Monday, 10 December, 2018

A manager who can handle Elon Musk

Tesla constantly tweaks its Autopilot system in updates prompting complaints from some owners over unwanted changes SuppliedTesla constantly tweaks its Autopilot system in updates prompting complaints from some owners over unwanted changes
Jean Garcia | 13 October, 2018, 10:30

Tesla has until November 13 to appoint an independent chairman of the board, part of settlements reached last month between Tesla, Musk and USA regulators in the wake of Musk tweeting in August that he had secured funding to take the company private.

The SEC settlement capped months of debate and some investor calls for stronger oversight of Musk, whose recent erratic public behaviour raised concerns about his ability to steer the money-losing company through a rocky phase of growth.

The newspaper is wrong, Musk tweeted in response, without elaborating.

If Tesla CEO Elon Musk wants to return as chairman, shareholders will have to vote on it.

James Murdoch, who serves as a director on Tesla's board, is set to end his innings as 21st Century Fox's CEO.

Sports News, Machado, Dodgers finish off Braves
Kurt Suzuki, who was batting for Foltynewicz, contributed a two-out pinch single to drive in Johan Camargo and Tyler Flowers. The Braves held on to win, so there will be a Game 4 with the Dodgers having a two-games-to-one lead.

The FT report cited two anonymous sources, but added that other names remain under consideration.

Musk and Tesla agreed to pay $20 million each and make concessions to settle an SEC lawsuit alleging Musk duped investors with statements about a plan to take the company private. Tesla did not respond to a request for comment. Tesla also must appoint two additional independent directors under the SEC agreement.

Tesla made an SEC filing in 2013 that said Musk's tweets qualified as company disclosures. Also, as a caveat to the news about James, it should be pointed out that the FT's report today says external candidates are still being looked at.

He resigned from the board of Sky this week, following Comcast's successful bid for the European satellite broadcaster. According to the SEC's complaint related to his tweet about Tesla going private, Musk calculated a 20% premium on Tesla's share price at $419 but rounded it up to the $420 figure because he thought the marijuana reference would amuse his girlfriend.

Murdoch is set to be succeeded by his brother Lachlan Murdoch as Twenty First Century Fox chief executive officer, after the media group completes the sale of bulk of its assets to Walt Disney.

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