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Tesla CEO Elon Musk has made bold claims about the company's upcoming electric pickup. Now Ford, maker of America's most popular pickup truck, is already pushing back with a demonstration of what its planned electric F-150 could be capable of doing.Ford released video of a prototype electric F-150 towing a line of freight train cars weighing, according to Ford, over 1 million pounds. The truck, driven by F-150 chief engineer Linda Zhang, pulled the train for 1,000 feet.After that was done, Ford added train cars carrying 42 F-150 pickups -- one for every year that the Ford F-series has been the bestselling truck in America -- and Zhang pulled the train again. With the trucks, the train weight rose to 1.25 million pounds, according to Ford.Ford pointed out that this was a "one-time short event demonstration," in which the prototype was "towing far beyond any production truck's published capacity." Ford has not yet announced how much the production version of the truck will be capable of towing over long distances during day-to-day use.Ford did not say what sort of battery power, electric motors or gear ratios the prototype truck was using.In a podcast interview in June, 1198

The General Motors strike has caused a major disruption in the supply of auto parts to mechanics. Hannah Pelletier of Davis Auto Repair got the last brake module in her town to fix Chevy Suburban. “With the strike, we’re seeing parts take a week to two weeks,” said Pelletier.Pelletier said the typical wait is one to two days. “We normally get daily shipments and right now the shipments ha been sporadic,” said David Hunn, the service manager at Ed Bozarth Chevrolet in Aurora, Colorado. It’s not just the independent repair shops either. GM dealerships like Ed Bozarth's also in Aurora doesn’t know when their deliveries are coming. "Right now I’ve got three vehicles that are tied up waiting on parts,” Bozarth said.Hunn said one of his customers has been waiting three weeks to get their car fixed. There’s nothing he can do right now. He can’t fix it without the right pieces. In a statement, GM said dealers have a limited supply of parts, but that they're supplementing with inventory from wholesale dealers and other suppliers. The company says its ability to ship from distribution centers is limited. “Being an independent shop, our employees are very important to us. So if they felt they weren’t being taken care of we would want to do what we can because they’re what builds my business,” said Pelletier. Pelletier said she understands why the workers went on strike. But that doesn’t change the fact that she still needs parts to fix cars. “I would say if we had it for another month, that’s when we’re really going to start feeling it,” said Pelletier And dealerships like Ed Bozarth have been well stocked. “We do have a really good inventory plus we have two dealerships in town that we, we trade parts back and forth with,” said Hunn. But both David and the workers in his shop admitted that the lack of deliveries is putting a strain on them to get things done on time. 1905

The average 401(k) balance rose 17% last year to 2,300 from the end of 2018, according to a review of 17.3 million accounts by Fidelity Investments. The average individual retirement account, or IRA, balance rose the same percentage to 5,400.Surging markets around the world were a big reason for the growth: The S&P 500 index had one of its best years in decades with a 31.5% return. Investments of all types logged gains, from junk bonds to stocks from developing economies.But workers’ better savings habits also played a big role.Fidelity said the average worker set aside 8.9% of their pay in their 401(k) in the fourth quarter, a record. Combined with employer matches, the average total savings rate was 13.5% in the quarter, tying its record last reached in the spring of 2019.“Nobody can control the market, so the behaviors of people contributing to their 401(k)s are what get us the most excited,” said Katie Taylor, vice president of thought leadership at Fidelity. “We have people saving 13.5%, which is really close to the 15% that we recommend. That’s a great story.”In many cases, workers may not even realize they’re saving more. Most employers give the option for workers to automatically increase their contributions each year, without having to do anything. Some employers even automatically sign up their employees for these auto-escalation programs, requiring them to opt out if they don’t want their contribution levels to steadily rise.Such features are on top of programs where employers automatically enroll new hires in the 401(k) plan. They all lean on the power of inertia to help workers build up bigger nest eggs. It’s a sharp turnaround from earlier years when workers had to take an extra step to join the 401(k) plan and fill out paperwork whenever they wanted their contribution levels to change.“There’s always a way, if you don’t want to do it, where you can unenroll, but these automatic programs have been a game changer,” Taylor said.Consistent contributions — and giving them time to grow — are keys to building bigger portfolios. Among workers who have been in their 401(k) plan for 10 straight years, the average balance rose to a record 8,200, according to Fidelity.Such figures, though, count only people who have a 401(k). Many lower-income workers, particularly at smaller employers, could not save in a 401(k) even if they wanted to because their companies don’t offer access to one. Legislation passed late last year aims to make it easier for smaller employers to band together and offer plans.Nearly half of all U.S. households aged 55 and over, 48%, had no retirement savings at all as of 2016, according to estimates from the Government Accountability Office. 2737

The Justice Department's inspector general is opening an investigation into the circumstances surrounding the death of multimillionaire financier and accused sex trafficker Jeffrey Epstein, Attorney General William Barr announced on Saturday.The Federal Bureau of Prisons confirmed Epstein's death, saying he was found unresponsive in his cell on Saturday at New York's Metropolitan Correctional Center around 6:30 a.m. ET. The bureau's release called it "an apparent suicide," and said the FBI is investigating. Two law enforcement sources told CNN that Epstein died by suicide.Barr said he was "appalled" to learn of Epstein's death while in federal custody awaiting trial."I was appalled to learn that Jeffrey Epstein was found dead early this morning from an apparent suicide while in federal custody. Mr. Epstein's death raises serious questions that must be answered," Barr said in a statement. "In addition to the FBI's investigation, I have consulted with the Inspector General who is opening an investigation into the circumstances of Mr. Epstein's death."Epstein had been jailed since early July, when he pleaded not guilty to charges by New York federal prosecutors after an indictment accused him of sex trafficking dozens of underage girls, some as young as 14 years old.The Southern District of New York's investigation into Epstein's alleged conduct is ongoing after his death, according to Geoffrey Berman, the US attorney overseeing that office."Today's events are disturbing, and we are deeply aware of their potential to present yet another hurdle to giving Epstein's many victims their day in Court," Berman said in a statement. "To those brave young women who have already come forward and to the many others who have yet to do so, let me reiterate that we remain committed to standing for you, and our investigation of the conduct charged in the Indictment -- which included a conspiracy count -- remains ongoing," Berman said.No foul play is suspected in Epstein's death, a federal official told CNN. Authorities believe Epstein hanged himself, a law enforcement source told CNN.After Epstein was placed on suicide watch when he was found with marks on his neck on July 23, daily psychological assessments were conducted on him, according to a source familiar with the matter. But at the end the month, psychologists with the Bureau of Prisons took him off suicide watch and cleared him to return to his cell in the Special Housing Unit, the source said.Barr is livid at the events surrounding the apparent suicide of Epstein and is determined to get to the bottom of what happened, according to a source familiar with the situation.Former deputy attorney general Rod Rosenstein, who left the Justice Department in May, said in a 2765

The brothers who allegedly took part in what police say was a staged attack on actor Jussie Smollett are expressing "tremendous regret" for their involvement."They understand how it has impacted people across the nation, particularly minority communities and especially those who have been victims of hate crimes themselves," said Gloria Schmidt, an attorney for the brothers Olabinjo and Abimbola Osundairo.Smollett reported in 441

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