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September 5th - According to Axios, Republican confidence in the economy has plummeted at an unprecedented rate since the pandemic began over the past six months, a decline comparable to that during the global financial crisis nearly two decades ago. Typically, the ruling party is more optimistic about the economy, while the opposition is far more pessimistic. However, the current situation is unusual; even with Republicans in the White House, Republican voters are increasingly negative about the economy this year. With only two months left until Election Day, this adds another ominous sign for Trump. The director of the University of Michigans consumer survey stated that most of the time, Republican and Democratic confidence in the economy moves roughly in parallel, but this is not the case now. Republicans initially had very positive expectations for the governments economic policies (including tariffs), but they have seen neither a slowdown in inflation, let alone the price reductions promised by Trump.September 5th - The U.S. military stated on the 4th that it has shot down more than 300 drug cartel drones along the U.S.-Mexico border this year. The U.S. Northern Command issued a statement that day saying that the U.S. military has used both kinetic and non-kinetic systems to shoot down more than 300 drones this year to support U.S. Customs and Border Protection, including more than 100 in August. The U.S. military began using the Army Multipurpose High Energy Laser (MLLS) system in border operations on August 24th, and as of September 4th, it had used the system to shoot down 11 drug cartel drones. The U.S. military began using the Army Multipurpose High Energy Laser (MLLS) system in border operations on August 24, and as of September 4, it had used the system to shoot down 11 drug cartel drones.September 5th - Just earlier this year, France completed the domestic consolidation of all its official gold reserves, completely clearing out its custodial holdings in the United States. Eric Monnet, a professor at the Paris School of Economics, stated that this operation not only standardized the quality and specifications of its gold reserves, but also effectively mitigated inflation arising from the Russia-Ukraine conflict, while highlighting considerations for national sovereignty and asset security amidst geopolitical changes. Currently, many countries in Europe, South Asia, Southeast Asia, and the Middle East are reassessing the risks of overseas custody. With rising geopolitical and financial market uncertainty, a new round of adjustments to gold reserve allocations is underway globally.German Chancellor Merz: (Regarding the attempted drone attack at the airport) The attribution is very clear and has a full legal basis.According to Interfax news agency, the Russian Ministry of Defense stated that Russia struck two ships carrying military cargo at the port of Chernomorsk in Ukraine. Russia also attacked a cargo ship near the port of Odessa in Ukraine.

Jury Assembled in Shareholder Suit Regarding Musk's 2018 Tweets

Charlie Brooks

Jan 18, 2023 11:17

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A jury of nine individuals was appointed Tuesday in San Francisco to hear a complaint brought by Tesla (NASDAQ:TSLA) Inc shareholders about CEO Elon Musk's 2018 tweets saying he had secured funding to take the electric vehicle manufacturer private.


As U.S. District Court Judge Edward Chen attempted to select an impartial jury to determine if Musk's claim that funding was "secured" constituted fraud and cost investors "billions" of dollars, none of the jurors had strong feelings about the billionaire.


Chen focused on a few panelists who labeled Musk in questionnaires as "crazy" and "arrogant."


Regarding Musk's October takeover of Twitter as CEO, a jury observed, "I think he's a little off his rocker on a personal level."


This potential juror and others said that they could judge the case impartially if chosen, but neither he nor another potential juror who described Musk as a "smart, successful pioneer" were selected for the jury.


Musk's reputation for eccentric conduct has developed since he became Tesla's CEO, as evidenced by his ambition to conquer Mars and the naming of one of his children after a symbol.


Investors filed a lawsuit in August 2018, shortly after Musk tweeted that he was considering taking Tesla private at $420 per share. "Financing has been acquired," he announced.


In a further tweet on the same day, he wrote, "Investor support is confirmed," and added, "the only reason this is not assured is because shareholder approval is contingent."


Chen determined that these claims were incorrect and irresponsible. The jury will assess whether Musk's remarks were material to investors, if he acted knowingly, and whether and how much damages will be awarded.


The accused, who include seven current and former Tesla directors, have denied any wrongdoing.


They have claimed in court documents that they will argue that Musk had adequate grounds to expect the transaction's funds were secured.


According to court documents, the billionaire met Yasir Al-Rumayyan, managing director of Saudi Arabia's sovereign wealth fund, numerous times. According to reports, Al-Rumayyan urged Musk to take Tesla private and offered capital of up to $60 billion.


Musk, Oracle Corp (NYSE:ORCL) co-founder Larry Ellison, and James Murdoch, son of Fox Corp Chairman Rupert Murdoch, may testify in the lawsuit, according to court documents.


The trial is scheduled to continue on Wednesday with opening statements.


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