Raphael Stevens

In this articleGMThe new 2019 Chevrolet Silverado 1500 makes its official debut at the 2018 North American International Auto Show January 13, 2018 in Detroit, Michigan.Bill Pugliano | Getty ImagesDETROIT — Shares of General Motors closed at a new record Tuesday after the automaker confirmed plans to produce an all-electric Chevrolet Silverado pickup at an assembly plant for EVs that’s under construction in Detroit.The automaker’s stock closed up 1.5% at $61.94 a share, setting a new closing record, after hitting an intraday high of $63.44 earlier Tuesday. Both the closing and intraday prices were all-time records since the automaker emerged from bankruptcy at the tail end of the Great Recession and started publicly trading again in 2010. GM’s market cap is $89.25 billion.The performance of GM’s stock this year, up roughly 50%, has been driven by a steady array of announcements related to electric vehicles. It’s also validating comments made last month by GM CEO Mary Barra about the stock’s future potential.”I think as the market begins to see all of the assets and resources General Motors brings to this transformation, I think we’re just at the beginning of where you’ll see GM’s stock move,” she said in an online discussion March 11 during The Economic Club of New York’s Women in Business event.The electric Silverado is part of a previously announced $2.2 billion investment in the plant to produce an array of its next-generation EVs beginning later this year with an all-electric GMC Hummer pickup. Other planned vehicles for the facility include the recently unveiled Hummer EV SUV and an autonomous multi-passenger shuttle known as the Cruise Origin.The 2024 GMC Hummer EV SUV and 2022 GMC Hummer EV sport utility truck, or SUT.GMConfirmation of the Silverado EV came days after the automaker unveiled a new SUV version of its upcoming GMC Hummer EV.Earlier this year, the company also announced a new all-electric commercial vehicle division called BrightDrop. It also announced plans to exclusively offer electric vehicles by 2035.The new vehicles are part of GM’s plan to release 30 new EVs globally by 2025 under a $27 billion investment in electric and autonomous vehicles during that time frame. The company plans to sell at least 1 million EVs annually by then. More

In this articleT”Godzilla vs. Kong” shattered expectations both in theaters and on the HBO Max streaming service, offering some hope for the hard-hit film industry that audiences will return to theaters. “I think people really miss going out and having fun,” said Joshua Grode, CEO of film production company Legendary Entertainment on CNBC’s “The Exchange” on Tuesday. Legendary partnered with Warner Bros. Pictures to produce the epic monster movie. “People now can go outside. They’re choosing what to do to entertain themselves and the power of going to movies has been established through this terrifically fun movie that has been released this past weekend,” he said. “Godzilla vs. Kong” opened last Wednesday and gathered mass audiences across the country, making it the best opening weekend for any movie released in the U.S. since the pandemic. The movie tallied $32.2 million at the box office from Friday to Sunday and now has made over $48.5 million in sales in the U.S. and Canada. It grossed $48.5 million domestically, where about 55% of movie theaters were open, and $285 million worldwide.Notably, these strong box office receipts came even as the film was also released for streaming on HBO Max for no additional fee for its subscribers. It was the most viewed movie on the platform since its launch, according to Deadline. Both Warner Bros. and HBO Max are units of AT&T. “I think a lot of the misconception may be that if you see it on HBO Max, you’re not gonna see in the theaters, and I don’t really think that’s a one-for-one trade off,” Grode said. Although he didn’t have specific numbers, Grode said the film was the largest sign-up event HBO Max has had since the service launched last May.He expects the trends can be repeated with other films in the future. “You have to find movies that are going to be buzzy, that are going to be made for the big screen experience” he said. “‘Godzilla vs Kong’ has two huge monsters going at it. This movie was designed to be fun. It’s designed to have people cheering for Team Kong or Team Godzilla.” More

In this articleGMDETROIT – Shares of General Motors confirmed plans Tuesday to produce an all-electric Chevrolet Silverado pickup at a new flagship assembly plant for EVs that’s under construction in Detroit.The truck is part of a previously announced $2.2 billion investment in the plant to produce an array of its next-generation EVs beginning later this year with an all-electric GMC Hummer pickup. Other planned vehicles for the facility include the recently unveiled Hummer EV SUV and an autonomous multipassenger shuttle known as the Cruise Origin.General Motors plans to produce an all-electric Chevrolet Silverado pickup at its new flagship assembly plant for EVs that’s under construction in Detroit. The automaker released this teaser image of the vehicle’s name with a “E” highlighted in blue.GMThe plant, which GM renamed Factory Zero last year in a nod to the zero-emissions EVs that will be produced there, is pivotal to the automaker’s electric vehicle plans. It is the first of four North American facilities that GM has said will transition from producing vehicles with internal combustion engines to EVs. It will be a proving ground and proof-point for the company’s promise that it can produce profitable electric vehicles.  “The vehicles coming from Factory Zero will change the world, and how the world views electric vehicles,” GM President Mark Reuss said in a statement. “The GMC Hummer EV SUV joins its stablemate in the realm of true supertrucks, and Chevrolet will take everything Chevy’s loyal truck buyers love about Silverado — and more — and put it into an electric pickup that will delight retail and commercial customers alike.”GM declined to provide when the Chevrolet pickup will go into production at Factory Zero, a plant spanning 4.5 million square feet on the outskirts of Detroit and bordering the city of Hamtramck. The Hummer EV pickup is expected to go on sale this fall, followed by the Hummer EV SUV in early 2023. Industry analysts expect the Chevy Silverado EV to go into production late next year. The new Chevy Silverado EV will have a range of more than 400 miles on a full charge, according to GM.The announced vehicles are part of GM’s plan to release 30 new EVs globally by 2025 under a $27 billion investment in electric and autonomous vehicles during that time frame. By then, the company plans to sell at least 1 million EVs annually – on its way to transitioning to being a fully electric automaker by 2035.General Motors unveiled the 2022 GMC Hummer EV sport utility truck, or SUT, online and during national television broadcasts on Oct. 20, 2020.GM More

SDI Productions | Getty Images2020 brought forward a crucial national conversation centered on the need for companies — from Main Street to Wall Street — to look inward at hiring practices, employment policies, recruitment and other aspects of the employment process to expand opportunities for diversity, equity and inclusion. It seems every company in the United States, from Google to Pepsi to the family-owned small business down your street, is exploring DEI strategies and tactics to attract new employees, retain existing employees and appeal to a wider customer base.You can’t log into LinkedIn or Indeed without viewing a new job post for an executive dedicated to internally championing DEI. You can’t scroll through Instagram or Facebook without coming across a new consumer-directed social media campaign like L’Oréal’s new partnership with the NAACP. And you can’t shop at your favorite store without noticing the latest social justice philanthropy initiative like Crate & Barrel’s new 15 Percent Pledge to ensure 15% of its products and collaborations are represented by Black businesses, artists and designers by 2024.However, as our country continues the necessary conversation around DEI, and organizations and companies further deploy creative strategies to address systemic problems, we are overlooking the most underemployed and unemployed segment of our entire U.S.-based population — people with disabilities.According to the Centers for Disease Control and Prevention, 61 million adults live with a disability in the U.S. — that is, 26%, or about 1 in 4 adults. In 2019, the Department of Labor reported that 7.3% of people with disabilities were unemployed — about twice as high as the rate for those without a disability.Where are the consumer-directed campaigns featuring people with visible (and invisible) disabilities?Where are the social justice campaigns to support products and businesses owned by people with disabilities?And, most importantly, why aren’t more companies employing people with disabilities?Despite Congress passing the Americans with Disabilities Act in 1990, and subsequent amendments in 2008, systemic problems continue to pose significant structural, economic, educational and regulatory barriers for employers and people with disabilities alike.The poverty rate for adults with disabilities (27%) is more than twice the rate of adults with no disability (12%). Some will say the reason for this is complicated. We disagree.People with disabilities are forced to live within a health-care and benefits system that was designed in the 1960s, when people with disabilities were institutionalized, often from birth. Even in 2021, for a person with a disability to qualify for benefits under entitlement programs, the only option for health care and services is their state Medicaid program (51 different bureaucratic programs that are complex and cumbersome for individuals, family members and caregivers).People with disabilities must also navigate a complex, limited employment sector that is rooted in outdated low expectations and stereotypes — limited options that look more like the 1980s than the 2020s.Many people with disabilities are living in poverty because their only government support (that is, Medicaid and Social Security) is not specifically designed to support their disability. Individuals are limited in terms of what they can earn (approximately $735 per month) and how much they can save at any given time ($2,000). These means-tested program qualifications are based on 1964 income measures.Fifty-seven years later, it’s time to address these outmoded systems and programs. It’s time to decouple the poor from the disability community and start to create incentives to move people with disabilities into jobs — and careers.Many people with disabilities can and want to work, and many can work effectively with minimal assistance. In many cases, applying for government support designed to help those on low incomes and living in poverty is the only way people with disabilities can survive because they lack the experience, opportunity, encouragement and support needed to move them into sustainable employment.Every organization, including government, can help redress this situation and help the largest, unemployed population of individuals living in the U.S. today:Create a co-designed national disability insurance program focused on self-direction by the individual and their family or caregivers.Lift the income and asset limitations for people with disabilities so they can work, live and fulfill their own career passions without the fear of loss of benefits.Employers can make their workplaces truly diverse, equitable and inclusive by modifying their recruitment strategies, widening their talent pool, offering an apprenticeship program that enables partnerships with special education programs and local disability organizations, and ensuring their goods and services — and the way they market them — speak to a broader audience.As we move into 2021 and begin the economic recovery from the coronavirus pandemic, it makes sense to think about ways to maximize workforce participation, and a strong focus on DEI is critical to positioning the economy for recovery and growth. And as we discuss what DEI success should look like in the U.S., it’s time for policymakers and employers to step up and do their part to tap into the most unemployed population in this country — people with disabilities.Sara Hart Weir is a leading nonprofit executive and expert on disability policy in the United States. Weir is the former president and CEO of the National Down Syndrome Society, co-founder of the CEO Commission for Disability Employment and most recently, the 2020 primary runner-up in Kansas’ Third U.S. Congressional district.Nicholas Wyman is a future work expert, author, speaker and president of the Institute for Workplace Skills and Innovation. He has been LinkedIn’s #1 Education Writer of the Year, too, and written an award-winning book, Job U, a practical guide to finding wealth and success by developing the skills companies actually need. Wyman has an MBA and has studied at Harvard Business School and the Kennedy School of Government and was awarded a Churchill Fellowship. More

In this articleMELIA general view of the stadium in the third inning during a game between the Colorado Rockies and the Los Angeles Dodgers at Coors Field on April 4, 2021 in Denver, Colorado.Justin Edmonds | Getty ImagesMajor League Baseball will hold its 2021 All-Star Game at Coors Field in Denver, the league said on Tuesday.MLB announced the venue change just days after pulling the game out of Atlanta due to a controversial voting law passed by state officials in Georgia. MLB opposed the law, which critics suggest is aimed at suppressing votes among people of color in underserved areas.MLB selected Denver because officials in the city had previously presented a plan to host the game at a future date. The last time Denver hosted baseball’s midsummer classic was in 1998. According to Baseball Almanac, that event generated over $40 million for the area.The game is scheduled for July 13.”Major League Baseball is grateful to the Rockies, the City of Denver and the State of Colorado for their support of this summer’s All-Star Game,” MLB commissioner Rob Manfred said in a statement. “We appreciate their flexibility and enthusiasm to deliver a first-class event for our game and the region. We look forward to celebrating our sport’s best players and entertaining fans around the world.”MLB has faced backlash from politicians for moving the game and also faced opposition from the Braves, which is owned by Liberty Media Corp. An official from Cobb Travel and Tourism in Georgia told CNN the state could suffer an economic loss of over $100 million due to the relocation.”The 8,000-plus MLB contracted hotel room nights that will not actualize as a result of the MLB All-Star Game relocation will have a negative impact on Cobb’s hospitality industry and other local businesses, further delaying recovery,” said Holly Quinlan, the CEO of the firm, according to the network.The 2019 All-Star contest was estimated to have generated more than $60 million for Cleveland, and the 2020 event, which was canceled due to the Covid pandemic, had been projected to bring in roughly $89 million for Los Angeles. Dodgers Stadium in Los Angeles will host the 2022 All-Star Game instead. More

SpaceX president and COO Gwynne Shotwell wants what SpaceX is doing to “reinvigorate the industry,” while also getting “young children thinking about being in the space industry again.”Kimberly White | Vanity Fair | Getty ImagesSpaceX president Gwynne Shotwell does not think the company will add “tiered pricing” for its direct-to-consumer Starlink satellite internet service, which is currently offered at $99 a month in limited early access.”I don’t think we’re going to do tiered pricing to consumers. We’re going to try to keep it as simple as possible and transparent as possible, so right now there are no plans to tier for consumers,” Shotwell said, speaking at the Satellite 2021 “LEO Digital Forum” on a virtual panel on Tuesday.In a tiered pricing system, what the customer pays is based on the level of service he or she chooses.Starlink is the company’s capital-intensive project to build an interconnected internet network with thousands of satellites, known in the space industry as a constellation, designed to deliver high-speed internet to consumers anywhere on the planet.A Starlink user terminal installed on the roof of a building in Canada.SpaceXThe company has launched more than 1,200 satellites to orbit so far.In October, SpaceX began rolling out early Starlink service in a public beta that now extends to customers in the U.S., Canada, the U.K., Germany and New Zealand – with service priced at $99 a month in the U.S., in addition to an upfront cost for the equipment needed to connect to the satellites.Elon Musk’s company has continued to expand Starlink’s service, with the public beta gaining more than 10,000 users in its first three months. Shotwell noted that SpaceX does not “have a timeframe for getting out of the beta phase,” saying that the company still has “a lot of work to do to make the network reliable.”Musk’s company plans to expand Starlink beyond homes, asking the Federal Communications Commission to widen its connectivity authorization to “moving vehicles,” so the service could be used with everything from aircraft to ships to large trucks.For now SpaceX is focused on serving customers in rural and hard-to-reach areas, with Shotwell saying that Starlink “will be able to serve every rural household in the United States,” or “roughly 60 million people.” While SpaceX is adding service to other countries, Shotwell said the company is focused initially on the U.S. “because they speak English and they’re close and, if they have a problem with their dish, we can get one shipped out quickly.””But we definitely want to expand this capability beyond the U.S. and Canada,” Shotwell added.SpaceX absorbing bulk of Starlink equipment costBoxes containing Starlink kits, with user terminals and Wi-Fi routers.StarlinkOne major obstacle for Starlink, as well as any satellite-based broadband service, is the cost of the user terminals: The equipment on the ground that connects customers to the network.Shotwell said SpaceX has “made great progress on reducing the cost” of the Starlink user terminal, which originally were about $3,000 each. She said the terminals now cost less than $1,500, and SpaceX “just rolled out a new version that saved about $200 off the cost.”That means SpaceX is absorbing about two-thirds of the cost of the terminals, as the company is charging beta customers $499 upfront for a user terminal. Musk said earlier this year that Starlink “needs to pass through a deep chasm of negative cash flow,” a significant portion of which is expected to be due to the cost of the user terminals.While SpaceX is not charging customers for the full price of the terminals so far, Shotwell said the company expects the cost to come down to “the few hundred dollar range within the next year or two.”Starlink ‘complementary’ to existing broadband service60 Starlink satellites deploy into orbit after the company’s 17th mission.SpaceXShotwell again emphasized previous comments by SpaceX leadership that Starlink is not looking to replace the service of “giant providers AT&T, Comcast, etc.,” as she noted its satellite internet is “very complimentary to the services that they provide.””The Starlink system is best suited to highly distributed rural or semi-rural populations,” Shotwell said.In the meantime, Shotwell said SpaceX’s challenge is learning how to scale for consumer customers while “making sure we can build a reliable network.” But, she added, none of these are challenges “which we can’t solve.” More