Dear MacKenzie Bezos: You're rich. You're free. Now what?

Business / Business News /

Dear MacKenzie,

Is it all right that I call you that? I feel a little weird about it, but would feel even weirder if I called you Mrs. Bezos, considering all that's going on.

There was last week's divorce announcement, via Twitter, in which you and your husband, Amazon founder Jeff Bezos, announced your decision to split after 25 years and ...Read more

Some home shoppers are calling it quits, convinced that prices have peaked

Business / Business News /

LOS ANGELES -- Two years ago, Mike Saavedra moved to Southern California, equipped with a new high-paying healthcare job and a plan. The former Arizona resident would rent by the beach while becoming familiar with neighborhoods where he may want to purchase a house.

But a few months after starting his search, the Manhattan Beach renter cut it ...Read more

Anonymous donor puts up $500,000 for interest-free loans for federal employees affected by shutdown

Business / Business News /

PHILADELPHIA -- Marshal Granor got the phone call a week ago, from a person expressing what so many have since a battle over a border wall thrust hundreds of thousands of federal workers into the middle of a political standoff and their own personal financial frenzy.

"My heart is breaking," were the words the real estate lawyer heard from the ...Read more

Despite the government shutdown, Trump's efforts to gut Obamacare go full speed ahead

Business / Business News /

A good portion of the federal government may be shut down, but you can rest assured that the devoted Obamacare saboteurs at the Department of Health and Human Services are on the job.

Late Thursday, they released proposed rule changes for the 2020 health insurance year -- and requests for comments on further changes -- that will drive up ...Read more

Judge blocks Trump administration from processing permits for offshore seismic tests

Business / Business News /

WASHINGTON -- A federal judge in South Carolina on Friday blocked the Trump administration from processing seismic testing permits for offshore oil drilling, a setback for the administration's efforts to assist energy companies during the partial government shutdown.

U.S. District Judge Richard Gergel issued an injunction that stops the ...Read more

Tesla to cut 7 percent of workforce as road ahead looks 'very difficult'

Business / Business News /

Tesla Chief Executive Elon Musk stunned Tesla's employees when on Friday he said the electric carmaker will cut 7 percent of its workforce as it drives forward with its plans to produce a new, lower-priced version of its Model 3 sedan.

Musk made the announcement in a letter to Tesla employees that he posted on the company's blog Friday morning....Read more

2019 Lincoln Nautilus steering technology may not work on some SUVs

Business / Business News /

DETROIT -- Ford Motor Co. recalled about 2,700 of its brand new 2019 Lincoln Nautilus luxury SUVs on Wednesday because steering control technology may not work, which could increase the risk of crash.

The company said that it is not aware of any accidents or injuries.

A strong selling point for the Lincoln Nautilus, which costs about $40,000, ...Read more

Hungry for cash, Musk says company can no longer afford free Supercharging for new buyers

Business / Business News /

Tesla needs more cash. To help keep what it's got from flying out the door, Chief Executive Elon Musk on Wednesday announced the end of a customer referral program that offers free Supercharging to new buyers.

"It's adding too much cost to the cars, especially the Model 3," Musk said in a tweet late Wednesday. The referral program, originally ...Read more

'We're going to electrify the F-Series,' Ford exec says

Business / Business News /

DETROIT -- Ford Motor Co. confirmed plans to build a fully electric F-Series pickup, which industry observers called an unexpected move that protects the truck franchise against Tesla and other competitors.

"We're going to be electrifying the F-Series -- battery electric and hybrid," Jim Farley, Ford president of global markets, said this week ...Read more

Economist: Auto industry could create the next recession

Business / Business News /

The North American International Auto Show in Detroit will once again give car lovers reasons to brave the crowds and the cold, such as a chance to see the 2020 Ford Shelby GT 500 in the steel flesh.

But the auto show's backstory is clouded by potential economic stumbling blocks at every corner -- ranging from pinched pocketbooks to stormy ...Read more

The Week Ahead: Markets missing data

Business / Business News /

The stock market is not the economy. And as the partial government shutdown drags on, that has never been more accurate.

In the week ahead, several regularly scheduled economic releases will be missing. The Commerce Department has been shuttered since Dec. 21. The department's Census Bureau is responsible for collecting and disseminating a ...Read more

Auto review: 2019 Lexus ES 350 gets lost between the old and the new

Business / Business News /

Has Lexus lost its way? This is the question I kept coming back to in the redesigned 2019 Lexus ES 350 midsize sedan. The seventh-generation ES 350 is a quiet, sophisticated ride in the Lexus way, but the technology hasn't kept up with the modern competition.

It has grown longer (2.6 inches), wider (1.8 inches) and a bit lower; the wheelbase ...Read more

Mark Phelan: At 700-plus horsepower, 2020 Shelby GT500 is the ultimate Mustang

Business / Business News /

DETROIT -- If Ford Motor Co. is serious about planning its future around electric vehicles, it's hard to imagine a better curtain call for its gasoline performance cars than the 700-plus-horsepower 2020 Mustang Shelby GT500.

Exhaust pipes the size of paint cans -- literally; they're 5 inches across -- promise an engine note to wake the dead ...Read more

Larry Printz: The passionate man behind the all-new 2020 Toyota Supra

Business / Business News /

DETROIT -- Everyone has had one car in their life that holds a special place in their heart. For Akio Toyoda, grandson of Toyota founder Kiichiro Toyoda, that car is the Toyota Supra, a model last seen in the U.S. in 1998.

"Back in the day, my Supra and I spent countless hours together as I learned to become a master driver," Toyoda told the ...Read more

Auto review: Kia updates midsize Optima sedan for 2019 with design tweaks, new technology features

Business / Business News /

Kia's midsize Optima sedan got an exterior and interior "freshening" for 2019, the first key changes since the gasoline-only models moved into their fourth generation for 2016 and the hybrid versions arrived in their second generation for 2017.

There are four gasoline-only trim levels for 2019, starting with the LX 2.4 ($22,900, plus $920 ...Read more

Massive expansion is planned for O'Hare Airport; here are 5 plans

Business / Business News /

Chicago officials on Thursday unveiled five striking designs for a massive expansion of O'Hare International Airport, many with swooping roofs and some with quirky features like hammocks where travelers could take a nap before flights.

The proposals from top architects for the $8.5 billion expansion, whose centerpiece will be a new global ...Read more

Larry Printz: Making Toyota's Supra super

Business / Business News /

With the rebirth of the Toyota Supra for 2020, Toyota is reviving what many fans consider its most iconic model, one that owed its start to America.

In 1970, Toyota, then the world's fifth-largest automaker, launched the Celica sport coupe to compete against the Ford Mustang. When redesigned for 1978 at Toyota's Calty Design Research Center in ...Read more

Sears creditors object to Chairman Edward Lampert's successful $5.2 billion bid to keep chain open

Business / Business News /

Sears Holdings Corp. confirmed Thursday that Chairman Edward Lampert won a bankruptcy auction with a $5.2 billion proposal to keep the retailer in business and preserve 45,000 jobs.

The bid includes "substantially all" of the Hoffman Estates-based retailer's assets, including the remaining Sears and Kmart stores, the company said in a news ...Read more

Tribune Publishing names new CEO as 3 executives depart

Business / Business News /

Tribune Publishing CEO Justin Dearborn has stepped down after nearly three years at the helm, the Chicago-based newspaper company announced Thursday.

Longtime Chicago newspaper executive Tim Knight was named CEO, effective immediately. Knight, who had served as president of the company, will also join the Tribune Publishing board.

Board member...Read more