Susan Tompor/Detroit Free Press/TNS

Susan Tompor: I-Bond rates can be an inflation hedge

Business / Business News /

As the cost of bacon and other goods sizzles, more people want to protect their savings from getting burnt to a crisp by inflation.

One simple move, which I wrote about this past summer as well, involves setting aside some money in inflation-protected savings bonds, known as I Bonds.

You're likely going to hear even more about I Bonds come ...Read more

Russ Mitchell/Los Angeles Times/TNS

Tesla's $1 trillion valuation belies revenue position

Business / Business News /

Tesla Inc. has joined the trillion-dollar-valuation club as the member with the lowest revenue.

The electric-vehicle maker’s shares have run past several milestones over the past couple weeks amid a rush of positive news, including reaching a rarefied $1 trillion in market value on Monday. That helped further bolster sentiment among investors...Read more

General Motors/General Motors/TNS

GM to restart limited Bolt production to make loaner cars for owners with recalls

Business / Business News /

General Motors is restarting the plant that makes its Chevrolet Bolt electric vehicles for a limited time to strictly make courtesy loaner cars for the 140,000 Bolt owners affected by global recall.

On Tuesday, GM said that starting Monday, it will bring back the 1,000 workers at Orion Assembly in Orion Township, Michigan, to start making 2022 ...Read more

General Motors/TNS/TNS

GM partners with dealers to install 40,000 EV Level 2 chargers

Business / Business News /

DETROIT — General Motors Co. is partnering with dealers to ramp up the installation of electric vehicle charging stations as it prepares to put more battery-powered cars and trucks on the road.

Through the Dealer Community Charging Program being revealed Tuesday, GM will work with dealers to get up to 40,000 Level 2 chargers installed across ...Read more


Carla Fried: Medicare -- what they don't tell you

Business / Business News /

In less than 15 years, Americans 65 years old and older will outnumber Americans under 18.

If you’re one of millions rounding the bend toward 65 in the next decade or so, getting up to speed now on Medicare's intricacies will help you avoid costly mistakes. To get you started, here are more nuanced takes on five truisms about Medicare.

—�...Read more

Tyger Williams/The Philadelphia Inquirer/TNS

The Restaurant Revitalization Fund was underfunded and oversubscribed. Why didn't it spread the wealth better?

Business / Business News /

All is not rosy in restaurant land. Nationally, 90,000 spots have closed permanently or long term. Locally, employment in food-service and accommodation is down by 33%, and the number of businesses behind on their bills rose by 66%. Sales are slowing, labor and food costs are growing, and winter is on the horizon again as the pandemic plows on. ...Read more


Worn-out nurses hit the road for better pay, stressing hospital budgets -- and morale

Business / Business News /

In parts of the country where COVID-19 continues to fill hospitals, a rotating cast of traveling nurses helps keep intensive care units fully staffed. Hospitals have to pay handsomely to get that temporary help, and those higher wages are tempting some staff nurses to hit the road, too.

Nearly two years into the pandemic, there’s some truth ...Read more

Michael Loccisano/Getty Images North America/TNS

Longer COVID-19 school closures seen denting students' future earnings

Business / Business News /

U.S. students who experienced the longest school closures during the pandemic will face lower future earnings and are less likely to go to college, a new study shows.

Comparing children from the top quartile of income distribution to those from the bottom quartile, welfare losses are about 0.8 percentage point larger for the poorer children, ...Read more

Scott Olson/Getty Images North America/TNS

John Deere and Kellogg's workers are on strike. Could that lead to more strikes?

Business / Business News /

Times were tough in the heartland in the mid-1980s.

Family farms fell into foreclosure in what was known as the Farm Crisis, and John Deere, the equipment manufacturer, cut thousands of workers. In 1986, UAW-represented John Deere workers launched a strike, while the company reported its first annual loss in 53 years, according to the New York ...Read more


Carla Fried: Too many retirement accounts? How to get organized

Business / Business News /

If you’re approaching retirement, chances are you’ve had more than a few job changes. A government report tracking baby boomers (born 1946 to 1964) estimates they hopped jobs an average of 12 times before hitting their mid 50s.

Orphaned 401(k)s

Even if you changed jobs half as much, you likely have a few 401(k) accounts you left behind. ...Read more


Financial media firm Benzinga sold to Toronto private equity firm

Business / Business News /

A Toronto-based private equity firm has acquired a majority stake in Benzinga, a financial media company headquartered in downtown Detroit whose early backers included Dan Gilbert.

The Beringer Capital deal, announced Monday, is expected to keep Benzinga's operations and key staff in Detroit, according to Benzinga founder and CEO Jason Raznick,...Read more

Carline Jean/South Florida Sun Sentinel/TNS

Wages lag as rent prices soar, so Florida renters are forced to make sacrifices

Business / Business News /

Wages aren’t keeping up with soaring rents in South Florida, and that’s forcing many renters to make sacrifices and difficult choices between basic necessities and paying their landlords.

While rents in the region have surged an average of 22% higher than last year, income has only risen between 8% and 10%, according to ATTOM Data, a ...Read more

Arne Edström/Volvo/TNS/TNS

Green groups cry foul on clean hydrogen hype

Business / Business News /

WASHINGTON — Hydrogen may be touted as the low-emission transportation fuel of the future when batteries would be too heavy or expensive, such as aviation and long-haul trucking. But which hydrogen?

Environmental advocates are raising concerns that some forms of hydrogen aren't as clean as they're made out to be. And they say that Congress' ...Read more


Hertz orders 100,000 Teslas in car-rental industry shake-up

Business / Business News /

Hertz Global Holdings Inc., barely four months out of bankruptcy, placed an order for 100,000 Teslas in the first step of an ambitious plan to electrify its rental-car fleet.

The cars will be delivered over the next 14 months, and Tesla Inc.’s Model 3 sedans will be available to rent at Hertz locations in major U.S. markets and parts of ...Read more

Jason Armond/Los Angeles Times/TNS

US aid to renters picked up to $2.8 billion in September

Business / Business News /

State and local governments picked up the pace of distributing emergency rental assistance funds in September amid a push from the Biden administration to accelerate payments to households.

A program record of $2.8 billion was released last month, bringing the total to $10.7 billion, out of the $46.5 billion appropriated by Congress to prevent ...Read more

Jay L. Clendenin/Los Angeles Tim

Disneyland ticket prices go up as much as 8%, with parking rising 20%

Business / Business News /

Disneyland and neighboring California Adventure Park raised most daily ticket prices Monday and are adopting an even higher price to visit on the most popular days of the year, such as Christmas and New Year's Eve.

Daily ticket prices are jumping 3% to 8%, with standard daily parking rates going up by 20%. The parks last raised ticket prices by...Read more

Robert Cohen/St. Louis Post-Dispatch/TNS

Why is Illinois' biggest utility company mining Bitcoin near one of its coal-fired power plants?

Business / Business News /

WEST ALTON, Illinois — In farmland near the banks of the Mississippi River, the state's largest electric utility has stuffed a shipping container full of high-powered computers, in the shadow of one of its coal-fired power plants.

The project, launched quietly this year at Ameren Corp.'s Sioux Energy Center here, is a controversial experiment...Read more

Joe Burbank/Orlando Sentinel/TNS

With gentle pushback, businesses want Florida to let them choose their vaccine rules

Business / Business News /

TALLAHASSEE, Fla. — As Florida Gov. Ron DeSantis calls legislators into special session next month, the quiet pushback of the powerful business industry is already being felt.

Although the governor may have declared war on employer vaccine mandates, he has also carefully steered clear of any talk that he will ask legislators to outlaw the ...Read more


Trump's tech SPAC could make him billions with meme-stock frenzy

Business / Business News /

Donald Trump’s sagging fortune is suddenly poised to get a massive boost from meme-stock mania.

News this week that the former president’s nascent media enterprise, Trump Media & Technology Group, is planning to go public via a special purpose acquisition company (SPAC) has sent retail investors into a frenzy, even with few details ...Read more

Arianne Cohen: Even with Google, knowing stuff is crucial to basic reasoning

Business / Business News /

What’s the difference between socialism and communism? How does global warming occur? What’s an economy of scale?

Easily Google-able questions — and parents’ own unhappy recollections of learning that relied on rote memorization — may encourage households to lighten up on the accumulation of knowledge in young minds. “They can ...Read more