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Ford could resume production on its F-150 trucks as soon as next week.The company told employees that they should expect to return to work at its plants in Dearborn, Michigan and outside of Kansas City, Missouri on May 18, a Ford spokesperson said on Friday. The company suspended production at the two plants — the only ones that make the truck — after a fire at a supplier's facility caused it to run out of parts.The F-150 has been the top selling US vehicle by any manufacturer for more than 40 years. It's a key profit generator for Ford.The automaker halted production at the Dearborn location on Wednesday, after temporarily closing the location in Missouri."This is a fluid situation," Joe Hinrichs, president of global operations at Ford said in a statement on Wednesday. He added that "any impacts will be short term." 836
Fewer people are choosing to live in senior housing amid the pandemic. Occupancy has gone down more than 2.5% for two quarters in a row.A trade group for housing providers looked at numbers from April through September of this year and found the senior housing sector is experiencing the largest drop in occupancy on record.“We have heard from people who, you know, their first priority is to get older parents out of more hazardous locations, such as nursing homes, and when they are looking for options in terms of where to move them, part of the option of course is to bring them into their home,” said Danielle Arigoni, Director of AARP Livable Communities.Arigoni says the financial benefits of living in a multi-generational home are getting some people to think about it during the pandemic. But others are avoiding it because of concerns about COVID-19 exposure risks for older family members.Arigoni says there is a renewed interest in accessory dwelling units. That's something UMH Properties is working on now with its "care cottages." The service will let people lease a prefabricated 1 bedroom 1 bath temporary home that you put on your property.“We believe we can get it approved because it's going to be temporary. It's going to be ADA compliant. And with those things in mind, the zoning department of a town should approve bringing the manufactured home onto somebody's lot where it's zoned as a single-family residential lot,” said Sam Landy, CEO of UMH Properties.Landy says COVID-19 sparked the idea for the “care cottages,” but he expects there to be interest in them beyond the pandemic.The company has received dozens of people asking about the care cottages since it started marketing them in September.If you have older family members moving into your home instead, AARP recommends having certain parameters around chores and expectations. Privacy can be a concern for an older adult who has lived alone for a long time. You also need to prepare your home for things like trip hazards. 2018
Forestry officials in Virginia are warning people to stay socially distant from a venomous caterpillar that looks a little like a toupee.In a social media post, the Virginia Department of Forestry shared a photo of a puss caterpillar taken recently in the eastern part of the state. They say there have been multiple reports of sightings of the hairy-looking caterpillars. 380
Forget about drones and armies of people driving Amazon trucks. One big Wall Street firm thinks Amazon's plan to build up its air freight delivery service may be what really winds up hurting UPS and FedEx.Morgan Stanley analyst Ravi Shanker said in a report Tuesday that both delivery giants could lose 10% of their revenue to Amazon Air by 2025. Shanker cut his price targets on UPS (UPS) and FedEx (FDX) and both stocks plunged more than 6% as a result.It was a particularly gruesome day for transportation stocks due to worries about the broader economy and confusion about the status of US-China trade talks.The Dow Jones Transportation Average, which includes FedEx and UPS as well as leading airlines, truckers and railroads, fell 4.4% -- its worst drop since June 2016.But Shanker paints a picture that should be extremely worrisome to UPS and FedEx.He notes that Amazon (AMZN), which currently is leasing 40 cargo jets, could eventually have 100 planes running and estimates that the planned Amazon Air routes could overlap with more than two-thirds of the volume flown by UPS and FedEx.That's bad news for both companies since Shanker said that UPS and FedEx each generate nearly 20% of their overall revenue from US air deliveries.Amazon has made big investments to bulk up Amazon Air. In the past few years, it has bought stakes in two freight delivery airlines -- Air Transport Services Group (ATSG) and Atlas Air Worldwide Holdings (AAWW).It also announced plans to invest .5 billion in order to build an Amazon Air hub on more than 900 acres of land that it is leasing near the Cincinnati/Northern Kentucky International Airport. Amazon bought an additional 210 acres earlier this year.There's a simple reason why Amazon will want to handle more of its own air deliveries. According to Shanker, Amazon could save between billion and billion next year. That works out to about 3% to 6% of its global shipping costs.But on a day when the broader market was tanking, investors didn't seem too enthusiastic about Shanker's thoughts on Amazon either. Shares of Amazon fell nearly 6%. 2113
Former Presidents Barack Obama and Bill Clinton offered their well wishes on Friday as President Donald Trump was admitted into a DC-area hospital with the coronavirus.Meanwhile first lady Melania Trump was battling mild symptoms from the coronavirus.President Barack Obama tweeted, “Michelle and I hope that the President, First Lady, and all those affected by the coronavirus around the country are getting the care they need and are on the path to a speedy recovery. Obviously, we’re in the midst of a big political battle right now, and while there’s a lot at stake, let’s remember that we’re all Americans. We’re all human beings. And we want everyone to be healthy, no matter our party.”President Bill Clinton tweeted, “We wish the President and First Lady a speedy recovery, and hope for the safety of the White House staff, the Secret Service, and others putting their lives on the line. This pandemic has affected so many. We must continue to protect ourselves, our families, and communities.” 1010