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September 5th - US President Trump posted that it has been an incredible summer for the American tourism industry. Americans have traveled nearly 300 billion miles, our national parks welcomed 78 million visitors, and millions more traveled by air. The FIFA World Cup alone brought in over $18 billion for our economy and supported over 160,000 jobs! Tourism means jobs, investment, and billions of dollars flowing into American businesses and communities. We are cutting red tape and modernizing air travel to make it easier to travel and do business in the United States. America is opening its doors to the world—and the best is yet to come.On September 5th, U.S. District Judge Trevor McFadden rejected a temporary restraining order application filed by Stars and Stripes publisher Max Laidler, editor-in-chief Eric Slavin, and Middle East journalist Lara Colter on September 4th, allowing the Department of Defense to proceed with the dismissal of the three. The judge ruled that the three had failed to demonstrate that their First Amendment rights were likely violated. The three had previously sued the Department of Defense, claiming they were being retaliated against for publicly supporting Stars and Stripes editorial independence and related reporting. In his ruling, Judge McFadden stated that while Slavin and Colter had been granted permission to give interviews, existing materials showed they were making these statements in the course of official duties, not as private citizens. Regarding Laidler, the judge stated that his failure to follow orders was not protected by the First Amendment.On September 5th, US President Trump posted: "Great news! Our booming economy added 162,000 jobs in August to honor the great American workers we celebrate this year (and every year!) for Labor Day." This strong figure is almost three times the prediction of so-called "economists" in a Bloomberg survey—people still suffering from "Trump mania." The impact of Trumps economic boom is evident across numerous industries. This administrations fair trade policies, implemented through a superb tool called "tariffs," have reshaped the global economic landscape, bringing manufacturing jobs back to the US on an unprecedented scale. Factory construction is booming as businesses utilize the "full deduction" policy (full deduction within one year). Soon, these factories will be packed with American workers.September 5th - The 5th China-Canada (China-Canada) Defence Working Meeting was held in Canada on September 4th. Both sides exchanged candid and in-depth views on international and regional issues of common concern, expressed their positive desire to strengthen practical exchanges and cooperation between the two militaries, and enhanced mutual understanding and trust.September 5 - According to the Lebanese National News Agency on the 4th, Israel launched airstrikes on several areas in southern Lebanon that day, resulting in at least 5 deaths and 23 injuries.

An investor in Faraday Future sues an EV startup for dismissing two directors

Haiden Holmes

Sep 20, 2022 10:56

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According to a court filing, FF Top Holding, a shareholder in Faraday Future Intelligent Electric, has filed a lawsuit demanding the removal of two board members, escalating the fight over the company's board restructure.


FF Top has pushed pressure on the firm, which has not yet begun manufacturing its FF 91 premium electric vehicle, to oust executive chairman Susan Swenson and board member Brian Krolicki.


The shareholder group, which holds over 20% of the company's stock and roughly 36% of its voting rights, alleged in a lawsuit filed at the Delaware Court of Chancery on Monday that the corporation is "suffering from a crisis of leadership at the board level."


FF Top said that the "current board has wrecked the organization."


In a separate filing with the U.S. securities regulator, the shareholder announced that it had notified the company of its nomination of Li Han and Xin (Adam) He as replacements for Swenson and Krolicki.


Multiple Faraday Future employees petitioned the board and shareholders to remove Swenson last month on the grounds that he oversaw efforts to "push the company into bankruptcy and restructuring."


FF Top delivered a demand for Swenson's removal to the company earlier this month.


The FF 91 production by the Los Angeles-based company has been delayed until the fourth quarter of 2022 because of high costs and supply-chain difficulties.


PricewaterhouseCoopers, the company's auditor, resigned last month, citing the corporation's inadequate internal controls.


Since Faraday Future went public in a reverse merger with a blank-check company in July of last year, its shares have dropped by around 93%.