Automakers are currently racing to fix one of the most significant problems with electric vehicles, charging times. Ultra fast chargers are available that could add 215 miles of range to a battery in 10 minutes, if today's batteries could handle it. Unfortunately they cannot, and so automakers are looking for solutions. Bloomberg's David Stringer reports: A typical, slow-speed public EV charger offers about 20 miles of driving distance per hour at the plug. The next level up, called a fast charger, can add about 75 miles in 30 minutes, according to Los Angeles-based station operator EVgo … [Read more...]
Illinois Politicians Trying to Kill Local Employee Freedom Initiatives
Big Labor is strong in Illinois, and it has marshaled its forces against attempts by local politicians to free their constituencies from the state's burdensome forced unionization laws. Illinois State House politicians are working hard to get a law to the governor banning any individual towns or cities from exercising freedom against Big Labor. Greg Bishop reports for the Illinois News Network: No local government in Illinois would be able to restrict collective bargaining issues for public or private unions under a measure that is one step closer to being sent to the governor’s … [Read more...]
Can Silicon Valley Cut Wall Street out of IPOs?
The workplace messaging app company, Slack, is getting ready for its initial public offering. Rather than using the traditional underwriter process, Slack plans on a "direct listing," on the NYSE. The tech industry's growing use of direct listings on the NYSE could end up being a threat to Nasdaq's dominance of the sector. The Wall Street Journal's Corrie Driebusch and Maureen Farrell write: The workplace-messaging company is set to follow Spotify Technology SA in debuting on the NYSE through a direct listing, according to people familiar with the matter, after the music streamer’s listing … [Read more...]
“Good Stuff Cheap!”
I like this story about Ollie's, a fast growing retail outlet that sells nothing online and focuses on selling “Brands at drastically reduced prices." It reminds me of Building 19 which used to sell “Good Stuff Cheap!” The trick was not to go in looking for something, but to just go in and come across something at a too good to resist price. My mom loved Building 19 and the stock market and even to this day is always careful with her money. At Forbes, Abram Brown reports on the success of Ollie's: The sheriff’s deputy arrives early, assuming his position before 9 a.m. He stands silently, in … [Read more...]
Electric Cars Take the Lead in Norway Sales
For the first time ever, electric cars have outsold fossil fueled cars in Norway for a month. In March, 58% of all car sales were of electric vehicles. NPR's Bill Chappell reports: Electric vehicles are now the norm in Norway when it comes to new car sales, accounting for 58 percent of all car sales in March. Tesla's mass market Model 3 was especially popular, accounting for nearly 30 percent of new passenger vehicle sales, the Norwegian Information Council for Road Traffic, or OFV, says. The figures reflect Norway's desire to move away from fossil-fuel vehicles — with help from lucrative … [Read more...]
Is Jerome Powell Blowing an Asset Bubble?
With a recent U-turn on his plan to continue raising rates and trimming the Fed's balance sheet, Fed Chairman Jerome Powell is targeting higher inflation rates. The policy runs the risk of inflating an asset bubble. Bloomberg's Rich Miller reports: The Federal Reserve risks stoking the same sort of asset bubbles that Chairman Jerome Powell has linked to the last two recessions with its new-found eagerness to fan inflation. The Fed’s surprise pivot away from any interest rate increases this year has boosted prices of stocks, high yield bonds and other risky assets in spite of nagging … [Read more...]
Two Strategies to Avoid Outliving Your Money
In July 2007 there was a sense of unease in the markets and I was warning investors to prepare themselves with a low draw on their portfolios. I also gave investors two ways to help prevent outliving their money. Read here: At the start, retired investors and investors saving seriously for retirement (76 million boomers will begin retiring next summer) must answer two basic questions: (1) What is the proper mix of stocks and bonds? (2) How much money can be drawn annually from an investment portfolio? I have used Ibbotson data and examined 20-year rolling time periods from 1926 on. I have … [Read more...]
The Best States for Retiree Taxation
If you have a few minutes I believe your time will be well spent reviewing this piece I posted back on February 16, 2018. During your working career you can make adjustments on the fly. Paychecks are still coming in, and you can cut some spending to shore up holes in your savings plan. But once you retire, there's no more income to offset any unexpected spending you may have done. That's why you must be acutely aware of how you position yourself and your money in retirement. After you have invested your money to best avoid risk, the biggest threat to your income is taxation. Retirees … [Read more...]
Think Long and Hard about where to Raise Your Family
Your ability to act and stand-up against higher education (as in higher cost), federal, state and local taxes and the politicians that enact them has never been more necessary or crucial to your family’s long-term survival and prosperity. It’s preposterous to believe those living in ivory towers and the politicians controlling your tax dollars know better than you. They don’t. You are the best caretaker for your family and for your money. That’s why it concerns me when blue states, in particular, come after your hard-earned money due to their misappropriating taxpayer dollars for … [Read more...]
This IPO Frenzy is Different
The WSJ reports that the current IPO frenzy featuring the likes of Lyft, Uber, Pinterest, Postmates, and Slack Technologies is different than the IPO frenzy in 1999. Then, many of the firms coming public had little more than a half-baked business plan. The current crop of IPOs includes more established businesses with average annual revenues approaching $200 million. Despite the higher revenue generation, profitability is just as elusive for firms coming public in 2019 as it was in 1999. Maybe this time isn’t so different after all. The WSJ has more details below. One trait that … [Read more...]
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