Despite the pandemic, more than 7 in 10 workers say they are at least “somewhat confident” about retirement, and 8 in 10 retirees feel they’ll have enough to cover their golden years, a survey finds.
However, inflation and the rising cost of living are the top concern among workers and retirees feeling less assured.
While most retirees’ spending is as expected, 1 in 3 said their costs are higher than planned.

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Despite the pandemic, most Americans still feel optimistic about a comfortable retirement, but inflation is the top concern among those who aren’t as prepared.
That’s according to the Employee Benefit Research Institute and Greenwald Research 32nd annual Retirement Confidence Survey polling 2,677 workers and retirees in January.

“Even with the concerns of the pandemic and rising prices, overall, American workers and retirees still feel positive about their retirements,” said Craig Copeland, director of wealth benefits research at EBRI.
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The 2022 findings remain steady compared to 2021, with more than 7 in 10 workers reporting they are at least “somewhat confident” about retirement savings, including nearly one-third who feel “very confident.”
Some 8 in 10 retirees believe they’ll have enough money to live comfortably through their golden years, according to the survey. But the pandemic dimmed optimism for one-third of workers and one-quarter of retirees. 
“The Americans who are more likely to feel that their futures appear grim since the pandemic are those who were already pessimistic about their futures, due to lower incomes, problems with debt or lower health status,” said Copeland.

A strong majority of retirees still feel their retirement lifestyle and spending are on track.

Lisa Greenwald
CEO of Greenwald Research

Unsurprisingly, inflation and rising expenses are the top concern among workers and retirees feeling less confident about retirement.
When asked an open question about the specific reason for waning retirement confidence, one-half cited inflation and the rising cost of living, said Lisa Greenwald, CEO of Greenwald Research.
Annual inflation has crept higher since the survey in January, rising to 8.5% in March, according to the U.S. Department of Labor, affecting the price of everyday expenses like groceries, gasoline and housing.
However, spending changes in retirement may lessen the sting of some rising costs, J.P. Morgan’s 2022 Guide to Retirement found. Excluding health care, retirees may spend less on other costs, such as food and fuel.

While the Retirement Confidence Survey showed most retirees’ spending was as planned, 1 in 3 said they shelled out more than expected, up from one-fourth in 2021, the survey revealed. 
“This could reflect increased use and desire for travel and leisure as the pandemic lulls,” said Greenwald. “It can also reflect inflation and the increased cost of travel and entertainment for some.
“While it is hard to know which reason is driving the higher expenses, a strong majority of retirees still feel their retirement lifestyle and spending are on track,” she added. 
 

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Shares of CarMax were down more than 20% on Thursday after the used auto retailer missed Wall Street’s quarterly earnings and revenue expectations.
The company’s results included earnings per share of 99 cents compared with expectations of $1.05 and revenue of roughly $6.6 billion versus estimates of $7.02 billion.
CarMax CEO Bill Nash described the fiscal second quarter that ended Aug. 31 as “challenging.”

A sign is posted in front of a CarMax dealership on April 10, 2025 in Santa Rosa, California. 
Justin Sullivan | Getty Images News | Getty Images

DETROIT — Shares of CarMax fell 20% in trading Thursday after the used auto retailer missed Wall Street’s quarterly earnings and revenue expectations, leading to the stock’s lowest price in more than five years.
CarMax shares ended Thursday at $45.60 — the stock’s lowest close since March 2020, when the coronavirus pandemic closed down U.S. auto production and many retailers. The stock is down about 44% so far this year, with the company’s market cap at $6.84 billion. 

The company’s quarterly results included revenue of roughly $6.6 billion, down 6% from a year earlier, and adjusted earnings per share of 99 cents. excluding some special factors, according to LSEG. Analysts surveyed by the financial markets data firm had expected earnings per share of $1.05 and revenue of $7.01 billion.
Other key results, such as sales and net income, were also down compared with a year earlier. The company’s overall vehicle sales fell 4.1% compared with the same period a year earlier, assisting in a roughly 28% decline in net income to $95.4 million.
CarMax CEO Bill Nash described the fiscal second quarter that ended Aug. 31 as “challenging” in the company’s quarterly release. He cited changing market conditions, a pull-ahead in sales earlier in the year due to tariff fear-buying and depreciation in its inventory fleet as some reasons for the company’s lackluster performance.
“For the quarter, each month was down year over year, and each month got a little weaker throughout the quarter,” Nash told investors on the company’s quarterly call on Thursday. “But certainly, we put ourselves in a better position with the start of this quarter, both on an inventory position as well as from a pricing standpoint.”
Shares of other car retailers were also down after CarMax’s results, as many investors and Wall Street analysts watch the company’s performance as an early barometer ahead of other quarterly reporting.

Shares of other vehicle retailers such as Group 1 Automotive, AutoNation, Sonic Automotive and Lithia Motors also fell Thursday, losing between roughly 2% and 6%.
Correction: This story has been updated to reflect that earnings per share for the quarter were adjusted. More

Packed planes and more expensive tickets drove down customer satisfaction with airlines over the past year for the first time in a decade, according to a J.D. Power survey published Wednesday.
Customer satisfaction dropped among travelers across all the ticket classes.
In March, domestic U.S. airfares were 20% higher than 2019, according to Adobe data.

Travelers wait in line at Newark Liberty International Airport (EWR) in Newark, New Jersey, on Monday, Jan. 3, 2022.
Christopher Occhicone | Bloomberg | Getty Images

Packed planes and more expensive tickets drove down customer satisfaction with airlines for the first time in a decade over the past year, according to a J.D. Power survey published Wednesday.
“Customer satisfaction with North American airlines climbed to unprecedented highs for all of the wrong reasons during the past two years,” said Michael Taylor, travel intelligence lead at J.D. Power, in the report on North American airlines. “Fewer passengers meant more space on airplanes, less waiting in line and more attention from flight attendants. But that business model was simply not sustainable.”

Air travel demand surged over the past year, along with fares, following a prolonged pandemic slump.
In March, domestic U.S. airfares were 20% higher than 2019 as Covid cases dropped and cities lifted pandemic restrictions on activities such as indoor dining and concerts, according to Adobe Analytics. The rise in ticket prices has outpaced bookings, according to Adobe.
But customer satisfaction dropped among travelers across all the ticket classes — coach, premium economy and first or business class — according to the survey, which was based on responses from 7,004 passengers from March 2021 through March 2022. It was the first year-over-year decline since the 2012 survey, Taylor said.
JetBlue Airways topped the rankings of first- and business-class service among North American carriers, while Southwest Airlines came in first for economy and basic economy.
Here’s how the carriers stacked up and their scores out of 1,000:

First/Business Class

JetBlue Airways (878)
Alaska Airlines (876)
Delta Air Lines (862)
Air Canada (832)
United Airlines (822)
American Airlines (814)

Economy/Basic Economy

Southwest Airlines (849)
JetBlue Airways (828)
Delta Air Lines (813)
Allegiant Air (803)
Alaska Airlines (794)
Air Canada (777)
United Airlines (774)
Spirit Airlines (772)
American Airlines (770)
Frontier Airlines (755)
WestJet (751)

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Ford is redesigning a pivotal product lineup, leaning on new software and connected data metrics, to boost profits in its commercial vehicle business.
The Detroit automaker on Tuesday revealed its 2023 F-Series Super Duty trucks, a lineup of vehicles ranging from large pickups to commercial trucks and chassis cabs.

2023 Ford Super Duty F-350 Limited

DETROIT – Ford Motor is redesigning a pivotal product lineup, leaning on new software and connected data metrics, to boost profits in its commercial vehicle business.
The Detroit automaker on Tuesday revealed its 2023 F-Series Super Duty trucks, a lineup of vehicles ranging from large pickups to commercial trucks and chassis cabs that are used for emergency response, towing and plowing, and construction or utility work.

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The vehicles – part of Ford’s best-selling F-Series truck lineup – are high-margin, key to retaining recurring fleet customers and a major part of Ford’s plans to grow its commercial business.
“These are massively important. Super Duty is the size of revenue of Southwest Airlines, Marriott or Nordstrom. It’s a big part of the business,” Ted Cannis, CEO of Ford Pro, told CNBC. “And now we’re bringing them into the digital age.”
Cannis declined to disclose revenue for Ford’s Super Duty lineup, but Southwest, Marriott and Nordstrom most recently reported annual revenues of between $14 billion and $16 billion. Ford reported more than $136 billion in total revenue in 2021.
Super Duty trucks have more than 50% market share in utility, mining, construction and emergency response vehicles, according to Ford, citing data from S&P Global Mobility.
The designs of the new trucks are notably different on the exterior, featuring redesigned C-clamp lights and larger grilles. But the most important changes for Ford can’t be seen by the naked eye, including new electrical architectures, or brains, of the vehicles. The updates will give Ford the ability to introduce new software, data telematics and fleet management tools, Cannis said.

2023 Ford Super Duty F-550 Chassis Cab

The software tools will help businesses track maintenance needs, vehicle locations, driver behaviors, wasted idle time and other metrics. Fleet operators also can set operation times that would prevent the vehicles from starting outside of approved times.
Such services are viewed as major opportunities for Ford to create recurring revenue throughout the lifecycles of the vehicles – something automakers such as Ford have been unable to achieve beyond regular maintenance and repairs through franchised dealers.
The mission of Ford Pro is to act as a one-stop shop for vehicles as well as the software management that companies use to monitor them, Cannis said, laying the groundwork for subscription-based businesses and additional recurring revenue opportunities for Ford that have historically been the domain of third-party companies.
The connected features are powered by embedded 5G connectivity – a first for pickups in the U.S — utilizing AT&T service and a Qualcomm modem.

2023 Ford Super Duty F-350 Limited

“We’re focused on maximizing productivity, maximizing the bottom line for businesses of all sizes,” Raj Sarkar, Ford Pro general manager of product marketing and strategy, said during a media briefing.  
Ford Pro is one of three main business areas for the company under CEO Jim Farley’s Ford+ restructuring plan, which targets growth and value creation in all three segments in the years to come.
The Super Duty trucks also feature new interiors as well as other trailering and towing updates – both key to owners of larger trucks. The new features include trailer navigation, which plots routes that can be safely navigated with given trailer dimensions and weight to avoid potential issues with low bridges and tight turns, as well as a second backup camera that can be used when the tailgate of a truck is down.
Though Ford is investing billions in electric vehicles, the new trucks are powered by one of four V-8 gasoline or diesel engines. Large trucks such as Ford’s Super Duty are expected to continue to be powered by traditional engines for the foreseeable future.
The 2023 F-Series Super Duty is built at Ford assembly plants in Kentucky and Ohio. Pricing will be available closer to launch in early 2023. The starting prices of the vehicles currently range from about $40,000 to nearly $100,000.
Ford unveiled its new Super Duty products a day after crosstown rival, General Motors, announced updates to its 2024 Chevrolet Heavy-Duty pickup that is expected to go into production the first half of next year.

2023 Ford Super Duty F-250 XL STX

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The Port of Los Angeles, the busiest port in North America, saw record volume in 2021.
Container volume at the port, including imports like furniture and apparel, surged to a record 10.6 million TEUs in 2021, almost 16% higher than the previous year.

A TEU, or twenty-foot equivalent unit, is the industry standard to measure cargo capacity for ships and terminals. One 20 foot container can hold about 400 flat-screen TVs.
But along with that volume came an array of headwinds impacting everyone from retail stores and large manufacturers to port-side communities. 
As of February 16 there was a backlog of more than 70 container ships drifting, slow steaming or waiting outside the Port of Los Angeles. At the same time there were almost 62,000 empty containers at the port’s terminal and off-dock depots.
“Throughout the last two years, you’ve had economies opening and closing and ports doing the same, and factories and all the rest, workers getting sick, truckers being out of work and all of those little mismatches, along with some kind of fundamental ones, between different countries have thrown our supply chains out of balance,” said Scott Lincicome, a senior fellow at the Cato Institute.
Port congestion also has health implications for the surrounding community.

With the logjam of ships idling near the San Pedro Bay ports in October, pollution increased to roughly the equivalent of the emissions from 5.8 million passenger cars.
Trucks, trains and terminal equipment are another source of pollution. Freight transportation is linked to higher rates of asthma, cancer and other illnesses, according to the Clean Air Coaltion.
“The ports are a massive economic hub, there’s no denying it, there’s no denying their global importance, but the impact on people’s health, the impact on people’s quality of life, and the impact on how long they live can also not be denied,” said Chris Chavez, Deputy Policy Director, Coalition for Clean Air.
And it has had worldwide implications, too. In November, 11.5% of global vessel capacity was, in effect, offline as ships waited in queues, according to Sea-Intelligence, a Copenhagen-based maritime data firm. 
So, what is causing the bottlenecks at West Coast ports and what steps are being taken to ease the congestion? Watch the video to learn more.
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