The face of White addiction: Elon Musk just cost Tesla $4.6B

"This past year has been the most difficult and painful year of my career."Image ROBYN BECK AFP Getty Images

The day's drop in Tesla's stock shaved $5 billion off its market capitalization, but still left it about $1 billion above General Motors' GM.N $51 billion stock market value.

In a recent interview with the New York Times, Musk was frequently "choked up" when he told reporters about how his personal life has suffered because of his (admittedly ambitious) work.

"This past year has been the most hard and painful year of my career", he told the newspaper. Musk demurred, and said that his focus was on technology, design and manufacturing while Jon McNeill was handling sales, service, and customer financing.

Elon Musk has acknowledged exhaustion from overwork as he deals with the aftermath of a market-rattling tweet on taking Tesla private - a mess that worsened with reports that United States regulators subpoenaed him over the statement.

Musk told the interviewer that he occasionally takes the prescription sleep aid Ambien to help him sleep when his is not working. Weed is not helpful for productivity. You just sit there like a stone on weed'. During Tesla's first-quarter earnings call in May, Musk dissed analysts, cutting off Sanford Bernstein's Toni Sacconaghi because of what he called a "boring, bonehead" question. The article quoted one source as saying some board members are anxious that Musk is tweeting on Ambien, and referred to concerns about occasional recreational-drug use. Tesla could be on the hook for any of those losses as a result of trading on information in Musk's tweet.

Sky Sports Pundit Predicts Scores For Chelsea vs Arsenal, Tottenham vs Fulham
Spurs' first-half dominance was rewarded by Lucas Moura's clinical 43rd minute strike, his first league goal . The Foxes broke the deadlock after 29 minutes through an own goal from Wolves defender Matt Doherty.

"If you have anyone who can do a better job, please let me know".

As analysts cast doubt over the profitability the Model 3 electric vehicle, shares plunged 9pc.

With $11 billion worth of shares sold short, Tesla is the most shorted USA company, according to S3 Partners, a financial analytics firm.

As he explained in the interview, Musk was en route to an airport when he announced on Twitter that he was considering making Tesla a private company once more.

Hamish Chamberlayne of Global Sustainable Equity, a Tesla investor, said it would be hard to imagine the company without Musk running things, but backed the hiring of an operations chief.

President Trump Is Interested in a Major Shakeup for Corporate Earnings Reports
Currently, all publicly traded companies in the US must file reports with the SEC four times a year, every three months. SEC spokesmen didn't immediately respond to a request for comment.

Musk's seemingly fragile psychological state put pressure on Tesla's board to take action, said Erik Gordon, a University of MI business and law professor.

"Over the past 15 years, Elon's leadership of the Tesla team has caused Tesla to grow from a small start-up to having hundreds of thousands of cars on the road that customers love, employing tens of thousands of people around the world, and creating significant shareholder value in the process", the statement said, without addressing Mr Musk's recent behaviour.

Tesla's board showed no sign of taking action on Friday. Despite approaching Facebook's Sheryl Sandberg earlier, Musk denied that Tesla is now trying to fill the position. "They can have the job", Musk was quoted as saying.

"There are growing concerns that the board may consider changing his specific role from CEO and chairman and there could be pressure from the SEC to do this as well based on his tweeting activity", said Ivan Feinseth, analyst at Tigress Financial Partners. They can have the reins right now'. Is there someone who can do the job better?

New year, same scapegoat - Arsenal's fall guy slated again after Chelsea loss
I am happy with Mesut because he worked hard. "Today, with Auba, I know he can play". But also they had options, chances to score and effectiveness is the difference.

Latest News