Proterra, a California-based electric bus manufacturer and energy storage developer repeatedly hailed by President Biden, filed for bankruptcy yesterday, causing the company’s shares to tank. Jennifer Granholm, Biden’s Secretary of Energy, previously served on Proterra’s board and pocketed $1.6 million when she sold her shares to an undisclosed buyer.
Studies show that humans have as many as 86,000 thoughts a day. I took an inventory of some of mine and the results weren’t pretty.
The Department of Energy’s sweetheart $9.2 billion loan to Ford Motor Co. to finance the company’s EV projects in Tennessee and Kentucky had a bad odor to it. Thankfully, Wyoming Republican Senator John Barrasso agrees, and a letter he wrote to Energy Secretary Jennifer Granholm helped connect the dots.
Today marks the three-year anniversary of San Francisco Mayor London Breed’s media celebrated decision to reduce the city’s law enforcement budget by $120 million and redirect the funds to better serve the city’s African American community. Now some city officials want to bring back a security protection initiative from the lawless days of the Gold Rush that likely only the affluent can afford.
The media isn’t fond of Stellantis CEO Carlos Tavares because he says demand for EVs are artificially driven by government mandates and subsidies and complying with those mandates could lead to a shortage of raw materials necessary to produce enough battery driven vehicles.
Nevertheless, Stellantis has ambitious EV plans for the U.S. market, including launching a truck with 500 miles of range that could prove a competitive threat to GM’s and Ford’s lucrative truck businesses.
Unlike the CEOs of GM and Ford, Tavares has demonstrated he knows how to execute.
Some Wall Street Journal and Reuters news exclusives this week forced me to accept that corporate morals and ethics no longer matter.
Some musings while signing my mortgage closing documents and getting my teeth cleaned today.
Some thoughts on the less than Six Degrees of Separation between Hollywood’s striking workers and the workers at GM’s Ohio electric battery plant.
Reading up on the latest wrongdoing in U.S. banking and finance I was struck just how much the industry has changed since the days of Milburn Drysdale of Beverly Hillbillies fame.
By today’s banking standards, Drysdale was an upstanding executive.
If Americans understood the billions of their taxpayer dollars the Biden Administration is squandering pursuing its failed EV policies, they might finally demand the competent political and corporate leadership that’s so desperately needed. The linked story is my attempt to generate some necessary collective anger.