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Taiwan receives first batch of US-made Abrams tanks
LOS ANGELES (AP) — The Biden administration plans on reducing part of Intel’s $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations. The reduction is largely a byproduct of the $3 billion that Intel is also receiving to provide computer chips to the military. President Joe Biden announced the agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans in March. The changes to Intel’s funding are not related to the company’s financial record or milestones, the people familiar with the grant told The Associated Press. In August, the chipmaker announced that it would cut 15% of its workforce — about 15,000 jobs — in an attempt to turn its business around to compete with more successful rivals like Nvidia and AMD. Unlike some of its rivals, Intel manufactures chips in addition to designing them. Two years ago, President Biden hailed Intel as a job creator with its plans to open a new plant near Columbus, Ohio. The president praised the company for plans to “build a workforce of the future” for the $20 billion project, which he said would generate 7,000 construction jobs and 3,000 full-time jobs set to pay an average of $135,000 a year. RELATED COVERAGE Nvidia replaces Intel on the Dow index in AI-driven shift for semiconductor industry Intel scores fresh win against EU after top court backs annulment of billion-euro antitrust fine The California-based tech giant’s funding is tied to a sweeping 2022 law that President Biden has celebrated and which is designed to revive U.S. semiconductor manufacturing. Known as the CHIPS and Science Act , the $280 billion package is aimed at sharpening the U.S. edge in military technology and manufacturing while minimizing the kinds of supply disruptions that occurred in 2021, after the start of the coronavirus pandemic, when a shortage of chips stalled factory assembly lines and fueled inflation . The Biden administration helped shepherd the legislation following pandemic-era concerns that the loss of access to chips made in Asia could plunge the U.S. economy into recession. When pushing for the investment, lawmakers expressed concern about efforts by China to control Taiwan, which accounts for more than 90% of advanced computer chip production. In August, the administration pledged to provide up to $6.6 billion so that a Taiwanese semiconductor giant could expand the facilities it is already building in Arizona and better ensure that the most advanced microchips are produced domestically for the first time. The Commerce Department said the funding for Taiwan Semiconductor Manufacturing Co. meant the company could expand on its existing plans for two facilities in Phoenix and add a third, newly announced production hub. The administration has promised tens of billions of dollars to support construction of U.S. chip foundries and reduce reliance on Asian suppliers, which Washington sees as a security weakness. _____ Boak reported from Washington.NEWCASTLE, England (AP) — Newcastle’s winning run in the English Premier League came to an abrupt end when goals from Thomas Souček and Aaron Wan-Bissaka gave West Ham a surprise 2-0 win at St. James’ Park on Monday. The Hammers rose into 14th place and the pressure on coach Julen Lopetegui was eased. The London club has been inconsistent all season and Monday’s win was just its fourth in 12 league games. West Ham was worth the win in the end but the three points came courtesy of slack defending by the home side. Emerson whipped in an out-swinging corner after 10 minutes and, with Newcastle defenders rooted to the spot, Souček stole in to nod home the opener. Then eight minutes into the second half, captain Jarrod Bowen found Wan-Bissaka in the penalty box and he was left unchallenged and had time to fire an angled drive past Nick Pope. Newcastle brought on Harvey Barnes, and then Callum Wilson returned from a long-term back injury to make his first appearance of the season but to no avail. The defeat ended a three-game winning streak for Newcastle and left the Saudi Arabia-owned club in ninth place, four points outside the top four. ___ AP soccer:
FOXBOROUGH, Mass. (AP) — The NFL removed New England Patriots safety Jabrill Peppers from the commissioner exempt list on Monday, making him eligible to participate in practice and play in the team’s games. Peppers missed seven games since being placed on the list on Oct. 9 after he was arrested and charged with shoving his girlfriend’s head into a wall and choking her. The league said its review is ongoing and is not affected by the change in Peppers’ roster status.
PM Trudeau attends Taylor Swift concert with family in Toronto
NoneBanque Cantonale Vaudoise lifted its position in shares of AMC Networks Inc. ( NASDAQ:AMCX – Free Report ) by 248.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,409 shares of the company’s stock after acquiring an additional 16,688 shares during the period. Banque Cantonale Vaudoise owned approximately 0.05% of AMC Networks worth $203,000 as of its most recent filing with the Securities & Exchange Commission. Other hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC purchased a new position in AMC Networks in the 3rd quarter worth about $265,000. LMR Partners LLP bought a new position in AMC Networks during the third quarter valued at approximately $134,000. Quest Partners LLC lifted its position in AMC Networks by 2,096.0% during the third quarter. Quest Partners LLC now owns 51,365 shares of the company’s stock valued at $446,000 after purchasing an additional 49,026 shares during the period. Empowered Funds LLC boosted its holdings in AMC Networks by 5.3% in the third quarter. Empowered Funds LLC now owns 175,500 shares of the company’s stock worth $1,525,000 after purchasing an additional 8,844 shares during the last quarter. Finally, Royce & Associates LP grew its position in AMC Networks by 134.0% in the 3rd quarter. Royce & Associates LP now owns 145,788 shares of the company’s stock worth $1,267,000 after purchasing an additional 83,476 shares during the period. 78.51% of the stock is currently owned by hedge funds and other institutional investors. AMC Networks Stock Performance Shares of AMCX opened at $9.41 on Friday. The business has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $10.67. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03. AMC Networks Inc. has a 52 week low of $7.08 and a 52 week high of $20.97. The stock has a market cap of $415.17 million, a price-to-earnings ratio of 14.94 and a beta of 1.29. Analyst Upgrades and Downgrades A number of equities analysts have recently issued reports on the company. Morgan Stanley dropped their price target on AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their target price on AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. StockNews.com upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.50. Read Our Latest Research Report on AMC Networks About AMC Networks ( Free Report ) AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments. Featured Articles Receive News & Ratings for AMC Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks and related companies with MarketBeat.com's FREE daily email newsletter .
‘The smiling one’ Ruben Amorim says he can be ruthless when he needs to beLegal authorities generally suggest that the ruling was sound and followed the law.
BRASILIA (Reuters) - A committee in Brazil's lower chamber of Congress approved a bill on Wednesday that would ban abortion in Brazil in all cases including those currently allowed such as fetal deformation, rape or when the mother's health is in danger. The Constitutional and Legal Affairs Committee, where conservatives have a majority, voted 35-15 to approve a proposal for a constitutional amendment to establish that the inviolability of the right to life applies from the moment of conception and not at birth. The sponsor of the legislation, Chris Tonietto of the right-wing Liberal Party, said the amendment would "ensure that unborn children will enjoy the right to life." The proposed bill will now go to a special committee set up for the issue and discussions are expected to take place early next year. Progressive lawmakers criticized the amendment, calling it a "secular setback" and an attack on women's rights. They said the measure will paralyze research into stem cells and rule out procedures such as in vitro fertilization. "It's a provocation. It is shameless and perverse to say that this is a defense of anyone's life," said Samia Bomfim of the Socialism and Liberty Party. (Reporting by Maria Carolina Marcello; Writing by Anthony Boadle; Editing by Alistair Bell) Copyright 2024 Thomson Reuters .Trump team signs agreement to allow Justice to conduct background checks on nominees, staff
Article content A Saskatchewan legislature member says his transgender children were targeted in an election campaign promise about school change rooms and he wants an apology from Premier Scott Moe. Opposition NDP member Jared Clarke told the legislative assembly this week his daughters were subjects of a complaint for using a girls’ change room at a southeast Saskatchewan school. “The premier put a target on the backs of my two 12-year-old kids,” Clarke said in the house. He said a news article of the complaint was published Oct. 16 and later that day a photo of his family was shared on social media linking them to the article. The next day at a campaign stop in Regina, Moe was asked about the complaint and announced he would ban “biological boys” from using girls change rooms at schools if his Saskatchewan Party won the Oct. 28 election. Moe had touted the proposal as his first order of business, but it was not in his party’s campaign platform. “He held a press conference to stoke fear and outrage about two kids at an elementary school, while my children’s picture was circulating on social media, identifying them, while unimaginable hate was raging down on my family,” Clarke told the assembly. “The premier owes my children an apology. He owes all transgender people in this province, especially kids, an apology for how he has made them feel so unsafe over the last year.” Moe’s office said in an emailed statement the premier and former Education Minister Jeremy Cockrill at no point identified the children. “The premier and his campaign consistently stated that, ’the identity of individual minors should never be part of any political debate,” the email said. “We will work with school divisions to ensure that there is a policy in place that supports each and every student.” Moe told reporters a week after the Saskatchewan Party was re-elected the ban would no longer be a legislative priority. Clarke asked if it would be acceptable for the children of other legislature members to be used as political fodder. “What do you think would be going through a 12-year-old’s mind when they hear the premier of their province targeting them?” he told the assembly. He said it wasn’t easy when his children came out as transgender, and that he and his wife had to do a lot of learning, reading, talking and thinking. “As a parent of a transgender child, you are presented with a stark choice: to outright reject the feelings and words of your child when they tell you who they are or to choose to embrace your child and love them with all your heart,” he said. “My wife and I decided to love our kids with all our hearts. “Transgender kids are not scary. Transgender people are not scary. They are not people that we should be afraid of. They are people who deserve to be treated with respect and dignity and love.” He said his kids are kind and smart, and they play sports and music. They are also fond of Taylor Swift and airplanes. “They have the incredible strength to live as their authentic selves.” Clarke said it’s the second time the Saskatchewan Party government has gone after transgender kids. Last year, the province passed a law using the notwithstanding clause to require parental consent when children under 16 want to change their names or pronouns at school. “I don’t expect everyone to understand the journey that we have been on as a family, but I hope that my words today can be heard by those who have an open heart and a willingness to learn about the different lived experience than perhaps their own,” he said. “I hope something good can come from this terrible experience.” The Regina Leader-Post has created an Afternoon Headlines newsletter that can be delivered daily to your inbox so you are up to date with the most vital news of the day. Click here to subscribe. With some online platforms blocking access to the journalism upon which you depend, our website is your destination for up-to-the-minute news, so make sure to bookmark leaderpost.com and sign up for our newsletters so we can keep you informed. Click here to subscribe.
Why British newspapers are still in demand: New owners circle The Telegraph and Observer By ALEX BRUMMER Updated: 22:02, 25 November 2024 e-mail View comments The physical disappearance of newspapers on the daily commute in Britain is one of the more obvious signs of the diminishing power of printed media. Yet each day there are still at least nine titles to choose from on the news-stands. When titles threaten to vanish there is never any shortage of would-be media moguls ready to take up the cudgels. A long tussle over future ownership of the Telegraph and Sunday Telegraph titles has reached a critical stage. Exclusive talks with Dovid Efune, proprietor of the New York Sun, expire this week. Late help has come for the American-backed offer with two prominent British figures – former Chancellor and founder of You Gov Nadhim Zahawi and British-Egyptian billionaire Mohamed Mansour – reported by the FT to be in ‘advanced’ talks to join the US consortium. At the other end of the political spectrum, the Scott Trust, owner of the Guardian and Observer, is due to decide whether to press ahead with the sale of the Observer to slow news website Tortoise Media. Scoops: Britain's printed media continues to break the big stories of the day and set the news agenda The decision comes in the face of a vote for strike action against the deal by Guardian and Observer colleagues. The Observer is in reasonable health with a paper circulation of 100,000 copies and made profit of £3million in the last financial year. The days of ‘It’s The Sun Wot Won It’ – the totemic headline after John Major’s victory in the 1992 election – may be over. Yet newspapers remain agenda-setting and can have a volcanic influence of events. Mirror revelations of Downing Street ‘parties’ in the pandemic was a nail in the coffin of Boris Johnson’s government. A series of scoops and regular revelations by from Sunday Times, the Sun and the Daily Mail – joined by the broadcast media – about Keir Starmer’s freebies, and those of his colleagues, turned a triumphal entry to Downing Street into scrambled eggs. The tussle between press and government has deepened over Labour’s badly received tax-raising budget. The opportunity to make a difference to national events still makes newspaper ownership an alluring prospect. It may not yet be a trend. But a different generation of owners is emerging, several of them deeply immersed in the opportunities provided by tech. RELATED ARTICLES Previous 1 Next The loss of ITV's independence would be a blow to creative... Backlash grows over failure on business rates as Kingfisher... Share this article Share HOW THIS IS MONEY CAN HELP How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account Jeff Bezos, the founder of Amazon, who has unlimited resources, is busy seeking to revitalise the Washington Post in the US after previous owners, the Meyer-Graham family, capsized. The Ochs-Sulzberger dynasty, which has controlled the New York Times for generations, was spared ignominy by former BBC boss Mark Thompson. His digital-first approach turned around the group’s finances which have since been augmented by the ‘Grey Lady’s’ acquisitions of online sports bible The Athletic and addictive word game Wordle. Digital is the way forward in the UK. The Independent, spawned after Rupert Murdoch’s printing revolution at Wapping almost four decades ago, has been reinvigorated online and made a healthy £3.5million profit over the last 15 months. Its embrace of artificial intelligence (AI), to provide foreign language additions, has helped attract 5.7m registered users and reduced dependence on advertising revenues. The long running uncertainty over the Telegraph’s ownership could soon be at an end. Early contenders including private equity outfit RedBird, supported by Abu Dhabi funding, and DMGT (owner of the Mail titles) are no longer in contention. Hedge fund tycoon Paul Marshall swooped in to buy the Spectator out of the Telegraph group for £100million and rapidly installed the mercurial former Cabinet Minister Michael Gove as editor. For the moment, Marshall has faded away as a potential buyer for Telegraph titles. Almost out of the blue, New York-based digital publisher Efune, backed by heavyweight American commercial funding, has emerged as the most likely new owner with an offer at first thought to be worth up to £550million. Industry speculation suggests that figure is regarded as very unlikely to be achieved. The Manchester-born proprietor of the New York Sun has shown consummate skill in taking defunct titles and turning them around. He began by transforming one of the few Yiddish language papers Algemeiner, closely read in the Charedi Jewish community, into an online English language title reporting on Jewish issues and Israel. Pledge: Tortoise Media founder James Harding, a former editor of the Times and BBC News, is promising £25m of new investment in the Observer It was from this small beginning that he took control of the New York Sun, one of the Big Apple’s oldest newspaper brands first published in 1833, which was all but defunct when Efune landed in 2020-21. He put the broadsheet title, once part of the Pulitzer publishing empire, online, giving New Yorkers and everyone else a more conservative alternative to the famously liberal New York Times. Efune’s funding reportedly comes from investment firms Oaktree and Hudson Bay Capital and the family office of US philanthropist Michael Lefell. The former Telegraph proprietor Conrad Black, who was forced out amid charges of financial wrongdoing two decades ago, is a director of the New York Sun. The would-be buyer comes from a respected rabbinical family and is a nephew of the Kalms family which founded electronic retailer Dixons, now known as Currys. Efune’s newspaper background would suggest an intelligent, Right leaning, Israel supporting digital future. Efune is pledging coverage of ‘clear eyed consequential issues of the day’ and describes himself as a ‘lifelong newsman’. As with all transfers of newspaper ownership, any deal will have to cross the public interest hurdles of media supervisor Ofcom and Culture Secretary Lisa Nandy. The union hostility among Guardian and Observer staff over the proposed disposal of the world’s oldest Sunday newspaper to online start-up Tortoise is a profound obstacle. There is, however, a determination by Tortoise founder James Harding, a former editor of the Times and BBC News, to get the job done – and he is promising £25million of new investment in the title. Disentangling the Obs from the Guardian, where large slices of the paper including City and Sport are jointly produced, won’t be simple. Production arrangements also are shared. Harding has lined up an eclectic mix of financiers for the deal, including South African tycoon Gary Lubner, formerly of Autoglass, through his ‘This Day’ philanthropic foundation. His ambition also reportedly is being supported by American asset manager Standard Investment, managed by David Millstone and David Winter. It has stakes in digital media start-ups Puck, Air Mail and publisher Spiegel & Grau. Historic printed media titles may find themselves under financial pressure and in search of long-term online future. But there is no shortage of finance, much of it American (as with Premier League football clubs) ready to colonise the digital media future. In this universe, traditional titles such as the Telegraph and Observer have become the new honeypots for busy bees seeking to revolutionise media finances, lift performance and gain a voice on UK domestic and geo-political events. DIY INVESTING PLATFORMS AJ Bell AJ Bell Easy investing and ready-made portfolios Learn More Learn More Hargreaves Lansdown Hargreaves Lansdown Free fund dealing and investment ideas Learn More Learn More interactive investor interactive investor Flat-fee investing from £4.99 per month Learn More Learn More Saxo Saxo Get £200 back in trading fees Learn More Learn More Trading 212 Trading 212 Free dealing and no account fee Learn More Learn More Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. Compare the best investing account for you Share or comment on this article: Why British newspapers are still in demand: New owners circle The Telegraph and Observer e-mail Add comment Some links in this article may be affiliate links. If you click on them we may earn a small commission. 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A judge has once again rejected Musk’s multi-billion-dollar Tesla pay package. Now what?
It didn't take Syracuse first-year coach Fran Brown long to figure out the key matchup for Saturday afternoon's Atlantic Coast Conference game visiting Miami. "Syracuse has a really good quarterback," Brown said of Kyle McCord, "and Miami has a really good quarterback (Cam Ward)." With a win on Saturday, the No. 6 Hurricanes (10-1, 6-1 ACC) can clinch a berth in the league championship game against SMU. Miami is a 10 1/2-point favorite for Saturday's game. Syracuse (8-3, 4-3) has reached eight wins for just the fourth time since 2002, going 8-5 in 2010 and 2012 and 10-3 in 2018. However, the Orange haven't defeated a Top-10 team since knocking off Clemson in 2017. Miami leads the nation in scoring (44.7), and the Hurricanes will count on perfect passing conditions in Syracuse's dome. That could be huge for Ward, who leads the nation with 34 touchdown passes, ranking second in passing yards (3,774) and fourth in passing efficiency. Ward's top target is wide receiver Xavier Restrepo, who needs just 21 yards to reach 1,000 for the second straight season. Restrepo also ranks tied for seventh in the nation with 10 TD receptions. Ward has some other top targets, including 6-foot-4, 245-pound tight end Elijah Arroyo, who is a walking mismatch because of his size and speed. He leads Miami with 18.5 yards per reception. Hurricanes wide receivers Isaiah Horton and Jacolby George have combined for 12 TD passes, and Sam Brown has added two more. Each of them has more than 500 receiving yards this season. Miami's running game features battering ram Damien Martinez (739 yards, 5.5 average, eight TDs); versatile Mark Fletcher Jr. (499 yards, 5.7 average, six TDs); and game-breaking freshman Jordan Lyle (361 yards, 8.6 average, four TDs). Defensively, Miami's big-play man is safety Mishael Powell, who ranks second in the ACC with five interceptions. "He's all about winning," Miami coach Mario Cristobal said of Powell. "He's a smart, self-starting team player." On special teams, Miami kicker Andres Borregales ranks second in the ACC with 97 points. He is 52-for-52 on extra points and 15-for-16 on field goals. Meanwhile, McCord ranks No. 1 in the nation in passing yards (3,946) and tied for seventh in TD passes (26). McCord, a transfer from Ohio State, has also set Syracuse's single-season record for passing yards. In last week's 31-24 win over Connecticut, McCord passed for a career-high 470 yards. However, McCord is just 46th in the nation in passing efficiency, due in part to his high total of interceptions (12). Syracuse also has three of the top six pass-catchers in the ACC in terms of yards: tight end Oronde Gadsden II (810) and wide receivers Jackson Meeks (801) and Trebor Pena (743). Gadsden, who is from the greater Miami area, has had three straight 100-yard games. He is the son of former Miami Dolphins wide receiver Oronde Gadsden. Syracuse's run game is led by LeQuint Allen, who has rushed for 819 yards, a 4.3 average and 12 TDs. The issue for Syracuse could be its defense, which ranks 13th in the ACC in points allowed (27.8). Miami's defense is fourth (22.3). Even so, Syracuse coach Brown said he's excited about this matchup. "I heard Miami is going to come deep," Brown said of Miami fans. "It's going to be intense in the stands. It's going to be intense on the field. I think this is a game everyone wants to see." --Field Level Media
‘You’re a joke’: Ontario councillor tossed from meeting after insult-laced tiradeBy TOM KRISHER, Associated Press DETROIT (AP) — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. On Monday, Chancellor Kathaleen St. Jude McCormick turned aside a request from Musk’s lawyers to reverse a ruling she announced in January that had thrown out the compensation plan. The judge ruled then that Musk effectively controlled Tesla’s board and had engineered the outsize pay package during sham negotiations . Lawyers for a Tesla shareholder who sued to block the pay package contended that shareholders who had voted for the 10-year plan in 2018 had been given misleading and incomplete information. In their defense, Tesla’s board members asserted that the shareholders who ratified the pay plan a second time in June had done so after receiving full disclosures, thereby curing all the problems the judge had cited in her January ruling. As a result, they argued, Musk deserved the pay package for having raised Tesla’s market value by billions of dollars. McCormick rejected that argument. In her 103-page opinion, she ruled that under Delaware law, Tesla’s lawyers had no grounds to reverse her January ruling “based on evidence they created after trial.” On Monday night, Tesla posted on X, the social media platform owned by Musk, that the company will appeal. The appeal would be filed with the Delaware Supreme Court, the only state appellate court Tesla can pursue. Experts say a ruling would likely come in less than a year. “The ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners — the shareholders,” Tesla argued. Later, on X, Musk unleashed a blistering attack on the judge, asserting that McCormick is “a radical far left activist cosplaying as a judge.” Legal authorities generally suggest that McCormick’s ruling was sound and followed the law. Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, said that in his view, McCormick was right to rule that after Tesla lost its case in the original trial, it created improper new evidence by asking shareholders to ratify the pay package a second time. Had she allowed such a claim, he said, it would cause a major shift in Delaware’s laws against conflicts of interest given the unusually close relationship between Musk and Tesla’s board. “Delaware protects investors — that’s what she did,” said Elson, who has followed the court for more than three decades. “Just because you’re a ‘superstar CEO’ doesn’t put you in a separate category.” Elson said he thinks investors would be reluctant to put money into Delaware companies if there were exceptions to the law for “special people.” Elson said that in his opinion, the court is likely to uphold McCormick’s ruling. Experts say no. Rulings on state laws are normally left to state courts. Brian Dunn, program director for the Institute of Compensation Studies at Cornell University, said it’s been his experience that Tesla has no choice but to stay in the Delaware courts for this compensation package. The company could try to reconstitute the pay package and seek approval in Texas, where it may expect more friendlier judges. But Dunn, who has spent 40 years as an executive compensation consultant, said it’s likely that some other shareholder would challenge the award in Texas because it’s excessive compared with other CEOs’ pay plans. Related Articles “If they just want to turn around and deliver him $56 billion, I can’t believe somebody wouldn’t want to litigate it,” Dunn said. “It’s an unconscionable amount of money.” Almost certainly. Tesla stock is trading at 15 times the exercise price of stock options in the current package in Delaware, Morgan Stanley analyst Adam Jonas wrote in a note to investors. Tesla’s share price has doubled in the past six months, Jonas wrote. At Monday’s closing stock price, the Musk package is now worth $101.4 billion, according to Equilar, an executive data firm. And Musk has asked for a subsequent pay package that would give him 25% of Tesla’s voting shares. Musk has said he is uncomfortable moving further into artificial intelligence with the company if he doesn’t have 25% control. He currently holds about 13% of Tesla’s outstanding shares.
Trump team signs agreement to allow Justice to conduct background checks on nominees, staff
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