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☆ Here's why more than 60% of Fortune 500 companies are incorporated in Delaware
▼ + stars: | 2023-03-13 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com time to read: +2 min

But it's home to more than 60% of Fortune 500 companies, the state says, including Google parent company Alphabet, Amazon, CVS Health, and CNBC parent company Comcast. One of Delaware's major advantages is its Court of Chancery, which is a separate court system specifically for handling corporate cases. "It's a misnomer that Delaware is a tax haven for corporations," said Gigi Tewari, assistant professor at Widener University Delaware Law School. "So many people believe that, I should incorporate my business in Delaware because I'm going to save so much on corporate tax. Actually, Delaware is on the higher end for corporate tax."

The ruling authored by Jackson, who was confirmed last year by the Senate as the newest of the nine justices, was unanimous. Under that law, money orders that go uncashed can be generally taken by the state in which they are purchased. Circuit Judge Pierre Leval, later agreed with Delaware's view that they were not legally money orders but were "third-party bank checks." Jackson rejected that position, saying the financial instruments were similar to money orders in function and operation by allowing prepayment of a specified amount to a specific person. "And none of the differences Delaware identifies relates to the statutory text or ordinary meaning of a money order," Jackson wrote.

☆ Judge to hear final arguments in trial over Musk's $56 billion Tesla pay
▼ + stars: | 2023-02-21 | by ( Tom Hals | Thomson Reuters | Award-Winning Reporter With More Than Two Decades Of Experience In International News | ) www.reuters.com time to read: +2 min

[1/2] Tesla vehicles are shown at a Tesla service center in San Diego, California, U.S., January 13, 2023. REUTERS/Mike BlakeCompanies Tesla Inc FollowWILMINGTON, Del, Feb 21 (Reuters) - Lawyers for Elon Musk and a Tesla Inc (TSLA.O) investor will make closing arguments on Tuesday in a trial over his $56 billion pay package and whether it fueled the electric carmaker's growth or improperly subsidized Musk's dream of one day traveling to Mars. The arguments follow a five-day trial in November that featured testimony from the Tesla chief executive about the origins of the 2018 pay package and whether its performance goals were difficult to achieve and accurately described to investors. Musk, who founded rocket company SpaceX, admitted during his testimony that his pay package provided funds he would use to finance interplanetary travel. His lawyers also argued the pay plan benefited shareholders by increasing the value of their stock 10 times.

Prior to Monday's agreement, judicial appointments were limited to the two major parties. He argued the major party requirement violated his right to free association under the First Amendment to the U.S. Constitution. The bare majority requirement still applies, but now that majority could consist of independents. Governor John Carney, a Democrat, had argued that the state's courts are trusted by business leaders because of the balance guaranteed by the "bare majority" rule. Reporting by Tom Hals in Wilmington, Delaware; editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

An attorney for Musk, as well as Tesla and several directors who are also defendants, declined to comment. Musk surrendered the Tesla chairman position and agreed to let a company lawyer vet some of his tweets. He won a bench trial in Delaware's Court of Chancery last year over claims by Tesla shareholders that he allegedly coerced the Tesla board into buying SolarCity, a rooftop solar panel maker. Tesla shareholders had sought billions in damages and they have appealed. Around half are dismissed for failing to comply with securities law and most of the rest are settled.

The 2022 FHA mortgage borrowing limit is either $472,030 or $529,000 depending on the county. The conforming mortgage borrowing limit is $726,200 for all Delaware counties. Each year, the Federal Housing Finance Agency (FHFA) and Federal Housing Administration (FHA) set mortgage limits on conforming mortgages and FHA mortgages. Below, you'll find the 2023 mortgage borrowing limits for all Delaware counties, gathered from the FHA and the US Department of Housing and Urban Development. Delaware borrowing limits in 2023 for conforming and FHA mortgages by countyDelaware's conforming mortgage limits reflect many other parts throughout the US.

☆ Rupert Murdoch will be deposed in a $1.6 billion defamation case involving Dominion Voting Systems, WaPo reports
▼ + stars: | 2022-12-06 | by ( Lloyd Lee | Cheryl Teh | ) www.businessinsider.com time to read: +2 min

Dominion Voting System is pursuing a $1.6 billion defamation case against Fox News. The lawsuit claims the network amplified false claims surrounding the 2020 election results. Rupert Murdoch, chairman of Fox Corp., will be the most senior executive to be deposed in the case. Dominion Voting Systems has filed several other defamation lawsuits regarding claims its machines helped rig the 2020 election. Attorneys for Fox News and Dominion Voting Systems did not immediately respond to Insider's request for comment.

They argued the pay package did what it aimed to do -- ensure the entrepreneur successfully guided Tesla through a critical period which helped drive the stock 10-fold higher. The Tesla shareholder lawsuit argues that the pay package should have required Musk to work full time at Tesla. In all, 19 witnesses are scheduled, including directors and executives from 2018, compensation experts and advisors who helped craft the pay package. Tesla has hit 11 of the 12 targets as its value ballooned briefly to more than $1 trillion from $50 billion, according to court papers. A decision will likely take around three months after the trial and could be appealed to the Delaware Supreme Court.

After learning about its Russian roots from Reuters, it removed Pushwoosh software from seven public-facing apps, citing security concerns. The U.S. Army said it had removed an app containing Pushwoosh code in March because of the same concerns. Pushwoosh code has been embedded into almost 8,000 apps in the Google and Apple app stores, according to Appfigures, an app intelligence website. "We haven't found any clear sign of deceptive or malicious intent in Pushwoosh's activity, which certainly doesn't diminish the risk of having app data leaking to Russia," he added. The CDC apps that contained Pushwoosh code included the agency's main app and others set up to share information on a wide range of health concerns.

☆ Live Results: Delaware votes in congressional and state elections
▼ + stars: | 2022-11-08 | by ( Walt Hickey | ) www.businessinsider.com time to read: +1 min

Polls close in the state at 8 p.m. Eastern Standard Time. It symobilizes the 2022 Election. Election 2022 Delaware Results Explore more election results Alaska Arizona California Colorado Connecticut Florida Georgia Illinois Indiana Iowa Kansas Maine Maryland Massachusetts Michigan Minnesota Nevada New Hampshire New Mexico New York North Carolina Ohio Oregon Pennsylvania Rhode Island Texas Virginia Washington WisconsinDelaware's sole congressional seat is up for election, and not much else at that. The state has no senators up for election this cycle, nor is the governor up for election. Polls close in the state at 8 p.m. Eastern Standard Time.

[1/2] SpaceX Chief Engineer Elon Musk gestures during a joint news conference with T-Mobile CEO Mike Sievert at the SpaceX Starbase, in Brownsville, Texas, U.S., August 25, 2022. REUTERS/Adrees LatifCompanies Twitter Inc FollowTesla Inc FollowWILMINGTON, Del., Nov 7 (Reuters) - As Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker. The disputed pay package allows Musk to buy 1% of Tesla's stock at a deep discount each time escalating performance and financial targets are met; otherwise Musk gets nothing. Does Elon Musk work for the board or does the board work for Elon Musk," said Minor Myers, a professor at UConn School of Law. Myers said if the pay package is rescinded, the board could simply create a new one and do so with McCormick's ruling to guide them.

☆ Delaware woman wins the lottery twice in one week—and she's not the first person to defy the odds
▼ + stars: | 2022-11-01 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

Earlier this month, a 70-year-old woman from Delaware won two lottery jackpots totaling $400,000 in the same week, despite the incredible odds of such a feat. And it's not the first time something like this has happened to a lottery winner, either. The winner, who asked to remain anonymous, first won $100,000 after scratching a $100K Ultimate Cash instant lottery ticket she purchased for $20 from a Speedy Gas in Newark, Delaware, according to a Delaware Lottery press release. Despite the 1 in 150,000 odds of winning, one of her tickets won the jackpot prize of $300,000, bringing her total winnings to $400,000 for the week. The woman, who described her reaction as "disbelief," says she plans to save most of the money for retirement.

$55 BILLION TESLA PAY LAWSUITA shareholder of Tesla wants a judge to find that Musk's Tesla pay package, which is estimated to be worth $55 billion, unjustly enriches Musk. read more read moreTesla has said it does not tolerate discrimination and has taken steps to address workers' complaints. LAWSUITS SPARKED BY MUSK'S TWEETSIn August 2018, Musk sent a tweet that he had "funding secured" to take Tesla private, sending shares sharply higher. Tesla shareholders are suing in Delaware to tighten oversight of Musk's tweets about the company. read moreJPMorgan Chase & Co (JPM.N) also sued Tesla in November for $162.2 million, saying it was forced to reprice Tesla stock warrants after the 2018 tweet.

SpaceX Chief Engineer Elon Musk takes part in a joint news conference with T-Mobile CEO Mike Sievert (not pictured) at the SpaceX Starbase, in Brownsville, Texas, U.S., August 25, 2022. Tesla CEO Elon Musk is now in charge of Twitter , CNBC has learned. Twitter CEO Parag Agrawal and finance chief Ned Segal have left the company's San Francisco headquarters and will not be returning, sources said. A Delaware Chancery Court judge eventually ruled that Musk had until Oct. 28 to cement the Twitter deal or head to trial. Musk arrived at the Twitter headquarters earlier this week carrying a sink, and documented the event on Twitter, saying "Entering Twitter HQ – let that sink in!"

☆ Biden's comment that his son Beau 'lost his life in Iraq' caught attention. Here's why he would say that.
▼ + stars: | 2022-10-13 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

Some publications have seized on Joe Biden's statement that his son "lost his life in Iraq." But Biden has long tied the toxic burn pits his son was exposed to during his military service to his brain cancer. "I say this as a father of a man who won the Bronze Star, the Conspicuous Service Medal, and lost his life in Iraq. He said then that he became aware of the possible link while reading, "The Burn Pits: The Poisoning of America's Soldiers," by Joseph Hickman. Biden said his grandson, who was seated next to the girl, lost his father "to the same burn pits."

☆ Twitter lawyer tells court Musk has not backed up claims of fake accounts
▼ + stars: | 2022-09-27 | by ( Tom Hals | Thomson Reuters | Award-Winning Reporter With More Than Two Decades Of Experience In International News | ) www.reuters.com time to read: +2 min

Documents obtained from two data scientists employed by Musk showed they estimated in early July that the number of fake accounts on the platform at 5.3% and 11%, the Twitter lawyer told a Delaware judge. "None of these analyses so far as we can tell remotely supported what Mr. Musk told Twitter and told the world in the termination letter," said the lawyer, Bradley Wilson. Musk and Twitter are locked in a court fight and Twitter is seeking an order directing Musk to close the deal at $54.20 per share. They are scheduled to go trial starting Oct. 17 in Wilmington, in Delaware's Court of Chancery. On July 8 Musk said the actual figure was "wildly higher" and that Twitter had misled him, allowing him to walk away without penalty from the deal.

Register now for FREE unlimited access to Reuters.com RegisterAn image of Elon Musk is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/IllustrationWILMINGTON, Del, Sept 20 (Reuters) - Twitter Inc (TWTR.N) will question Elon Musk under oath in Delaware next week as part of the litigation in the billionaire's bid to walk away from his $44 billion deal for the social media company. A Tuesday filing in Delaware's Court of Chancery said Musk's deposition is scheduled for Sept. 26-27 and may stretch into Sept. 28 if necessary. Twitter wants a judge to order Musk, who is chief executive of Tesla Inc (TSLA.O) and the world's richest person, to buy the company as agreed for $54.20 per share. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tom Hals in Wilmington, Delaware; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ The whistleblower hearing was more of a win for Twitter than Elon Musk in their $44 billion court battle, some experts say
▼ + stars: | 2022-09-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Experts told Insider the Twitter whistleblower's hearing did little to aid Elon Musk's legal case. Musk's legal team has amended its countersuit against Twitter to include Zatko's claims. Another avenue for Musk's team could be if the FTC imposes a fine or revisits its 2011 settlement with Twitter. But, Zatko appeared to have no firsthand knowledge of FTC compliance issues in his testimony, experts said. Zatko has been subpoenaed for the $44 billion court battle between Musk and Twitter.

☆ Tom Carper's love of Amtrak doesn't take a back seat to Joe Biden's
▼ + stars: | 2021-06-06 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +14 min

His committee oversees surface transportation, and he loves trains, just like "Amtrak Joe." "Then they named it after Joe Biden, and my staff was so ticked off. Sen. Thomas Carper and then-Vice President Joe Biden speak at the former GM Boxwood Plant in October 2009 in Wilmington, Delaware. Tom Carper and Chris Coons speak to reporters after meeting with President Joe Biden at the White House in February, 2021. As he left, "Tell Joe Biden we love him," the ticket counter attendant said.

☆ Tesla aims to revitalize its solar energy and storage business this year after 2019 slump
▼ + stars: | 2020-02-14 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

Elon Musk reveals prototypes of the Tesla Solar Roof on October 28, 2016 TeslaEven with a record fourth quarter for its solar energy and storage systems business, Tesla's energy revenue declined by over $24 million in 2019, after several rounds of layoffs that started the prior year. Tesla said, in its annual financial report on Thursday, that it's ramping up solar photovoltaic production at its plant in Buffalo, New York. "We have recently started manufacturing solar panels at this facility in collaboration with Panasonic," the filing states. Since the acquisition, solar energy has been a relatively small and dwindling business for Tesla, in part because of delays in manufacturing and a longer development cycle than expected. Musk said last March that 2019 would be the "year of the solar roof."

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