LMP Automotive Holdings loses $2 million deposit

LMP Automotive Holdings Inc. has lost a more than $2 million deposit after its deal to buy an 85 percent stake in 10 franchised dealerships in Florida was terminated last month.

The publicly traded Fort Lauderdale, Fla., company, in a Wednesday regulatory filing, said dealer Alan Wildstein “was entitled to retain earnest money deposits” totaling $2,000,500 because asset purchase agreements were terminated Feb. 16.

Wildstein declined to comment.

It marks the second seven-figure deposit the group has forfeited in recent months amid acquisition deals falling through. In that deal, LMP lost a $1.5 million deposit after its plan to buy five import dealerships in Texas from Steve McGavock was terminated Jan. 31.

Last month, LMP said it planned to cancel its pending dealership acquisitions because it was unable to obtain financing to pay for them. At least one other of LMP’s seven pending deals has been terminated, for Chantz

Read More

Why Rivian Automotive Stock Popped 6.5% Monday

What happened

Shares of Rivian Automotive ( RIVN 6.51% ) dropped last week when it was reported that the company idled production in early January at its Illinois manufacturing plant and that there is local opposition to its previously announced second assembly plant planned in Georgia. But shares rebounded today, and it ironically might have more to do with a different electric vehicle (EV) start-up. Shares of Rivian jumped as much as 7.4% today, closing Monday’s session up 6.5%.

So what

EV investors are watching closely for widely followed electric car maker Lucid Group ( LCID 9.98% ) to report its fourth-quarter and full-year 2021 financial update today after the bell. Rivian will follow that with its report on March 10. Lucid stock soared today leading up to its report and on word that it will announce plans for its second manufacturing plant. That was one of the things that

Read More


PHOTO (select to view enlarged photo)
Screen Shot from 1997 Automotive Hall of Fame Grand Opening Gala Cybercast, Caroll Shelby interview

Co-founders Note February 27 2022, 26 years later. The Auto Channel was at the AOF and streaming LIVE from the Grand Opening of The Automotive Hall of Fame Gala, creating the world’s first live cybercast event, ever.

As you can see from the the coverage elements and a list of interviewees, we have uncovered a historic treasure.

So why can’t you watch these historic videos?

The problem is that Microsoft stopped supporting the streaming technology we used, although they swore to us that they would support it forever.

The Auto Channel’s pioneering video streaming team is ready to serve these videos, so, if there are any Microsoft folks here who wish to help we would love to have them provide the code so we can recode to bring these video pieces to life. [email protected]


Read More

Automotive Visor

Transport infrastructure consists of the fixed installations, together with roads , railways , airways , waterways , canals and pipelines and terminals reminiscent of airports , railway stations , bus stations , warehouses , trucking terminals, refueling depots (including fueling docks and gas stations ) and seaports Terminals may be used each for interchange of passengers and cargo and for upkeep. Harley-Davidson has used various ignition programs all through its historical past – be it the early factors and condenser system, (Large Twin as much as 1978 and Sportsters up to 1978), magneto ignition system used on some 1958 to 1969 Sportsters, early electronic with centrifugal mechanical advance weights, (all fashions 1978 and a half to 1979), or the late digital with transistorized ignition management module, more familiarly often called the black field or the mind, (all fashions 1980 to present).

One in every of solely two American cycle manufacturers … Read More