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nuckin_futz

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Everything posted by nuckin_futz

  1. Elon Musk had twins last year with one of his top executives, Insider says July 7 (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk and Shivon Zilis, a top executive at his brain-chip startup Neuralink, had twins in November 2021, Insider reported. In April, Musk and Zilis filed a petition to change the name of the twins to "have their father's last name" and contain their mother's last name as part of their middle name, Insider said on Wednesday, citing court documents. A court docket summary on the Westlaw legal research service showed a judge signed an "Order Changing the Names Of Multiple Children" on May 11 after the name change petition from Musk and Zilis made on April 25 this year. On Thursday, Musk tweeted, "Doing my best to help the underpopulation crisis." He did not refer to the Insider report. "A collapsing birth rate is the biggest danger civilization faces by far," he said. The twins bring Musk's total count of children to nine. Musk shares two children with Canadian singer Grimes, and another five children with his ex-wife Canadian author Justine Wilson. Musk and Grimes welcomed their second child via surrogate in December, a month after Musk and Zilis reportedly had twins. ******************************* 9 kids, seems the only thing he knows how to pull out of are mergers and acquisitions.
  2. Elon Musk will attempt to terminate his agreement to buy Twitter This will be an interesting one Elon Musk has filed a report with the SEC saying he has terminated his pursuit of Twitter. Yesterday the Washington Post reported that Elon Musk had "stopped engaging in certain discussions around funding for the $44 billion deal" and that the deal was in serious jeopardy, so this news isn't out of the blue. Twitter shares were down 5.35% on the report today and closed at $34.84 -- far below the $54.20 agreement. For more than a month, there have been signs that Musk has a bad case of buyer's remorse. What's far less clear is that he will be able to walk away from the deal. He accused Twitter of being "in material breach of multiple provisions" of the merger agreement. "Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect (as that term is defined in the Merger Agreement)" However he signed an agreement to complete a purchase of Twitter. It wasn't an agreement to think about buying Twitter and the social media company has said it will enforce the deal. Delaware courts, where this will be adjudicated, have been consistent in ruling that the bar for breaking a merger agreement is extraordinarily high. Musk has said the bot count is too high but Twitter this week released a presentation saying it was below 5%. Legal expert say that even if it was 20% it will be tough to argue it's a material adverse clause. Moreover, unless Musk already has conclusive evidence of fraud, he won't be getting any further information from the company. This is what he claims he asked for but didn't receive: "Mr. Musk is entitled, under Section 6.4 of the Merger Agreement to “all information concerning the business … of the Company … for any reasonable business purpose related to the consummation of the transactions” and under Section 6.11 of the Merger Agreement, to information “reasonably requested” in connection with his efforts to secure the debt financing necessary to consummate the transaction. To that end, Mr. Musk requested on June 17 a variety of board materials, including a working, bottoms-up financial model for 2022, a budget for 2022, an updated draft plan or budget, and a working copy of Goldman Sachs’ valuation model underlying its fairness opinion. Twitter has provided only a pdf copy of Goldman Sachs’ final Board presentation." What could be interesting is that if politics comes into play. Texas' attorney general announced on June 6 it will investigate Twitter for potentially misleading on bots. That looks like an out-and-out case of corruption after Musk moved his company to Texas and considering that Texas is not a regulator of Twitter nor is it located there. If a judge rules against Musk he would owe enormous damages to Twitter, including the difference between the merger price and trading price, plus potential damages. Given that Musk may now go on offense on the very platform he was intending to buy, he could dig himself a hole (if he hasn't already). Some have argued Twitter should kick Musk off the platform but their best revenge may be to leave him on there. His social media presence has been divisive and I believe it's increasingly eroding the Tesla brand. In any case, buckle up. This will be a better ride that the Model S Plaid. Here are some details of accusations: Specifically, in the Merger Agreement, Twitter represented that no documents that Twitter filed with the U.S. Securities and Exchange Commission since January 1, 2022, included any “untrue statement of a material fact” (Section 4.6(a)). Twitter has repeatedly made statements in such filings regarding the portion of its mDAUs that are false or spam, including statements that: “We have performed an internal review of a sample of accounts and estimate that the average of false or spam accounts during the first quarter of 2022 represented fewer than 5% of our mDAU during the quarter,” and “After we determine an account is spam, malicious automation, or fake, we stop counting it in our mDAU, or other related metrics.” Mr. Musk relied on this representation in the Merger Agreement (and Twitter’s numerous public statements regarding false and spam accounts in its publicly filed SEC documents) when agreeing to enter into the Merger Agreement. Mr. Musk has the right to seek rescission of the Merger Agreement in the event these material representations are determined to be false. Although Twitter has not yet provided complete information to Mr. Musk that would enable him to do a complete and comprehensive review of spam and fake accounts on Twitter’s platform, he has been able to partially and preliminarily analyze the accuracy of Twitter’s disclosure regarding its mDAU. While this analysis remains ongoing, all indications suggest that several of Twitter’s public disclosures regarding its mDAUs are either false or materially misleading. First, although Twitter has consistently represented in securities filings that “fewer than 5%” of its mDAU are false or spam accounts, based on the information provided by Twitter to date, it appears that Twitter is dramatically understating the proportion of spam and false accounts represented in its mDAU count. Preliminary analysis by Mr. Musk’s advisors of the information provided by Twitter to date causes Mr. Musk to strongly believe that the proportion of false and spam accounts included in the reported mDAU count is wildly higher than 5%. Second, Twitter’s disclosure that it ceases to count fake or spam users in its mDAU when it determines that those users are fake appears to be false. Instead, we understand, based on Twitter’s representations during a June 30, 2022 call with us, that Twitter includes accounts that have been suspended—and thus are known to be fake or spam—in its quarterly mDAU count even when it is aware that the suspended accounts were included in mDAU for that quarter. Last, Twitter has represented that it is “continually seeking to improve our ability to estimate the total number of spam accounts and eliminate them from the calculation of our mDAU…” But, Twitter’s process for calculating its mDAU, and the percentage of mDAU comprised of non-monetizable spam accounts, appears to be arbitrary and ad hoc. Disclosing that Twitter has a reasoned process for calculating mDAU when the opposite is true would be false and misleading. What's going to hurt his own case that is that as early as May 13, he said he was putting the deal on hold -- less than three weeks after the April 25 agreement.
  3. Yup, this idiot again. ..... Elon Musk says he's terminating $44B Twitter buyout deal Elon Musk’s tumultuous $44 billion bid to buy Twitter is on the verge of collapse — after the Tesla CEO sent a letter to Twitter's board Friday saying he is terminating the acquisition. Twitter did not immediately respond to a message for comment. It is not entirely clear whether Twitter's board will accept the $1 billion breakup fee or if there will be a court battle over the deal. The possible unraveling of the deal is just the latest twist in a saga between the world’s richest man and one of the most influential social media platforms. Much of the drama has played out on Twitter, with Musk — who has more than 95 million followers — lamenting that the company was failing to live up to its potential as a platform for free speech. On Friday, shares of Twitter fell 5% to $36.81, well below the $54.20 that Musk had offered to pay. Shares of Tesla, meanwhile, climbed 2.5% to $752.29. In a letter to the Securities and Exchange Commission, Musk said Twitter has “not complied with its contractual obligations” surrounding the deal, namely giving Musk enough information to “make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform.” Musk’s flirtation with buying Twitter appeared to begin in late March. That’s when Twitter has said he contacted members of its board — including co-founder Jack Dorsey — and told them he was buying up shares of the company and interested in either joining the board, taking Twitter private or starting a competitor. Then, on April 4, he revealed in a regulatory filing that he had became the company’s largest shareholder after acquiring a 9% stake worth about $3 billion. At first, Twitter offered Musk a seat on its board. But six days later, Twitter CEO Parag Agrawal tweeted that Musk will not be joining the board after all. His bid to buy the company came together quickly after that. Musk had agreed to buy Twitter for $54.20 per share, inserting a “420” marijuana reference into his offer price. He sold roughly $8.5 billion worth of shares in Tesla to help fund the purchase, then strengthened his commitments of more than $7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison. Inside Twitter, Musk’s offer was met with confusion and falling morale, especially after Musk publicly criticized one of Twitter’s top lawyers involved in content-moderation decisions. As Twitter executives prepared for the deal to move forward, the company instituted a hiring freeze, halted discretionary spending and fired two top managers. The San Francisco company has also been laying off staff, most recently part of its talent acquisition team. ******************************** Prepare to be sued for breach of contract. Good luck Mr Musk.
  4. Shinzo Abe: Japan ex-leader's alleged killer held grudge against group - police Police investigating the assassination of Japan's ex-prime minister Shinzo Abe have said the suspect held a grudge against a "specific organisation". The alleged gunman, named as Tetsuya Yamagami, 41, believed Abe was part of the group and shot him for that reason, they said, without naming the group. Abe died in hospital on Friday morning after being shot while speaking at a political campaign event. Tetsuya Yamagami has admitted shooting him with a homemade gun, police said. Abe was Japan's longest-serving prime minister and his death at the age of 67 has profoundly shocked a country where gun crime is very rare. Prime Minister Fumio Kishida said he was "simply speechless" at the news of Abe's death, vowing that Japan's democracy would "never yield to violence". Police are still investigating whether his killer acted alone and why Abe was targeted out of other people related to the unnamed organisation. Gunman made no attempt to flee Abe was giving a speech for a political candidate at a road junction in the southern city of Nara when the attacker struck from behind. Witnesses described a man carrying a large gun move within a few metres of Abe and fire twice at the former PM, who fell to the ground as bystanders screamed in shock and disbelief. Photos circulating in the aftermath of the shooting showed the suspect standing just behind Abe as he gave his speech. Security officers dived on to the gunman who made no attempt to run after he fired on Abe. The weapon that killed the politician was made using metal and wood, officers said, and appeared to be wrapped in duct tape. Several other handmade guns and explosives were later found at the suspect's home. Abe suffered two bullet wounds to his neck during the attack and also suffered damage to his heart. He was said to be conscious and responsive in the minutes after the attack, but doctors said no vital signs were detected by the time the former prime minister was transferred for treatment. Medics worked for hours to save him and Abe received more than 100 units of blood in transfusions, before he was pronounced dead at 5.03pm local time (0803 GMT) More in the link https://www.bbc.com/news/world-asia-62098100
  5. As little respect as I have for Drunken Thief. I do respect the fact that he waited until the day after they did that horrible Kassian deal to announce this.
  6. Japan ex-leader Shinzo Abe assassinated while giving speech In this image from a video, Japan’s former Prime Minister Shinzo Abe, center, is attended on the ground in Nara, western Japan Friday, July 8, 2022. Abe was shot and critically wounded during a campaign speech Friday. He was airlifted to a hospital but officials said he was not breathing and his heart had stopped. (Kyodo News via AP) NARA, Japan (AP) — Former Japanese Prime Minister Shinzo Abe, a divisive arch-conservative and one of his nation's most powerful and influential figures, has died after being shot during a campaign speech Friday in western Japan, hospital officials said. Abe, 67, was shot from behind minutes after he started his speech in Nara. He was airlifted to a hospital for emergency treatment but was not breathing and his heart had stopped. He was later pronounced dead despite emergency treatment that included massive blood transfusions, hospital officials said. Police arrested the suspected gunman at the scene of an attack that shocked many in Japan, which is one of the world’s safest nations and has some of the strictest gun control laws anywhere. Prime Minister Fumio Kishida and his Cabinet ministers hastily returned to Tokyo from campaign events around the country after the shooting, which he called “dastardly and barbaric." Nara Medical University emergency department chief Hidetada Fukushima said Abe suffered major damage to his heart in addition to two neck wounds that damaged an artery, causing extensive bleeding. He was in a state of cardio and pulmonary arrest when he arrived at the hospital and never regained his vital signs, Fukushima said. Abe was Japan’s longest-serving leader before stepping down in 2020. Public television NHK aired a dramatic video of Abe giving a speech outside a train station in the western city of Nara. He is standing, dressed in a navy blue suit, raising his fist, when two gunshots are heard. The video then shows Abe collapsed on the street, with security guards running toward him. He holds his chest, his shirt smeared with blood. In the next moment, security guards leap on top of a man in gray shirt who lies face down on the pavement. A double-barreled device that appeared to be a handmade gun is seen on the ground. Nara prefectural police confirmed the arrest of Tetsuya Yamagami, 41, on suspicion of attempted murder. NHK reported that the suspect served in the Maritime Self-Defense Force for three years in the 2000s. Other videos from the scene showed campaign officials surrounding Abe. The former leader was still highly influential in the governing Liberal Democratic Party and headed its largest faction, Seiwakai. Elections for Japan's upper house, the less powerful chamber of its parliament, are Sunday. “I use the harshest words to condemn (the act),” Kishida said as he struggled to control his emotions. He said thegovernment planned to review the security situation, but added that Abe had the highest protection. Opposition leaders condemned the attack as a challenge to Japan’s democracy. In Tokyo, people stopped on the street to grab extra editions of newspapers or watch TV coverage of the shooting. When he resigned as prime minister, Abe said he had a recurrence of the ulcerative colitis he'd had since he was a teenager. He told reporters at the time that it was “gut wrenching” to leave many of his goals unfinished. He spoke of his failure to resolve the issue of Japanese abducted years ago by North Korea, a territorial dispute with Russia and a revision of Japan’s war-renouncing constitution. That last goal was a big reason he was such a divisive figure. His ultra-nationalism riled the Koreas and China, and his push to create what he saw as a more normal defense posture angered many Japanese. Abe failed to achieve his cherished goal of formally rewriting the U.S.-drafted pacifist constitution because of poor public support. Loyalists said that his legacy was a stronger U.S.-Japan relationship that was meant to bolster Japan’s defense capability. But Abe made enemies by forcing his defense goals and other contentious issues through parliament, despite strong public opposition. randfather, former Prime Minister Nobusuke Kishi. His political rhetoric often focused on making Japan a “normal” and “beautiful” nation with a stronger military and bigger role in international affairs. Many foreign officials expressed shock over the shooting. Abe said he was proud of working while leader for a stronger Japan-U.S. security alliance and shepherding the first visit by a serving U.S. president to the atom-bombed city of Hiroshima. He also helped Tokyo gain the right to host the 2020 Olympics by pledging that a disaster at the Fukushima nuclear plant was “under control” when it was not. Abe became Japan’s youngest prime minister in 2006, at age 52, but his overly nationalistic first stint abruptly ended a year later, also because of his health. The end of Abe’s scandal-laden first stint as prime minister was the beginning of six years of annual leadership change, remembered as an era of “revolving door” politics that lacked stability and long-term policies. When he returned to office in 2012, Abe vowed to revitalize the nation and get its economy out of its deflationary doldrums with his “Abenomics” formula, which combines fiscal stimulus, monetary easing and structural reforms. He won six national elections and built a rock-solid grip on power, bolstering Japan’s defense role and capability and its security alliance with the U.S. He also stepped up patriotic education at schools and raised Japan’s international profile. ******************** Definitely a very strange headline out of a country like Japan. He hadn't been Prime Minister in nearly 2 years having resigned in Sept 2020 due to a resurgence of Ulcerative colitis
  7. Yeah and we haven't even traded JT yet.
  8. Haven't heard this in a long time. Never a huge fan but I liked some of their early stuff. ....
  9. They're just not the same without Steve Clark.
  10. My cousin had KISS 'Dynasty'. I was real young but the faces and the makeup on the cover enthralled me. I begged my parents to get it for me for my bday and they did. I still remember going to Woolco to get it. LOL Was my first record (cassette actually). The big hit on it was "I was made for loving you" but there was some good rockers on there too. I know the entire record note for note.
  11. Depends on many factors. What are you thinking of buying? What is your appetite for risk? What is your time frame? etc. In this type of environment I like things that pay a dividend. It's always nice getting paid to wait.
  12. First half performance in 2022: Apple: -23% Microsoft: -24% Alphabet: -25% Amazon: -35% Tesla: -35% Zoom: -40% Airbnb: -45% Pinterest: -49% Nvidia: -50% Uber: -50% Meta: -53% Bitcoin: -60% PayPal: -62% Etsy: -64% Netflix: -70% Snap: -72% Ether: -73% Shopify: -74% Coinbase: -80%
  13. Absolutely love this song. Here's Matt Good taking a crack at it. ....
  14. Talked to my aunt. She said she was in the Starbucks across the street with a friend when it happened. Just confirmed what was known. Cops running this way and that and a hail of gunfire.
  15. In the late 90's my sister, brother in law and myself went on a tour of the Napa Valley. We stopped at Mondavi Winery and Robert Mondavi happened to be in the Tasting Room. I can honestly say I don't think I have met a bigger prick in all my life. lol
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