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Investors said the Thursday night presentation was short on details

By Mark Huffman Consumer News: Tesla robotaxi fails to impress of ConsumerAffairs
October 11, 2024

Photo

Tesla CEO Elon Musk introduced his companys electric vehicle (EV) robotaxi, the Cybercab Thursday night to an audience of investors. Despite the anticipation or maybe because of it many went away unimpressed.

The verdict appeared in early futures trading Friday morning when Tesla shares sank by 6%. That amounts to about a $40 billion decline in Teslas stock value.

Investors we spoke to at the event thought the event was light of real numbers and timelines, Tom Narayan, an analyst at Royal Bank of Canada, told the Wall Street Journal. These typically come at Tesla events. This one seemed focused on branding and marketing Teslas vision.

Musk set up the event as a glimpse of the future, focusing Tesla on autonomous driving. The sleek Cybercab seats two people and has no steering wheel, pedals or other controls. Musk said the vehicle would enter production in 2026 and sell at a starting price of around $30,000.

To do that, the Journal suggests Musk faces two main technical challenges. Hell have to reduce the cost of producing EVs and make them reliable enough to get a green light from federal and state safety regulators.

Making an entrance

Musk arrived at the event in a Cybercab prototype, making an entrance that didnt lack for flash and dazzle, as the video below shows.

Tesla continues to work on full autonomous driving. Currently, its driver-automation software requires a human backup driver. During the presentation, Musk said an unsupervised version of an autonomous car would appear on California and Texas roads in 2025.

As exciting as the robotaxi concept is, investors who are expecting it to alter Tesla's financials in the short term will be disappointed, iSeeCars Executive Analyst Karl Brauer predicted before the presentation.

Brauer says Musk is aware that his companys future isnt based on electric vehicle sales and profit, especially with the ever-growing, profit-slashing threat of China's EV cost structure. In other words, Musk needs a game-changer.



Photo Credit: Consumer Affairs News Department Images


Posted: 2024-10-11 13:20:42

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More News From This Category

Consumer News: Spirit Airlines is cutting flights amid industry pressure

Thu, 18 Sep 2025 16:07:08 +0000

Here's how it could affect your travel plans

By Mark Huffman of ConsumerAffairs
September 18, 2025
  • Spirit Airlines is scaling back its flight schedule as it grapples with financial and operational challenges.

  • Travelers may face fewer route options and more crowded planes, especially on popular leisure routes.

  • The move raises questions about ultra-low-cost carriers ability to sustain aggressive growth strategies.


Spirit Airlines, the Florida-based ultra-low-cost carrier known for its bare-bones fares, announced it will reduce the number of flights in its network. The decision comes as the airline continues to navigate weaker demand on some routes, rising operating costs, and ongoing aircraft availability issues.

In a memo to employees, viewed by CNBC, company CEO Dave Davis said that capacity would be reduced by 25%, beginning in November.

The cuts are expected to hit both domestic and international schedules, though Spirit has not released a complete list of affected routes. Travelers planning flights later this year may notice fewer daily departures, particularly from Spirits largest hubs in Florida, Las Vegas, and key Latin American destinations.

The airline has faced mounting headwinds in recent months. Rising fuel costs and aircraft groundings due to engine inspections have strained operations. In addition, consumer demand has softened on certain leisure-heavy routes, making it difficult to fill planes without steep fare discounts.

Spirit has built its business model around offering rock-bottom base fares and charging extra for everything from seat selection to carry-on bags. While this approach has attracted price-sensitive travelers, analysts say it leaves little room to absorb shocks like maintenance problems or weaker demand.

What travelers should expect

Passengers booked on upcoming Spirit flights may not see immediate changes, but the airline has warned that schedule adjustments could affect travel plans later in the year. Industry experts say customers should double-check itineraries, as flights could be rescheduled or canceled altogether.

For travelers who rely on Spirit for budget-friendly access to vacation destinations, the reduction in service may mean fewer choices and higher prices as supply tightens. Competing carriers could also pull back on aggressive fare matching if Spirit reduces its presence on certain routes.

Spirits move highlights the broader challenges facing ultra-low-cost carriers in the U.S. market. Rapid growth, tight margins, and a reliance on discretionary travel have made these airlines especially vulnerable to swings in costs and demand.

While Spirit is not the only airline scaling back in 2025, its retrenchment underscores the limits of the ultra-low-cost model in an uncertain travel environment. Whether these cuts are temporary adjustments or signal a deeper shift in strategy remains to be seen.

What do do

Consumer tips: How to protect your travel plans

  • Monitor your itinerary closely: If youre flying with Spirit in the coming months, keep an eye on your email and the airlines app for any schedule changes or cancellations.

  • Book directly with the airline: Third-party booking sites can make changes harder to manage. Buying directly from Spirit may give you more flexibility if flights shift.

  • Know your rights: If your flight is canceled, Spirit must offer either a refund or rebooking on another available flight. Be prepared to request a refund if rebooking doesnt work for you.

  • Have a backup plan: Consider alternate airports or carriers in case your original itinerary falls through. Low-cost carriers like Frontier or major airlines may provide alternative options.

  • Travel insurance can help: For longer trips or those with multiple connections, insurance may provide reimbursement for unexpected expenses caused by cancellations or delays.

  • Pack light, plan ahead: If you do stick with Spirit, remember its strict baggage fees. Traveling with only a personal item not only saves money but makes it easier to rebook if necessary.


Read More ...


Consumer News: Here’s more evidence the housing market is cooling down

Thu, 18 Sep 2025 13:07:07 +0000

An industry report suggests buyers gained temporary leverage in August

By Mark Huffman of ConsumerAffairs
September 18, 2025
  • Sellers pulled back in August, hitting record-low new listings for the month, according to Zillow

  • Buyers still active face more choices and slightly better bargaining power, but leverage is starting to fade

  • Regional divides are widening, with the South shifting toward buyers while the Northeast remains hot for sellers



Home sellers took a noticeable step back from the housing market in August, according to Zillows latest market report, as affordability challenges continued to limit buyer demand.

New listings dropped 7.3% month-over-month the steepest August decline on record leaving overall inventory down 1.3% from its July peak. For buyers still searching, the pullback has created a short-lived window of opportunity.

Options are on the shelves, even if theyre not all fresh, said Zillow Senior Economist Kara Ng. Sidelined buyers should revisit their budget; mortgage rates are lower than recent years, and in some markets, sellers are more willing to deal. But dont expect this window of opportunity to stay open indefinitely.

High home prices and affordability concerns have sidelined many would-be buyers. That shift has left the market more balanced than at any point since 2018.

More time on the market

Homes are taking longer to sell averaging 27 days in August, a week longer than last year and price growth has slowed to a standstill. Zillows Home Value Index shows no year-over-year appreciation nationwide, one of the weakest readings since 2018.

Yet even as activity cooled, late-summer competition ticked slightly upward, signaling the balance may be short-lived. Buyers who can still act may want to do so soon before leverage shifts back toward sellers.

The record-low number of August listings reflects a broader trend of homeowners choosing to sit tight. Many are locked into historically low mortgage rates and remain comfortable holding onto properties that have gained 46.5% in value since February 2020.

Zillows survey of recent sellers found that 37% listed their homes after a job change. With the labor market softening, fewer forced sales may further limit inventory in the months ahead.

Regional contrasts: South vs. Northeast

While national averages show a balanced market, local conditions vary widely.

  • Buyer-friendly markets: The South has seen the most dramatic shift, with former boomtowns like Miami, Tampa, Jacksonville, and Austin now firmly favoring buyers. Inventory in Seattle has surged 22% year-over-year, tipping the market toward buyers there as well.

  • Seller-friendly markets: In contrast, the Northeast and San Francisco Bay Area remain fiercely competitive. Cities like Buffalo, Hartford, San Francisco, San Jose, and Boston continue to favor sellers, with supply still well below pre-pandemic norms.

Metro trends to watch

  • Miami: Home values down 4.9% year-over-year, with homes taking 65 days to sell among the slowest in the country.

  • Austin: A similar trend, with values down 5.8% and a 71-day median time to pending sale.

  • Buffalo andHartford: Strongest seller markets, with homes going under contract in as few as 811 days.

  • Chicago andPhiladelphia: Still leaning seller-friendly, but with modest year-over-year price gains around 3%.

  • San Francisco andSan Jose: Despite falling prices, limited supply keeps competition high.

According to Zillow, the housing market has entered a holding pattern. Buyers have gained some temporary breathing room as sellers step back, but the reprieve may not last long. With inventory tightening again and mortgage rates showing signs of easing, both sides of the market are watching closely to see which way momentum shifts next.


Read More ...


Consumer News: FDA issues warning: Imported cookware may leach lead into your food

Wed, 17 Sep 2025 19:07:08 +0000

The agency has highlighted which items pose a risk to consumers' health

By Kristen Dalli of ConsumerAffairs
September 17, 2025
  • The FDA found that some imported aluminum and brass cookware may leach lead into food, making it unsafe.

  • Affected products include Tiger White, Silver Horse, and JK Vallabhdas branded cookware sold at U.S. retailers.

  • Consumers should stop using these products immediately and talk to a doctor if theyre worried about lead exposure.


Recently, the U.S. Food and Drug Administration (FDA) issued a warning about imported cookware that can release lead into your foodespecially products made of materials like aluminum, brass, or certain aluminum alloys (names like Hindalium/Hindolium or Indalium/Indolium).

Testing by the FDA and state partners showed that when some of these products are used for cooking or even storing food, lead can leach out making what you eat potentially unsafe.

Which products are affected

According to the FDA, the following items tested positive for lead leaching:

  • Tiger White Kadai/Karahi (Pure Aluminum Utensils, Saraswati Strips Pvt. Ltd., India) sold at Mannan Supermarket, Jamaica, NY.

  • Silver Horse Aluminium Mathar Kadai 26 (UPC 7 6554273084 5) sold at Patel Brothers, Schaumburg, IL.

  • Silver Horse Aluminium Milk Pan 4 (UPC 7 6554272863 7) sold at Patel Brothers, Schaumburg, IL.

  • JK Vallabhdas Aluminium Kadai (India Bazaar #3 2000000772) sold at Indiacos, Hoffman Estates, IL.

The FDA cautions that these are just the products tested so far other cookware could also be affected.

Whos most at risk

Lead is toxic, and no level of exposure is considered safe. But some people are more vulnerable:

  • Kids and babies because of their rapid growth and developing brains.

  • Pregnant or breastfeeding women because lead can affect fetal development.

  • Anyone exposed long-term even if they dont see symptoms at first.

What to do if you have one of these products

  • Check the FDAs list of tested cookware and see if anything you own matches.

  • If it does, stop using it for cooking or food storage right away. Do not donate it, refurbish it, or give it away.
    If you think you may have been exposed to lead (especially kids, pregnant women), talk to a health care provider about testing.

The FDA is continuing to monitorthe market and test cookware more products may be added to the warning list.

Manufacturers, retailers, and importers are being encouraged to use leadleaching tests, follow FDA protocols, and make sure any cookware sold is safe.


Read More ...


Consumer News: Weight-loss surgery shows stronger 10-year health benefits than popular meds, study finds

Wed, 17 Sep 2025 19:07:08 +0000

Research highlights differences in survival, heart health, and diabetes complications

By Kristen Dalli of ConsumerAffairs
September 17, 2025

  • Over nearly six to ten years, individuals with obesity and type 2 diabetes who had metabolic (bariatric) surgery showed significantly lower risks of death, heart events, kidney disease, and eye damage than those treated with GLP-1 drugs.

  • Surgery led to greater weight loss and better long-term blood sugar control; it also reduced the need for medications for diabetes, blood pressure, and cholesterol.

  • The study is observational, not randomized, and did not include every GLP-1 drug (especially some newer and highly effective ones), so its findings point to important differences but dont settle all questions.


For people with obesity and type 2 diabetes, treatments often come down to two major options: medications especially GLP-1 receptor agonists and surgical interventions such as gastric bypass or sleeve gastrectomy.

GLP-1 medicines have made headlines for helping with weight loss and blood sugar control, while metabolic surgery has been known for its often dramatic effects.

But until recently, few large studies had directly compared long-term outcomes, especially for major health problems like heart disease, kidney failure, eye damage, and even overall survival.

Researchers from Cleveland Clinic set out to explore exactly that. The results: bariatric surgery may be more beneficial.

Even with todays best medicines, metabolic surgery offers unique and lasting benefits for people with obesity and diabetes, researcher Ali Aminian, M.D., director of Cleveland Clinics Bariatric & Metabolic Institute said in a news release.

The benefits we observed went beyond weight loss. Surgery was linked to fewer heart problems, less kidney disease, and even lower rates of diabetes-related eye damage.

The study

The study, called the M6 study (short for Macrovascular and Microvascular Morbidity and Mortality after Metabolic Surgery versus Medicines), followed 3,932 adults who had both obesity and type 2 diabetes.
Of those, 1,657 underwent metabolic surgery (gastric bypass or sleeve gastrectomy), while 2,275 were treated with GLP-1 receptor agonist drug, including medications like liraglutide, dulaglutide, exenatide, semaglutide, and tirzepatide.

Researchers used statistical methods to balance out differences between the two groups at the start things like age, gender, and health status so that the comparison would be fairer. They looked over a median follow-up of about 5.9 years for many outcomes, and also projected up to 10 years for cumulative results.

Key outcomes measured included:

  • Death from any cause

  • Major adverse cardiovascular events (heart attack, stroke, heart failure)

  • Nephropathy (serious kidney disease)

  • Retinopathy (diabetes-related damage to the eyes)

  • Measures of weight loss and blood sugar control (HbA1c)

The results

Heres how the two approaches compared over time:

  • Mortality: After 10 years, about 9.0% of the surgery group had died (from any cause), versus 12.4% in the GLP-1 treatment group. This translated to a ~32% lower risk of death for the surgery group.

  • Heart events (cardiovascular outcomes): Surgery was linked to about 35% lower risk of major adverse cardiovascular events than GLP-1 drugs.

  • Kidney disease: The surgery group had a ~47% lower risk of serious kidney disease than the GLP-1 group.

  • Eye damage (retinopathy): Risk was ~54% lower for those who had surgery.

  • Weight loss and blood sugar control: Over 10 years, surgery patients lost on average 21.6% of their body weight, compared with 6.8% for those on GLP-1 meds. Blood sugar (measured by HbA1c) dropped more in the surgery group (0.86%) vs the GLP-1 group (0.23%).

  • Medications needed: The surgery group required fewer prescriptions over time for diabetes, blood pressure, and cholesterol.

Even in the era of these powerful new drugs to treat obesity and diabetes, metabolic surgery may provide additional benefits, including a survival advantage, researcher Steven Nissen, M.D., said in the news release.


Read More ...


Consumer News: New York man resentenced for running BreachForums

Wed, 17 Sep 2025 19:07:07 +0000

Charges included access-device crimes and possession of child sexual abuse material

By James R. Hood of ConsumerAffairs
September 17, 2025
  • Conor Brian Fitzpatrick, 22, gets three years in prison for operating BreachForums, a cybercrime marketplace.
  • He pleaded guilty to access device crimes and possession of child sexual abuse material.

  • The resentencing follows a federal appeals court ruling that vacated his earlier time served sentence.


Resentencing after appeals court ruling

A New York man was resentenced Tuesday to three years in federal prison for creating and operating BreachForums, one of the worlds largest English-language marketplaces for stolen data. Conor Brian Fitzpatrick, 22, of Peekskill, had previously received a sentence of time served17 daysbut that punishment was overturned by the U.S. Court of Appeals for the Fourth Circuit in January.

Marketplace for stolen information

Fitzpatrick launched BreachForums in March 2022 after the law-enforcement takedown of RaidForums. Prosecutors said the site quickly attracted more than 330,000 members and offered access to at least 888 stolen datasets containing over 14 billion records of personal and commercial information. Among the data offered were the details of about 200 million social media users and nearly 88,000 members of InfraGard, an FBI-private sector partnership for critical infrastructure security.

Guilty plea and forfeiture

Fitzpatrick pleaded guilty to conspiracy, solicitation of access devices, and possession of child sexual abuse material. As part of his plea, he agreed to forfeit over 100 domain names, more than a dozen electronic devices, and cryptocurrency tied to the operation of BreachForums.

Justice Department reaction

Following the dismantlement of RaidForums by law enforcement, the defendant set up and administered BreachForums, an online bazaar where criminals could purchase sensitive data, said Acting Assistant Attorney General Matthew R. Galeotti. Todays sentence demonstrates the Justice Departments unwavering commitment to bringing to justice those who seek to sell stolen data to the highest bidder.

U.S. Attorney Erik S. Siebert of the Eastern District of Virginia said Fitzpatrick personally profited from the trade in stolen information and exploited child abuse material, calling the harm incalculable. FBI Cyber Division Assistant Director Brett Leatherman added that the bureau is working tirelessly to dismantle criminal marketplaces like BreachForums.

Broader context

The case was investigated by the FBIs Washington Field Office and prosecuted by the Justice Departments Computer Crime and Intellectual Property Section and the U.S. Attorneys Office for the Eastern District of Virginia. It was brought as part of Project Safe Childhood, a nationwide DOJ initiative targeting online child exploitation and abuse.


Read More ...


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