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We made it through another holiday season, which we hope was a healthy and relaxing time for you and your loved ones. One thing is for sure, 2024 is going to be a monumental year. Will we finally see that recession they promised years ago, or will we continue to put it off? With several trouble spots overseas, will we see a spike in oil prices or other unexpected hits to our economy? Here’s a few things we hope to see in the next 12 months.
- Continued trend of lower fuel prices: Hallelujah, gas prices are still going down, with some parts of the US paying closer to $2 per gallon than $3. However, diesel remains stubbornly high around $4 per gallon on average, although that is nearly $2 less than its peak in the summer of 2022. Even if you don’t have any diesel vehicles, it impacts anything you buy.
- Lower consumer prices: Yes, the rate of inflation has dropped from its 2022 high, but that doesn’t necessarily mean that prices have gone down. No one is excited about spending 20 percent more on office toilet paper or car parts.
- Better interest rates: We were spoiled for a long time with very low interest rates for everything from purchasing cars to securing real estate, but the increases throughout 2022 and 2023 have revealed just how impactful it can be in a consumer economy. All indicators point toward a scaled lowering of the rate by the end of 2024.
- Passage of the FAA Reauthorization Act: We’re a business that runs on the whims of the airlines, so major delays and cancelations make it difficult for us to manage chauffeurs’ time, who end up having to deal with frustrated passengers. And it’s not just the flight, but TSA, baggage claim, and all the ancillary services around travel. On-time performance has improved, but it can only get better.
- EV Infrastructure: Vehicles aside (the OEMs are doing some cool things with their current and future models), the mandates that a quarter of the states have initiated are going to be here before we know it, which means the clock is ticking on having the infrastructure in place. According to the New York Times, except for a few select pockets of the country, the rollout of building public EV charging stations has been slow, despite the money being available from D.C. Regardless of where you stand on the issue, this is an enormous shift in how we interact with our cars, so we need to get this right before we jump from “gas and go” to “charge and wait.” If you’ve been to a Costco gas line on a Saturday, you understand the need for enough pumps—and those don't require 45+ minutes per car. They've pushed back REAL ID enforcement a few times, so maybe we'll see it here too.
- Smart expansion of technology, including AI: We like how technology has improved many areas of our lives—from cars and back-office software to tracking and countless business operations. We hope it remains cost-effective and is used for helpful purposes—safely and without a whole new set of problems (we’re talking about you, cyberattacks). Also remember, you’re still a service company.
- Let cooler heads prevail during this election year: Whether you’re a verified news junkie, agnostic about politics, or avoid it like the plague, there’s no escaping the fact that we’re as polarized as ever. In the past few years, politics has bled over into things that shouldn’t be partisan, and it’s making too many of us cranky or worse, mean. We’re all impacted by our elected representatives (state, local, and federal), but maybe let’s take down the temperature a bit on “hating” our political opposites and just continue making some money off these crazy races. The first one begins in less than two weeks… Sigh.
- Continued economic prosperity: May 2024’s revenue be as strong as 2023’s. Enough said.
We’re sure we missed a few, so what’s on your wish list? If nothing else, it’s a leap year, so enjoy your bonus day this February. Happy New Year from the CD team!
[01.02.24]
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- Category: Industry News
Cadillac is all-in for its growing electric vehicle lineup, which includes three new planned models that were announced in 2023 alone. Following the debut of the Escalade IQ and the Optiq, its smallest entry-level electric SUV, the automaker shared that the Vistiq would be available as a MY 2026.
Although the press release was short on details (they will be announcing more later this year on this and other models), Cadillac did share that the vehicle is a three-row SUV and falls between the current Lyriq (its crossover/sedan that was released a few years ago) and the upcoming Escalade IQ, the electric version of our industry’s staple large SUV that should be available this year as a MY 2025.
“Vistiq adds another compelling EV to the Cadillac lineup, reinforcing our commitment to an electric future,” said VP of Global Cadillac John Roth in the company announcement. “Our brand now has an EV entry in most luxury segments, offering customers a range of choices, and Cadillac EVs will cover most luxury SUV segments across critical global markets in the next two years."
No word yet on pricing or which new EVs will be part of any fleet programs/incentives.
Visit cadillac.com for more information.
[01.02.24]
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J. J. Keller & Associates announced today that Robert L. Keller is retiring as chairman of the company's board of directors effective January 1, 2024, becoming chairman emeritus. James J. Keller, currently treasurer and vice chairman of the board, will become chairman, effective the same day.
Brothers Robert Keller and James Keller—the second generation of the Keller family to have led the family-owned company—both played key roles in evolving the company their father, John J. Keller, founded in 1953, growing it from a one-man consulting firm for the transportation industry to a diversified company with more than 2,000 associates today.
Upon retiring as chairman of the board, Robert Keller leaves a legacy of care for the company’s associates and a focus on operational excellence that has enabled the company to become a trusted name in safety and regulatory compliance solutions for multiple industries across North America.
Starting with J. J. Keller & Associates in 1957, at age 11, to help his father by doing odd jobs, Robert Keller has spent his entire career with the company. After earning an economics degree from the University of Wisconsin Oshkosh, he held a series of leadership roles within the company before becoming president in 1974, CEO in 1988 and then chairman of the board.
"In my time as chairman, the company grew from $100 million to nearly $400 million in less than 20 years,” said Robert Keller. “The company successfully navigated the financial crisis, a transition to technology in both process and product/service lines, leadership succession and the retirement of hundreds of management and professional/technical positions. I enjoyed the leadership challenge and supporting our CEO and leadership team."
James Keller, incoming chairman of the J. J. Keller board of directors, also began working for the company at age 11. After receiving a degree from Madison Area Technical College, in Madison, Wisc., with a focus on printing, he led the company's initial printing and distribution operations. He served as president beginning in 2006, president and CEO from 2012 to 2013, along with holding vice chair and treasurer positions on the board.
As the incoming chairman of the board, James Keller will work closely with J. J. Keller CEO Rustin Keller and the executive leadership team to ensure the company's continued growth and success.
“I am very pleased with leading J. J. Keller & Associates, Inc. as chairman of the board,” said James Keller. “I have been involved for over 50 years with numerous positions, including past vice chairman, president/CEO and treasurer.
“My dad and our founder, John J. Keller, and then my brother Bob Keller were chairmen since 1953. These past 70 years have been very successful under their leadership. We have an experienced executive leadership team that has the company going full speed ahead into the future. We are all very proud of the company, what we stand for, and our 2,200 associates, who make J. J. Keller an accredited 'Great Place to Work.'”
The nine-person board of directors for privately owned J. J. Keller & Associates, Inc. comprises family members and external directors and advisors.
J. J. Keller & Associates, Inc. is a leading provider of safety and regulatory compliance solutions for businesses in various industries. With a commitment to innovation and customer service, the company helps organizations navigate complex regulations and maintain a safe work environment.
Visit jjkeller.com for more information.
[12.28.23]