Ford issues massive recall
Ford Motor Co. issued a massive safety recall affecting 10 vehicles Friday — including new versions of its popular Ford F-150, F-Series Super Duty, Expedition and bestselling Explorer — for issues including seats that may detach in a crash.
A statement released by Ford bundles the list of 665,154 vehicles into four safety recall categories for North America, noting that the company is not aware of any accidents or injuries associated with the problems. Consumers are urged to seek repair.
A recall for potential “lack of seat restraint in the event of a crash” includes:
• Certain 2018-20 Ford F-150, 2019-20 Ford F-Series Super Duty, 2018-19 Ford Explorer and 2019-20 Ford Expedition vehicles, and
• Certain 2020 Ford Explorer and 2020 Lincoln Aviator vehicles.
Ford said these affected vehicles may be missing a component required for seat back strength.
Consumers boost spending in July
U.S. consumer spending grew 0.6% in July, a healthy gain that suggests American shoppers are driving the economy forward.
The Commerce Department also said Friday that personal incomes rose just 0.1%, the smallest gain in 10 months. With spending ahead of incomes, the savings rate fell to 7.7%, the lowest since last November.
With trade war tensions discouraging business investment and cutting into exports, consumers are increasingly important to the U.S. economy. Household spending was the driver of growth in the April-June quarter, when it increased by the most in five years.
An inflation measure in the report increased 0.2% in July and 1.4% from a year earlier, evidence that inflation remains mild. Excluding food and energy, core prices rose 0.2% in July and 1.6% from a year ago.
Popeyes running out of chicken
A social media frenzy means Popeyes quickly ran out of its new, instantly iconic chicken sandwiches. Meanwhile, the U.S. poultry market is bursting with oversupply.
U.S. chicken companies are forecast to process a record 43.3 billion pounds of the meat in 2019, government data show. So why isn’t that enough to meet demand for the new sandwich? It comes down to needing a specific product at a specific time.
When restaurant chains contract with suppliers, they often have tight product specifications and buy a set volume, said Tom Elam, a consultant for the poultry industry. Specifications can include seasonings, coatings, and the size and thickness of the cut with very little variation, he said. In other words, there’s a glut of meat, but not all of it’s ready for Twitter sandwich fame.