Auto review: The 2021 Genesis G90 supplies what American automakers once delivered, but no longer do
There seems to be some impression that the best cars have rock-firm suspensions sure to shatter your vertebrae. Yes, a firm suspension provides exceptional cornering ability, but what works best on racetrack isn’t always what works best in the real world, where clogged arteries and crumbling highways, not glass-smooth race track, are a fact of life.That’s what makes the 2021 Genesis G90 so welcome. In an era where most Americans have become truck drivers in a mistaken belief that they need a glorified station wagon with all-wheel drive, the Genesis is a reassuring nod to tradition — a full-siz...
Tribune News Service
Seismic Trump, Biden rift has automakers taking sides
DETROIT — Just days after Donald Trump won the 2016 election, the trade group representing major automakers in Washington called for reconsideration of the Obama administration’s fuel-efficiency standards in the face of low gas prices and large capital investments.Now, the industry is at odds, with General Motors Co. and Fiat Chrysler Automobiles NV supporting the Trump administration’s national standard that rolls back the requirements. Meanwhile, Ford Motor Co. has backed the efforts of California and other coastal states to impose stricter standards that would reduce tailpipe greenhouse gas...
The Detroit News
GM nabs big hire from airline industry as its next CFO
The man whom Delta Airlines credits for guiding it through crisis as the coronavirus pandemic swept the nation will become General Motors’ new chief financial officer.GM said Friday it has hired Paul Jacobson, 48, as executive vice president and CFO effective Dec. 1.Until then, John Stapleton will continue in two roles: As GM’s North America chief financial officer and as acting global CFO, a role he stepped into Aug. 31.“Paul is a great addition to the GM senior leadership team and is dedicated to leading the company for the benefit of all stakeholders,” said GM CEO Mary Barra, whom Jacobson ...
Detroit Free Press
N95s, other health care products continue to buoy 3M as economy recovers
Strong sales to the health care industry helped 3M beat Wall Street’s third quarter profit and sales forecasts.Maplewood-based 3M Tuesday announced profits of $1.41 billion or $2.43 per share, down 11% over a year ago but nicely above the $2.26 consensus estimate by stock analysts.3M’s third quarter sales tallied $8.4 billion, increasing 4.6% over a year ago and topping estimates of $8.29 billion.3M’s sales in the health care sector have increased during the COVID-19 pandemic as its N95 respirator mask is considered critical for worker protection. But much of the rest of 3M had been battered b...
Star Tribune (Minneapolis)
Excess deaths, major losses and the US as the world's COVID epicenter: How the pandemic looks to the reinsurance industry
CHESTERFIELD, Mo. — When Americans want to cushion their families from the financial impact of their deaths, they buy insurance. And when insurance companies want to protect their businesses from such untimely expirations, they buy insurance, too.Now, with more than 1 million coronavirus deaths worldwide, and millions sick, the companies that insure insurers — called reinsurers — are taking it on the chin.The COVID-19 pandemic has battered the industry. Top companies, including the Reinsurance Group of America, have reported hundreds of millions in payouts, leading to huge losses in some secto...
St. Louis Post-Dispatch
Alaska Airlines to furlough or lay off more employees as COVID-19 grips travel industry
As federal aid for airlines runs out and negotiations over more coronavirus relief stall, Alaska Airlines has begun cutting nearly 450 more flight attendants and other employees from its payroll while borrowing $1.3 billion from the U.S. Treasury.The furloughs, first reported by online aviation magazine The Points Guy, were hardly unexpected. In June, Seattle-based Alaska announced it would begin slashing 3,000 jobs from its 23,000-person workforce starting at the end of September to bring expenses more in line with revenues, which have plunged as the COVID-19 pandemic curtailed travel.The vas...
The Seattle Times
Republicans warn Pa. shale gas industry of economic 'disaster' if Democrats win
Pennsylvania’s natural gas industry faces an existential threat if Joe Biden and Democrats sweep into office in the Nov. 3 election, Trump administration officials and supporters told a Marcellus Shale Coalition conference on Tuesday.U.S. Energy Secretary Daniel Brouillette and U.S. Sen. Pat Toomey, R-Pa., speaking at a conference sponsored by the industry trade group, warned of job losses, energy shortages, price increases and an erosion of national security if climate activists succeed in banning fracking and in curtailing development of fossil fuel resources and infrastructure, such as pipe...
The Philadelphia Inquirer
Virtuoso reveals travel trends for fall, holidays and 2021
Virtuoso has found that more and more people fed up with months at home are ready to get out and travel. High-end travelers are especially intrigued by work- and learn-from-anywhere offers that can extend to weeks- to monthslong vacations.Because of this new willingness to explore, there are signs of stabilization within the industry, say Virtuoso advisers.Virtuoso research found that, across all regions, domestic beach and island destinations as well as ocean cruises are making up the majority of new bookings.One of the most important factors for clients booking international trips is flexibl...
Trump makes wild claims about revitalizing auto industry at Michigan rally
FREELAND, Mich. — President Donald Trump made wildly inaccurate claims at a rally outside Saginaw on Thursday night, suggesting he has revitalized auto manufacturing in the state when it actually lost jobs even before coronavirus hit in March.“We brought you a lot of car plants, we brought you a lot … and we’re going to bring you a lot more,” Trump began his speech at MBS International Airport in Freeland.But only one new major assembly facility, a Jeep plant on Detroit’s east side, has been announced during Trump’s term, while General Motors underwent a divisive 40-day strike last year and an...
Detroit Free Press