Tribune News Service
Business Budget for Friday, November 8, 2019
Updated at 2 p.m. EDT (1900 UTC)
Adds WALGREENS-CVS:TB, AUTO-UBER-WAYMO:SJ, CHINA-KARDASHIAN-INFLUENCER:LA, AUTO-DETROIT-FUTURE:DTN
This budget is now available at www.TribuneNewsService.com, with direct links to stories and art. See details at the end of the budget.
^As LA ports automate, some workers are cheering on the robots<
WRK-PORTS-AUTOMATE:LA — Day after day, Walter Diaz, an immigrant truck driver from El Salvador, steers his 18-wheeler toward the giant ports of Los Angeles and Long Beach. Will it take him a half hour to pick up his cargo? Or will it be as long as seven hours? He never knows.
Diaz is paid by the load, so he applauds the arrival of more waterfront robots, which promise to speed turnaround times at a port complex that handles about a third of the nation's imported goods.
"I'm for automation," Diaz says. "One hundred percent. One hundred percent."
1950 by Margot Roosevelt in Long Beach, Calif. MOVED
^Why solar is seeing a boost during California's wildfires<
^ENERGY-SOLAR-WILDFIRES:SD—<Widespread power shutoffs across the Golden State during peak wildfire season have spurred demand for what's called "solar-plus-storage" as a way for customers to keep their lights on.
"Calling it an 'uptick' would be an understatement," said Barry Cinnamon, CEO of Cinnamon Energy Systems, a Silicon Valley-based solar company. Cinnamon said the level of inquiries has more than doubled and his company "had just about the best month ever" in its seven-year history.
"There's a lot of people who said, 'I've been hesitant to put in solar and now I want to put in solar and a battery, too.' And there's a lot of people who have existing systems but now they want to add a battery."
1000 by Rob Nikolewski. MOVED
^New questions raised on safety of both Boeing 737 Max and 787 Dreamliner<
^BOEING-MAX-DREAMLINER:SE—<Lawmakers are pursuing new safety issues with two Boeing jets — the 737 Max and the 787 Dreamliner — and questioning how in each case managers at the Federal Aviation Administration (FAA) backed Boeing's contention that there was no cause for concern despite objections from the safety agency's own technical experts.
The revelations, contained in a letter from the leaders of the U.S. House Committee on Transportation and Infrastructure, come a week after they chaired an intense public hearing where Boeing CEO Dennis Muilenburg was grilled about the 737 Max crashes in Indonesia and Ethiopia that killed 346 people.
1250 by Dominic Gates. MOVED
^OTHER BUSINESS NEWS<
^As Chicago considers minimum wage proposal, a new study finds that black female tipped workers are struggling to make ends meet<
WRK-TIPPED-WORKERS-CHI:TB —As Chicago considers a proposal to raise the minimum wage to $15 an hour by 2021, a new study shows that black female workers in tipped positions in the city struggle to make ends meet.
One Fair Wage, a New York-based nonprofit that advocates for ending the subminimum wage, the lower wage that tipped workers collect, released a report on Thursday that found more than 27% of black workers in Chicago's dining industry were living in poverty, compared to about 18% of white workers in the same occupation.
500 by Abdel Jimenez in Chicago. MOVED
^Walgreens has more stores worldwide. CVS fills more prescriptions. Both are trying to compete as the pharmacy business changes.<
^WALGREENS-CVS:TB—<Walgreens said this week it is considering a deal to take the Deerfield-based company private. A day later, CVS reported revenue of $65 billion, up more than 36% from the same period a year prior. The fight is fierce as both drugstores try to gain a leg up in the industry by offering more health services and specialty products like cosmetics to attract customers.
Walgreens and CVS are taking different approaches to changes in consumer shopping behavior and the pharmacy business.
Here's how they stack upl
500 by Abdel Jimenez. MOVED
^Kim Kardashian enters China's influencer world. She says she'd love to eat hot pot and play mah-jongg<
CHINA-KARDASHIAN-INFLUENCER:LA — Twelve million people watched as Kim Kardashian West opened a mah-jongg set on screen, displaying the domino-like tiles of the popular Chinese game.
The Los Angeles-based reality TV celebrity was speaking on a livestream channel run by Chinese influencer Viya, a spunky, bright-eyed woman in her 30s with more than 9 million followers on China's e-commerce platform Taobao, many of whom are die-hard fans who call themselves "women of Viya."
Every night, the livestream shopper hawks cosmetics, purses, apparel and snacks online.
This is what's known in China as "social commerce," a full fusion of social media and online shopping. In China's online ecosystem, where e-payments, livestreaming and e-commerce are fully integrated — as if Amazon, Instagram and Paypal all existed on one platform — influencers such as Kardashian have become a major driver of consumption.
That drive is ramping up as Nov. 11, China's "Singles' Day" and the largest shopping day of the year, approaches.
1000 by Alice Su in Beijing. (Moved as a world story.) MOVED
^Those classic Shelby race cars in 'Ford v Ferrari' aren't what they seem<
^AUTO-SHELBY-RACECARS:LA—<When director James Mangold's new movie "Ford v Ferrari" hits theaters Nov. 15, car nuts may find themselves asking where the filmmakers found all those classic Carroll Shelby race cars from the 1960s, which sell for millions of dollars when they become available.
They didn't. The filmmakers borrowed modern versions of those vehicles from Irvine-based Shelby Legendary Cars and its parent company, Superformance, the only companies in the world licensed by the legendary race car designer to build and sell new versions of the Ford GT40s and Cobras that made their namesake into a supercar superhero.
1200 by Charles Fleming. MOVED
^Wrench, Seattle mobile car-repair company, raises $20M to fuel expansion<
AUTO-WRENCH:SE — In just three years, Seattle-based Wrench has expanded into all 50 states, swallowed two similar startups and raised more than $30 million.
The company's app allows vehicle owners to book house calls for such problems as battery and radiator replacements, oil changes and brake jobs. Wrench announced this week it has raised $20 million in its most recent round of funding, led by Vulcan Capital. Longtime investor Madrona Venture Group, along with Tenaya Capital and Marubeni Corp., participated as well.
600 by Keerthi Vedantam in Seattle. MOVED
^Uber says it may have to pay Waymo for self-driving car technology<
^AUTO-UBER-WAYMO:SJ—<It appears that Uber is going to be dealing with the after-effects of its self-driving car technology trade secrets suit with Waymo for some time to come.
In a filing with the U.S. Securities and Exchange Commission, Uber said that it "will likely" have to either enter a licensing deal with Google's Waymo, or make some high-priced changes to its autonomous driving software, after an independent software expert found Uber to still be using some Waymo technology after the two companies reached a legal settlement to their case in February 2018.
350 by Rex Crum. MOVED
^Motor City stakes claim to be capital of autos' future<
AUTO-DETROIT-FUTURE:DTN — The Motor City's historic strength in manufacturing is enabling it to become the center for the future of the automotive industry.
Just a few years ago, conventional thinking assumed Silicon Valley's tech heavyweights held the upper hand in producing the next generation of vehicles. That was before the extensive problems experienced by electric-vehicle start-up Tesla Inc. in building EVs at its California plant, among other challenges to the tech-will-prevail thesis.
1100 by Kalea Hall in Detroit. MOVED
^Auto review: With the Levante GTS, Maserati proves its mastery of Ferrari-powered SUVs<
^AUTO-LEVANTE-REVIEW:MCT—<When high-end sports car manufacturers started producing SUVs, purists were outraged — and understandably so. Ideally, sports cars should be small, lightweight and nimble, effortlessly able to reach high speeds, something that doesn't fit the description of a vehicle engineered for going off-road.
But automakers were reacting to a fundamental shift in what people desire in an automobile: the need for cargo hauling utility. San American trip to the supermarket requires more lifestyle debris than Norwegian explorer Roald Amundsen needed to reach the South Pole for the first time in 1911.
This is why consumers find any vehicle other than an SUV a non-starter, and why vehicles like the 2020 Maserati Levante GTS exist.
750 by Larry Printz. MOVED
^Hyundai Palisade and Kia Telluride twins battle for best 3-row SUV<
^AUTO-PALISADE-TELLURIDE-REVIEW:DTN—<Two three-row Korean SUVs — the Hyundai Palisade and Kia Telluride — are just remarkable.
Introduced, respectively, at the 2018 Los Angeles and 2019 Detroit auto shows, the Palisade and Telluride wowed with good looks and high-tech interiors. But as these vehicles have come to market, the automotive world is realizing they offer game-changing value.
Both feature luxury styling, that — when paired with their standard content — should make anyone question why they are paying tens of thousands more for a three-row luxury sport-utility.
1250 by Henry Payne. MOVED
^2019 Ford Expedition pulls like a beast, drives like a Winnebago<
^AUTO-EXPEDITION-REVIEW:PH—<Coming off a redesign for 2018, the Ford Expedition carries over with just a few enhancements for the 2019 year (and 2020 as well). But it's still a worthy competitor to the Enclave, Sequoia and Telluride, offering three rows and plenty of space.
The 3.5-liter EcoBoost V-6 powering the Expedition — the only engine choice — produces 375 horsepower and 470 pound-feet of torque. Motor Trend says it hits 60 mph in 6.2 seconds, but it sure feels like trying to navigate a single-family house along the way. The Expedition doesn't hold a straight line well under duress, starting or stopping.
800 by Scott Sturgis. MOVED
^DAILY MARKETS GRAPHIC <
Find here a daily Wall Street roundup graphic featuring Dow Jones Industrial Average, S&P 500 and Nasdaq data.
The 1-column x 4-inch graphic, Wall Street, will be posted by 6:30 p.m. EDT Monday through Friday.
To find the graphic, visit the Graphics section of TribuneNewsService.com.
Those with questions regarding the graphic should contact the graphics team at 312-222-4131 or email@example.com.
These features regularly move on Friday:
AUTO-MOTORMOUTH:TB — Automotive advice from Bob Weber of the Chicago Tribune.
^Under the Hood: Indicator-based maintenance recommendation systems are not ideal<
^AUTO-HOOD:MCT—<Honda doesn't offer maintenance schedules in their manuals. You're supposed to use the letter codes as they pop up. Unfortunately, the minder keeps getting reset at 5,000 miles for oil changes, and I don't have a chance to see it. It's a 2010 Fit with 96,000 miles. Have I passed the time for tune-up?
550 by Brad Bergholdt. MOVED
^The Week Ahead: The hearing you may not hear about<
^WEEKAHEAD:MI—<The U.S. House Intelligence Committee begins holding public hearings as part of the House impeachment inquiry in the week ahead. Four long blocks away from the epicenter of impeachment politics, the most powerful man in global finance will also be talking.
On Wednesday, Federal Reserve Jerome Powell is scheduled to testify before the Joint Economic Committee of Congress. It is a semi-regular appearance for the top central banker to share his view with Congress. But he won't be the one in the spotlight.
400 by Tom Hudson. MOVED
^RECEIVE TNS BUSINESS BUDGETS BY EMAIL<
You can now have the Tribune News Service business budget emailed to you each day. Just send an email request to firstname.lastname@example.org. If you want to add other recipients, or need a user ID and password for our website, please let us know.
To unsubscribe from this group and to stop receiving emails from it, send an email to: email@example.com.
^TCA VIDEO NETWORK<
Tribune News Service distributes video of news, entertainment, business and sports stories. For help with a video, please contact our newsroom at 312-222-4196 or email firstname.lastname@example.org.
Tribune News Service is available on our website, www.TribuneNewsService.com. Subscribers can access 30 days' worth of budgets with clickable links to stories and art; stories searchable by subject and category with links to images; and an easy-to-search archive of more than 1 million items — stories, photos, graphics, illustrations, paginated pages and caricatures.
Subscribers who now receive the News Service via AP DataFeature can also have access to these Internet features. To obtain a user ID and password, please call Rick DeChantal at Tribune Content Agency, 1-866-280-5210, Ext. 4544 or e-mail email@example.com.
Some new Web browsers and add-ons to existing Web browsers that are designed to block pop-up advertising may conflict with a la carte purchasing. For more information on this problem and how to prevent it, please visit www.TribuneNewsService.com/guide/use/blockpopups.php.
News Service: firstname.lastname@example.org
Photo Service: email@example.com
2019, Tribune Content Agency