6 Most Important Things in Business Today: Effect of Election

By Douglas A. McIntyre Updated Jan 11, 3:17PM EST · Published Nov 7, 5:01AM EST

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6 Most Important Things in Business Today: Effect of Election — © tupungato / Getty Images

The Democrats won the House and Republicans won the Senate. This likely will set up a series of battles with President Trump that will range from taxes to immigration.

Boeing Corp. (NYSE: BA) may tell owners of its new 737 that it has a flaw that must be corrected. According to Reuters:

Boeing Co is planning to send a bulletin to 737 MAX jet operators as soon as Wednesday advising them of the procedure for dealing with erroneous cockpit readings that could cause a dive, a person briefed on the matter told Reuters.

The advice is based on preliminary information gathered in the investigation of a Lion Air flight that crashed in Indonesia last week killing all 189 on board, the person said.

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Papa John’s International Inc. (NASDAQ: PAPA) posted ugly results as it tries to recover from a scandal involving its founder. According to The Wall Street Journal:

Papa John’s International Inc. reported a fourth consecutive quarter of declining sales, adding pressure on the pizza chain to try to revive its business in ways that could include a sale of the company.

Same-store sales in North America fell 9.8% in the third quarter, beating expectations of a 10.8% decline. Shares rose 3.5% in after-hours trading on Tuesday.

Toyota Motor Corp. (NYSE: TM) may kill some of the cars it sells in the United States as demand moves to sport utility vehicles and crossovers. According to The Wall Street Journal:

Toyota Motor Corp. may drop some underperforming models in the U.S., its head of North American operations said.

“We are taking a hard look at all the segments we compete in, to make sure we are competing in profitable segments and that products that we sell have strategic value to the brand,” Jim Lentz said Tuesday.

Models under the microscope include fuel-sipping cars that have lost out to sport-utility vehicles, Mr. Lentz said—such as the subcompact Yaris, whose U.S. sales have plummeted this year.

A Tesla Inc. (NASDAQ: TSLA) investor said the company should have been taken private. According to CNBC:

Elon Musk could have saved himself some trouble by taking Tesla private, according to early investor and prominent Silicon Valley venture capitalist Tim Draper.

In an interview with CNBC at the Web Summit conference in Lisbon on Tuesday, Draper said Elon Musk made a “human” mistake when he tweeted he had secured funding to take Tesla private in August. The Securities and Exchange Commission (SEC) charged Musk with misleading investors, ultimately costing the company $20 million in settlement fees and Musk his title as Tesla chairman.

The head of JPMorgan Chase & Co. (NYSE: JPM) says he does not expect a recession soon. According to CNN Business:

Jamie Dimon thinks the US economy is doing just fine — and it could get even better.

The chairman and CEO of JPMorgan Chase, the nation’s largest bank, disagrees with economists predicting an imminent recession. Some believe the economy will turn south because of a trade war with China and rising interest rates.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.