US Business News

Used-Car Prices Remain High, Even With Recent Fall

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By: Joe Mcdermott is a journalist, reporter and writer for SEARCHEN NETWORKS®

The American consumer is feeling the pinch. In the wake of pernicious supply chain issues caused by the COVID-19 pandemic, the cost of personal transport soared, redefining what bang-for-buck really means in the automobile industry. Even with the recent fall in wholesale prices of used cars and trucks for sale, the market is still leagues away from the comfortable norms that were once the status quo.

As per ADESA Auctions’ latest monthly report, the average wholesale price of a used vehicle dropped to $14,012 by November 2023, marking a 4.6 percent year-on-year decrease. However, it is vital to recognize the broader picture, which remains somewhat bleak. When juxtaposed with the November 2019 data, current prices are still a substantial 26.5 percent higher, which equates to a price difference of $2,938.

ADESA’s data serves as a timeline into the past few tumultuous years. Average wholesale prices for used vehicles sky-rocketed past the $16,000 threshold for the first time in September 2021, then reached an all-time high in May 2022, at a staggering $17,843.

“We can attribute the current downward curve to customary seasonal trends,” said Tom Kontos, Chief Economist for ADESA Auctions. “On average, car prices take a dip in winter and begin climbing up once spring ushers in the full driving season.”

This pattern proves consistent with what we are witnessing today. As November rolled into December 2023, we saw wholesale used vehicle prices taking a second consecutive monthly dip. Kontos notes, “This is rather typical for the end-of-year holiday season. Dealers seem well-stocked and prepared for the predicted soft retail demand.”

However, the high pricing is not the only obstacle impeding vehicle purchases. High-interest rates on auto loans compound the financial pain for consumers seeking to buy vehicles, new or used, contributing directly to a sluggish demand.

Faced with inflated auction prices, dealerships have started to seek alternative, economical means to attain used cars. Instead of going for the conventional auctions, more dealers are now exploring trade-ins or private sales to fulfill their inventory requirements.

The persistence of high prices may prove a double-edged sword, increasing profits individually and yet decreasing total sales volume. In this time of inflated costs and pronounced uncertainty, thrift and resourcefulness become key in satisfying the needs of both dealer and consumer. Success will favor those who can deliver quality products at prices accessible to the average American.

While these astronomical purchase prices continue to strain consumers, they signal the industry’s resilience amidst the ebb and flow of unprecedented global disruptions. The return to pre-pandemic price levels will inevitably be slow, and the road to recovery will likely remain bumpy. But these minor decreases offer a moment of reprieve and, perhaps, a sign of hopeful stabilization; a positive nod towards a future where both dealers and consumers can once again meet at an affordable price point.

As the auto market navigates the stormy waters of high prices and economic uncertainty, Auto Buyers Market remains a committed guide, empowering customers with the most recent and relevant information. To stay informed about the latest trends in the automobile industry, visit the Auto Buyers Market news

Tech Startup Innovation: High School Student’s Algorithm Revolutionizes Oil Transportation Industry

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In a fusion of youthful innovation and business acumen, high school student and start-up entrepreneur Warren Zhang has made his way in the oil transportation industry. His company, Ideal Thermal Technology Ltd., founded in 2022, has developed an algorithm that revolutionized the heating system in crude transportation, significantly reducing greenhouse gas emissions and for sure, reducing the fuel cost for shipowners and operators.

Zhang, balancing his school studies with his passion for mathematical modeling and computational simulation, has utilized his computational fluid dynamics (CFD) and machine learning skills to address a longstanding industry problem: the inefficient heating of oil in tankers. The traditional methods, often based more on engineering experience than precise calculations, have led to excessive energy consumption and quality degradation of the oil.

The algorithm, a culmination of various modules like the boiler, oil tank, and pipeline, integrated through advanced mathematical modeling and machine learning, offers a tailored heating approach. It adjusts heating based on external parameters, optimizing energy usage, and reducing fuel consumption by up to 7%. It is a complex process using theoretical analysis, MATLAB, CFD, database, VBA coding, machine learning and user interface design. This innovation is not only a technical breakthrough but also a testament to Zhang’s business prowess, as evidenced by his successful sale of the technology to Synergy Group in 2023, the leading oil tanker management company in the world.

The commercial success of Zhang’s algorithm reflects a shift in the oil transportation sector, traditionally slow to adopt new technologies, towards embracing innovative solutions. Ideal Thermal Technology’s journey, from a high school project to a key player in a global industry, highlights the potential of young entrepreneurs to innovate and transform established markets with sustainable and efficient solutions.

Moreover, this case exemplifies the growing trend of young innovators taking the lead in addressing global challenges. Zhang’s work aligns with the increasing emphasis on environmental responsibility and energy efficiency in traditional industries. His dual role as a student and entrepreneur showcases the potential of the younger generation to drive significant technological advancements while pursuing sustainable practices.

Warren Zhang’s journey from a high school STEM enthusiast to the founder of a groundbreaking tech startup exemplifies the transformative impact of youthful innovation in traditional industries. Besides offering a sustainable solution, his algorithm signals a broader shift towards environmental consciousness. His achievements signify the promising future of technological innovation led by young minds.

The Role of Ardass Corporation: Taking The Stress Out of Tax Audits and Representation

Introduction

With the complexity of the tax system in the modern world, tax audits have become a regular occurrence for businesses and individuals alike. Amidst such challenges, Ardass Corporation emerges as a beacon of hope, minimizing the anxieties associated with tax audits and representation. Under the esteemed leadership of CEO Satpreet Singh and General Manager Rupinder Kaur, the firm works vigorously to reduce the burden and confusion that taxpayers often encounter during financially stressful times.

Navigating the Labyrinth of Tax Audits

A tax audit is not merely reading through financial records but a complex process that requires expert knowledge in the field of taxation. It involves minute scrutiny of account books, invoices, and other related documents to ensure complete compliance with the tax laws. Given this vast scope of evaluation, it’s only fair to say that tax audits are often viewed with apprehension and dread, especially by businesses, for fear of inadvertently violating tax laws and encountering hefty penalties.

However, when you have a respected firm like Ardass Corporation by your side, the prospects brighten significantly. With its systematic and organized approach, Ardass Corporation effectively alleviates the distress businesses experience during a tax audit. It supports its clients with professional advice, helping them to prepare meticulously for audits, assisting in proper document maintenance, and ensuring tax compliance, reducing the possibility of any irregularities detected that could lead to fines or penalties.

Advent of Representation: Dealing with Tax Authorities

Dealing with tax authorities can be overwhelming for the uninitiated. The language of taxation is laden with jargon, the complex tax laws may seem like a tangled web and misunderstandings can lead to serious complications. This is where tax representation steps in.

Ardass Corporation excels in the field of tax representation. Its team of seasoned professionals adeptly manages the communication between the client and the tax authorities, simplifying the complex world of taxation for those they represent. They act as buffers, skillfully guarding their clients against any inadvertent missteps and ensuring smooth transactions between them and the tax authorities.

Their representation services include assisting taxpayers in dealing with the complex realm of dispute resolution. They guide their clients to make informed decisions under the most testing circumstances related to tax disputes, relieving them from the apprehensions linked with these taxing processes.

Leadership At Ardass Corporation

The credibility of Ardass Corporation is rooted in the proficient stewardship of Satpreet Singh, the CEO, and Rupinder Kaur, the General Manager. Their commanding vision shapes the firm’s client-oriented strategies, bolstering its reputation as a trusted partner in times of tax complexities. The expertise they bring to the table is instrumental in the firm’s tailored tax solutions that address the unique needs of each client.

As digital presence has become vital today, Ardass Corporation ensures its reach to its clients through its accessible digital platforms. Comprehensive information and support services are conveniently available to clients via their website, www.ardassinc.com. This not only enhances the client experience but also ensures timely and effective communication.

In essence, tax audits or representation need not be fraught with stress and burden. A firm like Ardass Corporation, with its leadership’s eye for detail and a team of seasoned tax professionals, can lend invaluable support. Ardass Corporation’s commitment goes beyond helping clients traverse the complex tax landscape; it extends to making the journey less daunting and more manageable.

Conclusion

Navigating through tax complexities and the intricacies associated with audits and representation has emerged as a challenging aspect of business today. This is where the Ardass Corporation comes to the forefront, providing efficient solutions and expert guidance. With their client-centric approach, they do not merely simplify the tax process but also build reliable partnerships that stand the test of time.

In a scenario where financial regulations are becoming ever more complicated, the need for a companion who understands the nuances of tax law is an absolute necessity. The Ardass Corporation, with remarkable leadership and robust representation services, provides this companionship, helping businesses to focus on what they do best—progress and prosper. Together, let’s make tax audits and representation a less daunting journey. Trust in the professionals at Ardass Corporation.

 

The Balancing Act: Tips from Zach Wade of Wade Marketing on How to Work Multiple Jobs Without Burning Out

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During a time where economic uncertainties loom large, a growing number of Americans, particularly the younger generation, are grappling with the challenge of making ends meet. The cost of living, from housing expenses to food costs, has been on an upward trajectory, driving many individuals to seek multiple jobs to maintain their desired lifestyles. More than 7.7 million workers in the United States, comprising 4.9% of the workforce, held two or more positions in 2022. 

Zach Wade, CEO of Wade Marketing, observes, “Employees are turning to job stacking as a strategy to make ends meet in a progressively challenging economic environment. Much like how businesses have often viewed employees as parts of a transactional arrangement, employees are now reciprocating this sentiment.”

While a second job can provide a financial lifeline, it also presents a unique set of challenges that individuals need to navigate with care. In this article, we explore the intricacies of working multiple jobs and provide insights into maintaining one’s well-being amidst a busy schedule.

Does Job Stacking Lead To Burnout?

For those who find themselves working two jobs, managing conflicting schedules and demands can be a Herculean task. This struggle can take a significant toll on one’s mental health, potentially leading to fatigue and burnout, which, in turn, can hamper their performance in both roles. The lack of time for self-care and other stress-reduction activities can disrupt one’s work-life balance and contribute to feelings of stress and burnout.

But what leads professionals into these situations? “Anything can lead to burnout, though I wouldn’t recommend job stacking to anyone who doesn’t love what they do,” Wade explains. The pressure that comes with maintaining multiple roles, along with the time consumed being put into these roles, takes its toll on those who find themselves ambivalent over their positions. “The more you love what you do, the less likely you’ll burn out,” he adds. 

The physical and mental demands of working two jobs can be exhausting. Constantly being on the go with little time to recharge can lead to reduced productivity and an increased risk of errors or accidents. In such circumstances, the importance of self-care cannot be overstated. Taking care of one’s physical and mental well-being is a fundamental prerequisite for successfully managing multiple jobs. When done right, job stacking offers workers the opportunity to make more and work the same 40 hours as they were in just one role. 

Coping Strategies for Job Stackers

To thrive while working two jobs, individuals must implement strategies that promote balance and well-being:

  1. Manage Stress: Job stacking can be stressful, and it’s crucial to find effective stress management techniques. This might include mindfulness practices, exercise, or hobbies that bring joy and relaxation.
  2. Set Boundaries: Create clear boundaries between your work and personal life. Designate specific time for relaxation, family, and social activities to ensure a healthy work-life balance.
  3. Outsource: As your job stack grows, it’s not feasible to manage that workload on your own. Outsource some of the tasks you’re comfortable delegating, so you’re able to take care of the high-priority tasks. 
  4. Assess the Pros and Cons: Carefully weigh the advantages and disadvantages of working multiple jobs. While extra income is enticing, consider whether it aligns with your long-term career goals, as it may hinder opportunities for advancement or further education.
  5. Time for Self-Care: Dedicate time to self-care activities, such as exercise, meditation, or simply taking a break. It’s essential to rejuvenate both physically and mentally to stay resilient.

How is Job Stacking a Catalyst to Well-Being?

Some employees are hesitant of this nuanced trend, unsure of how discretely working multiple jobs can improve their mental well-being. When done right, job stacking offers flexibility in choosing and balancing workloads. By choosing jobs that complement each other, job stackers can create schedules that works best for them and maximize their productivity – without inundating themselves. 

The increase in job security and earning multiple streams of income are additional bonuses that can alleviate stress in the lives of many Americans. These advantages ultimately promote career success and overall well-being.

As economic uncertainties persist, working multiple jobs has become a viable strategy for many Americans to meet their financial needs. While this approach can be a lifeline, it presents a range of challenges, from balancing schedules to avoiding burnout. As CEO of Wade Marketing, Zach Wade warns, “Labor economists should be reluctant to dismiss job stacking as a fake trend.” This strategy is not a mere trend but a pragmatic response to the ever-evolving economic landscape. To succeed in a multi-job scenario, individuals need to prioritize self-care, communication, and a balanced approach to their professional and personal lives. It is a nuanced journey, but with careful planning and support, it is one that can lead to personal and financial growth.

About Wade Marketing: Wade Marketing is a renowned B2B and B2C internet marketing agency founded by Zach Wade. The agency is dedicated to empowering aspiring entrepreneurs to master the art of job stacking, enabling them to forge their unique career paths and thrive in today’s dynamic business landscape.

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Sources:

  • The Employment Situation – September 2023 (bls.gov) https://www.bls.gov/news.release/pdf/empsit.pdf