Electric vehicles could cost the auto industry millions of jobs, a top analyst says

The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst. “As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transf


The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst. “As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transf
Electric vehicles could cost the auto industry millions of jobs, a top analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: michael sheetz
Keywords: news, cnbc, companies, millions, jobs, force, global, jonas, industry, auto, electric, labor, analyst, million, tesla, cost, vehicles, vehicle


Electric vehicles could cost the auto industry millions of jobs, a top analyst says

The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst.

Morgan Stanley’s Adam Jonas said in a research note Friday that the auto industry is going to see serious, widespread changes to its labor force. Jonas said electric vehicle production will lead to heavy workforce cuts as companies like Elon Musk’s Tesla push big automakers to make them part of the mainstream.

“As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said.

Jonas earned a wide following on Wall Street for his early calls on Tesla, as well as his thoughts on electric vehicles. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transforming the way cars are made.

Morgan Stanley estimates that the global auto supply chain employs “in the range of 11 million people.” Jonas pointed to recent statements by VW Group CEO Herbert Diess, who said it takes 30 percent less labor to produce an electric vehicle than a similarly priced car that has the traditional internal combustion engine. This would result in a headcount cut of more than 3 million workers from the global auto industry.

But that number could increase, Jonas said.

Jonas said tech start-ups like Tesla and Rivian could build electric vehicles at “a 50 percent reduction in direct labor … or more.” That would reduce the global auto supply chain labor force even further. Even at just a 30 percent cut, Jonas estimates the labor force reduction would cost automakers “collectively and over time upwards of” $60 billion.

Maintenance and servicing for electric vehicles is less expensive than traditional cars, another consideration in terms of the labor force needed as the switch to the newer cars continues.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: michael sheetz
Keywords: news, cnbc, companies, millions, jobs, force, global, jonas, industry, auto, electric, labor, analyst, million, tesla, cost, vehicles, vehicle


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Electric vehicles could cost the auto industry millions of jobs, a top analyst says

The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst. “As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transf


The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst. “As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transf
Electric vehicles could cost the auto industry millions of jobs, a top analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: michael sheetz
Keywords: news, cnbc, companies, millions, jobs, force, global, jonas, industry, auto, electric, labor, analyst, million, tesla, cost, vehicles, vehicle


Electric vehicles could cost the auto industry millions of jobs, a top analyst says

The electric car has become so popular that it could cost 3 million auto industry jobs in the next three to five years, according to a prominent analyst.

Morgan Stanley’s Adam Jonas said in a research note Friday that the auto industry is going to see serious, widespread changes to its labor force. Jonas said electric vehicle production will lead to heavy workforce cuts as companies like Elon Musk’s Tesla push big automakers to make them part of the mainstream.

“As auto companies shift production towards electric vehicles, we expect increased pressure on a 100-year-old auto ecosystem supporting millions of jobs globally…representing a risk to labor relations, earnings and the balance sheet,” he said.

Jonas earned a wide following on Wall Street for his early calls on Tesla, as well as his thoughts on electric vehicles. He recently has begun highlighting how electric vehicle start-ups are challenging automakers by transforming the way cars are made.

Morgan Stanley estimates that the global auto supply chain employs “in the range of 11 million people.” Jonas pointed to recent statements by VW Group CEO Herbert Diess, who said it takes 30 percent less labor to produce an electric vehicle than a similarly priced car that has the traditional internal combustion engine. This would result in a headcount cut of more than 3 million workers from the global auto industry.

But that number could increase, Jonas said.

Jonas said tech start-ups like Tesla and Rivian could build electric vehicles at “a 50 percent reduction in direct labor … or more.” That would reduce the global auto supply chain labor force even further. Even at just a 30 percent cut, Jonas estimates the labor force reduction would cost automakers “collectively and over time upwards of” $60 billion.

Maintenance and servicing for electric vehicles is less expensive than traditional cars, another consideration in terms of the labor force needed as the switch to the newer cars continues.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: michael sheetz
Keywords: news, cnbc, companies, millions, jobs, force, global, jonas, industry, auto, electric, labor, analyst, million, tesla, cost, vehicles, vehicle


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China plans a solar power play in space that NASA abandoned decades ago

Now the studies conducted on feasibility are decades old and simply no longer relevant to the discussion, Mankins said. “We no longer need a stupendously huge factory in space and hundreds of astronauts to put it together. Thin film solar panels are lightweight, which reduces launch cost. Thin film may also have a structural advantage in space — the lighter weight is no issue in the zero-gravity environment. In India and in Europe scientists are working on additional concepts for solar based pow


Now the studies conducted on feasibility are decades old and simply no longer relevant to the discussion, Mankins said. “We no longer need a stupendously huge factory in space and hundreds of astronauts to put it together. Thin film solar panels are lightweight, which reduces launch cost. Thin film may also have a structural advantage in space — the lighter weight is no issue in the zero-gravity environment. In India and in Europe scientists are working on additional concepts for solar based pow
China plans a solar power play in space that NASA abandoned decades ago Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: eric rosenbaum, donovan russo, nasa, getty images news, getty images, mark hopkins, national space society, sps-alpha concept, image provided john c mankins, -john mankins
Keywords: news, cnbc, companies, tech, power, china, abandoned, cost, ago, launch, issue, decades, weight, huge, play, thing, solar, nasa, space, plans, weighing


China plans a solar power play in space that NASA abandoned decades ago

Mankins said this view is becoming quickly outdated due to a dramatic lowering of rocket launch costs through efforts funded by billionaires including Tesla founder Elon Musk’s SpaceX and Amazon founder Jeff Bezos’s Blue Origin. Meanwhile, developments in robotics and modular-manufacturing — being able to produce many small modular pieces to make a whole rather than one huge piece of equipment — could lead to cost-effective ways to construct these projects in orbit without having to build a multi-billion-dollar factory in space. He referenced a major review conducted by the federal government in 1981 that when looked at in today’s dollars would have cost up to $1 trillion to deliver the first kilowatt/hour of solar from space. “The whole program was killed in the U.S.,” he said.

Now the studies conducted on feasibility are decades old and simply no longer relevant to the discussion, Mankins said. “Whenever a gray-haired senior scientist tells you something can be done, they are almost certainly right. When they tell you it can’t be done, he or she may very well be wrong,” he said, referencing an adage by science fiction author Arthur C. Clarke from his famous “three laws.”

“We have had a revolution in robotics, drones and warehouse robots that didn’t exist. Previously, the whole thing had to be built as one huge system, an enormous thing like a aircraft carrier shipyard in space to fabricate one enormous object weighing 10,000 tonnes rather than 10 million small units each weighing a few pounds that can use mass production,” he said. “We no longer need a stupendously huge factory in space and hundreds of astronauts to put it together. The whole world, other than the space program, has moved forward to mass-produced modular network devices. That’s the way you would do it, and it was unthinkable 40 years ago, but suddenly it is physically, technically and economically doable.”

American scientists are tinkering with the idea to this day. A group at the California Institute of Technology claims to have created a prototype that is able to capture and transmit solar energy from space, using light weight tiles, work sponsored by a $17.5 million research agreement with Northrop Grumman. Weight has always been a key issue to resolve because of the cost of rocket launches being based on weight of cargo. Thin film solar panels are lightweight, which reduces launch cost. Though as launch costs come down it may be less of a make-or-break issue. Thin film may also have a structural advantage in space — the lighter weight is no issue in the zero-gravity environment.

Other nations are exploring the concept. In India and in Europe scientists are working on additional concepts for solar based power in space. Japan’s JAXA, an aerospace exploration agency, has been researching how to overcome technological barriers, such as microwave wireless power transmission tech and robotic assembly tech.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: eric rosenbaum, donovan russo, nasa, getty images news, getty images, mark hopkins, national space society, sps-alpha concept, image provided john c mankins, -john mankins
Keywords: news, cnbc, companies, tech, power, china, abandoned, cost, ago, launch, issue, decades, weight, huge, play, thing, solar, nasa, space, plans, weighing


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Beware this 1 red flag personality trait. Harvard study says they can bleed you—and your money—dry

We all know at least person in the office who possesses all the traits of a toxic co-worker (i.e., they’re lazy, acts superior to others, loves to gossip, etc.). But one of the biggest red flag personality traits, according to a Harvard Business School study, is the constant need to spread negativity. In other words, they are a pain to be around and their actions can make everyone’s workday utterly miserable. The data, which observed more than 50,000 employees, found that this type of “toxic” co


We all know at least person in the office who possesses all the traits of a toxic co-worker (i.e., they’re lazy, acts superior to others, loves to gossip, etc.). But one of the biggest red flag personality traits, according to a Harvard Business School study, is the constant need to spread negativity. In other words, they are a pain to be around and their actions can make everyone’s workday utterly miserable. The data, which observed more than 50,000 employees, found that this type of “toxic” co
Beware this 1 red flag personality trait. Harvard study says they can bleed you—and your money—dry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: mark murphy, tampatra, -mark murphy, founder
Keywords: news, cnbc, companies, employees, personality, bleed, trait, harvard, coworker, traits, loss, major, cost, beware, study, moneydry, toxic, youand, flag, red


Beware this 1 red flag personality trait. Harvard study says they can bleed you—and your money—dry

We all know at least person in the office who possesses all the traits of a toxic co-worker (i.e., they’re lazy, acts superior to others, loves to gossip, etc.).

But one of the biggest red flag personality traits, according to a Harvard Business School study, is the constant need to spread negativity. In other words, they are a pain to be around and their actions can make everyone’s workday utterly miserable.

The data, which observed more than 50,000 employees, found that this type of “toxic” co-worker is a major red flag because of their ability to drive other employees to quit their jobs, faster and frequently. They can “cause major organizational cost, including customer loss, loss of employee morale, increased turnover and loss of legitimacy among important external stakeholders,” the researchers cited.

Additionally, the study found that a superstar performer, defined as “one that models desired values and delivers consistent performance” will save a company more than $5,300. But making an effort to reduce the negative behavior of their toxic peers (or immediately letting them go) will deliver even higher cost savings of up to $12,500.


Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: mark murphy, tampatra, -mark murphy, founder
Keywords: news, cnbc, companies, employees, personality, bleed, trait, harvard, coworker, traits, loss, major, cost, beware, study, moneydry, toxic, youand, flag, red


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Beware this 1 red flag personality trait. Harvard study says they can bleed you—and your money—dry

We all know at least person in the office who possesses all the traits of a toxic co-worker (i.e., they’re lazy, acts superior to others, loves to gossip, etc.). But one of the biggest red flag personality traits, according to a Harvard Business School study, is the constant need to spread negativity. In other words, they are a pain to be around and their actions can make everyone’s workday utterly miserable. The data, which observed more than 50,000 employees, found that this type of “toxic” co


We all know at least person in the office who possesses all the traits of a toxic co-worker (i.e., they’re lazy, acts superior to others, loves to gossip, etc.). But one of the biggest red flag personality traits, according to a Harvard Business School study, is the constant need to spread negativity. In other words, they are a pain to be around and their actions can make everyone’s workday utterly miserable. The data, which observed more than 50,000 employees, found that this type of “toxic” co
Beware this 1 red flag personality trait. Harvard study says they can bleed you—and your money—dry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: mark murphy, tampatra, -mark murphy, founder
Keywords: news, cnbc, companies, employees, personality, bleed, trait, harvard, coworker, traits, loss, major, cost, beware, study, moneydry, toxic, youand, flag, red


Beware this 1 red flag personality trait. Harvard study says they can bleed you—and your money—dry

We all know at least person in the office who possesses all the traits of a toxic co-worker (i.e., they’re lazy, acts superior to others, loves to gossip, etc.).

But one of the biggest red flag personality traits, according to a Harvard Business School study, is the constant need to spread negativity. In other words, they are a pain to be around and their actions can make everyone’s workday utterly miserable.

The data, which observed more than 50,000 employees, found that this type of “toxic” co-worker is a major red flag because of their ability to drive other employees to quit their jobs, faster and frequently. They can “cause major organizational cost, including customer loss, loss of employee morale, increased turnover and loss of legitimacy among important external stakeholders,” the researchers cited.

Additionally, the study found that a superstar performer, defined as “one that models desired values and delivers consistent performance” will save a company more than $5,300. But making an effort to reduce the negative behavior of their toxic peers (or immediately letting them go) will deliver even higher cost savings of up to $12,500.


Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: mark murphy, tampatra, -mark murphy, founder
Keywords: news, cnbc, companies, employees, personality, bleed, trait, harvard, coworker, traits, loss, major, cost, beware, study, moneydry, toxic, youand, flag, red


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43% of California voters say they can’t afford to live there

A full 43 percent of Californian voters, and an astounding 61 percent of those aged 18 to 34, feel they can’t afford to live in the state, according to a recent Quinnipiac University poll. The median value for a house in the Golden state is about $550,000, according to real-estate website Zillow. The median monthly rent for an apartment in California is $2,750, which is also about 1.75 times the national median. It’s no wonder so many residents in California and elsewhere are having a hard time.


A full 43 percent of Californian voters, and an astounding 61 percent of those aged 18 to 34, feel they can’t afford to live in the state, according to a recent Quinnipiac University poll. The median value for a house in the Golden state is about $550,000, according to real-estate website Zillow. The median monthly rent for an apartment in California is $2,750, which is also about 1.75 times the national median. It’s no wonder so many residents in California and elsewhere are having a hard time.
43% of California voters say they can’t afford to live there Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: shawn m carter, marco brivio, getty images
Keywords: news, cnbc, companies, california, voters, afford, housing, living, cost, residents, research, live, including, poll, cant, financial, 43, state, say


43% of California voters say they can't afford to live there

A full 43 percent of Californian voters, and an astounding 61 percent of those aged 18 to 34, feel they can’t afford to live in the state, according to a recent Quinnipiac University poll. And over three-quarters of voters agree that there’s a “housing crisis.”

The median value for a house in the Golden state is about $550,000, according to real-estate website Zillow. That’s more than twice the national median.

The median monthly rent for an apartment in California is $2,750, which is also about 1.75 times the national median.

But it may not just be housing that’s causing residents to feel strapped. Other research suggests it’s the cost of living overall.

Quinnipiac University poll, Feb. 6, 2019

In a poll that aimed to “pinpoint what’s causing the worst financial fears and stress among Americans,” California residents said their top financial stressor was the general cost of living. Respondents could choose between “debt,” “health care,” “housing,” or “taxes,” as well as “education,” including college expenses, “everyday costs,” including groceries and utilities, or “family,” including child care and divorce.

And a whopping 91 percent of residents in the Bay Area say the cost of living there is either “somewhat” or “very” high, a poll from data firm YouGov shows. Some experts warn that the situation there may only become more extreme.

It’s no wonder so many residents in California and elsewhere are having a hard time. Americans’ budgets are tight: A recent survey from financial website Bankrate found that only 39 percent have enough savings to cover a $1,000 emergency. A similar survey from the Federal Reserve found that 40 percent of adults couldn’t cope with a $400 emergency.

Middle-class incomes have shrunk in nearly every state, according to data from the Pew Research Center and the Census Bureau, and U.S. households just experienced the biggest decline in net worth since the financial crisis.

Meanwhile, housing costs keep increasing. Home values in California have ticked up 4 percent in the past year and research suggests they could rise another 7 percent within the next year.


Company: cnbc, Activity: cnbc, Date: 2019-03-08  Authors: shawn m carter, marco brivio, getty images
Keywords: news, cnbc, companies, california, voters, afford, housing, living, cost, residents, research, live, including, poll, cant, financial, 43, state, say


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Tesla doesn’t know where it will build the Model Y as it rolls out more layoffs and cost cuts

Tesla executives still have not decided where to manufacture the company’s forthcoming crossover SUV, the Model Y, according to six current and former employees. That’s one indication Tesla has barely begun planning for Model Y manufacturing, they said. Musk has already said the Model Y should cost about 10 percent more than the Model 3, which starts at $35,000. Employees say Tesla executives, including its president of automotive, Jerome Guillen, are wavering between two options for Model Y pro


Tesla executives still have not decided where to manufacture the company’s forthcoming crossover SUV, the Model Y, according to six current and former employees. That’s one indication Tesla has barely begun planning for Model Y manufacturing, they said. Musk has already said the Model Y should cost about 10 percent more than the Model 3, which starts at $35,000. Employees say Tesla executives, including its president of automotive, Jerome Guillen, are wavering between two options for Model Y pro
Tesla doesn’t know where it will build the Model Y as it rolls out more layoffs and cost cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: lora kolodny, mike blake, source, tesla, salwan georges, the washington post, getty images
Keywords: news, cnbc, companies, companys, build, rolls, layoffs, doesnt, model, know, truck, cuts, unveil, production, teslas, executives, cost, planning, tesla


Tesla doesn't know where it will build the Model Y as it rolls out more layoffs and cost cuts

Tesla executives still have not decided where to manufacture the company’s forthcoming crossover SUV, the Model Y, according to six current and former employees. This despite the fact the company is planning to formally unveil the vehicle for the first time on March 14 at the company’s design center in Hawthorne, California.

Two other people who work for Tesla vendors said the automaker did not contact them about working together on Model Y production until after CEO Elon Musk teased the unveiling in a tweet on March 3. That’s one indication Tesla has barely begun planning for Model Y manufacturing, they said.

Musk has already said the Model Y should cost about 10 percent more than the Model 3, which starts at $35,000.

Along with a pickup truck that Tesla plans to unveil later this year, the Model Y could ensure that Tesla’s lineup stays competitive versus offerings from other electric truck and SUV makers. Those rivals include Rivian, a newcomer funded by Amazon, and established automakers like BMW and Hyundai, who are honing in on Tesla’s territory with electric cars.

Employees say Tesla executives, including its president of automotive, Jerome Guillen, are wavering between two options for Model Y production. They are trying to decide whether Tesla should allocate space in the Gigafactory, the company’s massive battery plant outside of Reno, Nevada, or combine the Model S and Model X body lines at its car plant in Fremont, California, to make room to build the crossover SUVs.

One employee said if executives have made a decision, they haven’t given a green light to employees who will be involved in setting up the Model Y lines and eventually building the vehicles.

A Tesla spokesperson pointed to a February letter to shareholders, but declined to offer an update on Model Y planning. The letter said, “This year we will start tooling for Model Y to achieve volume production by the end of 2020, most likely at Gigafactory 1.”


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: lora kolodny, mike blake, source, tesla, salwan georges, the washington post, getty images
Keywords: news, cnbc, companies, companys, build, rolls, layoffs, doesnt, model, know, truck, cuts, unveil, production, teslas, executives, cost, planning, tesla


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2020 election: Democratic primary candidates back debt-free college

Four of the six senators in the Democratic primary co-sponsored legislation aiming to make public college debt-free, which Sen. Brian Schatz, D-Hi., introduced on Wednesday. The Schatz plan, first proposed last year, would allow participating states to receive federal money matching the amount they give to state colleges. The proposal comes as some lawmakers and activists push to address the mounting student debt crisis. The U.S. student debt burden topped $1.5 trillion by the fourth quarter of


Four of the six senators in the Democratic primary co-sponsored legislation aiming to make public college debt-free, which Sen. Brian Schatz, D-Hi., introduced on Wednesday. The Schatz plan, first proposed last year, would allow participating states to receive federal money matching the amount they give to state colleges. The proposal comes as some lawmakers and activists push to address the mounting student debt crisis. The U.S. student debt burden topped $1.5 trillion by the fourth quarter of
2020 election: Democratic primary candidates back debt-free college Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: jacob pramuk, scott olson, getty images
Keywords: news, cnbc, companies, debtfree, debt, race, sen, primary, candidates, student, plan, schatz, cost, democratic, 2020, college, election, students, sanders


2020 election: Democratic primary candidates back debt-free college

Nearly all Senate Democrats running for president in 2020 have embraced a massive overhaul of how students pay for college.

Four of the six senators in the Democratic primary co-sponsored legislation aiming to make public college debt-free, which Sen. Brian Schatz, D-Hi., introduced on Wednesday. Sens. Cory Booker of New Jersey, Kirsten Gillibrand of New York, Kamala Harris of California and Elizabeth Warren of Massachusetts have all backed the plan. While Sen. Bernie Sanders, a Vermont independent running for president as a Democrat, was not among the initial co-sponsors, he has put forth his own plan to make public colleges and universities tuition-free.

Only one senator in the race has not endorsed either the Schatz or Sanders proposals: Sen. Amy Klobuchar, D-Minn. It fits with the Midwestern Democrat’s strategy of casting herself as a more middle-of-the-road alternative to her colleagues.

With the exception of former Vice President Joe Biden, who has not yet entered the race, the candidates near the top of early Democratic primary polls have generally been senators.

The Schatz plan, first proposed last year, would allow participating states to receive federal money matching the amount they give to state colleges. To get those funds, they would have to commit to helping students cover the full cost of attendance — not just tuition — without taking on debt.

In putting the bill forward, Schatz said “we need to focus on the real cost to students and their families” if “we are going to be serious about solving the student loan debt crisis.” The proposal comes as some lawmakers and activists push to address the mounting student debt crisis. It does not offer a cost estimate.

The U.S. student debt burden topped $1.5 trillion by the fourth quarter of last year, according to the Federal Reserve. Research has found the mountain of debt has affected other parts of the economy, including home ownership.

The Democratic primary will in part be defined by how far candidates want to move toward solving problems, and how quickly. Fault lines have already emerged on issues from student loans to health care.

Klobuchar, considered one of the more centrist candidates in the race, has embraced what she considers a more pragmatic solution. Asked last month about the Sanders plan, Klobuchar said “I am not for free four-year college for all.”

She worried about the cost of such a plan — potentially tens of billions of dollars per year.

“I wish — if I was a magic genie and could give that to everyone and we could afford it, I would,” she said at a CNN town hall event.

Klobuchar has pushed for up to two years of free community college and the expansion of Pell Grants. She has also supported allowing borrowers to refinance student loans at lower rates and backed expanded tax credits for education after high school.

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Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: jacob pramuk, scott olson, getty images
Keywords: news, cnbc, companies, debtfree, debt, race, sen, primary, candidates, student, plan, schatz, cost, democratic, 2020, college, election, students, sanders


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Tesla doesn’t know where it will build the Model Y as it rolls out more layoffs and cost cuts

Tesla executives still have not decided where to manufacture the company’s forthcoming crossover SUV, the Model Y, according to six current and former employees. That’s one indication Tesla has barely begun planning for Model Y manufacturing, they said. Musk has already said the Model Y should cost about 10 percent more than the Model 3, which starts at $35,000. Employees say Tesla executives, including its president of automotive, Jerome Guillen, are wavering between two options for Model Y pro


Tesla executives still have not decided where to manufacture the company’s forthcoming crossover SUV, the Model Y, according to six current and former employees. That’s one indication Tesla has barely begun planning for Model Y manufacturing, they said. Musk has already said the Model Y should cost about 10 percent more than the Model 3, which starts at $35,000. Employees say Tesla executives, including its president of automotive, Jerome Guillen, are wavering between two options for Model Y pro
Tesla doesn’t know where it will build the Model Y as it rolls out more layoffs and cost cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: lora kolodny, mike blake, source, tesla, salwan georges, the washington post, getty images
Keywords: news, cnbc, companies, planning, model, doesnt, companys, production, truck, layoffs, unveil, executives, cost, tesla, rolls, teslas, know, cuts, build


Tesla doesn't know where it will build the Model Y as it rolls out more layoffs and cost cuts

Tesla executives still have not decided where to manufacture the company’s forthcoming crossover SUV, the Model Y, according to six current and former employees. This despite the fact the company is planning to formally unveil the vehicle for the first time on March 14 at the company’s design center in Hawthorne, California.

Two other people who work for Tesla vendors said the automaker did not contact them about working together on Model Y production until after CEO Elon Musk teased the unveiling in a tweet on March 3. That’s one indication Tesla has barely begun planning for Model Y manufacturing, they said.

Musk has already said the Model Y should cost about 10 percent more than the Model 3, which starts at $35,000.

Along with a pickup truck that Tesla plans to unveil later this year, the Model Y could ensure that Tesla’s lineup stays competitive versus offerings from other electric truck and SUV makers. Those rivals include Rivian, a newcomer funded by Amazon, and established automakers like BMW and Hyundai, who are honing in on Tesla’s territory with electric cars.

Employees say Tesla executives, including its president of automotive, Jerome Guillen, are wavering between two options for Model Y production. They are trying to decide whether Tesla should allocate space in the Gigafactory, the company’s massive battery plant outside of Reno, Nevada, or combine the Model S and Model X body lines at its car plant in Fremont, California, to make room to build the crossover SUVs.

One employee said if executives have made a decision, they haven’t given a green light to employees who will be involved in setting up the Model Y lines and eventually building the vehicles.

A Tesla spokesperson pointed to a February letter to shareholders, but declined to offer an update on Model Y planning. The letter said, “This year we will start tooling for Model Y to achieve volume production by the end of 2020, most likely at Gigafactory 1.”


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: lora kolodny, mike blake, source, tesla, salwan georges, the washington post, getty images
Keywords: news, cnbc, companies, planning, model, doesnt, companys, production, truck, layoffs, unveil, executives, cost, tesla, rolls, teslas, know, cuts, build


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A serious shortage of cybersecurity experts could cost companies hundreds of millions of dollars

In the first half of 2018 alone, more than four billion records were compromised to data breaches. That comes at a heavy price, according to a 2018 study by IBM and the Ponemon Institute. The average data breach cost companies $3.86 million, the study found, and large-scale breaches can hit $350 million. Against that backdrop, companies are eager to hire cybersecurity experts to guard against those risks. “I always say that cybersecurity professionals are like physicians, in that they have to sp


In the first half of 2018 alone, more than four billion records were compromised to data breaches. That comes at a heavy price, according to a 2018 study by IBM and the Ponemon Institute. The average data breach cost companies $3.86 million, the study found, and large-scale breaches can hit $350 million. Against that backdrop, companies are eager to hire cybersecurity experts to guard against those risks. “I always say that cybersecurity professionals are like physicians, in that they have to sp
A serious shortage of cybersecurity experts could cost companies hundreds of millions of dollars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: shirley tay, jack guez, afp, getty images
Keywords: news, cnbc, companies, security, companies, research, dollars, millions, cost, study, million, cybersecurity, professionals, data, serious, according, hundreds, shortage, experts, oltsik


A serious shortage of cybersecurity experts could cost companies hundreds of millions of dollars

Attempted cyberattacks are no longer an “if,” but a “when.” And, for many companies, hackers will win.

In the first half of 2018 alone, more than four billion records were compromised to data breaches.

That comes at a heavy price, according to a 2018 study by IBM and the Ponemon Institute. The average data breach cost companies $3.86 million, the study found, and large-scale breaches can hit $350 million.

Against that backdrop, companies are eager to hire cybersecurity experts to guard against those risks. The problem: There aren’t nearly enough people who can fill those roles.

The demand for skilled security professionals is one of the biggest challenges facing the cybersecurity industry today, with 2.93 million positions open and unfilled around the world, according to non-profit IT security organization (ISC)².

Without trained security staff, organizations don’t have the capability to deploy the right controls or develop specific security processes to detect and prevent cyberattacks, according to Jon Oltsik, senior principal analyst at IT research firm Enterprise Strategy Group. On top of that, current employees face the challenge of an ever-shifting industry.

“I always say that cybersecurity professionals are like physicians, in that they have to spend ample time studying the latest research and threat intelligence,” said Oltsik


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: shirley tay, jack guez, afp, getty images
Keywords: news, cnbc, companies, security, companies, research, dollars, millions, cost, study, million, cybersecurity, professionals, data, serious, according, hundreds, shortage, experts, oltsik


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