Latest news with #Everstream
Forbes
3 days ago
- Automotive
- Forbes
Tariff Havoc Is Forecasted To Create A Global Supply Chain Collapse
FILE - The Ford logo is seen above the entrance to the Ford Motor Company Kentucky Truck Plant, ... More Wednesday, April 30, 2025, in Louisville, Ky. (AP Photo/Carolyn Kaster, file) Everstream Analytics shared some data and insights from Mirko Woitzik, their Head of Risk Intelligence, with me. Everstream is a leader in supply chain risk management. It is important to understand how supply chain risk management solutions work to understand whether Mr. Woritzik is just crying 'Wolf' when he warns that global supply chains are on the edge of collapse. SCRM is a network-based solution. SCRM solutions are the most interesting application of AI and Big Data in the supply chain realm. Users are connected to real-time alerts generated by a vast number of online publications, social media feeds, and third-party purchased data. In 2025, Everstream reported that it had collected over 3 trillion data points over the last 10 years and processed 8 million sources daily. The numbers would be much larger today. Examples of third-party data would include weather forecasts, sustainability ratings, or credit reports on a company's financial viability. One of the players in this market. AI is used to help surface the alerts and make sure they are valid. This data needs to be curated. The curation is created by carefully mapping a customer's supply chain. For example, a manufacturer might have a supplier in Hanoi from which they purchase key components. Those components get trucked by the Vietnamese Railways, loaded, and then transported to the Haiphong port, where a freight forwarder ensures the container is loaded on an Ocean carrier. The goods are then shipped to the Port of Long Beach, unloaded, and then trucked to a factory in Fresno. Every step in that digital twin of the supply chain has search terms associated with it. The names of the suppliers, carriers, and logistics service providers become search terms. Those search terms are paired with terms signaling a problem – those terms might be 'bankruptcy,' 'plant fire', 'port explosion,' 'strike', and many, many other terms. So, the term 'Haiphong', when combined in an article with the phrase 'port fire', would generate an alert. And because human language lacks sufficient precision, artificial intelligence is used to help generate fewer false positive alerts over time. So, AI learns over time that the term 'go belly up' can mean bankruptcy. When this alert data is aggregated, an understanding of critical industries' end-to-end supply chains results. This allows for robust predictive analytics surrounding the larger macroeconomic environment. In short, Everstream has high-quality data on which they can base their dire forecast of coming supply chain turmoil. The tariff situation in the U.S. continues to evolve. A panel of federal judges at a specialized court focused on customs and trade issues – the Court of International Trade - blocked most of the Trump administration's tariffs Wednesday, ruling that the president had exceeded his authority in imposing the sweeping levies on goods imported from around the world. The U.S. Court of Appeals then granted the administration's request, pausing the trade court's decision until the matter can be adjudicated by the appeals court. This means Trump's tariffs can continue for now. Meanwhile, China's approach has been more consistent. While other nations' tariffs are negotiable, China realizes that they are likely to eventually be subject to much higher U.S. tariffs than the rest of the world. China has responded with export controls. After President Donald Trump unveiled his 'reciprocal' tariffs on 'Liberation Day,' China retaliated with duties and export controls on rare earth minerals. These minerals are critical to the automotive, aerospace, tech, wind turbine, and defense sectors. Then, in the middle of May, those tariffs were paused, and China and the U.S. agreed to roll back their retaliatory levies to lower levels. China also agreed to roll back some of the non-tariff measures it implemented in retaliation against U.S. tariffs. It was hoped that this would include restrictions on exports of rare earth metals. For firms headquartered in the U.S., that has not occurred. The Chinese export controls on rare earths, imposed in April 2025, are starting to ripple through global supply chains. Some of these disruptions are becoming public. The New York Times reported that Ford temporarily closed a factory in Chicago that makes Ford Explorer sports utilities because one of their suppliers ran out of these magnets. 'In most new cars, the magnets are used in dozens of electric motors that operate brake and steering systems, fuel injectors, and even power seats.' Close to 90% of rare earth metals are produced in China. China granted the first rare earth magnet export permits in mid-May, but it remains unclear for what quantities and for which customers. However, U.S. companies appear to be the primary targets. European and Asian companies seeking licenses from China appear to be having better success in getting these licenses. Everstream reports that in the next 3 weeks, we will see further impacts in the semiconductor and automotive industries. European semiconductor makers face severe shortages of rare earths. Production lines could grind to a halt as early as June 2025. Car plants and suppliers in Europe, the U.S., and Japan typically hold a two to three months' stockpile of material. This is being quickly depleted. Indian car and motorcycle manufacturers, including Tata Motors, Bajaj Auto, and Maruti Suzuki, are running out of supply this week, and production could shut down as early as the end of May. U.S. and European car makers face the same thing. Automakers will likely respond by prioritizing high-margin vehicle production while halting other factory lines. 'This is reminiscent,' Everstream says, 'of the early days of the global semiconductor shortage that started to hit automotive supply chains first in late 2020 before spreading to most other manufacturing industries reliant on the critical components.' At the time Volkswagen was the first automaker to warn of a global chip shortage. It then became clear this was more than a one-company problem. The Ford Explorer news is a similar early indicator of a greater problem. While stoppages due to difficulties getting rare earth materials are new, tariffs have disrupted the auto industry due to falling demand for pricier products. But in news the Trump administration welcomes, they have also led to plans to bring more production back to the United States. Nevertheless, shortages of rare earth materials, coming on top of the Auto industry's need to rejigger global supply chains, makes responding to this new supply chain crisis even more difficult. BMW announced a temporary halt to Electric Vehicle production in the U.S. in May. The automaker produces EVs in Germany rather than in its Spartanburg, South Carolina plant. They cited a murky tariff environment as the reason for the shutdown. This decision froze output for four electric models despite a 26% surge in EV sales in the first quarter of 2025. BMW also terminated 180 employees at a factory in Oxford in the U.K. BMW's strongest sellers in the U.S. are built in Spartanburg, South Carolina. The automaker is considering adding extra shifts there to increase U.S. production. Mercedes-Benz said they plan to shift high-volume model production to Alabama, U.S. This will occur by late 2027. They may end imports of lower-priced models to the U.S. Volkswagen has suspended shipping cars assembled in Mexico to the U.S. This resulted from the enforcement of 25% tariffs on vehicle imports on April 3. The company suspended rail shipments of autos from Mexico to the U.S. The German carmaker is also holding all vehicles delivered after April 3 at US ports of entry. This allows them to release vehicles to dealers when tariffs go down, re-export the vehicles, or charge more for the vehicles. The company will likely introduce an 'import fee' on affected vehicles after May. Volkswagen Group has claimed it will bring Audi production to the U.S. by 2027. Executives from all three of these German automakers are set to meet with the U.S. Department of Commerce to see if they can come to a mutually beneficial deal. While all three manufacturers operate factories within the U.S., the Trump administration has deemed output from these plants as insufficient investment. As a result, impending discussions will hinge on each automaker's willingness to continue to expand U.S. production. Among U.S. automakers, the news from General Motors is particularly bleak. The company laid off 750 workers at its Oshawa Assembly Plant in Canada and plans to reduce worker hours by moving from 3 shifts to two. This will begin in June. GM does plan to increase production at its plant in Fort Wayne, U.S. Other European companies include Stellantis and Volvo. But because Stellantis was formed by the merger of Fiat Chrysler Automobiles and PSA Group in 2021, the company has a significant manufacturing presence in North America. Stellantis had layoffs at their Windsor Assembly Plant in Canada from April 7 to April 21 and moved to a rotating shift schedule that began in May and will last through at least August. They also had temporary layoffs at their Toluca Assembly Plant in Mexico for the entire month of April. This led to temporary layoffs at plants in the U.S. due to the production halts in Canada and Mexico. Volvo has been hit hard. They had layoffs of 800 employees at three facilities in the U.S. that began in May and will extend to at least July. They are phasing out the China-made S90 model after 2025. And they announced a plan to cut 3,000 jobs in Sweden and other countries. They announced $1.87 billion in cost cuts and withdrew earnings forecast for the next two years. The Japanese car makers include Honda, Mazda, Mitsubishi, Nissan, and Toyota. Honda has shifted Civic Hybrid production from Japan to Indiana. Mazda has halted production of the CX-50 model for the Canadian market at the plant in Alabama, U.S. This halt began on May 12th. The company is withholding its annual profit guidance. Mitsubishi has suspended all vehicle deliveries to U.S. dealerships. Nissan has indefinitely suspended Mexico production of the QX50 and QX55 models for U.S. market. They have reduced production of Rogue SUV at their Kyushu Plant in Japan. This began in May and will be continued through July. They are also withholding profit guidance in their calls with financial analysts due to the financial uncertainty kicked up by the tariff turmoil.
Bloomberg
28-05-2025
- Business
- Bloomberg
Fiber Firm Everstream Files Bankruptcy After Debt Struggles
Fiber-network provider Everstream has filed for bankruptcy in Texas after struggling with its debt load and underperforming rivals. The Cleveland-headquartered company has about $1.06 billion of funded debt obligations, according to court papers dated Wednesday. The company is levered about 21 times, based on financial metrics as of the end of last year, the papers showed.
Business Wire
28-05-2025
- Business
- Business Wire
Everstream Reaches Agreement for Sale of Business to Bluebird Fiber
CLEVELAND--(BUSINESS WIRE)--Everstream (the 'Company'), a business-only fiber network, today announced that it has reached an agreement to sell substantially all of its operations to an affiliate of Bluebird Fiber ('Bluebird'), a regional provider of fiber-based connectivity solutions for businesses. The transaction will enable the Company to advance its core market optimization strategy from a strengthened financial position. This step follows Everstream's sale of its Illinois and St. Louis metropolitan area networks and its previously announced plan to wind down its Pennsylvania operations. 'Over the last decade, Everstream has established itself as a leading provider of fiber connectivity across the Midwest and Mid-Atlantic, distinguished by our speed, reliability, and expert support,' Everstream CEO Ken Fitzpatrick said. 'As we focus on advancing our core market optimization strategy, we have determined that a sale of our business is the best path to ensure Everstream meets the evolving connectivity needs of the businesses we serve for years to come. Under new ownership, we can continue to invest responsibly across our core markets for the benefit of our valued customers, employees, and other stakeholders.' 'We share Everstream's passion for providing mission-critical, high-quality business fiber services and putting our customers at the center of everything we do,' Bluebird CEO Jason W. Adkins said. 'We are excited about the opportunity to benefit from Everstream's best-in-class network, complementary footprint, and talented team members.' To complete this value-maximizing transaction in an efficient manner, Everstream and certain of its affiliates commenced voluntary chapter 11 proceedings in the United States Bankruptcy Court for the Southern District of Texas (the 'Court'). During these proceedings, Everstream will operate as usual, serving its valued enterprise, wireless, and wholesale customers without interruption. The Company has secured a commitment for $55 million of new money debtor-in-possession (DIP) financing from certain of its existing lenders, which, subject to Court approval and when combined with cash on hand, will fund the business through completion of the sale. The 'stalking horse' agreement with Bluebird was reached following an extensive marketing process and provides for the purchase of substantially all assets as well as the assumption of certain liabilities. The Company is seeking approval of this agreement pursuant to section 363 of the Bankruptcy Code, thereby making it subject to higher or otherwise better offers from other interested parties. If Bluebird is ultimately the successful bidder, it intends to retain the vast majority of the Company's employees across Everstream's markets at close. Completion of the sale to Bluebird, if the successful bidder, is targeted by year end, subject to satisfaction of all closing conditions, including regulatory approvals. The Company is also filing with the Court a series of customary motions to maintain business-as-usual operations and uphold commitments to its stakeholders during the process. These 'first day' motions include requests to continue to pay wages and provide benefits to employees in the ordinary course as well as maintain existing customer programs. Suppliers and contractors will be paid in the ordinary course for authorized goods received and services rendered after the filing. Additional information about the chapter 11 cases and proposed sale can be found at Suppliers and contractors with questions can call (855) 761-1230 (toll-free) or +1 (725) 240-7006 (international) or email EverstreamInquiries@ Weil, Gotshal & Manges LLP is serving as legal advisor, Alvarez & Marsal North America, LLC is serving as restructuring advisor, Bank Street Group is serving as M&A advisor, PJT Partners LP is serving as investment banker, and Kekst CNC is serving as strategic communications advisor to the Company. Kirkland & Ellis LLP is serving as legal advisor, Leo Berwick is serving as financial due diligence and tax advisor, and TD Securities is serving as sole financial advisor to Bluebird Fiber. About Everstream® Everstream has raised the bar for business connectivity, delivering a business-only fiber network with the speed, reliability, scale and performance that today's enterprises demand. With approximately 24,000 route miles of fiber and speeds up to 100 Gbps, Everstream's enterprise-grade network delivers robust business fiber services, including dedicated internet access, dark fiber, Ethernet and data center solutions. Through its 'Do What You Say You Will Do' approach, Everstream is a valued partner dedicated to the success of business customers. For more information, visit About Bluebird Fiber Bluebird Fiber is a communications infrastructure provider and data center operator. Since 1999, Bluebird Fiber, headquartered in Missouri, has provided internet and transport services, via its fiber infrastructure, to Carriers and Enterprises in Missouri, Illinois, Kansas, Iowa, and the surrounding states. Bluebird owns two data centers: an underground facility in Springfield, MO, and a facility in the Quad Cities. Bluebird operates more than 11,000 fiber route miles of high-speed broadband and fiber-optic connections with over 82,000 on-net and near-net buildings and 163 Points of Presence (PoP) sites spanning the Midwest, including the major cities of Chicago, St. Louis, Kansas City, Springfield (MO and IL), Tulsa, Peoria, Bloomington, Normal and the Quad Cities. To learn more, please visit our website and follow us on LinkedIn, Facebook and X (formerly, Twitter).
Yahoo
28-05-2025
- Business
- Yahoo
Everstream Reaches Agreement for Sale of Business to Bluebird Fiber
Provides Strengthened Financial Position to Advance Strategy of Core Market Optimization Customers to Continue Receiving Same Speed, Reliability, and Expert Support Commences Chapter 11 Proceedings to Complete Value-Maximizing Transaction Secures $55 Million in New Money DIP Financing to Support Ongoing Ordinary Course Operations CLEVELAND, May 28, 2025--(BUSINESS WIRE)--Everstream (the "Company"), a business-only fiber network, today announced that it has reached an agreement to sell substantially all of its operations to an affiliate of Bluebird Fiber ("Bluebird"), a regional provider of fiber-based connectivity solutions for businesses. The transaction will enable the Company to advance its core market optimization strategy from a strengthened financial position. This step follows Everstream's sale of its Illinois and St. Louis metropolitan area networks and its previously announced plan to wind down its Pennsylvania operations. "Over the last decade, Everstream has established itself as a leading provider of fiber connectivity across the Midwest and Mid-Atlantic, distinguished by our speed, reliability, and expert support," Everstream CEO Ken Fitzpatrick said. "As we focus on advancing our core market optimization strategy, we have determined that a sale of our business is the best path to ensure Everstream meets the evolving connectivity needs of the businesses we serve for years to come. Under new ownership, we can continue to invest responsibly across our core markets for the benefit of our valued customers, employees, and other stakeholders." "We share Everstream's passion for providing mission-critical, high-quality business fiber services and putting our customers at the center of everything we do," Bluebird CEO Jason W. Adkins said. "We are excited about the opportunity to benefit from Everstream's best-in-class network, complementary footprint, and talented team members." To complete this value-maximizing transaction in an efficient manner, Everstream and certain of its affiliates commenced voluntary chapter 11 proceedings in the United States Bankruptcy Court for the Southern District of Texas (the "Court"). During these proceedings, Everstream will operate as usual, serving its valued enterprise, wireless, and wholesale customers without interruption. The Company has secured a commitment for $55 million of new money debtor-in-possession (DIP) financing from certain of its existing lenders, which, subject to Court approval and when combined with cash on hand, will fund the business through completion of the sale. The "stalking horse" agreement with Bluebird was reached following an extensive marketing process and provides for the purchase of substantially all assets as well as the assumption of certain liabilities. The Company is seeking approval of this agreement pursuant to section 363 of the Bankruptcy Code, thereby making it subject to higher or otherwise better offers from other interested parties. If Bluebird is ultimately the successful bidder, it intends to retain the vast majority of the Company's employees across Everstream's markets at close. Completion of the sale to Bluebird, if the successful bidder, is targeted by year end, subject to satisfaction of all closing conditions, including regulatory approvals. The Company is also filing with the Court a series of customary motions to maintain business-as-usual operations and uphold commitments to its stakeholders during the process. These "first day" motions include requests to continue to pay wages and provide benefits to employees in the ordinary course as well as maintain existing customer programs. Suppliers and contractors will be paid in the ordinary course for authorized goods received and services rendered after the filing. Additional information about the chapter 11 cases and proposed sale can be found at Suppliers and contractors with questions can call (855) 761-1230 (toll-free) or +1 (725) 240-7006 (international) or email EverstreamInquiries@ Weil, Gotshal & Manges LLP is serving as legal advisor, Alvarez & Marsal North America, LLC is serving as restructuring advisor, Bank Street Group is serving as M&A advisor, PJT Partners LP is serving as investment banker, and Kekst CNC is serving as strategic communications advisor to the Company. Kirkland & Ellis LLP is serving as legal advisor, Leo Berwick is serving as financial due diligence and tax advisor, and TD Securities is serving as sole financial advisor to Bluebird Fiber. About Everstream® Everstream has raised the bar for business connectivity, delivering a business-only fiber network with the speed, reliability, scale and performance that today's enterprises demand. With approximately 24,000 route miles of fiber and speeds up to 100 Gbps, Everstream's enterprise-grade network delivers robust business fiber services, including dedicated internet access, dark fiber, Ethernet and data center solutions. Through its "Do What You Say You Will Do" approach, Everstream is a valued partner dedicated to the success of business customers. For more information, visit About Bluebird Fiber Bluebird Fiber is a communications infrastructure provider and data center operator. Since 1999, Bluebird Fiber, headquartered in Missouri, has provided internet and transport services, via its fiber infrastructure, to Carriers and Enterprises in Missouri, Illinois, Kansas, Iowa, and the surrounding states. Bluebird owns two data centers: an underground facility in Springfield, MO, and a facility in the Quad Cities. Bluebird operates more than 11,000 fiber route miles of high-speed broadband and fiber-optic connections with over 82,000 on-net and near-net buildings and 163 Points of Presence (PoP) sites spanning the Midwest, including the major cities of Chicago, St. Louis, Kansas City, Springfield (MO and IL), Tulsa, Peoria, Bloomington, Normal and the Quad Cities. To learn more, please visit our website and follow us on LinkedIn, Facebook and X (formerly, Twitter). View source version on Contacts Media Contacts:For EverstreamKekst CNCJeremy Fielding / Sherri L. Toub / Daniel HoadleyEverstreamMedia@ For Bluebird FiberJill Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-04-2025
- Business
- Yahoo
Everstream Analytics Named a Leader in the Gartner® Magic Quadrant™ for Supplier Risk Management Solutions
Everstream recognized as a Leader for its vision and execution SAN MARCOS, Calif., April 24, 2025--(BUSINESS WIRE)--Everstream Analytics, the global leader in supply chain insights and risk analytics, today announced it was named a Leader in the 2025 Gartner® Magic Quadrant™ for Supplier Risk Management Solutions. The evaluation was based on specific criteria that analyzed the company's overall Completeness of Vision and Ability to Execute. From geopolitical instability and climate-related disruptions to cyber threats, financial pressures, and regulatory challenges, today's supply chains face unprecedented volatility and complexity. Everstream Analytics empowers global enterprises with real-time, predictive risk intelligence, enabling proactive action before disruption occurs. Leveraging advanced generative AI, natural language processing (NLP), and predictive modeling, Everstream delivers end-to-end visibility into supplier and logistics risk across multi-tier global networks. Everstream's latest innovation, Climate Risk Scores, is the first in the industry to quantify and forecast the long-term impacts of climate indicators on supply chain operations, giving businesses the foresight to mitigate environmental threats before they disrupt continuity. By combining leading supplier intelligence with unmatched logistics visibility, Everstream illuminates material flows and upstream vulnerabilities that are often overlooked by traditional tools. Seamless integration with enterprise systems like SAP and Oracle ensure the predictive insights are embedded directly into mission critical operational workflows, driving faster and smarter decisions where they matter most. "We are honored to be recognized as a Leader in the 2025 Gartner® Magic Quadrant™ for Supplier Risk Management Solutions," said Corey Rhodes, CEO at Everstream Analytics. "We believe our clients choose Everstream because of our industry-trusted technology, enterprise-grade integration, and a relentless focus on innovation to revolutionize risk management. Our platform empowers customers to proactively monitor, identify, and assess supply chain risks across multiple tiers. In today's increasingly volatile supply chain environment, businesses rely on Everstream's expertise to navigate threats, ensure continuity, and build lasting resilience. To us, this recognition reflects our team's unwavering commitment to innovation, adaptability, and customer success." Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables you to get the most from market analysis in alignment with your unique business and technology needs. Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights Magic Quadrant for Supplier Risk Management Solutions, Cian Curtin, Martin Shreffler, Cheryl Van Dyke, Micky Keck, 21 April 2025 About Everstream AnalyticsEverstream Analytics transforms risk intelligence with AI-driven insights that enable businesses to build agile, risk-optimized supply chains. By fusing real-time data from proprietary and public sources with advanced AI, we empower organizations to see further, act faster, and think bigger. Our platform delivers early risk detection and actionable intelligence that integrates seamlessly with planning, procurement, and logistics systems. This enables companies to anticipate disruptions, optimize operations, and make smarter decisions that transform supply chain vulnerabilities into strategic advantages. To learn more, visit View source version on Contacts Maria RossMarketbridge for Everstream AnalyticsEverstream@ Sign in to access your portfolio
