With not many specifics available yet on Elon Musk's Aug. 7 tweet about taking electric car maker Tesla private, analysts covering the company are debating if his $420-a-share proposal is a fair price for the stock, or if the transaction will even materialize.Six of the 13 analysts who International Business Times/Newsweek spoke to think Musk's offer, which would value Tesla at $71 billion, is not a fair price for investors.On the other hand, six others aren't sure if the taking-private deal would even materialize, citing the current fundamentals of the company. They have price targets well below $400 for the stock, with Cowen setting it as low as $200. Among the latter six, Efraim Levy, senior equity analyst at CFRA Research, did not provide a price target but thinks "there is significant risk that the transaction doesn't happen," adding the company is extremely highly valued, often too richly.ADVERTISINGGlenna Anderson, from BMO Wealth Management, was not in either of the two groups, … [Read more...] about Tesla stock price: Is Elon Musk’s $420-a-share proposal fair?
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Henry Payne The Detroit News Published 6:15 p.m. UTC Jul 25, 2018 Sergio Marchionne, 1952-2018 Sergio Marchionne, the former head of Fiat Chrysler Automobiles who died Wednesday at age 66, will be remembered as one of the auto industry's transformational figures. An automotive outsider groomed as an accountant and financial officer, Marchionne engineered the merger of Fiat and Chrysler in 2009. By the time he was replaced as CEO by Jeep chief Mike Manley in a hastily called board meeting Saturday, Marchionne had revived the fortunes of both companies as a growing, international conglomerate encompassing 10 brands under the corporate umbrella Fiat Chrysler Automobiles LLC. "His unbelievable turnaround left Fiat so much healthier than when he found it," says Jeremy Acevedo, manager of industry analysis for Edmunds. "He'll be remembered as one of the early 21st-century's great auto leaders along with Alan Mulally and … [Read more...] about Sergio Marchionne, former Fiat Chrysler CEO, has died
It will be a day or too late by the time you read this, but: Happy Independence Day! It’s been a very long time since I felt compelled to cloak my appreciation of this country in the kind of irony frequently employed by my autojourno colleagues on Twitter and elsewhere, and I certainly won’t start now. The United States is far from perfect and I am afraid that some of the changes made here over the past fifty years have been profoundly negative in their effects, but it remains the proverbial city on the hill for many of the world’s citizens. As the song says, I’ve been around the world and I, I, I, I… haven’t seen any other place where middle-class families own property, start businesses, and create wealth like they do here. While I certainly understand how many of my coastal friends and acquaintances no longer feel that the American Dream exists for them or for anyone else, I also feel compelled to note that we are doing just fine here in the … [Read more...] about No Fixed Abode: The Case For the American Car Abroad
Hello, devout Jalopnik readers. I’m sure by now you’re well aware that Elon Musk, the Tesla/Space X billionaire bro, the big kid with an even bigger wallet, is dating Grimes, the Canadian indie musician/producer/critically acclaimed weirdo, born Claire Elise Boucher. But who are these people? What does it all mean? After all, those are a lot of identity terms! A lot more than just “girlfriend,” you’ll surely note, because Grimes is a complicated and celebrated artist. And one who now might’ve gone and fucked her shit up by dating a very high-profile man who seems systematically at odds with a lot of the grassroots, anarchist-ish, punk-ish things she’s, historically, been viewed as representing—and by wading into Tesla’s labor issues at the same time. Let’s dive in, shall we? Who Is Grimes? Why Is She A Thing? Glad you asked. At some point in 2007, a young woman named Claire Boucher relocated from her hometown of Vancouver to … [Read more...] about Your Guide To Grimes And Elon Musk, The Most Bewildering Space Romance Of Our Time