Tue.Sep 03, 2019

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Faraday Future Finds New Chief Executive

L.A. Business Journal

The chief executive of Gardena-based electric vehicle developer Faraday and Future Inc. has vacated his post, according to a statement the company made September 3.

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Faraday Future Names New CEO

socalTECH

Los Angeles-based electric car maker Faraday Future said this morning that it has named a new CEO, and has named Dr. Carsten Breitfeld to head up the company, with founder and CEo YT Jia becoming Chief Product & User Officer (CPUO). Dr. Breitfeld spent 20 years at BMW, and previously led BMW's i8 vehicle program as Group Vice President, in addition to co-foundering and serving as Chairman and CEO of BYTON.

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Teledyne Buys MEMS Foundry Micralyne

socalTECH

Thousand Oaks-based Teledyne Technologies announced this morning that it has acquired Canadian MEMs foundry Micralyne. Financial terms of the acquisition were not annoucned. Micralyne was based in Edmonton, Alberta, and is a foundry that produces Micro Electro Mechanical Systems (MEMS) devices, including microfluidic technoogy for biotech applications.

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SpaceX Starlink Satellite Has Near Miss

socalTECH

One of the SpaceX high speed, Starlink communications satellites nearly ran over a European Space Agency (ESA) satellite on Monday, and only avoided disaster after the ESA performed a "collision avoidance maneuver" to steer out of the way of one of those Starlink satellites, the ESA said today. The ESA said this is the first time it has had to initiate those maneuvers.

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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

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Ares Management Backs 200MW Wind Project For Facebook

socalTECH

Los Angeles-based private equity investor Ares Management said this morning that its Infrastructure and power strategy and Apex Clean Energy funds are backing a 200MW renewable wind power project in Texas, which will go to power operations for Facebook. Financial details of the deal were not announced. According to Ares Aviator Wind East, an approximately 200 MW portion of the 525 MW Aviator Wind project located in Coke County, Texas, has signed a renewable power purchase agreement with Facebook

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J2 Global Names Cloud Services Head

socalTECH

Los Angeles-based J2 Global has named Nate Simmons as the President of one of its major business divisions, its Cloud Services division, reporting to CEO Vivek Shah, the company announced this morning. Simmons was previously SVP and COO of Symantec's consumer division, including both its Norton and Lifelock Brands. Simmons also served at Time Inc. and McKinsey & Company.

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