Tuesday, April 23, 2024

Peering beneath Tesla's hood

Also: Express files bankruptcy ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Tue Apr 23 2024

 

Daniel de Visé Personal Finance Reporter

Good morning! It's Daniel de Visé with your Daily Money.

A recall from Tesla allows a rare look under the hood of the electric vehicle balance sheet, James Powel reports.

Nearly 4,000 Cybertrucks were recalled last week over a defect with the accelerator, causing it to get stuck when pressed, increasing the risk of crash. This covers all the trucks Tesla has sold since the vehicle reached market in November.

And how many is that? The company does not itemize the number of vehicles sold by model in its quarterly reports, meaning that the recall offers a rare glimpse into Elon Musk's pet project.

Express files for bankruptcy

Express Inc. has filed for Chapter 11 bankruptcy protection and will close nearly 100 retail stores, Emily DeLetter reports.

Express, the Columbus, Ohio-based brand and longtime mall retailer, is also the parent company of Bonobos and UpWest. In a press release, Express said it plans to close approximately 95 Express retail stores and all of its UpWest stores.

Will there be closing sales? What about pending orders?

📰 More stories you shouldn't miss 📰

The best, worst ages to take Social Security
How to make your resume stand out
Here's a $413,000 retirement expense to prepare for
What does the average household spend on groceries?

📰 A great read 📰

Finally, here's a popular story from earlier this year that you may have missed. Read it! Share it!

No one would have guessed that in retirement, Judi and David Koncak would be nearly out of money and unable to leave their kids much more than a pittance. They're both college graduates. They traveled, owned cars and a home, sent their two kids to college and saved for retirement.

But David Koncak had a stroke, surgeries, and prostate cancer – all of which helped deplete their savings.

Their story illustrates a broader trend: the significant wealth transfer from baby boomers to younger generations that researchers have predicted may not be so great after all.

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Daniel de Visé covers personal finance for USA Today.

Cybertrucks are lined up at Tesla Giga Texas on Tuesday April 2, 2024.

The Cybertruck recall offered analysts an opportunity to see how Elon Musk's pet project is faring in the electric truck market. See how it stacks up.

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The exterior of an Express Store located in the Easton Town Center in Columbus, Ohio on June 25, 2015. (Columbus Dispatch photo by Brooke LaValley)
 

Express files for Chapter 11 bankruptcy, closing nearly 100 stores

Express, the parent company of Bonobos and UpWest, announced plans to close approximately 95 Express retail stores and all of its UpWest stores.

Doctor examining patient.
 

Have you considered this $413,000 retirement expense?

You could face huge healthcare expenses as a retiree that could drain your savings.

 

Here's how to make your resume stand out and land that job

A fresh, modern design can help your resume stand out and leave a positive impression on recruiters and hiring managers.

Social Security full retirement age chart.
 

These are the best and worst ages to take Social Security benefits

Here's what the research says about when to take Social Security.

Judi and David Koncak may have little to leave their family due to high health care costs
 

The 'great wealth transfer' may not be so great. Here's why.

The 'great wealth transfer' may not happen the way Gen Z, millennials hope. Boomers face medical costs that may erode inheritances they hope to give.

In this photo illustration, the logos of social media applications Instagram, Facebook, LinkedIn, Messenger, Hyperlapse and Telegram are displayed on a cellphone screen on April 26, 2023 in Rio de Janeiro, Brazil. Brazilian justice has temporarily suspend the messaging app Telegram in the middle of an investigation related to neonazi activities on the network. According to the Brazilian authorities, the company has failed to provide data and information on the groups   that spread messages of hatred and violence through the platform.
 

How many times a day do you check your phone? A lot, study suggests

In 2023, research showed that Americans checked their phones 144 times a day. Tech columnist Kim Komando shares ways to detach from your device.

The Hana Highway is one of Maui's best known sights and is open to visitors.
 

Is it time to go back to Maui?

Much of the island feels pretty normal, but that's not to say locals weren't profoundly affected by the fires.

Middle school English teacher Kareem Wall, 31, said he worked hard to decorate his classroom for his students at the Paseo Academy of Fine and Performing Arts.
 

If you want to live near a top public school, it's gonna cost you

Parents often look to buy homes in the best public school district to save on tuition. But those houses may come at a hefty premium, a study shows.

10. Passive vs. active management     If you like to be more involved in managing your portfolio and pick individual holdings to aim for higher returns, a passive management strategy may not be the best option for you. Passive investment is for those who want to smooth out the market upheavals with diversification, reaping steady, but not outsized, gains. Before embarking on either approach, ask yourself how much   risk you are willing to take. If you don't mind shouldering more risk, try your hand at active management. Risk-averse investors would be better served by passive management.     ALSO READ: 5 Tips to Choose the Best Wealth Management Firm for You
 

How to tweak your 401(k) with inflation picking up, rate cuts delayed

Financial experts say now may be a good time to consider tweaking your 401(k) as the Fed and other central banks weigh when to lower interest rates.

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