AutoNation: CDK cyberattack will reduce Q2 2024 earnings by $1.50 per share
AutoNation said this impact would be split about evenly between lost income and guaranteeing commissioned employees’ pay.
Lock in 5% CDs before the Fed starts cutting rates
Not everyone will be happy when the Federal Reserve begins lowering interest rates after it declares victory over inflation.
Remember, there is a large but low-profile flock of folks with money who like to profit in a very old-fashioned way – savings accounts.
For almost two years, these investors enjoyed the highest rates on these zero-risk bets since the turn of the century. But now it seems the “bull market” for no-brainer savings may be coming to an end.
So for fans of these less-than-sexy investments, it may be time to get busy locking in some longer-term deals with certificates of deposit. And I wish I could end this column right here and tell you to simply go to your neighborhood banking institution and load up on attractive CD rates.
But unfortunately, finding decent deals is not very simple. So let me walk you through the CD maze.
First a history lesson
Before the Fed’s war on inflation began in 2022 with rising rates, the post-Great Recession era was painful for savers. Yields crumbled to near zilch as the Fed used cheap money to ease the financial woes. Then they repeated the tactic to soothe the pandemic’s business challenges.
Lock in 5% CDs before the Fed starts cutting rates
Not everyone will be happy when the Federal Reserve begins lowering interest rates after it declares victory over inflation.
Remember, there is a large but low-profile flock of folks with money who like to profit in a very old-fashioned way – savings accounts.
For almost two years, these investors enjoyed the highest rates on these zero-risk bets since the turn of the century. But now it seems the “bull market” for no-brainer savings may be coming to an end.
So for fans of these less-than-sexy investments, it may be time to get busy locking in some longer-term deals with certificates of deposit. And I wish I could end this column right here and tell you to simply go to your neighborhood banking institution and load up on attractive CD rates.
But unfortunately, finding decent deals is not very simple. So let me walk you through the CD maze.
First a history lesson
Before the Fed’s war on inflation began in 2022 with rising rates, the post-Great Recession era was painful for savers. Yields crumbled to near zilch as the Fed used cheap money to ease the financial woes. Then they repeated the tactic to soothe the pandemic’s business challenges.
Dealerships lost $1.02B in business after CDK cyberattack, updated AEG study says
Anderson Economic Group estimated auto dealerships lost 56,200 new-vehicle sales and more than $1 billion between June 19 and July 15 because of the CDK Global cyberattacks and subsequent software outages.
UAW's federal monitor warns of union's continuing culture of fear and retribution
The latest report by Monitor Neil Barofsky argues UAW President Shawn Fain and union leadership need to implement more reforms and work harder to change the union’s culture.