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Volvo CEO Suggests He Can See a Future Without Station Wagons

Volvo CEO Suggests He Can See a Future Without Station Wagons

Yahoo07-03-2025

It wasn't long ago at all that Volvo quietly cancelled one of its last station wagons still sold in the United States. Now, any newly-designed replacements for the existing lineup of low-slung two-boxes future looks to be in doubt, based on Volvo CEO Jim Rowan's latest comments.
This week, British-based publications Auto Express and Autocar both reported that, when asked whether he could see a future for the brand without its traditional estate cars (station wagons, for us here in the U.S.), Rowan replied in the affirmative. 'Yes, because I think [the market has] changed, right?' he said.
Volvo still offers its lifted Cross Country versions of wagons to those of us stateside with the V60 Cross Country and V90 Cross Country. However, the hot V60 Polestar Engineered just got the axe, and the non-CC version of the V90 has been g0ne for a while. Rowan continued by explaining why wagons are going away.
'It's expensive to bring different models to the market, and it's expensive to keep those models in the market,' he said. 'So we need to make a choice: rather than bring out a [new] V90 for example, are we better to position [the XC60] in a slightly different way?"
"We have the Black Editions, we have the Cross Country editions – we now have different editions of the same base car. It's much, much cheaper, and much more cost effective for us to drive more volume through that same platform and that same form factor.'
In essence, it seems Volvo is betting that folks who traditionally buy its wagons will be content switching to an SUV, instead of simply switching brands. It's a bold stance, considering Volvo ditched both its V60 and V90 models in the U.K. in 2023 before bringing them back this year after realizing there's still customer demand.
Auto Express also talked with chief product and strategy officer Erik Severinson, who suggested Volvo is interested in pursuing more performance models.
'There is always a niche,' Severinson said. 'The sporty family car; there is someone who wants to have the versatility of a family car, but also the performance.'
Volvo is a good chunk of the way there already with some of its EVs: The new ES90 packs a huge 670 horsepower, and the super-tiny EX30 can boogie thanks to 422 horsepower and a 3.4-second 0-60 mph time. These cars aren't Polestar Engineered performance derivatives, but Volvo seems well set-up to take them the rest of the way, considering straight-line performance is abundantly present.
So at least there's a glimmer of hope for fun Volvos to come, among the sadness of its storied wagons likely being left to live out their days as-is. Volvo didn't come out and explicitly say it, but the chances of next-gen V60 and V90 Cross Country variants here in the U.S. look slim after Rowan's comments. The two lifted longroofs are still on sale today, though, so Volvo wagon devotees should get after them while they're around.
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Tender Store Owner Cheryl Daskas Dies at 71
Tender Store Owner Cheryl Daskas Dies at 71

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time32 minutes ago

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Tender Store Owner Cheryl Daskas Dies at 71

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Tender is known for its European designer labels, which prior to the store's opening were not in abundance in the Midwest. The pair owned the downtown building that houses Tender, and they shared a home as well. Daskas earned a bachelor's degree at Michigan State University before getting into fashion. During her high school and college years, she modeled for the Ford Motor Company, Hudson's department store and other brands, before deciding 'that's not where she was going to make her money,' her sister said. 'She said it was like looking for a job every day of your life. Our mother was a model too. She was British and Scandinavian. They were both so pretty.' Tender once resided next door to a leading designer retailer Linda Dresner. After Dresner shuttered that store, Tender picked up Dries Van Noten. It also sells Erdem, Simone Rocha and Ashlyn, a 2025 CFDA/Vogue Fashion Fund finalist, for its 3,000-square-foot shop. Lanvin was once a strong seller there, during the Alber Elbaz years, Carey said. With pale blue walls, architectural displays and top-shelf names, Tender looks more like the type of a polished retailer one finds in Manhattan or Los Angeles. Ashlyn's managing director Johanne Shepley Siff met the sisters 30 years ago in her former role as senior vice president of sales and marketing at Prada. Siff said, 'We've lost one of the gems of the specialty store business. Cheryl was a force. I called her a 'textile archeologist.' She could immediately identify products of integrity.' Sift added, 'Tender is one of the opinion leaders, and one of the go-to retailers at the high-end specialty store. They not only take the risk to identify emerging talent, but they also have the structure and wherewithal to introduce that talent to a customer they have cultivated to appreciate new talent.' Accustomed to working six days a week, Cheryl Daskas would arrive at 8:30 am, if a customer requested that. 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They took a highly personal approach to helping shoppers in the store and were also loyal supporters of the arts community through events and philanthropy in Birmingham, Carey said. Recalling how they collaborated on vintage jewelry shows at Tender on occasion, Carey said, 'Cheryl could sell like no one else could. Her heart was 100 percent in everything she did. Why do you want to do something if you're not going to do it well?' They would typically sell 150 of 200 items during a two-day sale. Kenneth Jay Lane items were of particular interest to shoppers and to Daskas, who would set aside five pairs of earrings for herself, Carey said. 'I would say, 'Cheryl, these are for the customers,' and she would say, 'Well, I'm a customer.'' But she wore them during the trunk show sales, and she was the showpiece, Carey said. 'And you're going to want them, if she's wearing them. Karen would not have done that. Karen would have sold them.' While Cheryl Daskas handled front-of-the house sales and the store's social media, Karen Daskas managed the buying trips. Off the clock, Cheryl Daskas enjoyed gardening, relaxing poolside, grilling and sharing meals and binge-watching shows with her sister. 'Every night we would tell eachother we loved eachother and give eachother a hug. We never fought except for a couple of sister squabbles,' Karen Daskas said. 'It's just a shock. We never got married and we didn't have kids. We have two little Kerry Terriers 'Whiskey' and 'Gogo.'' Daskas is survived by her sister. Best of WWD Kate Middleton's Looks at Trooping the Colour Through the Years [PHOTOS] Young Brooke Shields' Style Evolution, Archive Photos: From Runway Modeling & Red Carpets to Meeting Princess Diana The Most Memorable French Open Tennis Outfits With Serena Williams, Naomi Osaka & More [PHOTOS]

‘Please do not go to the airport': Sliver Airways leaves travelers stranded after airline abruptly shuts down
‘Please do not go to the airport': Sliver Airways leaves travelers stranded after airline abruptly shuts down

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‘Please do not go to the airport': Sliver Airways leaves travelers stranded after airline abruptly shuts down

There's missing a flight, and then there's missing every flight because your airline just went bankrupt. That's what happened to hundreds of travelers this week when Silver Airways, a Florida-based regional carrier, abruptly announced it was ceasing operations effective immediately. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Passengers flying between Florida, the Bahamas and the Caribbean were left at airports with no warning, no alternative flight plans and no customer service reps in sight. 'We regret to inform you that we are ceasing operations as of today, June 11, 2025,' the airline posted on Instagram. "Please do not go to the airport." The bankruptcy came with zero notice and even fewer answers, raising questions for customers who already paid for tickets. Here's what led to the airline's sudden nosedive — and what to do if your summer vacation just hit major turbulence. Silver Airways has officially flown its last mile. Roughly five months after filing for Chapter 11 bankruptcy, the Florida-based airline grounded all flights — and not because of stormy weather. In a recent statement, the company revealed it had sold its assets to another airline holding company as part of a restructuring effort. But instead of reviving the brand, the new owner decided to ground all operations. 'In an attempt to restructure in bankruptcy, Silver entered into a transaction to sell its assets to another airline holding company, who unfortunately has determined to not continue Silver's flight operations,' the airline wrote in a statement. Silver had hoped the bankruptcy would help secure new capital and offer a path toward financial recovery. Instead, the collapse has left travelers stranded and staff without jobs — a costly detour for everyone involved. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it If you're one of the many people left grounded by Silver's sudden shutdown, don't expect a refund from the airline itself. In its final Instagram post, the company made it clear that customers won't be reimbursed directly. But all hope isn't lost. According to the U.S. Department of Transportation, you might be able to recover your money depending on how you paid. If you bought your ticket with a credit card, you can file a dispute with your card issuer under the Fair Credit Billing Act. Be sure to include a copy of your ticket and receipt, and clearly explain that the airline has ceased operations and failed to deliver the service you paid for. Just don't wait too long. You typically have 60 days from the date your statement was issued — the one that includes the airfare charge — to file the dispute. If you booked through a travel agent or third-party site, it's worth reaching out to see if they can help secure a refund or offer any alternatives. Some agencies have extra protections or recourse built into their services. Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Ex-CPA admits to bank fraud conspiracy that cost lenders millions
Ex-CPA admits to bank fraud conspiracy that cost lenders millions

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Ex-CPA admits to bank fraud conspiracy that cost lenders millions

SPRINGFIELD — A former accountant pleaded guilty in federal court to participating in a conspiracy that prosecutors say obtained commercial mortgages for area properties using false information. Christine Gendron, 61, pleaded guilty before Judge Mark G. Mastroianni on Friday to one count of conspiracy to commit bank fraud, according to U.S. Attorney's Office spokesperson Caroline Ferguson. Gendron's sentencing is scheduled for Sept. 30. Gendron — whose certified public accountant status expired in June 2023 — described herself as 'resident CPA' of JLL Realty Developers, according to a statement of facts attached to her plea agreement signed April 16. She was sister to one of the partners of the company, Jeannette Norman. Norman's federal case is still pending. Norman, court documents note, was a vice president at Goldman Sachs between 1998 and 2007. The other partner of JLL Realty Developers was Louis Masaschi, Gendron's brother in law. In April, he pleaded guilty to wire fraud, aggravated identity theft and conspiracy to commit wire fraud. His sentencing is set for July. Gendron, the statement of facts reads, helped submit false documents, such as rent rolls, and profit and loss statements, starting in May 2016, to obtain commercial loans for properties in Connecticut and Western Massachusetts. The documents 'contained inflated monthly rental payments and lease expiration dates ... that bore the signatures of Masaschi or Norman, as well as the forged signatures of the tenants,' says the statement of facts. Prosecutors wrote in court documents that JLL Realty tried to obtain $60 million in commercial loans, although some financial institutions did not issue the money. 'After receiving these loans, Masachi, Norman, and their companies made some or no payments and ultimately defaulted on the loans, causing substantial loses to the commercial Lenders,' documents state. Altogether, the financial institutions lost $19.3 million. Among the affected financial institutions, Workers Credit Union loaned JLL Realty $11.5 million in 2018 after the group put up an East Longmeadow property as collateral. Ultimately, the Littleton-based financial institution lost $2 million, according to the statement of facts. In 2017, Springfield-based Freedom Credit Union lent the group $6.25 million based on the collateral of three properties in Springfield and ended up losing $5.37 million, according to court documents. A year later, JLL Realty tried to obtain a $400,000 loan from the credit union, but was unsuccessful. Meanwhile, Berkshire Bank denied JLL Realty's two applications for commercial loans in 2018, one for $11 million and another for $3 million, according to court records. The financial institutions did not immediately return requests for comments. Gendron, court documents state, did not personally guarantee the loan nor receive the proceeds of the loans. She only collected a salary at JLL Realty, which totaled about $393,000 between 2015 and 2022, court records say. Prosecutors in April sought the forfeiture of Gendron's full salary. Special agents with the FBI visited Gendron at her Feeding Hills home in May 2021, according to information filed with the court in April. 'Gendron falsely stated that she was unaware of any fraudulently obtained loans, and that it would surprise her that (her co-conspirators) would submit fraudulent documents to the bank,' prosecutors wrote. Gendron's attorney did not immediately return a request for comment. 'Clash of the Cans' mural contest transforms empty lot in Holyoke WMass shelter determined to make a difference — 14,000 cats and counting This WMass college is offering free course in AI essentials Westfield apartment fire claims life Read the original article on MassLive.

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