Smith’s selling point for its step vans was that, unlike electric automobiles, delivery routes in urban areas did not require a long range between refueling (or, recharging). Frequent stops and short distances alleviated the “range anxiety” that accompanies cars like the Nissan Leaf. Frito-Lay, Coca-Cola and Staples were cited as early adopters of the truck demonstration project, which was launched with the help of $32 million in taxpayer funds.
The Kansas City Starreported last week that Smith cut its production expectations and warning it is running low on cash, citing filings with the Securities and Exchange Commission. The company announced nearly a year ago it would seek $125 million through an IPO, but now says it hopes to raise about $76 million at a stock price of $16 to $18, according to a Kansas City Business Journalreport.
The move preceded Friday’s annual shareholder meeting, in which executives emphasized their commitment to principles of integrity. That came into question especially since April, when the New York Times revealed that company officials authorized millions of dollars in bribes in order to expedite building permits and other favors in Mexico.
Despite a new report out of the United Kingdom that says the future of the business is bleak without government subsidies, a three-year-old unprofitable electric truck company that received $32 million in U.S. taxpayer stimulus plans to raise more money via an initial public offering.
But Coke’s passion to avert climate catastrophism runs deeper than the Arctic ice. The company even has a position statement that says “the consensus on climate science is increasingly unequivocal,” that “global climate change is happening” (everyone agrees with that – it always has changed and always will), and that “man-made greenhouse gas emissions are a crucial factor.”
Coca-Cola’s just-announced holiday campaign to supposedly protect Arctic polar bear habitat – highlighted by the company changing its iconic red cans to white – is ending, with the company killing off its new packaging two months earlier than planned.
No, Coke hasn’t seen the light on its disguised support for the global warming hoax. The images of polar bears will instead appear on redesigned red cans, after many consumers mistakenly grabbed the white cans believing they were selecting the silver-canned Diet Coke.
Last week, the sequel to 2009’s Climategate scandal was introduced to the global Internet audience, and preliminary reviews show it to be potentially more explosive than the original. Gems include iconic Hockey Stick scientist Michael Mann advancing a “cause” and admitting “we certainly don’t know the GLOBAL mean temperature anomaly very well,” and University of East Anglia scientist Phil Jones advising colleagues involved in the U.N. Intergovernmental Panel on Climate Change “to delete all emails at the end of the process,” so to avoid being subject to any Freedom of Information Act requests.