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...It went on to say that it made sense for Tesla to incorporate in the Lone Star State because “Tesla is all-in on Texas” because Tesla is “intertwined with our Texas corporate headquarters.”...
...After 87 per cent voted in favour, Musk said he “will move immediately to hold a shareholder vote to transfer state of incorporation to Texas”....
...New York, Ohio, Pennsylvania, Texas and Virginia — that was later narrowed to five, then finally to two: Delaware and Texas....
...Over a bottle of vodka at 10am on a weekday, he and the famed Texas trial lawyer Joe Jamail agreed to a $3bn settlement to end a legal fight between Texaco and Pennzoil....
...And for all of the histrionics of Musk, there is not even a hint that other big public companies are set to abscond to Texas, Nevada or any other state....
...operating costs,” Chhugani wrote....
...If it happens, Tesla will be five times bigger than all the Texas-incorporated Russell 3000 stocks put together, FTAlphaville’s Bryce Elder adds.)...
...“Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas,” Musk wrote on his social media platform X. Good, fine, whatever....
...If my engineering pod fails to return its cost of capital, I can’t sell it — I’d have to lay them off. That comes with a financial cost but more importantly a human and organisational cost....
...Independent venues are closing and touring costs are rising. Streaming revenue barely covers a round of drinks in a Camden pub....
...Buyout firms are shaving tens of millions of dollars off interest costs by refinancing debts racked up in private credit markets with publicly traded bonds and loans, delivering a windfall for the Wall Street...
...The success of BlackRock and Fidelity in drawing in billions of dollars may rely largely on a small army of day traders and a bunch of quants. What’s your take?...
...A study released last month by a non-profit associated with the Texas Chamber of Commerce found that the laws could undermine the state’s efforts to foster a pro-business climate and cost the state $37.1mn...
...“If we assume founders and managers have an incentive to minimise their cost of capital, they will prefer to incorporate in a state that ensures investor protection,” said Stephen Bainbridge, a corporate...
...He added that an informal poll he had earlier held on such a shift was “unequivocally in favour of Texas”....
...They pinpoint lingering problems at the $45bn expansion of the Tengiz oilfield in Kazakhstan, which has faced repeated delays and cost overruns....
...More news on the cost of climate change is on the agenda for this week. We will keep you posted in Friday’s newsletter....
...share gains, especially as the legacy Western OEMs have struggled mightily on cost....
...by moving SpaceX to Texas (FT) Cambridge-led coalition of universities threatens banks over fossil fuel financing (FT) JPMorgan and State Street quit climate group as BlackRock scales back (FT) Start-ups...
...Profits much above Uber’s cost of capital, on this argument, seem unlikely to ever materialise. Yes, there has been a lot of talk about how Uber is profitable now, and even generates free cash flow....
...The poll asked: “Should Tesla change its state of incorporation to Texas, home of its physical headquarters?”...
...“Investors previously focused on Tesla’s EV volume and cost advantage will potentially throw in the towel and eventually be replaced by AI/tech investors with longer time horizons.”...
...Much of that is attributed to its pivot to EVs....
...Under the deal announced on Tuesday, CRH will acquire a 2.1mn tonne capacity cement plant between San Antonio and Austin, a network of terminals along the eastern gulf coast of Texas and a portfolio of 20...
...It said the benefit came out to 267mn of the 304mn shares that Musk had earned — the difference reflecting the cost to him of exercising the options....
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