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Newspaper
Sun Journal
Location
New Bern, North Carolina, United States of America
Date
Nov 01, 2019
Page
5
U S shoppers boosted spending by 0.2 percent in September while incomes rose 0.3 percent lifting the saving rate to 8.3 percent. Inflation measures remained tame as the Fed weighs tariff risks and the broader economy sustains growth into a record 11th year.
The United Auto Workers and Ford reached a tentative four year contract after three days of bargaining. Revisions await approval by national and local committees in Detroit before a ratification vote by Ford’s 55,000 union workers. The deal, mirroring GM terms, promises job security and raises, with emphasis on investment and potential wage scales.
Steve Showfety, longtime chairman of the Piedmont Triad Airport Authority, died of brain cancer at 72. He guided land purchases for expansion, backed aerospace growth, and led Koury Corp. as president, shaping the Koury Convention Center, Grandover Resort, and the Sheraton Greensboro Hotel. He served on multiple local boards, earned East Carolina University honors, and received the Stanley Frank Award and The Order of the Long Leaf Pine.
Lyft reported 955.6 million dollars in revenue for the third quarter, a 63 percent rise year over year, while a 463.5 million dollar loss reflected stock based compensation and IPO payroll costs. Executives expect profitability in about two years and cite higher value rides, fewer discounts, and growing active riders above 22 million. The company emphasizes profitable growth through airport and business trips and partnerships with universities and medical organizations.
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