Chip shortage hits subprime lender Credit Acceptance as car loan volumes tumble
Amid its own internal tumult, coupled with unheard of external market conditions, Credit Acceptance Corp. has seen its loan volumes take a dive off the cliff.
The Southfield-based subprime auto lender (NASDA: CACC) disclosed in a regulatory filing this week that its May "Consumer Loan assignment…
Biden infrastructure plan endangered by dire U.S. shortages
The biggest threat to President Joe Biden's vision of energizing the U.S. economy with the largest infrastructure program in decades may not be its challenging path through Congress, but a dire shortage of everything from workers to cement mills.While weeks or months of negotiations will be needed…
A beachfront house in New Buffalo will set a new benchmark for the Southwest Michigan town when its sale closes within a few days of Memorial Day. It will be the fourth home in New Buffalo to sell for $4 million or more in the past year.
That's a high-end sales rush New Buffalo hasn't…
Travel bookings bounce back as Hilton has best night since pandemic hit, CEO says
Hilton was nearly 93% occupied on the Saturday of Memorial Day weekend, making it the best day the company has had since the start of the pandemic, its CEO says.
An Arms Race in America: Gun Buying Spiked During the Pandemic. It’s Still Up.
Preliminary research data show that about a fifth of all Americans who bought guns last year were first-time gun owners. Sales usually spike around elections, but the sheer volume is notable.
AP FACT CHECK: House GOP falsely blames Biden for gas prices
WASHINGTON (AP) — Heading into the Memorial Day travel weekend, House Republican leader Kevin McCarthy and other members of his party are falsely blaming President Joe Biden for higher gasoline and lumber costs.
Game on! Dick's rallies on the return of team sports
A year after safety fears led to the cancellation of baseball and other team sports, Dick’s Sporting Goods is having a comeback year as bats, balls and jerseys fly off shelves. First-quarter sales more than doubled to $2.92 billion and the company raised its expectations for sales and profits in 2021.
There's A Rental Car Shortage In Store This Summer Travel Season
A global microchip shortage has impacted car production down in the U.S., which has led to a shortage of rental cars. Here's what that means on the cusp of the summer travel season.
Rental car firms face shortage as travel demand revs back up: Travel Weekly
As summer leisure travel ramps up, travel industry insiders predict the rental car shortage currently gripping the U.S. is likely to worsen before it gets better.
Food producers adapt after pandemic alters business models
As a producer that heavily supplies the food service industry, Swanson Pickle Co. Inc. had to make profound adjustments to its sales channels when the COVID-19 pandemic changed buying habits. As a producer that heavily supplies the food service industry, Swanson Pickle Co. Inc. had to make profound...
U.S. Commerce Secretary Gina Raimondo says using the Defense Production Act, a wartime power to set priorities for certain supplies, would be “a challenge.”
Amid COVID pandemic, country life lures metro Detroit homebuyers
Erika Smith and Bryan Taberski did what any city dweller might do when the coronavirus pandemic closed offices and remote work became the norm.They became examples of the shift in residential real estate as metro Detroiters looking for more space moved to areas with larger lots, bigger houses and a…