Tesla today announced two new people to sit as independent members of its board: Larry Ellison and Kathleen Wilson-Thompson. Both are being brought on due to a settlement the company reached with the SEC after founder and CEO Elon Musk tweeted some unwise statements that resulted in investor bafflement (to say the least). Musk also agreed to step down as chairman of the board. Both of the new members are intended to present perspectives that are external to both Musk and the company. Wilson-Thompson runs Walgreens’ global human resources department and Ellison is the cofounder and executive chairman of Oracle. In a written statement, Tesla’s board said, “In Larry and Kathleen, we have added a preeminent entrepreneur and a human resources leader, both of whom have a passion for sustainable energy.” A human resources perspective like Wilson-Thompson’s is much needed. The company has been mired in allegations surrounding how it treats employees. They … [Read more...] about Tesla announces 2 new independent board members–One is Elon Musk’s “close friend”
Who is elon musk
Is Elon Musk’s erratic behaviour just the price we need to pay for brilliant entrepreneurs? Kathy Gromotka, associate at Downing Ventures, says YES. We back entrepreneurs because we buy into their desire and ability to behave in a way that creates value, whether they’re a star in the spotlight or operating in stealth mode. Elon Musk’s behaviour, erratic or not, is the price we pay for Elon Musk’s vision – for electric cars, for solar power, and eventually for space travel. If shareholders have bought into Musk’s vision for creating value, and into his maverick persona that generates constant publicity, then his behaviour along the way while executing this vision shouldn’t matter, so long as he is not deviating from the end goal and is creating more good than harm. Twitter storms and odd interviews aren’t a problem in and of themselves. Of course, if those tweets and comments are directly responsible for sinking the value of the company, … [Read more...] about DEBATE: Is Elon Musk’s erratic behaviour just the price we need to pay for brilliant entrepreneurs?
Tesla and Elon Musk have always made big promises. Now those promises could cause big problems. The reason is simple: When companies make promises, shareholders count on them. And when companies fail to deliver, it can cause legal trouble. The Securities and Exchange Commission is reportedly looking at Musk's tweet earlier this month that he had "funding secured" to take Tesla private. Musk's surprise announcement briefly sent the stock soaring. Musk later explained that he was talking about a meeting he had had with officials of the Saudi sovereign wealth fund. He said he left the meeting with "no question" that a deal could be closed. But he gave no indication — and still hasn't — that he had "secured" funding. Regulators are reportedly looking at other Tesla promises, too. The Wall Street Journal reported Friday that the SEC has subpoenaed a Tesla parts supplier in a probe into whether it misled investors last year about production of the Model 3, Tesla's … [Read more...] about How much trouble is Elon Musk in?
Aug 14, 10:54 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Pronita Naidu AND Ramsey Touchberry 08/14/18 AT 10:24 AM With not many specifics available yet on Elon Musk's Aug. 7 tweet about taking electric car maker Tesla private, analysts covering the company are debating if his $420-a-share proposal is a fair price for the stock, or if the transaction will even materialize.Six of the 13 analysts who International Business Times/Newsweek spoke to think Musk’s offer, which would value Tesla at $71 billion, is not a fair price for investors.On the other hand, six others aren’t sure if the taking-private deal would even materialize, citing the current fundamentals of the company. They have price targets well below $400 for the stock, with Cowen setting it as low as $200. Among the latter six, Efraim Levy, senior equity analyst at CFRA Research, did not provide a price target but thinks “there is … [Read more...] about Tesla Stock Price: Is Elon Musk’s $420-A-Share Proposal Fair?
Sections SEARCH Skip to content Skip to site index Business Day Subscribe Log In Subscribe Log In Advertisement Supported by ByMatt Stevens May 24, 2018 Elon Musk, the billionaire who has ambitions to colonize Mars and whose companies make electric vehicles and rockets, spent part of his Wednesday criticizing an already beleaguered and much-maligned group of humans on Earth. Yes, Mr. Musk, 46, the chief executive of SpaceX and Tesla, could not help unloading on the news media — members of which have written articles, especially in recent months, about the many problems that have plagued his companies. (Among them: delays in the production of Model 3s; a deadly crash that occurred when a Model X’s Autopilot system was engaged; and questions about Tesla’s ability to pay off its debt amid continued quarterly losses.) In a series of tweets that ranged from bizarre to pithy, Mr. Musk called the media … [Read more...] about Why Is Elon Musk Attacking the Media? We Explain. (Also, Give Us a Good Rating!)