Tesla Motors Repays $465M Government Loan 9 Years Early
Tesla Motors announced today it has completely repaid the $465 million loan from the U.S. Department of Energy the company received in 2010. The funds were generated by Tesla through a recent sale of their stock, worth close to a billion dollars. The stock price had risen sharply after the company reported its first profitable quarter (and the stock still sits roughly 50% higher than before their earnings release). Today's payment of $451.8 million finished off both the loan's principal and its interest, nine years before the final payment was due. Tesla CEO Elon Musk said, 'I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American taxpayer from whom these funds originate. I hope we did you proud.'
Sen. Rand Paul Is Mostly Right In Defending Apple's Obligation To Minimize Taxes
"It's absurd for Congress to vilify businesses like Apple for wanting to minimize their tax code just like every other American rightly does," tweeted uber-Libertarian Senator Rand Paul, lashing out at his Senate colleagues for 'dragging' Apple CEO Tim Cook in to defend his company's tax policies. On the eve of Cook's much-hyped testimony, a Senate investigation released a scathing report, accusing Apple of cooking the books and engaging in shady tax-dodging practices, to avoid repatriating $102 billion in offshore cash to avoid a 35 percent U.S. tax rate.
Paul's Call To Abolish the TSA, One Year Later
A year ago today, we noted that Sen. Rand Paul of Kentucky called for the abolition of the Transportation Security Administration. It's now nearly 12 years since the hijacked-plane terror attacks of 2001; the TSA was created barely two months later, and has been (with various rules, procedures, and equipment, all of it controversial for reasons of privacy, safety, and efficacy) a major presence ever since at American commercial airports. "The American people shouldn't be subjected to harassment, groping, and other public humiliation simply to board an airplane," wrote Paul last year, and in June of 2012, he followed up by introducing two bills on the topic; the first calling for a "bill of rights" for air travelers, the other for privatizing airport screening practices. Neither bill went far. Should they have? Libertarian-leaning Paul did not succeed in knocking back the TSA, never mind privatizing its functions (currently funded at nearly $8 billion annually), though some of the things ...
Tesco to Pay Dearly to Leave United States
The British chain, which grossly misjudged American consumer habits, said it would cost $1.8 billion to quit the U.S. market.
American Realty Capital offers to buy Cole Credit trust
Real estate investment trust American Realty Capital Properties Inc said it offered to buy unlisted Cole Credit Property Trust III Inc for $5.7 billion in cash and stock to create the largest publicly traded REIT in the net lease sector.
Found more than 1 month ago on channel Reuters