The debt crisis in the US is similar to global warming - it is an incremental but enormous phenomenon that could trigger disaster at any given point.
The success of the IPO came despite Lyft’s steep loses, criticism of its dual-class share structure and some concerns over its strategy for autonomous driving, for fear of missing out on the company’s strong revenue growth.“In a good market, people look beyond things.They don’t see the problems as much,” said Brian Hamilton, co-founder of data firm Sageworks, speaking before the pricing.The ride-hailing industry is expected to grow rapidly in the coming years, as young millennials in big cities choose not to buy their own car.Yet the sector is fraught with questions about the future of automated driving, regulatory pushback and legal challenges over drivers’ pay and benefits.It paves the way for other Silicon Valley companies seeking to float in the stock market this year, including Pinterest, Slack Technologies and Postmates.
General Motors Co. GM -2.18 % s luxury division has about three times as many U.S. stores as German luxury auto makers or Toyota Motor Co. TM -0.31 % s Lexus, but sells only about half the volume.In a somewhat unprecedented way of moving metal, Cadillac President Johan de Nysschen will this month begin looking for commitments from some store owners willing to set up showrooms where buyers can get a car serviced or learn about products via virtual reality headsets without getting behind the wheel.Virtual stores are a part of Project Pinnacle, an extensive retail-strategy overhaul by Mr. de Nysschen first introduced to dealers a few months ago in closed-door meetings, dealers said.Regarding virtual dealerships, a GM spokesman said Cadillac is working on the concept and researching technologies.One long-held belief among dealers he has come to embrace is that Cadillac s dealer count has been considered a valuable asset because many of these franchises are attached to larger-volume Chevrolet stores that are closer to much of the population than other luxury stores.Brian Hamilton, principal at Midway Auto Dealerships in Kearney, Neb., said even a limited amount of inventory is necessary and doubts many dealers will want to entirely ditch the traditional selling model.
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