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A123 Systems receives interim court approval of $50M DIP financing from Wanxiang; responds to objections from Wanxiang, Fisker and others on asset sales process

Green Car Congress

announced that the United States Bankruptcy Court for the District of Delaware (the "Court") has granted A123 interim approval to use $50 million of Debtor-in-Possession (DIP) financing, which is being provided by Wanxiang Group Corporation (Wanxiang). Li-ion maker A123 Systems, Inc. Earlier post.). Earlier post , earlier post.)

Financing 225
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AI Has Created a Battle Over Web Crawling

Cars That Think

Instead, they’re made up of public data that was created by all of us—anyone who’s ever written a blog post, posted a video, commented on a Reddit thread, or done basically anything else online. Longpre: The tragedy of this is that robots.txt is machine-readable but does not appear to be legally enforceable. Longpre: Exactly.

Legal 145
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Ford Walks Back DEI Work As Some On the Internet Complain

The Truth About Cars

The automaker recently told workers that it would modify its DEI initiative to allow all employees, and said that it would end its work with the Human Rights Campaign’s Corporate Equality Index. The external and legal environment related to political and social issues continues to evolve.”

Ford 109
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General Motors to Move from Long-Running Detroit HQ Into a New Location Across Town

The Truth About Cars

He did say that GM’s executives and corporate offices, including finance, legal, and other departments would make the move. That’s a significant reduction from RenCen’s 2.3 million square feet. GM President Mark Reuss said the company hadn’t determined how many employees would move to the new location.

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Sounds Like Alfa Romeo Doesn’t Want Electric Quadrifoglio Models

The Truth About Cars

Automakers assumed EVs would be highly profitable due to their requiring fewer hands on the assembly line, ability to circumvent government emission regulations, benefiting from corporate ESG (Environmental, Social, and Governance) investments, and the associated government incentives designed to boost consumer demand.

Dodge 62
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Stellantis Investors Fume Over CEO Pay Amid Job Cuts, Plant Closures, Supplier Strife

The Truth About Cars

Investors, in particular European ones, are becoming increasingly sensitive to social aspects of corporates [sic],” Charles Pinel, CEO of Proxinvest, told Bloomberg in a recent interview. Legal challenges have also been raised on behalf of the manufacturer.

Legal 113
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Battle of the (Anti-Nausea) Bands

Cars That Think

In order to build a market for the app, though, either through a direct-to-consumer approach in which additional services and information supplement the free app, or through emerging corporate wellness digital formularies, Bucklin said there needs to be plenty of that survey and usage data testifying to the app's utility. youtu.be.

San Diego 104