Members phkrause Posted February 1 Author Members Share Posted February 1 🔋 Musk wants to ditch Delaware Via X Tesla will hold a shareholder vote to transfer its state of incorporation to Texas from Delaware, CEO Elon Musk tweeted after a judge invalidated his $56 billion pay package. Kathaleen McCormick, chief judge of Delaware's Chancery Court, on Tuesday called the share-based pay package, the largest in corporate America, "an unfathomable sum," Reuters reports. "Never incorporate your company in the state of Delaware," Musk tweeted — and started a poll asking if Tesla should now incorporate in Texas. 87% of 1.1 million votes cast favored moving. Context: More than 65% of Fortune 500 companies and over half of all U.S. publicly traded companies are incorporated in Delaware, lured by the state's business-friendly legal framework and tax policies, according to Harvard Business Services, a firm offering Delaware business formation services. Musk shifted Tesla's corporate headquarters from Palo Alto, Calif., to Austin in 2021 after criticizing California's regulations and taxes. The night of the judge's ruling, Musk tweeted a Wall Street Journal op-ed from November, co-written by former Attorney General Bill Barr, with the headline: "Delaware Is Trying Hard to Drive Away Corporations." Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted February 28 Author Members Share Posted February 28 Elon Musk Flees To Billionaires’ New Court Elon Musk’s lawsuit-plagued SpaceX rocket company is departing Delaware for a new legal home base in Texas just as the Lone Star State rolls out a new, separate court system for businesses that will allow Republican Texas Governor — and longtime Musk ally — Greg Abbott to handpick judges. https://www.levernews.com/elon-musk-flees-to-billionaires-new-court/? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 14 Author Members Share Posted March 14 Musk abruptly cancels ‘The Don Lemon Show’ on X after he sits for the program’s first interview SAN FRANCISCO (AP) — Elon Musk abruptly canceled “The Don Lemon Show” on his social media network X after the former CNN anchor recorded an interview with the billionaire for its as-yet unaired first episode. https://apnews.com/article/elon-musk-don-lemon-cancellation-bdbed1da86c3640daa63e384c734f5db? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 14 Author Members Share Posted March 14 X removes Haiti video Elon Musk shared Elon Musk's X has removed a message shared by its owner that contained, per Bloomberg, an unverified video claiming to show evidence of cannibalism in Haiti. https://www.axios.com/2024/03/14/elon-musk-haiti-crisis-video-cannibalism? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted March 28 Author Members Share Posted March 28 Elon Musk Fought Government Surveillance — While Profiting Off Government Surveillance Ten years ago, the internet platform X, then known as Twitter, filed a lawsuit against the government it hoped would force transparency around abuse-prone surveillance of social media users. X’s court battle, though, clashes with an uncomfortable fact: The company is itself in the business of government surveillance of social media. https://theintercept.com/2024/03/25/elon-musk-x-dataminr-surveillance-privacy/? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 2 Author Members Share Posted April 2 🔋 Tesla's new troubles Data: Factset, Wedbush Securities, Deutsche Bank, Morgan Stanley. Chart: Tory Lysik/Axios Visuals Analysts predict a big Q1 decline in Tesla's deliveries when the electric automaker reports global numbers today, Axios Generate co-author Ben Geman writes. Why it matters: Tesla-watchers will parse how much the slowdown stems from market headwinds hitting everyone vs. problems more specific to Tesla, including an aging lineup and competitors in key markets like China. 🛣️ Between the lines: The ranks of would-be Tesla buyers in the U.S. are shrinking, Reuters reports from a survey by market intelligence firm Caliber. The firm's "consideration score" for Tesla fell to 31% in February — less than half its high of 70% in November 2021 when it started tracking consumer interest in the brand. Keep reading. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 3 Author Members Share Posted April 3 Tesla vehicle sales decline as EV interest cools Tesla's vehicle sales declined in the first quarter at a much faster pace than anticipated, as the automaker grapples with logistical challenges and softening interest in EVs. https://www.axios.com/2024/04/02/tesla-electric-vehicle-deliveries-q1-tsla-ev? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 20 Author Members Share Posted April 20 Tesla asks shareholders to restore $56B Elon Musk pay package that was voided by Delaware judge DETROIT (AP) — Tesla is asking shareholders to restore a $56 billion pay package for CEO Elon Musk that was rejected by a Delaware judge this year, and to shift the company’s corporate home to Texas. https://apnews.com/article/musk-pay-compensation-corporate-registration-ef5e30f6b56f7d936f8c882fc1c96875? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 21 Author Members Share Posted April 21 Elon Musk's Grok AI Pushes False News Stories About Indian Election, Iran Strike Elon Musk's Grok AI is promoting false news stories about world events, most recently claiming that Indian Prime Minister Narendra Modi lost to his opponent, even though the election hasn't happened yet. https://www.pcmag.com/news/elon-musks-grok-ai-pushes-false-news-story-about-indian-election-more? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 22 Author Members Share Posted April 22 Tesla cuts US prices for 3 of its electric vehicle models after a difficult week Tesla knocked $2,000 off the prices of three of its five models in the United States late Friday, another sign of the challenges facing the electric vehicle maker led by billionaire Elon Musk. https://apnews.com/article/tesla-lowers-prices-62999b502bddefc75aa1dbee47205d62? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 23 Author Members Share Posted April 23 🔋 Tesla's war footing Illustration: Sarah Grillo/Axios Elon Musk will address Tesla investors and analysts this evening, following a disastrous start to the year for the world's most valuable car company. Why it matters: The perfect storm includes slumping sales, plummeting stock price, thousands of job cuts, internal leaks and product recalls, Axios' Nathan Bomey and Zachary Basu report. 🧮 By the numbers: Tesla's stock is down 40% in 2024. The S&P 500 is up 5%. Tesla is asking shareholders to reinstate Musk's $56 billion compensation plan, which a Delaware court recently invalidated. 👀 Investors on today's call will want to know: Is demand continuing to fall? Is Musk committed to delivering a next-generation affordable car? Is his roadmap to self-driving cars realistic? Can the company sustain profitability after announcing more price cuts? 🥊 Reality check: Tesla has been in dire straits before, nearing bankruptcy multiple times during what Musk dubbed "production and logistics hell" from 2017 to 2019. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted April 25 Author Members Share Posted April 25 🔋 Tesla stops the bleeding Illustration: Gabriella Turrisi/Axios Tesla has reversed waning investor confidence — for now — despite a 55% drop in profits from a year ago and few specifics about its future product lineup. The bad quarter was expected after Tesla revealed a delivery slump weeks ago, Axios' Ben Geman writes. The company's stock, which has tumbled all year, jumped 13% in post-market trading after Tesla announced plans to accelerate new model launches — including a cheaper car. Tesla said an affordable model will be among the products arriving before the second half of 2025. But Musk didn't offer a specific price. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted May 5 Author Members Share Posted May 5 After Winning the Charging Wars, Elon Musk Rewards Team With Mass Layoffs With more rival EV makers set to turn on access to Tesla's network throughout the year, Musk axes the 500-person Supercharging team and renews his focus on autonomous driving. https://www.pcmag.com/opinions/after-winning-the-charging-wars-elon-musk-rewards-team-with-mass-layoffs? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted June 13 Author Members Share Posted June 13 🥊 Musk threatens Apple Screenshot: Via X Elon Musk threatened to ban his employees from using Apple products after the company announced that iPhone users would be able to ask ChatGPT questions through Siri, Axios' Scott Rosenberg writes. Why it matters: Musk makes a lot of promises and threats and often fails to follow through on them — but as one of the world's wealthiest people, he has the power to act on his whims when he wants to, Apple promises it will perform the handoff without letting itself or any other entity have access to the query. When an Apple query is handed to ChatGPT, information passes to OpenAI. But Apple will ask the user's permission each time. It also says OpenAI won't be able to store the information or train its systems on the data. 🖼️ The big picture: Musk has his own dog in the AI fight. He has raised $6 billion for his own AI company, xAI, to compete with OpenAI, Apple and every other AI provider. He has also long feuded with the iPhone maker. The latest bout kicked off last year when Apple "paused" ads on Musk-owned X after Musk endorsed an antisemitic post. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted June 14 Author Members Share Posted June 14 Future of Elon Musk and Tesla are on the line this week as shareholders vote on massive pay package DETROIT (AP) — If Tesla shareholders vote against restoring Elon Musk’s $44.9 billion pay package Thursday, the CEO could deliver on threats to take artificial intelligence research to one of his other companies. Or he could even could walk away. https://apnews.com/article/tesla-elon-musk-pay-package-shareholder-vote-7b20bf358dcc8fb467214819a3cb25d9? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted June 14 Author Members Share Posted June 14 🔋 Massive Musk vote Photo illustration: Aïda Amer/Axios. Photo: Taylor Hill/Getty Images. ⚡ Breaking overnight: Elon Musk says he's on track to win a momentous vote by Tesla shareholders on a massive pay package that threatened to upend his vast corporate universe. The official results will be announced this afternoon at a meeting in Tesla's Texas headquarters. Why it matters: Musk and Tesla board chair Robyn Denholm have suggested he could leave the EV giant — or simply focus on one of his other companies — if the vote on the $56 billion package fails. There are plenty of reasons to believe Musk was bluffing. And, even if he prevails this week, a Delaware judge could still reject the pay package, Axios' Dan Primack writes. 🔭 Between the lines: Musk is Tesla's largest shareholder — giving him roughly 75 billion reasons to root for the stock's continued health. Keep reading. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted June 14 Author Members Share Posted June 14 SpaceX sued SpaceX and CEO Elon Musk were sued on Wednesday by former employees who claim they were illegally fired for raising concerns about gender discrimination and sexual harassment at the rocket company. The lawsuit, brought by eight employees who were fired in 2022, alleges that Musk wants to be "the leader to a brave new world of space travel, but runs his company in the dark ages — treating women as sexual objects to be evaluated on their bra size, bombarding the workplace with lewd sexual banter, and offering the reprise to those who challenge the 'Animal House' environment that if they don't like it they can seek employment elsewhere," according to the complaint. CNN has reached out to SpaceX for comment. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted June 16 Author Members Share Posted June 16 Elon Musk gets 77% approval from shareholders to get back his big, $44.9 billion Tesla pay package DETROIT (AP) — Tesla shareholders voted Thursday to restore CEO Elon Musk’s record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the world’s largest electric vehicle maker. https://apnews.com/article/tesla-elon-musk-pay-package-shareholder-vote-8b6cce1a1aa460dbbaac69eb73e0e5e7? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted June 27 Author Members Share Posted June 27 For Tesla’s futuristic new Cybertruck, a fourth recall DETROIT (AP) — Tesla is recalling its futuristic new Cybertruck pickup for the fourth time in the U.S. to fix problems with trim pieces that can come loose and front windshield wipers that can fail. https://apnews.com/article/tesla-cybertruck-recall-fourth-time-f3709f24063695bc231763fb07d7d700? Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted July 3 Author Members Share Posted July 3 🔋 Tesla slipping Data: FactSet. Chart: Axios Visuals Tesla deliveries slipped again last quarter compared to a year ago, amid growing competition and uneven demand for EVs, Axios' Hope King reports. Why it matters: The company still holds the scepter as the world's top seller of EVs. But its grip is loosening. Keep reading. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
Members phkrause Posted July 17 Author Members Share Posted July 17 Elon Musk says he’s moving SpaceX, X headquarters from California to Texas SAN FRANCISCO (AP) — Billionaire Elon Musk says he’s moving the headquarters of SpaceX and social media company X to Texas from California. https://apnews.com/article/musk-moving-headquarters-x-spacex-texas-california-e5300a4b6e1c4168061886eb492a5431? Elon Musk says he's moving his companies out of California. The billionaire announced plans Tuesday to move SpaceX's HQ from Hawthorne, California, to Starbase, Texas, a company town being built in the southern part of the state. Musk also said his social media platform X will move from San Francisco to Austin, Texas. He explained that the SAFETY Act — a law California Gov. Gavin Newsom signed that would prohibit school districts from requiring teachers to inform parents if a child wants to be identified by a different gender — was "the final straw." Musk called the law an "attack on families and companies," adding to a list of controversial statements he has shared about gender identity. Quote phkrause Obstinacy is a barrier to all improvement. - ChL 60 Link to comment Share on other sites More sharing options...
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