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We've seen headlines for weeks about Hertz selling off its fleet after filing for Chapter 11 bankruptcy. In reality, it isn't just Hertz and it didn't just start.“You should not expect, or the market should not expect, all of a sudden this influx of rental supply to hit the market because rental companies have been right sizing their fleets since at least mid-March,” said Larry Dixon, Senior Director of Valuation Services at J.D. Power.As COVID-19 forces car rentals and auctions to shut down, the rental companies started selling more to dealers who weren't able to replenish their used car supply. Now that auctions have opened, demand is up and so are auction prices.So far for retail, what we pay is stable. At the same time, new car sales are down. So, there are fewer trade-ins. That means better deals.“Dealers are going to be more likely to be more aggressive with a trade-in offer to a consumer, particularly for highly desirable late model vehicles, think that 2 to 5-year-old used vehicle,” said Dixon.As far as rental cars being a good buy, they are well-maintained and kept clean. The negatives are they have higher miles. But that can also be a positive in the price.A dealer doesn't have to disclose if a car was a rental. You can find out on your own with a vehicle history report. 1309

What does it look like when galaxies collide? The Hubble Telescope captured a unique sight as two galaxies are in the process of merging.NASA says the galaxy, called NGC 1614, is about 200 million light-years from Earth and is the result of a “galactic merger” which has created a unique appearance. They call it “eccentrically shaped” and “ablaze with activity” in a statement on NASA’s website. It sits in the constellation of Eridanus.The result of the cosmic collision is a flow of interstellar gas from the smaller galaxy into the nucleus of the larger one, “resulting in a burst of star formation that started in the core and has slowly spread outward through the galaxy,” NASA says.Astronomers say NGC 1614 is one of the most luminous objects in the local universe. 780

WILMINGTON, Del. (AP) — President-elect Joe Biden will have an all-female communications team at his White House, led by campaign communications director Kate Bedingfield. President-elect Biden and Vice President-elect Harris today announced new members of the White House staff who will serve in senior communications roles.For the first time in history, these communications roles will be filled entirely by women.https://t.co/SjWAWJg941— Biden-Harris Presidential Transition (@Transition46) November 29, 2020 Bedingfield will serve as Biden’s White House communications director, and Jen Psaki, a longtime Democratic spokeswoman, will be his press secretary.Bedingfield served as Deputy Campaign Manager and Communications Director for the Biden-Harris Campaign. She also served as Communications Director for Vice President Biden and as Associate Communications Director, Deputy Director of Media Affairs, and the Director of Response in the Obama-Biden White House.Psaki currently oversees the confirmations team for the Biden-Harris Transition. During the Obama-Biden administration, Psaki held several senior roles, including White House Communications Director, State Department Spokesperson under then-Secretary of State John Kerry, Deputy White House Communications Director and Deputy White House Press Secretary during the financial crisis.Two other women, Karine Jean-Pierre and Pili Tobar, will also be part of the communications team.Jean-Pierre was Senior Advisor to President-Elect Joe Biden and Chief of Staff to Vice President-Elect Kamala Harris on the Biden-Harris Campaign. As for Tobar, she served as the Communications Director for Coalitions on the Biden-Harris Campaign.“Communicating directly and truthfully to the American people is one of the most important duties of a President, and this team will be entrusted with the tremendous responsibility of connecting the American people to the White House. I am proud to announce today the first senior White House communications team comprised entirely of women. These qualified, experienced communicators bring diverse perspectives to their work and a shared commitment to building this country back better,” said President-elect Joe Biden in a press release.“Our country is facing unprecedented challenges–from the coronavirus pandemic to the economic crisis, to the climate crisis, and a long-overdue reckoning over racial injustice," added Vice President-elect Kamala Harris. "To overcome these challenges, we need to communicate clearly, honestly, and transparently with the American people, and this experienced, talented, and barrier-shattering team will help us do that. These communications professionals express our commitment to building a White House that reflects the very best of our nation.”Meanwhile, The Associated Press has learned that Biden also plans to name the president and CEO of the Center for American Progress, Neera Tanden, as director of the Office of Management and Budget. 2987

What goes well with a hot pepperoni pizza? Pizza Hut is banking on its customers to say, "Cold beer."Pizza Hut announced on Wednesday that beer delivery will be available at 100 of its Arizona and California locations. The company said beer delivery is part of a nationwide pilot program. The beer will be stored in special coolers to keep it cold during delivery. Coors Light, Blue Moon and Miller High Life will be among the offerings. Customers who order a six-pack in some Arizona markets will have their delivery fee waived. "Nothing complements an oven-hot pizza like an ice-cold beer," said Zipporah Allen, CMO, Pizza Hut. "In addition to our extensive delivery network, many Pizza Hut restaurants are already licensed to serve and distribute beer, without third party services, additional fees, or extended wait times. Expanding the pilot program is a natural way for Pizza Hut to get our customers the perfect pizza and beer combo they're craving, delivered right to their doors."  Pizza Hut said it currently offers beer delivery at participating restaurants in Phoenix, Tucson, Glendale, Prescott, and Winslow in Arizona, along with participating restaurants in Los Angeles, Bakersfield, Riverside, Sacramento, Santa Barbara and Santa Clara in California. Pizza Hut will roll out beer delivery soon to additional locations, including Anaheim, Fresno, Huntington Beach and Redding later this month. 1456

When experts look at the economy and its rebound, they go through an alphabet soup of letters, with a “V” shape recovery being the best-case scenario. It’s a fast decline with a fast recovery. Letters like “W” or “L” mean a much slower and painful path forward.A resurgence of more COVID-19 cases is shifting the likely shape of our economic recovery, and having economists evaluate the likelihood of a recovery in the shape of the more dreaded letters.“The fact that the virus has increased in a number of states shows that it is still very much a threat not only to one’s health but the economy,” said Michelle Meyer, who heads U.S. Economics at Bank of America. “The initial stage of the recovery was quite robust. It felt quite ‘V’ like, the economy was digging its way out of what was a very deep hole.”According to Bank of America, about a third of the jobs lost during the pandemic have been recovered. However, the recovery has slowed down into more of a “U” shape, and now data is showing a stall with concern of a higher chance of a “W” or “L” shape recovery.“The ‘W’ trajectory would be the worst-case scenario. That would show real fragility on the economy if we dipped back into a recession,” added Meyer.Experts say it would lead even higher unemployment, and more permanent job loss and business closures. In addition, to come out of a “W” or “L” shape recovery, we would need even more stimulus money from the federal government, which may not even improve the economic downturn as much as it did the first time.“Stimulus in Washington provides a really nice band-aid and I think it helped tremendously in the first stage of this recovery but at the end of the day, we need the economy to fundamentally improve,” said Meyer.The good news is unless there is a significant or full shutdown again, a “W” shape recovery is still less likely to occur than a “U” shape.“Our analysis projects that a 'U' shape recovery with rather steep losses and growth this year and rather flat next year and then recovering subsequently is the most likely outcome,” said David Turkington, the Senior Vice President at State Street Associates.A recent State Street study based on 100 years of historical data shows that the U.S. still has 30.1% chance of a “U” recovery, and a combined 24.4% chance of a “W” or “L” shape recovery which include stagflation and depression outcomes.“The real economy I think is what determines the recovery and how that plays forward,” said Turkington.The real economy is jobs, businesses and consumer spending. Providing stability there could determine which way the economy goes. 2615