Tuesday, 20 November, 2018

Musk Says Apple Losing Luster; Ford May Fail in Next Recession

Tesla Roadster 1:64 Hot Wheels car Tesla Roadster 1:64 Hot Wheels car
Russell Knight | 03 November, 2018, 04:28

Musk, 47, also called the vehicle business "monumentally difficult" and repeated a point he's made in the past - that Tesla and Ford were the only US automakers to stay out of bankruptcy during the last recession.

Investors have been trying to ascertain if the worst is over for the Silicon Valley company amid the fallout from Musk's short-lived plan in August to take the company private, and determine if Tesla has finally stabilized its rocky Model 3 production and can build the auto at a profit.

Tesla Inc. says in the filing that to its knowledge, no government agency in an ongoing investigation has determined that it did anything wrong.

But now Tesla seems to finally be taking a step toward the vision the company first laid out in 2016.

The filing adds that Tesla is cooperating with a Justice Department request for information about Model 3 forecasts.

The disclosure in Tesla's quarterly financial report also says the Securities and Exchange Commission subpoena covered other public statements made about Model 3 production.

Saudi embassy road in London 'renamed Khashoggi Street'
The murder, initially covered up by Saudi officials, caused a diplomatic crisis between Saudi Arabia and its allies. Saudi Arabia has faced a torrent of global condemnation over the killing of the royal insider-turned-critic.

Why Ariana Grande Is ''Hurt'' by Pete Davidson's SNL Split Joke
Our second source points out that Grande has addressed the split publicly so it's only fair that Davidson does the same. In a teaser for this week's episode with host Jonah Hill , Davidson jokingly proposed to musical guest Maggie Rogers .

Barbra Streisand Takes the Wheel for Carpool Karaoke
But these days she can tell herself, "Let go, and let God". "I get scared, I just don't want to disappoint people". His expression was priceless. "Yeah, a moment", she laughed.

The company originally said in its third-quarter earnings call previous year that it would reach full production of 5,000 Model 3s per week in the first quarter of 2018.

Last week, investors were cheered by the company's third-quarter net profit, wider margins and positive cash flow, which sent shares climbing. It didn't hit the 5,000-a-week target until June 2018. Musk and Tesla agreed to pay a combined $40 million without acknowledging or denying wrongdoing.

Musk said in that same earnings call that the company was struggling with "bottlenecks" on the highly automated Model 3 assembly line.

"The probability of death in a motorcycle versus [a car] is 25 times higher", he said.

Tesla shares closed up less than half a percent to $346.41 on Friday.

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