KFC Removing a Classic Menu Item for a Test

While Yum Brands (YUM) – Get Free Report Taco Bell gets more attention for its seemingly endless menu drama, sister brand KFC actually sort of paved the way. It used gimmick products like the KFC Double Down, a sandwich that used chicken patties instead of buns, to get a lot of media attention.

In many ways, the chicken chain ushered in the current era of stunts that make people wonder whether the chain is serious. The KFC chicken-flavored lip balm is a key example of that where it was real, but it’s hard to think the chain was doing anything more than trying to get media and social media attention.


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California man under arrest for attempted murder after police say he allegedly intentionally drove off a cliff with 1 woman and 2 children in car



CNN
 — 

A 41-year-old California man was placed under arrest Tuesday on multiple charges after he allegedly intended to drive off a cliff on the Pacific Coast Highway with three passengers in the car, authorities said.

All four occupants of the Tesla survived the crash on Monday after the car plunged between 250 and 300 feet below the road it was on and into a rocky beach area known as Devil’s Slide, about 20 miles south from San Francisco, according to the California Highway Patrol.

In addition to the driver, an adult woman, a 9-year-old boy and a 4-year-old girl were in the car when the crash happened Monday morning, according to Brian Pottenger, a battalion chief with Cal Fire’s Coastside Fire Protection District.

They were all taken to a local hospital with serious injuries, the highway patrol said Tuesday. The San Mateo County Sheriff’s Office previously said in a social media post that the children were “unharmed.”

“Based on the evidence collected, investigators developed probable cause to believe this incident was an intentional act,” the state’s highway patrol said in a news release Tuesday announcing the driver’s arrest.

The driver, from Pasadena, California, was arrested for attempted murder and child endangerment, according to the arrest report. He will be formally booked into San Mateo County Jail after his hospital treatment is completed, the highway patrol added.

The relationship between the driver and passengers remained unclear Tuesday.

This image provided by the San Mateo County Sheriff's Office shows the Tesla on a rocky beach below the cliffs, an area called Devil's Slide.

The four-door, white Tesla was traveling southbound on Highway 1 just south of the Tom Lantos Tunnel between Pacifica and Montara on Monday morning when it veered off the roadway. It plunged at least 250 feet below that road, and a dramatic rescue mission ensued to ensure the occupants were taken out of the car safely.

“The damage to the vehicle would indicate that it hit, and then flipped several times,” Pottenger explained. The car came to rest on its wheels, he added.

On Tuesday, the highway patrol pointed out that Tesla’s tech savvy driving features were not involved in what caused the crash.

“There has been no determination as to what driving mode the Tesla was in; however, that does not appear to be a contributing factor in this incident,” the highway patrol said.

The California Highway Patrol is investigating the crash.

A California Highway Patrol helicopter navigated the rugged coastline to rescue two occupants of the car.

The California Highway Patrol was alerted about the crash around 10:50 a.m. local time on Monday.

Upon first-responders arrival, all four occupants were conscious, and the two children were secured into their car seats that remained intact, according to Pottenger. All were trapped inside the smashed car, officials said.

The California Highway Patrol posted dramatic video of the helicopter lowering a rescuer on a cable to the crash site while surf crashed against the rocks below.

As firefighters rappelled down the cliff to the car, other first-responders watched through binoculars.

“As we were doing that, we were able to notice movement in the front seat through the windshield,” Pottenger said. “So we knew that we had at least one person that was alive.”

Crews freed the two children and used a rope to lift them up the cliff in baskets. Later, a California Highway Patrol helicopter hoisted the two adults to safety.


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Republican attorneys general ditch association over alleged liberal bias, financial questions

Latest & Breaking News on Fox News 

Republicans are dropping out of a nonprofit organization of state attorneys general that bills itself as nonpartisan over allegations of growing liberal bias and questions over its financial management.

Documents from a National Association of Attorneys General (NAAG) executive committee meeting in early December obtained by Fox News Digital show the organization went from $24 million of total revenue to $4.5 million over the past year, which includes a drop in dues of around $600,000.

NAAG faced significant criticism from Republican attorneys general for netting tens of millions of public money off the top of consumer protection settlements that Republicans alleged were often bigger cuts than states themselves received.

These include a controversial $15 million cut from a $573 million nationwide settlement with McKinsey & Co. that resolved allegations that it improperly advised pharmaceutical companies on how to boost opioid sales.

Additionally, documents show that the group lost roughly $37 million of public money in investments over the past year.

AMERICA’S CRIME EPIDEMIC KEEPS GROWING THANKS TO RADICAL LEFTIST PROSECUTORS AND THEIR SOCIAL EXPERIMENTS

One former senior staffer to a Republican attorney general told Fox News Digital that NAAG, a group historically propped up by taxpayer-funded dues from states, exhibits financial habits akin to the “Wild West.” Failed investments, lost dues, declining revenue from settlement cases, and other spending over the past year contributed to NAAG being $53 million lighter in its bank account, the staffer said.

NAAG was at one point bringing in $3 million a year in dues from states in a “house always wins” situation in which they would “demand the money” every year in a billing statement, according to the ex-staffer.

“They were taking big cuts off of consumer cases and these were all normally take-it-or-leave-it offers where the people who really liked NAAG would come to everybody else and be like, ‘This settlement has already been negotiated and NAAG is going to get $15 million, and it’s time for you to sign the deal,'” the former staffer said.

“That just rubbed a lot of people the wrong way.”

The former Republican staffer told Fox News Digital that as many as 21 states were not paying their dues at one point amid growing discontent about the large cuts NAAG was taking from consumer protection settlements.

The document obtained by Fox News Digital contained minutes from a previous meeting where concerns about dues were addressed, including by Republican Florida AG Ashley Moody who suggested the group suspend all dues temporarily as a show of good faith to the disgruntled members and in order to ensure NAAG continued to be a “sustaining organization.”

NAAG ultimately decided to temporarily suspend dues into next year despite some objections but is still mulling how to handle dues from members going forward.

The former Republican staffer said that the “downward spiral” of NAAG started to become evident in April 2021 when Republican Alabama AG Steve Marshall announced he was leaving the organization.

“I can’t justify spending taxpayer dollars to fund an organization that seems to be going further and further left,” Marshall said in a statement at the time. “With the money we will save, I can add a young lawyer to my consumer protection division and yield a far better return on the taxpayer’s investment.”

TEXAS, 9 OTHER STATE AGS SIGN OPEN LETTER AGAINST JACKSON SUPREME COURT NOM: ‘SOFT ON CRIME,’ CHILD PORN

Several other Republican AGs have left the organization since Marshall’s departure, including Texas AG Ken Paxton, Missouri AG Eric Schmitt and Montana AG Austin Knudsen.

“We bear a solemn oath to our taxpayers and as trustees of major settlement funds,” the AGs wrote to the organization in a May 2022 letter. “The responses to our stated concerns about NAAG’s financial management and practices have fallen short of the assurances we need to continue being faithful stewards of those funds.”

In May, then-Republican Arizona AG Mark Brnovich also pulled out of the group.

That same month, eight Republican AGs sent a letter to NAAG calling out the group’s alleged partisanship and handling of public funds and income from consumer protection cases like the McKinsey opioid settlement.

“This group has been taken over by Left wing staffers—no taxpayer dollars should flow to a political group that once was non-partisan and serious,” Grover Norquist, president of Americans for Tax Reform, tweeted in May.

O.H. Skinner, executive director of Alliance for Consumers, a group that has funded ads criticizing former NAAG President Iowa Attorney General Tom Miller over the past year, told Fox News Digital that it is “not surprising” that NAAG is in “financial distress.”

“NAAG has operated with a steady stream of public money for years, requiring millions in annual dues paid by taxpayers and profiting from public consumer protection cases,” Skinner said.

“As scrutiny has rightly increased on NAAG’s financial practices and attorneys general have demanded accountability for all of this public money, those income streams have dried up. The spotlight on NAAG is a direct consequence of their own questionable behavior. It remains to be seen if the organization will right itself and find a way forward that doesn’t involve gorging on public money.”

Fox News Digital spoke with two attorneys general who left NAAG due to the organization’s politics and financial practices, including Brnovich, who said NAAG’s operating procedures are “untenable.”

CRIME EXPERTS RESPOND TO SOROS DEFENDING SUPPORT FOR PROGRESSIVE DAS AMID CRIME WAVE: ‘DISASTROUS’

“At one point NAAG was a place where Republicans and Democrats could work together but became a piggy bank for the group to finance plaintiff lawsuits that states were disagreeing with,” Brnovich said.

Brnovich said that NAAG is the “equivalent of a buggy maker while Henry Ford is perfecting the assembly line” and said the group has become “more and more partisan” and did not allow for “enough voice or input” from conservatives and Republicans in the organization.

DRUG OVERDOSE DEATHS TOPPED 106,000 IN 2021, CDC SAYS IN FINAL REPORT

Montana AG Knudsen told Fox News Digital that he sent staff to NAAG conferences when he first took office, but the reports back to him were of a group that was “extremely, extremely left-leaning” and “progressive.”

“A lot of climate change stuff, a lot of social justice stuff,” Knudsen said. “You know, it’s obviously not really in line with what I’m doing in this office and in my administration.”

Knudsen said the group offered “no counterpoint” for conservative opinions and there was “not even an inkling of any conservative content or alternative viewpoint.”

The Montana AG explained that Republican leaders were sometimes put in charge as “tokens” but had little sway in the inner workings of group leadership.

Knudsen’s decision to leave the group was not solely based on the partisanship of the group, claiming that the “straw that broke the camel’s back” was the group’s failure to provide him with access to its books following allegations of “possible mismanagement and co-mingling the moving of funds from the settlement accounts.”

MONTANA ATTORNEY GENERAL LEADS OTHER STATES IN LETTER AGAINST BIDEN’S TITLE IX RULE CHANGE

You tell us everything is fine, great,” Knudsen said. “Show us the books. Prove to me that the state of Montana funds are secure with NAAG, and they’ve just flatly refused to do that. So, that’s when I just decided, ‘You know what? That’s enough of this.'”

Those are state funds I mean, those are monies that belong to the state,” Knudsen continued. “They don’t belong to NAAG. NAAG was able to negotiate itself into the settlement, in some of these things as the trustee, but it doesn’t change the fact that those are still state funds and NAAG owes a fiduciary duty legally.”

There have been allegations that NAAG was using some settlement funds to run day-to-day operations, he said.

“That obviously would be a breach of their fiduciary obligation under the law, certainly under the laws in Montana. But I think probably 49 other states as well,” Knudsen said.

“And again, prove me wrong, please. I hope I’m wrong. But the fact is that they will not provide the accounting to us. We get the same canned one-page letter back from them every time we ask about this. ‘Nothing to see here. Everything’s fine. Trust us.’ I’m big on trust but verify. Should show me the books. Then I’ll trust you. They won’t show them to us.”

Fox News Digital asked Knudsen if there was anything NAAG could do to encourage him to bring Montana back into NAAG and resume paying dues.

“Full disclosure of the finances and a payout of our state’s funds,” Knudsen said. “Short of that, not interested.”

HOUSE COMMITTEE QUESTIONS MCKINSEY EXECUTIVE OVER OPIOID, FDA CONSULTING WORK

The former senior Republican staffer told Fox Digital that multiple state attorney generals have turned down offers to lead NAAG in the future due to the uncertainty over the group’s financial situation.

NAAG’s president, Ohio Republican Attorney General Dave Yost, told Fox News Digital that the group he was elected president of earlier this month has “work to do” to “restore trust” and said he was “sympathetic” to “some of the criticisms” from Republicans about NAAG over the years.

ARIZONA AG BRNOVICH, AFTER SCOTUS WIN ON TITLE 42, SLAMS ‘ANARCHY AND CHAOS’ AT BORDER UNDER BIDEN

Yost explained that several of the declining revenue streams, such as investments, are connected to the economy more so than any perceived liberal bias, but he said he plans on examining the group’s financial records in the coming months.

“I’m used to dealing with numbers, and we’re going to look behind the summary of the financial statements that you have and drill down,” Yost said. “And I wouldn’t be surprised to see the way the finances are presented looking a little bit different and having more detail in the future.”

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Yost suggested that Republicans who have concerns with NAAG should stick with the group in order to ensure future bipartisanship.

“NAAG has about $200 million with the current valuation of the stock market,” Yost said. “If you’re really worried about that being used for left-wing projects, the worst thing you could do as a Republican is to walk away from the table [and] leave that loaded money gun in reach of the progressives. You got to stay involved and make sure that the organization actually is bipartisan.”

 

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Social media praises ESPN’s Dan Orlovsky’s on-air prayer for Damar Hamlin: ‘Powerful, brave and genuine’

Latest & Breaking News on Fox News 

ESPN football analyst and former football player Dan Orlovsky surprised and delighted sports viewers by leading a brief prayer session live on-air Tuesday on behalf of Buffalo Bills safety Damar Hamlin.

Orlovsky initiated the moment on “NFL Live” after coverage of Hamlin’s cardiac arrest during the Monday Night Football game. Because Hamlin still remains in critical condition, Orlovsky called for additional prayers for the football player.

“I heard the Buffalo Bills organization say that we believe in prayer, and maybe this is not the right thing to do, but it’s just on my heart and I want to pray for Damar Hamlin right now. I’m going to do it out loud, I’m going to close my eyes and bow my head, and I’m just going to pray for him,” Orlovsky said.

He continued, “God, we come to you in these moments that we don’t understand, that are hard because we believe that you’re God and coming to you and praying to you has impact. We’re sad. We’re angry. We want answers, but some things are unanswerable. We just want to pray, truly come to you and pray for strength for Damar, for healing for Damar, for comfort for Damar. Be with his family to give him the peace.”

DAMAR HAMLIN CARDIAC ARREST SHOCKS MEDIA, TRANSCENDS SPORTS TO BECOME NATIONAL NEWS 

“If we didn’t believe that prayer didn’t work, we wouldn’t ask this of you, God. I believe in prayer. We believe in prayer. We lift up Damar Hamlin’s name in Your name. Amen,” he concluded.

Several sports fans and commentators commended Orlovsky’s live prayer for Hamlin on Twitter as “powerful.” 

“Dan Orlovsky didn’t just send off a ‘praying for Damar Hamlin’ tweet. He paused during NFL Live, bowed his head, and prayed. Powerful, brave, and genuine,” Outkick sportswriter Mark Harris wrote.

“This is as powerful as it gets. Praying on national TV probably wasn’t an easy thing to do… but @danorlovsky7 did exactly that. Let’s all follow his example and keep praying for Hamlin,” ClutchPoints writer Joey Mistretta agreed.

“Faith on the Field” host Rob Maaddi wrote, “Proud of you, bro. ‘For where two or three are gathered together in my name, I am there among them.’”

WHAT CAUSED BUFFALO BILLS SAFETY DAMAR HAMLIN’S ON-FIELD COLLAPSE? MEDICAL EXPERTS WEIGH IN? 

Entrepreneur Joe Pompliano tweeted, “Shoutout to Dan Orlovsky for not just saying thoughts & prayers but actually stopping NFL Live to bow his head, close his eyes, and pray for Damar Hamlin. Kudos to you, @danorlovsky7.”

“power of prayer,” “The Rally” host Brooke Fletcher commented.

“I have never seen anything like this before. Dan Orlovsky just prayed for Damar Hamlin live on @espn moments ago. See below. ‘So teach us to number our days, That we may present to You a heart of wisdom.’ -Psalm 90:12 @danorlovsky7,” professor Denny Burk remarked.

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Football players across the league have echoed calls for prayers after Hamlin’s collapse during the Buffalo Bills game. Hamlin’s teammates gathered on the field shortly after he collapsed for a group prayer.

 

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See the brands poised to crush their rivals in 2023, including Wawa, Five Below, and Whataburger

Business Insider 

Placer.ai’s most promising 2023 retailers and restaurants

Data firm Placer.ai tracks where people shop, work, and live using their mobile phones.
Their data shows the most promising retailers and restaurants for 2023.
Chains with winning strategies are growing in underserved markets and giving shoppers value.

Restaurants and retailers faced headwinds as they closed out 2022, with staffing challenges and rising inflation. 

But the chains well-positioned to succeed in 2023 are the ones that are expanding stores in underserved markets, capitalizing on shifts in consumer preferences, and doubling down on value pricing to appeal to bargain hunters, according to Placer.ai, a firm that uses mobile-phone data to track where people shop and eat. 

Chains with cult-like followings like Whataburger and Wawa are among the brands to watch in 2023,  Placer.ai said Tuesday. 

“While each company highlighted here is implementing a slightly different approach, these 10 brands have one thing in common – they all have a winning strategy for the coming year,” the firm said.

Here are the 10 brands to watch in 2023, according to Placer.ai.

Whataburger

Whataburger increased from 828 to 923 locations between 2019 to 2022, which has led to skyrocketing foot traffic, Placer.ai said. Visits to the 24-hour chain have been especially strong between 9 p.m and midnight. “The combination of Whataburger’s cult status, its new focus on expansion, and its late-night hours in the context of a shifting dining landscape all bode well for the chain heading into 2023,” Placer.ai said in its report.

Hibbett SportsA new Kansas City Hibbett Sports store in 2021.

Alabama-based Hibbett Sports, which sells footwear and clothes from brands like Nike, Adidas, and Puma, has seen year-over-year growth in nearly all months of 2022. This comes as the overall sporting goods space has experienced multiple headwinds in 2022, including rising inflation and reduced foot traffic. Hibbett’s small-market growth strategy is a winner because stores are opening in “underserved areas with little to no competition,” Placer.ai said.

Boot Barn

Boot Barn is a Western-focused shoe and apparel retailer that has been successful by opening stores in areas retail executives previously considered to be “flyover states.” Founded in Southern California in 1978, it now has 321 stores. “Boot Barn has deftly managed to reach a wide market segment, from farm workers to fashionistas alike. As the chain continues to grow into new markets, it seems poised for a successful 2023,” Placer.ai said.

Grocery Outlet

Grocery Outlet often refers to itself as the “T.J. Maxx of food” as it sells a random assortment of national and regional grocery brands at discounted prices. Placer.ai said. That strategy has led to strong foot traffic as shoppers are responding to well-priced groceries of trusted brands. “And with the brand continuing to post impressive earnings and lean into on-demand ordering, 2023 is looking bright,” Placer.ai said.

Altar’d State

Altar’d State is a rapidly growing women’s fashion retailer. The chain has grown to 128 locations across 39 states since it launched in 2009. While originally positioned as a “modern Christian retail store,” Placer.ai said the company has since evolved to a retail powerhouse in the South and Midwest as its “cozy-chic fashions” have become popular among young, career-focused women. Data shows higher-income households are also trading down to Altar’d State stores, Placer.ai said. Clothes tend to never exceed $150.

Dave & Busters and Main Event Entertainment

So-called “eatertainment” venues, where dining is blended with family-fun activities like bowling, have been around for years. Brands like Dave & Busters suffered more than most restaurants at the onset of the pandemic, as they catered to big crowds. As such, they were shut down much longer. But now these venues are on the rise thanks to “kidults” looking for a combination of dining and experience, Placer.ai said. In June 2022, Dave & Busters bought rival Main Event Entertainment, creating a strong “eatertainment” portfolio that caters to families and singles seeking unique activities, Placer.ai said.

Total Wine & More

Total Wine & More has seen its nationwide visits skyrocket, with foot traffic up by double-digits for much of 2022 compared to 2019, Placer.ai said. The company has seen traffic spike in the Midwest, where it’s continuing to open new stores in underserved markets. “The pandemic provided a boost to the chain as bars shuttered and home bars and ready-to-drink cocktails rose in popularity, and the company is continuing with expansion plans already set in 2019,” Placer.ai said.

Wawa

Wawa has a loyal following of customers dubbed Wawaholics and is often credited for having the best convenience-store food offerings by culinary publications such as Food & Wine and Saveur. Loyalty is increasing. Between July and November 2022, the share of loyal customers – customers returning to a Wawa location more than twice in a given time period – increased by 4.5% when compared to the same period in 2019, Placer.ai said. “This juxtaposition of strong loyalty, expansion plans, and food that is celebrated by foodies and regular joes alike can help position the brand for success into the new year,” Placer.ai said.

Five BelowFive Below is opening new stores.

Discount and dollar stores are thriving, including Five Below. The discounter sells a majority of items for $5 and under, with merchandise that appeals to tweens and teens, Placer.ai said. Traffic is up in the double digits compared to 2019 as the chain has grown to over 1,000 stores. Another 1,000 stores are planned by 2025. “As the company expands both its retail footprint and technological capabilities, its momentum should continue to increase into the new year,” Placer.ai said.

Bob’s Discount Furniture

The home decor and furnishings industry is seeing a decline in monthly visits compared to 2019, with one exception: Bob’s Discount Furniture. The company is embedding stores in areas with lower home values, which is helping the company to grow more effectively as home costs continue to increase, Placer.ai said. Value pricing and free coffee are giving Bob’s an edge over rivals in 2023, Placer.ai said.

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The pay gap will get worse for Gen Z women because they’re ‘so anxious,’ an NYU professor says

Business Insider 

Gen Z is facing a “national crisis,” according to social psychologist and NYU professor Jonathan Haidt.
Haidt told the Wall Street Journal that Gen Z women are going to be less successful than Gen Z men.
That’s partly because many Gen Z women are facing mental health challenges like anxiety. 

Women still aren’t earning as much as their male coworkers. As Gen Z enters the workforce, the problem could get even worse.

That’s according to social psychologist, author, and NYU professor Jonathan Haidt, who said that while the gender gaps across some fields have improved in recent decades, they “might begin to widen in the 2030s.” 

The reason: Millions of Gen Z women — many of whom Haidt says could be depressed, anxious, and less inclined to take risks — will be flooding into the workforce. 

“Gen Z women, because they’re so anxious, are going to be less successful than Gen Z men,” he said.

Haidt was interviewed by journalist Tunku Varadarajan as part of a sweeping Wall Street Journal op-ed published December 30th. The interview touched on the “national crisis” of Gen Z, with a particular focus on the harms of social media and its impact on the younger generation’s declining mental health. According to Haidt, young women in particular are facing these challenges, which could hinder their career advancement and ultimately increase the gender pay gap in the decades ahead.

With the onset of social media — especially Instagram — depression rates skyrocketed, Haidt said. At the same time, Gen Zers were spending less actual time together, with childhood experienced “largely just through the phone.” Now, Haidt said, there has “never been a generation this depressed, anxious and fragile.”

There’s a similar problem in the UK and Canada, he said, and that the US’s “supply of young people who are not anxious or depressed will heavily depend on taking people who are not born in an English-speaking country.”

US women are still paid 17% less than men. Wage gaps are, however, smaller among younger workers. In 16 cities, Gen Z and younger millennial women actually outearn their male counterparts, according to a study of 16 to 29-year-olds from the Pew Research Center.  

That’s not necessarily unusual: Richard Fry, the Pew report’s author, previously told Insider “there’s evidence that the pay gap tends to be narrowest early in women’s careers.”

However, as Pew notes, pay gaps can worsen as cohorts age. The Census Bureau finds that pay gaps got wider as women grew older, within an over $2,000 gap in monthly earnings between women and men ages 35 to 44. 

There could be some factors pushing against that historical trend and the rising mental health concerns Haidt has raised. Soaring college enrollment and a higher likelihood of completing a degree among Gen Z women could potentially chip away at pay gaps widening or appearing later in their careers. 

“Given the differences in their current labor market position, as well as their education levels relative to men, it may be indeed a different story for this group of young women,” Fry previously said. 

At the same time, men without college degrees are dropping out of the workforce, in part because they see their lower-paying jobs as a blow to social status. According to a paper from the Federal Reserve Bank of Boston, many younger men facing down limited wage growth choose having no job over a low-paying one, which they see as a risk to marriage prospects and their social standing.

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2023 will make or break Tesla wannabes like Rivian and Lucid. Here’s what they need to do if they want to survive.

Business Insider 

Startups like Rivian are running out of room to make excuses for production woes.

Electric vehicle startups have a big year ahead after a challenging 2022.
Investors are expected to lose patience with ‘stupid mistakes.’
Startups have to make good this year on promises that won them lofty valuations.

After a challenging and humbling 2022 riddled with supply chain constraints, production hurdles, stock drops, and talent turnover, EV startups Rivian, Lucid, and more are staring down some big deadlines for success in 2023.

After these startups made promises that won them several-billion-dollar valuations, investors may lose patience with their struggles — especially as legacy players like Ford and GM crowd into the market.

“Excuses around the production of new vehicles will grow tired for startups in the coming year,” said Sam Fiorani, vice president of global vehicle forecasting for AutoForecast Solutions. 

“As the pressure on the supply chain eases, investors can point to a General Motors and say, ‘They’re building without a problem, why can’t you?'”  

A brutish 2022

Essentially all of today’s budding startups have blamed a majority of their troubles on broader industry disruptions in 2022.

Some of these problems included getting enough supply or the right supply for flagship vehicles, exacerbated by less-established supplier relationships for startups just getting their assembly factories on line. 

On top of that, the pending battery crisis also worried the younger carmakers even more than it did companies such as Ford, GM, Volkswagen and more. 

And the turn of the calendar won’t wipe away the problems. During quarterly earnings calls, executives at Rivian and Lucid cautioned investors of more trouble heading into 2023 as they raced to ramp up production and their logistics processes in hand. 

Rivian, for example, warned of a “significant discrepancy” in the number of vehicles it produced in Q4 versus deliveries as it grapples with changes to the production schedule, a shift to using shipping vehicles by rain instead of by truck, and an expected slowdown in demand during the holiday season.

Others fought just to start production. Both Canoo and Fisker began building vehicles on November 17, while Faraday continued to struggle and was not able to start its assembly line. 

Accordingly, stock prices have been sinking from blockbuster IPO and SPAC highs, with many EV startups’ shares down as much as 80% from earlier last year. As investors begin to shy away, a cash crunch is materializing. Reserves are shrinking as startups burn cash on the pricey proposition of manufacturing expansions. 

Ways to find success this year

There are some bright spots for startups this year, experts say — if these companies can nail down production and conserve cash.

Rivian reported Tuesday it fell a few hundred vehicles short of its goal to build 25,000 electric cars in 2022. The startup built 10,020 vehicles in the fourth quarter to finish the year at 24,337 for the full year. Lucid, which has not yet released its Q4 deliveries, dropped its production target twice and churned out 3,687 by that period — while only delivering about 66% of those.

If the startups want to succeed and regain investor faith, they have to get closer to meeting their numbers in 2023.

On the cash front, Morgan Stanley’s Adam Jonas said in a December 28 note that 2023 will be a “reset year” for the EV space — so long as they have the money to do so.

“We believe players that are self-funded (non-reliant on external capital funding) with demonstrated scale and cost leadership throughout the value chain,” Jonas wrote, “can be relative winners.”

Finally, investor patience for returns is going to wear thin this year as the economic landscape becomes tougher and interest rates make investing a more expensive proposition, said Fiorani.

“Investors are going to expect more for their money,” he said. “Making sure there aren’t any stupid errors going forward will be the bare minimum.”

Not everyone, however, is confident the startups can do this.

“After an extremely difficult year of equity performance for upstart EV manufacturers,” Garrett Nelson, senior equity analyst at CFRA Research, said in a late December note, “we see little reason for optimism when looking ahead to 2023.”

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Ukraine war live updates: Russia blames use of mobile phones for deadly Makiivka attack; Ukraine preparing for new offensives

US Top News and Analysis 

Russia has been left reeling as the death toll rises following a Ukrainian strike on one of its military units in Makiivka, a city in the partially Russian-occupied eastern Donetsk region in eastern Ukraine.

Russia’s Defense Ministry said Tuesday night that the number of servicemen who died in the attack, which took place on New Year’s Eve, had risen to 89. It blamed the use of mobile phones for the strike, saying that had allowed Ukraine to locate and strike its personnel.

There has been no reprieve in the war at the start of 2023, with relentless strikes on Ukraine since New Year’s Eve, in what President Volodymyr Zelenskyy said was an attempt by Moscow to “exhaust” his country with prolonged offensives. The president said Tuesday night that Ukraine is prepared for new offensives by Russian forces, saying they would “throw everything they have left” at the war.

Infrastructure, apartments and kindergarten damaged in Zaporizhzhia attack, officials say

A missile attack on the city of Zaporizhzhia in southern Ukraine has targeted an infrastructure facility, destroying nearby warehouses and damaging apartment buildings, according to Ukrainian officials.

Kyrylo Tymoshenko, deputy head of the Office of the President of Ukraine, said on Telegram Wednesday that one person had been injured in the rocket attack on the city. He said Russian forces had used S-300 missiles, according to a Google translation of his comments. Tymoshenko’s post contained images and video footage purportedly showing the destruction following the attack.

An Ukrainian soldier returns to the front line after taking a rest in an underground shelter in the Zaporizhzhia region of Ukraine.
Nurphoto | Nurphoto | Getty Images

Anatoliy Kurtev, the acting mayor of Zaporizhzhia, urged residents of the city to take shelter, saying on Telegram earlier today that Russian forces were “on the defensive” in the Zaporizhzhia area. He said eight high-rise buildings had been damaged during the attack.

“According to preliminary information, 8 high-rise buildings were damaged in one of the districts of the city … Their windows were blown out and their balconies were destroyed. In addition, the kindergarten building was damaged. There, too, the windows were broken and the roof was partially damaged,” he said on Telegram.

Further information about the attack is still being established, the officials said. CNBC was unable to immediately verify the reports.

— Holly Ellyatt

Ammunition likely being stored near Makiivka troop accommodation, UK says

Britain’s Ministry of Defense said on Wednesday it’s likely that ammunition is being stored near a Russian military complex that was destroyed in a Ukrainian attack on New Year’s Eve, highlighting unsafe and unprofessional practices by the Russian army.

Russia’s Defense Ministry said 89 Russian servicemen had died in the attack on the building that was being used as a college and temporary accommodation for newly conscripted soldiers. It’s a rare admission of multiple losses by Russia, which blamed the attack on personnel using mobile phones, saying this had enabled Ukraine to target the location.

A Russian soldier who was part of a 300,000-strong mobilization program launched by Russian President Vladimir Putin, seen here in September 2022.
Anadolu Agency | Anadolu Agency | Getty Images

Britain’s Ministry of Defense remarked on Twitter that Ukraine had completely destroyed a school building in Makiivka in Donetsk “which Russia had almost certainly taken over for military use.”

“Given the extent of the damage, there is a realistic possibility that ammunition was being stored near to troop accommodation, which detonated during the strike creating secondary explosions.”

It noted that the building was only 7.7 miles from the Avdiivka section of front line, “one of the most intensely contested areas of the conflict.”

“The Russian military has a record of unsafe ammunition storage from well before the current war, but this incident highlights how unprofessional practices contribute to Russia’s high casualty rate,” U.K.’s defense ministry added.

— Holly Ellyatt

Russia ready to ‘throw everything they have left’ at the war, Zelenskyy says

President of Ukraine Volodymyr Zelenskyy visits the Kharkiv region for the first time since Russia started attacks against his country, on May 29, 2022.
Ukrainian Presidency | Anadolu Agency | Getty Images

Ukraine’s President Volodymyr Zelenskyy said Tuesday night that Kyiv is prepared for renewed offensives and mobilization by Russia.

Zelenskyy said on Telegram that he had spoken with his counterparts in Canada, the Netherlands, U.K. and Norway on Tuesday, with the conversation focusing on “what Ukraine immediately needs most right now — on the eve of those new mobilization processes being prepared by the terrorist state.”

A burned civilian vehicle allegedly shot by Russian occupying forces on Jan. 3, 2023 in Oleksandrivka, Ukraine.
Pierre Crom | Getty Images News | Getty Images

“Right now is the moment when, together with our partners, we should strengthen our defense. We have no doubt that the present masters of Russia will throw everything they have left, and all they can muster, into trying to turn the tide of the war, and at least delay their defeat. We have to disrupt this Russian scenario. We are preparing for it,” Zelenskyy said, adding that “any attempt at their new offensive must fail.”

— Holly Ellyatt

Russia blames use of mobile phones for deadly Makiivka attack

Russia has been left reeling as the death toll rises following a Ukrainian strike on newly conscripted soldiers in Makiivka, a town in the partially Russian-occupied eastern Donetsk region in east Ukraine.

Russia’s Defense Ministry said Tuesday night that the death toll from the attack, which took place on New Year’s Eve, had risen to 89, according to reports by Russian state news agencies.

It had previously said 63 soldiers had died in the attack, which struck a college for conscripts in Makiivka, in a rare admission of multiple losses.

It blamed the unauthorized use of mobile phones for the strike, saying their use had allowed Ukraine to locate and strike its personnel.

“This factor allowed the enemy to locate and determine the coordinates of the location of military personnel for a missile strike,” the ministry said in a statement, reported by RIA Novosti.

Mourners gather to lay flowers in memory of Russian soldiers who were killed in a Ukrainian strike on a college for newly conscripted Russian soldiers in the occupied city of Makiivka in eastern Ukraine on New Year’s Eve.
Arden Arkman | Afp | Getty Images

The ministry said Ukraine had struck the building in Makiivka using missiles from a HIMARS rocket system and claimed that Russian forces had intercepted four of six rockets. It claimed it had destroyed the HIMARS rocket system from which the attack was carried out. CNBC was unable to verify the defense ministry’s claims.

The attack has caused consternation in Russia, with mourners gathering in Samara, the region where the majority of the mobilized soldiers reportedly came from.

— Holly Ellyatt

Moscow’s invasion is likely to inflict long-term economic decline on Russia

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Ukraine war: Moscow’s invasion likely to inflict economic decline on Russia

Moscow thought it would emerge from the Ukraine invasion with a bigger role on the global stage. But it’s growing more isolated and looks likely to face a long-term economic decline. CNBC’s Ted Kemp reports.

Russians angry at commanders over Ukrainian strike that killed scores

Soldiers of the 59th brigade of the Ukrainian Armed Forces fire grad missiles on Russian positions in Russia-occupied Donbas region on December 30, 2022 in Donetsk, Ukraine. Russia has tried to expand its control there since it invaded Ukraine.
Pierre Crom | Getty Images News | Getty Images

Russian nationalists and some lawmakers have demanded punishment for commanders they accused of ignoring dangers as anger grew over the killing of dozens of Russian soldiers in one of the deadliest strikes of the Ukraine conflict.

In a rare disclosure, Russia’s defense ministry said 63 soldiers were killed in the Ukrainian strike on New Year’s Eve that destroyed a temporary barracks in a vocational college in Makiivka, twin city of the Russian-occupied regional capital of Donetsk in eastern Ukraine.

Russian critics said the soldiers were being housed alongside an ammunition dump at the site, which the Russian defense ministry said was hit by four rockets fired from U.S.-made HIMARS launchers.

TV footage showed a huge building reduced to rubble as cranes and bulldozers picked through concrete debris lying several feet deep.

Ukraine and some Russian nationalist bloggers put the Makiivka death toll in the hundreds, though pro-Russian officials say those estimates are exaggerated.

Rallies to commemorate the dead were held in several Russian cities, including Samara, where some came from, RIA Novosti news agency reported. Mourners laid flowers in the center of Samara.

“I haven’t slept for three days, Samara hasn’t slept. We are constantly in touch with the wives of our guys. It’s very hard and scary. But we can’t be broken. Grief unites … We will not forgive, and, definitely, victory will be ours,” RIA quoted Yekaterina Kolotovkina, a representative of a women’s council at an army unit, as telling one of the rallies.

— Reuters

Russia, shaken by Ukrainian strike, could step up drone use

Russian emergency workers remove the rubble of vocational school 19 destroyed by shelling in Makeevka, Donetsk People’s Republic, Russia. The armed forces of Ukraine attacked the vocational school building in Makeyevka of the Donetsk People’s Republic from the HIMARS MLRS on December 31 to January 1.
Sputnik via AP

Emergency crews sifted through the rubble of a building struck by Ukrainian rockets, killing at least 63 Russian soldiers barracked there, in the latest blow to the Kremlin’s war strategy as Ukraine says Moscow’s tactics could be shifting.

An Associated Press video of the scene in Makiivka, a town in the partially Russian-occupied eastern Donetsk region, showed five cranes and emergency workers removing big chunks of concrete under a clear blue sky.

In the attack, which apparently happened last weekend, Ukrainian forces fired rockets from a U.S.-provided HIMARS multiple launch system, according to a Russian Defense Ministry statement.

It was one of the deadliest attacks on the Kremlin’s forces since the war began more than 10 months ago and an embarrassment that stirred renewed criticism inside Russia of the way the war is being conducted.

The Russian statement Monday about the attack provided few other details. Other, unconfirmed reports put the death toll much higher.

The Strategic Communications Directorate of Ukraine’s armed forces claimed Sunday that around 400 mobilized Russian soldiers were killed in a vocational school building in Makiivka and about 300 more were wounded. That claim couldn’t be independently verified. The Russian statement said the strike occurred “in the area of Makiivka” and didn’t mention the vocational school.

— Reuters

Russia aims to ‘exhaust’ Ukraine with continued attacks, Zelenskyy says

“The morning is difficult. We are dealing with terrorists. Dozens of missiles, Iranian ‘Shahids’,” Zelenskyy wrote on his Telegram official account, referencing the Iranian-made Shahid drones increasingly used by Russian forces.
Ukrinform | Future Publishing | Getty Images

Russia aims to “exhaust” Ukraine with a prolonged stream of attacks across the country, Ukrainian President Volodymyr Zelenskyy said in his nightly address.

“We must ensure – and we will do everything for this – that this goal of terrorists fails like all the others,” he said. “Now is the time when everyone involved in the protection of the sky should be especially attentive.”

Russian strikes on Ukrainian cities and infrastructure have ramped up of late, marking three consecutive nights of bombardment in the latest stream of attacks that began on New Year’s Eve. The strikes target Ukraine’s energy facilities in particular, leaving millions of people without heating and power amid the bitter winter cold.

Russian forces are increasingly leaning on deadly Iranian-made Shahed drones, which have wrought havoc on Ukraine’s cities. Zelenskyy said that Ukrainian air defenses shot down more than 80 of such drones in the first days of January.

— Natasha Turak

Read CNBC’s previous live coverage here:

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Idaho killings suspect waives extradition from Pennsylvania



CNN
 — 

The suspect in the November slaying of four University of Idaho students waived extradition from his home state of Pennsylvania to face murder charges in the state of Idaho.

Bryan Kohberger arrived at Pennsylvania’s Monroe County Courthouse Tuesday by prison transport van, cuffed and in a prison jumpsuit, and was escorted to the back of the courthouse by armed law enforcement.

Kohberger answered “no” when the judge asked if he had any mental health issues that would impede his ability to waive his extradition, and Kohberger’s father, also in the courtroom, shook his head “no.” The defendant signed the waiver at the defense table with shackles still around his wrist.

Judge Worthington ordered Kohberger must be handed over to the custody of Latah County District Attorney’s Office within 10 days.

Kohberger has invoked his right to be silent going forward, his state-appointed extradition attorney, Jason LaBar, said.

Tuesday’s move was expected after the attorney earlier indicated his client planned to waive extradition from his home state and called the hearing a “formality proceeding.”

Bryan Kohberger is seen in court on January 3, 2023.

All the commonwealth needed to prove is that his client resembles or is the person on the arrest warrant and that he was in the area at the time of the crimes, Monroe County Chief Public Defender LaBar told CNN’s Jean Casarez.

Kohberger did not answer reporters’ questions as he was escorted in. He made eye contact with and nodded to his family seated in the first row of the courtroom behind the defense table as officers brought him in.

Kohberger’s mother and father sat on either side of his sisters, accompanied by a representative from the public defender’s office, and when the judge told Kohberger he faces charges of murder when he returns to Idaho, his mother collapsed into his sister’s arms, both sobbing openly.

Arrangements are currently being made to transfer Kohberger to Idaho, according to state police, but no timeline has been announced.

“My heart goes out to the families of the victims, their friends, the community of Moscow and the University of Idaho,” Pennsylvania State Police Commissioner Robert Evanchick said at a news conference. “No words can heal the pain associated with the loss of a child. Their young lives were ended far too soon.”

Bryan Kohberger is escorted to an extradition hearing at the Monroe County Courthouse in Stroudsburg, Pennsylvania, Tuesday, January 3, 2023.

The Monroe County Correctional Facility warden informed officials that Kohberger has been a “model prisoner” who has not caused any problems during his time in detention, according to a source familiar with Kohberger’s status at the facility.

Kohberger, considered a maximum status prisoner, is being held in a cell monitored by an officer at all times. 

He has been “quiet” and “followed directions,” according to the source. 

Kohberger was arrested Friday in Pennsylvania, almost seven weeks after Kaylee Goncalves, 21; Madison Mogen, 21; Xana Kernodle, 20; and Ethan Chapin, 20, were found dead November 13 in an off-campus home in Moscow, Idaho.

Kohberger was “shocked a little bit,” LaBar told CNN a day after his client was arrested. Kohberger is presumed innocent until proven guilty, LaBar added in a statement. He “believes he’s going to be exonerated.” LaBar said in an interview on NBC’s “Today” show Tuesday.

Kohberger has been “very easy to talk to,” is “in a calm demeanor” and understands the proceedings, including what to expect concerning his transport to Idaho and what to expect when he gets there, LaBar said.

Vehicles belonging to the University of Idaho victims were towed away on November 29, 2022, in Moscow, Idaho.

The 28-year-old suspect last month finished his first semester as a PhD student in the criminal justice program at Washington State University’s campus in Pullman, about a 15-minute drive west of Moscow.

He drove home to Pennsylvania for the holidays, accompanied by his father, LaBar told CNN on Saturday. The two arrived in the commonwealth around December 17.

A white Hyundai Elantra authorities had been looking for in connection with the killings was found at Kohberger’s parents’ house, LaBar confirmed.

Driving through Indiana, Kohberger was stopped twice by law enforcement on December 15 for following another vehicle too closely in the Elantra, authorities said Tuesday. The second stop was by a state trooper, who let Kohberger go with a warning.

“At the time of this stop, there was no information available on a suspect for the crime in Idaho, to include identifying information or any specific information related to the license plate state or number of the white Hyundai Elantra which was being reported in the media to have been seen in or around where the crime occurred,” Indiana State Police said. The Hancock County Sheriff’s Office, which had stopped him the first time, also said this in their release.

Bryan Kohberger was stopped twice by law enforcement while driving a white Hyundai Elantra on December 15, authorities said.

Investigators focused on Kohberger as a suspect after tracing ownership of the Elantra, which had been seen in the area of the killings, to him, according to two law enforcement sources briefed on the investigation. Also, his DNA was matched to genetic material recovered at the home where the students were slain, the two sources said.

An FBI surveillance team tracked Kohberger for four days before his arrest while law enforcement worked with prosecutors to develop enough probable cause to get a warrant, the two law enforcement sources said.

Other than the DNA and the car, details such as whether Kohberger knew the victims – or a possible motive in the slayings – are not publicly known. The probable-cause affidavit, which would contain information to justify the suspect’s arrest, remains sealed until he appears in an Idaho court.

Michael Mancuso, Monroe County’s first assistant district attorney, on Tuesday posited that Kohberger waived extradition because he wants to see what is in the affidavit.

“I definitely believe that one of the main reasons the defendant chose to waive extradition and hurry his return back to Idaho was the need to know what was in those documents,” Mancuso said at a news conference.

With those details still unknown, much public interest has focused on Kohberger’s criminal justice studies.

He graduated with a bachelor’s degree in 2020 and this year completed his Master of Arts in criminal justice at DeSales University in Pennsylvania, according to a spokesperson for the university.

In a post removed from Reddit after his arrest was announced, a student investigator associated with a DeSales University study named Bryan Kohberger sought participants for a research project “to understand how emotions and psychological traits influence decision-making when committing a crime.”

“In particular, this study seeks to understand the story behind your most recent criminal offense, with an emphasis on your thoughts and feelings throughout your experience,” the post read.

Moscow Police Department Chief James Fry said after the arrest that the investigation of the complex, extensive case was not over.

Investigators are still searching for pieces of evidence, Fry said, including the weapon used, believed to be a fixed-blade knife.

“We developed a clear picture over time,” he said, “(but) be assured that the work is not done. This is just started.”

Mancuso said his office stands ready to assist Idaho investigators.

“I would hold our office at the disposal of the Idaho authorities to help facilitate a complete background investigation into the defendant, both the activities prior to the murders occurring within the commonwealth of Pennsylvania and his activities after the murders in Pennsylvania,” Mancuso said Tuesday.

When pressed as to what Pennsylvania authorities will look at specifically, Mancuso added, “In any case of this nature … you want to look at any evidence of a possible motive, you want to look at any evidence of a pattern, of modus operandi or method, you want to get into the subject’s character and mental state to the best you can.”

Kohberger is being held without bail in Pennsylvania, Latah County Prosecutor Bill Thompson said Friday. Once Kohberger is in Idaho, he is expected to make an initial appearance before a magistrate, and further hearings will be scheduled.

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