Tesla shares jump on Model 3 numbers, Musk deal

Investor's Corner					Tesla community comes together for final end-of-quarter Model 3 delivery push

Investor's Corner Tesla community comes together for final end-of-quarter Model 3 delivery push

According to the settlement, Tesla and Musk will pay $20m each to financial regulators and Musk will step down as chairman but remain as chief executive.

The message from the Tesla boss could bring some cheer to the workers as the last few weeks had been quite tumultuous for Musk who had on Saturday agreed to step down as chairman of the company for three years and pay a $20 million fine in a deal with the USA stock market regulatory authority, Securities and Exchange Commission (SEC), to resolve securities fraud charges.

Tesla Inc. shares rebounded from last week's USA lawsuit over Elon Musk's take-private tweets, as a settlement ensured the billionaire will keep calling the shots at the carmaker he's said is on the verge of profitability.

The SEC, in a complaint to the court, claimed that Elon Musk had failed to abide by the anti-fraud provisions of the federal securities laws. On Saturday, the SEC released an update announcing that Musk had accepted a settlement for his lawsuit. Tesla did not immediately respond to a request for comment and Musk could not immediately be reached for comment. Tesla itself has also been slapped with a $20 million fine by the SEC, making Musk's tweet one of the most expensive in history. Hitting production and delivery targets has become increasingly important for Tesla's relationship with Wall Street investors after the auto maker struggled to increase production to meet demand of its new Model 3 electric vehicle.

On August 7, 2018, he posted a now-infamous tweet, saying: "Am considering taking Tesla private at $420".

India approves ban on instant divorce
However, gender justice was given a complete go-by in a secular country like India because of blatant vote-bank politics. The accused is entitled to seek bail from a court, not a police officer, but the magistrate would have to hear the wife.

In emails leaked to CNBC, Musk hinted that Tesla was "very close" to being profitable and told staff to "ignore the distractions".

Yet a more forceful board, coupled with a domineering CEO like Musk, could create conflicts at a risky time for the company.

Tesla is also under heavy pressure to turn a profit because it is burning through $1 billion in cash every three months and, as of the end of June, had just $2.2 billion in the bank.

Nelson, who called the $20 million fine as "pocket change", noted that as part of the settlement, the company will have a "healthier level" of corporate governance as it separates the chairman and CEO roles, and requires the appointment of two new outside members to the board.

Recommended News

  • Rapper Cardi B surrenders to police

    Rapper Cardi B surrenders to police

    So there are two attractive women right now who have been accused of sleeping with whoever they slept with. Jade and Baddie Gi were said to have been injured in the alleged attack but did not seek medical attention.
    Kavanaugh Denies Fresh Harassment Allegations From College Classmate

    Kavanaugh Denies Fresh Harassment Allegations From College Classmate

    Activists also staged a massive walkout and protest in the Russell Senate Office Building. Kavanaugh has denied the new charge and called it "a smear, plain and simple".
    Spiked strawberries found in the Tweed

    Spiked strawberries found in the Tweed

    Police are urging anyone who locates strawberries containing the needles to contact Policelink for further advice on 131 444. Queensland chief health officer Dr Jeanette Young has advised consumers to take care when consuming the fruit.
  • Arsenal boss Unai Emery hints at first-team role for Reiss Nelson

    Arsenal boss Unai Emery hints at first-team role for Reiss Nelson

    Arsenal's Petr Cech in action during the match against Everton at the Emirates Stadium in London September 23, 2018. While Arsenal continue to build under Emery, Marco Silva's start to life at Goodison Park remains a slow one.

    Oculus Quest, Facebook's standalone VR headset, launches next spring for $399

    We've heard a bit about Oculus' Project Santa Cruz over the past couple of years. At the very least, it offers a simpler, faster way to jump into gaming.
    Senate panel receives new Kavanaugh allegations

    Senate panel receives new Kavanaugh allegations

    In his declaration, Koegler said he met the Fords while coaching their son's baseball team more than five years ago. The latest allegation comes from a woman named Julie Swetnick , who attended Gaithersburg High School in Maryland.
  • Named the date of beginning sales of the iPhone XS in Ukraine

    Named the date of beginning sales of the iPhone XS in Ukraine

    Its impossible for a man to put his iPhone in charging state and keep staring at it so that it gets charged properly... And others could only get the new iPhone to charge if the device is awake when they plugged in the cable.
    Bill Cosby being taken to suburban Philadelphia jail

    Bill Cosby being taken to suburban Philadelphia jail

    Tooson, who was not involved with Cosby's case, tells Fox News that the disgraced comedian's sentence is "sufficient". The classification means Cosby must undergo lifetime counseling and report quarterly to authorities.
    Miami Heat are aggressively pursuing a trade for Jimmy Butler

    Miami Heat are aggressively pursuing a trade for Jimmy Butler

    Butler is looking to cash in on a major contract extension that would give him around $190 million over five years. Minnesota owner Glen Taylor "prefers to find a deal by early this week", Wojnarowski added .
  • Avenatti says his client Julie Swetnick is 'telling the truth' about Kavanaugh

    Avenatti says his client Julie Swetnick is 'telling the truth' about Kavanaugh

    Asked about the FBI investigation on Saturday, President Trump told reporters he thought the probe was "going very well". It would be a risky precedent to deny Kavanaugh's appointment because of an unsubstantiated and unprovable allegation.
    Labour set to back public vote on Brexit

    Labour set to back public vote on Brexit

    But a People's Vote campaign spokesman said the conference motion was "clear movement" towards adopting a referendum. Firstly, Jeremy Corbyn's party will only support a so-called People's Vote if there is no Brexit deal.
    Death toll from Mangkhut hits 74 in the Philippines

    Death toll from Mangkhut hits 74 in the Philippines

    Mangkhut is the strongest storm 2018 has seen with winds of more than 175 miles per hour smashing through the Philippines. The tragedy has caused a nation to reexamine it's mining industry.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.