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Ford Motor Co./Detroit Free Press/TNS

High gas prices are hitting heavy-duty pickup owners hard. Here's what they're saying

Business / Business News /

LOS ANGELES — That silver Dodge Ram Warlock with the 5.7-liter V-8 Hemi engine must have looked pretty sweet when gasoline prices hovered around $4 a gallon. Now, with gasoline topping $6 a gallon at some Los Angeles-area stations, a bit of sour’s been added to the mix.

Record-high gasoline and diesel prices are combusting driver budgets ...Read more

Dan Kitwood/Getty Images Europe/Getty Images

Bitcoin offers no refuge from COVID-19 market rout

Business / Business News /

On a day when investors needed a place to hide, one alternative area of the market wasn’t providing any refuge: Bitcoin.

The world’s largest cryptocurrency had its worst day in more than two months, slumping almost 8% to about $54,350 as of Friday afternoon amid a rout in world stock markets on the emergence of a potentially dangerous ...Read more

Antonio Perez/TNS

Econometer: Do American shoppers need to learn to be more like Europeans?

Business / Business News /

Supply chain issues are disrupting retailers and restaurants, but a recent Bloomberg Opinion piece argues that Americans need to act more like Europeans who traditionally buy less.

Allison Schrager, a Bloomberg opinion columnist, writes that household consumption by Americans grew about 65 percent from 1990 to 2015, compared to 35 percent in ...Read more

Howard Lipin/San Diego Union-Tribune/TNS

Black Friday starts out slow as shoppers brave COVID risks, order backlogs

Business / Business News /

LOS ANGELES — Ashton Caudillo headed out with his father early Friday morning to the Westfield Santa Anita in Arcadia looking for a hard-to-find PlayStation 5 well before the mall’s 7 a.m. opening. What they found surprised them: only a handful of other shoppers.

The 20-year-old’s father, Lawrence, has a distinct memory of Black Fridays ...Read more

Justin Sullivan/Getty Images North America/TNS

Elizabeth Holmes trial: Holmes signals intent to blame ex-lover Balwani for alleged Theranos fraud

Business / Business News /

SAN JOSE, California — In a strong signal that Theranos founder Elizabeth Holmes will seek to blame her co-accused and ex-lover Sunny Balwani for alleged fraud at her failed startup Theranos, the defense team has asked the judge in her trial to let them put statements previously made by Balwani before the jury.

In a motion filed this week, ...Read more

FCA/Detroit Free Press/TNS

Dodge drops Hellcat V-8, previews new age of electric Muscle

Business / Business News /

The Era of Electrification has claimed its first big scalp.

Dodge is ending production of its iconic, V-8-powered Hellcat Challenger and Charger muscle cars models by 2023 as the brand transitions to a mix of electrified EV, hybrid, and plug-in drivetrains in the face of government regulations forcing battery-powered vehicles. The high ...Read more

Ongoing chip shortage shakes up car buying with fewer choices, higher prices and big profits for some dealers

Business / Business News /

The semiconductor shortage has disrupted the auto industry throughout 2021, halting production, reducing inventory and raising prices, a formula that has left some frustrated buyers searching for any tires to kick.

For some Chicago-area dealers, the scarcity of new cars has made for a surprisingly good year, as demand outstrips supply, and ...Read more

Outta their way: Black Friday shoppers brave the supply backlogs, COVID risks

Business / Business News /

In the most consumptive nation on Earth, Black Friday in the U.S. has long been viewed as the ultimate looking glass: reflecting all that is good, bad and so-so about the world’s largest economy. This year, it’s that, and then some.

Supply-chain bottlenecks have led to short supply of merchandise, with many goods out of stock. Inflation is ...Read more

Honda/Honda/TNS

What's your car worth? Honda, Lexus take home JD Power Residual Value Award, again

Business / Business News /

Buy a new home and you can track its value on Zillow or Redfin. Buy a new car and JD Power is at your service tracking residual value.

If you own a Honda or Lexus, then your asset is looking pretty good.

That's the conclusion of ALG, a division of JD Power, and its 2022 Residual Value Awards which honor the Japanese companies as the top brands...Read more

Auto review: Subaru heads for the wildness with a more-off-road-oriented Forester for 2022

Business / Business News /

In an era when shopping and working are done online, and the need to be anywhere is less essential than ever, the demand for all-wheel-drive vehicles with the ability to get anywhere at any time makes little sense. But neither does the fact that Americans have bought 15 million Chia Pets.

This explains the new for 2022 Subaru Forester ...Read more

Auto review: Porsche Cayman GTS sings sweet music for the sports car purist

Business / Business News /

In this age of rapid technological change, we crave analog experiences. We enjoy unplugged instrumental music. Or cozying up with a page-turning novel rather than a digital Kindle. In the auto world, the normally aspirated, rear-wheel-drive manual sports car is the purist's choice. MX-5 Miata, Mustang GT, Subaru BRZ.

The summit of the art form ...Read more

Al Seib/Los Angeles Times/TNS

Near strike by Hollywood crews could be a sign of things to come

Business / Business News /

The day before Los Angeles-based art department coordinator Crystal Hopkins voted against her union's proposed new contract, she stepped down as president of Local 871.

Hopkins said she was resigning from the post she won in 2018 in part because of concerns about the new agreement negotiated by the International Alliance of Theatrical Stage ...Read more

Anna Moneymaker/Getty Images North America/TNS

Michael Hiltzik: There's a right way and a wrong way to think about inflation. Here's a right way

Business / Business News /

Is there an economic term that strikes more fear into the hearts of consumers than "inflation"?

Probably not. When inflation is rising even modestly, it becomes Topic A in the press, on cable news and over the proverbial backyard hedges and dinner tables.

Inflation is commonly regarded as a ravager of family budgets, a destroyer of political ...Read more

Joe Raedle/Getty Images North America/TNS

The Week Ahead: Why revised history is important in the job market

Business / Business News /

The American job market is a laggard, but it is catching up faster than it may first appear.

The U.S. economy is bigger than it was before the COVID-19 pandemic began. The stock market is higher. But there were 3.6 million fewer jobs in October compared to the end of 2019.

Closing that gap is a key factor for the Federal Reserve for how and ...Read more

Los Angeles Times/TNS

A broken supply chain isn't a problem for the logistics industry. It's a moneymaking opportunity

Business / Business News /

Thirty thousand high-end snow globes are trapped in California's San Pedro Bay, split between two shipping containers on two ships in the idle flotilla offshore.

One ship arrived in late September; the other in late October. They've been stuck at anchor ever since.

Liz Ross, co-founder of CoolSnowGlobes, says that at this point in the season, ...Read more

Dreamstime/Dreamstime/TNS

Arianne Cohen: Are you paying $2,000 a year for a useless parking spot?

Business / Business News /

If you want to save money on housing, here’s a tip: Avoid shouldering the costs of accompanying parking spots.

Parking spots are among the more expensive accouterments of housing. Two spots are around 360 square feet, which matches the square footage of this writer’s first Manhattan apartment — and that doesn’t factor in the space used ...Read more

DAVID SANTIAGO/Miami Herald/TNS

Florida lawmakers to consider subminimum wage; critics decry it as 'loophole' to $15 an hour

Business / Business News /

A year since Floridians approved Amendment 2 to gradually raise the state’s minimum wage to $15, a Republican lawmaker is again looking for a way to pay workers less.

State Sen. Jeff Brandes of Pinellas County refiled a joint resolution that would authorize the Legislature to establish a subminimum wage potentially as low as $4.25 an hour ...Read more

Terrence Antonio James/Chicago Tribune/TNS

Hitting the stores on Black Friday? Here's what to expect from another year of pandemic-era holiday shopping

Business / Business News /

Black Friday may not bring hordes of predawn deal hunters to stores the way it used to, but there’s still plenty of shopping expected to happen Thanksgiving weekend.

The National Retail Federation is forecasting record holiday sales of $843.4 billion or more during November and December, up 8.5% compared with last year. But earlier-than-usual...Read more

Dreamstime/Dreamstime/TNS

Carla Fried: Homebuyers -- don't rely on warranties

Business / Business News /

Home buyers remain in a tough bind, chasing after homes amid steeply rising prices.

The average price per square foot in Chicago is up more than 25% in the past year. In Salt Lake City, the average price per square foot has increased more than 20%. In Dallas, the price per square foot has increased more than 25% in the past year. And let’s ...Read more

IKIN/IKIN/TNS

Holograms on the horizon? San Diego company seeks to make futuristic technology mainstream

Business / Business News /

Remember R2D2 beaming a hologram of Princess Leia pleading for help from Obi-Wan-Kenobi in the first Star Wars movie back in 1977?

Now a San Diego company aims to bring similar holograms to real life on desktop and handheld devices.

IKIN, founded four years ago by Taylor Scott Griffith and Joe Ward, is working on volumetric hardware, "neural ...Read more