US Flights Cut as Shutdown Drags On; Musk's $1T Tesla Pay Package Approved

7 snips

Nov 7, 2025

Airlines are scrambling as the longest U.S. government shutdown leads to over 700 flight cancellations, raising safety concerns amid staffing shortages. Meanwhile, Tesla's shareholders have approved a groundbreaking $1 trillion compensation package for Elon Musk, paving the way for him to potentially become the world's first trillionaire. The company is also shifting its focus from electric vehicles to ambitious robotics and AI projects under Musk's leadership. The challenges facing U.S.-China trade relations add to the day's economic uncertainties.

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INSIGHT

Shutdown Slashes U.S. Flight Capacity

The government shutdown forced the Transportation Department to cut 10% of flight capacity across 40 major airports.
About 700 flights were canceled at the four largest airlines as staffing strains hit the U.S. aviation system.

INSIGHT

Political Scrutiny Over Flight Reductions

Democrats demanded FAA transparency to ensure flight cuts aren’t politically motivated.
Republicans defended reductions as necessary for safety amid staffing shortages caused by the shutdown.

INSIGHT

Trillion-Dollar Pay Tied To Big Milestones

Tesla shareholders approved a $1 trillion pay package for Elon Musk with over 75% support.
The package ties payouts to aggressive valuation and operational milestones over the next decade.

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On today's podcast:
1) Airlines across the US have started canceling flights scheduled for the coming days, as the longest government shutdown in history upends air travel and leaves thousands of passengers scrambling to firm up plans. With about 700 Friday flights already canceled by the four largest airlines, the world’s busiest aviation market has become a flashpoint in the long-simmering clash between Republicans and Democrats over federal funding as President Trump ramps up pressure to forge a deal. The Republican-led administration has said the reductions are necessary to keep flying safe amid staffing shortages brought on by the shutdown. At least one top congressional Democrat has called for more transparency to ensure the move isn’t politically motivated.
2) Tesla Inc. shareholders approved a $1 trillion compensation package for Chief Executive Officer Elon Musk, the largest payout ever awarded to a corporate leader. More than 75% of the votes cast were in favor of the unprecedented pay plan, the company said Thursday at its annual meeting. The outcome caps a weekslong campaign by the electric vehicle maker’s board, its CEO and prominent retail investors to build support. The pay agreement clears a path for Musk, the world’s richest person, to become the first-ever trillionaire and expand his stake in Tesla to 25% or more over the next decade. To achieve the full payout, he’ll have to deliver on targets to significantly expand Tesla’s market value, revive its flagging car business and get the fledgling robotaxi and Optimus robotics efforts off the ground.
3) China’s exports unexpectedly contracted in October as global demand failed to offset the deepening slump in shipments to the US, dealing a blow to an economy already slowing amid sluggish consumer spending and investment at home. Exports fell for the first time in eight months, dropping 1.1% from a year earlier, according to official data released Friday. Shipments to all nations except the US rose 3.1%, not enough to compensate for the more than 25% decline to America. Chinese exports have been resilient until now, as other destinations made up for drops in shipments across the Pacific Ocean. Sales abroad had grown every month since February, when activity slowed because of the Lunar New Year holiday.

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