US Automaker Had Nothing To Do With Shady Larosa Holdings
Australian authorities are investigating a company for allegedly stealing investor's money by promising to buy Tesla stock and not following through. The equivalent of over $1.78 million might have been lost by people across the country.
Israel-based vehicle safety technology company Mobileye (NYSE: MBLY) has successfully launched its Initial Public Offering on the New York Stock Exchange, raising approximately $890 million to value the company at a reported $5.3 billion.
Well how's that for an about-face? It was not even two weeks ago that we were reporting on Warren Buffett's praise for General Motors' CEO Mary Barra and her handling of the ignition switch recall. That hasn't stopped Buffett's company, Berkshire Hathaway from unloading shares during the first quarter of 2014. It's trimmed its shares by 25 percent, to 30 million shares, during the first quarter of 2014.
Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
When we want to know how a car company is doing, one thing we typically look at is how many cars it's selling. That means Toyota is the largest, General Motors the second, followed by Volkswagen, then down the line. But there are other metrics by which to evaluate how an automaker is doing. That, in the case of publicly-traded companies like GM, is stock price. And the General seems to be doing pretty well.
Special Inspector General Christy Romero has delivered another report to Congress on the state of the Troubled Asset Relief Program (TARP) up to June 6 of this year, assessing numbers to the US Treasury's remaining stake in General Motors. After stock sales in February and another a few months later, the Fed is still the owner of 14 percent of GM, totaling 189 million shares, and is $18.1 billion in the hole after the $49.5 billion loan to the automaker. Although the share price has risen more t
Elon Musk is talking about maybe forming a holding that would own stock in both of the companies he's incredibly busy with these days – Tesla Motors Inc. and Space Exploration Technologies Corp. (SpaceX) – basically to simplify his life. "No actual plans under way," he said. "[It] gets unwieldy to have lots of companies with me as the only connection." The holding company may own public shares of both California-based companies. Tesla Motors went public in 2010, and Musk is looking a