Hertz CFO Jamere Jackson resigns

Hertz Global Holdings Inc. CFO Jamere Jackson has resigned from his post, the bankrupt car rental company said on Friday.

Jackson will be replaced by Chief Accounting Officer Eric Esper, effective Aug. 14, the company said in a regulatory filing.

Hertz said Jackson, who also stepped down from his post of executive vice president, would remain at the company until Sept. 11 to help the transition and would forfeit his retention bonus.

Hertz filed for bankruptcy protection in May after its business was decimated during the coronavirus pandemic.

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Ex-Tesla worker agrees to sanctions over document dump

Former Tesla Inc. technician Martin Tripp acknowledged that he intentionally violated a protective order when he announced on Twitter that he’d fired his attorneys and posted court documents and depositions online.

Not long after an online hearing Friday, Tripp posted a thread of contrition on Twitter, apologizing to the judge for publicly maligning her and saying he would “tone it down a bit for a while.”

Tripp, embroiled in a legal battle with Tesla over the alleged theft of trade secrets, agreed he wouldn’t re-upload or re-post the prohibited information and would owe Tesla $500 per day if he discloses anything covered by the protective order.

U.S. Magistrate Judge Carla Baldwin in Reno, Nev., also ordered Tripp to remove links, postings and “any other means or mechanisms” by which the documents can be accessed.

Tripp also must pay the automaker $25,000 in attorneys’ fees within 60 days, file a note of compliance with the court within a week,…

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UAW to stop paying ex-President Dennis Williams' legal fees

DETROIT — The UAW said Friday that its International Executive Board voted unanimously to stop paying legal fees for ex-President Dennis Williams related to the federal government's corruption probe.

As part of a longstanding practice, the union had been paying for Williams' attorney fees "under the express condition and representation by Mr. Williams that he had not engaged in any illegal conduct."

While Williams has not been charged with a crime, the union board voted Tuesday "to terminate any and all further payment of his attorney's fees related to the government's investigation, effective immediately." The union did not say what led the board to take such action.

Williams this year paid back more than $50,000 in travel expenses deemed to be inappropriately charged to the UAW.

He reportedly has been implicated in a yearslong corruption probe that so far has resulted in 14 guilty pleas from former union officials as…

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Ford teams with Mich., FEMA to distribute free face masks

Ford Motor Co. is donating 1.5 million face masks to a state government initiative to combat spread of the coronavirus by distributing 4 million free masks to low-income communities, senior centers, schools and homeless shelters.

Gov. Gretchen Whitmer announced the Mask Up Michigan initiative on Friday alongside Lt. Gov. Garlin Gilchrist II and retiring Ford CEO Jim Hackett at a news conference in Lansing.

"This is a moment when our country needs us — and we're stepping up," Hackett said.

The Federal Emergency Management Agency is supplying the state with 2.5 million of the masks.

Ford, which has pivoted into production of personal protection equipment during the coronavirus pandemic, is donating 1.5 million masks.

The automaker has produced 72 million pieces of PPE, which have included ventilators, respirators and face shields that are assembled at Ford's Rawsonville Components Plant in Ypsilanti, Mich.

Hackett said Ford would use i…

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Steele Auto Group CEO buys 10% stake in AutoCanada

The CEO of Canadian auto retailer Steele Auto Group has purchased a 10 percent stake in publicly traded rival AutoCanada Inc.

Rob Steele on Thursday acquired 24,000 common shares of AutoCanada through his company Steele Auto Investments Ltd. The cost of the acquisition wasn't immediately disclosed.

“These shares were acquired for investment purposes,” Steele said in a statement.

Steele Auto Group operates 41 dealerships selling 27 brands and has an employee base of more than 2,000 in Atlantic Canada.

In February 2020 it added Luling Chevrolet Buick GMC of in Luling, Texas, to its stable of stores.

AutoCanada operates 50 franchised dealerships in Canada comprised of 21brands in eight provinces. It also has 13 franchises comprised of 11 brands in Illinois.

AutoCanada this week reported a net loss of CDN$20.1 million in the second quarter as the COVID-19 pandemic sent the dealer group’s retail sales plummeting early in the health crisis.

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Ill. Dodge dealer sued by state over advertising, business practices

The Illinois attorney general has filed a lawsuit against Skokie Motor Sales Inc., which operates as Sherman Dodge, accusing the dealership of deceptive advertising and business practices that violate the state's Consumer Fraud and Deceptive Business Practices Act.

The state's lawsuit also argues the dealership is in violation of a 2016 voluntary compliance agreement with the attorney general's office.

"Under the AVC [Assurance of Voluntary Compliance], Sherman Dodge agreed to not sell a vehicle for more than the advertised price, advertise a vehicle that it has already sold or leased, guarantee a specific value for a trade-in vehicle, advertise a sale without reducing the selling price of vehicles listed in an advertisement by at least 5 percent or include limited rebates in an advertised price," the attorney general said in a statement.

The state accuses Sherman Dodge of violating each of the provisions, according to the lawsuit. …

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GM's bid to reinstate RICO case against FCA denied by judge

DETROIT -- General Motors' effort to revive its racketeering lawsuit against Fiat Chrysler Automobiles was denied in a Friday ruling by a federal judge, who said new evidence the automaker presented was "too speculative."

U.S. District Judge Paul Borman dismissed the case with prejudice in July after calling it a distraction for the companies and a "waste of time and resources." GM's racketeering suit, filed in November, claimed that its smaller rival secured an unfair labor-cost advantage by bribing UAW officials during key contract negotiations covering wages and benefits.

GM presented new evidence this month, saying in its amended complaint that FCA and co-conspirators used a network of bank accounts containing millions of dollars in Switzerland, Luxembourg, Liechtenstein, Italy, Singapore and the Cayman Islands to harm GM.

Friday's filing recounted GM's reasoning to reopen the case, in which it "argued that the Court committed two clear err…

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Startup aims to tackle battery degradation in EVs

Lithium ion batteries are essential to electric vehicles, but they have drawbacks: They are hard to make and degrade over time.

A San Leandro, Calif.,-based start-up said Thursday it had raised $4 million in funding and is working with German chemical giant BASF on a new technology to tackle those problems, aiming one day to reduce the cost of lithium ion batteries while boosting their capacities and extending their lifetimes.

Coreshell Technologies makes a coating that would go directly onto the surface of the electrodes in lithium ion batteries.

To produce power, lithium ions move back and forth between electrodes inside the battery. But as they pass through layers, some of the lithium gets stuck, both depleting it and making it harder for remaining ions to move back and forth.

Coreshell said its coating allows the lithium to pass through more easily and without getting stuck, which speeds up the break-in process during battery manufacturing, al…

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DAILY DRIVE PODCAST: August 14, 2020 | Why Israel is at the forefront of innovation

Join Automotive News Publisher Jason Stein for a daily podcast series about the coronavirus crisis. He’ll speak with industry experts, insiders and Automotive News reporters about how the virus is impacting and reshaping the automotive industry.

Mark Davidoff, board chairman of the Michigan Israel Business Accelerator, explains why Israel is a breeding ground for innovation and new technology; how the state of Michigan is helping automakers and other industry players connect with the Israeli startup community.

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Can't wait to hear the next episode of "Daily Drive"? Subscribe through a podcast app to receive episodes days in advance. If you don't have a podcast app already, here are some options. 

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Hertz’s ex-CEO will repay $2M over misstatements in 2013

Mark Frissora, the former chairman and CEO of Hertz Global Holdings Inc., will return nearly $2 million in incentive-based compensation to settle a U.S. regulator’s claims that he played a key role in causing the now-bankrupt car-rental company to file inaccurate financial statements in 2013.

Frissora pressured subordinates to “find money,” mainly by re-analyzing reserve accounts, as Hertz’s financial results fell short of forecasts in 2013, the Securities and Exchange Commission said in a statement Thursday. He also kept older cars in the company’s rental fleet longer to lower depreciation costs without disclosing the change to investors, the SEC said.

Hertz reaffirmed earnings guidance in November 2013 despite internal projections that showed lower earnings per share figures, according to the SEC. The company then revised the results in 2014 and restated them in 2015, cutting previously reported pretax income by $235 million, the SEC said. Hertz agreed to pay…

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Subsidies help Europe EV, plug-in hybrid market top China

Western Europe’s electrified vehicle sales pulled ahead of China’s last month after countries including Germany and France boosted government subsidies to stimulate demand that had been decimated by the pandemic.

The roughly 500,000 plug-in hybrid and battery-electric vehicles registered in Europe during the first seven months exceeded China’s sales by about 14,000 units, according to a report from Matthias Schmidt, an independent auto analyst in Berlin.

Registrations of battery-powered cars were about 269,000 in western Europe and plug-in registrations were 231,000, according to the report.

In addition to helping automakers recover from the coronavirus, government incentives are assisting automakers’ efforts to meet tougher emissions standards.

While China’s auto market has been recovering, the government is reducing subsidies that have supported new-energy vehicle sales to encourage automakers to compete on their own.

Europe probably will…

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GM to pass ventilator production to Ventec after government contract

General Motors plans to hand off ventilator production at its Indiana parts facility to Ventec Life Systems by the end of the month as it completes its government contract to build 30,000 ventilators to help treat coronavirus patients.

GM has delivered more than 20,000 ventilators to the National Stockpile and expects to send the remaining 10,000 by the end August, said spokesman Dan Flores. Ventec, a ventilator company based near Seattle, will lease GM's Kokomo, Ind., facility to continue mass producing the ventilators for hospitals across the U.S., GM said.

In early April, the Trump administration announced a $490 million contract with GM to deliver the 30,000 ventilators — more than double the number in the Strategic National Stockpile at the time — by August. A week later, GM and Ventec began mass producing the ventilators out of the Kokomo facility.

GM and Ventec had already partnered and sourced parts from GM's supply base befo…

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