Business
GM Axes Largest Silverado Trucks as Sales Collapse Triggers Factory Shutdowns
DETROIT — General Motors will discontinue its largest and most expensive Silverado pickup models by the end of 2026, the company confirmed Thursday, as plummeting demand for heavy-duty trucks forces major production cuts and widespread factory fallout across the American Midwest.
The decision affects the top-tier Silverado 2500HD and 3500HD models, particularly the high-output diesel versions and luxury-oriented trims that once commanded six-figure prices. GM cited a sharp sales decline of more than 35 percent year-over-year for these heavy-duty variants, driven by high interest rates, softening demand in the construction and agriculture sectors, and growing consumer preference for smaller, more efficient pickups and electric alternatives.
“After careful review of market trends and customer needs, we are streamlining our heavy-duty truck lineup to focus on the models that best serve today’s buyers,” GM spokesperson Dan Flores said in a statement. “This allows us to allocate resources more efficiently while continuing to deliver the capability our customers expect from the Silverado name.”
The move will result in the idling of production lines at GM’s Fort Wayne Assembly plant in Indiana and significant reductions at the Flint Truck Assembly plant in Michigan. Union officials estimate up to 1,800 jobs could be affected in the coming months, though GM says it will offer buyouts, early retirements and transfers where possible.
Sales Collapse Hits Hard
Heavy-duty truck sales have weakened across the industry in 2026, but the impact has been particularly severe for GM. Industry data shows full-size pickup sales overall are down 12 percent this year, with the heaviest segments suffering the steepest declines. Rising fuel prices, elevated financing costs and economic uncertainty have caused many fleet buyers and individual customers to delay or downsize purchases.
Competitors Ford and Ram have also seen softening demand but have maintained stronger order banks through aggressive incentives and refreshed lineups. GM’s decision to eliminate its largest Silverado variants leaves a gap at the top of the market, potentially ceding ground to rivals offering high-end diesel and luxury options.
Analysts say the move reflects broader challenges facing the American truck market as buyers shift toward midsize pickups, electric vehicles and more fuel-efficient options. “The days of unlimited growth in the heavy-duty segment are over,” said Jeff Schuster, executive director of global forecasting at LMC Automotive. “GM is making a tough but necessary call to protect profitability and focus on where demand actually exists.”
Factory Fallout and Union Concerns
The production cuts are sending ripples through GM’s supply chain and local communities. The Fort Wayne plant, which builds heavy-duty Silverados, has already begun reducing shifts, and further layoffs appear inevitable. Union leaders at the United Auto Workers expressed disappointment but stopped short of immediate strike threats.
“This is devastating for workers and their families,” said UAW Local 1112 President David Green. “These are good-paying jobs that support entire communities. GM needs to do more to protect our members during this transition.”
GM has pledged to invest in retraining programs and explore electric vehicle production at affected facilities. The company is accelerating its shift toward electric and hybrid trucks, with the upcoming Silverado EV expected to play a larger role in the lineup going forward.
Strategic Shift Toward EVs and Efficiency
The discontinuation of the largest Silverado models aligns with GM’s broader strategy to electrify its truck portfolio. The company has invested billions in battery plants and EV platforms, aiming to have 30 percent of its North American sales be electric by 2030. Executives believe the future of heavy work lies in electric powertrains that offer instant torque and lower operating costs for fleet operators.
However, critics argue GM is moving too aggressively away from proven diesel technology while consumer adoption of electric trucks remains slow. The Silverado EV has received mixed reviews for its range and payload capabilities compared to traditional models, raising questions about whether the company can maintain its dominant position in the full-size truck segment.
“GM is betting big on electrification at a time when many buyers are still skeptical,” said Rebecca Lindland, an independent auto analyst. “Killing off the high-end diesel models could alienate loyal customers who need maximum capability and aren’t ready to go electric yet.”
Impact on Dealers and Customers
Dealers across the country are already feeling the effects. Many have large inventories of 2026 heavy-duty models that will now become harder to sell as the product winds down. GM has promised support programs including incentives and marketing assistance to help move remaining stock.
For customers who rely on heavy-duty trucks for towing, hauling and commercial work, the decision creates uncertainty. While GM says it will continue offering strong capability in remaining Silverado 1500 and refreshed 2500 models, some buyers worry about losing access to the most robust options in the lineup.
Fleet operators in construction, agriculture and energy sectors have expressed particular concern. “These big diesels are workhorses that get the job done,” said Mike Reynolds, owner of a large Midwest construction company. “If GM walks away from them, we may have to look at Ford or Ram more seriously.”
Broader Industry Trends
GM’s announcement reflects wider challenges facing American automakers as they navigate the transition to electric vehicles while traditional truck demand softens. Ford recently scaled back plans for its electric F-150 Lightning, and Stellantis has faced production issues with Ram EVs. The industry is learning that the shift away from internal combustion engines is proving more complex and slower than initially anticipated.
At the same time, rising competition from foreign manufacturers and new EV startups is pressuring legacy truck makers. Chinese brands are beginning to enter the North American market with competitive pricing, while established players like Toyota and Honda continue to gain share in the midsize segment.
GM’s Path Forward
Despite the heavy-duty cuts, GM remains committed to its truck business. The company is investing heavily in next-generation platforms that will include more hybrid options and improved efficiency across the Silverado range. Executives say the focus is on right-sizing the lineup to match current demand while preparing for a future where electrification plays a larger role.
For investors, the news has been met with mixed reactions. GM shares dipped slightly on the announcement but recovered as analysts noted the potential for improved margins by eliminating lower-volume, high-cost variants. The company’s overall truck business remains highly profitable, even with the adjustments.
As GM implements these changes, the coming months will reveal whether the strategy successfully balances short-term pain with long-term gain. The American pickup truck market, long a symbol of industrial strength and consumer aspiration, is evolving rapidly. How GM navigates this transition could shape not only its own future but the broader direction of the U.S. auto industry.
For workers, dealers and loyal customers, the decision brings uncertainty and disappointment. For GM leadership, it represents a difficult but necessary step toward a more sustainable and profitable future in an industry facing profound change. The coming year will test whether the company’s bold moves pay off or if the heavy-duty Silverado’s decline marks the beginning of a larger retreat from America’s love affair with big trucks.
Business
LeBron James Embraces TIME100 Sports Honor as He Reflects on Legacy and Fatherhood Milestone
LOS ANGELES — LeBron James, the Los Angeles Lakers forward and one of basketball’s most enduring superstars, expressed profound gratitude after being named the cover athlete for TIME magazine’s inaugural TIME100 Sports list in 2026, highlighting the recognition as a testament to his impact both on and off the court.
“Beyond Grateful and Blessed!! 🙏🏾👑” James posted on X following the announcement, underscoring his appreciation for the honor that positions him as a transformative figure in sports. The TIME profile, published ahead of the full list reveal, celebrates his redefinition of the modern athlete through record-breaking performance, business acumen, activism and family legacy.
At 41, James continues to defy expectations in his 23rd NBA season. He became the league’s all-time leading scorer in 2023 and has surpassed 50,000 career points when including playoffs. His longevity includes 22 consecutive All-Star selections and multiple All-NBA honors, alongside four NBA championships and league MVP awards.
Proudest Achievement: Playing Alongside Son Bronny
In the TIME cover story, James identified playing alongside his eldest son, Bronny James, as the pinnacle of his basketball career. The father-son duo made history as the first to share the court in an NBA playoff game during the 2026 postseason.
“Out of all the sh-t I’ve done in basketball, that’s the best accomplishment I’ve ever had,” James said. “The kid has earned his right to be a professional athlete.”
James has been vocal in defending his family’s journey, particularly against criticism directed at Bronny. He emphasized the importance of fatherhood and the values he instills, drawing from his own upbringing in Akron, Ohio, without a similar support system.
“The thing you’re not going to do is throw stones at us as a family. I’m not letting that sh-t slide, because I know what I’ve created because of what I didn’t have. So if you want to talk about the kid, that he shouldn’t be an NBA player, I don’t care about that. As long as you don’t get to the fatherhood piece. I don’t play those games,” he added.
The pair’s on-court connection has included notable moments, such as assists and shared minutes that captivated fans. Bronny, drafted by the Lakers, has navigated the spotlight while carving his own path under his father’s guidance.
LeBron on the GOAT Debate
James also addressed the perennial greatest-of-all-time discussion, placing himself at the top while acknowledging the perspectives of legends like Michael Jordan and Kobe Bryant.
“I’m not taking nobody over me,” James stated. “There’s no question. But I think Mike will say the same thing. Rest his soul, Kobe will say the same thing. Magic will say the same thing. Bird will say the same thing. Shaq could say the same thing.”
In other comments, James has noted stylistic differences with Jordan, describing his own game as that of a point-forward who prioritizes passing. “I never have compared myself to MJ because our games are totally different,” he said in a separate interview. “There are a lot of things where I would say my game is a lot different and a little better than his, but s—, he was f—ing great.”
His case rests on unparalleled versatility, longevity and off-court influence. Beyond scoring, James has shaped player empowerment, notably through his 2010 “Decision” and subsequent moves that prioritized agency. His business empire includes SpringHill Company, and he has invested in media, entertainment and community initiatives like the I Promise School in Akron.
Broader Impact and 2026 Outlook
The TIME100 Sports recognition arrives as James navigates another competitive season with the Lakers. Expectations remain high for him to contribute meaningfully, potentially extending his career for at least one more year to further bolster his resume.
His influence extends globally. From four Olympic gold medals to advocacy on social justice issues, James has leveraged his platform to drive change. The TIME profile details how he has bridged athletic excellence with cultural and economic power, becoming a billionaire athlete who redefines success.
Teammates and analysts praise his leadership and work ethic. Even as younger stars emerge, James’ presence elevates those around him, as evidenced by his mentorship of Bronny and other Lakers players. His ability to adapt — from explosive scorer to facilitator and veteran presence — exemplifies sustained excellence.
Family, Legacy and Future
James’ family life remains central. With wife Savannah and their children, including sons Bronny and Bryce and daughter Zhuri, he balances elite competition with personal milestones. The shared NBA journey with Bronny has created lasting memories, from regular-season games to playoff appearances.
Off the court, his ventures continue to expand. SpringHill has produced acclaimed projects, and his investments span technology, entertainment and health. These endeavors complement his on-court legacy, positioning him as a blueprint for future athletes.
As the 2026 NBA season progresses toward the Finals and beyond, James’ focus remains on team success while cherishing individual honors like the TIME recognition. His story from Akron prospect to global icon inspires generations, proving that resilience, vision and family can coexist with athletic greatness.
The TIME100 Sports list celebrates influencers across disciplines, with James leading the icons category. His selection reflects not only statistical dominance but also cultural resonance in an era of athlete activism and entrepreneurship.
Looking ahead, James has hinted at continued play while preparing for life beyond the court. Whether adding to his championship tally or expanding his business footprint, his trajectory suggests the chapter is far from closed. For fans and observers, the TIME honor serves as a timely affirmation of a career that has reshaped basketball and sports culture.
James’ response to the accolade embodies humility amid achievement. In a landscape of constant scrutiny, his emphasis on gratitude, family and legacy offers a model of perspective. As debates over greatness persist, his body of work — points, titles, influence and now father-son history — solidifies an unparalleled place in NBA lore.
Analysts anticipate his presence will remain pivotal for the Lakers, with potential playoff runs testing his enduring competitiveness. The TIME recognition caps a remarkable phase, celebrating an athlete who continues to evolve while honoring his roots and forward-looking vision. James’ journey underscores the power of purpose-driven excellence in sports and beyond.
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Spinnaker Developments is one step closer to building its $25.4 million apartment project in North Perth.
The Statutory Planning Committee, mainly comprising of Western Australian Planning Commission members, approved the Cottesloe-based developer’s application to build on 407- 409 Charles Street.
The development, dubbed Charles & Elizabeth House, comprises 52 apartments and communal facilities across a five-storey building, and 26 car parking bays.
City of Vincent mayor Alison Xamon, who presented at the committee meeting, said the recommended approval for the project was disappointing.
Ms Xamon said there were outstanding issues with the project’s lack of transition to the lower density areas and the shortfall in parking bays.
“The city requested either increased parking provisions or further evidence demonstrating that the shortfall would satisfy the relevant planning objectives including an assessment of available on-screen parking capacity but unfortunately no such assessment has been undertaken,” she said.
“The city’s preferred outcome is that the application be deferred to allow the western interface [transition] and associated parking matters to be resolved before determination.”
Committee members backed Spinnaker’s plan, with WAPC chair Emma Cole saying the development would be a positive addition to Charles Street.
“We’re looking at a site that’s about 3 kilometres from the CBD, it’s a transit corridor serviced by key bus routes,” she said at the meeting.
“It’s got really good amenities and facilities close by including the North Perth town centre, Angove Street shopping centre, parks… there’s a lot of amenity in the area in a walkable catchment.
“The car parking shortfall and the context of the location, the transit corridor, as well as accommodation for range of bicycle and motorcycle parking … is all accommodated and goes towards that reduction.”
Spinnaker’s project adds to a growing list of developments in North Perth, including an eight-storey apartment block at 299 Charles Street.
The $35 million plan to build 117 apartments at 299 Charles Street was approved in 2024.
Celsius Property Group’s $160 million proposal to build a nine-storey apartment building across six lots bound by Alma Road, Fitzgerald Street and Raglan Road was approved in early 2025.
The development will add 108 apartments to the area, as well as an office, retail and hospitality elements on the ground floor.
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Business
NLC India drops 3% even as gov OFS draws robust institutional demand; retail window opens today
Non-retail investors bid for over 13.03 crore shares worth Rs 4,158 crore, as against a base offer size of 2.49 crore shares reserved for them.
Shares of the Navratna PSU company tumbled more than 3% to trade at Rs 316.6 apiece on NSE.
NLC India announced on Monday that the government aims to sell 2% of the company’s total paid-up equity capital, or 2.78 crore shares, as part of the base offer.
The government also retained an oversubscription option to sell an additional 1% stake or 1.39 crore shares, taking the total potential offer size to 4.17 crore shares or 3% equity. At the floor price of Rs 303 per share, this would be worth around Rs 1,263.51 crore.
In an exchange filing released on Tuesday, NLC India said that the government will exercise the oversubscription option to sell up to 1.39 crore shares, in addition to the 2.77 crore shares that were part of the base offer. 10% of the equity shares offered in the OFS, which stands at nearly 41.52 lakh, will be available for retail investors today, subject to receipt of valid offers, the company said.
“Additionally, up to 25,000 equity shares may be offered to the eligible employees of the company…The eligible employees may apply for equity shares up to Rs 500,000. However, any bids by eligible employees will be considered for allocation, in the first instance, for an amount up to Rs 200,000 only,” it said.Also read: NLC India OFS over-subscribed 5 times, institutional buyers put in Rs 4,158 cr bids
NLC India, formerly known as Neyveli Lignite Corporation, is among India’s leading mining and power generation companies. It operates lignite mines and thermal power stations while also expanding its renewable energy portfolio. The company has emerged as a beneficiary of India’s rising power demand and the government’s focus on energy security. In recent years, the company has diversified beyond lignite mining into solar and other renewable energy projects as part of its long-term growth strategy.
NLC India shareholding pattern
The Central government owned a 72.20% stake in NLC India, according to data on the company’s shareholding pattern as on March 31, 2026. A total of 22 mutual funds held around 9.5% stake in NLC India, while Life Insurance Corporation of India (LIC) and SBI Life Insurance each held around 2% stake.
NLC India’s OFS comes as the government ramps up its disinvestment efforts. Recently, the government offloaded some of its stake in Coal India, NHPC and other PSU companies.
NLC India share price
NLC India shares have fallen around 8% in one week and 3% in one month. The stock is overall up around 25% in 2026 so far. In the longer term, the shares of the PSU have delivered 33% returns over one year, 220% over three years and 396% over five years. The company currently has a market capitalisation of nearly Rs 44,303 crore.
NLC India has maintained a track record of returning cash to shareholders through regular dividends. The company has declared 43 dividends since August 2000, and currently has a dividend yield of 1.6%, according to data on Trendlyne.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
According to the company, the proposed venture will manufacture and supply Optical Transceiver-SFP (Small Form-Factor Pluggable), BOSA (Bidirectional Optical Subassembly), and other telecom products that the parties mutually agree upon from time to time.
The proposed transaction will use a mutually agreed structure where Dixon Technologies will hold 60% of Dixon Electroconnect’s total paid-up share capital, while Gemtek will hold the remaining 40% stake upon completion.
The transaction remains subject to executing definitive agreements, fulfilling customary conditions precedent, and receiving applicable statutory, regulatory and other required approvals.
In its statement, Dixon said the proposed joint venture would focus on manufacturing optical transceivers, BOSA modules and networking equipment. The company stated that the partnership combines Dixon’s manufacturing capabilities with Gemtek’s experience in optical modules, telecom infrastructure and networking technologies.
Gemtek, in its statement, said the joint venture is part of its expansion in optical communication and aims to address demand related to high-speed networks and data centre infrastructure.
The company also stated that Dixon Electroconnect’s participation as a beneficiary under the ECMS is expected to support the proposed venture. The partnership is intended to operate in segments linked to data centres, telecom infrastructure, optical connectivity, cloud computing, edge computing and networking applications.Dixon Technologies reported a consolidated net profit at Rs 256 crore in the March-ended quarter versus Rs 401 crore in the year-ago period, implying a 36% fall. The profit after tax (PAT) was attributable to the company’s owners. The company’s revenue from operations in Q4FY26 was up 2% to Rs 10,511 crore versus Rs 10,293 crore posted in the corresponding quarter of the previous financial year.
Meanwhile, the company’s total income grew 3% year-on-year to Rs 10,595 crore versus Rs 10,304 crore in Q4FY25. It included other income of Rs 84 crore compared to Rs 11 crore in the year-ago period.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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LeBron James Embraces TIME100 Sports Honor as He Reflects on Legacy and Fatherhood Milestone
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