Why elon musk named company tesla

Drew Harwell and Renae Merle, The Washington Post Published 2:40 pm PDT, Friday, October 5, 2018 Tesla's stock sank more than seven percent Friday after its chief executive Elon Musk taunted federal regulators days after reaching a settlement with them over accusations of fraud, alleging they had sued him last week to help his enemies. "Just want to [say] that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!" he tweeted Thursday, a jeering reference to the Securities and Exchange Commission, whom he'd settled with five days earlier. The SEC declined to comment. Tesla did not respond to requests for comment. Musk doubled down on the tweet shortly after. "Why would they be upset about their mission? It's what they do," he said of the SEC. The mocking tweets again raised doubts that the company could rein in its eccentric celebrity billionaire, who pushed the company further into chaos in August when he tweeted that he had … [Read more...] about Elon Musk taunts the SEC days after fraud settlement, sending Tesla stock tumbling

Elon Musk has repurchased X.com, a website he created 18 years ago in 1999, although his intentions for the purpose of the domain remain unclear.X.com was one of the world’s first online banks, insured by FDIC and partnered with Barclays. X.com was initially intended to be full service online financial institution, but could not overcome regulatory challenges. At that time, financial regulatory systems were not equipped to deal with the products that X.com was offering, which included online savings accounts, brokerage services and insurance products.In 2001, X.com merged with a payments start-up called Confinity and in 2001 the combined entity was renamed PayPal.Musk, founder of Tesla and SpaceX, announced on Twitter on 10 July 2017 that he had purchased X.com for “sentimental value”. In a following tweet on 14 July 2017 he announced his excitement at the “launch” of X.com with the … [Read more...] about Elon Musk Acquires X.COM

Aug 14, 10:48 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Supantha Mukherjee 08/14/18 AT 10:14 AM Tesla Inc’s board (TSLA.O) named a special committee of three directors on Tuesday which will evaluate Elon Musk’s proposals to take the company private, although it said it was yet to see a firm offer from the company’s chief executive.Musk said on Monday he was in talks with a Saudi sovereign fund for taking the electric car maker private. He later tweeted he was working with buyout firm Silver Lake and investment bank Goldman Sachs Group Inc (GS.N) as financial advisers on his plan.The special committee is composed of independent directors Brad Buss, Robyn Denholm and Linda Johnson Rice.Buss served as chief financial officer of solar panel installer SolarCity for two years before retiring in 2016. Tesla bought SolarCity that year. Denholm, the first woman to join Tesla’s board, is chief … [Read more...] about Tesla Forms Three-Member Panel To Look At Any Musk Deal

A former Tesla employee alleges that a worker at the electric car maker's Nevada battery factory had connections to a Mexican drug trafficking ring, and that he was fired for raising the issue with management.  Former security employee Karl Hansen cites the potential trafficking among a number of problems he said took place at Tesla's so-called Gigafactory, the company's massive production facility in Sparks, Nevada. He also claims Tesla retaliated against workers who reported shady activities, hacked into employees' cell phones and computers, and ignored the theft of $37 million worth of raw materials from the factory. Tesla did not immediately reply to an email seeking comment. Stuart Meissner, a lawyer for Hansen, said his client made the allegations on August 9 in a "whistleblower" complaint with the Securities and Exchange Commission. Hansen is the second ex-Tesla employee to submit a whistleblower tip to the agency. Former Tesla technician Martin Tripp, who is in a legal … [Read more...] about Ex-Tesla employee says “Gigafactory” worker linked to Mexican drug gang

Oct 05, 12:44 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Jonathan Stempel 10/04/18 AT 11:11 PM Tesla Inc's Elon Musk on Thursday mocked the U.S. Securities and Exchange Commission, just hours after a federal judge ordered him and the regulator to justify their securities fraud settlement, which let Musk remain chief executive."Just want to [sic] that the Shortseller Enrichment Commission is doing incredible work," Musk, a frequent critic of investors betting against the electric car company, wrote on Twitter. "And the name change is so on point!"The tweet came five days after Musk settled SEC charges that he misled investors in tweets on Aug. 7, including that there was "funding secured" to take his Palo Alto, California-based company private at $420 per share.Musk agreed to pay a $20 million fine, and step aside as Tesla's chairman for three years, to settle charges that could have forced his exit from Tesla. The … [Read more...] about Tesla’s Musk Mocks SEC As Judge Demands They Justify Fraud Settlement