Tesla Inc.’s (TSLA) CEO billionaire Elon Musk said he filed a lawsuit against Almeda County claiming its coronavirus-related orders prevent the electric vehicle maker from resuming operations at its main plant in California.“Tesla is filing a lawsuit against Alameda County immediately,” Musk said in a Twitter (TWTR) post on Saturday. “The unelected & ignorant “Interim Health Officer” of Alameda is acting contrary to the Governor, the President, our Constitutional freedoms & just plain common sense!”Musk made the comments in reaction to Alameda County’s interim public health officer’s assertion that health orders to contain the coronavirus outbreak in the region were still in place. This in turn meant that Tesla was not able to resume vehicle production at its main U.S. car plant in Fremont, California yet. The U.S. electric automaker was planning to restart production on Friday afternoon.“We will continue to put people back to work in a safe and responsible...
The US Department of Health has now announced the allocation plan for Gilead’s (GILD) Covid-19 treatment remdesivir, revealing that states rather than federal government will be in charge of distribution.The donated doses of the treatment, which received an Emergency Use Authorization (EUA) from the FDA on May 1, will be used to treat hospitalized COVID-19 patients in areas of the country hardest hit by the pandemic.Gilead plans to supply 607,000 vials of the experimental drug over the next six weeks to treat an estimated 78,000 hospitalized COVID-19 patients. The donation to the US is part of 1.5 million vials of remdesivir the company is donating worldwide.Beginning on May 7, the process began to deliver cases of the drug to Connecticut (30 cases), Illinois (140 cases), Iowa (10 cases), Maryland (30 cases), Michigan (40 cases) and New Jersey (110 cases). Each case contains 40 vials of the donated drug.“State health departments will...
Musk has been pushing to re-open Tesla's Fremont, California, factory after Alameda County's health department said the carmaker must not reopen because local lockdown measures to curb the spread of the coronavirus remain in effect. Tesla filed a lawsuit against the county on Saturday, calling the continued restrictions a "power-grab" by the county since California's governor had said on Thursday that manufacturers in the state would be allowed to reopen....
* This weekend's Barron's shows how to prepare for the resumption of bank mergers. * Other featured articles offer tips for finding value in real estate stocks and what stocks to buy as Warren Buffett sits on the sidelines. * Also, the prospects for a gambling stock, stay-at-home picks and more.Carleton English points out that low interest rates and high technology costs are pushing smaller banks into the arms of bigger ones. What's that mean for Regions Financial Corp (NYSE: RF) and many others? Read on in "Bank M&A Will Resume Postcrisis. How to Prepare."Lawrence C. Strauss's "A Stock to Bet on a Recovery in Gambling" shows why Boyd Gaming Corporation (NYSE: BYD) faces the same near-term hurdles as most gambling companies, but is helped by a geographically diversified portfolio and sufficient financial flexibility.In "Where to Find Value in Real Estate Stocks," Daren Fonda suggests that beaten-down real estate stocks, from...
