HANOVER, Germany — Continental A.G. is bracing itself for a rough first half of 2019 as it expects a slowdown in vehicle production in the last few months of 2018 to continue throughout the first half of 2019.
Members of Canada’s parliament want to question General Motors CEO Mary Barra about the automaker’s future in their country. The House of Commons Standing Committee on Industry, Science and Technology approved a request Tuesday to have Barra “come before committee and explain GM’s future and continued commitment to the Canadian automotive and manufacturing industry in Canada.” Ontario New Democratic Party member Brian Masse filed the motion, which was passed by the all-party committee.
Continental AG (OTCPK:CTTAF) is a high-quality German automotive manufacturing company specializing in tires and non-tire rubber products, auto parts, and future automotive technologies like autonomous driving and electric vehicle ecosystems. A confluence of factors, involving tariff threats from Trump, a cyclical slowdown in China, and production bottlenecks from EU emission regulations, has caused the stock to fall by almost 50%. The stock is now very cheap compared to its trading history, but the U.S. tariff threat looms large on the horizon. This article makes the argument for a speculative buy, where large gains could be made if U.S. tariffs don’t eventuate.
Approx 770 KW/h (Syngas) runs 500 S9s. Right now reward is about .30 btc per day on 6.88 Ph/s. So about 1 btc per 3.5 days. PRTI process produces power from 11,500 tires to make 1 Bitcoin, 7.15k gal oil, 37.8k pds steel
Nokian Tires announced it has hired Stephen DeCastro to lead North American financial operations from the company’s new office in Nashville, Tennessee. DeCastro will serve as Nokian Tires’ Head of Finance and Controlling for the Americas region.
“We are excited to welcome Stephen to our team,” said Nokian Tires Senior Vice President, Americas Mark Earl. “His experience will help us build scalable financial systems that will support our growth.”
Stephen DeCastro | © Nokian Tires
The Detroit-based automaker General Motors (NYSE:GM) said its fourth-quarter U.S. sales dropped 2.7% year-over-year to 785,229 units. Whiles the company saw sales growth in the GMC brand, sales at other major brands, namely Chevrolet, Cadillac and Buick, declined during the quarter. Kurt McNeil, U.S. vice president, sales operations, commented:
“We have built the most successful pickup, SUV and crossover business in the industry and we gained considerable momentum in the fourth quarter of 2018 as dealers began delivering the all-new Chevrolet Silverado, GMC Sierra and Cadillac XT4 … We feel confident heading into 2019 because we have more major truck and crossover launches coming during the year and the U.S. economy is strong.”
The tire industry lost another major figure in B.C. and Canada with the recent passing of Mike Hennessy. Mike was one of the original key operations staff who helped create the initial start-up of BC’s Financial Incentives for Recycling Scrap Tires (FIRST) program in the early 1990s. He and his team managed FIRST through to 2007 when he was asked to help transition the FIRST program to a producer responsibility model. He then became the first Executive Director of Tire Stewardship BC (TSBC) until his retirement in 2014. Today, TSBC is considered one of the premier tire stewardship organizations in the world.
Mike was also instrumental through his work with the Canadian Association of Tire Recycling Agencies (CATRA) lending his operational experience and expertise, and helping all provinces achieve better outcomes from end-of-life tire management.
(Bloomberg) — U.S. government officials are publicly withholding judgment on China’s efforts to ease trade tensions ahead of talks next week, raising the prospect that Beijing’s latest economic-reform announcements won’t go far enough to satisfy President Donald Trump’s demands.
China in recent weeks has announced steps to open up its economy since Trump and President Xi Jinping met over dinner Dec. 1 to diffuse tensions. But they mostly fall short of U.S. Trade Representative Robert Lighthizer’s demands for big structural changes on alleged forced technology transfer and theft of intellectual property, analysts said.
WASHINGTON — Tire, auto and labor interests reacted hopefully but cautiously to two major trade moves made recently by President Trump.
First, on Nov. 30, Mr. Trump joined Canadian Prime Minister Justin Trudeau and outgoing Mexican President Enrique Pena Nieto in signing the U.S.-Mexico-Canada Agreement (USMCA), which is designed to replace the North America Free Trade Agreement (NAFTA).
Second, on Dec. 1, the White House announced that the U.S. and China would suspend new tariffs for 90 days while they held new talks over a possible trade agreement.
Also, the Trump administration will postpone the Jan. 1 start date for 25-percent tariffs on some $200 billion worth of Chinese goods, including tires, rubber chemicals, manufactured rubber goods and synthetic and natural rubber.
TOKYO (Reuters) – Tokyo prosecutors indicted ousted Nissan Motor (7201.T) chairman Carlos Ghosn for under-reporting his income and also officially charged the automaker, making the firm culpable for the financial misconduct scandal that has shocked the industry. Ghosn was arrested on Nov. 19 on suspicion of conspiring to understate his compensation by about half of the actual 10 billion yen ($88 million) over five years from 2010.