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Verizon Q1 solid, but wireless business has multiple moving parts ahead of 5G

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How 5G will transform business
The next generation of mobile technology, or 5G, has the potential to supercharge the evolution of everything from smart cities and autonomous cars to augmented reality and AI. Larry Dignan and Bill Detwiler talk about 5G and its potential.

Verizon reported a solid first quarter with better-than-expected earnings and outlook for 2019.

The company reported first quarter earnings of $1.22 a share, or $1.20 a share on a non-GAAP basis, on revenue of $32.1 billion.

Wall Street was expecting Verizon to report revenue of $32.16 billion with earnings of $1.17 a share.

Verizon said it added 61,000 retail postpaid net additions including 174,000 postpaid smartphone additions with retail postpaid churn of 1.12 percent with churn of 0.84 percent for phones.

CEO Hans Vestberg touted Verizon’s 5G rollout as a way of “expanding our high-valued customer relationships.”  

Verizon just turned on its 5G network in the US a week ahead of schedule |  CNET: Verizon’s 5G network launch was rocky at best, but it has a plan

Verizon noted that its first quarter capital expenditures were $4.3 billion due to the build out of its 5G network and data and video usage on its 4G LTE service.

In the wireless business, Verizon noted a series of moving parts. For instance, Verizon’s 61,000 retail postpaid net additions in the first quarter included 44,000 net phone losses, 156,000 net tablet losses offset by a 261,000 net adds due to wearable and connected devices.

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Meanwhile, customers are buying higher-priced plans with more connections per account.

Verizon also said it grew its wireline revenue 3.9 percent to $7.3 billion in the first quarter. FioS revenue was up 3.6 percent, but Verizon lost 53,000 FioS video connections and added 52,000 FioS Internet connections.

Media revenue from Verizon Media Group, which includes Yahoo and AOL, had revenue of $1.8 billion in the first quarter, down 7.2 percent from a year ago.

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For 2019, Verizon said it expects adjusted earnings growth in the low single digits, up from flat. Revenue will also grow in the low single digits percentage wise. Capital spending for 2019 will be $17 billion to $18 billion.  

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Cars

Check out the 2+2 Chevrolet Corvette that never was

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The 60s was an iconic era in the automotive realm in the United States, with some incredibly popular cars getting their start then Vehicles like the Ford Mustang, Chevrolet Camaro, Chevrolet Corvette, and Dodge Charger, to name a few. Sometimes it takes one vehicle to change the industry and spawn many similar products from the other automakers. Case in point is Ford and its Mustang, which kicked off the pony car era eliciting responses with other iconic vehicles.

Another of the iconic Ford vehicles in the era that sold extremely well was the Thunderbird. The Thunderbird routinely outsold the Chevrolet Corvette. Early in its production, the Thunderbird was a two-seat sports car very similar to the Corvette. It grew in later generations, becoming a 2+2, offering a back seat to carry more passengers. The vehicle in the image above looks like the iconic 60s split-window Corvettes that are so valuable today, but there’s a key difference.

The difference is readily apparent when you look at the side view image in the Instagram post below, where General Motors Design shared photos of a one-off design buck. A design buck is essentially the shell of the vehicle used by automotive designers of the day to get the vehicle’s design just right. This particular example was never powered and never cruised the streets.

The car was a response to the Thunderbird, adding backseats to the Corvette in 1962. Sadly, the 2+2 Corvette was never built, and reports indicate the design buck was later crushed. Another interesting tidbit is that GM reportedly brought in a Ferrari to help with the styling and proportions of the car.

As for what finally became of the project, a GM executive named Bunkie Knudsen, who was part of the styling team but wasn’t a fan of the project, reportedly worked to get the project scrapped. He believed it would taint the Corvette brand and wouldn’t sell in large enough numbers to justify building it. The only Corvettes ever sold by GM have all been two-seat sports cars.

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Alpha Motors Superwolf is a completely decked out electric pickup

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Alpha Motors unveiled a new version of its all-electric pickup called the Superwolf. The difference between this particular version of the truck and the ones that have been shown before is that the Superwolf is completely decked out with all sorts of accessories you might expect to find only on the aftermarket. One of the more interesting accessories seen on the truck is tube doors similar to what you commonly see on Jeeps.

Superwolf also has custom KMC wheels with large off-road tires, a custom front bumper with tow rings and skid plates, as well as a complete roof rack featuring an LED light bar and large locking case. In the bed of the truck is a rack that adds more style to the truck and supports the roof basket.

Under the doors are also compact step rails that look like they are intended to protect the vehicle’s body while off-roading. The truck also features wide fender flares and looks fantastic in general. Other interesting features of the truck include a bed cover that appears to be made out of aluminum and a rack that spans the bed allowing for items to be attached on top of the bed itself.

Several other accessories are available for the truck, including a bed extension and more. Other than the accessories, Superwolf features a driving range of up to 300 miles per charge. It has two motors for four-wheel drive and can reach 60 mph in 6.5 seconds. The truck has a tow rating of 6724 pounds and features a rapid charger with battery cooling and heating.

The truck’s interior can hold four passengers and has a digital display for the driver along with the wide-format center display. Bluetooth connectivity and premium sound are also featured. Superwolf can be reserved now with a starting MSRP listed at between $48,000 and $56,000.

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Classic 1967 Chevrolet Camaro Z/28 Trans Am racer heads to auction

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When it comes to muscle cars of the 60s, one of the most iconic is the Chevrolet Camaro. The value of a normal Chevrolet Camaro from the era is often very high. The value of this 1967 Chevrolet Camaro Z/28 Trans Am is even higher as it’s an actual successful racing car from the era. This vehicle is the first of six Sunoco Trans Am Camaros that Penske Racing built.

This particular car has an extensive racing history with drivers Mark Donohue and George Follmer behind the wheel. The car has been completely restored by Kevin McKay in its iconic Sunoco racing livery. The car is said to be one of the most significant Chevrolet-powered racing cars ever built. Because of its rarity and racing pedigree, the car is expected to bring as much as $2 million at auction in Pebble Beach.

The car features a 302 cubic inch overhead valve V-8 engine and a single four-barrel carburetor. It’s estimated to produce 450 horsepower and has a four-speed manual gearbox along with four-wheel hydraulic disc brakes. The front suspension is independent wishbone with coil springs, while the rear has a live axle with leaf springs, a setup common in the era.

The racing series the car was built for required a 302 cubic-inch engine. The Z/28 was born due to the need to produce examples for homologation. The Z/28 became the Camaro performance production model, with 602 examples being built in 1967. The first 25 of those cars off the assembly line were sent to racers. This particular car was the 14th produced and was sent to Roger Penske.

This car is the first of only six Penske Camaros built between 1967 and 1969. The auction house says that over $330,000 was spent to restore the iconic car completely. The car comes with a file documenting its extensive racing history and photos of the car as it was discovered and during its restoration.

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