Welcome to Thursday’s first shift I’m Chyna Haley one Midwest dealership group is focused on creating a quote safe and spirited workplace our Jennifer Vong and Tom Mora Beck we’ll have that story later in the show first up headlines BMW says it will take majority control of its main China joint venture for 4.
2 billion dollars it’s the first such.
Move by a global automaker and it comes as Beijing starts to relax ownership rules for the world’s biggest auto market BMW CEO Harold Kruger seen here with Communist Party.
Secretary Chen Chifa declaring quote we are now embarking on a new era BMW will lift its stake in its venture with brilliance China automotive Holdings – 75% from 50 percent Kreuger telling.
Bloomberg TV BMW does not plan to take full ownership of the venture think it’s the right ways to achieve eclis to always have a partner in China to know better the country to develop the things together and I see it as a long-term.
Partnership even if we have the majority of the state now the deal is slated to close in 2022 that’s when rules.
Capping foreign ownership for all auto ventures are lifted the move will likely spur BMW to shift more production to China helping boost profits amid the trade war between Washington and Beijing Tesla CEO Elon Musk is disputing.
A Financial Times report that outgoing 21st Century Fox CEO James Murdoch is the lead candidate to replace him as Tesla chairman musk sang in a tweeted reply to the.
Newspaper this is incorrect Tesla has until November 13th to appoint an independent chairman of the board this under settlements reached last month between Tesla musk and.
US regulators the Financial Times citing two people briefed on discussions says Murdoch is the lead candidate it says Murdoch already an independent director of Tesla has signaled he wants the job but musk is known to favour board member Antonio Garcia Garcia is CEO of chicago-based valor Equity Partners and the passport group of auto dealerships in the Washington DC suburbs along with a California marketing firm have settled claims they deceptively mailed more.
Than 21,000 fake urgent recall notices to consumers the Federal Trade Commission announcing the settlement Wednesday it says most of the vehicles covered did not have open recalls and the notices were an attempt to lure customers in for repairs and increase business for the service departments in a statement provided to automotive news passport disagreed with the findings adding it was not our intention to.
Mislead anyone it says the ads were sent because it was having serious problems identifying and fixing open recalls Automotive News has recognized the.
Best dealerships to work for for seven years running and during that time many.
Retailers have shared their recipes for creating exceptional environments for employees our Jennifer Wong and Tom Warbeck join us from Chicago with more China Kunis country.
Auto Group stores have been named to our best dealerships list five are the past seven years in djenne we recently had the opportunity to visit two kunis doors to learn about the company’s motto Faith Family and giving back we don’t chase the dollar it’s not about how much money we’re gonna make the money will come that’s dealer and owner Greg kunis who has largely defined the Christian.
Character of the company kuna says he’s helped create a secure workplace by respecting each employee’s.
Role skillset an opinion Kunis.
Is also highly visible and accessible at his 16 dealerships throughout Wisconsin and Illinois he says the group’s employee first strategy often causes a ripple effect its first probably how we treat our employees and then how we treat our customers because you have to treat your employees right first and they have to be happy to work here and they have to to be a safe enjoyable atmosphere a lot of times dealerships aren’t safe for for everyone I truthfully believe that God.
Made everyone valuable now to the philanthropic part of the company slogan Kunis country Auto Group tithes giving 10% of its annual net profits to local charities such as food pantries the retailer donated roughly 1 million dollars to those in need in 2017 by the way 3 Kuna stores.
Dealerships list in Jennifer a total of 100 dealerships will be.
Saluted in Chicago tonight we’ll have highlights from the.
Event plus the story of the number one store to work for we’ll have all that and much more tomorrow morning on first ship China will send it back to you Jen Tom thanks so much and thank you for joining us today see.
You right back here tomorrow morning..