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Ford recalling 433k cars for engines that don't shut off

Ford Motor Company has announced an enormous recall affecting 433,000 vehicles built between April 2014 and June 2015. There's a problem with the body control module in the affected vehicles that can prevent them from turning off, even if the key is removed from the ignition or stop/start button has been pressed. Individual models include the Focus and C-Max, both built at the Michigan Assembly Plant. The defective Foci were built between June 17, 2014 and June 12, 2015, while the C-Maxes were built between April 22, 2014 and June 12, 2015. Also affected are model year 2015 Escape CUVs, built at the Louisville Assembly Plant in Kentucky, between April 1, 2014 and June 12, 2015. As is usually the case, the overwhelming majority of vehicles – 374,381 – are registered in the United States, while the 52,180 are in Canada and 5,135 are in Mexico. The Blue Oval is not aware of any injuries or accidents due to this defect. Individual consumers, meanwhile, will need to report into dealers to have the body control module's software updated. Scroll down for the brief press release from Ford. Related Video: FORD ISSUES SAFETY COMPLIANCE RECALL IN NORTH AMERICA DEARBORN, Mich., July 2, 2015 – Ford Motor Company is issuing a safety compliance recall for approximately 433,000 vehicles in North America, including certain 2015 Focus, C-MAX and Escape vehicles, for an issue with the body control module. In these vehicles, it could be possible for the engine to continue to run after turning the ignition key to the "off" position and removing the key, or after pressing the Engine Start/Stop button. This is a compliance issue with FMVSS 114 regarding theft protection and rollaway prevention. Ford is not aware of any accidents or injuries associated with this issue. Affected vehicles include certain 2015 Focus vehicles built at Michigan Assembly Plant from June 17, 2014, through June 12, 2015; certain 2015 C-MAX vehicles built at Michigan Assembly Plant from April 22, 2014, through June 12, 2015; and certain 2015 Escape vehicles built at Louisville Assembly Plant from April 1, 2014, through June 12, 2015. There are 432,096 vehicles in North America, including 374,781 in the United States and federalized territories, 52,180 in Canada and 5,135 in Mexico. Dealers will update the body control module software at no cost to the customer.

Buy Ford and GM stock and make 5%

Want to make a five-percent return when 10-year treasuries are paying around two percent? Ford (F) and General Motors (GM) have solid balance sheets, strong cash flow, solid earnings, and growing markets. By all accounts, they are smart investments. But the market is down on these stocks. Why? Some of the stupid excuses include: They are cyclical companies The Detroit 3 have lost 3.5 million in sales since 2000 The world economy is shaky GM recently filed for bankruptcy Their markets have peaked They haven't changed their ways Let's take these criticisms one by one: They Are Cyclical Companies Yes, they are cyclical. Every company is cyclical. Every industry is cyclical. Some more than others, but not every company is immune from swings in the market. Banks used to be 'non-cyclical' leader, not anymore. Airline stocks are just as cyclical as auto stocks, yet they are trading at multiples greater than the auto industry. Why? And what accounts for the irrational stock price for Tesla (TSLA)? At least Ford (F) and General Motors (GM) make money and have positive cash flows. In fact, both companies have a net positive cash position. They have more cash on hand than liabilities. Auto sales in the United States hit a record 17.5 million vehicles in 2015. During the Great Recession, Ford (F) and General Motors (GM) cut their break even points to 10 million vehicles per year. Anything above an annual U.S. volume of 10 million vehicles is profit. And what a profit they make. Sales of Ford's F-150 continues to be the best-selling vehicle in the United States for over 30 years. Detroit 3 Have Lost 3.5 million in Sales Since 2000 Automotive News reports General Motors (GM), Ford (F) and Chrysler (FCA) have lost a combined 3.5 million vehicles sales since 2000. So how can they be making more money? Two big reasons – Fleet Sales and the UAW. Fleet Sales The Detroit 3 used to own car rental companies to keep their factories running. Ford owned Hertz (HTZ), General Motors owned all of National Car Rental and 29 percent of Avis, and Chrysler, the forerunner to Fiat Chrysler (FCA), used to own Thrifty Car Rental and Dollar Rent-A-Car. The Detroit 3 owned these rental companies to have a place to sell their bad product and keep their factories running. These were low margin sales, and in many cases, were money losers for the Detroit 3. They no longer own auto rental companies.

Leno recalls '90s showdown with Tim Allen and his mullet

Not many of us have buddies with garages full of classic cars, but that isn't the case for Jay Leno and Tim Allen. Of course, one of the advantages for two guys with such vast collections is occasionally getting to pit their cars against each other. The two comedians did just that in the mid-'90s with a burnout battle on The Tonight Show between Allen in a race-prepped Mustang and Leno in a drag racer. After some time away from regular television, Leno is returning to the airwaves with a Jay Leno's Garage series premiering on Oct. 7 (tonight) at 10:00 p.m. ET on CNBC. Let this clip serve as another taste of what to expect for the new TV show's mix of comedy and cars. After reminiscing about the old days in a gorgeous garage, the comedians get into two modern machines to reprise the classic challenge – after a little trash talk anyway. Don't worry because the YouTube series isn't going anywhere, though.