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Posts Tagged ‘Musk news’

Tesla’s Musk Says Pickup Truck Design is “Futuristic-like Cyberpunk”

He added if it doesn't sell, a more conventional-looking truck may come.

by Michael Strong on Nov.05, 2018

Tesla's Elon Musk said the product he's most excited about is the company's pickup truck.

Now that the Model 3 is launched, Tesla fans want to know what’s on the horizon and a truck has been an oft-mentioned possibility after the Model Y. With those thoughts come possibilities: full-sizes, midsize … compact? Nope.

Cyberpunk.

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“It’s gonna be like a really futuristic-like cyberpunk, ‘Blade Runner’ pickup truck,” Musk said during the Recode Decode podcast. “It’s gonna be awesome, it’s gonna be amazing. This will be heart-stopping. It stops my heart.” (more…)

Teslaquila Coming to a Party Near You? Trademark Filing by Musk Says Likely Yes

Flame throwers. Surf boards. Tequila? Maybe.

by Michael Strong on Oct.15, 2018

Is this Tesla CEO Elon Musk's latest short-term brainchild to make some cash or could it be a viable enterprise.

Tesla. SpaceX. The Boring Co. Teslaquila? In late spring, Tesla CEO Elon Musk poked fun at Tesla critics in a playful tweet suggesting he had seen the writing on the wall and drown his sorrows in several bottles of “Teslaquila.”

That soon could be reality. Not the passing out part, but the tequila named after the company could after he filed an “intend to use” trademark application Monday for a tequila called Teslaquila.

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Neither Musk nor Tesla officials have elaborated on the filing, but the application implies a “good faith intention” to use the trademark in the future. Now Musk has a history of creating “businesses” on a whim, such as Not a Flamethrower flamethrowers, Tesla surfboards and others. (more…)

Update: Musk Calls “Incorrect” Reports Murdoch Will Replace Him as Tesla CEO

Hunt continues with clock ticking under SEC settlement.

by Paul A. Eisenstein on Oct.11, 2018

Elon Musk appears to have ruled out reports suggesting James Murdoch will replace him as Tesla Chairman.

Fox CEO and Tesla board member James Murdoch is apparently out as a prospect to replace Elon Musk as the battery-carmaker’s chairman.

Musk, who must relinquish the post as part of a settlement with the SEC, issued a Wednesday afternoon tweet declaring “incorrect” a report in the Financial Times that cited two supposed inside sources naming Murdoch as the frontrunner in the search. The FT story came days after several other media outlets also pointed to Murdoch as the likely successor.

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The 45-year-old Murdoch is a friend of the Tesla founder and boss and has been on the company’s board since last year. He was seen as a particularly suitable replacement for Musk as he will soon relinquish his role as CEO of Twenty-First Century Fox, the media conglomerate founded by his father Rupert Murdoch, after it sells off most of its assets to Disney.

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New Reports: Tesla to Name James Murdoch Chairman to Replace Musk

Will he be able to rein in company founder’s itchy twitter finger?

by Paul A. Eisenstein on Oct.10, 2018

James Murdoch appears to be the top choice to take over the chairman's role from Tesla founder and CEO Elon Musk.

James Murdoch, the outgoing CEO of Twenty-First Century Fox and an outside director on the Tesla board of directors, appears to be the favored candidate to replace the carmaker’s founder and CEO Elon Musk, who must relinquish the chairman’s role as part of a settlement with the SEC.

Murdoch’s name has surfaced several times since Musk agreed to step down from the chairman side of his dual role to settle charges of fraud leveled against him by the Securities and Exchange Commission for claiming Tesla had “funding secured” for a bid to go private. Musk later confirmed there was no firm plan or funding and subsequently canceled the move to privatize Tesla.

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According to a report by the Financial Times, several sources close to the discussions inside Tesla said Murdoch was a primary choice for chairman. He has been serving as a non-executive director since 2017. But while the son of Australian mogul Rupert Murdoch has extensive media experience, his time with Tesla marks his only involvement in the auto industry. (more…)

Musk Under Fire Again, This Time From His Supporters

Tesla CEO slammed for attack on SEC; his latest twitter storm could cause problems with settlement.

by Paul A. Eisenstein on Oct.08, 2018

Tesla CEO Elon Musk cannot help himself, taking a shot at the SEC via Twitter.

Tesla CEO Elon Musk is taking heat again, this time from supporters, as well as his long list of critics, for his attack on the Securities and Exchange Commission.

After reaching a deal with the SEC early this month that forced him to step down as Tesla chairman, the 47-year-old executive fired off the latest in an ongoing series of tweets dubbing the federal agency the “Shortseller Enrichment Commission.” That was a reference to the investors who have been betting on Tesla stock to fall and who have become one of Musk’s biggest concerns.

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Musk came under the SEC microscope after tweeting in August about a supposed plan to take the battery-carmaker private. Federal regulators subsequently accused the Tesla founder of making “false and misleading” claims, finding no basis to support the proposal and, in particular, Musk’s initial tweet stating “Funding secured.” The SEC could have completely barred the exec from serving in any capacity on a public company and it could have levied substantially more fines than the $14 million penalty Musk had to pay. (more…)

Musk Settles: Pays SEC $20M, Resigns as Chairman

Tesla also paying $20M bringing total to $40M in penalties.

by Michael Strong on Sep.29, 2018

Tesla CEO Elon Musk settled with the SEC paying a $20 million fine and resigning as the chairman of the company.

After an initial round of defiance, Tesla CEO Elon Musk elected to take the path of least resistance with the Securities and Exchange Commission, agreeing to resign as chairman and pay a $20 million fine.

Tesla will pay an additional $20 million as part of the deal with the agency, bringing the total paid to $40 million.

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“The total package of remedies and relief announced today are specifically designed to address the misconduct at issue by strengthening Tesla’s corporate governance and oversight to protect investors,” Stephanie Avakian, co-director of the SEC’s Enforcement Division, said in a statement. (more…)

Update: Musk Denounces SEC Lawsuit

“Unjustified action…leaves me deeply saddened and disappointed.”

by Paul A. Eisenstein on Sep.28, 2018

Tesla CEO Elon Musk refuted the fraud charges brought against him in a lawsuit by the SEC.

Elon Musk and the Tesla board have fired back at the SEC, denouncing the federal lawsuit that could lead to the ouster of the automaker’s founder and CEO.

On Thursday, the Securities and Exchange Commission sued Musk, alleging he made “false and misleading statements” to investors when tweeting and posting about his plans to take the carmaker private last month. The suit could force Musk’s ouster, bar him permanently from holding a position of authority at a public company and result in millions of dollars in fines.

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While Tesla itself was not named in the suit, many observers expect that move could yet follow. Even if it didn’t, the company has been targeted by several investor lawsuits. (more…)

Musk Facing Justice Department Probe

Feds looking into possible “fraud” in aborted privatization effort.

by Paul A. Eisenstein on Sep.19, 2018

Tesla CEO Elon Musk is the focal point of investigations by the Department of Justice as well as the SEC.

Elon Musk now says he may try to hitch a ride along with the Japanese billionaire who plans to buy a ride on a SpaceX rocket trip around the moon.

Considering the mounting legal problems facing the 47-year-old executive, the CEO of both SpaceX and Tesla, Musk may need to find a way out of town in the near future.

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Musk and Tesla are now facing a criminal investigation by the U.S. Justice Department looking into his brief flirtation with taking the California carmaker private, even as the U.S. Securities and Exchange Commission is investigating that aborted move. Separately, Musk is facing lawsuits in both Los Angeles and London filed by a British diver who the South African-born executive has accused of being a “pedo,” or pedophile, as well as a “child rapist.” (more…)

Careful What You Ask For: Musk Sued by Diver He Disparaged

Tesla CEO wondered why he hadn't been sued yet.

by Paul A. Eisenstein on Sep.18, 2018

After pushing for lawsuit from diver Vern Unsworth, Tesla CEO Elon Musk got what he wanted – in London and Los Angeles.

Adding to the many headaches facing Elon Musk, the Tesla CEO has now been sued by a British diver that he has accused of being a pedophile.

In July, the 47-year-old executive got into a Twitter war with Vernon Unsworth earlier this year when Musk offered to send a mini-sub to help rescue members of a youth soccer team trapped in a flooded Thai cave. Unsworth derided it as a publicity stunt and suggested Musk shove the sub where the sun doesn’t shine.

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Musk responded by declaring Unsworth “pedo guy,” slang for a pedophile. “Sorry pedo guy, you really did ask for it,” Musk tweeted to his 22.5 million followers. He followd it up adding, “Bet ya a signed dollar it’s true.” Musk also declared that, “I fucking hope he sues me.” (more…)