NATCHEZ – On Wednesday, Syrah Resources Limited released additional information about a kidnapping agreement it signed with Tesla Inc., which states that the agreement will only go into effect if certain conditions are met. Syrah`s initial announcement on Dec. 23 indicates that they have entered into a removal agreement with Tesla Inc. to supply an active natural graphite anode material, or AAM, from its production facility in Vidalia, Louisiana. This material is widely used to power lithium-ion batteries in electric vehicles. Syrah officials said the “terms of the deal have been thoroughly negotiated” as the company plans to expand its Vidalia plant by $137.5 million. “The importance and materiality of the agreement with Tesla for Syrah is that it provides a basis for the initial expansion of Vidalia`s production capacity,” Syrah officials said in a press release Wednesday. “The terms of the agreement, including volume, price and duration, will help Syrah finalize its investment decision for Vidalia. Syrah plans to make a final investment decision for the construction of this expanded facility in January 2022, subject to funding commitments. It is noteworthy that $130 million from Tesla`s verdict was punitive damages. The bad actors weren`t just colleagues; There was malice, oppression or fraud on the part of a Tesla “management agent,” a senior executive with many opportunities to stop the harassment, who did not. The recruitment agency, even though it had been informed of the violations, had few opportunities to observe or stop the ongoing harassment. Analysts say it`s hard to imagine what Musk would gain if he undermined a deal with Hertz.
If it paid $43,990 for a Model 3, as reported on Tesla`s website, the deal would be worth well over $4 billion for the automaker. Gene Munster of Loup Ventures says this plays into a larger pattern of unpredictability that investors have learned to live with. It is unclear what this means, if any, for the agreement. Hertz has already shot a commercial with NFL star Tom Brady. And on Tuesday, communications director Lauren Luster said deliveries of the company`s “first order” had begun and it was similarly investing in electric vehicle charging infrastructure. According to the DOL rules, which came into force on September 28, the Fair Labor Standards Act provides for vertical joint employment in which “an employee has an employment relationship with an employer (usually a recruitment agency, subcontractor, placement agent or other intermediate employer)”, another employer “benefits from the employee`s work” and “shows the economic realities, that the employee is economically dependent on the other employer and therefore employed by the latter. On Wednesday, Syrah released additional information indicating that the purchase obligation is conditional on both parties agreeing to AAM`s final specifications by December 31, 2022 and obtaining AAM`s final qualification to Tesla`s satisfaction no later than May 31, 2025. Professional Employers` Organizations (PEOs), which include ADP TotalSource and TriNet recruitment agencies, generally identify as joint employers, as well as the construction site or employer hiring. PEOs may maintain insurance coverage for themselves and for these businesses, but these policies may not cover a claim for punitive damages, especially not as high as in Tesla`s case. Under the doctrine of joint and several liability, the hiring company could pay the entire bill for a disproportionate price. There are undoubtedly good reasons – taxes, economy, flexibility – to use an external workforce, but avoiding lawsuits of discrimination and harassment in the workplace is not one of them, at least in California.
Tesla, which calls the Golden State its headquarters but plans to move, has already settled at least one discrimination lawsuit and faces a number of other such lawsuits. Musk had reacted to a tweet that showed Tesla stock closed Monday with an 8.5% rise. “You are welcome!” he wrote, “If all this is based on Hertz, I would like to point out that no contract has been signed yet.” The bottom line is that temporary workers are in most cases also employees of the company. In late October, Hertz CEO Mark Fields said his company`s biggest investors had been in contact with Tesla for months. Hertz, which also operates the Dollar and Thrifty brands, was hit hard at the start of the pandemic, eroding business travel and rental demand. It filed for bankruptcy in May 2020 and has only recently exited it. Fields says he wants to be one step ahead in a world where electric vehicles are the norm. This can be seen, among other things, in the question of whether the employee must follow the employer`s instructions and whether there was a right to terminate the service at any time. The deal can also be terminated if production has not started by May 31, 2024, Syrah said. If these conditions are met, Tesla will deduct 8 kt per year from the proposed initial expansion of AAM`s production capacity at Vidalia, which represents the majority of the plant`s planned production capacity of 10 kt per year. When a California jury issued a record verdict against Tesla for racial discrimination on Oct.
4, it sent shockwaves through the business world, but especially into the ranks of companies that regularly use contract workers. Musk put it differently in an April 2019 tweet: “My Twitter is pretty much complete nonsense at this point.” The black elevator operator, who was repeatedly treated racially, including the frequent use of the N word, was employed by an external recruitment agency. .