Elon musk quits tesla

By Alexandria Sage SAN FRANCISCO (Reuters) – Tesla Inc <TSLA.O> will pause production at its California factory for six days at the end of the May to work on fixes to its assembly line for its new Model 3 sedan, sources inside the company told Reuters. The Silicon Valley luxury electric car maker previously warned of 10 days of temporary shutdowns this quarter as the company addresses manufacturing problems that have delayed volume production of the Model 3 sedan, which is seen as crucial to Tesla’s long-term profitability. Two sources confirmed to Reuters that the next stoppage on the general assembly line at the Fremont, California, plant was scheduled for May 26-31. A Tesla spokesperson declined to comment. Tesla has been struggling to find solutions to manufacturing bottlenecks on the new assembly line that produces the Model 3, a sedan intended for volume production. An over-reliance on robots has complicated that task, Chief Executive Officer Elon Musk has … [Read more...] about Tesla plans six-day stoppage at factory for assembly line fixes

Saying the road ahead was "very difficult," Tesla's CEO Elon Musk said Friday that the company would be cutting its staff by about 7 percent. The electric car and solar panel maker notified its employees about the staff cuts and other plans in an email posted on Tesla Inc.'s website. Musk said Tesla hopes to post a "tiny profit" in the current quarter but a 30 percent expansion in its workforce last year was more than it can support. Tesla's shares tumbled earlier this month after it cut vehicle prices by $2,000 and announced fourth-quarter sales figures that fell short of Wall Street estimates. "Our products are too expensive for most people," Musk said in the memo to Tesla staff, saying the company has to "work harder." "Tesla has only been producing cars for about a decade and we're up against massive, entrenched competitors," he said. Musk said in a tweet in October that Tesla, based on Palo Alto, California, had 45,000 employees. A 7 percent cut would involve laying off about … [Read more...] about Tesla Plans 7 Percent Staff Cut, Says ‘Road Ahead is Very Difficult’

By Sam Nussey TOKYO (Reuters) - Japanese fashion billionaire Yusaku Maezawa's first meeting with role model and SoftBank Group Corp <9984.T> boss Masayoshi Son came in 2010 when they bathed together - a popular communal activity in Japan - on the 26th floor of the tech giant's headquarters. The next year, the two men teamed up to launch a business in China. "If I was to work under somebody it would definitely by Son-san. He is the only executive I think that about," he said in a comment posted to a 2016 Newspicks article about the meeting. Although Son has been an inspiration for the 42-year-old billionaire, Maezawa has taken a different approach to publicity, saying on Monday he would be the first private passenger taken around the moon by Elon Musk's SpaceX. In a project which Maezawa has dubbed Dear Moon, he will bring up to eight artists to inspire works based on the experience. It will also shine starlight on his publicly listed company Zozo, officially known as Start Today … [Read more...] about Japan clothing magnate Maezawa chases spot in business firmament

Sections SEARCH Skip to content Skip to site index Politics Subscribe Log In Subscribe Log In Today’s Paper Advertisement Supported by Oct. 3, 2018 Good Wednesday morning. Here are some of the stories making news in Washington and politics today. • A Times investigation found that President Trump received at least $413 million in today’s dollars from his father’s real estate empire, and increased his inheritance through tax dodges in the 1990s. [Read the story, and 11 takeaways from the investigation] • The F.B.I. will send the results of its inquiry into allegations of sexual misconduct against Judge Brett M. Kavanaugh to the Senate as early as Wednesday, with a vote expected on his nomination this week. [Read the story] • All eyes are on the five undecided senators who will determine Judge Kavanaugh’s fate. How will each weigh how to vote? [Read the story] • Rules dating to Thomas … [Read more...] about On Politics: Trump Empire Was Built On Suspect Tax Schemes

Sections SEARCH Skip to content Skip to site index Politics Subscribe Log In Subscribe Log In Today’s Paper Advertisement Supported by ByHelene Cooper and Michael D. Shear Oct. 2, 2018 WASHINGTON — Federal authorities said on Tuesday that they had intercepted multiple packages suspected of containing ricin, a lethal substance, addressed to President Trump and at least two top Pentagon officials. In a statement on Tuesday night, the Secret Service said a “suspicious envelope” addressed to Mr. Trump was received at a facility outside the White House on Monday. “All threats directed towards the president, or any Secret Service protectee, are treated seriously and fully investigated,” the statement said. The Secret Service did not specify that the envelope contained ricin, but said agents were “working jointly with our law enforcement partners to fully investigate this matter.” … [Read more...] about Ricin Suspected in Mail Sent to Trump and Pentagon Officials