GM - General Motors Company
| Previous Close | 36.78 |
| Open | 37.15 |
| Bid | 36.74 x 800 |
| Ask | 36.75 x 2200 |
| Day's Range | 36.58 - 37.28 |
| 52 Week Range | 30.56 - 41.84 |
| Volume | 1,504,783 |
| Avg. Volume | 8,542,392 |
| Market Cap | 52.055B |
| Beta (3Y Monthly) | 1.14 |
| PE Ratio (TTM) | 5.84 |
| EPS (TTM) | 6.29 |
| Earnings Date | Aug 1, 2019 |
| Forward Dividend & Yield | 1.52 (4.13%) |
| Ex-Dividend Date | 2019-06-06 |
| 1y Target Est | 47.11 |
- Yahoo Finance Video•11 minutes ago
Companies to Watch: Tesla’s price target slashed, Waymo’s new deal, GM’s plea to regulators
Tesla, Waymo, General Motors and Netflix are the companies to watch.
- Autoblog•21 hours ago
2020 Cadillac CT4 spied completely undisguised for the first time
A few weeks ago, Cadillac gave us our first look at its new small luxury sports sedan in the form of the CT4-V. Based on what we know about other recent Cadillacs and their trim and design, this CT4 is probably a Luxury or Premium Luxury trim, since it has plenty of bright chrome and red taillights instead of dark gray ones. The mesh grilles of the V are swapped for a main grille studded with small Cadillac badge shapes and the lower grille has simple slats.
- Market Realist•10 minutes ago
Tesla Slips as Goldman Sachs Cuts Target by 21%: GM and Ford Rise
This morning before the market opened, Tesla (TSLA) was trading on a negative note despite a sharp rise in index futures. As of 9:10 AM ET, Tesla stock had fallen 1.2% in the pre-market session to $234.74 after Goldman Sachs cut the target price on the company by about 21%.
- Reuters•2 hours ago
RPT-UPDATE 3-UAW opposes Trump plan to freeze fuel rules at 2020 levels -testimony
The United Auto Workers (UAW) will tell Congress on Thursday the union opposes the Trump administration's proposal to freeze fuel efficiency requirements at 2020 levels through 2026, according to written testimony.
- Motley Fool•15 hours ago
Like Its Stock Price, Ford Motor Company's Quality Is Up in 2019
The Blue Oval just beat most of its rivals in a key measure of build quality.
- MarketWatch•17 hours ago
GM asks feds for exemption to avoid yet another Takata air bag recall
General Motors is trying to avoid recalling potentially deadly Takata air bag inflators in thousands of full-size pickup trucks and SUVs for the fourth straight year, leaving owners to wonder if vehicles are safe to drive.
- Barrons.com•19 hours ago
Yes, CEOs Do Matter. Here’s Why.
This week on the Readback, Alex Eule is joined by Jack Hough to talk about Barron’s latest list of best CEOs and how to define great leadership.
- Reuters•20 hours ago
Canada opens probe into 250,000 GM pickups, SUVs over brake performance
The U.S. National Highway Traffic Safety Administration (NHTSA) in November into 2.73 million U.S. 2014-2016 model year SUVs and pickups after receiving 487 reports of hard brake pedal effort accompanied by extended stopping distance that were attributed to deterioration of the engine-driven brake assist vacuum pump.
- Business Wire•20 hours ago
Kessler Topaz Meltzer & Check, LLP Announces the Filing of a Consumer Class Action Lawsuit Against General Motors, LLC for Defective Transmissions
The law firm of Kessler Topaz Meltzer & Check, LLP announces that it has filed a class action lawsuit against General Motors, LLC in the United States District Court for the Eastern District of Michigan.
- PR Newswire•yesterday
GM Issues Reminder Regarding Warrant Expiration
The NYSE has notified GM that it will suspend trading in the warrants after the close of trading on July 5, 2019, so that all trades can be settled by July 10, 2019. Warrant holders can obtain further information on exercising the warrants by contacting their broker or GM's warrant agent, U.S. Bank National Association, by telephone at 1-800-934-6802 or by email at cts.conversions@usbank.com. Brokers are encouraged to contact U.S. Bank National Association or The Depository Trust & Clearing Corporation in advance of the expiration date to confirm the procedures for exercising warrants and for instructions on payments of exercise prices.
- Bloomberg•yesterday
Walmart’s Kickstarting a $1 Trillion Driverless Delivery Market
(Bloomberg) -- Walmart Inc. came to dominate retailing through its mastery of logistics—the complicated choreography of getting goods from farm or factory to the consumer. But even the world’s biggest store doesn’t make money selling its wares online in the U.S., largely due to runaway shipping costs. So Walmart is turning to robots.On a drizzly morning earlier this month, Walmart’s U.S. chief Greg Foran led reporters to a curbside package pickup kiosk outside its supercenter in Rogers, Arkansas. Idling there were three Ford delivery vans outfitted with self-driving technology developed by a Gatik, a Silicon Valley startup charged with a trial run aimed at cutting Walmart’s middle-mile shipping costs in half. Going driverless in pursuit of profit is a “no-brainer,” Foran said.As the buzz about human-carting robo-taxis starts to short-circuit, an unheralded segment of the driverless future is taking shape and showing promise: goods-moving robo-vans. Rather than serving up hot pizza pies or deploying headless robots to carry groceries to the doorstep, robo-vans travel on fixed routes from warehouse to warehouse or to a smaller pickup point, transporting packages to get them closer, but not all the way, to consumers.This may be the least glamorous part of the driverless delivery business, but the market for these monotonous “middle miles” could reach $1 trillion and may provide the fastest path to prosperity, analysts say.“This area has the least number of obstacles and the most certain return on invested capital in the near term,” said Mike Ramsey, an analyst with consultant Gartner Inc. “If you’re looking to start a business where you can actually generate revenue, this has fewer barriers than the taxi market.”Driving the demand is the boom in online shopping that has helped cause a severe shortage of truck drivers that tops 60,000 unfilled long-haul positions, according the American Trucking Associations. That has sent costs soaring for a job that is among the most dangerous due to the risk of wrecks and long periods spent on the road.Related: `Smokey and the Bandit' Charm Fades as Trucking Hiring Lags“This middle mile is the most expensive part of the whole supply chain; it’s a huge pain point,” said Gautam Narang, CEO of Gatik, which is attempting to automate Walmart’s “hub and spoke” warehouse system. “This fills a big gap in the market.”From a technological standpoint, business-to-business, or B2B, delivery is the straightforward counterpoint to the complexities of autonomous ride-hailing and driverless delivery directly to consumers, known as B2C or last-mile. Robo-vans like those being put to the test at Walmart follow fixed routes over and over, reducing the chance of mishaps and increasing their time in service generating revenue. Many of these routes are already established using human drivers today, so there’s little need to map new paths and create infrastructure to load and receive the goods.Related: Robot Rides Are Going to Deliver Pizza and Parcels Before PeopleFord Motor Co., testing many forms of driverless delivery, calls these repeatable routes “milk runs,” a throwback term to the days of household dairy delivery.“Anything on driverless delivery that is a milk run is a good application for autonomy,” said Sherif Marakby, chief executive officer of Ford’s autonomous vehicles unit. “B2C is a complex implementation for autonomy that will come with time, but B2B just makes it easier because you get volume and you can be more predictable.”The case for robots ferrying packages before people is becoming more compelling as robo-taxis struggle to gain traction. Consumers have grown wary of giving up the wheel, especially after a pedestrian was killed last year by an autonomous Uber Technologies Inc. test car. Waymo, Alphabet Inc.’s driverless unit, initiated limited automated ride-hailing in suburban Phoenix late last year with human “safety drivers” on board. General Motors Co. no longer says it will debut a similar service this year. Instead, CEO Mary Barra now says the rollout will be “gated by safety.”QuicktakeWhen the Driverless Cars Arrive, Will You Climb In?: QuickTakeDriverless delivery also has another big advantage over robo-taxis: no demanding human passengers. “People have more emotions than boxes,” Ford’s Marakby said.Meanwhile, driverless delivery is already hitting the road. Swedish startup Einride recently began low-speed robo-deliveries on public roads in its home country. It has signed up several Fortune 500 clients, like tire-maker Michelin, plus logistics service provider DB Schenker and German grocer Lidl.Looking like a Star Wars Imperial troop transport on wheels, Einride’s T-Pod trucks are 60% cheaper to build because they lack a passenger compartment. If they get into a jam, they can be remote controlled by humans from a command center. One human monitors the remote controls for 10 trucks. The T-Pods operate in self-driving mode 95% of the time, according to CEO and founder Robert Falck.Stuffed with payload and no human driver, a T-Pod can operate around the clock and cut shipping costs in half. That’s why Falck says his company is already profitable, though he declines to give specifics.“There are solid economics behind this and that’s also what the customer realizes,” Falck said. “If you break down the numbers, it’s the best business case out there.”TuSimple, a San Diego startup valued at $1.1 billion, leads a pack of tech outfits seeking to automate long-haul trucking. The company has a fleet of 50 robot Peterbilt and Navistar trucks that have been transporting commercial loads in Arizona for a year. And while it isn’t profitable yet, it expects to book revenue of more than $1 million a month in the second half of the year.“If you break down the numbers, it’s the best business case out there.”In the final two weeks of May, its self-driving big rigs—equipped with cameras that can see more than a half-mile down the road—completed 10 test runs for the U.S. Postal Service of an arduous 1,000-mile stretch from Phoenix to Dallas. Over Memorial Day weekend, the trucks faced howling crosswinds and “mud rain,” a blinding combination of dust, wind and rain. And yet the robo-rigs consistently beat human-driven trucks to the mail depot by as much as two hours. “We were approaching the edge of our operational design domain,” said Chuck Price, TuSimple’s chief product officer. “But we were able to demonstrate that we can do it much faster, with high consistency and high reliability. So bottom line, it’s more efficient.”By next year, TuSimple says it will pull the safety driver and engineer it currently has babysitting its rigs and go fully driverless—something no robo-taxi has committed to yet. By 2023 or 2024, the company plans to have “commercially ready” robo-rigs rolling out of a factory of a major truck maker.That kind of confidence is hard to come by these days among the purveyors of robo-taxis, still struggling to figure out how to navigate the pedestrians, cyclists and unpredictable traffic of chaotic urban environments. Increasingly, the call of the open road and the mundane middle miles between warehouses is proving to be the clearest path to the autonomous future. That’s why big players like Waymo and Tesla Inc.—still working on driverless people haulers—are also developing robo-rigs.“There’s absolutely a market for this sort of thing,” said Sam Abuelsamid, an analyst with Navigant Research. “People don’t really care much about what goes on behind the scenes to get them the products they want. But the value of all the goods being moved is far more than ride-hailing applications.”To contact the authors of this story: Keith Naughton in Southfield at knaughton3@bloomberg.netMatthew Boyle in New York at mboyle20@bloomberg.netTo contact the editor responsible for this story: Anne Riley Moffat at ariley17@bloomberg.net, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Financial Times•yesterday
General Motors and DBS Bank adapt for period of flux
One heads the legal team of a venerable US carmaker, the other leads lawyers and compliance professionals at an Asian bank. Both these senior corporate lawyers work at the heart of businesses — and sectors — that are in flux.
- InvestorPlace•2 days ago
Tesla: Car Stock or Tech Stock?
Since Tesla (NASDAQ:TSLA) stock started scaling production, the question for potential investors has become whether this is a car stock or a tech stock.Source: Shutterstock If it's a tech stock, it's dirt cheap. Sales roughly doubled from 2017 to 2018, and after the first quarter they were on pace to double again. Tesla is doing this at scale, with revenue for the first quarter alone at over $4.5 billion.If it's an auto stock, it's frightfully expensive. Tesla opened for trade June 17 with a market cap of $38.2 billion on trailing-year sales of $21 billion. Auto stocks like General Motors (NYSE:GM) have traded this whole decade at roughly one-third sales, even with big earnings and dividends that yield 4.56% if you buy today.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo far in 2019, investors are calling Tesla a car stock. The shares are down 38% and skepticism about the company's future is growing. But is that fall a buying opportunity? Change Over?Tesla was launched in 2003 in an impossible dream, to produce a luxury electric car (at scale) and the battery that went into it. Later it added a second goal, to make that car capable of driving itself.Tesla has done all that. Tesla has succeeded so well that its goals are now shared by the entire industry, and now impact all price levels. Volkswagen (OTCMKTS:VLKAY), whose diesel engines were the dirtiest in the industry, is now fully committed to Tesla-izing itself, with Chinese help. So is the rest of the auto pack.In its first-quarter report, released in April, about 20% of Tesla's revenue came from things other than cars. Tesla services, Tesla solar panels and (especially) Tesla batteries all contributes. The battery operations are even profitable. But their contribution hasn't changed -- Tesla remains a car company, and the solar panels are a sore point. The design keeps changing and the price keeps rising.Tesla's hope for continued growth is its Model 3 sedan, designed to cost $35,000. This may be the source of the bearishness. Questions have emerged about Tesla production levels, quality and demand. CEO Elon Musk insisted at this month's shareholder meeting that demand is not a problem. Tesla Stock and the China CardThere is another card in the Tesla deck: the China card.Tesla owners in China are volunteering to help speed up deliveries, since the company is closing its dealer network. And its Chinese-owned Shanghai factory is already having production equipment installed. Hopes are it will produce 3,000 cars per week by the end of the year. The U.S. factory seems to have hit its production limit at 7,000 cars per week. The Bottom LineTesla shares bottomed in May at levels last seen in 2016.The company has never made money. Capital gains have been the only reason to buy the shares. Traders have done much better with Tesla than any other auto stock, as it has been highly volatile.But I'm an investor. I like to buy good stocks, put them away for five years, and see a profit at the end of that time. In June of 2014 Tesla was selling at about $230 per share, $15 more than its current price.For speculators, then, the party's over. Investors need to ask themselves if Tesla can scale, if Tesla can find a profit, if the battery and solar panel operations will ever contribute, and if China can be a significant boost.All that may happen, but I'm not putting any money on it. That GM dividend should have paid back one-fourth of my investment by that time.Dana Blankenhorn is a financial and technology journalist. He is the author of the mystery thriller, The Reluctant Detective Finds Her Family, available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Red-Hot IPO Stocks to Buy for the Long Run * 5 Stocks to Buy for $20 or Less * 4 Dow Jones Stocks Ready to Rise Compare Brokers The post Tesla: Car Stock or Tech Stock? appeared first on InvestorPlace.
- InvestorPlace•2 days ago
Here’s How Amazon Stock Pays Practically Nothing in Taxes
It's not difficult to use Amazon.com (NASDAQ:AMZN) as a proverbial punching bag. Not only does the internet behemoth pay practically nothing in corporate income taxes, but with Amazon stock at its current price, CEO Jeff Bezos is the world's wealthiest man. Such a high profile keeps everything he and his company does under constant scrutiny.Source: Shutterstock The world has not been shy about doing so either, consistently pointing out how little the big company hands over to the IRS in any given year. Presidential candidate Joe Biden was the most recent to chime in, echoing similar sentiments served up by fellow Democrats Bernie Sanders and Alexandria Ocasio-Cortez.It's been straw man for years though.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhatever the history of the criticism, as is so often the case in the game of political rhetoric, inconvenient details are omitted as needed. The reality is Amazon pays every penny of taxes it owes.And, perhaps more prescient to current and prospective owners of Amazon stock, there's going to come a point in time when the company is forced to pay a tax bill that looks a little more like those paid by comparable corporations. Every Penny OwedLast year's tax bill? Nada. Zip. In fact, Amazon received a refund of $129 million despite a pretax profit of $10.8 billion. That was only a little less than its 2017 refund, when it booked a pretax profit of $5.4 billion. * 5 Stocks to Buy for $20 or Less Investors need to be careful about lumping all tax liabilities into one aggregate sum though. While it's true that Amazon hasn't paid any Federal income tax since 2016 (and even before then paid very little), there is more to a corporate tax liability than just Federal taxes on profits. The frustration is ultimately rooted in deductions that have been reducing corporate tax liabilities since well before President Donald Trump's business-friendly tax code overhaul went into effect in 2017. Namely, the company's investments in research and development (R&D), its investment in property and equipment, and the cost of shares granted to employees as part of compensation packages all whittle down Amazon's tax liability in any given year. In most cases, that spending pares back tax bills on a dollar-for-dollar basis.For 2018, R&D spending shaved $419 million from its tax liability. Stock-based compensation took it down another $1.1 billion.Then there's the historical losses being carried forward to offset future profits.Although with a different schedule, as is the case for personal income taxes, losses that would exceed maximums permitted in any given year can be saved and then applied in later years, until fully extinguished.Amazon.com operated in the red for years since its inception in 1994, only turning a reliably recurring profit after 2014. There are still past losses on the books that will be used to offset future earnings' incurred taxes. With profits now the new norm, Amazon is using up the remainder of those past losses at a healthy clip.Most important: Amazon has, to the best of its ability, remained 100% compliant with U.S. and state tax laws, paying every penny it owes even if not one cent more. The Rest of the Story for AMZNTo that end, it's unfair to acknowledge-but-excuse Amazon's modest tax burden without pointing out a bigger-picture upside. That is, while Amazon may owe little to no taxes in any given year, it's still responsible for facilitating an enormous degree of tax revenue that might never take shape if the company didn't exist.Case in point: Amazon turned over $1.18 billion worth of state, local, and international tax receipts to the appropriate entities in 2018.Perhaps the most relevant but most overlooked nuance of Amazon's tax-revenue driving capacity is the write-down of its stock-based compensation plan. While the program reduces income that would otherwise be taxed at a maximum of 21%, it's passed along to high-earning employees who may pay a marginal rate of as much as 37% on the entire amount of Amazon stock granted them.In a sense, by paying less in corporate income tax, it's possible Amazon is generating even more tax revenue than it would by spurring greater personal income tax receipts.Less directly, the tax-reducing spending on research and property -- an option offered to all corporations -- helps create jobs that spur more tax collection. That's why such spending is incentivized. Bottom Line for Amazon StockFor the record, it's not just Amazon that hasn't paid Federal income tax. General Motors (NYSE:GM), Netflix (NASDAQ:NFLX), Southwest Airlines (NYSE:LUV) and a whole slew of other major corporations have sidestepped at least one year's worth of tax liability of late; many have sidestepped a tax bill more than once.Amazon has proven to be the poster child for the problem, however, by virtue of being the most pervasive brand name among the major offenders. The fact that it has been accused of underpaying and overworking many of its employees hasn't helped keep the public's eye off of the organization.While Amazon stock owners are enjoying the limited amount of taxes the company has been paying, it is not a situation that will last indefinitely. Sooner or later the carry-forward losses will be used up.In the meantime, to continue the growth-investment-oriented tax breaks, Amazon.com has to continue capital spending rather than passing income along to shareholders. Eventually the company may run out of things worth buying for the purpose of driving growth. Most of those funds would, for most other outfits, be passed along directly to shareholders. That's no small trade-off.Stock-based compensation also proves dilutive to existing shareholders.Amazon may not be paying Federal income taxes, but that advantage is still coming at a price, of sorts.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Red-Hot IPO Stocks to Buy for the Long Run * 5 Stocks to Buy for $20 or Less * 4 Dow Jones Stocks Ready to Rise Compare Brokers The post Here's How Amazon Stock Pays Practically Nothing in Taxes appeared first on InvestorPlace.
- American City Business Journals•2 days ago
C-Suite Rides: Mitsubishi still sells vehicles in the U.S.? Yes, but very quietly
It’s nice to know that Mitsubishi is still making vehicles. But none of them for sale today have the panache and style like the 3000GT VR4 from yesteryear.
- Zacks•2 days ago
Autos Power Industrial Production Higher: 5 Picks
An increase in production of autos and related parts was the highlight of May???s report.
- Markit•2 days ago
See what the IHS Markit Score report has to say about General Motors Co.
General Motors Co NYSE:GMView full report here! Summary * Perception of the company's creditworthiness is negative * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is extremely low for GM with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting GM. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding GM are favorable, with net inflows of $8.81 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Goods sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. GM credit default swap spreads are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
- Market Realist•2 days ago
Will the Fed Cut the Interest Rate on June 19?
The Fed's two-day meeting is scheduled to start on June 19. The Fed will release a statement and announce its interest rate decision on the same day. Expert Jim Grant weighs in on the possibility of an interest rate cut.
- Bloomberg•2 days ago
Ford Takes Regulator for a Spin in Pitch to Save Connected Cars
(Bloomberg) -- Automakers won control over a choice swath of wireless spectrum 20 years ago on the promise of delivering safety innovations to vehicles.Now, after failing to deliver widespread breakthroughs, they’re at risk of losing those frequencies to Comcast Corp. and other cable companies that say they can use them to offer robust Wi-Fi links to subscribers.The years-long struggle between the industries is nearing an inflection point, with Federal Communications Commission Chairman Ajit Pai signaling he may consider new uses for the airwaves. Pai could announce as early as Tuesday that he’ll schedule a vote to re-examine the allocation at the commission’s meeting next month.“The spectrum, for 22 years, has not reached its highest valued use, and that’s part of the reason why I think it’s important to have an open conversation,” Pai said at a Senate hearing last week. “I’m not saying what the answer should be, I’m simply saying let’s ask the questions that would enable us to have an informed conversation.”That conversation has already kicked off a flurry of activity by stakeholders. A team at Ford Motor Co. gave Pai a ride in a specially outfitted F-150 pickup truck earlier this month. The idea was to demonstrate the technology that could, for example, warn of a scooter’s approach or judge when it’s safe to enter an intersection.“Grateful to Ford for showing us a glimpse of the future,” Pai said in a tweet after his parking-lot spin. “It’s important to have an open conversation about the future of this band” of airwaves.Ford and other carmakers including BMW AG and Toyota Motor Corp., don’t want to lose the rights they gained in 1999 from the FCC for a system designed to link cars, roadside beacons and traffic lights into a seamless wireless communication web to avoid collisions and heed speed limits.Yet after nearly two decades, deployments have been few. An Obama administration proposal to mandate the technology in new cars has been left to languish under the deregulatory agenda pursued by President Donald Trump. General Motors Co. introduced the first factory-equipped model, a Cadillac sedan, just two years ago. And in April, Toyota scrapped plans to equip its cars with the systems starting in 2021.Now even automakers are moving away the original system, and see greater promise in a newer method based on cellular radios -- the system in the F-150 that Ford showed off for the FCC’s Pai. Ford plans to begin equipping all of its U.S. vehicles with the systems starting in 2022.That is an issue for carmakers as the 1999 allocation of airwaves by the FCC locked them into the system envisioned then. They need new rules to use a cellular system, which is backed by several companies including Ford, Audi AG and gear maker Qualcomm Inc.Ford, in a statement, said it is “critical” for the FCC to allow the newer, cellular-based method to use the airwaves because it will become the dominant technology to connect vehicles, infrastructure and pedestrians.Cable providers have pounced, characterizing the currently mandated system as fostering “two decades of stagnation.”They’ve called for ending carmakers’ exclusive rights to the frequencies at 5.9 GHz and allocating all or most of the band to the Wi-Fi systems that carry web traffic for most cable customers.Some consumer groups agree. They include the Consumer Federation of America, the American Library Association, Public Knowledge and the Open Technology Institute at New America.“The best outcome for consumers is to move vehicle safety signaling to a different set of frequencies and allow next generation Wi-Fi to use 5.9 GHz,” Michael Calabrese, director of the Wireless Future Project at the Open Technology Institute, said in an email.Pai controls the FCC’s agenda, and his impatience ushers in a moment of promise -- and peril.“We could maintain the status quo” but “I am quite skeptical that this is a good idea,” Pai said in a speech last month to a gathering that celebrated the Wi-Fi signals used for connections in hotel lobbies, coffee shops and homes.Pai said it would take a formal rulemaking to allow greater Wi-Fi use of the swath, or to let automakers exploit the band for the cellular safety system.Skepticism has arisen within the Trump administration. Transportation Secretary Elaine Chao telephoned Pai to urge the FCC not to use its June meeting to commence its consideration of the airwaves, according to one official briefed on the matter who spoke on condition of anonymity because the conversation wasn’t public.While Transportation Department officials haven’t advanced the previous administration’s proposed mandate, they want autos to hold onto the airwaves.“Preserving the spectrum for transportation safety, which can save lives, is probably more important than slightly faster Wi-Fi,” Derek Kan, the Transportation Department’s undersecretary for policy, said in an interview June 3.To contact the reporters on this story: Todd Shields in Washington at tshields3@bloomberg.net;Ryan Beene in Washington at rbeene@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Elizabeth Wasserman, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks•3 days ago
Why GM Is Set to Challenge Tesla in Electric & Autonomous Vehicle Markets
GM is one of many automakers trying to chase Tesla (TSLA) as the top electric and autonomous vehicle manufacturer, with plans to produce 20 models of electric cars by 2023.
- Zacks•3 days ago
General Motors (GM) Outpaces Stock Market Gains: What You Should Know
General Motors (GM) closed the most recent trading day at $36.14, moving +1.35% from the previous trading session.
- Market Realist•3 days ago
GM Stock Struggled Near 200-Day Moving Average
For General Motors stock, the 200-day simple moving average is at $36.40, which makes it a stronger resistance level. This week, General Motors stock might continue to retest the support level near its 200-day simple moving average.
