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Flashpoint

Devin Scillian hosts Local 4's weekly community hot topic program.

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Flashpoint

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EDWARD JONES


Auto prices finally begin to creep down from inflated highs

Average prices on new and used vehicles have begun easing from their record highs, and more vehicles have become available at dealerships.

GM sidesteps economic headwinds; Q3 profit jumps nearly 37%

General Motors’ third-quarter net profit rose 36.6% as vehicle sales began to rebound from persistent parts supply chain troubles.

Buffett's conglomerate closes $11.6B Alleghany insurance buy

Warren Buffett's conglomerate has completed its largest acquisition in years with its $11.6 billion purchase of the Alleghany insurance conglomerate.

Buffett's successor buys nearly $70M of Berkshire stock

Billionaire Warren Buffett’s successor bought nearly $70 million worth of stock in the conglomerate he is slated to one day lead.

These are the best ways to give to charity for the 'vast majority of people.' Here's how to pick the most tax-efficient strategy

If you're planning a charitable gift for 2022, here's how to decide on the most tax-efficient strategy.

cnbc.com

As deadline looms, railroads say strike would cost $2B a day

The major freight railroads say in a new report designed to put pressure on unions and Congress that a strike would cost the economy more than $2 billion a day and disrupt deliveries of all kinds of goods and passenger traffic nationwide if it happens after a key deadline passes next Friday without a contract agreement.

Buffett's company likely to add to its stake in Occidental

Warren Buffett’s company now has clearance to boost its current 20% stake in Occidental Petroleum up to 50% of the oil producer.

Warren Buffett's company has bet $47B on the oil sector

Warren Buffett’s company has now bought up more than $11 billion worth of Occidental Petroleum stock this year to give Berkshire Hathaway control of more than 20% of the oil producer.

Biden intervenes in railroad contract fight to block strike

President Joe Biden has blocked a freight railroad strike that would disrupt shipments of all kinds of goods for at least 60 days by naming a board of arbitrators to intervene in the contract dispute.

Economic worries further older Americans' pandemic-era plans to delay retirement, survey finds

Last July, about a third of 11,000 older Americans surveyed said they expected to delay retirement. Earlier this year, 59% of them said that they expected to.

cnbc.com

Warren Buffett tells shareholders about spending $51 billion

Warren Buffett gave Berkshire Hathaway investors a few details of how he spent more than $50 billion earlier this year and again reassured them that the company he built will endure long after the 91-year-old billionaire is gone.

Banks slowly reconsider overdraft fees, amid public pressure

The banking industry appears to have overdone it on overdraft fees.

Siddall marks 30 years with Edward Jones

Siddall marks 30 years with Edward Jones

monroenews.com

CSX profit slips in 4Q but railroad hauls 4% more freight

FILE - A CSX freight train pulls through McKeesport, Pa., on Tuesday, June 2, 2020. CSX railroad reported relatively flat fourth-quarter earnings even though it hauled 4% more freight as the economy continued to rebound from last years widespread virus-related shutdowns. – CSX railroad reported relatively flat fourth-quarter earnings even though it hauled 4% more freight as the economy continued to rebound from last year’s widespread virus-related shutdowns. The freight railroad posted revenue of $2.83 billion in the period, also beating Street forecasts. In last year's second quarter, volume fell 20% when many businesses were shut down as officials sought to limit the spread of COVID-19.

Union Pacific delivered 3% more freight as economy recovered

FILE - In this Sept. 13, 2019, file photo the logo for Union Pacific appears above a trading post on the floor of the New York Stock Exchange. Without that charge, Union Pacific said it would have reported $1.6 billion net income, or $2.36 per share. Union Pacific said volume grew 3% as the economy continued to recover from the worst of the pandemic. During the quarter, Union Pacific limited its expense growth to to 1% even as it handled more shipments and recorded the one-time charge. Union Pacific is one of the nation’s largest railroads, and it operates 32,400 miles (52,000 kilometers) of track in 23 Western states.

Hawley, facing fallout, blames media, D.C. 'establishment'

FILE - In this Jan. 6, 2021 file image from video, Sen. Josh Hawley, R-Mo., speaks at the U.S. Capitol in Washington. And the allegation itself is corrosive and dangerous.”Other than Trump himself, no politician has suffered the fallout as has Hawley. “Missouri is fed up,” Justice Horn, of Kansas City, who helped organize the event, said in a news release. Hallmark Cards, based in Kansas City, earlier this week asked Hawley and Republican Sen. Roger Marshall of Kansas to return employee campaign donations. Hawley, in his 739-word essay, said those involved in the Capitol attack must be punished, saying, “Mob violence is always wrong.”“But democratic debate is not mob violence,” Hawley wrote.

Bank profits remain resilient despite lingering pandemic

They set aside, yet again, tens of billions of dollars to cover additional potentially bad loans. Collectively the five biggest banks put aside $34.62 billion to cover bad loans just in the second quarter. JPMorgan set aside $611 million to cover potentially bad loans in the third quarter, a fraction of the $10.47 billion the bank set aside to cover bad loans in the second quarter. On Wednesday, Bank of America said it set aside $1.4 billion to cover potentially bad loans, far less than the $5.1 billion it set aside three months earlier. Most of the worry seems to reflect investors' uncertainty about whether banks will have to set aside additional billions in the future.

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