Postponing gives the workers who are responding to new requirements sufficient time to become fully vaccinated. And it gives companies more time to set up the logistics that accompany vaccination mandates, such as processes for tracking vaccination status and, soon, who has received a booster.
“Within a company, a C.E.O. can say: ‘Our company, our culture, our business. We need to be together, we need to be in the office, this is the date,’” said Mary Kay O’Neill, a senior health consultant at Mercer Consulting Group. “And then our friends in H.R. are like, ‘How are we going to do that?’”
For some organizations, negotiations with unions are also a factor.A spokeswoman for NPR, which has not set a date for returning to the office, said the public radio network was working “with key stakeholders, including our unions, to evaluate the best approaches to keeping our staff safe and maintaining our operations.”
With new logistics around vaccine mandates, continued uncertainty around variants, and increasingly vocal employee demands, some companies, including The New York Times and American Airlines, have opted out of setting return dates.
The agility of technology companies, alongside industries like consulting and media, is in many ways unique. CVS Health is still eyeing a fall return, albeit with a degree of flexibility worked in. And many employees never went home at all — with a good portion of workers at companies like General Motors, Ford Motor and Chevron having worked on-site throughout most of the pandemic.
Many companies that did send employees home remain eager to bring them back. The longer workers stay out of the office, the harder it may be to cajole their return. And real estate costs are difficult to justify if offices are left empty.
In finance, which traditionally puts a priority on in-person apprenticeship and hustling, the prominent firms have made being in the office a recruiting tool. Goldman Sachs brought back its employees in June and JPMorgan Chase in July. The rise of the Delta variant didn’t slow those plans down, but it did seemingly expedite measures to prevent the spread of the virus. Goldman said last month that it would require anyone who entered its U.S. offices, including clients, to be fully vaccinated.
George Brian McGee, a finance executive in Florida, was driving home in a Tesla Model S operating on Autopilot, a system that can steer, brake and accelerate a car on its own, when he dropped his phone during a call and bent down to look for it.
Neither he nor Autopilot noticed that the road was ending and the Model S drove past a stop sign and a flashing red light. The car smashed into a parked Chevrolet Tahoe, killing a 22-year-old college student, Naibel Benavides.
One of a growing number of fatal accidents involving Tesla cars operating on Autopilot, Mr. McGee’s case is unusual because he survived and told investigators what had happened: He got distracted and put his trust in a system that did not see and brake for a parked car in front of it. Tesla drivers using Autopilot in other fatal accidents have often been killed, leaving investigators to piece together the details from data stored and videos recorded by the cars.
“I was driving and dropped my phone,” Mr. McGee told an officer who responded to the accident, according to a recording from a police body camera. “I looked down, and I ran the stop sign and hit the guy’s car.”
Distracted driving can be deadly in any car. But safety experts say Autopilot may encourage distraction by lulling people into thinking that their cars are more capable than they are. And the system does not include safeguards to make sure drivers are paying attention to the road and can retake control if something goes wrong.
Mr. McGee, who declined to comment through his lawyer, told investigators that he was on the phone with American Airlines making reservations to fly out for a funeral. He called the airline at 9:05 p.m. on April 25, 2019. The call lasted a little more than five minutes and ended two seconds after his Model S crashed into the Tahoe, according to a Florida Highway Patrol investigation. Florida law makes it illegal to text while driving, but the state does not prohibit drivers from talking on a hand-held cellphone except in school or work zones.
no vehicle on sale today is close to achieving.
Tesla’s critics contend that Autopilot has several weaknesses, including the ability for drivers like Mr. McGee to use it on local roads. With the help of GPS and software, G.M., Ford Motor and other automakers restrict their systems to divided highways where there are no stop signs, traffic lights or pedestrians.
Tesla owners’ manuals warn customers not to use Autopilot on city streets. “Failure to follow these instructions could cause damage, serious injury or death,” the manual for 2019 models says.
a California couple sued Tesla in connection with a 2019 crash that killed their 15-year-old son.
The National Highway Traffic Safety Administration is investigating more than two dozen crashes that occurred when Autopilot was in use. The agency said it was aware of at least 10 deaths in those accidents.
A Commute Ends in Tragedy
posted videos on YouTube showing that the camera sometimes fails to notice when drivers look away from the road and that it can be fooled if they cover the lens. When the camera notices a Tesla driver looking away from the road, it sounds a warning chime but does not turn Autopilot off.
G.M. and Ford systems use infrared cameras to monitor drivers’ eyes. If drivers look away for more than two or three seconds, warnings remind them to look straight ahead. If drivers fail to comply, the G.M. and Ford systems will shut off and tell drivers to take control of the car.
Ms. Benavides emigrated from Cuba in 2016 and lived with her mother in Miami. She worked at a Walgreens pharmacy and a clothing store while attending community college. An older sister, Neima, 34, who is executor of the estate, said Naibel had been working to improve her English in hopes of getting a college degree.
“She was always laughing and making people laugh,” Neima Benavides said. “Her favorite thing was to go to the beach. She would go almost every day and hang out with friends or just sit by herself and read.”
Neima Benavides said she hoped the lawsuit would prod Tesla into making Autopilot safer. “Maybe something can change so other people don’t have to go through this.”
Ms. Benavides had just started dating Mr. Angulo when they went fishing on Key Largo. That afternoon, she sent her sister a text message indicating she was having a good time. At 9 p.m., Ms. Benavides called her mother from Mr. Angulo’s phone to say she was on the way home. She had lost her phone that day.
On the 911 call, Mr. McGee reported that a man was on the ground, unconscious and bleeding from the mouth. Several times Mr. McGee said, “Oh, my God,” and shouted “Help!” When an emergency operator asked if the man was the only injured person, Mr. McGee replied, “Yes, he’s the only passenger.”
Mr. Angulo was airlifted to a hospital. He later told investigators that he had no recollection of the accident or why they had stopped at the intersection.
An emergency medical technician spotted a woman’s sandal under the Tahoe and called on others to start searching the area for another victim. “Please tell me no,” Mr. McGee can be heard saying in the police video. “Please tell me no.”
Ms. Benavides’s body was found about 25 yards away.
The people here are not Hollywood stars or billionaire tech entrepreneurs who might own Ferraris and private jets. But they are well off. The median household income in the area exceeds $165,000, and half the homes are valued at more than $1 million. Eight in 10 residents have at least an undergraduate degree. As early buyers with high incomes, they can easily take advantage of the federal E.V. tax credit.
The incentives are, in effect, “subsidizing my luxury,” said Mr. Teglia, who also has solar panels on his home. The Model 3s he owns sell for about $40,000 before government incentives.
Dr. Jack Hsiao, an obstetrician-gynecologist, had avoided buying an electric vehicle for fear that he wouldn’t be able to drive very far before having to plug in — a phenomenon known as range anxiety. But his sister, who moved to California from Texas and bought solar panels and a Tesla, persuaded their father, who lives with Dr. Hsiao, 54, to buy one, too. Following his family, Dr. Hsiao bought a Tesla and solar panels.
“Gas prices have just gone through the roof, and so, given that I’ve got the solar panels, it cost me next to nothing to charge,” he said. “For me, it was just a perfect fit.”
Elaine Borseth, a retired chiropractor, is another convert. Before she bought a Model S, she had never spent more than $20,000 on a car. But after seeing several of the big, sporty sedans on the road, she drove one about seven years ago. “I thought they were sleek and sexy,” said Ms. Borseth, who now runs the Electric Vehicle Association of San Diego.
“It’s almost one of those cases where the more you see, it just kind of breeds upon itself,” she said to explain why her neighborhood has so many electric cars.
Some customers have balked at paying top dollar for new cars and have opted to make do with older vehicles. That has increased demand for parts and service, one of the most profitable businesses for car dealers. Many dealers have extended repair-shop hours. Mr. Ricart said he had some repair technicians putting in 10- or 12-hour days three or four days in a row before taking a few days off.
Of course, the shortage of cars will end, but it isn’t clear when.
As Covid-19 cases and deaths rose last spring, automakers shut down plants across North America from late March until mid-May. Since their plants were down and they expected sales to come back slowly, they ordered fewer semiconductors, the tiny brains that control engines, transmissions, touch screens, and many other components of modern cars and trucks.
At the same time, consumers confined to their homes began buying laptops, smartphones and game consoles, which increased demand for chips from companies that make those devices. When automakers restarted their plants, fewer chips were available.
Many automakers have had to idle plants for a week or two at a time in the first half of 2021. G.M., Ford Motor and others have also resorted to producing vehicles without certain components and holding them at plants until the required parts arrive. At one point, G.M. had about 20,000 nearly complete vehicles awaiting electronic components. It began shipping them in June.
Ford has been hit harder than many other automakers because of a fire at one of its suppliers’ factories in Japan. At the end of June, Ford had about 162,000 vehicles at dealer lots, fewer than half the number it had just three months ago and roughly a quarter of the stock its dealers typically hold.
This month, Ford is slowing production at several North American plants because of the chip shortage. The company said it planned to focus on completing vehicles.
Mr. Ricart recently took a trip on his Harley-Davidson to Louisville, Ky., and got a look at the trucks and S.U.V.s at a Ford plant that are waiting to be finished. He said he had seen “thousands of trucks in fields with temporary fencing around them.”
China’s economy is on a tear. Factories are humming, and foreign investment is flowing in. Even so, the wealthy and powerful people atop some of the country’s most prominent companies are heading for the exits.
The latest are Pan Shiyi and Zhang Xin, the husband-and-wife team that runs Soho China, a property developer known for its blobby, futuristic office buildings. In striking a deal this week to sell a controlling stake to the investment giant Blackstone for as much as $3 billion, Mr. Pan and Ms. Zhang are turning over the company as high-profile entrepreneurs come under public and official scrutiny in China like never before.
Soho China did not respond to a request for comment.
China’s most famous tycoon, the Alibaba co-founder Jack Ma, has kept an uncharacteristically low profile since late last year, when the government began a regulatory crackdown on his companies and the wider internet industry. Colin Huang, founder of the Alibaba rival Pinduoduo, resigned as chairman in March, less than a year after he stepped down as chief executive. In May, Zhang Yiming, founder of TikTok’s parent company, ByteDance, said he would hand over the chief executive post to focus on long-term strategy.
Under the Communist Party’s top leader, Xi Jinping, nationalism has been resurgent in China, and the government has sought to exert more direct influence over the private sector. Even before this week’s sale, Mr. Pan and Ms. Zhang of Soho China had been avoiding the spotlight more than they did during an earlier, freer era of China’s economic revival.
going after businesspeople and intellectuals with big online followings. The police that year arrested Wang Gongquan, a friend of Mr. Pan’s and supporter of human rights causes, on charges of disrupting public order.
Mr. Pan and Ms. Zhang began selling off property holdings in China and spending more time in the United States. The family of Ms. Zhang and the Safra family of Brazil, long involved in international banking, teamed up to buy a 40 percent stake in the General Motors building in Manhattan.
They noted that the couple donated generously to Harvard and Yale but not to Chinese universities.
After media reports accused Soho China of “fleeing” Shanghai by selling projects there, Mr. Pan wrote on Weibo: “Buying and selling is normal. Don’t read too much into it.”
The company’s last big public event was the opening of Leeza Soho, a lithe, spiraling skyscraper in Beijing, in late 2019. Zaha Hadid, the famed architect who designed the tower and a friend of Ms. Zhang’s, had died a few years earlier.
Last year, Ren Zhiqiang, a retired property mogul and friend of Mr. Pan’s, was detained for an essay he shared with friends on a private chat group. The essay criticized Mr. Xi’s handling of the coronavirus outbreak and the direction he was taking the country. Mr. Ren was sentenced to 18 years in prison.
Today, Mr. Pan’s and Ms. Zhang’s Weibo accounts are filled with bland, friendly material: holiday greetings, book recommendations, photos of flowers in bloom outside Soho China buildings. Both of their accounts are set to display only the past half year’s posts.
On Wednesday night, minutes after Soho China announced the sale on its official Weibo account, Mr. Pan reposted the announcement without comment, in what online commentators called a “silent farewell.”
Lordstown Motors, a start-up aiming to make electric pickup trucks, said on Monday that it would “at best” make just 50 percent of the vehicles it had previously hoped to this year.
Lordstown gained attention because it purchased an auto plant in Lordstown, Ohio, that General Motors had closed. It was also once hailed by former President Donald Trump for saving manufacturing jobs.
The company, which said Monday it was on track to start production in September, became a publicly traded company last year by merging with a special purpose acquisition vehicle, a company set up with cash from investors and a stock listing. Several other electric vehicle and related businesses have gone public through similar mergers in recent months taking advantage of investors desire to find the next Tesla.
Lordstown, which is being investigated by the Securities and Exchange Commission, said it lost $125 million in the first quarter of 2021, but ended the period with $587 million in cash.
After the news of its production outlook was released, Lordstown’s stock fell about 8 percent in after-hours trading, to just under $9. The stock briefly traded at about $30 last year.
Ford Motor is about to open a major new front in the battle to dominate the fast-growing electric vehicle market, and it’s banking on one of the world’s most powerful business franchises.
In a splashy presentation Wednesday night at a Ford plant in Dearborn, Mich., the automaker will unveil an electric version of its popular F-150 pickup truck, which will be called the Lightning. Ford’s F-Series trucks, including the F-150, make up the top-selling vehicle line in the United States, and typically generate about $42 billion a year in revenue, according to a study commissioned by Ford — or more than twice what McDonald’s brought in last year.
It is one of the most anticipated introductions of a new car and invites comparisons to Ford’s Model T, the car that made automobiles affordable to the masses. Ford has a lot at stake in the new vehicle’s success. If it can turn the F-150 Lightning into a big seller, it could accelerate the move toward electric vehicles, which scholars say is critical for the world to avoid the worst effects of climate change.
Tailpipe pollution from cars and trucks represents the largest source of greenhouse gas emissions in the United States and one of the largest in the world. But if the Lightning does not sell well, it could suggest that the transition to E.V.s will be a lot slower than President Biden and other world leaders need to achieve climate goals.
auto industry’s E.V. push, which has been aimed at niche markets so far. Tesla has grown rapidly for the last several years by selling flashy sports cars to the affluent and early adopters. It sold close to 500,000 cars globally last year, a little more than half as many F-Series trucks Ford sold. Other electric models that have sold well have been small cars, such as the Chevrolet Bolt and Nissan Leaf, that appeal to environmentally minded consumers.
The F-150 Lightning, in contrast, is aimed at small businesses and corporate customers such as building contractors and mining and construction companies that buy lots of rugged pickups. These buyers typically care not just about the sticker price of a truck but also how much it costs to operate and maintain. Electric vehicles tend to cost more to buy but less to own than conventional cars and trucks because they have fewer parts and electricity is cheaper than gasoline or diesel on a per mile basis.
“There are a lot of big fleets who have been looking for green solutions but haven’t had any answers until now,” William C. Ford Jr., the company’s chairman and a great-grandson of Henry Ford, said in an interview.
General Motors and start-ups like Rivian are also working on electric pickups. Rivian has said it will start delivering its truck, the R1T, this summer and G.M. is expected to sell the GMC Hummer pickup truck later this year.
many people will buy them. Beyond commercial buyers, trucks like the F-150, Chevrolet Silverado and the Ram tend to be bought by people who have a lot of stuff to haul or by people — usually men — who like driving trucks.
“There will probably be some initial raised eyebrows, but once we get people to experience the driving dynamics and the extra room, the skepticism will abate,” Mr. Ford said.
The F-Series trucks have been the top-selling model line in the United States for the last 44 years. A 2020 study by the Boston Consulting Group found the truck supports 500,000 jobs at Ford, parts suppliers and dealerships.
Ford’s introduction of the Lightning got a major boost from Mr. Biden, who on Tuesday visited the company’s Rouge Electric Vehicle Center where the pickup will be made. Before a pool of White House reporters gathered at the plant, Mr. Biden pulled up behind the wheel of a prototype covered in black-and-white camouflage sheeting used to conceal the shape of the truck ahead of the Wednesday event.
“This sucker’s quick,” Mr. Biden said, and let slip that the truck can zoom to 60 miles an hour in 4.4 seconds, a detail that wasn’t supposed to be released until Wednesday. Mr. Biden then zoomed off, reaching a top speed of 80 m.p.h.
The Secret Service normally does not allow presidents to drive. Ford officials were not sure Mr. Biden would drive the truck until he arrived at the Rouge center, but it’s not a surprise he did.
Mr. Biden is a well known car enthusiast and owns a green 1967 Corvette that was given to him by his father as a wedding present. In 2016, he and his Corvette appeared on an episode of “Jay Leno’s Garage,” in which he drove the car at an enclosed Secret Service training facility.
with union labor closely aligns with the Biden administration’s goal to cut greenhouse gas emissions, increase domestic manufacturing, support unions and accelerate the transition to electric vehicles.
The administration’s $2 trillion infrastructure proposal includes money to help build half a million charging stations and incentives for the purchase of electric vehicles.
Ford has said it plans on spending $22 billion to develop electric vehicles over a five-year period ending in 2025.
Other automakers are moving in the same direction. G.M. is spending a similar sum and has said it aims to produce only electric vehicles by 2035, setting a target date for phasing out the internal combustion engine, which has powered the auto industry for more than a century.
G.M. recently introduced an updated version of its electric car, the Chevrolet Bolt. It also plans to make an electric version of its popular Silverado pickup truck, which is one of the biggest competitors to the F-150.
Last February, when Glauber Contessoto decided to invest his life savings in Dogecoin, his friends had concerns.
“They were all like, you’re crazy,” he said. “It’s a joke coin. It’s a meme. It’s going to crash.”
Their skepticism was warranted. After all, Dogecoin is a joke — a digital currency started in 2013 by a pair of programmers who decided to spoof the cryptocurrency craze by creating their own virtual money based on a meme about Doge, a talking Shiba Inu puppy. And investing money in obscure cryptocurrencies has, historically, been akin to tossing it onto a bonfire.
But Mr. Contessoto, 33, who works at a Los Angeles hip-hop media company, is no ordinary buy-and-hold investor. He is among the many thrill-seeking amateurs who have leapt headfirst into the markets in recent months, using stock-trading apps like Robinhood to chase outsize gains on risky, speculative bets.
In February, after reading a Reddit thread about Dogecoin’s potential, Mr. Contessoto decided to go all in. He maxed out his credit cards, borrowed money using Robinhood’s margin trading feature and spent everything he had on the digital currency — investing about $250,000 in all. Then, he watched his phone obsessively as Dogecoin became an internet phenomenon whose value eclipsed that of blue-chip companies like Twitter and General Motors.
disavowed the coin, and even Mr. Musk has warned investors not to over-speculate in cryptocurrency. (Mr. Musk recently sent the crypto markets into upheaval again, after he announced that Tesla would no longer accept Bitcoin.)
What explains Dogecoin’s durability, then?
There’s no doubt that Dogecoin mania, like GameStop mania before it, is at least partly attributable to some combination of pandemic-era boredom and the eternal appeal of get-rich-quick schemes.
But there may be more structural forces at work. Over the past few years, soaring housing costs, record student loan debt and historically low interest rates have made it harder for some young people to imagine achieving financial stability by slowly working their way up the career ladder and saving money paycheck by paycheck, the way their parents did.
Instead of ladders, these people are looking for trampolines — risky, volatile investments that could either result in a life-changing windfall or send them right back to where they started.
posted a screenshot of his cryptocurrency trading app, showing that he’d bought more. And on Thursday, when the value of his Dogecoin holdings fell to $1.5 million, roughly half what it was at the peak, he posted another screenshot of his account on Reddit.
Mr. Burns’s tenure at Workhorse was decidedly mixed. Workhorse has lost money for years, and its annual revenue was never more than $10 million when Mr. Burns ran the company. One of his initiatives was a bid to supply delivery vehicles to the U.S. Postal Service. While the company was a finalist, it lost to another bidder in February.
Workhorse paid Mr. Burns $1.24 million from 2015 to 2018, according to Equilar, a firm that analyzes corporate compensation. He probably forfeited his stock options at Workhorse by resigning in 2019, but the company gave him a consulting agreement with stock options that Equilar valued at $10.7 million.
What really propelled Mr. Burns and Lordstown was the merger with DiamondPeak.
Backed by some of the principals of the New York investment firm Silverpeak, DiamondPeak raised $250 million from investors when it went public in March 2019, about a year before special purpose acquisition companies became the hottest thing on Wall Street. In securities filings, DiamondPeak said it would probably acquire a real estate business, which made sense because it was led by David Hamamoto, a former Goldman Sachs banker who specialized in that industry.
DiamondPeak decided to buy Lordstown after Mr. Hamamoto was introduced to Mr. Burns in June by Goldman bankers. The deal prospectus said Goldman had known Mr. Burns because of a prior investment banking relationship with him at Workhorse.
Both sides were eager. Lordstown and its backers needed more money, and DiamondPeak was on a deadline to complete a merger to comply with the terms of its initial public offering.
The merger included a fresh investment of $500 million from BlackRock, Fidelity Investments, Wellington Management and others.
Shares of DiamondPeak, later renamed Lordstown Motors, took off even before the merger closed. Some of the sponsors of DiamondPeak were registered in a prospectus late last year to allow them to sell some of their shares in the combined company, along with other investors in the financing deal. Included in the prospectus were some of the bankers at Brown Gibbons Lang, an investment bank, and lawyers with BakerHostetler, a Cleveland-based law firm that reviewed the financing package. Altogether, insider sales have totaled $11 million since the end of December.
WASHINGTON — The Biden administration announced on Wednesday that it was asking Mexico to review whether labor violations had occurred at a General Motors facility in the country, a significant step using a new labor enforcement tool in the revised North American trade deal.
The administration is seeking the review under the novel “rapid response” mechanism in the United States-Mexico-Canada Agreement, which replaced the North American Free Trade Agreement and took effect last summer. Under the mechanism, penalties can be brought against a specific factory for violating workers’ rights of free association and collective bargaining.
The administration “received information appearing to indicate serious violations” of workers’ rights at the G.M. facility, in Silao in the central state of Guanajuato, in connection with a recent vote on their collective-bargaining agreement, the Office of the United States Trade Representative said.
The vote was stopped last month amid accusations that the union at the facility had tampered with it, according to news reports. Mexico’s Labor Ministry said on Tuesday that it had found “serious irregularities” in the vote and ordered that it be held again within 30 days.
filed a complaint under the rapid response mechanism in which they alleged labor violations at the Tridonex auto parts plants in the Mexican city of Matamoros, across the border from Brownsville, Texas.
The Biden administration will review that complaint, an official in the trade representative’s office said. It could then ask Mexico to conduct a review of that matter akin to the one it is seeking of the G.M. facility.
Oscar Lopez contributed reporting from Mexico City.