Ford and GM change ‘chairman’ title with gender-neutral ‘chair’

Bill Ford, executive chairman and chairman of the board of directors of Ford Motor Company.

Geoff Robins | AFP | Getty Images

DETROIT – Ford Motor CompanyBill Ford is no longer chairman of the automaker’s board of directors, but he still runs the show.

The automaker’s board of directors voted last week to amend Ford’s bylaws to “adopt gender-neutral language throughout, including the title of ‘chair’ instead of ‘chairman’,” according to a recent regulatory filing.

Bill Ford’s new title is simply “Chair”.

The changes, which went into effect immediately, are a pretty big step for them historically male-dominated auto industry. They come after large swathes of American corporations pledged to their employees and investors to be more inclusive and to focus on diversity efforts following the social unrest in the wake of the #MeToo movement and the assassination of George Floyd last year.

“Our roles at Ford are not gender-specific, and these changes help limit ambiguity and contribute to the inclusive and equitable culture we create,” Ford spokeswoman Marisa Bradley said in a statement emailed.

A spokesperson for General Motors said Monday it removed the title of “chairman” from CEO Mary Barra in exchange for “chairman” in May. He said GM did not change its bylaws but made the changes internally and on the company’s website.

Mary Barra, CEO of General Motors, leaves after meeting with House Speaker Nancy Pelosi (D-CA) at the US Capitol in Washington, USA, June 16, 2021.

Carlos Barria | Reuters

“Mary Barras title change from chairman and CEO to chairman and CEO is just one of many changes at General Motors as we move towards becoming the most inclusive company in the world,” said David Barnas, a company spokesman, in a statement emailed.

Barra assumed the title of “Chairwoman” when she headed the automaker’s board of directors in January 2016. She is the first female CEO and chairwoman of a major automaker.

JPMorgan Chase & Co. made headlines earlier this year by also removing gender designations from its articles of association.

GM, Ford are all-in on EVs. Right here’s how sellers really feel about it

A sign will be unveiled at General Motors Detroit-Hamtramck Assembly on October 16, 2020, introducing the facility’s new name: Factory Zero, Detroit-Hamtramck Assembly Center.

GM

After years of predictions that battery-powered sedans, pickups and SUVs would replace fuel-guzzling, emission-saving models, the switch to electric vehicles is in full swing. Beyond EV pioneers and market leaders Tesla, virtually every major automaker is queuing to flip the electric switch, and it’s a big deal not only for consumers but also for thousands of dealerships across the country facing the electric future.

General Motors said it aims only produce electric vehicles by 2035, with 30 new plug-in models to be launched by 2025, representing an investment of $ 27 billion. ford, which previously allocated $ 22 billion to develop electric vehicles, just announced it 40% of the vehicles are electrified by 2030. Toyota, Volkswagen, Daimler, Hyundai, Fiat Chrysler, Honda and other automakers are making similar commitments.

In preparation for this onslaught of new models, franchise auto dealerships in the United States – many of them long-standing small businesses in suburbs and rural communities – are preparing. Sales reps are preparing to put you in an EV today. And because electric vehicles have fewer moving parts, service technicians are trained to maintain them.

“Electric vehicles are the big hot topic right now,” said Mark Paladino, general manager of Colonial Ford in Danbury, Connecticut and a 40-year veteran in the industry. He was still excited about Ford’s debut of the F-150 Lightning pickup, an all-electric version of the country’s best-selling vehicle line for four decades in a row.

Ford F-150 Lightning exceeds expectations

Paladino’s excitement is justified when you consider that in the first week of its official release on May 19, Ford.com collected 70,000 reservations for the Lightning, with $ 500 deposits for each, reported Jason Mase, Ford’s Cross Vehicle Marketing Manager. “Almost 70% of these customers were new to Ford, 90% ordered the highest equipment variant and 80% ordered the battery with extended range,” he reported. “It exceeded our expectations.”

Colonial is one of 2,300 Ford dealerships out of a total of approximately 3,000 who have volunteered for EV certification, an investment that includes training sales and service personnel, upgrading battery charging stations, and purchasing specialty equipment, parts and tools. The remaining third have so far opted against spending nearly $ 50,000 on certification. Other manufacturers charge more than $ 300,000 for the designation.

“We were all there right away,” said Paladino, adding that the family-run dealership had previously received training on several gas-electric hybrid models as well as Ford’s first electric vehicle, the Mustang Mach-E SUV, which was unveiled in December 2021. “We see electric vehicles as part of our business that is only going to get bigger, and we want to be in this world.”

Electric vehicles account for less than 3% of total new vehicle sales in the United States. Tesla has dominated the market, making up about 55% of it, according to Credit Suisse – although that’s down from 72% a few months ago, reflecting growth in the US competition.

Although electric vehicles now make up a fraction of the US auto fleet, they “will later become a significant part of a car dealer’s business,” said Chris Sutton, vice president of auto retail at research firm JD Power.

Read more about electric vehicles from CNBC Pro

A Bloomberg New Energy Finance report It is estimated that electric vehicles will account for 58% of global car sales by 2040, with China, Europe and the US all ahead.

“By providing their sales and service expertise and serving as an educational resource for customers, they create value for the automakers,” Sutton said of the dealers. Though he added that many dealerships elsewhere are in wait and see mode as EV sales have so far been concentrated in the coastal states of Michigan and Texas.

Two thirds of car consumers are interested in electric vehicles

In addition to the manufacturers’ ambitious targets, the Biden government has proposed spending nearly $ 42 billion to build nationwide electric vehicle charging infrastructure, gas prices have risen, and ExxonMobil shareholders have elected three climate-friendly directors from an activist investment group are supported blackboard. support for Biden’s infrastructure spending planHowever, to which the expenses for the EV infrastructure are tied, remains uncertain.

Car dealerships focus on the here and now. So you should be encouraged by a Cars.com survey this shows that two-thirds of Americans are interested in buying an electric vehicle despite barriers like higher sticker prices than models with internal combustion engine (ICE) and the lack of charging stations. Additionally, some EVs still qualify for a federal tax credit of $ 7,500, while states like California, New Jersey, and New York offer additional discounts of up to $ 5,000.

This data helps explain why the 17,000 members of the National Automobile Dealers Association (NADA) “can’t wait for EV products to arrive,” said NADA President and CEO Mike Stanton. “Dealers are in the business of selling cars and making customers happy, so why not sell electric vehicles?” he said, dismissing reports of lackluster enthusiasm among dealers.

Political support for climate change policies varies across the country, and over the past year Republican support has waned for the federal government making clean energy action a top priority, according to a current survey conducted by the Yale Program on Climate Change Communication and the George Mason Center for Climate Change Communication. However, there remains considerable support among Conservatives for giving tax breaks to people who buy energy-efficient vehicles or solar panels: 78% of moderate Republicans and 60% of Conservative Republicans. It was the only “climate-friendly energy policy” in the poll that received a majority support from both moderate Republican and Conservative registered voters.

EV service will definitely evolve and won’t be exactly the same. … Nobody panics about this, but we know this will change over time, so we’re working on it with our dealers.

Travis Hester, GM’s Chief Electric Vehicle Officer

A real problem for dealers, however, is the fact that EVs don’t require oil changes, transmission repairs, and other service owners of ICE vehicles routinely – and that explains and 50% of the gross profit of the traders. A AlixPartners 2019 report It is estimated that over the life of any EV they sell, dealers could see $ 1,300 less in service and parts sales.

Although 70% of the aftermarket services for ICE vehicles are handled by independent shops, franchise dealers do not want to cede electric vehicles to them, especially since consumers are familiarizing themselves with battery charging and other special features. “Electric vehicle owners may trust dealerships more to provide service than aftermarket stores when they first started their ownership,” said Sutton.

The service element is occupied by Rita Case, CEO of the Rick Case Automotive Group in Ft. Lauderdale, which represents VW, Hyundai, Honda, Audi, Mazda and other brands at its dealerships in South Florida and Atlanta. “Electric vehicles need tires, brakes, batteries, lights, and some maintenance on the steering and drivetrain,” she said. Rick Case Auto already sells and services a limited number of electric and hybrid vehicles, but “within the last six months we have stepped up electric vehicle training for our salespeople and technicians and purchased new charging equipment,” in anticipation of increasing consumer demand for new electric vehicle models, said Case.

The 2024 GMC Hummer EV SUV and the 2022 GMC Hummer EV Sport Utility Truck or SUT.

GM

GM didn’t just prep its 4,100 franchise dealerships for the refreshed Chevrolet Bolt last year – an early EV entry-level that ran away a current design – but also the upcoming electric GMC Hummer and the Cadillac Lyriq. “Service is critical to what our dealers do today and will be in the future,” said Travis Hester, GM’s chief electric vehicle officer. “The EV service will definitely evolve and won’t be exactly the same” compared to that for ICE vehicles, he said, noting that some EV parts can last for 10-15 years. “Nobody panics about it, but we know that will change over time, so we’re working on it with our dealers.”

Meanwhile, Paladino cannot keep up with Colonial Ford’s conventional service demands. “We book and service every vehicle we can,” he said. “At the moment I’m on the road for three weeks servicing your car.”

Online car sales threat

Another issue that concerns dealers is Direct Selling (D2C), the business model that has driven Tesla’s marketing of more than 385,000 electric vehicles on US roads to date. Tesla operates about 130 company-owned showrooms, but sales are done online. At the last count, 33 states allowed D2C cars to be sold, with other lawmakers debating bills that would circumvent the so-called franchise system that has legally linked dealers and manufacturers for more than a century. NADA, state dealer groups and traditional automakers have spoken out in favor of maintaining the franchise system, claiming that there is a level playing field.

On the other hand, online marketing is nothing new to automobile manufacturers and dealers. Each brand maintains a website where buyers can view models and prices, and even customize a new car. But they will ultimately be referred to a local dealer who will finalize the transaction and aim to build a loyal relationship that includes routine maintenance, service, and possibly a future sale.

The generation of pedestrian traffic – the proverbial routine of “stepping on the tires” – is the lifeblood of the dealers’ business models. So to survive, they have to adapt to consumers’ appetites to buy directly online, a routine that only broadened during the pandemic. That means manufacturers can make reservations and deposits online like Ford and other manufacturers do, and find ways to create and maintain long-term relationships with a new generation of EV drivers, such as mobile service technicians making house calls. “The dealer network has been around for a long time because they can adjust to where the market is and what customers expect and need,” said Sutton.

The auto industry is at a turning point in the transition to electric vehicles, and retailers large and small will have to turn again. “If you want to play in the EV sector, you have to embrace it now – the charging infrastructure, the parts, the equipment, the work,” said Paladino.

While Case is waiting for greater demand for electric vehicles, she is “super positive” about the future. “I sell cars and I know for sure that people will want cars.”

Playground, new Ford F-550: How native communities spend federal cash for COVID-19 reduction

(WKBN) – A playground, surveillance equipment and new vehicles — those were just a few of the purchases made by local communities with federal funding they received through the CARES Act.

The Coronavirus Aid, Relief, and Economic Security money was distributed by the U.S. Department of Treasury to communities across the U.S. for expenditures that popped up during the public health crisis.

“It was largely based on per capita allocation. There were some other factors like poverty, school districts… but the real limiting factor was what the money was used for,” said Ohio Auditor of State Keith Faber.

WKBN 27 First News began requesting documents from local communities at the beginning of February and received them through March of this year for last year’s round of CARES Act funding.

While most of the money given to communities covered the purchases of items like personal protective equipment and sanitizing spray, some communities were creative with their use of funds.

The purchase of surveillance cameras at Brookfield Park, for example, led to disagreement among trustees about whether the funds were being properly used.


Cameras for contact tracing in the park? Brookfield trustees disagree on use of funding

Trustee Ron Haun touted the purchase for the purposes of contact tracing. He said the cameras would provide another tool to the health department to help track down infection, as the park is used by multiple people and sports teams.

“If somebody gets the virus, and we have a breakout because of some events happening at our park, we’ll be able to go back and review that to inform others in case they were in contact with it and help inform our health department,” Haun said.

Trustee Dan Suttles, however, was against the purchase and questioned the legality of adding lights to the camera poles as well as using other funds for the lighting.

In the end, the cameras were installed. During their March meeting, the lighting purchase was reexamined and eventually passed with the other trustees’ approval.

Brookfield wasn’t the only community to spend the funds this way. West Farmington also noted in its purchase orders that $5,000 was spent at Hudson Communications for cameras for park surveillance of social distancing. Newton Township also spent over $8,000 on security cameras in the administration building for the purpose of assisting in contact tracing.

Kris Wilster, of the Trumbull County Health Department, said on March 31 that the health department had received no calls regarding contact tracing from any local communities. He said there hadn’t been many complaints, in general, regarding COVID-19 exposure and contact-tracing efforts.

He said if contact tracing was needed, the cameras may be helpful but that a need hadn’t come up.

Green Township also gave $8,500 to the South Range school district toward the purchase of cameras, though those cameras were used to detect masks and read temperatures. The cameras projected to a flat-screen television, which would be observed by a nurse as the students arrived, according to Fiscal Officer Randy Chismar.

Faber said he held over 40 video conferences with more than 500 elected officials in Ohio, talking about what they could and couldn’t do with CARES Act funds.

“We were very open,” Faber said. “Ask us if you think this could be a COVID or CARES Act-related expenditure and we’ll give you our best guidance. We really hope people did that to try and avoid problems later on.”

Still, he’s seen some interesting spending requests among some communities in the state.

“We had one township that asked us if they could rehab all of their parks with CARES Act money. When you push it to the logical extreme, you can make an argument that people were going to spend more time outside so you probably need to build new shelter houses and that kind of stuff with it, but that’s pretty far of an extension. I asked the question to township officials ‘Under that logic, are you going to repave all of your roads because people need to drive from their house to the park?’” Faber said.

His office recently started the auditing process and anticipates finding communities that pushed the envelope too far.

When it comes to spending on security cameras, Faber said he can see both sides of the argument. He said it was generally OK for local governments to spend their funds on public safety.

“But that doesn’t mean go out and replace all of your cruisers and or all your fire trucks necessarily. You had to be relatively judicial,” Faber said.

Some communities did purchase new vehicles with their CARES funding, many citing a need among first responders who deal with the pandemic daily.

Hanover, Vienna and Warren townships spent money on vehicles for first responders. Southington spent just over $40,000 for a pick-up truck to keep employees socially distanced. West Township spent $39,500 on a dump truck and noted a $500 downpayment on a truck in their CARES documents.

Braceville Township spent over $127,000 on vehicles to “separate employees.”

Mesopotamia purchased a new plow truck to “eliminate the sharing of vehicles” and to “promote social distancing.” The township reasoned that this would cut down on operational downtime due to sanitizing the vehicles or an employee’s sickness.

Weathersfield Township spent $333,917 on a rescue truck, pick-up truck and dump truck, according to the itemized list that was provided to WKBN. And Newton Township spent $48,585 for a 2020 Ford F550 outfitted with over $39,000 in accessories, including a dump body and plow, for the road department “to allow social distancing for employee work required COVID-19 protection.”

Warren Township also spent $5,880 on two Tasers for the police department, citing an increase in call volume during the pandemic and a need to eliminate the sharing of the devices.

Also among some of the more uncommon purchases, Leetonia spent over $46,000 on a playground, as well as $4,464 on outdoor tables for the park.

Leetonia Mayor Kevin Siembida said they focused on purchasing items that could be used by village residents for years to come.

“We didn’t need thousands of dollars in Clorox wipes,” he said, adding, “We wanted something that could be used long-term.”

Siembida said the old playground was an aging wooden one, and the new one will be easier to sanitize, as it is stainless steel. The purchase of the playground and outdoor tables was to get people out of the house during the lockdown in a socially-distanced way, he said.


Leetonia auctioning off old playground to make way for new one; new pocket park finished

Siembida said he wasn’t concerned that the purchases were inappropriate as he didn’t get any pushback from the state.

Gustavus Township also invested in its park, spending $2,274 on six new poly benches engraved with the township’s name and six new picnic tables, costing $2,214.

How local communities spent their money

The village of Leetonia also purchased a digital sign for $48,280 in order to get messages, especially those about COVID-19, out in a more effective manner.

Boardman Township also spent money on messaging. Administrator Jason Loree explained a $15,000 invoice that was sent from “All Traffic Solutions” for a “radar message sign” and related purchases as being used for vaccination-related messaging.

“The speed trailers also act as mobile messaging. As it can just be used in that capacity, we purchased two of them. It has electronic signage similar to what the county sheriff uses. We are going to be working with the mall and using them when the old Dillard’s building becomes a vaccination site to direct people [where] to go,” he explained via email in February.

Vienna Township spent $2,000 on a gazebo roof. According to Fiscal Officer Linda McCullough, this purchase was for social-distancing purposes. The churches were permitted to use it for outside services, and it was leaking. 

McCullough said, as with all of the township’s purchases, the township received the opinion of their attorney before making any CARES-related purchase as to whether it was an acceptable use of funds.

Elkrun Township spent $4,377 to remove old carpeting. Purchases were also made to upgrade a furnace and install new flooring, though those hadn’t been billed yet at the time of WKBN’s request.

Fiscal Officer Tracey Wonner said the upgrades were made to the township’s meeting area, and they were for “air freshening purposes” for better air quality in the public meeting area.

One thing that appeared to be common in the invoices is a need to shift toward a virtual work environment, with many communities purchasing items like laptops and iPads for their employees. 

Mahoning County spent over $628,000 on improving telework capabilities for public employees. That included the purchases of laptops, video conferencing systems and technology expansion and access. 

Trumbull County also made the purchase of several laptops and iPads, as well as video-conferencing software.


Construction of new vaccine building at Trumbull Co. Fairgrounds hits roadblock

Trumbull County Commissioner Frank Fuda said a primary focus for their CARES Act funds, however, was to help local businesses and food banks.

“I think we had five food banks that we gave $100,000 to,” Fuda said. “We were fortunate to receive that money… Small businesses, they’ve really been affected by this virus and what we were able to do for them is phenomenal.”

Mahoning County Commissioner Carol Rimedio-Righetti said the county spent its funds to help local businesses and people in the Valley who need it.

“It’s unbelievable what this Valley has experienced through this pandemic,” Rimedio-Righetti said.

She commended state officials as the next round of funding is in the early planning period for distribution.

“This is a start and hopefully this little bit their giving everyone will help the economy… and get somewhat back to normal,” she said.


Youngstown council approves using COVID money to pay back water dept. funds

Faber said he was glad to see many counties in the state spend their funds this way.

“I am impressed by how many local governments across Ohio chose to not just take the money for government operations, but rather to put that money back into the citizens and try to get the money where it was needed,” Faber said.

There were other qualifications for CARES Act funds as well. The money couldn’t have been budgeted in March when the pandemic was approaching.

“Otherwise, it wouldn’t be COVID-related if you’re just supplementing what you already budgeted,” Faber said.

Also, the money originally had to be completely expended by the end of 2020. The deadline has since been extended until December 2021, but it was too late for some communities.

“For a lot of local governments that rushed to get their money spent because we weren’t sure what was going to happen, that knowledge would have been much better earlier,” Faber said.

For other communities, the callback dates were pushing up against the federal extension, meaning they had to return some of their funds.

Craig Beach received a total of $47,356 but had to return $25,000 from that funding to the county due to not using it by the December deadline. West Township also returned $3,821 in unused funds, and Unity Township returned almost $46,688.

Faber explained that unused money was essentially clawed back to the counties and then back to the state. He’s waiting on some guidance from the federal government on what will happen to that unused funding, but he expects some equalization to happen during the next round of funds.

“What we’re really encouraging local governments to do is two things: where you can, get the money back to your citizens, your taxpayers in your community. Don’t just find new ways to spend government money,” he said.

Faber said that does appear to be happening locally, as most local governments appear to be fiscally-responsible with their spending.

“The second thing we’re cautioning people not to do is don’t let your CARES Act one-time funds get mixed into your operation budget, because once that happens, you start getting into a structural imbalance to where the new revenues when the new CARES Act or the one-time monies go away, you don’t have the money to pay for your ongoing stable operation,” he added.

There is a process for making sure the funding is spent appropriately, but Faber acknowledged that there are challenges.

“There is so much money coming into this, we know that there is going to be enhanced difficulty in our ability to track of all those monies. We’re seeing it in the unemployment comp system, which is just absolutely ripe with fraudulent claims,” he said.

He recommended that if people have concerns or questions, that they go to ohioauditor.gov to file a complaint or inquiry.

Ford (F) earnings Q1 2021

Jim Farley, Ford CEO, takes off his mask at the Ford Built for America event at Ford’s Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan.

Nic Antaya | Getty Images

DETROIT – Ford engine is expected to post a profit for the first quarter on Wednesday despite continued earnings Shortage of semiconductor chips This has depleted vehicle inventories and caused the company to close some of its factories.

Here’s what Wall Street expects, based on the average analyst estimates produced by Refinitiv:

  • Adjusted earnings: 21 cents per share
  • Revenue: $ 32.23 billion

While Wall Street will watch Ford’s profits, it will be more interested in a change in company policy for 2021 due to the shortage of chips.

Ford previously expected the parts problem could cut its profits by $ 1 billion to $ 2.5 billion in 2021. Without releasing any new guidance, the company said last month it would “provide an update on the financial impact of the semiconductor shortage” when it reports its first quarter results.

On a more positive note, the lower inventory levels and lack of production have resulted in higher profits per vehicle for automakers.

Wall Street is looking for any, too additional business changes from Ford CEO Jim Farley, who replaced Jim Hackett effective October 1, and any updates to the company’s electric vehicle plans.

Ford announced on Tuesday that it will produce “sometime” own batteries and battery cells. However, the company declined to discuss a timetable for this. In November, Farley said Ford was “absolutely” keen to see Tesla and follow suit General Motors in the manufacture of its own batteries for electric vehicles in the USA

Ford’s shares have risen nearly 90% since Farley became CEO, including more than 40% in 2021. The company’s market capitalization is more than $ 48 billion.

This is the latest news. Please try again.

5 Type Classes We Can Be taught from Francis Ford Coppola’s Movies

As a recipient of five Academy Awards, six Golden Globes, two Palmes d’Or, and a BAFTA, it’s safe to say that Francis Ford Coppola knows a thing or two about cinema. Coppola’s five-decade career (and count), which saw his first success in 1968 with the release of his fantasy film Finian’s Rainbow, has branched him into just about every film genre: crime, drama, horror, romance, as you call it – and Such a set of fictional settings means that his films are a key point of contact for teaching men’s clothing from a stylistic point of view.

The most obvious point of reference, of course, is The Godfather: Coppola’s prestigious film series that has taken bespoke ensembles to a whole new level thanks to Marlon Brando, Al Pacino, and Robert De Niro (more on that in a moment). In fact, cropping is Coppola’s least on-screen skill, as a look at his archives confirms that his male protagonists wear everything from evening wear and outerwear to military equipment and double denim. In short, his films tick every essential part of a masculine wardrobe by the way, and most importantly, they show how to wear clothes with serious pizazz.

That’s why we looked at the aforementioned theme of style on his screen. Here are five of his best-dressed characters and the most important items they should steal from their closets …

Marlon Brando in the godfather

Getty / husbands

Marlon Brando’s Spearpoint Shirt in The Godfather (1972)

The first is the first: the godfather. Arguably Coppola’s most famous film, the 1972 crime drama, was influenced by Mario Puzo’s 1969 novel of the same name, but Coppola brought with him a vision that revealed some of the greatest tailoring cinemas ever seen. Most obviously through the godfather himself: Vito Corleone, played by Marlon Brando. Applause for every item of clothing he wears is deserved, but praise goes especially to his crisp white shirts with spearhead collars: sharp, structured and assertive. This is the quickest way to reinforce a well-made suit, and for a touch of Corleone pizazz, make sure a patterned tie sits in the middle.

Martin Sheen on the set of the film Apocalypse Now

Getty / Broadway & Sons

Martin Sheen’s military equipment in Apocalypse Now (1979)

Style may not have been a priority for Martin Sheen in Apocalypse Now, but that doesn’t mean his clothes were bad. On the contrary. Getting thrown in the middle of a war zone meant camouflage was his primary focus, and Sheen’s nebulous way of wearing his gear resulted in an unintentionally stylish case for military clothing. The standout product has to be his forest shirt, which in a booming summer environment (hopefully this year with us) goes best with straight-lined white jeans and suede desert boots. Just make sure it’s a little loose and unbuttoned for maximum shine.

Gene Hackman on the set of The Conversation

Gene Hackman on the set of The Conversation

Getty / Burberry

Gene Hackman’s car coat in The Conversation (1974)

Coppola’s 1974 cinematic hit was The Conversation, a mystery thriller that follows surveillance agent Harry Caul (played by Gene Hackman) on the tail of a young couple through San Francisco. It’s worth a watch for Coppola’s masterful exploration of technology and paranoia, but also for Gene Hackman’s classic detective wardrobe. Leather oxfords, tailored twill pants, and button-down shirts are sealed in a beige, single-breasted car coat – the most effortless outerwear to turn to regardless of season or year. And given this timelessness, there is only one brand to buy it from (new or old): Burberry.

Robert De Niro in The Godfather

Robert De Niro in The Godfather

Getty / Edward Sexton

Robert De Niro’s extravagant tailoring in The Godfather Part II (1974)

The 1972 release of The Godfather was so successful that Coppola immediately began a sequel, and just two years later his leading gangsters were back to serve some serious scandals in style. Al Pacino was at the center of the Corleone Empire, but our cloakroom call from this one has to go to Robert De Niro for his flawless, flamboyant suits. Just look at the curved lapels in the scene above for proof. Similar to Edward Sexton, adding a touch of panache to your tailoring will add some serious post-pandemic fun (as long as it’s legal; leave the crime to Coppola’s characters).

Rob Lowe, Thomas C. Howell, Patrick Swayze and Tom Cruise on the set of The Outsiders

Getty / Mr. Porter

Anyone Americana in the Outsiders (1983)

And finally The Outsiders. Picking a single character from Coppola’s 1983 teen drama is difficult because the central group of boys (officially known as “greaser”) are united by a common approach to style – casual, trodden, and dominated by a certain texture : Denim. As a symbol of American fashion, each character hugs the fabric in the form of jeans and is combined with a variety of other classic items of clothing: from leather jackets to plaid shirts to t-shirts with a round neckline and denim vests. Brawls aside, this one is sure to change your mind about the double denim dilemma, and if you’re like us, you’ll be embracing it all summer.

Ford invests $1 billion in German electrical car plant

GEORGES GOBET | AFP | Getty Images

ford invests 1 billion US dollars in a production facility for electric vehicles in Cologne. The European branch of the automotive giant is committed to going all-in for electric vehicles in the coming years.

In plans announced Wednesday morning, Ford said its entire range of passenger cars in Europe will be “zero emissions, all-electric or plug-in hybrid” by mid-2026, with an “all-electric” offering by 2030.

By investing in Cologne, the company is updating an existing assembly plant and converting it into a facility that focuses on the production of electric vehicles.

“Our announcement today that we will rebuild our plant in Cologne, where we have been operating in Germany for 90 years, is one of the most significant that Ford has made in over a generation,” said Stuart Rowley, President of Ford of Europe Explanation.

“It underscores our commitment to Europe and a modern future, with electric vehicles at the heart of our growth strategy,” added Rowley.

The company also wants its commercial vehicle segment in Europe to be emission-free, plug-in hybrid or fully electric by 2024.

A “transformative” decade

With governments around the world announcing plans to move away from diesel and gasoline vehicles, Ford, along with several other major automakers, is looking to expand its electric offering and challenge companies like Elon Musk’s Tesla.

Jaguar Land Rover announced its Jaguar brand earlier this week would become fully electric by 2025. The company owned by Tata MotorsThe Land Rover segment will introduce six “all-electric variants” over the next five years.

Elsewhere, South Korean automaker The will launch its first dedicated electric vehicle this year while that in Germany Volkswagen Group invests around 35 billion euros in battery electric vehicles and aims to bring around 70 fully electric models onto the market by 2030.

Last month the CEO of Daimler told CNBC that the auto industry was up “in the middle of a transformation.”

“In addition to the things that we know well – to be honest, building the most coveted cars in the world – there are two technological trends on which we are doubling down: electrification and digitization,” Ola Källenius told CNBC’s Annette Weisbach.

The Stuttgart-based company has “invested billions in these new technologies,” he added, explaining that they would “drive our path to carbon-free driving.” This decade, he continued, was “transformative”.

Ford to spend $610 million to recall three million autos

A visitor walks past a Ford Escape Titanium at a car show last April.

Greg Baker | AFP | Getty Images

DETROIT – Ford engine will recall 3 million older vehicles due to possible problems with their airbag inflators, estimated to cost the automaker $ 610 million.

The company confirmed the cost in a petition filed with the Securities and Exchange Commission Thursday after the closing bell. Ford stock fell into the red during after-business trading, down about 2%. The stock rose 6.2% on Thursday to $ 11.53 per share – the share highest close since June 2018. Ford’s market capitalization is more than $ 45 billion.

In the filing, Ford said the expense will be treated as a special item as part of its earnings for the fourth quarter on February 4th. This means he has no impact on Ford’s adjusted earnings before interest and taxes or adjusted earnings per share – closely watched items from Wall Street.

The National Highway Traffic Safety Administration turned down a 2017 petition from Ford on Tuesday to avoid recalling the vehicles carrying the potentially dangerous airbags made by auto supplier Takata.

The affected vehicles range from model years 2006 to 2012. These include Ford Ranger (2007-2011), Fusion (2006-2012), Edge (2007-2010), Lincoln MKZ / Zephyr (2006-2012), MKX (2007-2010 )) and Mercury Milan (2006-2011) vehicles.

The recall will affect approximately 2.7 million vehicles in the U.S. and approximately 300,000 in Canada and other locations, the company said.

Takata airbag inflators have been a constant issue for automakers for years. The failure can cause airbag inflators to burst and potentially deadly metal objects to fly inside the vehicle. The problem has been linked to the deaths of at least 27 people worldwide and 18 in the US, according to Reuters. The more than 67 million inflators problem is the largest automobile recall in US history