The United Steelworkers (USW) announced yesterday that they are welcoming around 80 tech workers employed by Google contractor HCL Technologies as new members. The HCL workers voted to join the union despite of a company-led anti-union campaign.
The workers, who are staffed at the tech giant’s Bakery Square office alongside Google employees are seeking a voice on the job and the opportunity to bargain over wages and working conditions.
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California Governor Gavin Newsom, United Nations Special Envoy for Climate Action Michael R. Bloomberg, and Planet, a San Francisco-based earth imaging company, today announced a new enterprise that will use satellite data to inform and accelerate climate protection.
The coordinated effort, called Satellites for Climate Action, will bring together governments, philanthropists, environmental groups and technology companies to use satellite technologies to monitor greenhouse gas emissions and turn satellite data into actionable information. Continue reading
Hyundai Motor Group and Aptiv say they will be forming an autonomous driving joint venture. This partnership brings together a vehicle technology supplier and one of the world’s largest vehicle manufacturers. The joint venture -it’s claimed – will advance the design, development and commercialization of SAE Level 4 and 5 autonomous technologies. The JV will begin testing fully driverless systems in 2020 and have a production-ready autonomous driving platform available for robotaxi providers, fleet operators, and automotive manufacturers in 2022. Aptiv conducted the first coast-to-coast automated drive in the United States in 2015 and was the first to commercially deploy autonomous vehicles globally. (SAE Autonomous Driving Levels)
As part of the agreement, Hyundai Motor Group and Aptiv will each have a 50% ownership in the joint venture, valued at a total of $4 billion. Aptiv will contribute its autonomous driving technology, intellectual property, and approximately 700 employees generic nexium online focused on the development of scalable autonomous driving solutions. Hyundai Motor Group affiliates — Hyundai Motor, Kia Motors and Hyundai Mobis — will collectively contribute $1.6 billion in cash at closing and $ 0.4 billion in vehicle engineering services, R&D resources, and access to intellectual property. The transaction is subject to regulatory approval and other customary conditions and is expected to close early in the second quarter of 2020. Continue reading
Prison?
The Brunswick (Germany) public prosecutor’s office announced today that it had brought an indictment against the former Chairman of the Board of Management of Volkswagen AG, Prof. Martin Winterkorn, as well as against the Chairman of the Supervisory Board, Hans Dieter Pötsch, and the Chairman of the Board of Management, Herbert Diess, for the charge of market manipulation. The cases will now be examined by an independent court that could impose jail time, which is virtually unheard of for this level of (alleged) white collar criminals.
As a result, the Supervisory Board of Volkswagen AG hastily convened a meeting, claiming that it was unaware that the indictments were coming since it was allegedly cooperating in the investigation by the public prosecutor. It will also meet again tomorrow to discuss what is company threatening development. Continue reading
“We are not yet at the level that we aim to reach in the medium to long term,” said Dieter Zetsche, now retired, but a decade ago Chairman of the Daimler Board and Head of Mercedes-Benz Cars as the diesel engine fraud was well underway. It ain’t over…
The multi-billion-euro German Dieselgate scandal continues to pollute the images and empty the coffers of German automakers today as Daimler said it would pay a fine of 870 million euros for selling Mercedes-Benz diesel cars that polluted more than allowed since 2008. The Stuttgart public prosecutor issued a fine notice against Daimler AG pursuant to Sections 30 para. 1, 130 para. 1 of the Administrative Offenses Act based on a negligent violation of supervisory duties in the area of vehicle certification in connection with deviations from regulatory requirements in Mercedes-Benz diesel vehicles.
The negligent violation of supervisory duties occurred on the department head level. It appears that the Daimler has refrained from taking a legal action challenging the fine notice because senior executives are not implicated. The public prosecutor’s administrative offense proceeding against Daimler AG is thereby concluded. This is not so at Volkswagen Group where senior executives were indicted today. Continue reading
Colton Herta leads the start of the IRL Grand Prix of Monterey.
Team Penske’s Josef Newgarden (No. 2 Hitachi Chevrolet), a 28-year-old from Hendersonville, TN clinched his second series title in the last three years by finishing eighth in Sunday’s double points race at Laguna Seca. He joined Sam Hornish Jr. as the only Americans to win multiple series crowns since 1995.
Newgarden entered the race needing a fourth-place finish to secure the title regardless of the performances of his fellow contenders, Andretti Autosport’s Alexander Rossi (No. 27 NAPA AUTO PARTS Honda), teammate Simon Pagenaud (No. 22 DXC Technology Team Penske Chevrolet). Pagenaud finished fourth in the race and second in the series championship, 25 behind Newgarden. Rossi took sixth to finish third in the championship, 33 back of the champion. Rossi came in 41 points behind, Pagenaud 42.
Newgarden gave team owner Roger Penske his 16th series championship, including the fourth in the last six years. Josef Newgarden didn’t have a race-winning car on Sunday afternoon, but his eighth-place finish was enough for him to earn his second Series Championship, and Team Penske’s 16th. Continue reading
The $140 million in undisclosed compensation and retirement benefits was never paid out to Ghosn.
After fraudulently concealing from investors more than $140 million of compensation and retirement benefits, Nissan, Carlos Ghosn and Greg Kelly have negotiated cut a bargain plea deal with the U.S. Securities and Exchange Commission. *Nissan, Ghosn, and Kelly settled without admitting or denying the SEC’s allegations and findings. In an administrative proceeding, the Commission charged Nissan with violating the anti-fraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. (Nissan CEO Hiroto Saikawa Forced Out Over Ghosn Matter)
Nissan settled the charges, agreeing to pay a $15 million civil penalty and to cease and desist from committing or causing violations of the anti-fraud provisions. To settle the charges, Ghosn and Kelly agreed to be permanently enjoined from violating or aiding and abetting violations of the anti-fraud provisions. Ghosn also agreed to a $1 million civil penalty and a 10-year officer and director bar. Kelly agreed to a $100,000 penalty, a five-year officer and director bar and a five-year suspension from practicing or appearing before the Commission as an attorney. Critics no doubt will say the settlement is laughable given the amount of money involved. Continue reading
“We’re done being in the middle of the herd on this issue—we’ve decided to use our size and scale to make a difference,” said Jeff Bezos, Amazon founder and CEO.
The business world continues to speed past the anti-environmental Trump agenda, reflecting the views of customer, not self-interested bought and paid for politicians. In the latest example, Amazon says it wants net zero carbon by 2040 and 100% renewable energy by 2030. It backed up its green words with green cash yesterday by announcing that it will purchase 100,000 fully-electric delivery vehicles from Rivian – apparently the largest order ever for electric delivery vehicles – and devote $100 million to reforestation projects around the world to begin removing carbon from the atmosphere now.
It’s part of the so-called Climate Pledge, a commitment to meet the Paris Agreement 10 years early. Amazon is the first signatory of this pledge, and it will hardly be the last. The Climate Pledge calls on signatories to be net zero carbon across their businesses by 2040—a decade ahead of the Paris Accord’s goal of 2050. Continue reading
Tropical forests are on the verge of losing their role as one of the world’s biggest carbon sinks.
The California Air Resources Board today endorsed a “science-based” standard that is claimed to help protect tropical forests*, their communities and natural biodiversity for decades to come.
The so-called Tropical Forest Standard – a decade in the making – is the first government-enacted, global standard for maintaining and protecting tropical forests throughout an entire state or province by incentivizing responsible action and investment.” The standard provides a minimum set of requirements for such large-scale programs to reduce emissions from tropical deforestation. Continue reading
Available through Ford dealers for $1,495 before installation.
Taking a page from the Mopar and the aftermarket, Ranger and F-150 owners can now buy the first-ever Ford Performance off-road leveling kits with tuned suspension. Yes, the era of the performance truck is well underway as growing OE and aftermarket offerings keep expanding. (New Colorado ZR2 – an Off-Road Performance Pickup, More Trucks – Chevrolet Colorado ZR2 Bison, Chevy Performance Releases Colorado ZR2 Race Parts, First Look – New or Revised 2020 Jeep Gladiator)
Most Ranger and F-150 trucks are purchased with four-wheel drive, and it’s said the leveling kits will enable off-road drivers to risk more challenging terrain. Beyond adding additional ground clearance, off-road performance is improved with Ford truck-optimized FOX shocks. Continue reading
Well, one real no-deal point is now clear – health care costs.
On Monday night as UAW workers from nearly 70 facilities in 19 states were standing on the picket lines, GM chose to terminate their health coverage immediately. The company’s decision was made without any warning to the UAW, leaving more than 48,000 members and their families at risk of being suddenly uninsured.
The UAW activated the strike fund as soon as it became aware of GM’s strategic (ham-fisted?) decision to cut healthcare. (Watch Laura Prater Video) Continue reading
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Last Sunday morning the UAW declared a national strike on General Motors, leading to ~46,000 hourly workers to walking off at 11:59 p.m. This is the first UAW national strike since 2007. Yesterday morning negotiations resumed. (Teamsters to Honor Picket Lines of 50,000 UAW GM Workers, General Motors Offers UAW $7 Billion in U.S. Investments, an $8000 “Signing Bonus” or is that Bribe?, UAW to Strike GM – Contract Talks Deadlocked)
The two sides claim to be at odds over wages, benefits, investments, job security and temporary workers, but the real sticking points that mean no deal are not publicly known. How far apart the sides really are will determine the length and cost of the strike. The strike shuts down more than 30 manufacturing plants in the US, including 12 vehicle assembly plants and eight engine and transmission plants. Worse, the Teamsters won’t deliver vehicles in inventory to dealers. (The GM Grinch that Stole Christmas, or Did It?) Continue reading
Sonic Financial Corporation (“Sonic Financial”) and Speedway Motorsports (NYSE: TRK) today announced that Sonic Financial’s tender offer to purchase all outstanding shares of common stock of Speedway Motorsports expired one-minute past 11:59 p.m., New York City time, on September 16, 2019. This means that barring a last minute legal challenge Speedway will be taken private and no longer publicly traded and subject to stock exchange rules. (Speedway Motorsports Ownership Scuffle Underway)
Sonic Financial intends “to promptly complete the acquisition of all shares of Speedway Motorsports through a merger of Speedway Motorsports and a subsidiary of Sonic Financial, without a vote of Speedway Motorsports stockholders, in accordance with Delaware law.” Continue reading
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“Teamsters and the UAW have a decades-long relationship of having each other’s back. And that continues with the UAW’s notification that it will go out on strike against General Motors at midnight. Our 1.4 million members stand in solidarity with the UAW and will honor their picket lines,” said Teamsters General President Jim Hoffa this afternoon.
“We laud the UAW for its work to ensure that its GM employees are treated with respect and dignity on the job. At a time when more and more companies are downsizing and shipping jobs out of the U.S., it is imperative that unions fight for their members. Workers should be rewarded for good work with fair wages and benefits. That’s what the UAW is demanding.”
Bentley Bentayga Hybrid Has 24-Mile Electric Range
With a 3.0-liter turbocharged V6 gas engine and an electric motor, a maximum speed of 254 km/h (158 mph) and 0 to 100 km/h in 5.5 seconds (0-60 mph in 5.2 seconds) are claimed. It’s the first baby step on the road to Bentley’s new line of electric vehicles, which will see the marque roll out an electrified version of every nameplate by 2023.
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