Foxconned in Ohio: Lordstown Motors down to zero?

 

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

Lordstown Motors debacle:  Better to lock the door and hide when Foxconn comes calling.  (9/5)

Illinois reporter recalls how Wisconsin governor Scott Walker got Foxconned.  (9/4)

Fisker enters follows the trail of Foxconn broken promises.  (9/2)

August

Foxconned in Ohio, just like we were in Wisconsin, Scott Walker.  (8/31)

Pollyanna lives in Lordstown.  (8/30)

Another passel of broken promises.  (8/23)

Apparently, former Ohio congressman Tim Ryan has never been to Wisconsin.  (8/15)

Lordstown Motors cautionary tale.  (8/10)

More evidence that everything that Foxconn touches in the USA turns to shit.  (8/8/)

Add Fisker to the list of those who have been Foxconned.  (8/6)

The production hell that was Lordstown Motors.  (8/2)

July

Another bad karma day for Lordstown Motors.  (7/28)

In the United States, it seems as though everything Foxconn touches turns to shit. (7/27)

More bad karma for Lordstown Motors.  (7/25)

Foxconn and Lordstown Motors engage in a war of words.  (7/24)

Take the money and run.  (7/18)

Lordstown Motors corporate welfare debacle in Ohio.  (7/17)

Wisconn Valley.  Voltage Valley.  File under 'Foxconned'.  (7/16).

Read a review of an EV truck you'll never drive.  (7/12)

Add India to the list of places where Foxconn has pulled out.  (7/11)

Lordstown Motors debacle: Sounds like Foxconn has more mischief up its sleeve.  (7/11)

Lordstown Motors continues to swirl down the toilet.  (7/10)

June

Embattled Lordstown continues to make headlines.  (6/29)

It's another Foxconn debacle as Lordstown Motors files for bankruptcy.  (6/27)

Vote of 'no confidence' from Lordstown Motors founder Steve Burns.  (6/22)

InvestsorPlace warns that Lordstown Motors RIDE will crash and burn.  (6/14)

Foxconn goes from Wisconsin bamboozle to Lordstown chicanery.  (6/13)

Lordstown/Foxconn EV debacle on verge of morphing into legal slugfest.  (6/11)

You're in for a bad RIDE with Lordstown Motors according to InvestorPlace.  (6/10)

Foxconn debacle at Lordstown is running on empty.  (6/5)

Foxconn/Lordstown Endurance partnership:  And the hits just keep on coming.  (6/3)

It's all over town, Lordstown's Endurance lacks endurance.  (6/2)

May

The slow drip of bad news out of Lordstown becomes a gusher, part 2.  (5/29)

The slow drip of bad news out of Lordstown becomes a gusher, part 1.  (5/29)

Not making good on a pledge?  It's a Foxconn speciality!  (5/28)

Foxconn/Lordstown Motors deal.  Tick.....tick.....tick..... (5/24)

January

Slow drip of bad news out of Lordstown continues for Foxconn.  (3/19)

2022

Slow drip of bad news out of Lordstown continues.  (5/22)

2021

Four years in, Foxconn still hopes to hit a bullseye.  (10/1)

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)

The collapse of Donald Trump's '8th Wonder of the World'.  (4/20)

2020

Apparently, that's not what Scott Walker heard.  (12/19)

Just wondering what else in this Foxconn op-ed is off the mark.  (11/17)

GET ME REWRITE: Two gullible guys from Racine County still believe anything Foxconn tells them.  (10/23)

Keeping tabs on Foxconn Place in

Eau Claire

Green Bay

Madison

Milwau

kee

Racine