Elon Musk Keeps Getting Sued & How Shrek's Music Can Make You $$$
Oct 6, 2023
29:15
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Elon Musk's legal battles, including his Twitter acquisition and self-driving car incident. 20 million car recall and $1300 check for every Alaskan. Stock and dog of the week. Michelin's hotel rankings. The Powerball prize isn't as much as you think. Buying shares in Shrek's music royalties. Investment appeal of music royalties and cyber attacks impacting stocks.
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Quick takeaways
Elon Musk is facing multiple legal battles, including a probe by the SEC regarding his acquisition of Twitter.
Clorox recently suffered a major cyber attack, leading to a quarterly revenue decline of up to 26% and a 5-year low in stock prices.
The Michelin Guide has expanded into the hotel industry by ranking 'most exceptional hotels', raising concerns about potential conflicts of interest in its rankings.
Deep dives
Elon Musk's Legal Woes: SEC Probe and Lawsuits
Elon Musk is facing legal troubles on multiple fronts, including a probe by the SEC regarding his acquisition of Twitter. The SEC is concerned about Elon's public disclosures, especially his tweets, during the acquisition. Elon has already testified twice to the SEC, and his refusal to testify again has led to a court request. Besides the SEC probe, Elon is involved in various lawsuits, including trademark infringement, unpaid employee settlements, libel accusations, and a trial involving Tesla's autopilot feature. The continuous legal battles have put significant pressure on Musk and his companies.
Clorox Hit by Cyber Attack, Anticipates Revenue Decline
Clorox recently suffered a major cyber attack that has adversely impacted its business. The company expects a quarterly revenue decline of up to 26% and a shift from projected profit to a loss. Clorox's stock has been on a steady decline, reaching a 5-year low due to the attack. The cyber attack, which came to light due to a new SEC reporting requirement, highlights the increasing prevalence of cyber attacks and their potential financial and reputational consequences for companies.
Michelin Guide Expands to Hotel Rankings, Introduces Keys
The Michelin Guide, renowned for its restaurant rankings, is expanding into the hotel industry. Michelin recently announced its new designation of the 'most exceptional hotels' with Michelin Keys. This expansion is a result of Michelin's acquisition of Tablet Hotels, a luxury hotel booking website, five years ago. By entering the hotel rankings market, Michelin aims to drive traffic to Tablet Hotels and leverage the anticipated growth of the global travel industry. However, Michelin has faced scrutiny regarding potential ethical concerns and potential conflicts of interest in its restaurant and hotel rankings.
The Powerball jackpot has reached $1.4 billion, making it the seventh-largest lottery prize in history. Billion-dollar jackpots have become more common, with this being the eighth billion-dollar jackpot this year alone. The inflation of jackpots can be attributed to multiple factors, such as higher ticket prices, increased number of number combinations, and interest rate hikes. While billion-dollar jackpots may not generate the same excitement as before, they still garner attention from hopeful participants.
Alaska's Permanent Fund Dividend: A Divisive Stimulus Check
Alaska's Permanent Fund Dividend, a stimulus check given to almost every resident, has become a divisive component of the state's economy. The dividend, funded by the state's oil wealth, has been distributed since 1982. It has sparked debates regarding its impact on other important programs, like education and childcare. Critics argue that investing resources in building a robust economy and creating job opportunities should take precedence over distributing the dividend. However, the check remains a cultural and political tool, influencing election promises and consumer spending.
Episode 164: Toby and Neal explain the lawsuits that Elon Musk has found himself in this week, including ones about his Twitter acquisition and a self-driving car incident. Plus, why almost 20 million cars are being recalled and nearly every Alaskan is getting a $1300 check for oil. The guys also share their stock and dog of the week and Michelin will now be ranking hotels. And finally why this billion $$$ Powerball prize isn't as much as you think.