However, betting on government contracts is a dangerous business for any business, and when the milk stops flowing, you`ll have to find another cow. Taxpayers have missed an opportunity (at least for now) to save billions of dollars and tons of emissions. The USPS decision was one of the first signs of the long and fierce battle that President Biden`s green agenda will face. The song is indeed sad, and not just for Workhorse shareholders. Behind the scenes, Workhorse faced further challenges with the postal contract that drove up its shares. While tenders are an integral part of the public procurement process, we do not comment on such procedures,” the company said in a statement. Postal Service`s award of the next-generation delivery vehicle contract to Oshkosh. The electric vehicle startup lost the contract in February when the USPS selected a defense contractor “Oshkosh Defense is aware that Workhorse Group has filed a protest regarding the U.S. A number of contracts are expected to approach $6 billion. Oshkosh said he would continue his contract despite Workhorse`s complaint. The award of this fraudulent contract to OSHKOSH is just one of them! The seller also claims that in awarding its contract, the USPS agreed to pay Oshkosh $482 million to complete the development of its vehicle concept before starting production. In the lawsuit, Workhorse`s only description of its initial response to the loss of contract was: “Several aspects of the announcement were surprising.” DeJoy is a criminal and should be jailed for MANY offenses. They sold for months to a week before the disappointing announcement of the postal contract. Insiders sold more shares - nearly 215,000 later this month - even as Workhorse`s confidential trading went into trouble. 14, he dropped the lawsuit, expressing hope the move would improve his chances of future federal contracts. Since the postal contract was awarded to a competitor, Workhorse has sued the government, trying to reverse the postal decision or win part of the tender. Postal Service after the agency handed over Workhorse for a multibillion-dollar contract to manufacture the next generation of mail delivery vehicles. The company voluntarily withdrew a lawsuit it had filed against the U.S. It`s a sad song, but like the Beatles Jude, electric vehicle maker Workhorse Group is trying to do a little better. Shares were also pushed higher by growing investor enthusiasm around Lordstown Motors (Workhorse held a 10% stake in it), which went public later in the fall. The stock market transactions of its executives and board members raise a tricky question for Workhorse as it focuses on future government operations: Are the company`s internal controls strong enough to entrust it with taxpayer-funded contracts? Workhorse shares rose in September as the market focused more on the postal contract.

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