The Interchange

Funding for transit, walking, and biking is at risk of disappearing on Sept. 30, threatening millions that cities and transportation agencies count on for bus and rail upgrades, sidewalks, bike networks, and safety‑oriented street redesigns. A lapse on that date can pause new awards, delay reimbursements, and force project sponsors to push back contracts, scale construction, or shelve near‑term improvements until program authority and timelines are resolved. The uncertainty complicates local matching commitments and long‑range planning, increasing the chance of higher costs and missed construction windows. Without swift action to keep programs operating past the deadline, communities are likely to face deferred projects, slower progress on network expansion, and setbacks for accessibility and safe‑routes priorities.

Union Pacific’s CEO discusses a potential acquisition of Norfolk Southern with Donald Trump, signaling interest in a transformational freight rail deal with national ramifications. Consolidating two major carriers would reshape routing, terminal operations, and service patterns for shippers, with consequences for network capacity, labor, and competitive access across key corridors. Any bid would have to be structured to withstand market scrutiny, secure financing, and address extensive regulatory review and public‑interest tests. Stakeholders from customers to local governments would scrutinize potential benefits and risks, including service reliability and pricing, before an agreement could advance.

Ram cancels its U.S. all‑electric pickup amid demand deceleration, pulling back from a planned entry in a segment that has seen slower‑than‑expected adoption of battery‑electric trucks. The move reflects a recalibration toward what current buyers are choosing and can afford, with product plans and rollout timing adjusted as charging availability, incentives, and costs evolve. Suppliers, dealers, and fleet customers now face revised timelines and assumptions, while competitors reassess pricing and inventory in a cooling market. The decision underscores how automakers are pacing EV investments and launches to align with actual order rates rather than earlier growth projections.

Tesla’s chair asserts that only Elon Musk can lead the company’s next chapter, framing leadership continuity as central to execution of its strategy and technology roadmap. The stance signals strong board support for Musk’s role at a time when investor attention is fixed on scaling manufacturing, advancing autonomy and AI initiatives, and navigating a more competitive EV market. The statement also raises governance and succession considerations, with implications for how the company aligns incentives, retains talent, and communicates long‑term priorities to shareholders, customers, and partners. Confidence in the current leadership is presented as integral to delivering the next phase of growth.