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Tesla Model S burns in Seattle
Thu, 03 Oct 2013A Tesla Model S crashed and burned on Tuesday morning in Seattle. The electric-vehicle manufacturer told Bloomberg that the Model S “collided with a large metallic object in the middle of the road, causing significant damage to the vehicle.” More specifically, the object struck the Tesla's battery. The report worried investors, and Tesla stock fell 6.2 percent on Wednesday.
Elon Musk says NYT story cost Tesla $100 million
Mon, 25 Feb 2013Tesla CEO Elon Musk told Bloomberg TV on Monday that the recent negative New York Times review of the Model S sedan decreased the company's stock-market value by as much as $100 million. The NYT-Tesla saga began on Feb. 8 with reviewer John Broder recounting the tale of how he was stranded when the Model S didn't live up to its 300-mile claimed range.
Marchionne's dilemma: To sell or not to sell Alfa to Volkswagen?
Wed, 01 Dec 2010Fiat CEO Sergio Marchionne's self-confidence has helped him tackle problems that lesser executives would duck, but he may have met his match. In a public test of Marchionne's faith in his own turnaround strategy, in September Volkswagen Chairman Ferdinand Piech bluntly announced that he wants to buy Alfa Romeo. Piech was suggesting that VW--and only VW--could transform Fiat's perennial money-losing brand into a real moneymaker.