Movie listings site Moviefone is sold for $1M as part of a bankruptcy auction by MoviePass owner, which had acquired Moviefone from Oath in 2018 — Helios & Matheson filed for bankruptcy after blowing through millions of dollars to keep its MoviePass business up and running.
GM said Friday that it is working with Ventec Life Systems to help increase production of respiratory care products such as ventilators that are needed by a growing number of hospitals as the COVID-19 pandemics spreads throughout the U.S.
The partnership is part of StopTheSpread.org, a coordinated effort of private companies to respond to COVId-19, a disease caused by coronavirus.
Ventec will use GM’s logistics, purchasing and manufacturing expertise to build more ventilators. The companies did not provide further details such as when production might be able to ramp up or how many ventilators would be produced.
GM Chairman and CEO Mary Barra said in a statement that GM is working closely with Ventec to rapidly scale up production.
“We will continue to explore ways to help in this time of crisis,” Barra added.
The need for ventilators is urgent as cases of COVID-19 pop up with increasing frequency as widespread testing begins. While some people with COVID-19 reported more mild symptoms, others have experienced severe respiratory problems and need to be hospitalized.
The shortage has prompted automakers to investigate ways of ramping up ventilator production. Volkswagen and Ford have reportedly either talked to the White House or committed to looking at the problem. Volkswagen said Friday it has created a task force to look into using 3D printing to make hospital ventilators.
Elon Musk tweeted Friday that Tesla and SpaceX employees are “working on ventilators” even though he doesn’t believe they will be needed. His confirmation on Twitter that both of the companies he leads are working on ventilators comes a day after New York City Mayor Bill de Blasio made a direct plea to Musk to help alleviate a shortage at hospitals gearing up to combat COVID-19.
Musk didn’t provide specifics what “working on ventilators” means, what Tesla factory might be used, the possible capacity or when he planned to begin production.
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Sources: Airbnb's plans to go public are in disarray after the company racked up hundreds of millions of dollars in losses this year — The coronavirus pandemic has led to hundreds of millions in losses for Airbnb (AIRB) and has the company considering a funding round rather than going public, according to WSJ sources.
Panasonic is pulling its 3,500 employees from the massive Nevada factory it operates with partner Tesla over concerns about the spread of COVID-19.
The company said Friday it will ramp down operations early next week and then close for 14 days. The move only affects Panasonic employees. Tesla also employs thousands of workers at the so-called Gigafactory 1 in Sparks, Nevada.
Tesla could not be reached for comment.
Gigafactory 1, which broke ground in June 2014, is a critical ingredient in Tesla’s goal to accelerate the world’s transition to sustainable energy by expanding global battery capacity and reducing the cost of electric vehicles. And Panasonic has been its most important partner as a supplier and partner in that project.
The factory produces Model 3 electric motors and battery packs, in addition to Tesla’s energy storage products, Powerwall and Powerpack. Panasonic makes the cells, which Tesla then uses to make battery packs for its electric vehicles.
Here is the statement from Panasonic spokesperson Alberto Canal
Panasonic is committed to safeguarding the health and well-being of every employee. The Panasonic factory in Sparks, Nevada will begin ramping down operations early next week and will then close for 14 days. Employees impacted by the closure will receive full pay and benefits for the 14-day period. In the meantime, Panasonic has enacted several measures to enhance the cleanliness of the facility, encourage social distancing, and enable simple, safe and effective behaviors. During the 14-day period, the facility will undergo intensive cleaning.
Without Panasonic, Tesla could face a bottleneck in the supply chain. Tesla has agreed to suspend production beginning March 23 at its Fremont, Calif., factory, where it assembles the Model X, Model S, Model 3 and now the Model Y.
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