Roughly six million auto borrowers with shoddy credit scores are at least 90 days late on making their loan payments, according to new figures released by the New York Federal Reserve. The percentage of delinquent subprime auto loans has raced to the highest level since 2010.
Since the end of the Great Recession, there’s been an explosion of auto loans, growing to more than $1.1 trillion. That, along with a far stronger economy, has helped fuel a boom in U.S. auto sales.
While Detroit’s sales slowed down earlier this year due to rising prices, General Motors (GM) and Ford (F) on Thursday said sales accelerated in November. The industry is now back on track for record sales in 2016. It could be the eighth-straight year of increases.
But part of those sales may have been fueled by easy availability of credit for borrowers with poor credit, who are evidently now struggling to pay off those loans.
When we’re trying to get the most out of our promotional budgets, we love to find a format that delivers effective low-cost advertising. But we love getting to play with the latest and greatest ad technology, too. Although many people overlook it today, the bus stop advert actually offers a great compromise between these two desirable values.
Here are a few of the reasons bus stop ads are well worth consideration for any brand that’s looking to increase its exposure.
Bus shelter advertising is highly scalable. The format delivers a low cost of entry that is friendly to local groups and small businesses, but the sheer breadth of exposure makes these ads attractive to large brands as well.
Initial startup costs are some of the biggest expenses a new business owner will have to encounter. Before you turn a profit, there are many parts of the business that need to be covered up front, and entrepreneurs don’t always anticipate some of these expenses.
To reduce your startup costs and stretch your dollars a little farther, follow these tips.
Have a budget, and stick to it
A simple way to save money as a new business owner is to set spending and expense limits. However, a surprising number of business owners don’t have a formal budget, said Carissa Reiniger, founder of small business support community.
Amazon is hosting the second of two major keynotes at its re:Invent developer conference in Las Vegas today. TechCrunch has received detailed notes on the contents of today’s keynote, which will be delivered by Amazon CTO, Werner Vogels. We already knew he was going to talk about DevOps and containers today, but here are a few more details of what to expect. The keynote is scheduled to start at 8:30am PT.
AWS Personal Health Dashboard
AWS Personal Health Dashboard will give developers data on the health of the infrastructure that is running their applications. This is the kind of operational data that companies are used to having on their applications — and should make DevOps teams feel a lot more comfortable using AWS to launch their cloud applications.
Fallen mobile phone giant Nokia is about to (attempt to) rise again next year with new phones — this time based on Android.
The plan has been known for a while, but it’s now official, as the company itself confirmed it in a press release Thursday.
The new Nokias will be manufactured by Foxconn subsidiary FIH Mobile and sold by a Finnish company called HMD Global, which will have an exclusive global license for the Nokia brand for the next ten years. This means another Android player has emerged in the overcrowded market, albeit one with a familiar brand name.
The story of the new, new Nokia is somewhat complex, so here’s a little background: Microsoft bought Nokia’s struggling mobile phone division in 2013 for $7.2 billion but it ditched the Nokia brand the following year, instead calling its mobile phones Microsoft Lumia.
Many employers have been wrestling with plans to comply with new U.S. Department of Labor (DOL) overtime rules since last May. That’s when the rules were finalized, with a December 1 compliance deadline. Those new rules included raising the minimum salary overtime exemption to $913 per week from $455. A little more than a week before the deadline for the rules was to take effect, a federal court has issued an injunction, at least temporarily blocking implementation of the changes.
In its decision, the court stated it believes the DOL exceeded its authority in promulgating the rule. In addition, the court said the DOL failed to follow Congress’s intent, which was to reexamine the duties test of the overtime rules, and not to focus solely on the salary level, as the final rules do.
The DOL’s initial response was to state that it “strongly disagrees” with the ruling, and is “currently considering all of our legal options.” A couple of short-term legal scenarios remain possible: The U.S. District Court for the Eastern District of Texas, which issued the ruling, could drop its temporary injunction.
Making more profit is NOT the same as generating more revenue.
They are two completely different areas, and something that I see very little discussion on.
Sure, I see LOTS of talk about revenues, i.e. six-figure businesses, multi-six-figure businesses, seven-figure businesses, but you never seem to get to the real story behind these headlines – how much profits are they really making? How much of the $100k does the business owner actually get to keep once expenses are paid — that’s the profit!
A six- or even seven-figure business sounds great, but it’s not so great if the profits aren’t there, i.e. you’re only making a $10k profit from a $100k business.
Profits are basically what’s left over (pre-tax or gross) after a business’ expenses have been deducted from its revenues – and this is one area of business that you need to keep a close eye on. So, taking two different scenarios, let’s look at some simple math in determining the profits of a six-figure business and a smaller five-figure business: