Food trucks in the U.S. have taken many forms, but have long been a popular option for dining. Now as the coronavirus pandemic alters the way we interact and engage with others, these kitchens on wheels may have a new function, especially on college campuses.
Rod Keller, CEO of the electric vehicle manufacturer AYRO is jumping at the opportunity to capitalize on the niche industry in a partnership with Gallery Carts. The new collaboration will combine AYRO's expertise in developing electric vehicles with Gallery's expertise in creating food delivery vehicles.
"Colleges are faced with, 'Well how do we provide food and beverage while at the same time, avoiding the mass crowds that you would typically see inside of a cafeteria?'" Keller told Cheddar.
So far, more than $500,000 has been poured into the collaboration as orders for the vehicles continue to amass. Keller said he's confident that as universities and other large campuses seek safer ways to feed their communities amid the pandemic, the need for their services will grow.
AYRO is also banking on buyers in higher education considering the long-term savings electric vehicles can provide. Keller said its electric vehicles save fleet operators at least 50 percent on fuel and energy costs.
"When people are moving cargo from one side of a university to another, or business campus, or hotel and resort, you don't need a full-sized truck with 400 miles of range running on gasoline to do that," Keller said.
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
Creating a brand is one of the most important steps in building a business. It can help set you apart from the competition and tells customers what your values are, but many companies don't know how to brand themselves effectively. Tiana Von Johnson, CEO & Chief Brand Strategist of TVJ World, gives expert tips on the do’s and don’ts of branding.
Housing affordability has collapsed to its lowest level on record over the last year. According to the national association of realtors, affordability has dropped by 29%, thanks to surging home prices and mortgage rates. Odeta Kushi, Deputy Chief Economist of First American, breaks down the housing market, and when buyers can expect prices to finally drop.
U.S. markets opened sharply lower on Friday on hotter-than-expected inflation data. The May CPI showed an 8.6% jump in consumer prices year-over-year, higher the expected 8.3%. Mark Howard, Senior Multi-Asset Specialist at BNP Paribas joined Cheddar's Opening Bell to discuss.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Residents often have to wait on federal assistance after a disaster, but one group has a solution: hiring community members to help clean up and improve their neighborhoods. Resilience Force tackles two problems at once by creating jobs in response to growing climate-related disasters. LaTanja Silvester, director of New Orleans programming for Resilience Force, joins Closing Bell to discuss how the organization creates jobs in communities that need help and higher employment, the importance of creating a "green" workforce, and more.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
Yung Lim, CEO and Fixed Income Strategist at FolioBeyond, joined Closing Bell to discuss the May CPI report, as inflation is still red-hot going into a key decision from the Federal Reserve about interest rates.
