tysker said:

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aggiehawg said:

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Proterra was acquired by Phoenix Motor Inc., which the Monitor reports is struggling to service warranties and repair technical issues.

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Phoenix Motor? Symbol PEV?
AHAHA, As I've mentioned here many times, I work in Compliance and AML at a broker-dealer. I won't say much more than that the stock has been on our radar for the wrong reasons.

Good luck Austin. Enjoy your lack of due diligence

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to add some more color from a cursory look at SEC filings...

SEC filing from last week: Notification of inability to timely file Form 10-Q or 10-QSB
and Statement of Beneficial Ownership by Certain Investors - amendment
YA II PN is Yorkville Advisors, a well-known 'toxic lender', and capital provider of last resort

I am sure the council folks are making out just fine.

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YA II PN is Yorkville Advisors, a well-known 'toxic lender', and capital provider of last resort

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So this company is basically bankrupt too?

Red Fishing Ag93 said:

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I am sure the council folks are making out just fine.

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They are winning the votes of the plentiful useful idiots, which is the ONLY thing that truly matters to these people. Climate change BS/EV/cow farts are only tools of the trade.

aggiehawg said:

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YA II PN is Yorkville Advisors, a well-known 'toxic lender', and capital provider of last resort

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So this company is basically bankrupt too?

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Yorkville? Let's just say the SEC has concerns with many OTC and microcap lenders, including Yorkville, Streeterville, and Almagarby's MicroCap, LLC, among others. Shareholders are well aware that these lenders often lead issuers into a "debt death spiral," ultimately driving their valuation down to $0.

That being said, they can provide liquidity where other lenders can't or won't (think payday loans)

Trump's DJT used Yorkville earlier this year
https://www.propublica.org/article/trump-media-stock-sale-shares-truth-social-yorkville-advisors

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Instead of hiring J.P. Morgan or another bank, Trump Media has entered into a deal to sell stock with a small New Jersey financial firm called Yorkville Advisors.

The firm has done similar deals with a number of small biotech companies, such as a firm trying to develop "cannabinoid pharmaceuticals" to treat autism and Alzheimer's. In 2021 it inked a high-profile deal with a meme stock electric vehicle startup called Lordstown Motors, whose stock has crashed from a peak of more than $400 to under $2 today.

Companies like Yorkville that offer such deals are not typically intending to hold on to the stock, experts said. They are playing a version of the middleman role, allowing Trump Media to easily sell shares when it wants to. The basic arrangement works like this: Trump Media has the option to sell Yorkville shares of itself up to $2.5 billion, a significant chunk of its current market value. Yorkville was paid a fee up front, and if Trump Media decides to sell shares, Yorkville will also get a discount 2.75% off the market price. Yorkville typically would turn around and immediately sell those shares to other buyers, pocketing the difference.

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This example is more "liberal 101" than the refunding of police we're seeing across he country.

Anyone with an ounce of common sense would say "looks great - how do they run on day 2 and day 3 and day 4, etc."

****ing liberals see something that feels awesome on their lip when sucking their thumb. They never think about the next day.

Garrelli 5000 said:

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This example is more "liberal 101" than the refunding of police we're seeing across he country.

Anyone with an ounce of common sense would say "looks great - how do they run on day 2 and day 3 and day 4, etc."

****ing liberals see something that feels awesome on their lip when sucking their thumb. They never think about the next day.

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Anyone with a lick of common sense would also not go all in.

Let's buy a couple and do a pilot project with them and see how it goes.

Logos Stick said:

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Garrelli 5000 said:

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This example is more "liberal 101" than the refunding of police we're seeing across he country.

Anyone with an ounce of common sense would say "looks great - how do they run on day 2 and day 3 and day 4, etc."

****ing liberals see something that feels awesome on their lip when sucking their thumb. They never think about the next day.

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Anyone with a lick of common sense would also not go all in.

Let's buy a couple and do a pilot project with them and see how it goes.

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On a very specific route. Start small and work up from there.

Wasting taxpayer money for over 100 years.

lol. Stupid liberals

Every single person who voted "YES" to buy these buses should be thrown in prison for - at least - misappropriation of funds. If that's not a jailable offense then find something that is that pertains to this malfeasance. IIdiot politicians should be accountable for their actions, especially when the end result is predictable.

"But...but... then nothning new will ever get passed by city governments."

Good.

This is an example of not understanding the underlying issue. It's not the nature of the technology, but rather the nature of the company providing it. There's no reason why an electric bus should cost $1MM per bus, nor why a bus route shouldn't have readily available charging to maintain operation.

PepsiCo and DHL just did pilot testing of Tesla's Semi product and achieved <1.7 kWh per mile, with a city bus your payload is substantially less, so you might be able to achieve a 1 mile per kWh efficiency. If you assume 200 miles of daily driving that's a ~250 kWh pack with 20% to spare. A standard Tesla Supercharger could charge that pack in <2 hours. V4 Supercharger is capable of outputting up to 1MW of power for the semi, likely meaning <1 hour down time.


The problem isn't the technology. It's that Proterra was an incompetent grift that exploited naive politicians, combined with the fact that bus transit isn't exactly the most highly desirable electrification project. Not a very large market, already very efficient on a per passenger basis compared to consumer auto, and if you believe that autonomous travel is not far off the utility of a city travel bus is not long for this world.

Proterra really is one of the worst products/companies I can recall 'making it big' since Enron.

Just slap a solar panel and a windmill on top of each of them... clean, free energy. Right?

This, too, like all things can be fixed with High Speed Rail!

/A Moderate Doing Some Concerning

Just plug em into some south Texas grapefruit


Wow what a sad and predictable boondoggle

Need to vote for people that can predict this and save the electorate some money

Nobody will be fired for this so it will happen over and over again in different forms.

Sending money to the government is the worst "trickle down" scheme ever imagined.

I don't think they are stupid, just corrupt.

They pay a bazillion dollars for studies and such, much of it going to friends and family, then say "awe shucks" when the money runs out and there is no real support.

Then it's on to the next $ignificant boondoggle. Rinse, launder and repeat.

And if, and most likely, they bought land in the boondoggle through eminent domain, they will sell it to various LLCs that will funnel money into their pockets.

If Kamala is for it, it's always a bad idea.

Taxpayers keep voting for this stupid ****

I was told most people charge at home overnight.

Why couldn't Austin do that?

Funky Winkerbean said:

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City got these EV buses from DOE grant

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And that's how you get $32T in debt.

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Ah, the good old days...

It's $36 trillion now.

https://www.usdebtclock.org/

San Francisco has been running electric buses for 25+ years that I'm aware of.

But they're not rechargeable buses, they're the kind with the overhead power lines.

I was lucky enough to see one come off the rails in SoMa.
It was hilarious because it was completely dead in the water once it got disconnected from the overhead lines.

Every mass transit expert said. Shift to hydrogen, ev for transit doesn't work unless you have some sort of active charging. Plus they weigh as much as an m1. Liberal dip****s didnt listen as usual. So glad i dont live in Travis county.

Anyone arguing for hydrogen is the same kind of thinker that decided to give an electric city bus contract to a startup.

Glad I never go into the city.

The only reason I EVER go into the big city nowadays is for kids sports. Few times a year. Otherwise it would never happen.

Government waste at its finest. What a joke

Put train tires on the busses and have the Zilker flyer pull them around.