Latest news with #IEN
Yahoo
6 days ago
- Automotive
- Yahoo
3,000 Vehicles Stranded: Pacific Ocean Ship Fire
A ship stocked with vehicles was reportedly abandoned in the Pacific Ocean after a fire broke out on board. According to Reuters, the cargo ship Morning Midas was on a 19-day voyage, en route from Asia to North America. The vessel was 300 miles from Adak, Alaska early Wednesday when smoke started billowing from one of the decks. Most Read on IEN: Raccoon Break-In Snarls Airbus Jet Production Workers Shocked as Medical Coverage Cut Amid Contract Fallout Ford Sues Lawyers; Shoemaker Outsmarts Tariffs; RIP Penny | Today in Manufacturing Ep. 222 Crime Ring Accused of Stealing $83M in Amazon Cargo After efforts to put out the fire were unsuccessful, the ship's crew of 22 evacuated. Reports say the crew was safely transferred via lifeboat to a nearby ship with the help of the U.S. Coast Guard. The operator of the vessel, Zodiac Maritime, said its focus now is on trying to salvage the ship, though uncontrolled ship fires can be difficult to manage. In this case, the ship's contents are particularly combustible; of the 3,000 vehicles aboard, approximately 800 of them are electric. Once EV batteries ignite, the fires can be notoriously challenging to fully extinguish. Back in 2022, a similar incident occurred when the Felicity Ace caught fire near Portugal. The ship was carrying millions of dollars in automobiles – including Bentleys, Porches and Lamborghinis. Attempts to save the ship failed and, after burning for two weeks, it capsized and sank. It is unclear as to the current condition of the vehicles onboard the Morning Midas. Owner Zodiac Maritime has confirmed that the fire is believed to have originated in the area of the ship carrying the EVs. Click here to subscribe to our daily newsletter featuring breaking manufacturing industry news.
Yahoo
7 days ago
- Business
- Yahoo
Raccoon Break-In Snarls Airbus Jet Production
When it comes to aerospace manufacturing, there are a few very common trends. For one, supply chain delays mean market leaders like Boeing and Airbus are slowly grinding their way through massive backlogs. Another, is that regulatory and quality issues make for a painstaking production process. But Airbus has pointed to yet another issue that's recently snarled productivity in one of its Canada plants and you may not have heard this one before. Most Read on IEN: Workers Shocked as Medical Coverage Cut Amid Contract Fallout Ford Sues Lawyers; Shoemaker Outsmarts Tariffs; RIP Penny | Today in Manufacturing Ep. 222 Crime Ring Accused of Stealing $83M in Amazon Cargo Security Breach: 'We've Made Our Own Prison' Reports say a recent break-in at an Airbus plant near Montreal left the manufacturer dealing with a tremendous headache. And it wasn't your typical bad actor, rather, a family of raccoons that were discovered when a worker saw one climbing up the landing gear of a jet that was being produced for a customer. The animal that was first spotted turned out to be the mother of five baby raccoons that were also in the plant. A worker boarded the plane to hunt down the critter and discovered a good deal of damage, including urine and chewed wires. Reuters says that workers from the 'overstretched assembly line' were pulled from their work to deal with the 'the time-consuming task of quarantining the jet and inspecting for damage.' They say that Airbus did confirm the raccoon presence but declined to elaborate as to whether there was further damage or delayed production because of it. The article notes that this scenario came at a rough time for Airbus, who has been dealing with a three year backlog on deliveries it blames on supply chain issues. The company is said to have been 'scrambling' to speed up production, with recent snags including things like delayed interiors – even missing engines. As for the plane in question – which was reportedly being built for a European airline – a source says the plant workers 'had to open everything back up to inspect' but that it's now 'pursuing its assembly.' As for the animals themselves, Airbus said they were removed to 'safe location.' Click here to subscribe to our daily newsletter featuring breaking manufacturing industry news.
Yahoo
28-05-2025
- Business
- Yahoo
Workers Shocked as Medical Coverage Cut Amidst Contract Fallout
A labor union filed an unfair labor practice charge against an insulated cable products manufacturer, alleging the company cut off the health care coverage for over 160 employees after the workers rejected a contract offer. Teamsters Local 986 stated that Okonite, headquartered in New Jersey, terminated the health benefits for workers at the company's plant in Santa Maria, California, on May 19, one day before a strike began. Most Read on IEN: Ford Worker Accused of Stealing Millions in Parts The Cybertruck's Staggering Depreciation Shoemaker Looks to Outsmart Tariffs Podcast: Cybertruck's Wild Depreciation; Faraday's 2 Cars; BioLab Won't Rebuild Teamsters spokesperson Christian Castro told IEN that the union believes Okonite's decision to end health benefits was retaliatory. He added that the company has not responded to the Teamsters' public statement or contacted the union regarding the issue. The alleged development took place after the workers voted down a contract offer that outlined wage increases across a five-year period. Castro said the proposal included a 7.25% raise in year one, followed by increases of 6%, 4.25% and two consecutive years of 4%. However, Castro argued that the offer failed to reflect California's cost of living. 'At first glance,' he said, 'the offer might appear reasonable, but it fails to close the gap our members face. Workers at the Santa Maria facility have already fallen 4.7% behind wage growth at other employers in the region since 2019.' Castro added that the new proposal would give the Santa Maria employees the same wage level as workers at Okonite's Richmond, Kentucky plant, where he claims the cost of living is 24% lower than in California. 'Our members are not asking for special treatment,' Castro said. 'They are asking to earn a wage that matches the cost of living where they live and work.' Founded in 1878, Okonite operates six plants in the U.S. Its Santa Maria facility features over 556,000 square feet of space and employs 186 workers. The company has not responded to IEN's request for comment. Click here to subscribe to our daily newsletter featuring breaking manufacturing industry news.
Yahoo
23-05-2025
- Business
- Yahoo
Crime Ring Accused of Stealing $83M in Amazon Cargo
The problem with being the biggest game in town is that you have a lot to lose. The U.S. Attorney's Office in Central California recently issued a press release detailing the activities of a crime syndicate that targeted one of the country's largest retailers – Amazon – in a scheme that involved a lot of stolen goods. Officers in Florida and California are said to have arrested 13 alleged members and associates of Armenian organized crime syndicates. Most Read on IEN: Another EV Maker Is on the Brink of Collapse Ford Worker Accused of Stealing Millions in Parts The Cybertruck's Staggering Depreciation Shoemaker Looks to Outsmart Tariffs The individuals are being charged in five different federal complaints but the one involving Amazon is said to comprise millions in stolen cargo. According to the California DA, the group is a 'Russian mafia-affiliated transnational criminal organization' that has been operating a crime ring out of Los Angeles. One such operation involved group members posing as truck drivers to enroll with Amazon as carriers. After receiving the goods, the group members allegedly diverted some or all of the shipments that were destined for Amazon warehouses. Reports say the DOJ seized the individuals' phones and found 'photos and videos of warehouses lined with boxes of crockpots, Keurig coffee machines, keratin shampoo, Weber grills and other goods.' Amazon reportedly provided an estimate of $83 million in stolen goods credited to the scheme. Reports say Amazon is, at present, 'plagued by recurring thefts of its shipments' and while it has ramped up its efforts to track down illegal behavior, cargo theft is still a particularly widespread activity. In fact, CNBC said that, industry-wide, 'cargo theft-related losses are estimated at close to $1 billion or more a year.' Click here to subscribe to our daily newsletter featuring breaking manufacturing industry news.
Yahoo
15-05-2025
- Automotive
- Yahoo
EV Maker Lost $44M in Q1 After Delivering Just Two Vehicles
It seems it's been a while where EV maker Faraday Future has been hanging by a thread. In the past year or so, the company has barely avoided bankruptcy and being evicted from its California headquarters. Following a cash infusion, the company has worked hard to stay afloat, even showing off two prototype mules and announcing plans to ultimately offer a sub-$30,000 electric van early this year. So how has it been going since? In March, the company announced that it had received its third funding commitment, bringing its total haul in the prior six months to $100 million. Most Read on IEN: Production Car Shatters Speed Record Another EV Maker Is on the Brink of Collapse Ford Worker Accused of Stealing Millions in Parts Podcast: VW's Too Big Seats; Flying Motorcycle; Rivian's Secret Stockpile In April, the company said it had signed a pre-order agreement with a company called JC Auto, who will pay a non-refundable deposit of $100,000 to be applied to up to 1,000 vehicles. But not all of the news has been as nice. Faraday Future also recently revealed its first quarter results, which Carscoops characterized as 'dismal.' That's because the company posted an operating loss of $44 million and only delivered… two vehicles. And despite the aforementioned JC Auto pre-order, it's not certain to get better. That's because the order is non-binding, and Faraday Future's report admits that the true number could be as little as two. Likewise, another pre-order the company had previously announced – from Sky Horse Auto for 300 MPVs – could be 'as few as one.' While looking at the glass half full, the company continues to pursue its goal of providing AI-enhanced vehicles, with a plan of producing up to three models — the Super One and the FX 5, both with price targets of $20,000-$30,000, and the FX 6 at a targeted $30,000-$50,000. No matter the price point, though, the company has set a low bar for deliveries so far in 2025. So maybe there's nowhere to go but up. Click here to subscribe to our daily newsletter featuring breaking manufacturing industry news. 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
