GM's Barra: Profit potential in 'above and beyond' tech, not heated seats
Software and services represent a major growth opportunity for GM, particularly as they extend beyond a vehicle’s first owner, Barra said.
US hiring jumped last month. So did unemployment. Here’s what that says about the economy
By CHRISTOPHER RUGABER (AP Economics Writer)
WASHINGTON (AP) — The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of enduring strength in an economy that the Federal Reserve is desperately trying to cool.
Friday’s report from the government reflected the job market’s resilience after more than a year of aggressive interest rate increases by the Fed. Many industries, from construction to restaurants to health care, are still adding jobs to keep up with consumer demand and restore their workforces to pre-pandemic levels.
Overall, the report painted a mostly encouraging picture of the job market. Yet there were some mixed messages in the May figures. Notably, the unemployment rate rose to 3.7%, from a five-decade low of 3.4% in April. It’s the highest unemployment rate since October. (The government compiles the unemployment data using a different survey than the one used to calculate job gains, and the two surveys sometimes conflict.)
Franchise Equity Partners reveals $55M minority stake in Parks Automotive Group
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NHTSA fails government audit for missing deadlines
In a report released Wednesday by the U.S. Transportation Department’s Office of Inspector General, auditors reviewed a sample of investigations conducted in 2018, 2019 and 2021 to determine whether the agency has adequate tools, processes and resources to probe and identify safety defects.
Robert Earl’s virtual restaurants grow as others fall by the wayside
Food from Pardon My Cheesesteak arrives from Uber Eats in a bag with the restaurant’s yellow logo on it, but the kitchen that makes it could belong to an IHOP, TooJay’s Deli, or another eatery.
Virtual restaurants like Pardon My Cheesesteak allow existing kitchens to add new menus under different names on delivery apps like Uber Eats. They became so popular amid the coronavirus pandemic that Uber said in March it had more than 40,000 virtual storefronts and the company was launching a certification program to improve their quality.
Pardon My Cheesesteak’s parent company, Virtual Dining Concepts, is seeing growing business and expanding internationally, said Orlando restaurateur Robert Earl, a co-founder and shareholder.
“We’re seeing increases in our total volume, and it continues to grow,” Earl said.
But some virtual restaurants owned by other companies are losing thunder, three years after the start of the coronavirus pandemic and the ensuing frenzy of ordering in.
Winter Park-founded Tijuana Flats launched a virtual restaurant called Smack Wings in 2021, but it has since been discontinued. A representative for Tijuana Flats said executives wouldn’t do interviews about Smack Wings and directed the Orlando Sentinel to the brand’s website, which says wings will be available at Tijuana Flats.