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AUTOMOTIVE
LIFO Tax Relief Gains Support
US Sen. Sherrod Brown, D-Ohio, has introduced a bill that would give dealers up to three years to restore inventories. Auto dealers will have the option to defer tax payments until inventory levels stabilize.
Support. The Senate bill follows earlier legislation in the House that remains unsupported by the Treasury. Each bill has bipartisan support within the lawmaking body.
Telling it like it is — Maybe deferring tax payments will have the same effect on the supply chain issues as deferring rent has on water heater repairs?
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AUTOMOTIVE
Ford's Q1 Moves
Ford posted better than expected Q1 results citing strong vehicle pricing that offset higher costs and inflations. The company maintains profit forecasts for the year despite investment setbacks, with their Rivian stocks leading to a $3.1B shortfall for the quarter. Ford owns a 12% stake in Rivian and has lost $5.4B on the investment so far but continues to hold the stock.
Refocus. Ford also announced 580 US employee cuts as part of its Ford+ plan. The cuts include 350 salaried and 230 agency positions, mainly in engineering, as the automaker focuses on EVs.
Telling it like it is — Remember a few weeks ago when Ford said “Nah, we aren’t splitting our business?”
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AUTOMOTIVE
Nissan's Japanese Output Plunges
The Japanese automaker Nissan reported a 44% drop in production in its Japanese plants for March. According to a spokesperson, the company has delayed the launch of the Nissan Z car from June to "this summer." Nissan blames supply chain disruptions for the developments.
Telling it like it is — The line between disrupting existing production and launching new products is an interesting one. Where would you fall?
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CLUBHOUSE
This week David Long and the All Things Used Cars community dive into data, questions, and insights surrounding car shopper experience and expectations. Are YOU prepared for a changing market? Join us on Clubhouse this Friday!
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TECH
Amazon Launches Starlink Competition
Amazon signed a deal with three companies for 83 launches to deliver some of its 3,236 Project Kuiper internet satellites.
- United Launch Alliance for 38 launches
- Arianespace for 18 launches
- Blue Origin for 12 launches
Amazon has options for 15 more launches with owner Bezo's Blue Origin commercial space company.
SpaceX. While Starlink's competition is entering the market, Elon Musk's private space company has just delivered four astronauts to the International Space Station.
Un-imaginitive Competition 101 — “People are paying that guy for spaceships and satellites…I need to get some spaceships and satellites.”
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The Right People Everytime
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CRYPTO
OneFootball Raises $300M
The Berlin-based soccer media company, OneFootball, has raised $300M for planned expansion into a Web3 presence. The company will enable clubs, leagues, federations, and players to release digital assets and fan-centric experiences.
NFTs and Gaming. The company hopes to bring true digital ownership and decentralization to soccer fans. Several digital asset and investment groups are backing the project.
Telling it like it is — Soccer is basically a global language. We wonder how this partnership will paint future perspectives of digital assets?
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QUICK HITS
- Your brain ain't broke, study finds Zoom meetings stifle creativity.
- California created the largest wildlife crossing in the world over busy highway
- Following years of requests, Toyota GR Supra adds manual transmission
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