Miles Rubin - Coda

Harbinger Capital Investments LLC - Philip Falcone - Harbinger Capital Partner Funds - Lightsquared - Philip Falcone

2011-07-16T21:41:00.001-07:00

Philip Falcone - Harbinger Capital Senior Managing Director, Harbinger Capital Investments LLC

Philip Falcone is the Senior Managing Director of the Harbinger Capital Partner Funds.

Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital has more than 20 years experience in leveraged finance and leveraged companies.

Prior to joining the Harbinger Capital Partners investment team, Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital served as head of High Yield trading for Barclay's Capital.

From 1998 to 2000, Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital managed all aspects of Barclay's trading operations, including trading distressed and special situations, managing risk exposure of the desk, and overseeing the desk trading and analytical team.

Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital held a similar position with Gleacher Natwest, Inc. from 1997 to 1998.

Prior to joining Gleacher, Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital was a Senior High Yield trader at First Union Capital Markets in Charlotte, North Carolina.

Before joining First Union in 1995, Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital structured the leveraged buyout of AAB Manufacturing Corporation, a Newark, NJ based consumer products manufacturing company.

Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital completed this transaction in 1990 and remained President and Chief Operating Officer of the company until 1995.

Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital began his career in 1985, trading high yield and distressed securities at Kidder, Peabody Co.

Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital earned a Bachelor of Arts degree in Economics from Harvard University in 1984.

Source of Above Harbinger Capital Investments LLC, Harbinger Capital, Philip Falcone information

topics.wsj.com/person/F/philip-a-falcone

Philip Falcone, Harbinger Capital Partner Funds, Lightsquared, Harbinger Capital

Coda Automotive Inc. Reaffirms Schedule. Harbinger Capital Partners Philip Falcone Backed.

2011-03-03T08:15:00.000-08:00

"Coda Reaffirms Goal of Selling Electric Cars From Second Half

Coda Automotive Inc., the electric carmaker backed by Billionaire Philip Falcone, reaffirmed its on schedule to starting sales of its electric car in the second half of this year in California."

http://www.bloomberg.com/news/2011-03-03/top-oil-market-news-crude-rises-libyan-tankers-off-u-s-coast.html

Coda Holdings - Electric Car Company, Raises More Funds.

2011-01-30T11:46:00.000-08:00

"Electric car maker Coda raises $76M

The company is known for its all electric Coda Sedan and its lithium-ion batteries

Coda Holdings, maker of the much-anticipated all electric Coda Sedan, announced Thursday morning that it has raised $76 million in a Series D round led by new investors Harbinger Capital Partners and Riverstone Holdings, each of which will have a seat on Coda’s board.

Previous investors also contributed to the round, including Coda’s founder and co-chairman Miles Rubin, CODA's Interim CEO and Co-Chairman Steven “Mac” Heller, AERIS Capital, and Angeleno Group.

The round brings Coda’s total funds raised to more than $200 million.

The funds will be put towards the production and marketing of the company’s battery-operated, all electric Coda Sedan, as well as the battery production facility that Coda runs with Lishen Power Battery, LIO Energy Systems to create lithium-ion battery cells.

It’s those lithium-ion batteries that set the Coda Sedan apart from other electric vehicles coming out this year, including the Nissan Leaf, the Chevy Volt, and the Ford Focus EV. The Coda’s battery pack has more energy capacity and range than other electric vehicles, the company claims.

The car also comes equipped with a Bluetooth system with an embedded microphone (presumably so you can make calls), MP3/USB connectivity, a navigation system with turn-by-turn directions, roadside assistance with an emergency button, and satellite capability for XM radio.

The company claims that the Coda’s range is between 90 and 120 miles, which does, indeed, exceed that of the Nissan Leaf (found to average around 70 miles). This could explain why the Coda comes with such a hefty $45,000 price-tag--$12,000 more than the Nissan Leaf.

But I suppose when you’re a parent with kids in the backseat and you need to make it to school and back while staring at a battery life meter, can you really put a price-tag on peace of mind?

Coda recently sealed a deal with Enterprise Rent-a-Car to bring up to 100 all-electric Coda Sedans to Enterprise’s rental locations throughout 2011, and the company plans to sell 14,000 vehicles by the end of 2011, with nearly half of those vehicles coming from fleet sales.

The batteries are made through Coda’s and Lishen’s joint-venture battery production facility. Coda is considering several sites in Ohio to construct another battery production facility that would also be a joint venture with Lishen. "

Full Article and Source

http://vator.tv/news/2011-01-06-electric-car-maker-coda-raises-76m

Philip Murtaugh - Former GM Exec Takes Over Coda Holdings, Electric Car Company

2011-01-30T11:41:00.000-08:00

" Coda Holdings , one of the electric vehicle manufacturers who dreams to become one of the biggest players on the market, announced over the weekend the appointment of Philip Murtaugh to the position of CEO.

Murtaugh comes to Coda with what the company calls “extensive operating, manufacturing, sales and marketing experience in both the US and Asia” (the two markets on which Coda hopes to strike gold). Murtaugh spent almost his entire career, over 30 years, working for GM.

He climbed the ranks of the American manufacturers to reach he top spot in the car maker's management scheme, after being appointed CEO for GM China (from 2000 to 2005).

Murtaugh will be replacing Miles Rubin, the company's founder, who will remain with Coda as director and at the same time the largest shareholder.

"I look forward to joining an experienced group of professionals on CODA's management team and Board in California and abroad. It is impressive to see all that they have accomplished in such a short period of time, from the formation of international partnerships to green technology breakthroughs that are truly world class," said Murtaugh.

"Together, I am confident that we will accelerate the adoption of clean technology that will better the environment, create new jobs and move the automotive industry in a positive direction."

Coda currently plans to launch the Electric Sedan Model later this year, bringing to the market an EV powered by a 33.8 kWh lithium-ion battery pack, which gives the car a range of 120 miles (193 km). Coda has priced its electric vehicle at $37,400, including federal tax credits. "

Source of Post

http://www.autoevolution.com/news/former-gm-exec-takes-over-coda-30089.html

Hedgefunder Philip Falcone Invests

Miles Automotive - Miles Rubin

2011-01-30T11:32:00.000-08:00

"Entrepreneur Hopes To Charge Electric-Car Market - Sept. 2007

Miles Rubin is nearly 80, but he delayed retirement to take the biggest challenge of his professional life: building low-polluting, electric vehicles.

Rubin is already selling a low-speed all-electric car, and he plans to start selling a highway speed sedan by early 2009. Rubin said the cars — which are built in China— are his way of trying to fight climate change.

"I think everybody has to do something. We can't just depend on governments. Yes it will take government action to make a change, but we can't sit back and wait for Congress," Rubin said.

The Elusive Dream

The electric car has been an elusive dream of environmentalists and automakers for decades. But with growing concerns about global warming, the idea is attracting a new generation of entrepreneurs who, like Rubin, are hoping better batteries will make electric cars practical this time around.

Rubin is a mega-millionaire who made his money trading Chinese silks and medical devices. In the '90s, he ran Ralph Lauren's Polo Jeans. Now he's putting money into his new company, Miles Automotive.

"Electric motors have great initial torque so as you start the car you're moving right from the outset almost at full torque," Rubin said.

A four-door hatchback Rubin called the ZX40 is peppy on flat ground, but it barely crawls up a steep hill.

It won't replace the family minivan, but Rubin hopes it will help him finally jump start the electric car market. It costs about $15,000.

Rubin has sold about 300 of them during the last few months. It's best suited for college campuses, military bases and corporate parks with low speed limits. NASA, the Navy and several universities have purchased the cars.

The car can charge by plugging it into any wall socket.

Electric cars help fight global warming because they contribute less greenhouse gases to the atmosphere than gasoline-powered cars, even if the electricity is made in a coal-fired power plant.

Rubin's plan to build these cars took root four years ago when he visited a Chinese factory that makes lithium ion batteries, which are used in laptops and cell phones. Soon he was urging the Chinese company to scale up the batteries for cars.

Affordable Environmentalism

Rubin's passion for the environment dates back to the 1970s, when he worked with actor Paul Newman to get Congress to promote new sources of energy. But when the oil crisis lifted, interest waned. Rubin hopes this time around, the threat of global warming will keep people focused.

Rubin said he has spent $35 million of his own money, and he expects he will need to double that figure to get his new highway speed car to market. Rubin expects his speed car will go 80 miles per hour, with a range of 120 miles, and will cost $30,000.

Of course, Rubin's not the only one trying to build electric cars, but most of the other vehicles in the works would be very expensive. One of them, the Tesla roadster, is due out later this year with a price tag of $100,000.

Rubin admits he's faced some skepticism, even from his wife.

"She said, 'Miles what do you know that the auto industry doesn't know?' And I said, 'Nancy, very little.' Now that I think of it almost nothing," Rubin said.

Industry analysts say that's a huge liability.

"This is an enormously difficult industry to break into for an outsider," said David Cole, who heads the Center for Automotive Research at the University of Michigan. "A great many people have tried, have had very optimistic ideas about bringing a product to market, and it just hasn't worked out."

Cole predicts it will take several years before the lithium ion batteries are ready. Toyota recently backed away from one version. A big challenge is preventing the batteries from overheating.

Electric Cars Gain Traction

Nevertheless, Miles Automotive has already signed dozens of dealers around the country.

"We do believe in the Miles product. And we believe that this will give us the best opportunity to get our message out there with partnering up with some body that we feel is steps ahead of everybody else," said Scott Sandler, who owns E-Car Auto dealership in Chicago.

Sandler has sold 30 of the low-speed cars already. He said Rubin personally won him over.

"He was the reason I was sold on his versus other people's [cars]. And we could have gone to many other distributors of electric vehicles. But I just felt that that Miles cared about what happens to the world, the economy and global warming," Sandler said.

And at 78, Rubin said he's already made a lot of money. Now he's hoping to make a difference.

"Things will happen very quickly," Rubin said. "And I hope we're on the leading edge of it, not just to be first, because I'd like to say in this point of my career that I was able to make a change that mattered."

Source

http://www.npr.org/templates/story/story.php?storyId=14473012

Miles Rubin

2011-01-30T11:11:00.000-08:00

Miles Rubin