Screenshot from 2020 video by Retiring Guy
Headline: Reuters, 9/5/2023
Bankrupt electric vehicle manufacturer Lordstown Motors has proposed to pay nothing for Taiwan's Foxconn's preferred equity shares, saying it will prioritize other shareholders if an ongoing sales effort generates enough cash to repay other debts.
Lordstown Motors, named for the Ohio town where it is based, filed a Chapter 11 plan Friday in Delaware bankruptcy court, outlining how it intends to distribute proceeds from an ongoing effort to sell its assets. Lordstown's Chapter 11 plan warned that the value of its assets is "necessarily speculative" at this stage in the bankruptcy and "could potentially be zero."
Other Foxconn and Foxconn/Lordstown posts:
2023
September
August
Lordstown Motors cautionary tale. (8/10)
July
More bad karma for Lordstown Motors. (7/25)
Take the money and run. (7/18)
June
May
January
2022
2021
GET ME REWRITE: Yes, Foxconn's $100 milion pledge to UW-Madison was nothing more than a cynical election ploy by Scott Walker. (8/11)
The mysteries of Foxconn (season 2). (5/12)
2020
GET ME REWRITE: Two gullible guys from Racine County still believe anything Foxconn tells them. (10/23)
Keeping tabs on Foxconn Place in
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