Retiring Guy's Digest

Sunday, June 11, 2023

GET ME REWRITE!! Lordstown/Foxconn EV debacle on verge of morphing into legal slugfest

Screenshot from 2020 video by Retiring Guy

Headline: TechCrunch, 6/9/2023

Lordstown said Friday in a regulatory filing that it will sue Foxconn if the company pulls out of an investment agreement and fails to buy nearly 10% of the EV company’s shares. The threat of litigation comes as Lordstown scrambles to raise capital and stay in business.
Lordstown said in its first-quarter earnings report that it would likely cease production of its Endurance pickup truck “in the near future” after repeated production delays, failing to find a strategic partner for the truck and extremely limited ability to raise capital in the current market environment. The EV maker, which became publicly traded following a merger with a special purpose acquisition company, has faced a long string of capital challenges and internal scandals.
In September 2021, it appeared that Lordstown had found a solution when Foxconn agreed to buy its 6.2-million-square-foot factory in Ohio and build its EVs. Foxconn agreed, at the time, to pay $230 million for the facility and buy about 10% of the Lordstown’s common stock for $47.3 million.
The relationship frayed, however, as Lordstown’s share price fell below $1, prompting Nasdaq to issue a delisting warning

Full video

Other Foxconn and Foxconn/Lordstown posts:

2023

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)

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)

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

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Racine

Meet the officers of the North Carolina Republican Party: white, homophobic, and gun crazy

Photos: North Carolina Republican Party

Headline: PBS News Hour, 6/10/2023

While the vote Saturday, which took place behind closed doors, cannot remove Tillis from office, supporters said they hope it sends a firm message of dissatisfaction. A two-thirds majority of the state party’s 1,801 voting delegates was needed for the resolution to pass, party spokesperson Jeff Moore said.
“We need people who are unwavering in their support for conservative ideals,” said Jim Forster, an 81-year-old delegate from Guilford. “His recent actions don’t reflect the party’s shift to the right — in fact, they’re moving in the exact wrong direction.”

Rebecca Weaver McMillan (1942-2023) Warren High School class of 1960

1960 Dragon yearbook

Source: Borden Funeral Home

1967 Warren City Directory

Weaver H Reed (Mary J) crane operator Pittsburgh-Des Moines h4 Olson Street
Weaver Rebecca R student r4 Alson Street

1983 Warren City Directory

Weaver Mary J Mrs nurses aide Warren General Hospital h4 Alson Street
Weaver Rebecca R student r4 Alson Street

Rebecca was one of the most consistently popular girl's names during the 20th century, never charting below #175. She spent 67 in the top 100, 12 of them in the top 20, and peaked at #10 in 1973 and 1974. She dropped below 200 in 2016.