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I had no clue what a bitcoin trader was when my older brother started to talk about it, that was about eight years ago. At any rate he talked me into giving him about a thousand dollars back then. I could afford it because I was living rent free with my girlfriend at the time. Of course he ended up making a whole lot of money doing this stuff, or what seems like a whole lot of money to people like me. So I kept buying the stuff and now I have the sort of problem that a lot of people would like to have. Of course when you look at the course history, year after year, the price of bitcoin has continued to rise. Obviously there are wild swings in both directions, so if you watch the news too closely you might go a little bit crazy from the rise and fall of the prices. If you are clever that allows you to make huge profits, but you could just as easily buy when you should have sold or vice versa.
At any rate I really nervous some times and it makes me think that I should put some of the money in an investment which does not make me so nervous. One of the big things appears to be the government, which has never had much love in it’s heart for bitcoin. There are a lot of people who use the stuff for reasons that involve things the government does not like. If you were a criminal, then the stuff would allow you to get around a huge problem with that sort of business. Obviously the people who like to avoid paying taxes see it as a great avenue for that and you know the IRS is not going to sit around and let that happen.…
Uber Freight, the rideshare company’s trucking division, said Thursday it’s acquiring shipping software company Transplace in a deal that values the transportation logistics company at $2.25 billion.
Uber shares were slightly positive Thursday morning.
Uber Freight will acquire Transplace from TPG Capital, the private equity platform of alternative asset firm TPG that acquired Transplace in 2017. The deal consists of of up to $750 million in common stock of Uber and the remainder in cash.
It’s a rare move for Uber, which has spent the last year shedding its profit-eating self-driving unit and flying taxi segment. Instead, Uber has been choosing to pour billions into strengthening its Uber Eats segment, acquiring alcohol delivery company Drizly and food delivery service Postmates.
Uber Freight chief Lior Ron said in an interview on CNBC’s “TechCheck” that the deal is a continuation of the company’s long-term vision, which is to bring digital transformation to the industry. Transplace makes software that helps companies manage their supply chains to ship goods. The company claims it operates one of the largest software platforms for supply chain management and logistics in the world.
Uber Freight, a separate division of Uber, offers similar software tools to manage supply chains and shipping. Uber Freight says it has over 70,000 carriers on its network that can ship items for companies.
Uber Freight booked $301 million in revenue in the first quarter of this year, up 51% year over year. Despite the growth, Uber Freight contributes just a small slice of Uber’s overall revenue, the bulk of which comes from rides and food delivery.
The deal is expected to help Uber’s trucking division reach profitability. The company said it could help the segment break even on an adjusted EBITDA basis by the end of 2022.
The deal is still subject to regulatory approval.
Uber is a six-time CNBC Disruptor 50 company. Sign up for our weekly, original newsletter that offers a closer look at CNBC Disruptor 50 companies like Uber, before they go public.
The Lincoln Motor Company recently revealed a quartet of concept cars aimed at depicting the types of vehicles the automaker might potentially produce in 2040, and the designs are shocking and compelling in all the best ways. The concepts were created by four teams of transportation design students at the ArtCenter College of Design in Pasadena, California—one of the world’s premier institutions for up-and-coming automotive thought—and were based on a very simple brief.
“We didn’t want to restrain or limit the students, so we had very few descriptors,” says Kemal Curic, Lincoln’s design director, who helped shepherd the project into existence. “We wanted an autonomous, electric, and shared two-seater, four-seater, high-riding four-seater, and six-seater. We wanted to include our brand pillars of humanity, beauty, and gliding, based on our vision of Quiet Flight, which is what Lincoln stands for. And we said, let’s dream up something the world has not yet seen.”
The results are quite stunning, and complete, in part because the automotive students worked in conjunction with colleagues in other design departments—film, illustration, animation, and architecture—to create not just vehicles, but also stories of the worlds in which these vehicles might exist.
A two-seat autonomous Glider is inspired by Lincoln Zephyrs and Continentals of the past—Streamline Moderne vehicles from the ’30s and ’40s, favored by Frank Lloyd Wright—and we see a son allowing his paralyzed father to experience the joy of “driving” again. A four-seat sedan loads up digital images that provide a couple with scenes from their 30-year marriage as they tour locations where these memories were made. A four-seat SUV takes a family on an adventure, displaying images from their mother’s initial connection with astronomy as she prepares to go into space. And a six-passenger luxury cruiser, built out like a living room, takes an up-and-coming band on a relaxing drive as they prepare for their first big gig.
“I was mesmerized by the visualization,” says Curic. “I love putting all these diverse skill sets together where we focus not only on the vehicle but also on the feeling these vehicles will convey in 2040. I was blown away by the architecture, environmental, and storytelling bit. They do a lot of Hollywood work at ArtCenter, so it’s all about the narrative.” These narratives help communicate more fully how the appearance of the car might change—but, perhaps more important, how it might be integrated into our lives in new ways as technologies and needs shift. Curic notes the “intriguing architecture and buildings, and the vehicles built into these backgrounds…[the stories give a] more holistic sense of our future incorporating cars into the built environment,” says Curic.
Moreover, the designs demonstrate a shift in the ethos of the next generation of automotive designers, as they
STANDISH, MI — An East Tawas man has pleaded guilty-as-charged to crashing into a bicycle-riding teenager, fatally injuring him in the process.
Mark Elliott, 63, on Wednesday, July 14, appeared before Arenac County District Judge Richard E. Vollbach Jr. and pleaded guilty to moving violation causing death. The charge is a one-year misdemeanor.
Elliott’s charge stems from a crash that occurred the afternoon of Aug. 31 at the intersection of U.S. 23 and Beach Road in East Tawas. Michigan State Police troopers arrived at the crash scene to find a northbound 2019 Dodge Ram driven by Elliott had crashed into a bicycle ridden by 16-year-old Dohnovan X. Newcome.
Newcome had been riding his bike through a crosswalk when the Ram struck him, police previously said.
Newcome was taken from the scene to a hospital, where he died of his wounds.
Elliott was prosecuted by the Michigan Attorney General’s Office, as local prosecutors had recused themselves due to a familiarity with Elliott and requested a special prosecutor handle the case.
“While no court outcome will ever offset the pain inflicted on Dohnovan’s family and friends, Mr. Elliott’s admission of guilt in this tragic case avoids a drawn-out trial,” said Michigan Attorney General Dana Nessel. “It is my hope this plea provides a sense of justice and relief for Dohnovan’s loved ones.”
Newcome was a junior at Oscoda High School at the time of his death, according to his obituary. Earlier on the day of his death, he had begun the automotive program at the IRESA Tech Center in Tawas City.
“Dohnovan was enthralled with everything about cars and was so excited about learning even more through the Tech Center program,” his obituary reads. “He used his 16 years to the fullest and had wisdom and compassion beyond his years!”
Newcome enjoyed playing soccer, working on computers, playing car games on his Xbox and spending time outdoors, including cross-country skiing. As a youngster, he hunted and collected bugs. In his teen years, he taught himself how to play guitar.
“He developed a love for the band Metallica and discovered that he and his mom had the same taste in heavy metal music, both secular and Christian,” his obituary continues. Newcome was a member of the Oscoda Baptist Church and volunteered at the Oscoda Wurtsmith Airport’s Air Museum.
Judge Vollbach is to sentence Elliott at 9:30 a.m. on Aug. 12.
Teenager on bike killed in northern Michigan community of East Tawas
Trial looms for 1st of 3 men charged with killing Bay City man in 2019 attempted marijuana robbery
Morning crash on I-75 in Bay County claims life of West Branch woman, 78
EV startup Lightyear has announced a letter of intent with contract manufacturer Valmet Automotive as a production partner of its upcoming Lightyear One solar electric vehicle (SEV). Through this new partnership, prototypes of the Lightyear One will be built in January 2022, with an exclusive series production to follow in the summer.
Lightyear is a Netherlands-based EV startup specializing in SEVs. We’ve covered the automaker since its inception and continue to follow it as it moves ever closer to delivering its first SEV, the Lightyear One.
From very early on, the startup has promised an impressive range of 450 miles on a single charge in the Lightyear One, garnering some early skepticism from the public as a startup with limited prototypes.
Not to be discouraged, Lightyear has since gathered huge rounds of funding and even partnered with big automotive names like Bridgestone for custom tires on the Lightyear One. Most recently, Lightyear delivered 441 miles of consistent range on a 60 kWh battery pack, gathering about 3.5 additional kWh from its solar panels.
As the Lightyear has its targeted range in its sights, it looks to manufacture its next prototype before reaching a limited production run of the Lightyear One next year, all with the help of Valmet Automotive.
Lightyear One to be manufactured by Valmet
In a press release today, Lightyear shared its letter of intent to work with Valmet Automotive as a production partner in manufacturing the upcoming Lightyear One SEV.
Valmet Automotive is a contract manufacturer with over 50 years of experience with high-end automotive brands like Mercedes-Benz, Saab (RIP), and Porsche, and has been developing and producing electric vehicles for the last decade.
After over a year of searching, Lightyear believes it has found its production partner in Valmet due to its experience with EV production. Lex Hoefsloot, CEO and co-founder of Lightyear elaborates:
Two years ago, we announced our prototype Lightyear One. We are really excited to have found a production partner with whom we will manufacture this exclusive model. Valmet Automotive is a great partner, has a well-established track record and over a decade of experience in EV production. It’s also a good cultural fit with our company. We are proud that we will soon realize the actual production of Lightyear One with Valmet Automotive.
In addition to manufacturing vehicles and various components, Valmet also has its own battery production line in Finland and has invested heavily in additional engineering and testing capabilities for EV powertrains. The company’s CEO Olaf Bongwald speaks about the new agreement:
Our experience as a car manufacturer, as well as our focus on electric mobility and battery systems make us predestined for processes in which mobility must be redefined. We are ready
LAKEWOOD, Colo. (KDVR) – No one was hurt after a vehicle ended up in a pool in Colorado on Thursday afternoon.
Police in Lakewood say the incident occurred when a teen driver accidentally put the vehicle — an Infiniti — in reverse. The driver and the adult passenger got out safely. The teen driver has been cited for careless driving.
Police thanked fire crews for helping with the follow-up work, as well as a local towing company that assisted officers in getting the car out of the water.
The incident, while serious, also inspired a few “carpool” jokes on Twitter. But the Lakewood Police offered up their own knee-slapper, which they deemed to be the best possible one-liner.
“Just FYI, the best line for this is ‘Check out our new Infiniti Pool.’ Everyone else is battling for second place.”
But two new reports indicate that things may be starting to cool off.
Wholesale used car prices — what car dealers pay for the cars they sell to customers — fell in the first two weeks of July, while used vehicle inventories at dealerships increased,according to Cox Automotive.
In addition, the retail price of used cars — the amount consumers pay — has continued to increase, but at a slower pace over the past month, according to aseparateCox Automotive report. While it’s not certain yet, Cox Automotive analysts think retail prices will start coming downover the coming weeks.
Getting all the way back to normal will still take a long time, however, said Charlie Chesbrough, a senior economist at Cox Automotive.
Used car prices have been driven to extremes, thanks to a combination of demand from consumers wary of taking public transportation and a major shortage in the computer chips needed to make new cars.
The average price of a used car in the United States passed $25,000 for the first time ever at the end of June, a 26% increase from the year before and up 29% from two years ago.
Wholesale used car prices are also beginning to taper off. According to a recent Manheim Used Vehicle Value Index report, wholesale used car prices, overall, are still up almost 25% compared to a year ago. But, in the first weeks of July, prices dropped 1.7% compared to the month before.
These price comparisons are statistically adjusted for the differing mix of vehicles sold and for normal seasonal fluctuations, according to Cox.
“The latest trends in the key indicators suggest wholesale used vehicle values will continue to see a similar amount of depreciation in the days ahead,” the report said.
Manheim, a subsidiary of Cox Automotive, is America’s largest seller of wholesale used vehicles to auto dealers.
While the used car market is no longer at a full rolling boil, it will take some time for ordinary car shoppers to notice a difference, Chesbrough said.
“This frenzy to acquire inventory is backing off a little bit so the price is starting to come down a little bit,” Chesbrough said. “That generally means that, four to eight weeks from now, on the retail side, we should see the froth come down a little bit, a little bit less upward pressure.”
Used car prices still aren’t expected to return to anywhere near what theywerebefore the coronavirus pandemic anytime soon, he said.
“My sense is that given the supply shortage on the new[car] side, we’re looking at a used market that’s going to be constrained for supply for the foreseeable future,” he said, “and those prices are going to remain elevated as a result.”
CHIPPEWA FALLS, Wis. (WEAU) -Bicycling helped him on the road to recovery after a car crash in 2014. Today he’s using that passion to help others.
“40…45..50…55…60…65…66. 466.” Michael Van Dusseldorp counts the tick marks on the wall of his garage turned bicycle shop called New Life Recyclery.
The marks represent the number of bicycles he has fixed since starting in March.
“Once I get something in my head I just go for it, and that’s kind of what this turned into, and I was like I love this, and honestly now nothing else matters because this is where my heart’s at,” Van Dusseldorp said.
Van Dusseldorp takes bicycles in just about any state. If he can’t fix it up, he can try to use its parts to repair a different bike.
After fixing one up, the next step is to give it to someone in need.
“You can give someone a bus pass, but a bus pass too, it expires or buses only go to certain spots,” Van Dusseldorp said. “With this, they have a bike that is their own. They actually own something which gives them that kind of sense of pride, and it allows them to go anywhere.”
This mobility is a chance at a fresh start.
That’s something bikes helped Van Dusseldorp with after experiencing head trauma from a car crash.
“I was constantly in pain, and just laying in bed feeling sorry for myself, and it got worse and worse which made my depression worse and worse because I felt useless,” Van Dusseldorp said. “It wasn’t until I started doing bikes, and I obviously have to ride and test them and make sure they are okay after I fix them, and I started doing that, and I was like oh, I actually feel kind of better.”
One bicycle at a time, Van Dusseldorp said his greater goal is to let those who may be homeless know that someone cares.
New Life Recyclery is expanding its services.
It also offers food, tents, work boots and more for those experiencing homelessness.
To find out more or for details on how you can help, click HERE.
In the news release, Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles, issued 22-Jul-2021 by Penske Automotive Group, Inc. over PR Newswire, in the first sentence of the second paragraph, Cox Automotive’s technology should be “Esntial Commerce” and not “Essential Commerce”, as originally issued inadvertantly by PR Newswire.
Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles
Digital Platform Enables Consumers to Transact 100% Online
BLOOMFIELD HILLS, Mich. and ATLANTA, July 22, 2021 /PRNewswire/ — Penske Automotive Group, Inc., (NYSE:PAG) and Cox Automotive, Inc. (“CAI”), announced today they have jointly developed a transformational, fully automated technology platform to enable the online retail sale of used vehicles. The automated online buying platform, which is owned exclusively by Cox Automotive,allows consumers to select from high-quality, preowned vehicles through PAG’s U.S. CarShop used vehicle SuperCenters and franchised dealerships.
Cox Automotive’s patent-pending artificial intelligence retail technology, Esntial Commerce™, powers CarShop’s U.S. digital platform to provide consumers with an automated,100% online vehicle purchase. Features include personalized monthly payments across all inventories, trade-in capabilities, application, approval for financing, digital contracting, and digital signatures.
Esntial Commerce offers payment personalization based on the consumer’s risk profile, selected vehicle, and preferred deal structure using an AI/machine learning algorithm. Offering actual financing and the ability to immediately transact online allows consumers to move forward confidently, knowing their financing has been approved.
This industry-first scalable eCommerce platform and its artificial intelligence enable automation for retail operations so that consumers can:
Instantly compare up to four vehicles
Receive personalized payments for the consumer’s selected vehicles based on each consumer’s credit profile, including payments for taxes, titling, and other fees
Select their payment terms based on credit profile
Add aftermarket protection products
Determine trade-in value
Receive approval for financing
Complete and sign deal paperwork online
Make any required down payment
Arrange for delivery directly to the consumer’s preferred location, either at home or one of CarShop’s U.S. locations
CarShop is the first retailer in-market with Cox Automotive’s industry-leading solution. Penske Automotive Group Chair Roger Penske said, “Over the last year the PAG and CAI teams have collaborated on this unparalleled technology that delivers a completely digital solution to the marketplace. This new digital platform meets the digital-first demands of today’s customer while providing us with the opportunity to offer our customers 100% online functionality.”
“Penske’s CarShop powered by Cox Automotive Esntial Commerce delivers personalization, F&I automation, and a seamless closing of the transaction when buying a vehicle online,” said Steve Rowley, President, Cox Automotive. “No one has delivered an automotive eCommerce solution that can scale to support the industry’s transformation for retailers and for consumers – until now. As our solution matures, we expect it to drive both consumer satisfaction and profitability.”
PAG has launched this fully functioning digital platform in select markets through its CarShop used vehicle SuperCenters at www.carshop.com. Cox Automotive continues to focus on development to further enhance the user experience, operational efficiencies, market
D.C. Police Chief Robert Contee asked for the public’s help in identifying a silver sedan used in a Friday night drive-by shooting that left six-year-old Nyiah Courtney dead.
D.C. Police Chief Robert Contee, flanked by D.C. Mayor Muriel Bowser at a Saturday afternoon news conference, asked for the public’s help to identify a silver sedan used in a Friday night drive-by shooting that left six-year-old Nyiah Courtney dead.
Contee also said a reward no less than $60,000 is being offered to anyone who can provide information leading to an arrest in the crime that killed the girl and wounded five others.
“Together we will do whatever it takes to close this case in a swift and professional manner,” Contee said.
Contee said Nyiah would have been starting the first grade this fall. “And now that won’t happen,” he said.
He urged the community to come together to curb the ongoing gun violence in the city.
“We have a collective responsibility to ensure our children have every opportunity to be safe from violence. I am asking that we all stand together and say no more. I am sick and tired of being sick and tired,” Contee said.
Police released a video Saturday showing a silver sedan driving through the intersection of Martin Luther King Jr. and Malcolm X avenues in Congress Heights at approximately 11 p.m. Friday. Contee described the event as “a drive-by shooting.”
In total, six people were shot, including Nyiah Courtney, who was taken to a hospital where she would be pronounced dead. Three men and two women were also taken to area hospitals with non-life-threatening injuries.
Contee and Bowser urged city residents to help police identify the owner of the vehicle, its driver and other passengers.
“We ask that people take a moment to see if they recognize the car and provide tips or information to bring closure for Nyiah,” Contee said.
Justice for Nyiah was the news conference theme.
“We know from past instances that the community can help us close cases by sharing information or simply reposting images,” he added.
The FBI and the ATF are partnering with D.C. police to help identify the shooter. The agencies also contributed towards the reward.
During the news conference officials acknowledged they did not yet know what the motive for the shooting was.
Community members attending the news conference said they wanted more from the police.
“I charged the police with a simple thing,” Bowser said. “What I believe is we don’t let people get away with murder in our town. We have to stand up against it. We don’t let anybody get away with murder. And we don’t do street justice because then other innocent people get caught up in it. Law enforcement is responsible for arresting and ensuring justice.”