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Small Business Lifestyle

What Does Trump’s Pick of Howard Lutnick as Commerce Secretary Mean for the Economy? [Video]

President-Elect Donald Trump is turning to a Wall Street veteran and key campaign supporter to join his cabinet as a top business advisor.

Trump confirmed Tuesday that Cantor Fitzgerald CEO Howard Lutnick is his choice for Commerce Secretary. Lutnick has been serving as the co-chair of the team managing Trump’s transition to the White House. In the Commerce Secretary role, Lutnick would represent U.S. businesses on the president’s cabinet while also promoting job growth and economic development.

The Commerce Department‘s oversight includes agencies and organizations that help promote U.S. business and the economy, including the Bureau of Economic Analysis, the Census Bureau, the National Oceanic and Atmospheric Administration and the Patent and Trademark Office. 

Tariffs are one issue on which Trump will likely seek support from Lutnick.

As Commerce Secretary, Lutnick would oversee the International Trade Administration.

In a recent interview with podcaster Anthony Pompliano, Lutnick said tariffs could replace income tax revenue, …

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Small Business Lifestyle

Stellantis recalls Jeep and Dodge SUVs to fix computer problem that can disable brake safety devices [Video]

Stellantis is recalling about 207,000 Jeep and Dodge SUVs in the U.S. to fix a computer problem that can disable the anti-lock brakes and electronic stability control safety features.Video above: This app will help you stay on top of food recallsThe recall covers certain 2018 and 2019 Jeep Grand Cherokee and Dodge Durango SUVs.Stellantis says in government recall documents posted on Wednesday that the SUVs may have a brake control computer that falsely reads brake pressure. The computer can disable the safety features, illuminate the brake lights and let a driver shift out of park without putting a foot on the brake pedal. That can cause unintended movement.The documents say the company is still developing a repair. Owners will be notified by letter starting Thursday. People with questions can call Stellantis customer service at (800) 853-1403.The same models were recalled in 2022 for a similar problem that did not address the brake light or antilock brake and electronic stability control issues.The National Highway Traffic Safety Administration says in the documents that vehicles repaired in the 2022 recall will have to be fixed again.Stellantis documents say the company had 533 warranty claims related to the problem as of Oct. 14, but it's not aware of any crashes or injuries.

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Small Business Lifestyle

North Carolina political experts weigh in on Donald Trump's plan to end the Department of Education [Video]

Donald Trump has promised to end the Department of Education. As the president-elect prepares to transition to power, the question remains of when that promise will become reality.Political science experts say this is a wait-and-see situation.TOP STORIES3 men, 1 woman wanted after vehicle chase on Interstate 40, Davie County officials sayWoman dies after car plunges down embankment along closed part of Interstate 40, authorities sayOne person hospitalized after assault in GreensboroGet the latest news stories of interest by clicking hereThe Department of Education was established as a federal agency in 1980 by Congress and currently serves more than 50 million students across 98,000 public schools and 32,000 private schools.Political science professors from Wake Forest, High Point University and North Carolina A&T say it would take congressional action to eliminate it, but theres no guarantee that a majority of Republicans in the House or Senate would agree to that proposal.A big question is, if the DOE is eliminated, what will happen to education funding?Professor John Dinan of Wake Forest University said the vast majority of K-12 education funding comes from state and local governments. The Department of Education manages and distributes a limited amount of money among K-12 schools.Dr. Briana Hyman of NCA&T told WXII this isnt the first time nixing the Department of Education has been proposed. One of the Department of Education's most important responsibilities is overseeing financial aid for colleges and universities. If it goes through, it could make higher education harder to attain for students across the country."The funding aspect is going to be super critical for our students," she said. "A great portion of NCA&T's students rely on federal funds to pay for their education, not just tuition, but also, you know, other fees and housing and things like that associated with coming to school."Hyman said thats not the only challenge college students could potentially face. Title IX protections would also be at risk. "How would we make sure that our students' civil rights are being upheld? How would we make sure that their privacy concerns are being heard and upheld," she asked. "Specifically for HBCUs, we are historically underfunded anyway. To add to that would be quite detrimental."Dinan said that if the Department of Education were to go, those responsibilities would still need to be fulfilled. "Those functions that the education department currently performs are mandated by federal law," he said. "They would have to be performed, if not by the education department, by some other department or other officials." Professor Martin Kifer of High Point University said it will take congressional action to make such a major change. "There are all these issues about what would have to happen with programs that you didn't want to totally do away with," he said. "It's too soon to say exactly what the president-elect will eventually be able to do with the Department of Education." In the meantime, Hyman said there is a way for higher education to prepare. Watch: NOWCAST streaming newscasts"Advocate for the protections of funding for colleges and universities and HBCUs with legislative officials," she said. "Because, again, that would be a way that we could kind of circumvent things." Because this isn't a change that would happen overnight, Dinan suggested its possible the incoming Trump administration will focus on staffing at top positions of the Department of Education to gradually shape education policy. NAVIGATE: Home | Weather | Watch NOWCAST TV | Local News | National | News We Love |TRENDING STORIES