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A White House statement accused House Republicans of planning to go after Biden "with politically motivated attacks chock full of long-debunked conspiracy theories." Hunter Biden never held a position in the White House or on his father's campaign. The House Republicans' probe will begin to unfold next year, as the U.S. political calendar heads toward the 2024 presidential election, in which Biden said he currently intends to seek re-election. More than a dozen House Republicans appeared alongside Comer at a Wednesday press conference, many of them staunch allies of Trump, who announced his own 2024 White House run on Tuesday. The looming House Oversight investigation of Biden will coincide with a House Judiciary Committee probe into allegations of political influence at the Justice Department under Biden.

☆ Tesla’s close-knit leadership team goes under the spotlight in court
▼ + stars: | 2022-11-17 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +6 min

Tornetta accuses Tesla’s board of breaching its duties to shareholders. The pay package from Tesla’s board granted Musk large sums of shares every time Tesla hit certain milestones, including earnings and share price targets. In this sketch, former Tesla board member Antonio Gracias testifies in court. Ehrenpreis also had the rights to the first Model 3, Tesla’s breakout product, but gave it to Elon Musk as a birthday gift. Ehrenpreis is also the Tesla board member who asked consultants if hypothetically Tesla could lower the disclosed costs of Musk’s compensation plan.

☆ Low-cost airline Sun Country is launching 15 new non-stop routes to New York, Charlotte, and Atlantic City from its Minneapolis hub — see the list
▼ + stars: | 2022-11-17 | by ( Brady Macdonald | ) www.businessinsider.com time to read: +3 min

Sun Country Airlines will fly 15 nonstop routes from Minneapolis-St. Paul International Airport to new and returning destinations. Sun Country operates 120 routes to more than 90 destinations but is one of the smaller US airlines. Sun Country Airlines will fly 15 nonstop routes from Minneapolis-St. Paul International Airport to new and returning destinations including Charlotte, Detroit, St. Louis, Milwaukee, Colorado Springs, and Atlantic City, the airline announced. Sun Country partners China Airlines, Emirates, and Icelandair all fly out of JFK to international destinations. Sun Country has been adding routes as the carrier's network continues to expand.

- Ray said he had secured $740 million in cryptocurrency, a "fraction" of what he hopes to recover during the bankruptcy. Bankman-Fried and his co-founders failed to identify wallets that might contain FTX assets, he added. - Record keeping was so lax that Ray said he was unable to compile a complete list of FTX employees. - The second silo is Alameda Research LLC, which Ray described as a crypto hedge fund owned by Bankman-Fried and Wang with assets of $13.46 billion. - The other silos were Ventures, which manages private investments and had around $2 billion in assets, and Dotcom, which owned non-U.S. exchanges with $2.25 billion in assets.

☆ Elon Musk to Take Stand in Trial Over His Tesla Compensation Package
▼ + stars: | 2022-11-16 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

WILMINGTON, Del.—Elon Musk is slated to take the stand Wednesday in a shareholder lawsuit over his multibillion-dollar compensation package at Tesla Inc. The trial that kicked off Monday in Delaware’s business-law court has focused on whether Mr. Musk, Tesla’s chief executive, had undue influence over a 2018 pay package that is worth around $52 billion at recent share prices.

☆ Elon Musk Says He Expects to Name a Twitter Boss as He Testifies Over His Tesla Pay Deal
▼ + stars: | 2022-11-16 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

WILMINGTON, Del.—Elon Musk said he expects to name someone else to run Twitter Inc. and gradually scale back how much time he spends managing the platform he acquired late last month for $44 billion. Mr. Musk, who also runs Tesla Inc. and rocket company SpaceX, said he has been spending the lion’s share of his time on Twitter recently. “I expect to reduce my time at Twitter and find somebody else to run Twitter over time,” Mr. Musk said while testifying in Delaware in a trial over his Tesla compensation package.

☆ Elon Musk Says He Expects to Name a Twitter CEO as He Testifies Over His Tesla Pay Deal
▼ + stars: | 2022-11-16 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

☆ Musk says he made some Tesla decisions without board nod, defends $56 billion pay
▼ + stars: | 2022-11-16 | by ( Tom Hals | Hyunjoo Jin | ) www.reuters.com time to read: +5 min

WILMINGTON, Del (Reuters) -Elon Musk said in court on Wednesday that he made some Tesla Inc decisions without the approval of the company’s directors, as he defended his $56 billion pay package against claims that he dictated its terms to a compliant board. Questioned by Tornetta’s lawyer, Greg Varallo, Musk rejected claims that his pay package goals were easy to achieve. An email from May 2017 appeared to establish that Musk was pushing for the pay plan months before the board negotiated it with him. Antonio Gracias, a venture capital investor and longtime friend of Musk who was also a Tesla board member from 2007 to 2021, took the stand after Musk testified. The disputed Tesla package allows Musk to buy 1% of Tesla’s stock at a deep discount each time escalating performance and financial targets are met.

☆ Musk says he was focused on reviving Tesla, defends $56 billion pay
▼ + stars: | 2022-11-16 | by ( Tom Hals | Hyunjoo Jin | ) www.reuters.com time to read: +4 min

Elon Musk, Chief Executive Officer (CEO) of SpaceX, Tesla and Twitter, arrives to a trial regarding his Tesla pay package at the Delaware Court of Chancery in Wilmington, Delaware, U.S., November 16, 2022. Tesla shareholder Richard Tornetta sued Musk and the board in 2018 and hopes to prove that Musk used his dominance over Tesla’s board to dictate terms of the package, which did not require him to work at Tesla full-time. Musk, the world’s richest person, described how the automaker was struggling to survive in 2017, when the pay package was developed. The legal team for Musk and the Tesla directors have cast the pay package as a set of audacious goals that worked by driving 10-fold growth in Tesla’s stock value, to more than $600 billion from around $50 billion. The disputed Tesla package allows Musk to buy 1% of Tesla’s stock at a deep discount each time escalating performance and financial targets are met.

☆ Amid Twitter turmoil, Musk arrives in court for $56 billion Tesla pay trial
▼ + stars: | 2022-11-16 | by ( Tom Hals | ) www.reuters.com time to read: +3 min

On Monday and Tuesday, the court got a taste of Musk’s testimony through short clips from his 2021 deposition in the litigation. In one clip, Musk dismissed the idea that the board should have discussed requiring that he spend more time with Tesla. The disputed Tesla package allows Musk to buy 1% of Tesla’s stock at a deep discount each time escalating performance and financial targets are met. Tesla has hit 11 of the 12 targets, according to court papers. The Musk case survived a motion to dismiss because it was determined he might be considered a controlling shareholder, which means stricter rules apply.

☆ Amid Twitter turmoil, Musk takes stand in $56 billion Tesla pay trial
▼ + stars: | 2022-11-16 | by ( Tom Hals | ) www.reuters.com time to read: +3 min

In one clip, Musk dismissed the idea that the board should have discussed requiring that he spend more time with Tesla. He apologized from the stand to a British diver who he called “pedo guy” in a tweet and who sued Musk for defamation. The disputed Tesla package allows Musk to buy 1% of Tesla’s stock at a deep discount each time escalating performance and financial targets are met. Tesla has hit 11 of the 12 targets, according to court papers. The Musk case survived a motion to dismiss because it was determined he might be considered a controlling shareholder, which means stricter rules apply.

☆ Elon Musk Testifies in Court Over His Multibillion-Dollar Tesla Pay Deal
▼ + stars: | 2022-11-16 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

WILMINGTON, Del.—Elon Musk said the targets in his multibillion-dollar Tesla Inc. pay package were “extremely unlikely” when initially contemplated, as he defended the grant on the stand Wednesday. The trial that kicked off Monday in Delaware’s business-law court has focused on whether Mr. Musk, Tesla ‘s chief executive, had undue influence over a 2018 pay package that is worth around $52 billion at recent share prices.

Tesla shareholder Richard Tornetta sued Musk and the board in 2018 and hopes to prove that Musk used his dominance over the electric vehicle maker's board to dictate terms of the package, which did not require him to work at Tesla full-time. In one clip, Musk dismissed the idea that the board should have discussed requiring that he spend more time with Tesla. He apologized from the stand to a British diver who he called "pedo guy" in a tweet and who sued Musk for defamation. The disputed Tesla package allows Musk to buy 1% of Tesla's stock at a deep discount each time escalating performance and financial targets are met. The Musk case survived a motion to dismiss because it was determined he might be considered a controlling shareholder, which means stricter rules apply.

☆ Elon Musk takes the stand in lawsuit over his Tesla pay
▼ + stars: | 2022-11-16 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Tesla CEO Elon Musk is testifying this morning in a shareholder lawsuit examining the massive compensation package that helped make him the world’s richest person. Musk was awarded the compensation package in 2018, and shareholders approved the deal at the time. They’ve also contrasted Musk’s compensation with the average Tesla salary, which they’ve said is $40,000. Musk’s compensation package goals were characterized t as lofty and incredibly difficult to achieve. This is a developing story and will be updated throughout Musk’s testimony.

☆ Tesla Chair Testifies in Elon Musk’s Compensation Trial in Delaware
▼ + stars: | 2022-11-15 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

In this courtroom sketch from Monday, venture capitalist Ira Ehrenpreis was cross-examined in Elon Musk’s compensation trial. WILMINGTON, Del.— Tesla Inc. Chair Robyn Denholm kicked off testimony Tuesday in the second day of a trial over Elon Musk‘s multibillion-dollar pay package at the electric-vehicle maker. A Tesla shareholder, Richard Tornetta, is seeking to nullify Mr. Musk’s 2018 compensation grant, alleging that Mr. Musk controlled the board’s consideration of his pay package and failed to disclose crucial information to shareholders who signed off on it—such as how achievable the company viewed certain milestones to be. The package is worth around $51 billion at recent share prices.

☆ Tesla’s board chair says Musk needed money for space travel
▼ + stars: | 2022-11-15 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Elon Musk said that he needed to receive what amounted to the largest compensation package in history so that he could fuel his goals around “inter-planetary travel,” Tesla board chair Robyn Denholm testified Tuesday. Musk has long claimed that he intends to use his vast wealth in pursuit of space travel and colonization. “Quite honestly, I don’t know how much it costs to do any inter-planetary travel. The company’s driving interest in awarding Musk such an enormous compensation package was to keep his focus on Tesla, as opposed to his other companies. Denholm said Tuesday that Musk’s previous compensation package before the 2018 plan wasn’t adequate to keep him engaged at Tesla.

☆ Elon Musk’s Influence Over Tesla’s Board in Focus as Tesla Compensation Trial Kicks Off
▼ + stars: | 2022-11-14 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

WILMINGTON, Del.—Opening-day testimony in the trial over Elon Musk‘s multibillion-dollar pay package at Tesla Inc. centered on the CEO’s role in determining his own compensation. A Tesla shareholder, Richard Tornetta , is seeking to nullify Mr. Musk’s 2018 compensation grant, alleging that Mr. Musk controlled the board’s consideration of his pay package and failed to disclose crucial information to shareholders, who signed off on it. The package is worth around $51 billion at recent share prices.

☆ Elon Musk’s Tesla Compensation Trial in Delaware Court Kicks Off
▼ + stars: | 2022-11-14 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com time to read: 1 min

WILMINGTON, Del.—The trial over Elon Musk‘s multibillion-dollar pay package at Tesla Inc. kicked off Monday morning in Delaware’s business-law court. A Tesla shareholder, Richard Tornetta , is seeking to nullify Mr. Musk’s 2018 compensation grant, valued at around $52 billion at recent share prices. The plaintiff is alleging that the board at the time failed to disclose crucial information about the package to shareholders, who signed off on it.

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.

☆ Older Americans are moving in with people their age to play bocce, make art, and be their true selves
▼ + stars: | 2022-11-14 | by ( Robert Davis | ) www.businessinsider.com time to read: +7 min

Some older Americans are building cohousing communities instead of moving into senior living. That was until 2014, when the Salmons and a group of eight other seniors began developing Quimper Village, a cohousing community in Port Townsend for people ages 55 and older. The Salmons are part of a growing coalition of older adults who are choosing to live in cohousing communities with people who are about their same age. The website also highlights amenities such as a bocce court and an art studio, which residents also manage. Though Erde describes herself as an introvert, living at PDX Commons has allowed her to be more social, she said.

☆ Tesla heads to court to defend Elon Musk’s pay
▼ + stars: | 2022-11-14 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —Tesla headed to court today to defend the huge compensation package that helped make CEO Elon Musk the richest person on Earth. Even in the rarified air of CEO pay, Musk’s compensation plan stood apart. The Tornetta complaint alleges that the board of directors that created Musk’s compensation plan lacked sufficient independence from him. “This is a huge package,” Hayn said of the compensation plan. Tesla leadershipHayn noted that Musk’s close relationships with the board members could be problematic for Tesla in the case.

☆ The president of a firm using AI technology to beat the S&P 500 over the last two years shares 8 stocks to buy that have outperformed during previous rate hike cycles
▼ + stars: | 2022-11-13 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

Toggle President Giuseppe Sette shared eight stocks to buy to outperform the rate hiking cycle. Inflation may have slightly cooled last month, but that doesn't mean the Federal Reserve is planning to stop its rate hiking program anytime soon. With the US economy still in the middle of a rate hiking cycle, where's the best place for investors to park their money right now? "It doesn't look like this is a market you want to be holding in, getting back to the single stocks," Sette added. Top 8 stocks to outperform a rate hiking cycleUsing Toggle's methodology, Sette shared eight stocks that have outperformed during a rate hiking cycle, with the current market conditions mirroring the environments in which these stocks have previously succeeded.

WILMINGTON, Del, Nov 11 (Reuters) - Elon Musk has taken on Detroit's automakers, short-sellers and securities regulators. Next week, the Tesla (TSLA.O) chief executive is set to square off in court against an unlikely foe - a thrash metal drummer who hopes to strip Musk of his $56 billion pay. Tornetta sued Musk and the Tesla board on behalf of the company in what is known as a shareholder derivative lawsuit. The pay package was widely criticized and California's teachers retirement system known as CalSTRS was among the investors who voted against it. 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.

☆ What to know as October inflation data looms - and the Federal Reserve's next move.
▼ + stars: | 2022-11-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Year-over-year inflation for October is expected to have eased slightly to 7.9%, according to Bloomberg's median estimate, down from 8.2% September. But here's a tidbit I did not find reassuring: The annual inflation rate came in above forecasts in six of the last seven months. While it'd be a good sign if CPI comes in lower than September, that doesn't mean the economy is in the clear — far from it, actually. "If Core inflation comes in greater than 0.5%, the Fed will raise rates more and we would be reevaluating the probability of a recession, and probably raising it higher." The chief global strategist for JPMorgan's investing arm explained why the Fed will cause an unnecessary recession, even as inflation is fading away.

☆ 'Growthier' parts of market are oversold and look attractive on valuation basis, says Wilmington Trust's Shue
▼ + stars: | 2022-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Growthier' parts of market are oversold and look attractive on valuation basis, says Wilmington Trust's ShueMeghan Shue, Wilmington Trust, joins 'TechCheck' to discuss if her recent investment advice holds, how much of Thursday's market rally is because of new information and what advice she has for the 'retail investor.'

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