Smith: On Tesla’s woes and auto insurance
“Outta’ My Mind on a Monday Moanin’”
Tesla running into a reality check? Can’t deliver the Model 3 in numbers they had predicted? Increased losses of $619 million for the third quarter? If things go the way they have been for the company on Wall Street, such bad news should help the stock skyrocket.
■Mayor Mike Duggan has been saying it. Big businesses like Quicken Loans, DTE Energy and Lear Corporation are agreeing. Michigan’s highest-in-the-nation auto insurance rates have become a cost-of-living issue. Chad Livengood reports in Crain’s Detroit Business that Michigan’s statewide average auto insurance premium of $2,394 is 82 percent higher than the national average, and in Detroit, auto insurance premiums are often double and sometimes triple what the average driver pays elsewhere in Michigan, and big employers are feeling the pushback and the pain. Lear Corp. CEO Matt Simoncini is not alone in saying, “It’s a huge hurdle for getting people to become residents of Detroit.” Simoncini has made a big commitment to the City of Detroit in Lear’s downtown Innovation Center in Capital Park.
■We are heading into “Black Tie” season, or at least “Dressy Attire” or “Cocktail Attire” time …
■Theodore G. Munz, S.J., president of University of Detroit Jesuit High School and Academy, invites you to its annual auction benefiting the Scholarship Fund on Saturday, Nov. 11.
■Jennifer & Dan Gilbert invite you to an enchanted evening in Detroit with A Fantastical Faire to end NF (neurofibromatosis). On Saturday, Nov. 18 at Cobo Center, you will have an opportunity to have a great time while helping them move closer to finding a cure for NF.
Paul W. Smith is host of The Paul W. Smith Show on WJR-AM (760) from 5:30-9 a.m. Monday-Friday.