tyb
GM And LG Chem Launch $2.3 Billion Battery Joint Venture In Ohio For EV Push
General Motors CEO Mary Barra today announced a 50-50 joint venture with LG Chem valued at $2.3 billion to produce lithium-ion battery cells in Ohio. The plant will be located in Lordstown, near the recently shuttered Cruze assembly plant. The new facility will supply batteries for several upcoming GM battery electric vehicles including a pickup truck that goes into production in late 2021.
GM and LG have been working together since 2008 during development of the first generation Chevrolet Volt. Since then GM has used LG battery cells in almost all of the plug-in vehicles it has produced since the production launch of the Volt in late 2010.
Reports of a battery joint venture first surfaced in early September during UAW contract talks. GM had proposed using the existing Lordstown plant but that facility has since been sold to startup Lordstown Motors. The plant will employ up to 1,100 jobs.
While the new facility will initially focus on supplying batteries for GM vehicles, Barra did not rule out eventually providing batteries to other OEMs as it makes sense for the joint venture to be a successful business. The new partnership will also include joint product development of cells and chemistry.
https://www.forbes.com/sites/samabuelsamid/2019/12/05/gm-and-lg-chem-launch-23b-battery-joint-venture-in-ohio/#4ddd58dc5871
chek'd
made quite the ruckus, was young but remember
another resignation from the cesspool of wall st.
BlackRock says global active equities chief Wiseman to leave firm
Mark Wiseman, global head of active equities at BlackRock Inc (BLK.N), is leaving the firm following a violation of the company’s “relationships at work policy,” the world’s largest asset manager said in an internal memo on Thursday.
Wiseman, one of several people tipped as BlackRock Chief Executive Larry Fink’s possible successors, is a former Canadian pension manager who ran active equities and served as chairman of BlackRock’s alternatives unit.
“When the firm becomes aware of a breach of policy or conduct that is not in line with our values, we move quickly and decisively to address it,” CEO Fink and BlackRock President Rob Kapito said in the memo, which was reviewed by Reuters.
In a separate memo to employees, Wiseman said, “I am leaving BlackRock because in recent months I engaged in a consensual relationship with one of our colleagues without reporting it as required by BlackRock’s Relationships at Work Policy. I regret my mistake and I accept responsibility for my actions.”
Wiseman’s conduct had no impact on any portfolios or client activities, the first memo said. The leaders of the active equity teams who previously reported to Wiseman will report to Kapito, the company said.
Wiseman’s is the second BlackRock senior executive departure this year due to lapses in personal conduct. Jeff Smith, head of the human resources group at BlackRock left the firm in July because “he failed to adhere to company policy,” BlackRock said at the time.
BlackRock declined to comment beyond the contents of the memo. The news was earlier reported by the Financial Times on Thursday.
https://www.reuters.com/article/us-blackrock-mark-wiseman/blackrock-says-global-active-equities-chief-wiseman-to-leave-firm-idUSKBN1Y920R
doesn't make any difference to the source.
Not saying it's untrue but twitter is not a backup imo
Key point this
>note that total compensation isn’t just salary, it factors in salary, bonus, stock awards.
@jackoff's and zuckerberg's stated salary is $1 and so are many moar. They do that to make it look like the are doing it for nothing. They get it in option awards that are cashed in which dilute the common shares.
fuck off punk. you didn't even read the response.
not in an election year. used that against hussein. it's an unwritten rule.
stated yes, followed through on? We'll see.
Do they really want to unleash that on the left?