BFOX

Louisville born and raised, Proud supporter of all programs U of L and proud supporter of my 3 wonderful offspring! Single dad to them and a great sheltie!

[BFOX @BarryFox07]

@BiggestBiscuit

[Anish Moonka @anishmoonka]

Carvana made about $6,800 in profit on every car they sold last quarter. The typical used car dealer makes around $1,500. Carvana makes four times as much because the car is just the start of what they sell you.

About 85 out of every 100 Carvana buyers finance the car through Carvana. At CarMax, their biggest competitor, the same number is closer to 40. When you click "finance" on Carvana's website, they write the loan at one interest rate, then sell that loan to a bank or pension fund within days. They keep the gap between what you pay and what the bank pays them. That gap, multiplied across hundreds of thousands of buyers, is how they print money.

Then come the add-ons. An extended warranty. Coverage that pays off your loan if the car gets totaled. An insurance referral to Root, a digital car insurance company Carvana owns a piece of. Each one stacks on top of the same checkout. The car is the bait. The loan is the meal. Everything else is dessert.

This is why selling them your car at a price that felt too generous still works for them. The money they make on that trade-in shows up later, after the next buyer signs. They clean it up, sell it to someone else, and that someone else signs another Carvana loan.

This is also why they aren't going anywhere. In May 2022 they bought ADESA, a used car auction company, for $2.2 billion. ADESA came with 56 auction yards across the US. Now Carvana owns the auction yard, the body shop that fixes the car up, the trucks that deliver it, and the lender that funds the next buyer. Every step of that car's journey happens inside something Carvana owns.

Three years ago none of this looked like it would survive. Carvana's stock hit $3.55 in December 2022. They had over $5.7 billion in debt. The market thought they were going bankrupt. Then Apollo, a giant private equity firm, led a deal with their lenders that cut $1.2 billion of debt and pushed the deadlines out to 2028.

Last quarter they sold 187,000 cars and made $405 million in profit in 90 days. They joined the S&P 500 in December. Their market cap sits near $84 billion. Bigger than Ford.

The whole business looks confusing if you think of Carvana as a car company. The math gets simple once you see them as a lender that happens to deliver cars.

[Tre Richardson @Trerich20]

Excited to meet 55 student-athletes tomorrow at Dr. J. Blaine Hudson Middle School. Thank you for setting up the panel Q and A portion and allowing me time to take pics with the students. See you all tomorrow 💪🏾. Best part, I get to have my son with me.
“For we are His workmanship, created in Christ Jesus for good works, which God prepared beforehand that we should walk in them.” Ephesians 2:10.

[BFOX @BarryFox07]

@Dodgers That’s another Louisville Cardinal on the Dodgers….L’s up

[State of Louisville @thestateoflou]

“Hand that man a crown.”

The irreplaceable, incredible voice of Sean Moth.

No one better to call Tague’s record home run.

[BFOX @BarryFox07]

@20th_Centurygal Derby concert in Louisville, Ky in May of 1980 . The Baby’s killed it opening for Journey, and Steve Perry was horrible that night. Been a John Waite fan ever since.

[BFOX @BarryFox07]

@MikeBales I love you in a place where there's no space or time
Leon Russell

[Kelsey's Army @Kelseys_army]

Muhammed Ali and "502 made"?? I thought he hated the city? This recruitment gets stranger by the day.

[BFOX @BarryFox07]

@barrylongii Isaac Curtis

[BFOX @BarryFox07]

@TheCinesthetic

[BFOX @BarryFox07]

@20th_Centurygal A song for you

[Louisville Bats @LouisvilleBats]

We’ve heard the whispers, the comments, and the demands. it’s time to embrace our roots. Starting today, we’re retiring the red and bringing back purple! 🦇

Check out the full new look: https://t.co/nP7XswwYPI

[BFOX @BarryFox07]

@VinnysCorner1 I was born in 1963, I grew up in awe of the Pro’s in all sports. They were Legends.I was a Bengals fan, Reds fan, Ky Colonels…they were my hero’s. I reveled in watching them play the A’s, Dodgers and Pacer’s. No room to hate Joe Montana, Davey Lopez or George McGinnis tho.

[Paul Miles @PaulMiles840]

The first @UFLKings touchdown at Lynn Family Stadium 🏈

[Louisville Kings @UFLKings]

"I'm just so proud of this city and the opportunity we have. There's history out there waiting for us."

More from @Jbooty88 with head coach Chris Redman.

[James Larsen @JamesLarsenPFN]

FOR THE FIRST TIME...YOUR LOUISVILLE #KINGS

#UFL

[Louisville Kings @UFLKings]

Louisville, we're off to the races...meet DERBY 👑

[Mike Netter @nettermike]

Last week in Baltimore, Uber charged me $85 for a trip that usually costs $20. So today, I called Lyft and was picked up by a guy named Mike. He was driving a red F-150, clearly a work truck, full of tools and lumber...

I sat up front.

“How far to the airport,” I asked.

“Fifteen minutes,” he said. “You in a hurry?”

“Not really,” I said. “Are you?”

“Never.”

As we merged onto the road and settled into the slow lane, I asked Mike if he was a carpenter in real life.

“Among other things,” he said.

“Jack of all trades?”

“Well, I don’t know about that,” he said. A while ago, I was a plumber’s helper. Then I worked in the heating and air condition game.”

“How was that?,” I asked.

“Hot and cold,” he said.

I couldn’t tell if he was making a joke or not. His voice had a midwestern drawl with no expression on his face.

“After that, I started carpentry. Trim, then framing."

“You retired now?

“No. I build campers these days.”

“What kind of campers?” I asked.

“I build them small ones you can tow most anywhere. They call ‘em teardrop trailers. I build ‘em by hand, one at a time.”

“Yeah? How’s the quality,” I asked.

“Pretty good,” he said.

“Got a website?” I asked.

“Sure,” he said.

“What’s your website called?” I asked.

“Mike’s Pretty Good Campers.”

“Your company is called 'Mike’s Pretty Good Campers?'”

“I like to manage expectations,” said Mike.

"Under promise and over deliver?"

"That's the idea," said Mike.

"Is that what you were doing before you picked me up? Building a pretty good camper?”

“Yup. But I was frustrated. I don’t work when I’m frustrated. So, every now and then I step away.”

“And drive a stranger to the airport?” I said.

“Never too frustrated to drive.” said Mike. “Driving relaxes me. Besides, we ain’t strangers no more, are we?”

“No,” I said. “I suppose not.”

As we turned on Airport Road, I said, “So what’s the plan? Wait for another call? Or head back to the shop?”

“Ain’t decided yet. Guess I'll see how I feel in a few minutes.”

“Good plan,” I said. “By the way, if I like your website, do you care if I share it on Facebook?”

“Why do you want to do that?” he asked.

“I’ve got a few people who follow me on social media. Maybe some want a pretty good camper, custom made by a quasi-retired carpenter who drives for Lyft when he's frustrated?”

“Can’t hurt,” said Mike. “Once people see these things, they fall in love with ‘em. They got conventions all over the country for teardrop trailer owners. Thousands show up.”

As we pulled up to the airport, Mike asked me what carrier I was on.

“American,” I said. “Right here is fine.”

“Pre-check?” he asked.

“Yes,” I said.

We pulled up to the curb. I hopped out, as Mike dragged my bags out of the bed of his truck.

“You look familiar,” he said. “Have I driven you before?”

“I don’t think so,” I said. “I would have remembered. Thanks for the lift.”

“No problem,” he said. “Was the ride okay?”

"Pretty Good"

Source: Mike Rowe

[BFOX @BarryFox07]

@sean_burg99 Fool in the rain