Musk out as Tesla chair, remains CEO in $40M SEC settlement

SAN FRANCISCO (AP) – Tesla and its CEO Elon Musk have agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company.

The settlement with the Securities and Exchange Commission allows Musk to remain CEO of the electric car company but requires him to relinquish his role as chairman for at least three years.

Tesla must hire an independent chairman to oversee the company, something that should please a number of shareholders who have criticized Tesla’s board for being too beholden to Musk.

The deal was announced Saturday, just two days after SEC filed its case seeking to oust Musk as CEO.

Musk, who has an estimated $20 billion fortune, and Tesla, a company that ended June with $2.2 billion in cash, each are paying $20 million to resolve the case, which stemmed from a tweet Musk sent on Aug. 7 indicating he had the financing in place to take Tesla private at a price of $420 per share.

“A reckless tweet cost a lot of money – the $20-million tweet,” said Michelle Krebs, executive analyst at Autotrader.

The deal could remove one cloud that hangs over Tesla. Investors fretted about the company’s ability to cope without Musk, a charismatic entrepreneur whose penchant for coming up with revolutionary ideas has drawn comparisons to one of Silicon Valley’s most revered visionaries, Apple co-founder Steve Jobs.

Tesla’s stock plummeted 14 percent Friday after the SEC filed its lawsuit, erasing more than $7 billion in shareholder wealth. Many analysts predicted the shares were bound to fall even further if Musk had been forced to step down. Tesla’s stock has dropped 30 percent since Aug. 7, closing Friday at $264.77.

The steep downturn in Tesla’s market value may have influenced Musk to have an apparent change of heart and negotiate a settlement. Musk had rejected a similar settlement offer before the SEC sued Thursday, maintaining he had done nothing wrong when he posted a tweet declaring that he had secured the financing to lead a buyout of Tesla.

The SEC alleged Musk wasn’t close to locking up the estimated $25 billion to $50 billion needed to pull off the buyout.

Musk and Tesla reached their settlement without admitting to or denying the SEC’s allegations.

The resolution “is in the best interests of our markets and our investors, including the shareholders of Tesla,” SEC Chairman Jay Clayton said in a statement.

A Tesla spokeswoman said the company and Musk had no comment Saturday.

Besides paying a fine and stripping Musk of his chairman’s title, Tesla also must appoint two more directors who have no ties to the company or its management. Musk will be allowed to remain on the board.

The company also must clamp down on Musk’s communications with investors, a requirement that might make its colorful CEO’s Twitter posts slightly less interesting.

“Considering the drastic punishment the SEC had announced, Musk and Tesla got lucky,” said Krebs, the Autotrader analyst. “Musk at least remains at the helm of the company, and adding a couple of board members is a good thing.”

The SEC also got what it wanted by bringing the combative Musk down a notch and taking steps to tone down his off-the-cuff remarks while forcing Tesla to expand its board to counterbalance its CEO’s power, said Carl Tobias, a law professor at the University of Richmond. Besides being CEO, Musk owns a roughly 20 percent stake in Tesla.

“Maybe this will make Musk stop acting so crazy and fly right,” Tobias said.

Besides tweeting about a deal that the SEC alleged he didn’t have money to pay for, Musk had been engaging in other erratic behavior that had been raising questions about whether he should remain CEO.

Musk had raised hackles by ridiculing stock market analysts for posing fairly standard questions about Tesla’s shaky finances, and calling a diver who helped rescue 12 boys on a Thai soccer team from a flooded cave a pedophile, triggering a defamation lawsuit. He was also recently caught on a widely circulated video apparently smoking marijuana , a legal drug in Tesla’s home state of California.

The erratic behavior has convinced more analysts that Tesla needs to find a replacement for Musk, but the SEC settlement will allow the company to do so on its own timetable, if it decides to hire a new leader.

Tesla is also under mounting pressure to overcome its past manufacturing problems and produce enough vehicles to become consistently profitable after years of huge losses.

A gauge of the company’s progress should come within the next few days when Tesla is expected to release its vehicle production numbers for the July-September period.

Musk has pledged Tesla would manufacture an average of 7,000 vehicles per week, enough to turn a profit.

Tesla needs to turn the financial corner because it has $1.3 billion in debt coming due during the next six months. If it keeps burning through its cash, Tesla will likely have to raise more money to pay its bills – something that analysts say will be easier to do without any lingering doubt who will be running the company.

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This Is What Happens When You Drink Water Right After You Get Out Of Bed –


The current health trend is drinking water as soon as you get out of bed. The medical value of this health trend has been scientifically confirmed to be completely beneficial to our health.

Drinking water when waking up has been connected to prevention and curing of certain ailments and disease such as body aches, heart problems, epilepsy, headaches, arthritis, diabetes, constipation,obesity, tuberculosis, meningitis, kidney disease, vomiting, uterine disease, gastritis,ear and throat disease.

  1. As soon as you wake up, before even doing anything else, consume four 6 ounce glasses of water. But remember if for any reason you cannot consume this amount of water at one time, you should start with as much as you can and slowly increase the amount.
  2. After brushing your teeth and performing your morning hygiene routine, wait for 45 minutes before drinking or eating anything.

After 45 minutes, eat breakfast as usual, and then do not drink or eat anything in the next 2 hours.

Specific diseases that can be cured with this method

The research shows that if using the above method, the number of days the regimen must be followed to cure each disease is:

  • Cancer-180 days
  • Diabetes- 30 days
  • Constipation- 10 days
  • Gastric Problems- 10 days
  • High blood Pressure- 30 days

The good thing about using this treatment method is that besides the increased urination at the beginning of the program it has no side effects. Drinking water and staying active and healthy are the secrets for a longer and better life.

Both the Japanese and Chinese consume hot tea with their meals instead of cold water. Cold water solidifies the oily foods you have just eaten and slows down the digestive process. Once these solidified oils reach andthe reaction with the stomach acid begins, it is absorbed more quickly by the intestine and the intestinal wall. The long-term accumulation of these digested oils can lead to cancer. The Western cultures must adopt this practice as there is nothing to lose and everything to gain.

Source : 

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San Juan Mayor Carmen Yulín Cruz to co-chair Bernie Sanders 2020 campaign

By Suzanne Gamboa

Mayor Carmen Yulín Cruz of San Juan, an adversary of President Donald Trump, has signed on to be one of four national co-chairs of Sen. Bernie Sanders’ 2020 presidential campaign.

Her commitment to Sanders, the Vermont independent who announced his presidential bid on Tuesday, comes as the Democratic field is growing and competition for high-profile supporters is intensifying.

Cruz told NBC News in a telephone interview Thursday that she has working relationships with several of the senators who are running or may run. But she has been working with Sanders since 2016, “looking for a path for Puerto Rico.”

“A lot of the things he’s been fighting for all his life I’ve been fighting for all my life,” Cruz said. “Things like let’s not put wealth before health.”

She also named Sanders’ efforts on education, collective bargaining, the rights of people in the LGBTQ and transgender communities, and other issues.

She said he has had a long commitment to being in the forefront of structural changes, even when they were not popular.

“Right now the United States has a president in the White House who is not up to the job,” Cruz said. “He does not represent values of integrity and unity, values of inclusion.”

With Sen. Elizabeth Warren of Massachusetts, another Democratic presidential candidate, Sanders co-sponsored legislation to wipe out the island’s $73 billion debt that it still grapples with today.

Sanders also introduced a $146 billion Puerto Rico recovery plan. Neither bill made it out of committee.

Nonetheless, Cruz said in a statement that Sanders would offer “a new path toward the resolution of many of the issues facing Puerto Rico,” including a “new relationship” with the United States.

“In our darkest hour, he was there for us, not because it was politically convenient but because it was the right thing to do,” Cruz stated.

Cruz vaulted to national attention when she criticized the Trump administration’s slow response to the 2017 hurricane.

Puerto Ricans on the island cannot vote in the general election, despite being U.S. citizens, but are able to vote in the primaries. Island residents who move to the mainland can vote in primaries and general elections once they register to vote in their state.

“This is personal. The president came and threw paper towels at us,” Cruz said. “He continues to disregard the pain of people from Puerto Rico.”

Sanders’ support from Cruz, a high-profile Latina, could help him with minority communities.

Sanders struggled in his 2016 campaign to win black voters. Latinos divided generationally in the 2016 primary, with younger Latinos backing Sanders.

Along with Cruz, Sanders also named Ohio state Sen. Nina Turner; U.S. Rep. Ro Khanna, D-Calif.; and Ben & Jerry’s co-founder Ben Cohen as national co-chairs.

Cruz said not to expect to see her talking only to Latino groups and Turner only to African-Americans. There won’t be any “walls that keep us in our corner because that will be ineffective,” she said.

Cruz said she had conversations with other campaigns. Former Housing and Urban Development Secretary Julián Castro made Puerto Rico his first stop after announcing his presidential bid. Cruz walked him through a neighborhood, La Playita, still recovering from the hurricane and showed him initiatives taken to help residents prepare for the next storm.

“I think he, Julián, went into this for the right reasons,” Cruz said. “But again, I have a long-standing relationship with the senator and Bernie has a long-standing relationship with causes that touch the Latino community.”

Suzanne Gamboa is a national reporter for NBC Latino and

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Woman in vegetative state for 14 years gives birth in hospital bed; authorities investigate likely sexual assault – Crime Online

A woman who has been in a vegetative state for 14 years has given birth at an Arizona nursery, prompting an investigation. reports that a patient at Hacienda HealthCare in Phoenix unexpectedly went into labor and gave birth on December 29. The woman has been in a vegetative state since a near-drowning incident at least 14 years ago, and authorities are now investigating a likely possibility that she was raped.

A source with knowledge of the incident spoke with on the condition of anonymity, telling a reporter that staff at the nursing facility had no idea she was pregnant until the patient, who has no ability to communicate, went into labor. A nurse attending her at the time reportedly delivered the baby, a healthy girl.

“None of the staff were aware that she was pregnant until she was pretty much giving birth,” the unidentified woman told the news station.

Asked how staff realized the woman was pregnant, the source said, “From what I’ve been told she was moaning. And they didn’t know what was wrong with her.”

The source said the multiple staff members had access to the patient, who requires round-the-clock care due to her condition. The source added that since the birth, the nursing facility has implemented a new protocol that prohibits male staffers from attending to the patient without a female employee present.

But authorities are still working to determine how the woman became pregnant, and are investigating the likelihood that she was raped at some time in the spring or summer of 2018.

The Arizona Department of Health Services released a statement about the incident, obtained by

“We are aware of this situation and are actively working with local law enforcement in their criminal investigation. Upon learning of the allegation, Arizona Department of Health Services (ADHS) immediately initiated an onsite complaint investigation to ensure the health and safety of the patients and ensure the facility is in compliance with all state laws and regulations. During this time, the agency has required heightened safety measures be implemented at the facility including increased staff presence during patient interactions, increased monitoring of the patient care areas, and increased security measures with respect to visitors at the facility.”

This is a developing story. CrimeOnline will provide further updates when more information is available.

[Feature image: Pixabay]

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20+ Creative DIY Furniture Hacks

Repurposing old furniture into something that is not only practical but also unique and modern is the ultimate way to recycle. With a little bit of creativity, there are so many clever ways to use broken appliances, old furniture, or even everyday household items. What once was garbage (ready to fill the landfill), can be turned into unique home decor instead. Check out these unique and easy DIY furniture hacks to get inspired!

Easy DIY furniture makeovers and ideas! A lot of repurposed thrift store projects and chalk paint ideas so that you can do it for cheap. Before and after photos of dressers, tables, shelves, tv stands and more! For bedrooms and living rooms.

1. Dining Room Chair Bench

Instead of tossing those old or broken dining room chairs, turn them into a cozy indoor or outdoor bench. I can’t think of a better way to repurpose dated furniture! The paint alone gives them a fresh new look. Go get the details and instructions here.

How to turn chairs into a bench. -- Easy DIY furniture makeovers and ideas! A lot of repurposed thrift store projects and chalk paint ideas so that you can do it for cheap. Before and after photos of dressers, tables, shelves, tv stands and more! For bedrooms and living rooms.

2. File Cabinet To Garage Storage

I think just about everyone has had one of these metal file cabinets at some point– dents and all! Take out the drawers and turn that huge hunk of metal onto its side to create garage storage space for your brooms, rakes, shovels, and much more! Even the sides have gotten a makeover with peg boards for other miscellaneous garage items. Go check out the details here.

Turn an old file cabinet into garage storage! -- Easy DIY furniture makeovers and ideas! A lot of repurposed thrift store projects and chalk paint ideas so that you can do it for cheap. Before and after photos of dressers, tables, shelves, tv stands and more! For bedrooms and living rooms.

3. Kids’ Craft Table From A Crib

My daughter would love this! Turn an old crib into something useful like a craft table by simply removing one side, painting the “table top” with chalk board paint, and installing a few hooks for supplies. Check out the full details and instructions over at A Little Learning For Two.

refurbish a crib into a craft table for the kids! -Easy DIY furniture makeovers and ideas! A lot of repurposed thrift store projects and chalk paint ideas so that you can do it for cheap. Before and after photos of dressers, tables, shelves, tv stands and more! For bedrooms and living rooms.

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Camp Loft Bed with Stair, Junior Height – DIY Projects

Loft bed plans with stairs. Junior height loft bed plans free from


PLAN UPDATE: I have revised step 1 of this plan to increase the safety of the platform, so there is no more than a 3″ gap between the stair rungs. If you have built this bed, you can simply add another “rung” to the stair part to increase the safety at the platform area.

Before we get to a plan, I simply must warn you. 

Do not build this bed if you want any of the following to happen:

Your kids to play independently in their room for hours and hours and hours …  if you build this bed, you will see your kids 30-40% less …

Do NOT build this bed if you want your kids to take a nap, all by themselves … It’s like a protected nest up there, with rails on all sides, and easy access with stairs.  They just climb up there and go to sleep.  No snuggling required.

If you build this bed, you will miss out on lots of smiles and laughter and pretend play.  And when you come try to join in, they will start giggling and say, Mom!  Leave us alone, we’re playing horses!  Or store or house or pretending the stair platform is a stage.

The only reason I built this bed was because the room is so tiny (8×8 with small closet) it was very difficult for the kids to play, and then put their things away in a space the size of a short hallway.  We’d done a loft bed years ago, but the loft bed was only accessible by children, and there was no where for guests to sleep in our house.

So we needed a loft bed WITH STAIRS that is sturdy and easy to access in a TINY room.  With the window right there, I just didn’t know how to make it work.  And then one day, I realized that the stairs do NOT need to go all the way up to the bed.  They only need to go up about 18″ to 24″ (normal height of kids mattress above floor) below the mattress.  

The window was previously the obstacle in the way of building stairs.  Now it’s entertainment for the kids as they watch the chickens run around the back yard.

Under the bed, no storage is lost.  I’ve been debating adding some custom sized rolling toy bins but the giant canvas bag is doing fine holding pillows, blankets and stuffed animals.

It is no exaggeration to say they play in their ALL DAY.  I’m considering making a felt curtain for the front too …

The best part about this bed is how easy and inexpensive it is to make.  That’s all 2x4s and 2x6s (I’ll share my finishing technique with you later this week) bringing the total cost of lumber up to about $50!!!  

And I don’t know how easy this bed was to build personally, all I can say is I printed off the plans and handed them to the Ram and Grandpa Tim and said, I’ll be out after I finish my post.  Two hours later I headed out to the garage and the bed was DONE!  

14 – 2×4 @ 8 feet long
4 – 2×6 @ 8 feet long
2 – 2×2 @ 8 feet long
1 – 1×2 @ 8 feet long
2 ½” PH screws

Please read through the entire plan and all comments before beginning this project. It is also advisable to review the Getting Started Section. Take all necessary precautions to build safely and smartly. Work on a clean level surface, free of imperfections or debris. Always use straight boards. Check for square after each step. Always predrill holes before attaching with screws. Use glue with finish nails for a stronger hold. Wipe excess glue off bare wood for stained projects, as dried glue will not take stain. Be safe, have fun, and ask for help if you need it. Good luck!

Dimensions shown above. Fits twin.

4 – 2×4 @ 65 ½”
2 – 2×6 @ 37 ½”
5 – 2×4 @ 37 ½”
4 – 2×4 @ 75”
2 – 2×6 @ 75”
2 – 2×2 @ 75”
2 – 2×4 @ 30 ½”
2 – 2×4 @ 37 ½”
1 – 2×4 @ 41 ½”
2 – 2×4 @ 20 ½”
12 – 2×4 @ 22”
2 – 2×6 @ 43” (both ends cut 45 degrees off square, ends NOT parallel) – to be trimmed down in later steps
6 – 1×2 @ 7 ¾” (both ends cut at 45 degrees off square
6 – 2×4 @ 20 ½”

Build the ladder end as shown in diagram with 1 1/2″ PHs and 2 1/2″ PH screws. Use glue to fasten – these joints are permanent.

If you are building this loft bed without the stair platform, add 2x4s all the way down to make a “ladder” for the kids to climb up.

Build front end of loft bed same as ladder end.

Now here’s where we skip the glue. To make this loft bed easy to disassemble, I did not use glue here. The inside width for the mattress area should be 39″, insetting the side rails 1 1/4″ from outsides. I did this so your PH screws have lots of board to grab into.

This bed has NOT been weight tested or guaranteed. If you feel you need extra support – add metal brackets under the 2x6s.

An alternative method is to attach metal bed brackets directly to the ends if you have those.

Notice the cleat is added in this step to. I used 2 1/2″ screws and glue to attach, screws every 6-8″ all the way down.

This bed is designed to work with a bunkie board, but we just used 2x6s cut to length as the bed slats.

Now we’ll start building the stair platform for the loft bed with stairs.

Build the floor framing section and attach to the floor legs. I recommend 1 1/2″ PHs and 2 1/2″ PH screws and glue here.

And then the decking is placed on top of the stair platform.

The stairs are easy to build – just 45 degree angles! We went ahead and drilled 1 1/2″ PHs along top edge of the stairs to connect the stairs to the bed later on.

Then we added the stair treads. We also drilled 1 1/2″ PHs along ends of the stair treads and attached with 2 1/2″ PH screws just for extra strength. Everything gets glued.

The bed was finished outside and then assembled in the room.

TIP: We haven’t found our bed needs it, but for extra support, you could add another 2×4 @ 75″ (at $2 a 2×4, cheap insurance) to the base of the bed to further support the bottoms.

Preparation Instructions: 

Fill all holes with wood filler and let dry. Apply additional coats of wood filler as needed. When wood filler is completely dry, sand the project in the direction of the wood grain with 120 grit sandpaper. Vacuum sanded project to remove sanding residue. Remove all sanding residue on work surfaces as well. Wipe project clean with damp cloth. It is always recommended to apply a test coat on a hidden area or scrap piece to ensure color evenness and adhesion. Use primer or wood conditioner as needed.

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Is there enough clearance to put another twin bed coming straight out underneath this? Hope that makes sense.

Ana White replied on Permalink

Hi Candace, there would be room, but I’d suggest making the legs a tad longer for a little more headroom. This bed is really a junior loft bed height.

You could just leave the platform at the same height, or add another tread to the stairs.

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I really like this bed, just one question though, it doesnt seem clear to me, what does the mattress sit on, wood slats, plywood, or is this planned for a box spring mattress on the bottom?

Ana White replied on Permalink

Hi Andrew, what we did for the wood slats is cut 2x6s (had scraps, but you could also use 2x4s or even 1x material – just space closer together) to the inside dimension of the bed (for us it ended up being 39 1/2″) and screwing down. We have a firm mattress and found spacing every 6″ was fine, but every mattress is different so space your slats as necessary for your mattress.

They also sell what is called a bunkie board and also sell bunkie board mattresses – or mattresses with an included bunkie board.


I was thinking that was the idea, but wanted to make sure I wasnt missing something. Thank you !


This is a great plan. I was planning to do the one with stair storage, but with parallel rails instead of perpendicular ones. I should easily be able to wrap it up in a few hours with this plan. Also, have you thought about adding a shelf or two under the mid platform to add some storage space. I think I may add that and use some cloth boxes to make a small dresser/storage area.


I was going to the lumber yard to get the materials to make my daughter the fort bed TODAY, then I saw this was just posted. I love the sturdiness of the 2x4s and the overall look. I am nervous that with the stair landing it will be too long for the space. Do you think I could meld the two together and basically make this bed but build in the ladder in the same side fashion as the fort bed? Her room would be better suited to the side ladder verses just building up the ladder on the end, though that would be tremendously easier. I’ve never built anything like this before but your detailed plans definitely make me feel like I can tackle this job.

Ana this just might top the clubhouse bed, love how Grace can play underneath in her new ‘fort’ just like my kids do under the clubhouse bed. Who knew we were making another playspace AND a cool bed all in one. Love your design, you truly are a building genius.