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Isabel’s morning briefing

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* ICYMI: Pritzker, Johnson, Preckwinkle meet to discuss Chicago asylum-seekers. NBC Chicago

* Isabel’s top picks…

* Here’s the rest of your morning roundup…

posted by Isabel Miller
Tuesday, Feb 6, 24 @ 7:43 am

Comments

  1. It’s good to see the pricing are dropping, but for EVs to become common place manufacturers need to find a way to produce a much more affordable option. $40,000 is not a realistic price tag for the vast majority of the population.

    Comment by It's Electric Tuesday, Feb 6, 24 @ 9:11 am

  2. IL farmers featured in Super Bowl commercial

    “Boucher Farms raises corn, soybeans, wheat and cover crops, as well as pork and chicken for local sales. The operation also includes a trucking business and seed sales. Boucher, as well as his wife, Heather, and teenaged children Harlie, Cole and Delaney, all help out on the farm”

    Love this, a hard-working and typical IL farmer getting a national ad. Hopefully, this will also encourage the ILGA to increase the state estate tax threshold for family farms.

    Comment by Donnie Elgin Tuesday, Feb 6, 24 @ 9:23 am

  3. 3 things-

    -It appears that Henyard hasn’t read a history book. Or at least followed the Betty Lauren Maltese story. These things always end the same way.

    -Apparently running a family farm like “hands of a farmer” Bailey isn’t a full time job.

    - The Illinois Freedom Caucus needs a vice chair? That is hilarious. How bad are that at organization that they need a vice chair for 5 or 6 guys?

    Comment by JS Mill Tuesday, Feb 6, 24 @ 9:50 am

  4. ===$40,000 is not a realistic price tag for the vast majority of the population. ===

    “The U.S. new-vehicle average transaction price in December 2023 was $48,759″

    https://mediaroom.kbb.com/2024-01-11-Automotive-Market-Shifts-to-Favor-Buyers-as-U-S-New-Vehicle-Prices-Down-Record-2-4-Year-Over-Year-in-December-2023

    Comment by Rich Miller Tuesday, Feb 6, 24 @ 10:45 am

  5. The Sun-Times has a good article on their website about the history of Chicago’s expressways, and how their building contributed to racial segregation: https://chicago.suntimes.com/2024/2/6/23949386/kennedy-eisenhower-dan-ryan-expressway-highway-construction-traffic-segregation-urban-renewal-race

    Comment by JoanP Tuesday, Feb 6, 24 @ 11:03 am

  6. Those Rivian vehicles look pretty cool I live fairly close to the plant and have to say they are sharp looking.

    Comment by clec dcn Tuesday, Feb 6, 24 @ 11:45 am

  7. Rich - Acknowledged, but what is the percentage of families that can afford to purchase a new vehicle? This article says only 22 percent can afford a new car. At that rate, we are not going to see EVs become the norm for sometime. Just an observation, I would buy one if I could afford one. https://www.thestreet.com/automotive/why-only-about-22-percent-of-americans-can-afford-a-new-car-

    Comment by It's Electric Tuesday, Feb 6, 24 @ 11:46 am

  8. = this will also encourage the ILGA to increase the state estate tax threshold for family farms.=

    Yeah, those poor oppressed Illinois farmers. They all have half a dozen or more corporations, receive every subsidy known to man and pay next to no taxes. We really need to help them out a little more. You know, because they are hard working.

    Comment by JS Mill Tuesday, Feb 6, 24 @ 12:02 pm

  9. =This article says only 22 percent can afford a new car.=

    I can afford to buy a new car but haven’t done so in well over a decade. Buying a new car means taking a huge depreciation hit. I typically buy low mileage cars that are 3-4 years old. The cost on average is about 50-60% of their original retail and in many instances they’re still covered under the manufacturer’s warranty. With new leases typically running 36-48 months there’s no shortage of these cars on the market including electrics.

    Comment by Pundent Tuesday, Feb 6, 24 @ 12:17 pm

  10. === This article says only 22 percent can afford a new car. At that rate===

    You’re conflating two different things. Also, while it’s true that most people can’t afford a new car, I think that’s probably always been true.

    Either way, this is not an EV issue per se. No way would I buy a brand new full-size truck, EV or not. Not gonna spend that kind of money.

    Comment by Rich Miller Tuesday, Feb 6, 24 @ 12:23 pm

  11. I never buy cars new; it’s not fiscally prudent. That does mean it will take longer before my choices for my next car include hybrids or ev because of demand versus supply. I’ve seen the Rivians up close and agree they are impressive and good looking.

    The way we buy cars continues to change and the trend is moving away from straight purchases and 4 years loans to a subscription/lease model, which suits the car makers but I’m not convinced it’s great for consumers.

    Comment by Give Us Barabbas Tuesday, Feb 6, 24 @ 12:24 pm

  12. ===which suits the car makers but I’m not convinced it’s great for consumers===

    I leased two Cadillac plug-in hybrids because I wasn’t convinced that the technology was strong enough for them to hold their value. It has a purpose. Cadillac discontinued that car or I would’ve probably leased another one.

    Comment by Rich Miller Tuesday, Feb 6, 24 @ 12:29 pm

  13. confused. Illinois Politico says Firefighters Union local 2 endorsed Clayton Harris. X has a post from Eileen O’Neill Burke where she is pictured with union brass for an endorsement. are they both endorsed?

    Comment by Amalia Tuesday, Feb 6, 24 @ 12:30 pm

  14. =$40,000 is not a realistic price tag for the vast majority of the population.=

    That may be true. That said, the average price of a new car is almost $49,000 right now

    https://caredge.com/guides/new-car-price-trends-in-2024

    Comment by Joe Bidenopolous Tuesday, Feb 6, 24 @ 1:27 pm

  15. Sure, new cars are expensive, but the used EV market is not very friendly to families on a budget either. The cost of replacing an EV’s battery can be prohibitive, especially to those who could not afford a new EV in the first place (ranging from $5,000 to $20,000). A Tesla 3’s replacement battery costs is 30% of its MSRP. https://www.cars.com/articles/how-much-do-electric-car-batteries-cost-to-replace-465308/. I understand all cars require regular maintenance and upkeep costs, but the risk of having to spend $15,000 to $20,000 on a replacement battery doesn’t make the used market for EVs very attractive, especially to that 78 percent of the population who couldn’t afford a new one. My point being, EVs, new or used, only seem to be realistic purchases for the wealthy, which is something I would like to see change.

    Comment by It's Electric Tuesday, Feb 6, 24 @ 2:07 pm

  16. ===but the risk of having to spend $15,000 to $20,000 on a replacement battery doesn’t make the used market for EVs very attractive===

    Another reason why I leased.

    Comment by Rich Miller Tuesday, Feb 6, 24 @ 2:13 pm

  17. It might reduce buyer anxiety over used EV purchases if the possibility of needing an early pack replacement was covered by insurance or a tax break or incentives other than just a break on the initial purchase price.

    Comment by Give Us Barabbas Tuesday, Feb 6, 24 @ 3:51 pm

  18. == No way would I buy a brand new full-size truck, EV or not. Not gonna spend that kind of money. ==

    Car prices are insane, EV or not. Was having my paid for Lincoln serviced for a recall, and the salesmen kept trying to get me interested in a new Lincoln. The fully loaded Navigator on the showroom floor had a sticker of $105,105 … before tax. Insane.

    And I don’t even fit in it; too tall.

    Comment by RNUG Tuesday, Feb 6, 24 @ 9:04 pm

  19. ===Insane===

    I will not buy a car that’s more expensive than my first house, which was around $65,000.

    I came close on the last one (because I wanted an all-wheel-drive convertible and I absolutely loved it, and because it was not only below that nominal price mark but also way below inflation-adjusted dollars), but that’s it for me. No more.

    I’m now looking to trade in my low-mileage 2013 Ram 150 for a Ford Maverick hybrid (which is a bit more than half the inflation-adjusted price I originally paid for my beloved monster). The 2019 convertible is almost paid for. Not sure if I’ll keep it (upkeep costs are crazy for that manufacturer), but I do love a ragtop.

    Comment by Rich Miller Wednesday, Feb 7, 24 @ 1:18 am

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