Fisker Halts EV Plans; $50M Automation Marvel
The week ended with some disappointing news for Voltage Valley. Fisker Inc., which planned to build its new Pear EV model at Foxconn’s plant in Lordstown, announced that unless it gets a huge cash infusion – and soon – it may not be able to continue operations.
On Thursday, the U.S. Securities and Exchange Commission charged Lordstown Motors Corp. with misleading investors about the sales prospects of its flagship electric pickup truck, the Endurance.
From The Business Journal’s March issue, Dan O’Brien, managing editor, provided a look at Wheatland Tube’s new $50 million automated storage operation at its Warren plant. All of the operation’s mechanics, movements, timing and internal logistics are choreographed to precision using a fully automated platform that points to the future of manufacturing in the Mahoning Valley.
Also from the March issue, O’Brien gave a preview of this year’s TEDx Youngstown event, which will take place March 8, and Denise Dick, special projects manager, explored the benefits of artificial intelligence in education.
Here’s a look at those stories and other top stories this week from BusinessJournalDaily.com:
Fisker Halts Plans to Make Pear EV at Foxconn
Fisker Inc., the California EV startup that said it would build its new Pear EV model at Foxconn’s plant in Lordstown, says unless it gets a huge cash infusion – and soon – it may not be able to continue operations.
Fisker lost $762 million during the 12 months ending Dec. 31, the company reported. READ
Wheatland Tube’s $50M Automation Marvel
The general foreman at the Warren operation of Wheatland Tube, Matt Faraglia, scrutinizes a video screen and carefully monitors real-time images of steel pipe moving to and from the plant’s newly constructed warehouse.
This is no ordinary industrial warehouse. All of the operation’s mechanics, movements, timing and internal logistics are choreographed to precision using a fully automated platform that points to the future of manufacturing in the Mahoning Valley. READ
SEC Charges Lordstown Motors with Misleading Investors
The U.S. Securities and Exchange Commission has charged Lordstown Motors Corp. with misleading investors about the sales prospects of its flagship electric pickup truck, the Endurance.
According to regulators, Lordstown Motors exaggerated the demand for the Endurance, claiming the company had received more than 100,000 nonbinding “pre-orders” for the vehicle from commercial fleet customers when, in reality, most of the pre-orders came from companies that did not operate fleets or intend to buy the truck for their own use.
The SEC’s order also found that Lordstown misrepresented the company’s time line for delivering the Endurance. READ
Eastern Gateway Officials Raised Concerns about Former Leader
Eighteen months before Eastern Gateway Community College trustees paused enrollment, members of the administration warned about the college’s capacity to continue under the leadership of then President/CEO Michael J. Geoghegan.
The administrators titled an Aug. 2, 2022, letter to college trustees “Notification of No Confidence” in Geoghegan and urged his dismissal. READ
Youngstown’s Joshua Triplett Has Key Role in New Film
Joshua Triplett has built an impressive acting résumé that includes recurring or guest roles on several television series, including “Grey’s Anatomy,” “Raven’s Home,” “The Rookie” and “The Neighborhood.”
The Youngstown native has also appeared in about 150 national commercials, including six that were shown during a Super Bowl telecast. But Triplett’s career will reach a new high next month when the film “Forty-Seven Days With Jesus” is released. READ
Other Top Stories
TEDx Youngstown 2024: From Runways to Rodeos
Group Vows to Fight to Keep Eastern Gateway Open
Journal Opinion: The ‘Pause’ at Eastern Gateway
Benefits of AI in Education Outweigh Drawbacks
Davenny Wyner to Step Down as Music Director of Warren Philharmonic
Comedian Basile Will Shoot Netflix Special in the Valley
YSU Works to Establish Campus in Steubenville
Improv Comedy Troupe Coming to Youngstown Playhouse
Youngstown OKs $682K Contract for Autonomous Shuttle
TTM Plans to Expand in North Jackson after Tax Credit OK’d
Oil Production Remains Steady in Columbiana County
General Shale Purchases Summitville Tiles
YSU STEM Expo Connects Students with Employers
Students Build Bridges to a Future in Engineering
Commentary: Enjoying the Simple Pleasures
Steward Health Secures $150M as Part of Action Plan
Videos
MCCTC Hosts Student Skills Competition
Youngstown Native Lands Key Role in New Film; $9.6M Expansion for UPMC Hillman Cancer Center
Wheatland Tube Improves Operations with High Tech Warehouse
High-Tech Warehouse Elevates Wheatland
YSU Competition Helps HS Students Explore Engineering Careers
Flashback Minis: History of Postcards
YSU Students Seek Employment Opportunities Early and Often
A Look Inside the March Issue
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