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ERROR: type should be string, got "https://www.barrons.com/articles/for-uber-drivers-the-key-to-making-more-money-could-be-a-used-toyota-prius-51569024001\nFor Uber Drivers, the Key to Making More Money Could be a Used Toyota Prius\nSept. 20, 2019 8:00 pm ET\nWolfe Research’s automotive team crunched the numbers and concluded that driving for Uber and Lyft is a tough way to make a living. But drivers might not be alone. California’s recent law designating gig-economy workers as employees and not contractors could mean that the money-losing companies struggle to make ends meet, too.\nWolfe estimates that a ride on Uber or Lyft costs about $1.90 a mile, with $1.40 going to drivers. But car ownership costs run 50 to 60 cents a mile, meaning that drivers net about 85 cents a mile. Wolfe’s numbers are top-down national averages; the reality is more complex. At that rate, drivers have to travel 38,000 miles with paying fares annually to earn the median income of $32,000—that’s 150 revenue-generating miles daily—roughly from Manhattan to Springfield, Mass.—working five days a week.\nThat’s not easy. The average ride is five to six miles, says Wedbush’s Dan Ives. And half of a driver’s time is spent searching for rides. More positively, adds Wolfe analyst Dan Galves, “the cost per mile drops as the number of miles increases.”\nOne solution for drivers: hybrid or electric vehicles. “EVs make sense in higher-use settings,” says Galves. They get better mileage, and gas savings grow the more you drive. EVs are pricey when new because batteries are costly, but buying used ones can lessen the pain. A 2015 Toyota Prius that gets 50 miles a gallon can be had for less than $14,000, says Kelly Blue Book.\nOf course, the ultimate path to profits for Uber and Lyft may require another innovation, albeit one that leaves drivers at the curb: autonomous taxis.\nA Down Week for Stocks\nAfter a nifty rally, investors were in a wait-and-see mood as three big events unfolded: the rise and fall of energy prices after the attack on Saudi oil-and-gas facilities, the Federal Reserve’s decision to cut rates, and a strike at General Motors. Their conclusion was downbeat. For the week, the Dow industrials fell 1%, to 26,935.07; the S&P 500 shed 0.5%, to 2992.07; and the Nasdaq Composite lost 0.7%, to 8117.67.\nOil Strike and Fallout\nA drone attack knocked out 5.7 million barrels a day of oil production in Saudi Arabia, sending Brent crude futures prices spiking 15%, to $69 a barrel, before slipping back. Houthi rebels in Yemen took credit, but U.S. intelligence blamed Iran. The Saudis raced to get supply back on-line, and President Donald Trump authorized use of the U.S. oil reserve if necessary. Trump had early on declared the U.S. “locked and loaded” depending on “verification,” then reduced his threats against Iran, saying U.S. action would depend on the Saudis, and then threatened greater sanctions. Iran denied making the attacks.\nNo Surprise Fed\nThe Federal Reserve, as expected, lowered interest rates by a quarter point, despite three dissenting votes on the Federal Open Market Committee. Fed Chairman Jerome Powell was cautious in his statement, notably on the effects of trade disputes. Trump then tweeted that Powell was a poor “communicator.” The Fed joins a global rate-cutting trend. Separately, the New York Fed injected $50 billion on Tuesday and $75 billion a day through Friday into the repurchase market after rates spiked to 10%.\nStriking GM\nOver 46,000 General Motors members of the United Automobile Workers went on strike after negotiations broke down. The strike, the first at GM since 2007, came after talks stalled over pay, job security, pension contributions, and GM’s plant-closure policy. The strike will cost from $50 million to $100 million a day.\nIsrael Split\nThe Israeli elections remained too close to call, with Benny Gantz’s Blue and White Party running neck-and-neck with Prime Minister Benjamin Netanyahu’s Likud. A period of coalition building began, as the blocs maneuvered for control. Netanyahu was finally forced to seek a unity government with Gantz, who rejected the plan and declared victory.\nThe Week in Deals\nPurdue Pharma filed for bankruptcy, asking a judge for a nine-month halt on some 2,600 lawsuits against it. Purdue lawyers also asked the court to shield the Sackler family, which owns the company, from further litigation. We Co. put off its initial public offering over weak investor support. And AT&T said it was exploring options for its DirectTV satellite business.\nWolfe Research’s automotive team crunched the numbers and concluded that driving for Uber and Lyft is a tough way to make a living."