The bottom line
Jeff Bezos’ net worth of $157 billion is now enough to buy all of Amazon’s inventory ($14.8 billion in its latest financial statements). Then he could add that of Boeing ($61.3 billion), Walmart ($42 billion), and Apple ($6 billion), too.
Owning a car remains cheaper than using Uber or Lyft in 20 major cities surveyed by the travel group AAA. The average cost to own a car driven 10,500 miles annually is $7,321 per year, and $10,049 with parking. By contrast, you’ll pay $20,118 for ride-hailing services to cover the same distance plus a rental car for two road trips per year.
SUVs now account for 42 percent of the total U.S. car market, up from 30 percent in 2010, with sales of subcompact versions growing fastest. It costs car makers $1,000 more to produce a compact SUV than a sedan built on the same basic frame, but buyers are willing to pay $3,000 to $4,000 more for the SUV.
The Wall Street Journal
Corporate profits soared 16 percent last quarter compared with a year earlier. A major reason? Their taxes fell 33 percent because of new corporate rates; the annual corporate tax cut amounts to more than $100 billion.
The Wall Street Journal
In the first day after Nike announced a new television spot starring Colin Kaepernick, who initiated NFL players’ anthem protests, the company got news exposure equal to ads that would have cost more than $43 million. According to an Apex Marketing Group analysis, $19 million of that exposure was positive, $11 million negative, and $14 million neutral—overall, a very good deal for Nike.
This car is not child’s play
“Bugatti is known for assembling super-fast, mind-bogglingly expensive cars by hand,” said Sean O’Kane in TheVerge.com. Even if you’ve enough funds to cover the price, “they’re rare enough that you’d probably be better off building your own.” Lego is making that possible. The toy-brick company has assembled a life-size drivable Bugatti Chiron. Like its metal-made counterpart, Lego’s Chiron features “outrageous specs,” only they “happen to be outrageous in a much different way.” The engine is made of Lego and features 2,304 Power Function motors, 4,032 gear wheels, and 2,016 axles. There’s a working speedometer—the car can hit 18 mph—and a rear spoiler that pops out of the back, just like the one on the original car. Although Bugatti wheels and tires were needed, Lego pieces make up 90 percent of the vehicle. Crucially, Lego aficionados should note, “it was built without using any glue.”