“Adapt of Die”
“Thankfully, I have a rainy day fund or I would be in serious financial trouble,” today’s contributor says.
“I am (was) in the airport sedan business in South Florida. Needless to say, my thriving business that took me 18 years to build has absolutely cratered.
“And if my business — which is off 94% — doesn’t return to 60-70% by February, I’m out. My lease runs out, and I’m moving to Maine to start buying multi-family houses.
“The business that I had built to support my retirement got torched by government malfeasance and incompetence. Where do I go to get that back?
“I understand there are no guarantees when you own your own business, and I can understand if I screwed it up myself by running it badly, but that’s not the case. My business was solid and growing.
“To say the least, I am not in a charitable mood towards government hacks at all levels who made decisions based on errant projections.
“Anyway, now we are in ‘adapt or die’ mode. Thank you for your column.”
We’re keeping our fingers crossed for our reader… And we think that’ll be our new mantra here at The Rundown: adapt or die. Words to live by post-coronavirus.
So how’re you adapting to the new normal?
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Friday, Sept. 11, 2020…
EV: All the Rage
Not sure whether you’ve noticed or not, but the electric vehicle (EV) space is all the rage right now. Wednesday we mentioned GM taking an 11% stake in electric truck maker Nikola, and GM rolling out Nikola’s pickup — the Badger — in 2022.
Now we read Volkswagen’s taking a swipe at Tesla…
“The head of VW’s worker union believes that they can achieve a production capacity of 1.5 million electric vehicles by 2023 ‘or sooner’,” says an article at Electrek.
The article mentions: “Tesla had a production capacity of 690,000 cars at the end of the last quarter according to its own filing,” the article continues. But with factories in Shanghai, Berlin, Texas and California, “it would put Tesla’s total output closer to 2 million vehicles once all projects are completed.”
Meaning VW has some catching up to do…
“As for Volkswagen, the automaker has converted its entire Zwickau factory to electric vehicle production and it also started to convert its Emden factory to begin electric car production in 2022.
“VW is also producing electric vehicles out of a factory in China and it is building a new factory next to its Chattanooga factory in Tennessee to produce electric vehicles,” Electrek notes… along with the possibility of converting its facility in Wolfsberg, Germany to electric vehicle production.
VW’s gaining, Tesla… “However, the automaker will also have to secure battery cell supply, which it is trying to do through partnerships with several major cell suppliers and its own effort with Northvolt.” Yeah, the battery’s kinda important (ha).
Northvolt is a Swedish company that specializes in the manufacture of lithium-ion batteries. We’ll keep our eyes peeled for other companies that might partner with VW in their race for EV dominance.
Market Rundown for Friday, Sept. 11, 2020
S&P 500 futures are up 25 points to 3,364.
Oil’s up just 5 cents to $37.35 for a barrel of West Texas crude.
Gold is down $7.90 to $1,956.50 per ounce.
Bitcoin is down $20 to $10,230.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
We hope you have a pleasant weekend. We’ll talk soon.
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