat exposure every year — and some people die from heat exposure at work.

The start...Read more

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Prosecutors recommend 15 years in prison for former Outcome Health CEO

Business / Business News /

The former head of the once-prominent startup Outcome Health should serve 15 years in prison, and two other former executives should serve 10 years, after the three were convicted of fraud, government prosecutors told a federal judge Friday.

Former Outcome CEO and co-founder Rishi Shah is scheduled to be sentenced June 25, after a jury found ...Read more

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Why cruise ships docked at the Miami port will plug into giant electrical outlets

Business / Business News /

Cruise ships docked at PortMiami can now plug in for power — a way to cut pollution, save fuel and ride a wave toward a sustainable future.

The world capital of cruising on Monday unveiled what’s called shore power, with executives on hand from five major cruise companies: Carnival Cruise Line, Royal Caribbean International Group, Virgin ...Read more

Reports of phishing scams doubled in 2023, BBB says

Business / Business News /

Reports of online scams doubled in 2023 as artificial intelligence and text-based scams gain popularity among hackers, a new report from the Better Business Bureau says.

More than 9,000 people nationally reported phishing scams — online targeted attempts to steal a person's money or identification by asking for personal information — and ...Read more

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S&P 500 hits 30th record of 2024 as megacaps rally: Markets wrap

Business / Business News /

A rally in several large technology companies drove stocks to all-time highs, with some prominent Wall Street strategists rushing to boost their targets even as many hedge funds grow increasingly cautious.

The S&P 500 hit its 30th record this year, defying concerns about narrow breadth that could make the market more vulnerable to surprises. As...Read more

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Is it safe to give out my card details over the phone?

Business / Business News /

By 2027, worldwide e-commerce sales are expected to reach $7.96 billion — an increase of about 61% over e-commerce sales since 2021, according to a 2024 report from eMarketer. As this trend of internet and phone shopping keeps growing, so-called “card-not-present” (CNP) shopping activity (which are transactions where you don’t physically...Read more

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Not (officially) in my backyard: Illegal California ADUs outpacing permitted ones

Business / Business News /

When it comes to building more of the housing that California needs, the legislative reforms making it easier to build accessory dwelling units have been a major success story: In 2023, one in every five new homes built in the state was an ADU, resulting in 22,802 new homes.

But there is much wider interest in ADUs than that number suggests; it...Read more

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Music publishers urge states to investigate Spotify

Business / Business News /

A trade group representing songwriters and music publishers filed a complaint against Spotify with the Federal Trade Commission last week, alleging the music streaming platform’s decision to bundle subscriptions is deceiving consumers.

The National Music Publishers Association sent its complaint to 10 states, encouraging attorneys general to ...Read more

GM-LG battery plant workers ratify initial deal, UAW local says

Business / Business News /

United Auto Workers-represented employees at General Motors Co.'s first operating joint-venture battery plant in northeast Ohio have ratified an inaugural local contract with the company.

Workers at the Warren, Ohio, Ultium Cells LLC plant, owned by GM and battery supplier LG Energy Solution, approved the new four-year deal with 98% voting yes ...Read more

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UnitedHealth Group's lawsuit against former executives over alleged trade secrets theft dismissed

Business / Business News /

A federal lawsuit filed by UnitedHealth Group against two of its former executives alleging they stole confidential company information to create new companies has been dismissed.

Minnetonka-based UHG alleged Ken Ehlert and Mark Pollman used trade secrets to start up several competing companies, including Sequelae Inc. and Lore Health.

Lore ...Read more

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When will America get its $25,000 electric car?

Business / Business News /

Electric-vehicle prices are falling fast in the U.S., but the cheapest models remain far more costly than what other countries have on offer. The BYD Seagull sells for about $10,000 in China, the Dacia Spring starts at $20,000 in Europe, the Renault Kwid e-Tech costs $19,000 in Brazil, and the Kia Ray goes for $22,000 in South Korea.

So where ...Read more

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Food 4 Less workers in California vote to authorize strike

Business / Business News /

Nearly 6,000 workers at Food 4 Less locations across California this week voted to authorize a strike if Kroger, the grocery chain's owner, continues with what they say are labor violations during ongoing contract talks.

The vote comes after the union, United Food and Commercial Workers, filed multiple claims of unfair labor practices with the ...Read more

Christina House/Los Angeles Times/TNS

Food 4 Less workers in California vote to authorize strike

Business / Business News /

LOS ANGELES — Nearly 6,000 workers at Food 4 Less locations across California this week voted to authorize a strike if Kroger, the grocery chain's owner, continues with what they say are labor violations during ongoing contract talks.

The vote comes after the union, United Food and Commercial Workers, filed multiple claims of unfair labor ...Read more