F&I data: Auto loan denial rate rises to 19%
Auto lenders denied nearly 1 in 5 consumers seeking a car loan during the 12 months ending in June, a larger rejection rate than a year earlier, according to the Federal Reserve Bank of New York’s survey.
Repeal of Inflation Reduction Act's EV, manufacturing incentives a ‘scary thought,' industry executives say
The auto industry is urging lawmakers to preserve the Inflation Reduction Act’s EV manufacturing and sales incentives, arguing they’re crucial to making the U.S. competitive on the global stage.
2025 ID Buzz EV, priced from $61,545, will become VW's most expensive model in U.S.
The ID Buzz hits U.S. showrooms as EV sales slow and incentives rise, and it is priced significantly higher than the average transaction price for minivans as well as the industry’s overall new vehicle.
Firm objects to Orlando Health $439 million hospital purchase deal
TALLAHASSEE — A real-estate firm has objected to a proposed $439 million deal that would lead to the health system Orlando Health buying three hospitals in Brevard and Indian River counties as part of the bankruptcy of hospital operator Steward Health Care.
Medical Properties Trust, Inc., which owns the hospital properties and leases them to Steward, argued in a court document Monday that Steward had not properly followed bidding procedures because it did not distinguish between the values of hospital operations and the real estate.
The document said bankruptcy laws and the U.S. Constitution don’t allow Steward and Orlando Health to “dictate the terms on which the debtor’s landlord (MPT) will sell its private property.”
“There is no basis at all for a scheme under which a non-debtor real estate owner can be compelled not just to sell its property, but to accept whatever (capped) price that the buyer dictates,” MPT’s attorneys wrote.
But Steward’s attorneys Monday filed a complaint that said Steward and its affiliates, “consistent with their rights under the bidding procedures, allowed bidders to submit bids that contemplate a single purchase price for the relevant hospital’s or hospitals’ operations and real estate combined.”
Regional US airports are back after years of decay
Lebawit Lily Girma | Bloomberg News (TNS)
The ski resorts near Gunnison and Crested Butte, Colorado, are so close to Aspen, you’d think the area wouldn’t need its own airport. Their glitzier neighbor is just 48 miles north as the crow flies, though that’s roughly 150 miles by road.
But people flocking to Crested Butte’s laid-back town, extreme ski slopes and epic mountain biking have a new reason to bypass farther-away Aspen: the destination’s gleaming new airport, which debuted in January 2023.
Not only is the Gunnison-Crested Butte Regional Airport terminal easy to get across quickly, at just 40,000 square feet, it’s also heated and cooled with geothermal energy and uses triple glazed windows to keep travelers warm in a town known to be one of the coldest places in the US.
And Crested Butte isn’t the only small town airport receiving an upgrade.
All across the U.S., at least a dozen small and medium-size facilities are being renovated and, in some cases, entirely rebuilt — typically on budgets that stretch eight and nine figures. That contradicts a long-held belief among aviation industry pros that these regional facilities were destined to gather dust and die out.