Dominion Voting warns that lawsuits in opposition to Fox Information are imminent

Complaints are coming.

Dominion Voting Systems, one of the targets of President Donald Trump’s unsubstantiated conspiracy theories about the election he lost, has warned Fox News, great Fox figures, other conservative media outlets, radio host Rush Limbaugh, and conservative attorneys that libel disputes are against them ” imminent. “

The voting machine company this week sent 21 letters to the White House, Fox News, its hosts Sean Hannity, Lou Dobbs, Maria Bartiromo, Newsmax news outlets, One America News Network, Epoch Times, and others calling for no defamation Make more claims on Dominion and that they are keeping any documents they have regarding the company.

“We are writing to formally indicate that litigation regarding these issues is imminent,” wrote Dominion attorneys Thomas Clare and Megan Meier in one of the letters to CNBC to Fox News Media General Counsel Lily Fu Claffee .

In their letters to individual news presenters, including Bartiromo, a former CNBC employee, the attorneys called for “no more defamatory claims against Dominion” and said they had “introduced and further introduced” the advocates of this misinformation campaign against. the Company.

Others who have received similar letters warning of impending litigation and requests for document retention include Trump’s personal attorney Rudy Giuliani; L. Lin Wood, attorney who questioned Georgia presidential election results, and Newsmax host Greg Kelly.

CNBC has asked recipients to comment on the letters.

During an interview on Thursday on CNN, Dominion CEO John Poulos said the company would take legal action against several people who “promote and reinforce those lies … on various media platforms since election day”.

“We will not overlook anyone,” said Poulos when asked if the company would sue Trump.

Trump has made a number of false claims since losing the national referendum to Joe Biden by more than 7 million votes to argue that he won the election by a landslide and that the ballot papers for him were fraudulently suppressed while the votes were being held for Biden were artificially added in a handful of states where the results were particularly close.

On November 12, just nine days after election day, Trump tweeted a claim that “DOMINION DELETED 2.7 MILLION TRUMP VOTES NATIONWIDE”.

One of the most ardent proponents of Dominion conspiracy theories was Sidney Powell, who last month was fired from the team of attorneys working for Trump’s campaign to undo Biden’s victory because her extreme claims received widespread criticism. Since last week, Powell has met with Trump at least once and has visited the White House three times in connection with her efforts.

Dominion attorneys have also sent Powell a letter warning them of libel claims.

In his interview with CNN, Poulos said Powell’s allegations that his company’s voting machine contains software developed “at the direction” of the late Venezuelan President Hugo Chavez, a boogeyman for right-wing media outlets, and that Dominion has ties to the Clinton Foundation and George has Soros are “complete lies”.

Dominion’s director of security, Eric Coomer, sued the Trump campaign, Giuliani, Powell and a range of conservative media outlets.

Coomer’s lawsuit alleges that he has been the target of death threats and other harmful communications because of the defendants’ false claims about Dominion’s machines.

Dominion said on its website that “disinformation” about the company poses a threat to democracy.

“Baseless claims about the integrity of the system or the accuracy of the results have been rejected by electoral authorities, subject matter experts and outside fact-checkers,” the company says.

“Malicious and misleading false claims about Dominion have created dangerous threats and harassment to the company and its employees, as well as to election officials.”

Last week, another voting machine company, Smartmatic, announced that it had served Fox News, Newsmax and OAN legal notices and cancellation notices “in order to publish false and defamatory statements”.

“The letters of formal notice list dozens of factually inaccurate statements made by each organization as part of a” disinformation campaign “to violate Smartmatic and discredit the 2020 US election,” the company said at the time.

“Smartmatic had nothing to do with the” controversies “that certain public and private figures have posed regarding the 2020 US election,” the company said. “Several fact-checkers have consistently exposed these false statements with astonishing consistency and regularity.”

Smartmatic said that despite false claims to the contrary, it was “only involved in the US 2020 election as the manufacturing partner, systems integrator and software developer for the Los Angeles County’s public voting system.”

What the superhero movie can do

Gal Gadot plays Wonder Woman in “Wonder Woman 1984”.

Warner Bros.

Can a nostalgic superhero movie convince people to leave their couches and go to the theaters? “Wonder Woman 1984” tries to answer this question.

Cinema owners are confident that the sequel to Wonder Woman, due out on Christmas Day, will attract a major demographic back to theaters despite the continued surge in coronavirus cases.

The ongoing pandemic isn’t their only concern, however. The same day that “Wonder Woman 1984” debuted on the big screen, it can also be streamed on HBO Max.

“Wonder Woman 1984 is the first test of a title of this size being released on both large and small screen at the same time,” said Paul Dergarabedian, Comscore senior media analyst.

Box office analysts have mixed opinions about how well the film will perform at the home box office. “Wonder Woman 1984” fell short of expectations on its international debut last weekend, grossing around $ 38.5 million. That was well below the industry’s predicted $ 60 million.

The movie could have even more trouble in the US and Canada considering that only around 34% of the theaters are open. That’s about 2,000 theaters, reports Comscore.

“It is difficult to place a number on its possible opening weekend as there really is no directly comparable release scenario,” said Dergarabedian. “And the biggest opening weekend for cinemas since the pandemic began in mid-March has not even passed the $ 10 million mark.”

It is related to “The Croods: A New Age,” an animated film by Dreamworks that debuted over Thanksgiving. It had the highest opening of any movie released during the pandemic, at just $ 9.7 million. The estimated $ 14.2 million for the entire five-day Thanksgiving weekend.

Still there is a pent-up demand for “Wonder Woman 1984”. This could convince moviegoers to go to the big screen instead of watching the movie at home.

“We’re seeing ‘Wonder Woman 1984′ getting the highest advance ticket sales of any movie in the pandemic era, but I’m cautiously leaning over $ 10 million for that, given the number of theater closings, audiences’ caution and caution A simultaneous streaming release weekend, “said Shawn Robbins, chief analyst at Boxoffice.com. “A number closer to $ 15 million could be achievable, but there is a lot of unpredictability that needs to be considered right now.”

Robbins said premium screens like IMAX and Dolby Cinema are likely to be among the top performing venues for the sequel as they offer higher quality sound and picture. Private party rentals, where moviegoers rent a theater to a group of up to 20 friends and family members, are also likely to generate a healthy share of the box office.

For the past five years, the box office has generated at least $ 80 million for a single day on Christmas Day. Analysts agree that that number won’t be seen this year.

In times without a pandemic, “Wonder Woman 1984” could have opened between $ 100 million and $ 150 million, said Wedbush analyst Michael Pachter. With so many movie theaters closed, the coronavirus threat looming, and the film available on HBO Max, Pachter forecast an opening of between $ 15 million and $ 25 million.

“While many choose to stay home and watch the movie this vacation, fans and families might find themselves in relatively fair numbers in markets where it is safe and possible, although far from what they are Usually for a blockbuster superhero, sequels are opening at Christmas, “said Robbins.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal owns Dreamworks Animation.

Kaitlyn Bristowe and Jason Tartick Reveal They Have Coronavirus

Kaitlyn Bristowe and Jason Tartick Have coronavirus.

The Bachelorette couple announced the news on Thursday, December 24th, on Instagram. “Unfortunately, this is our Christmas card this year,” wrote the season 11 star. “We have Covid.”

Bristowe said she and Tartick quarantined themselves prior to any plans to see their family members for Christmas. “We thought we were making a responsible decision to have ONE person who was work tested on a daily basis,” noted the Dancing With the Stars champion. “Negative tests for days and days in a row. The day we saw her she went positive, which we all found out the next day, and so did we. Now, like many, we will spend Christmas alone.”

The 35-year-old reality star then posted a message to her fans. “We just want everyone to know we feel safe, but Covid is bigger than us,” added Bristowe. “Today we think of everyone who spends the holidays alone, of everyone who is sick or overcome something (as 2020 taught us a lot to overcome), and everyone in the health care sector who was not in the family and around they take care of others for months and months. We’ll be fine !! be safe and happy holidays !! “

Trump’s risk to veto $ 900 billion places main local weather legal guidelines in danger

Patrick Pleul / Image Alliance via Getty Images

President Donald Trump’s opposition to a $ 900 billion coronavirus bailout package, largely passed by U.S. lawmakers late Monday, jeopardizes the first major climate change piece of legislation to have received Congress approval in about a decade.

Trump has threatened a veto of the stimulus package, which includes $ 600 direct checks for individuals and $ 35 billion to fund clean energy projects, and plans to reduce the use of chemicals to warm the planet.

The climate regulations included in the deal come after the Trump administration slashed more than 80 key environmental regulations in four years and just before President-elect Joe Biden took office.

Biden plans to rejoin the Paris Climate Agreement and use executive orders to expose many of Trump’s environmental setbacks. He’s also pushing for a $ 2 trillion plan, which needs Congressional approval, to move the country from fossil fuels to clean energy and green jobs. Trump officially withdrew the country from the Paris Agreement in November.

Although Biden’s legislation is likely to face immense hurdles if the GOP controls the Senate, which will be decided with two crucial runoff elections in Georgia in January, policy experts and environmental groups say the bipartite-backed climate action in the stimulus package signals that Biden can achieve this could make significant strides in combating global warming. It is also a sign that the US will join a wider global effort to reduce fossil fuel emissions to warm the planet.

“The spending bill just passed by Congress, with support from both Democrats and Republicans, points the way ahead,” said Michael Mann, climatologist and professor of atmospheric science at Penn State University. “It’s a positive sign that 2020 could be the year we turned around the corner on climate action in the US.”

The stimulus plan will cut the production and consumption of fluorocarbons (HFCs), which warm the planet, by 85% in the US over a 15 year period.

The ozone-depleting chemicals are often found in air conditioners and refrigerators. While they make up a smaller percentage of greenhouse gas emissions, fluorocarbons pack 1000 times the heat storage capacity of carbon dioxide.

More from CNBC Environment:
Rethinking Stimulus: How Covid’s Economic Recovery Can Combat Climate Change
Biden will rejoin the Paris Climate Agreement. Here’s what happens next

HFCs are used by nations around the world in a targeted manner to curb global warming. In October 2016 in Kigali, Rwanda, a landmark agreement was reached by delegates from 197 nations around the world to phase out HFCs.

So far 72 countries have ratified the Kigali Agreement. Despite the support of US manufacturers and chemical companies, the Trump administration did not accept the pact and instead proposed to reset the Obama-era standards to reduce the use of HFCs.

The stimulus package also includes bipartisan renewable energy legislation, which will provide approximately $ 35 billion in government funding for clean energy projects.

“This bill is the most important step we have taken to improve the climate of this Congress, and its passage is strong evidence that both parties support cooperation in creating climate solutions and investing in advanced energy technologies, while at the same time the our country’s most vulnerable citizens are cared for, “Senator Chris Coons, D-Del. said in a statement earlier this week.

The legislation includes tax credits for solar and wind power that would fuel Biden’s plan to have a carbon-free electricity sector by 2035. The broader bill also includes investments for more sustainable transport and re-approves a program that provides funding for low-income homeowners to upgrade equipment, heat pumps and other household items to clean energy products.

The stimulus package also includes measures to capture and store carbon from production and power plants, reduce diesel emissions from some vehicles, and finance oil exploration projects.

“Congress has made an unprecedented downside to tackling climate change in this legislation by agreeing to phase out effective HFCs, invest in renewables and extend much-needed tax incentives for wind and solar,” said Grant Carlisle, senior Policy Advisor at Natural Resource Defense Council.

“But that’s just a start,” said Carlisle. “In order to cope with the climate crisis, the federal government must accelerate its efforts to convert our economy to clean energy and away from dirty fossil fuels.”

Theaters and live performance venues waited for assist after Trump’s risk

The $ 900 billion coronavirus aid package includes a long-awaited move to send aid to struggling independent theaters and music venues.

But now these cultural centers and small businesses are waiting for help again.

The measure was supposed to become law this week, but President Donald Trump on Tuesday threatened to blow up the deal, the result of months of controversial negotiations. It is not clear whether the president intends to veto the bill or not to sign it for the remaining weeks of his presidency.

The law provides $ 15 billion in grants to facilities including museums and zoos. It’s a multi-month push for the Save Our Stages Act, a bipartisan plan to promote small arts and entertainment venues that have come under pressure during the pandemic health restrictions.

Private, small performing arts venues, cinemas, museums and zoos could receive grants from the Small Business Administration – starting with those where revenues are down more than 90% year over year. Companies can use the money on expenses such as rent or mortgage, utilities, payroll, insurance, and maintenance to help them meet public health guidelines.

Senator Amy Klobuchar, a Minnesota Democrat who first co-sponsored the bill in July with Republican Senator John Cornyn of Texas, said the plan would send targeted aid to businesses that usually closed first and last will belong open.

“These are some of the companies and phases that have been hurt the most and that have literally been all but closed,” she told CNBC on Tuesday. The interview came just hours before Trump, who was expected to sign the bill, called it a “disgrace” and asked lawmakers to change it.

The coronavirus pandemic has hit the entertainment industry. Live shows have been canceled for nearly nine months and dozens of blockbuster films have been postponed to 2021. This has cracked the bottom line and threatened to bankrupt businesses large and small.

However, it is only the smallest companies that could benefit from Klobuchar’s and Cornyn’s plan. Venues seeking help cannot fall into more than two of the following groups:

  • Listed companies
  • Multinational companies
  • Companies that operate in more than 10 states
  • Companies with more than 500 full-time employees
  • Companies that have received at least 10% of their revenue from government sources

These reservations mean that national theater chains such as AMC, Cinemark and Regal owned by Cineworld, as well as many regional chains, would not be eligible to apply for grants.

“The larger chains like AMC and Regal had easy access to funding that some of the smaller operators don’t,” said Doug Calidas, Klobuchar’s legislative director. “Even if the worst-case scenario comes up and they don’t make it, they usually get bought out and stay, while many of these very small theaters, if they close their doors, would be.”

The bill would provide relief to hundreds of independent cinemas that the National Association of Theater Owners has warned could close permanently if not supported.

“This act will help us survive until the vaccines are widely distributed,” said Brock Bagby, executive vice president of B & B Theaters, a family-owned company with 48 theaters in eight states.

While movie theaters in most states have been able to operate with limited capacity, live entertainment centers like Broadway in New York City are still closed.

The Actors’ Equity Association, the union that represents around 51,000 stage actors and managers in the live theater industry, said more than 1,100 actors and managers lost their jobs on Broadway during the pandemic.

The theater industry in New York City supports more than 96,000 local jobs, according to the Broadway League. This includes those involved in productions and those who work in the Broadway area such as retailers, taxi drivers, and restaurant owners.

“We are grateful for this bipartisan deal that is immediate relief and a lifeline for the future in our industry,” said Charlotte St. Martin, president of the Broadway League after lawmakers closed the deal – but before Trump got the deal after it Conclusion ripped passage in Congress.

The group declined to provide additional comments when CNBC asked for a response to Trump’s subsequent attack on the Covid relief bill.

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Check delays and workers shortages are hindering the distribution of Trump’s Covid therapy

A medical staff administers a free Covid-19 test at a state drive-through test site in the parking lot of the University of Texas, El Paso campus on November 23, in El Paso, Texas amid the coronavirus disease (COVID-19) outbreak , 2020.

Ivan Pierre Aguirre | Reuters

Al Weiss went to New York’s Mount Sinai Hospital for a colonoscopy earlier this month and walked out of the hospital with a diagnosis of Covid-19.

Within a few days, the 74-year-old Weiss received treatment with Covid-19 monoclonal antibodies from Eli Lilly as part of a clinical study investigating possible side effects of the drug infusion. Within 72 hours, his mild symptoms, including fatigue and a 101-degree fever, subsided and “I was Superman,” Weiss said in a telephone interview.

“I absolutely believe it was beneficial,” he said. “It was better than sliced ​​bread.”

Monoclonal antibody treatments such as those made by Weiss and one made by Regeneron that were given to President Donald Trump have shown promising signs of fighting the disease when given early in infection. But the drugs are not widely used by the public. A lack of staff to deliver the drugs that must be administered via IVs, as well as delays in Covid-19 tests, have limited their use, according to hospital administrators and public health professionals.

‘Insufficient data’

Marta Wosinska, deputy director of the Duke Margolis Center for Health Policy, spoke about the value of antibody treatments at an event held by the National Academies of Science, Engineering and Medicine last week. The only available data on treatments are from small clinical trials.

The Infectious Diseases Society of America, citing a lack of data, has recommended that Eli Lilly’s treatment bamlanivimab not routinely be used. And the National Institutes of Health cited “insufficient data” saying the drug “should not be considered a standard of care”.

Wosinska said this was a problem because treatment was not easy. Hospitals need to set up an infusion center and staff only for Covid patients to effectively distribute the drugs and separate them from cancer and dialysis patients. But there is “discomfort from providers as to whether it is really worth setting up a whole new system for the delivery of these drugs,” said Wosinska.

Many hospitals across the country are already facing extreme stress and, given the lack of data, it is difficult for hospitals to justify an investment in treatment. Still, the drugs show promise when given “to the right patient, at the right time, in the right place,” she added.

Test problems

One of the main difficulties with antibody treatments is that they seem to have the greatest benefit when given early to patients, Wosinska said.

“We have to infuse this drug within seven days of symptoms appearing, but patients generally don’t seek treatment until they are quite ill,” she said. “We have told patients that if you are not really sick, don’t come to the emergency room. Stay home, take care of yourself, isolate. And here we really want to register patients very early.”

And there are logistical delays that keep patients from getting a quick infusion. Before people even consider receiving treatment, they need to do Covid tests and get results back, which can take a day or more depending on where the sample is being taken.

Michael Ganio, senior director of pharmacy practice and quality for the American Society of Health System Pharmacists, said delays in testing limit the “window to the infusion”.

“The first challenge is that the locations where the drug is infused may not be the same place where Covid tests are done,” he said at the National Academies event, adding that people in particular are in rural communities may have difficulty moving from a testing center to an infusion center. “The other thing is the challenges with test capacity and test lead time.”

Michael Wargo, vice president of emergency preparedness at HCA Healthcare, said he is working on integrating testing centers more closely with hospital systems so that individuals eligible for treatment with antibodies can be notified shortly after diagnosis.

“We need to develop these inclusion criteria at the time of testing,” he said. “When they go in and are checked for risk for Covid, we check them for the inclusion criteria. Let’s build that and even work with the big lab systems like Quest Diagnostics.”

‘Perfect Storm’

In addition to testing, Wargo reiterated that shipping to infusion centers is one of the major obstacles to using the antibody treatments. He said HCA is experimenting with a number of initiatives to expand access, including “reversing the process of donating blood”.

Patients eligible for the treatments would be extremely contagious, so asking them to use public transportation to get to an IV center is not ideal. According to Wargo, HCA has considered working with organizations like the American Red Cross to convert their blood donation vehicles into mobile infusion centers.

Other hospital systems are exploring the possibility of doing IVs at home, said Dr. Mark Jarrett, Chief Quality Officer at Northwell Health. However, he added that home IV fluids are extremely labor intensive and many hospitals just don’t have their hands free right now.

“This is the perfect storm for personnel issues,” he said. “We have a wave of illnesses in the hospitals. … We now need a lot of staff for the vaccination. … The infusion staff themselves come from the nursing pool, so that’s a problem.”

“This is a resource that we need to reach our patients. It will take the burden off hospitals, but the devil is in the details,” he added.

awareness

Awareness of the treatments is another problem, Jarrett said. Many people don’t know if they are at high risk and have symptoms onset and if this is likely an option for them, he said.

“We are dealing with the issue of public advertising,” he said. “We were very reluctant to do this at the beginning because we feared we might exceed our offer. At this point we really believe we can adjust to it.”

However, he noted that some people are reluctant to receive treatment because it has only been approved by the Food and Drug Administration in an emergency and there is insufficient data to vouch for its safety and effectiveness.

Dr. Marcus Plescia, chief medical officer of the Association of State and Territorial Health Officials, echoed Jarrett’s concern about the lack of awareness. He added that the public health community has been so focused on vaccines that little effort has been made to educate the public about monoclonal antibody treatments.

“Public health is not really in a position right now to advocate anything other than a vaccine. It is a big endeavor and that is where their attention is,” he said. “But I think the problem is that antibody treatments have just disappeared from the radar screens.”

Covid-19 paralyzed U.S. auto gross sales in 2020, however issues may have been worse

A car dealer shows customers a vehicle at a dealership in Jersey City, New Jersey.

Angus Mordant | Bloomberg | Getty Images

New vehicle sales in the US are projected to decline by at least 15% this year in what would mark one of the worst annual declines in the industry since at least 1980.

In a normal year, such a rapid decline would have meant an industry in crisis. But in 2020 the overwhelming sentiment is “it could have been worse”.

“It’s been a tough year, but I think we’re ending in a much better place than we expected,” said Nick Woolard, director of Autoaker Analytics for TrueCar. “There was this sharp right turn early on that nobody expected and that drove the entire industry into pretty dark days, and the forecasts were all very bleak.”

In the depths of the spring’s first Covid-19 summit, new vehicle sales plummeted as auto plants closed and many dealerships were forced to close showrooms. Retail sales forecast by JD Power would decline as much as 80% in April, resulting in an expected sales level close to recession for the year.

However, retail sales to consumers rebounded much faster than forecast. Sales fell by around 34% in the second quarter. For the most part, they were driven by low – even 0% – interest rates, historically long financing offers, and people who wanted to drive on the open road rather than using public transport or airlines.

“One big comeback story of 2020 is without a doubt the rebound in retail vehicle sales, which have almost returned to pre-pandemic levels,” said Jessica Caldwell, Edmunds Executive Director of Insights.

2020 sales

Edmunds expects new car sales to decline 15.5% this year when final statistics are released in about two weeks. This is in line with other industry estimates calling for sales of around 14.4 to 14.6 million new vehicles in 2020 – up from 17 million or more in the past five years. Cox Automotive is forecasting a 15.3% decline, while TrueCar is forecasting a 15% loss from 2019 sales.

TrueCar reports that retail sales are expected to decline only 8% compared to 2019, while fleet sales to commercial and government customers are expected to decrease 43%.

If the projections are correct, 2020 will be the fourth largest annual decline for the U.S. auto industry since 1980 – after a loss of 19.1% in 1980 and a decline of 18% and 21.2%, respectively, during the Great Recession in the United States 2008 and 2009. But it could have been worse.

“This year presented the economy and the automotive market with incredible challenges. At the end of the year it is remarkable to see how well the industry has performed,” said Jonathan Smoke, chief economist at Cox Automotive.

Record profits

The lower fleet sales and the shortage of inventories due to operational shutdowns in the spring have led to better than expected earnings for automakers and to record profits for many listed dealer groups.

AutoNation, the largest retailer group in the United States, reported record earnings per share of $ 2.38 for the third quarter, up 102% year over year. This was due to a 40% increase in operating income despite a slight decrease in quarterly sales.

“It’s our absolute best quarter ever,” AutoNation CEO Mike Jackson told CNBC in October. “The demand for individual mobility has increased and I think this pandemic / housing has long-term changed the American psyche and it’s hard to predict if the last five years but the next three to five years demand has shifted.”

Other listed dealer groups such as Group 1 Automotive, Lithia Motors and Sonic Automotive also reported various record results this year.

Taraji P. Henson reveals that she considered killing herself in the course of the pandemic

Taraji P. Henson talked about mental health on her new Facebook show, Peace of Mind With Taraji, and recently revealed some of the personal thoughts she had during the pandemic.

During a conversation with the psychologist Dr. LaShonda Green and her friend and co-host Tracie Jade revealed to Taraji that she was considering suicide. She said, “I couldn’t get up for a couple of days, I didn’t care. That’s not me. Then I started thinking about finishing it. “

She went on to explain, “It happened two nights in a row.” She then mentioned that she had recently bought a gun and when she remembered that dark moment she said she was thinking to herself, “Well, if I could go in there now and just finish it all because I want it is over.”

Taraji also mentioned how she thought it would affect her son, remembering thinking to herself, “He has grown, he will get over it.”

Taraji admitted that she was ashamed of her thoughts and mentioned that she knew she had to speak her thoughts out loud to someone else. “People called me, I didn’t answer,” she said. “I just didn’t care. Finally, speaking to one of my friends, I knew I was smart enough to say, ‘I have to say it. ‘“

Dr. Green expressed that she later felt a sense of relief and assured that unhealthy thoughts are common and that talking to someone else can be a helpful factor.

Check out what Taraji had to say below:

As we previously reported, Tamar Braxton was recently on the show with Taraji P. Henson, sharing her own experiences after trying to kill herself last summer. She later used social media to thank Taraji for her platform and to allow her to share her experience.

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TSR STAFF: Jade Ashley @ Jade_Ashley94

Nikola shares slide after the top of the contract for EV rubbish vehicles

Nikola Corporation has rung the Nasdaq Closing Bell remotely from around the world.

Source: The Nasdaq

Nikola shares fell 9% on Wednesday after the company announced it had ended its partnership with Republic Services to jointly develop electric garbage trucks.

Nikola said the decision was made after both companies “determined that combining the various new technologies and design concepts would result in longer than expected development time and unexpected costs.”

“This was the right decision for both companies, given the resources and investment required,” Nikola CEO Mark Russell said in a statement. “We support and respect Republic Services’ commitment to providing environmentally conscious and sustainable solutions for their customers.”

When the deal for thousands of trucks was announced in August, Nikola stock rose 22% to $ 44.81 per share. The shares are currently trading at around a third of that price. The shares were trading at $ 15.33 on Wednesday morning.

“In short, this is a ‘belly blow’ for investors who were hoping that this monster order would be a potential paradigm shift for Nikola and reference clients in the future,” said Dan Ives, an analyst at Wedbush, in a statement to investors on Wednesday .

Republic Services confirmed the termination of the contract, stating that it remains committed to electrification, citing continued relationships with Mack Trucks, Peterbilt Motors and a recent investment in California-based start-up Romeo Systems.

“We look forward to working with all of our OEM partners to benefit from innovative new technologies, advance our fleet electrification goals, and drive responsible growth and value creation. We plan to make additional purchases from various suppliers by 2021.” Republic said in a statement.

The termination of the deal is the latest blow to Nikola, which was considered one of the hottest stocks on Wall Street earlier this year. The company’s fall was as rapid as its rise.

After going public in June through a reverse merger with a special-purpose acquisition company, shares soared as investors bet the company could be the next Tesla. The push was led by then chairman and founder Trevor Milton, who was open, charismatic and very involved in social media – much like Elon Musk, CEO of Tesla.

The hype brought the shares to nearly $ 100 in June and briefly squeezed the company’s market cap above Ford Motor. The stock has always been volatile, but its biggest decline began in September.

Milton stepped down after the Department of Justice and the Securities and Exchange Commission began investigations into fraud allegations by short seller Hindenburg in September.

Hindenburg accused Milton of making false statements about Nikola’s technology to grow the company and partner with auto companies. The report, titled Nikola: How to Partner an Ocean of Lies with America’s Largest Automaker, was released two days after a General Motors deal was announced. It characterized Nikola as “an intricate fraud based on dozens of lies” by Milton.

At the time, Milton and the company denied many of the claims, but admitted one of Hindenburg’s biggest claims – that it staged a video showing a truck that appeared to be in working order but not working, as well as claiming that the truck was full was functional.

GM last month withdrew its original $ 2 billion share deal with Nikola, which would have given the automaker an 11% stake in the company. Consent to a non-binding Memorandum of Understanding for the delivery of fuel cell technology to Nikola.

CNN’s Abby Phillip says Charles Kushner Pardon could possibly be a precursor to large Trump Household Pardons

It has always been assumed that Donald Trump’s pardons would be unlike any other in American history. And he did not disappoint. The president has pardoned war criminals, insider dealers, politically filthy fraudsters and several people who pleaded guilty to indicting them.

But on Wednesday, Trump gave a different type of pardon. The president fired Charles Kushner, the father of his son-in-law Jared Kushner. It has long been rumored that Trump would want to grant preventative pardons to his children. According to CNN’s Abby Phillip, Kushner’s pardon could be a sign of the future.

The reporter made the comments during an appearance on CNN Wednesday night. Hostess Kate Bolduan asked, “Abby, with Charles Kushner here, I think Trump might be checking the final box to pardon someone with family ties?”

Phillip replied, “I think dipping your toe in the water of family forgiveness is what we can say for sure. I think I think it definitely warms people up to the idea that the president is more than willing to apologize to people just because they are personally connected to him. “

The reporter later continued:

“If you look at all of the pardons the president has given since his tenure as president, the vast majority of them have gone to political allies, people he is personally close to. And not people who have gone through a normal process or people who have been brought against them by the criminal justice system. Kate, I think one of the important things about what we’re seeing here is clearly that this is also a president who knows his pardon power is running out. He only has a few days left to use it so he uses it in the most provocative way that tells you everything you need to know if he really believes he will become president on January 21, 2021, what we know he won’t be. “

Todd Neikirk is a New Jersey-based policy and technology writer. His work has been featured on psfk.com, foxsports.com and hillreporter.com. He likes sports, politics, comics, and spends time with his family on the waterfront.