November 25, 2020

Day: November 21, 2020


TRUMBULL — A pedestrian died Friday after an accident on Canoe Brook Road resulted in her sustaining “serious life-threatening injuries,” according to a news release from police.

A sedan hit 57-year-old Lisa Cimmino, of Trumbull, while she walked on the road, the release read, and she died “just after” 5 p.m. Friday.

Officials sent Cimmino to St. Vincent’s Medical Center in Bridgeport after she received some medical care at the site of the accident, according to the release. She was hit “in the area of Canoe Brook Road near Madison Avenue,” the release read, and the vehicle “immediately came to a stop a short distance away.”


The driver, a man who lives in Trumbull, stayed on site to work with officials, according to the release.



“The Trumbull and Monroe Police Departments’ Traffic Divisions are currently investigating this incident,” the release read. “Due to the conditions surrounding the accident during the preliminary investigation, no charges have been filed.”


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Boris Johnson’s pledge last week that the UK government would lead a “green industrial revolution” seemed, to those dispirited by Australia’s broken climate politics, to be a message from another planet, not another hemisphere.



a close up of a car: Photograph: Mark Kolbe/Getty Images


© Provided by The Guardian
Photograph: Mark Kolbe/Getty Images

The Conservatives promised £12bn (A$21.8bn) for a 10-point plan to combat the climate crisis, including building enough offshore windfarms to run every home in Britain, installing 600,000 efficient heat pumps a year to replace dirty old heaters, and developing new small nuclear reactors.

The headline-grabber was confirmation that the UK would accelerate the shift to electric vehicles (EVs) by banning the sale of new petrol and diesel cars by 2030, a decade earlier than previously planned. Johnson promised £2.4bn (A$4.3bn) for grants to lower the cost of EVs, install charging infrastructure across the country and boost the battery manufacturing industry.



a close up of a car: ‘Only 0.6% of new cars sold in Australia are electric. This compares with between 5% and 8% in many comparable countries and about 60% in Norway.’


© Photograph: Mark Kolbe/Getty Images
‘Only 0.6% of new cars sold in Australia are electric. This compares with between 5% and 8% in many comparable countries and about 60% in Norway.’

Rhapsodising in the Financial Times, the UK prime minister said now was the time to plan for “a green recovery” that would turn the UK into “the world’s number one centre for green technology and finance, creating the foundations for decades of economic growth”. He suggested the plan could spur massive private investment and support 250,000 jobs.

“Imagine Britain when a green industrial revolution has helped to level up the country,” he wrote. “Green and growth can go hand-in-hand. So let us meet the most enduring threat to our planet with one of the most innovative and ambitious programs of job creation we have known.”

Related: South Australia’s new tax on electric vehicles ridiculed as ‘a big tax on not polluting’

Reaction in Britain was mixed, with some critics saying it didn’t go far enough. While the government was praised for sending an important signal ahead of the country hosting a major international climate conference in Glasgow next year, the Labour opposition described it as “deeply, deeply disappointing” for its lack of ambition. Analyses found it was not enough to put the country on a path to decarbonisation, as Johnson had promised.

Both the ambition and the critical response were light years from the political debate in Australia, where the major parties argue fossil fuel industries will continue for decades and climate action remains primarily framed in terms of the short-term cost.

This contrast is not new. British emissions fell 29% while the economy grew strongly over the past decade, while in Australia they dropped 10% and only a tick more than 2% since the Coalition was elected in 2013.

But the divide is particularly stark on transport and the shift to electric vehicles.

Only 0.6% of new cars sold in Australia are electric. This compares with between 5% and 8% in many comparable countries and about 60% in Norway, a small market that went hard early in backing the technology.

There are only about

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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Press release content from Globe Newswire. The AP news staff was not involved in its creation.

November 20, 2020 GMT

OGDEN, Utah, Nov. 20, 2020 (GLOBE NEWSWIRE) — A heavy haul transportation company in Texas has chosen TAB Bank for a $3.5 million asset-based revolving credit facility.   The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company.

The company specializes in hauling large cranes and excavation equipment.

TAB Bank provides custom working capital solutions to commercial businesses across a wide range of industries. These solutions can be customized to meet the needs of companies in all stages of the business life cycle and during any economic conditions. TAB Bank does this through a variety of asset-based structures including Asset-Based Revolving Loans, Accounts Receivable Financing, Lines of Credit, and Equipment Finance. TAB’s lending options can also be combined with a full suite of business banking solutions and Treasury Management Services.

Gina Mackenzie is TAB Bank’s Vice President and Business Development Officer that brought this new deal to TAB. Gina is based in New York and has years of experience developing client relationships and structuring credit facilities in the asset-based lending arena. Gina can be reached at 973.580.0497 or at [email protected].

Contact Information:

Trevor Morris
Director of Marketing
801-624-5172
[email protected]
Twitter – @TABBank
Facebook – facebook.com/TABbank

 

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ENGLEWOOD — Most troubling about the Broncos’ loss to the Raiders wasn’t the score. It was the optics. I was at the game at Allegiant Stadium, and it didn’t feel like an AFC West rival game. And don’t blame the lack of fans. It went beyond the default 2020 explanation.

The Raiders brought the fight to the Broncos. They remained physical, aggressive, and once they sensed weakness in their opening drive of the third quarter, they punched the Broncos into quiet submission. The Broncos’ sixth defeat left lumps and bruises as they prepared for the Miami Dolphins.

Denver ranks last in giveaways (21) and interceptions, and has allowed at least 30 points in four straight games for the first time since 1968. The Broncos players remain prideful. Outside linebacker Bradley Chubb told me Thursday that “there’s no quit in this group.”

This is the type of game that explains how together a locker room really is. The Dolphins are one of the most complete teams the Broncos have played this season. They have won five straight, and are firmly in the playoff race after starting 0-7 last season.

They have provided a blueprint on how to rebuild. The first step is admit you are rebuilding as it shapes every decision. The second move is to find the right coach. Brian Flores might be the rare Patriots assistant who excels outside of Bill Belichick’s shadow. And the final decision is selecting a franchise quarterback. It’s only been a blink, but Tua Tagovailoa looks the part, attempting to become the first rookie quarterback to win his first four starts since Ben Roethlisberger in 2004.

Can the Broncos pull off the upset? My Denver7 keys:

Take a pass on passing
If the last two weeks have proven anything, it’s that the Broncos cannot win by throwing the football. No one has been worse than Drew Lock, who will start per sources, in completion percentage (55.0). The past two games, both losses, he has connected on 48 of 95 passes for 570 yards, three touchdowns and five interceptions Putting the outcome in Lock’s hands makes no sense. He’s not ready for that responsibility. He is 1-3 in his career when throwing 40 times. He averages 39 passes a game this season if you subtract his cameo against the Steelers when he strained his right rotator cuff in the first quarter.

Last year, Lock averaged 31 attempts per game. Honestly, 30 is the number the Broncos should aim for to get his season back on the rails. At least 10 of those throws should be quick slants and screens against a Miami defense that blitzes 40 percent of the time and masters in disguising coverages. Give the kid a chance and take the pressure off. Lock’s value Sunday is not being the problem. Let him be a contributor, not the focus.

Ground it up, spit it out
The Broncos have no offensive identity. It has dramatically impacted Lock’s development. He’s not capable of carrying the

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Boris Johnson’s pledge last week that the UK government would lead a “green industrial revolution” seemed, to those dispirited by Australia’s broken climate politics, to be a message from another planet, not another hemisphere.

The Conservatives promised £12bn (A$21.8bn) for a 10-point plan to combat the climate crisis, including building enough offshore windfarms to run every home in Britain, installing 600,000 efficient heat pumps a year to replace dirty old heaters, and developing new small nuclear reactors.

The headline-grabber was confirmation that the UK would accelerate the shift to electric vehicles (EVs) by banning the sale of new petrol and diesel cars by 2030, a decade earlier than previously planned. Johnson promised £2.4bn (A$4.3bn) for grants to lower the cost of EVs, install charging infrastructure across the country and boost the battery manufacturing industry.

Rhapsodising in the Financial Times, the UK prime minister said now was the time to plan for “a green recovery” that would turn the UK into “the world’s number one centre for green technology and finance, creating the foundations for decades of economic growth”. He suggested the plan could spur massive private investment and support 250,000 jobs.

“Imagine Britain when a green industrial revolution has helped to level up the country,” he wrote. “Green and growth can go hand-in-hand. So let us meet the most enduring threat to our planet with one of the most innovative and ambitious programs of job creation we have known.”

Reaction in Britain was mixed, with some critics saying it didn’t go far enough. While the government was praised for sending an important signal ahead of the country hosting a major international climate conference in Glasgow next year, the Labour opposition described it as “deeply, deeply disappointing” for its lack of ambition. Analyses found it was not enough to put the country on a path to decarbonisation, as Johnson had promised.

Both the ambition and the critical response were light years from the political debate in Australia, where the major parties argue fossil fuel industries will continue for decades and climate action remains primarily framed in terms of the short-term cost.

This contrast is not new. British emissions fell 29% while the economy grew strongly over the past decade, while in Australia they dropped 10% and only a tick more than 2% since the Coalition was elected in 2013.

But the divide is particularly stark on transport and the shift to electric vehicles.

Only 0.6% of new cars sold in Australia are electric. This compares with between 5% and 8% in many comparable countries and about 60% in Norway, a small market that went hard early in backing the technology.

There are only about 20,000 EVs on Australian roads. Federal and state governments have begun rolling out plug-in charging infrastructure but unlike other nations – such as the US, which offers a capped US$7,500 (A$10,270) tax rebate on EV purchases – there are few incentives to encourage greater uptake of the cars themselves.

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prime mover

Illustration by Diego PatiñoCar and Driver

From the November 2020 issue of Car and Driver.

While everyone waited with bated breath for an Apple car, Amazon extended its reach into the automotive landscape far and wide. Building and selling new vehicles is big business, but it’s only the tippity top of the industry iceberg. Hundreds of thousands of car businesses exist beyond assembly plants and dealerships. Here’s where Amazon’s presence is having the biggest impact.

Parts and Accessories

According to automotive marketing agency Hedges & Company, the online parts and accessories market is expected to exceed $16 billion in 2020, with $10.3 billion of purchases made through Amazon. To make online buying easier for consumers, Amazon has established partnerships with local installation outlets, and the Amazon Garage makes recommendations for replacement and aftermarket parts based on the vehicle information users store in their accounts. Amazon claims that tens of millions of consumers have already virtually parked their vehicles in that garage.

Autonomous Vehicles

In June, Amazon signed an agreement to acquire autonomous-vehicle startup Zoox for a reported $1.3 billion. Amazon says it’s committed to Zoox’s original mission to create a network of self-driving taxis, but it’s easy to imagine the technology also being deployed to deliver packages while cutting out human drivers. Even if Zoox’s dream goes unrealized, Amazon technology could materialize in self-driving cars built by competitors. Right now, for example, Toyota Research Institute is using Amazon systems to process data during its autonomous-vehicle development.

Vehicle Sales

Amazon Vehicles is the company’s initial foray into providing consumers with vehicle-purchasing information. Right now that consists primarily of new and used-car reviews that you might want to look at after you’ve exhausted the resources on CarandDriver.com. The obvious next step would be for Amazon to list inventory and connect buyers with local dealers that have the vehicle they want. In 2016, Fiat partnered with Amazon to sell cars at a discount in Italy. Due to U.S. franchise laws, that kind of thing won’t happen here anytime soon, but as more elements of car buying move online, Amazon could play a huge role in brokering sales between dealers and buyers.

Manufacturers, dealers, and intermediaries already use Amazon products behind the scenes to sell vehicles. BMW’s configurator runs on the company’s servers, and Kelley Blue Book uses Amazon Lex language bots to allow consumers to ask trade-in questions in natural language. Throw in dozens more digital initiatives and Amazon could wind up involved in most new-vehicle transactions—even if consumers aren’t aware of it.

Electric Vehicles

Why get into the complicated business of building vehicles when you’re rich enough to have someone else do the dirty work? EV startup Rivian is designing an electric cargo van for Amazon, which has already ordered 100,000 of them for delivery by 2030. That order, plus a $700 million group investment led by Amazon, makes Rivian’s expensive move to high-volume production far more likely. Amazon will also establish a charging network to support those vans. Maybe

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Two state troopers were injured Friday after a vehicle rear-ended a parked State Police cruiser, officials said.

The accident happened just before 5 p.m. on I-91 south near Exit 25 in Wethersfield.

According to the accident report, Trooper Donald Stankosky and Trooper trainee Nicolas Terry stopped to help the driver of a disabled vehicle on the left shoulder of the highway.

While they were on the scene, a separate three-car accident occurred at the same location.


Police said Rafael Jose Mendoza, 28, of East Hartford, was driving one of the vehicles.

The report said Mendoza’s 2017 Legacy was following too close to the vehicle ahead of him. As it slowed, he swerved to the left to avoid striking it.

Mendoza’s vehicle then struck the rear of the troopers’ cruiser, police said.



The impact pushed the cruiser forward into the disabled vehicle and into Trooper Terry, who had just exited the police cruiser, the accident report said.

Terry “received moderate (non-life threatening) injuries,” the report said. Trooper Stankosky and Mendoza sustained minor injuries. All three were transported to the hospital.

The driver of the disabled vehicle was not injured.


The crash remains under investigation.

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SALINAS — Several people were injured, some seriously, Thursday night when a 16-year-old suspect tried to outrun police but ended up losing control of his car and plowing through an outside dining area at a Salinas restaurant.

The youth, who was not named because he is a juvenile, was driving recklessly on South Main Street at Acacia Street in south Salinas shortly after 8 p.m. when a Salinas Police officer attempted to stop the vehicle, police allege.

The boy’s vehicle then bolted south on Main Street at the point it turns into the Monterey Salinas Highway. About a quarter mile into the pursuit at Stephanie Drive, the youth’s car rear-ended another vehicle, causing the youth to lose control of his vehicle.

Crews on Friday morning were cleaning up glass and debris after a car driven by a 16-year-old youth crashed into a group of diners. (Dennis L. Taylor/Monterey Herald) 

The suspect’s car jumped a curb, slammed through a roughly 15-foot-tall sign and continued over a grassy area where the car struck a number of people eating inside a tented dining area at Gino’s Restaurant, police said.

Their injuries ranged from minor to serious. None of the injuries appeared life threatening to the officers at the scene. The youth then fled on foot into a field just south of the restaurant where police apprehended him. He was uncooperative with police and did not provide a statement, police said.

The suspect’s vehicle was registered to the 16-year old’s father.

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In 1985, the Detroit Institute of Art hosted an exhibit called “Detroit Style: Automotive Form 1925-1950,” which the institute called a showcase “that bridges the gap between industrial design and the fine arts as it demonstrates the aesthetics and history of automotive design in a period now considered classic.” Thirty-five years later, the DIA completes the design story with a new exhibit called “Detroit Style: Car Design in the Motor City, 1950-2020,” open now and running until June 27, 2021.

By the 1950s, motor vehicles had begun their transition into commodities, not yet as pervasive and presumed as electric light and ice, but swiftly cruising that way. Even today, though, the car is a peculiar product—obliged to run as reliably as an appliance while still expressing an artful style that precludes it from being regarded as an everyday widget. Cars are expensive to produce, taxing to buy, and the buyer is forced to consider investment-grade concerns such as substantial longevity and resale value.

That knotty combination forces automakers to put massive effort into the final designs that reach the showroom floor. The DIA focuses its spotlight on this behind-the-scenes work, exposing “the remarkable artistry of the stylists and designers who define the look of American automobiles.”

Exhibit curator Ben Colman told us the displays represent four years of planning, with guidance from an advisory committee made up of designers from the Big Three, educators from the College for Creative Studies, and design historians. Colman said the 12 coupes and sedans spread through six rooms weren’t chosen only for their import, but also as answers to questions like, “What would I drive from L.A. to Palm Springs, or to a nice dinner?”

The vehicles, however, are Best Supporting Actors to the exhibit’s stars: the 35 sketches, drawings and paintings that outline the range of ideas designers explored before achieving the final products we saw hit showroom floors. William Porter’s 1959 sketch compares his idea for a “fully streamlined monocoque high-speed six-passenger sedan” to his idea for the six-passenger 1961 Pontiac Catalina hardtop. Ralph Amprim’s illustrations in 1970 for the Toronado describe experiments with detailing on the front and rear fascias. And by being able to view John Gilson Gump’s 1961 line drawing of a two-door Lincoln Continental next to Wayne Kady’s idea for a 1967 Cadillac Eldorado, it’s easy to see the origins of the long, low, minimalist bodywork that would thrive in the seventies.

There are examples of capital “F,” capital “A” Fine Art as well. William Brownlee’s 1957 Chrysler 300 Front End could hang anywhere in the DIA. In 1960, Syd Mead’s visualization of the Elwood Engel Design for a Gyroscopically Stabilized Two Wheel Car could be driven straight from the illustration board to his work on Blade Runner and Aliens. And James Sherburne’s Ford Interior Proposal, albeit just a bench seat, a steering wheel, and a door, is so suggestive of place and time that it evokes the car’s occupants, their destination, and their world.

An

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Elon Musk posing for the camera: Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Win McNamee/Getty Images


© Win McNamee/Getty Images
Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Win McNamee/Getty Images

  • Tesla’s services business could be worth more than all of its car sales by the end of the next decade, Morgan Stanley said. 
  • The bank estimates autopilot, insurance, energy, and everything else to be worth about 53% of a new street-high target price of $540 by 2030. 
  • Investors should also consider comparing the company to other services companies, like Apple, Tinder, Roku, and video game makers, the analysts said. 
  • Visit Business Insider’s homepage for more stories.

Wall Street analysts have long compared Tesla to Apple and other tech giants more easily than its Detroit competitors.

Now, Morgan Stanley’s Adam Jonas has taken one of the strongest steps yet to do just that — and is including an array of companies including Tinder, Roku, and video game makers too.

For the first time this week, the bank included Tesla’s ancillary services — like its autopilot software, home energy products, insurance, and the long-awaited Tesla network — in its valuation of the company, which now sits at a street high of $540.

“To only value Tesla on car sales alone ignores the multiple businesses embedded within the company, and ignores the long term value creation arising from monetizing Tesla’s core strengths, driven by best-in-class software and ancillary services,” Jonas said in a note to clients on Wednesday.

His 2030 “sum of the parts” valuation gives $254 per share to Tesla’s core automotive sales category, which CEO Elon Musk has said will reach 500 million units this year. That’s about 47% of his total target.

Tesla network services, comprising everything from the company’s Supercharger network to driver-assistance software, premium infotainment, and performance upgrades — gets the next largest weight in Jonas’ analysis, at $164 per share.

Ride-hailing, something Musk previously said would be in place with a million self-driving by the end of 2020, will be worth $38 per share by 2030, Jonas says.

Insurance, which Tesla launched in California last year, and a third-party supplier business, make up the final $73 per share of Jonas total target.

All together, the new weight on non-automotive revenues are another step in transformation from a product sales business to a services-heavy, recurring revenue business like Apple, to which Morgan Stanley has often compared Tesla. The iPhone maker, Jonas points out, has grown services revenue to 40% of overall profits.

But the comparisons don’t stop there. Morgan Stanley says it consulted across teams for relevant comparisons to Tinder, Roku, and even video game makers.

“Yes, consumer behavior in a dating environment is relevant,” Jonas said. “A real eye-opener for us.”

Tesla’s stock price is up 476% this year, fueled most recently in November by the company’s addition to the S&P 500 index.

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