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- Cosm rides premium moviegoing wave with more immersive screenings and a wider li...
Cosm tickets cost anywhere from $18 for a matinee to around $70 for prime seats or in-demand showings. [TheTopNews] Read More.2 days ago - Companies urged to adapt as restaurant franchisee files for bankruptcy: ‘B...
Companies operating in California and across the nation face growing pressure to adapt to high overhead rather than point to local economic conditions for financial collapse, experts say."A lot of businesses want to make excuses now," entrepreneur and FOX Business contributor Marcus Lemonis said Friday during an appearance on "Fox & Friends." "What I say to business owners, small, medium and large. … ‘These are the cards we are dealt. You’re going to have to make difficult decisions.'"Lemonis noted that many companies continue to thrive in the Golden State despite high costs and strict oversight."If the country is going to survive the way we want it to and prosper, we're going to have to run good businesses, regardless of what state we're in," he added.MCDONALD'S DEALT LEGAL SETBACK AS JUDGE ALLOWS MCRIB MEAT LAWSUIT TO PROCEEDLemonis' remarks were in response to a question about San Diego–based Out West Restaurant Group, an Outback Steakhouse franchisee that filed for Chapter 11 bankruptcy protection, while pointing to California’s labor expenses and inflation as the primary catalyst for its distress.Out West, officially known as Cerca Trova Restaurant Group, is seeking relief from a massive $449 million debt load. The company currently operates 61 Outback Steakhouse locations across California, Arizona, Colorado, Nevada, and New Mexico, a decline from the 99 restaurants it managed at its peak in 2018.In court filings, CEO David Goronkin blamed a shrinking customer base and high operational overhead. California’s minimum wage hit $19.60 per hour in January. The filing also cited beef price increases of up to 5% annually since 2022."By 2026, the pressures on the business had converged," Goronkin stated in court documents. "Guest traffic and earnings continued to decline, while food, labor, and other production costs continued to rise."MCDONALD'S HIT WITH LAWSUIT CLAIMING MCRIB CONTAINS NO REAL RIB MEATWhile sit-down restaurant chains were exempt from California's $20-per-hour fast-food minimum wage law passed in 2024, full-service restaurants have faced higher labor costs statewide. To navigate its Chapter 11 restructuring, Out West is seeking court authorization to sell its assets. "There's a cause and effect for everything," Lemonis said. "Either I'm going to raise the prices, I'm to cut my staff, I'm gonna have to close — there's always a cause and effect, and I think what these DSA candidates are gonna realize quickly is the effect is going to actually impact the people that voted for them."CLICK HERE TO GET FOX BUSINESS ON THE… [TheTopNews] Read More.2 days ago - Tesla to wind down Cybertruck production at Texas factory next year to make room...Tesla CEO Elon Musk said that the company is planning to end production of the Cybertruck at Gigafactory Texas around the middle of next year as it reallocates capacity to increase Cybercab production.Musk said late Thursday in a post on his X platform that "Tesla will be winding down production of the Cybertruck at Gigafactory Texas around the middle of next year to make room for increased Cybercab production."The move serves as a retreat from what has been one of Musk's pet projects, as the futuristic Cybertruck was once touted as a rival to legacy pickup trucks.While it wasn't immediately clear whether production of the Cybertruck would move to another Tesla facility or be phased out entirely, the Austin facility is the only known Tesla factory equipped to produce the Cybertruck.TESLA RAISES CYBERTRUCK PRICES ON 2 US MODELSMusk said in response to a user post on X that the Cybertruck is the "best vehicle Tesla has ever made" and said the move marks the "end of an era."Tesla began delivering the Cybertruck in late 2023 after years of delays. According to Kelley Blue Book, the company only sold 20,237 Cybertrucks in the U.S. last year – a 48% decline from 38,965 in 2024 – after Musk had predicted annual sales of 250,000 units when production started in 2023.The Cybertruck was initially unveiled in 2019, an event which took an unexpected turn when Musk attempted to prove its windows were shatterproof by hitting them with metal balls – thrown by Tesla's lead designer Franz von Holzhausen – but ended up cracking two of them after they were hit.ELON MUSK SAYS TESLA-SPACEX MERGER WOULD BE 'A GOOD IDEA' AS COMPANIES FORM SPECIAL COMMITTEESSince the Cybertruck officially debuted in 2023, Tesla has issued 11 recalls for the electric pickup, according to the National Highway Traffic Safety Administration. Some vehicles required physical repairs, while others were fixed with over-the-air software updates.Musk and Tesla are focusing on the Cybercab as the automaker pivots to focus more on AI and robotics, and the Cybercab will play a critical role in showcasing those capabilities as the company envisions it serving as the basis for a global network of robotaxis.Tesla's self-driving technology has faced years of delays, but the company was able to begin offering paid rides in a small fleet of Cybercabs in Austin in September.TESLA'S NEW ROADSTER MAKES A FLYING DEBUT, HITTING 60 MPH IN UNDER… [TheTopNews] Read More.3 days ago
- Tesla to wind down Cybertruck production in Texas next year to ramp Cybercab, Mu...The Cybertruck and its polarizing design gained a niche following, but it did not achieve mass-market sales and Tesla has issued several voluntary recalls. [TheTopNews] Read More.3 days ago
- Where’s the growth? Legacy automakers face a tougher 2027 as costs rise, m...Automakers are warning about higher commodity, logistics and memory costs, while pricing power is becoming harder to extend to consumers. [TheTopNews] Read More.3 days ago
- Small retailers brace for ‘huge hit’ this holiday season as shipping...As shipping costs surge due to high fuel prices, smaller and medium-sized retailers struggle to keep up, and they face a difficult holiday season. [TheTopNews] Read More.3 days ago
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