2/04/2022

Why the heck is there still an automotive chip shortage?

 Aside from the raw, human toll, COVID-19 has dramatically changed how we live, from travel and education to the way people work. This pandemic has also had an outsized -- and unfortunate -- impact on the automotive industry, snarling global supply chains and limiting vehicle production. But perhaps nothing has hamstrung car companies more than the ongoing semiconductor shortage, which is still a major issue two years after coronavirus went global.

For several important reasons, "The chip shortage is still very much a problem," said Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions. "This is not a quickly solvable issue," he added.

Automakers large and small are still being affected by an acute lack of semiconductors, which are absolutely necessary, even in the most basic cars and trucks. Everything from advanced driver-assistance features to infotainment systems to heated steering wheels are powered by some sort of computer chip, and that's only going to accelerate in future.

Toyota continues to face shortages that will affect manufacturing. "Our teams are working diligently to minimize the impact on production … in North America we are projecting a reduction of approximately 25,000 to 30,000 vehicles in February," the automaker told Roadshow. The good news is, Toyota does not anticipate these shortfalls will impact employment.

GM has similar challenges. Late last year, the company confirmed it wasn't able to offer certain features on a range of models due to a lack of chips, though things are getting better. "Fortunately, at the moment we do not have any North American assembly plants that are on downtime due to the global shortage of semiconductors," a spokesperson for the Detroit-based automaker told Roadshow. Second shifts have just resumed at its assembly plants in Fairfax, Kansas, home of the Chevy Malibu and Cadillac XT4, and Ramos Arizpe, Mexico, where the Chevy Blazer and Equinox SUVs are built.


Craig Cole





https://www.cnet.com/roadshow/news/features/why-automotive-chip-shortage/

3/13/2020

Stocks plunge into bear market territory: March 12, 2020 By CNN Business Updated 6:55 p.m. ET, March 12, 2020

What we covered here

Lamborghini closes factories and headquarters as virus hits northern Italy From CNN Business' Peter Valdes-Dapena


https://edition.cnn.com/business/live-news/stock-market-news-today-031220/index.html

Italy locked down

The entire country of Italy has shut down as it attempts to slow the coronavirus outbreak and stem a rising death toll.
The Italian government announced new restrictions Wednesday, closing all nonessential shops and services aside from supermarkets and pharmacies. With 12,462 cases and 827 deaths, Italy is the worst-hit nation outside China, according to data compiled by Johns Hopkins University. The lockdown bans public gatherings and restricts travel only for urgent work situations, emergencies and health reasons.


COVID-19: Insights on travel Impact

With more than 118,000 infected as of March 10th, COVID-19 is having and will continue to have a significant impact on many industries. The travel industry is no exception, and in fact, maybe the hardest hit.

https://insights.ehotelier.com/insights/2020/03/13/covid-19-insights-on-travel-impact/

Australia vs Facebook

The API also allowed the app to request from Facebook the personal information of approximately 86,300,000 Facebook users globally, of which approximately 311,074 were Australians who were friends with the app's users.
Australia was the 10th hardest hit, globally, while topping the list, there were over 70 million Americans caught up in the breach.
Falk considers that these were systemic failures to comply with Australian privacy laws by one of the world's largest technology companies. The Federal Court can impose a civil penalty of up to AU$1.7 million for each serious and/or repeated interference with privacy.

3/12/2020

Dow drops 1,400 points and tumbles into a bear market, down 20% from last month's record close - CNBC



This is a developing news story. Please check back for updates:


https://www.cnbc.com/2020/03/10/dow-futures-point-to-a-loss-of-more-than-400-points-after-tuesdays-surge.html

The Dow Jones - CNBC

The Dow Jones Industrial Average crossed the bear market milestone on Wednesday, down more than 20% from its recent high, marking the end of one of the longest bull markets in history.

David Kostin, Goldman Sachs' top U.S. equity strategist, warned Wednesday morning that stocks may have another 15% to fall.

“Both the real economy and the financial economy are exhibiting acute signs of stress,” he wrote hours before the Dow plunged to bear levels. 

Rocket attack in Iraq kills two U.S. troops, potentially raising tensions with Iran - The Washington Post

The attack also killed one non-American member of the coalition force at Camp Taji, about 17 miles north of Baghdad. At least five other people have been evacuated in serious condition, a U.S. military spokesman said.
The weapons used were 107 mm Katyusha rockets, which U.S. officials have considered to be a hallmark sign of Iranian-backed militias in Iraq.

BREAKING: NBA suspends all games after Utah Jazz player tests positive for coronavirus

The NBA suspended all games Wednesday night after a player on the Utah Jazz "preliminarily" tested positive for coronavirus, the league said in a statement.
The test result was discovered just prior to the start of a game between the Jazz and the Oklahoma City Thunder, the statement said. The league said it would use the break in games to determine next steps.

Trump Suspends All Travel From Europe For 30 Days To Combat COVID-19

The moves announced Wednesday came as the White House and Congress worked on economic proposals to contain the fallout from the coronavirus pandemic.

BREAKING: Tom Hanks says he and his wife, Rita Wilson, tested positive for the coronavirus

Oscar-winning actor Tom Hanks said Wednesday night that he and his wife, actress Rita Wilson, tested positive for the coronavirus while in Australia, where he is reportedly shooting a movie.

3/07/2020

BREAKING: Five new coronavirus cases are reported in Massachusetts

The Massachusetts Department of Public Health added five new cases of COVID-19, the illness caused by the novel coronavirus, to its tally of positive test results.
The additional cases bring the total in Massachusetts to 13. That includes one case that was confirmed by the Centers for Disease Control and Prevention and 12 others that have been confirmed by the state lab and are awaiting further confirmation by the CDC.
Read the full story at BostonGlobe.com

https://www.bostonglobe.com/2020/03/07/nation/five-new-cases-coronavirus-reported-bringing-mass-total-12/?s_campaign=breakingnews:newsletter

New York declares state of emergency over coronavirus outbreak

  • Gov. Andrew Cuomo declared a state of emergency on Saturday after the number of confirmed coronavirus cases in New York increased to 76. 
  • An emergency declaration will allow the state to buy supplies and hire workers more quickly and easily to help the health departments monitoring patients under self-quarantine, Cuomo said during a Saturday press conference at the state Capitol. 
  • Eleven of the cases are in New York City and 57 are in Westchester County. There are also signals of an ongoing spread, including a pair of cases in both Saratoga County and Rockland County, as well as four in Nassau County, according to the governor. 
  • https://www.cnbc.com/2020/03/07/new-york-governor-andrew-cuomo-declares-state-of-emergency-over-coronavirus-outbreak.html?__source=newsletter%7Cbreakingnews

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Why the heck is there still an automotive chip shortage?

 A side from the raw, human toll,   COVID-19   has dramatically changed how we live, from travel and education to the way people work. This ...