From post 9:
Another question from a different shareholder. In light of Tuesday's election results, can you indicate whether a repeal of the Dynamic Glass Act would significantly reduce SPD's chances of architectural success or has the film cost decreased enough to minimize the possible impact?
JH: " Well, let me first say it's always better to have smart windows receive a 30% to 50% investment tax credit like they do now. And I also don't know whether the entire inflation reduction act may be repealed, whether it will be left in place or maybe just some of the pork barrel or other provisions will be repealed.
As a former Federal Reserve economist, I've always refused to call the legislation the inflation reduction act because many of the provisions have the opposite effect. And so I appreciate in the question the fact that you refer to it as the Dynamic Glass Act or as Gauzy referred to in the Benzinga interview that came out yesterday, sometimes we call this the Gauzy Act .And it's important to keep the Dynamic Glass Act separate and distinct from the overall Inflation Reduction Act.
And also our area of the Dynamic Glass Act is similar to the incentives for other established energy efficient home and office products like energy efficient windows, water heaters, etcetera. So hopefully that part will survive and they won't throw the baby out with the bathwater."
From US GLass Magazine, 10/15/24:
After Announcing Plans for Privatization, View Inc. Lays Off 147 Workers
 According to View Inc.’s WARN filing, employees at its facility in Olive Branch, Mississippi (pictured), are not represented by a collective bargaining agreement and do not have bumping rights. Photo: Google Earth.View Inc. has laid off 147 workers. The company filed an official Worker Adjustment and Retraining Notification (WARN) notice with the Tennessee Department of Labor and Workforce Development, notifying the agency of a permanent layoff effective Oct. 3, 2024. The facility is in Mississippi, but 69 affected workers reside in Tennessee...
In April 2024, former CEO Dr. Rao Mulpuri announced an agreement with a consortium of investors aiming to take View private, at the same time revealing plans to proceed with a process for prepackaged Chapter 11 bankruptcy. According to Bloomberg, the company is set to be taken over by senior investors in a debt swap...
It’s unclear whether the latest cutbacks are part of an ongoing resizing process or represent additional financial woes."
They're not private yet. But if and when that happens, and if the IRA goes on the chopping block, I hope Rep. Kelly and Sen. Wicker, the DGA's Congressional sponsors from Mississippi, will continue fighting for it. |
