Derailments have been a persistent problem for trains since their inception, and they continue to be a concern today. In response to a recent derailment and toxic spill in Ohio, Transportation Secretary Pete Buttigieg has called for various reforms, including safer tank cars, higher train staffing levels, and the deployment of electronically controlled pneumatic brakes (ECP). ECP is a technology that can significantly improve braking and reduce stopping distances by over 50%, according to Wells Fargo analyst Allison Poliniak-Cusic. Despite objections based on cost and reliability, Poliniak-Cusic believes that the recent accident and others like it will spur increased support for ECP. The history of train safety is marked by a pattern of accidents leading to technological advancements. In 1869, George Westinghouse invented the air brake, which allowed for more efficient stopping of trains using compressed air. This invention led to the creation of Westinghouse Air Brake, a company that
Last year was a difficult year for Carvana, the popular online used-car seller. For the first time in nine years, the company sold fewer cars than in the previous year, resulting in losses of $1.6 billion. The auto industry supply chain problems caused by the pandemic led to a shortage of new cars, which led to an increase in the price of used cars. Carvana was not prepared for this market drop, which was exacerbated by rapidly rising interest rates, making it more difficult for the company to sell cars. However, the company's CEO, Ernie Garcia III, said that the difficult transition the company had gone through in the past year would lead to a more efficient company in the future. Carvana is the second largest used-car retailer in America after CarMax. The company's losses ballooned to $806 million in 2022, and the number of cars sold in the fourth quarter of last year dropped 23% from a year earlier to about 87,000, while overall revenue declined 24%. The company has been a