1. Tesla’s Stock Soars on 3Q Profit Blowout
Tesla Inc. blew away expectations with just the third quarter of positive earnings in its history, bolstering Elon Musk’s bid to make selling electric cars a financially sustainable business. “It is the most encouraging sign of sustainable profitability that we’ve seen in three years,” said Gene Munster, a managing partner at venture capital firm Loup Ventures. “Tesla did all of this despite the distractions around Elon himself, and the positive report reverses some of the damage that’s been done.” The shares surged as much as 11% to $311.3300.
2. More Scandal at Wells Fargo
It seems that the financial service provider cannot escape scandal. In the past, the bank lost much of its credibility because they were making phantom accounts in order to improve their reputation. On Wednesday, at the request of the federal Office of the Comptroller of the Currency, two senior executives were suspended; David Julian and chief administrative officer, Hope A. Hardison. Ironically, Hardison had been one of the executives in charge of cleaning up nefarious activity at the bank. American Banker, a trade newspaper, ranked her No. 10 on a list of women to watch in banking last month. Guessing she might drop a few notches. CEO Tim Sloan stated: “We remain steadfast in our focus on making things right for customers and building a better Wells Fargo.” We just sent Tim a copy of What Happens in Vegas Stays on YouTube.
3. Google Launches Educational Program
Google has announced a new “digital-citizenship” education program for being safe online. The main topic of discussion? How kids/teens can be more safe online and in the digital landscape. This program plans to team up with the National Parent Teacher Association to reach over 5M children in schools. But the question that remains is: Is Google really the best to teach these lessons? Like Facebook and Twitter, Google has sometimes struggled in the past with numerous privacy issues along with censorship issues. We’ll see if they want to pass out copies of our What Happens on Campus Stays on YouTube books during these sessions (#shameless plug). Google might be getting back to its roots of its founding mantra “Do No Evil.”