The President's Daily Brief - PDB Afternoon Bulletin | June 20th, 2024: Fast-Tracking Missiles to Ukraine & Digital Chaos in US Auto Industry

Episode Date: June 20, 2024

In this episode of The PDB Afternoon Bulletin: An announcement from the Biden Administration could mean a major boost for Ukrainian air defense, with the White House planning to pause the delivery of Patriot interceptor missiles to other nations so it can fast-track orders for Kyiv. A major cyberattack is underway across the US, affecting thousands of car dealerships and throwing the industry into chaos. This incident highlights the danger digital sabotage poses to the American economy. To listen to the show ad-free, become a premium member of The President’s Daily Brief by visiting PDBPremium.com. Please remember to subscribe if you enjoyed this episode of The President's Daily Brief Email: [e-mail] Learn more about your ad choices. Visit megaphone.fm/adchoices

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You talking to me? Kayak, got that right. This episode is brought to you by Patreon. Great Great Great Gold Group. Protect your retirement assets from turbulent times. Speak with the experts at Patriot Gold. Now, they've been the top-rated gold IRA dealer for seven years in a row. Think about that. Seven years in a row. It's a lot of years in a row. Go to Patriotigoldgroup.com or call 1-888-8-621-3-856 for a free investor guide. It's Thursday, 20 June. Welcome to the PDB afternoon bulletin. I'm Mike Baker. Your eyes in ears on the world stage. Let's get briefed. First, an announcement from the Biden administration could mean a major boost for Ukrainian air defenses, with the White House planning to pause the delivery of Patriot Interceptor missiles to other nations in order to fast-track orders for Kiv. And a major cyber attack is underway across the U.S., affecting thousands of car dealerships and

throwing the industry, frankly, into chaos. This incident, once again, highlights the danger that digital sabotage poses to the American economy. But first, our afternoon spotlight. Some good news for Keebb today as it continues efforts to shore up its air defenses. Now, the U.S. has announced its intention to halt the delivery of Patriot Interceptor missiles to other nations so it can fast-track orders for Ukraine. In other words, those interceptors will now be heading. to the front lines in Ukraine just as quickly as they can roll off the assembly line. Officials haven't said how many interceptors it would send, but noted that Ukraine would be prioritized over the next 16 months. Estimates place the cost of the missiles for the Patriot missile

system at around $3 million to $4 billion each. Now that's on top of the actual system itself, which comes in at around $1 billion for each system. It's a bit more if you get the floor mats and tinted windows. According to our report in the Financial Times, Washington has briefed all of the countries that are affected by what they're calling the re-sinquencing of patriot deliveries. The countries that are most likely to be impacted are South Korea and the United Arab Emirates, both of which operate Patriot Systems as part of their own defense networks. A senior White House official said that the decision, quote, demonstrates our commitment to supporting our partners when they're in existential danger. danger," he added that the move was also meant to send a message to Russia, which thinks it can simply outlast Ukraine. Now, this isn't the only good news that Kiev received today on the Air Defense Front.

Romania also announced today that they would be donating one of their Patriot missile systems to Ukraine. Romanian defense officials said that the donation was made, quote, on the condition that our country continues negotiations with allies, in particular the U.S., with a view to obtaining a similar or equivalent system to protect its own airspace. In other words, the U.S. will be backfilling the hole that the donation leaves in Romania's own air defenses. Ukraine reportedly has at least four Patriot systems at present, which have been provided by the U.S. and Germany, and that includes the system that Biden announced would be delivered last week. The Romanian

system would bring the total to five. In addition, Italy said this month that it would send Keeve a second S-A-M-P-T air defense system. Now, that's the European-made alternative to the Patriot System. In the past, Ukrainian officials have said they need a minimum of seven Patriot Systems to effectively cover the country's airspace, which is roughly the size of Texas. There's one more related story here that I wanted to bring to your attention that demonstrates the value that these Patriot Systems are bringing to the battlefield. You may remember, back in January, we reported that a Russian A-50 airborne early warning and control aircraft was shot down over the sea of Azov. It was a painful

loss for Russian armed forces, as it's an expensive piece of equipment, and they've only got about half a dozen of them. At the time, the Russian Federation claimed the downing of the spy plane was caused by friendly fire. Well, it turns out the Russian Federation was lying, and I know, hold on, let me put on my surprised face. It's now been revealed that the Russian A-50 was actually taken down by a Patriot missile, apparently the first time that this system has been used to take down a target like this. The news was confirmed by Colonel Rosanna-Clemente, the Assistant Chief of Staff of the 10th Army Air and Missile Defense Command. Clemente called the Downing Historic for the system, calling what happened a Sambush or Service to Air Missile Ambush,

if you're not familiar with Army lingo and Washington, D.C. acronyms, and nobody, nobody loves acronyms more than the military and Washington, D.C. Okay, coming up after the break, a major cyber attack is underway in the U.S. Now, you might not have heard about this unless, perhaps, you're in the market for a new automobile. I'll have the details when we come back.

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lifeproof with petproof technology, home decorators collection, and traffic master carcets. Save 10% and get 12 months special financing. Now at the Home Depot. Offer valid April 16th through May 3, 2006. Exclusions apply for licenses. See Home Depot.com slash license numbers. Welcome back to the PDB afternoon bulletin. Chaos erupted in the U.S. auto industry this week as a series of cyber attacks crippled CDK

global, a leading software provider, for auto dealership. The attacks forced the company to shut down most of its systems, effectively halting sales operations and potentially losing customer data at roughly 15,000 dealerships nationwide. CDK Global supplies crucial software for inventory and payroll, managing sales, and other services to auto dealerships. And that includes the biggest names in the business, General Motors, Group One Automotive, and Holman. In addition, the company works with more than 1,000 heavy truck locations across North America. The impact of the cyber attack was immediate.

CDK Global's dealer management system, or DMS, and retail tools were taken offline completely. Despite CDK Global's emphasis on its cybersecurity capabilities, the attacks revealed some serious vulnerabilities in its defenses. The cyber attack comes just days after a separate incident, pushed the Findlayer, Automotive Group offline. On Wednesday, after the initial attack, CDK announced that it was taking precautionary measures by shutting down most systems. Dealership employees resorted to workarounds like spreadsheets and manual records, pencils and actual paper, to handle smaller transactions and repairs, but larger sales were put on hold. Later in the day, some systems, including the core DMS and digital retailing solutions, which are dealer profit-assist software tools, were restored after

extensive testing and consultations with third-party experts. However, just as systems were coming back online today, CDK Global faced a second cyber attack. In a statement, the company said, quote, out of continued caution and to protect our customers, we are once again proactively shutting down most of our systems, end quote. CDK Global has not a lot of announced when normal operations will resume yet. They're currently contacting customers with initial guidance on how to proceed and safeguard their data. The identity of the attackers and the use of ransomware, well, that remains under investigation. Now, you might be thinking to yourself, all right, that's interesting, but what's the big deal? It's just car sales. Well, the incident

likely represents tens of millions of dollars in lost revenue for car dealerships around the country. The system that was attacked also holds vast amounts of sensitive customer data, such as financial information, making them prime targets for cybercriminals. More broadly, the incident also demonstrates the vulnerability of our digital infrastructure and how an attack on a single system can bring an industry to a halt. And that, my friends, is the PDB afternoon bulletin for Thursday, 20 June. If you want to listen to the show ad-free, please be sure to check out our premium membership. And remember to tune into our extended weekend version, the PDB Situation Report. It's news, terrific guests, information, all without bloviating or that heavy, gassy, after-feeling of too much opinion. I'm Mike Baker.

I'll be back tomorrow. Until then, stay informed. Stay safe. Stay cool. All. Pay off your home. Travel for life. Drive a Ferrari.

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