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TNS Business Budget for Friday, November 26, 2021

Tribune News Service logoTribune News Service 11/27/2021

Updated at 9 p.m. ET (0200 UTC)

Adds BC-AUTO-GAS-PRICE-PICKUPS:LA

TOP STORIES

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

SUPPLYCHAIN-OPPORTUNITY:LA — 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.

1592 by Sam Dean, Los Angeles Times. MOVED

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

RETAIL-BLACKFRIDAY-1ST-LEDE:LA — 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 past, when hordes of people made the experience less than pleasant, so he wasn’t complaining.

1359 by Laurence Darmiento, Anumita Kaur, Angel Carreras, Salma Loum, Los Angeles Times. MOVED

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OTHER BUSINESS NEWS

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

WRK-HOLLYWOOD-CREW-STRIKE:LA — 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 Employees.

852 by Anousha Sakoui, Los Angeles Times. MOVED

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

THERANOS-HOLMES-TRIAL:SJ — 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, Holmes’ attorneys said that they had sought to call Balwani — the former Theranos president who she has alleged in court filings coerced, controlled and abused her in ways that affect the issue of guilt — to testify at her trial, but his lawyer said that if called, he would invoke the Fifth Amendment, refusing to testify to protect against self-incrimination. A lawyer for Balwani did not immediately respond to a request for comment.

808 by https://www.mercurynews.com/2021/11/26/elizabeth-holmes-trial-holmes-signals-intent-to-blame-ex-lover-balwani-for-alleged-theranos-fraud/, The Mercury News. MOVED

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Bitcoin offers no refuge from COVID-19 market rout

CORONAVIRUS-CRYPTO-STOCKS:BLO — 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 coronavirus variant. The S&P 500 index closed down 2.27% at 4,594.62

436 by Emily Graffeo, Bloomberg News. MOVED

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AUTO STORIES

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

AUTO-SEMICONDUCTORS-DEALERS:TB — 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 profits soar.

1083 by Robert Channick, Chicago Tribune. MOVED

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

AUTO-DODGE-HELLCAT:DTN — 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 horsepower, supercharged hemi engines have defined the brand for the last six years, driving an increase in sales as Dodge stuffed Hellcat V-8s into everything from its muscle cars to the three-row Durango SUV.


Video: CNBC TechCheck Evening Edition: December 1, 2021 (CNBC)

UP NEXT
UP NEXT

1327 by Henry Payne, The Detroit News. MOVED

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

AUTO-JDPOWER-RESIDUAL-VALUE:DTN — 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.

657 by Henry Payne, The Detroit News. MOVED

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

AUTO-GAS-PRICE-PICKUPS:LA — 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 across the land, small car or large. But filling up a pickup truck or truck-size SUV burns hottest, given the extra weight and lower gas mileage that come as a trade-off for utility and size.

1102 by Russ Mitchell, Brian Contreras, Los Angeles Times. MOVED

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AUTO REVIEWS

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

AUTO-CAYMAN-REVIEW:DTN — 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 is the Porsche Cayman GTS.

1197 by Henry Payne, The Detroit News. MOVED

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

AUTO-FORESTER-REVIEW:MCT — 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 Wilderness, a new trim level first seen on the Subaru Outback that tarts up the exterior, raises the car’s ride height, adds knobby, off-road tires and adds touches of gold trim that’s almost gaudy. But Subaru has long thrived on being the automotive equivalent of Merrell outdoor gear.

908 by Larry Printz, Tribune News Service. MOVED

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DAILY MARKETS GRAPHIC

Wall Street roundup

GPH-WALL-STREET—Daily Wall Street roundup graphic featuring Dow Jones Industrial Average, S&P 500 and Nasdaq data. Available on TribuneNewsService.com.

The 1-column x 4-inch graphic, Wall Street, will be posted by 6:30 p.m. ET Monday through Friday.

Questions about the graphic? Contact the graphics team at tcagraphicseditors@tribpub.com.

GRAPHIC

COLUMNS

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

HILTZIK-COLUMN-INFLATION:LA — 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.

2141 by Michael Hiltzik, Los Angeles Times. MOVED

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

ECONOMETER-COLUMN:SD — 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 Europe.

1121 by Phillip Molnar, The San Diego Union-Tribune. MOVED

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Motormouth: Faulty warning light

AUTO-MOTORMOUTH-QA:MCT — Q: I own a 2000 Honda Accord. It constantly shows the red brake light on the dash. Previously, the light would appear only intermittently. I had the brakes checked out two different times and everything is in good condition. How can I correct this?

T.M., Sugar Grove, Illinois

679 by Bob Weber, Tribune News Service. MOVED

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

WEEKAHEAD:MI — 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.

375 by Tom Hudson, Miami Herald. MOVED

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