Economics/Class Relations

Clock’s Ticking for Elon Musk

Nicholas Carlson October 25, 2022

 

Hello! You know what I’m excited about today? Bonds. Just like the stock market, bonds have been having a bad year. But that could be turning around as a recession looms. And as I read this morning on Insider, one chief investment officer overseeing $9 billion says it’s possible to lock in a 6% return right now in a “win-win” situation — read how.

But now, let’s get started.

The latest
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The big story
Patrick Pleul/Getty Images; Vicky Leta/Insider
Elon Musk has only four days to close his deal with Twitter — or face a trial. 

 

Earlier this month, the judge overseeing the court case gave the Tesla CEO and Twitter until 5 p.m. ET on Friday, October 28 to agree to a new deal — or Twitter will resume efforts to force Musk to buy the company for $44 billion in a November trial.

 

Experts say a deal is likely to be reached beforehand. “He knows that he has no way out of it and would like to avoid public humiliation,” one law professor told Insider. But even if the two parties don’t come to an agreement, they could continue to negotiate as litigation resumes and a trial date is scheduled.

 

And if the trial were to proceed? Musk would face a lengthy deposition — and could see even more of his private texts released to the public.

 

Should all this end with Musk atop the Twitter throne, insiders expect chaos to ensue at the company. Massive cuts are expected, which Twitter staffers say would be “insane.”

The clock is ticking for Elon Musk.

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Today’s sound bite
“We always want the quick fix: ‘I’m gonna take my medicine every day and things will be fine.’ What we found is: it doesn’t work like that for everyone.”
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Today’s team
Nicholas Carlson (@nichcarlson), Hallam Bullock (@hallam_bullock), Lisa Ryan (@lisarya), and Shona Ghosh (@shonaghosh).
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