Tag Archives: CEO

President Biden said something completely obvious on Feb. 8 — and it was big news for one of America’s most innovative companies. During an otherwise unremarkable address on domestic manufacturing, Biden referred to Tesla (TSLA) as “our nation’s largest electric vehicle maker.” This is unmistakably true, and nobody disputes it. But up till now, Biden has pushed aggressively for more electric vehicle manufacturing without ever acknowledging that Tesla already produces close to 1… Source link

The LinkedIn posts of departing Peloton employees (and those people in the industry willing to help them) are piling up on Tuesday, one comes from the former CEO of Precor. Peloton spent $420 million to buy commercial fitness giant Precor in December 2020 as it sought to build out production capacity to support its then views of strong future demand. It stands as the company’s largest acquisition in its history. The acquisition gave Peloton 625,000 square feet of U.S. manufacturing capacity… Source link

Peloton (PTON) will look to a hardcore numbers man with major cred on Wall Street to stabilize its ship. The company will appoint Barry McCarthy as CEO, replacing founder and CEO John Foley who will move into the executive chairman role the company said on Tuesday. Peloton will also slash 2,800 jobs as it seeks to better align costs with slowing demand for its connected bikes. Peloton said it aims to achieve $800 million in cost savings while also slashing capital expenditures by $150 million… Source link

PALO ALTO — Former Yahoo CEO Marissa Mayer wants to add to her expansive estate by demolishing three adjacent homes she owns to build a swimming pool and pool house that could cost almost $1.6 million. But so far, Palo Alto planning officials have said no, pointing out that a pool doesn’t warrant removing homes from the city’s housing stock. Like other cities in the Bay Area, Palo Alto is under intense pressure by the state to produce thousands of additional homes to chip away at a… Source link

Feeling down that bitcoin prices are well off their all-time highs? Don’t be, says bitcoin bull and MicroStrategy CEO Michael Saylor. “My time horizon is a decade or more,” Saylor said on Yahoo Finance Live. And Saylor is putting his money where his mouth is on bitcoin. MicroStrategy disclosed this week it purchased 660 bitcoin for about $25 million between Dec. 30, 2021 and Jan. 31, 2022. The average price per coin tallied $37,865. The company now holds 125,051 bitcoins valued at about $4.8… Source link

Bitcoin bull Michael Saylor says Meta should have stayed around longer in the crypto space. “The mistake [they made] was not getting into the crypto space. They wasted many, many years of their time with the project they invested in,” the MicroStrategy CEO and founder said on Yahoo Finance Live. This week, Diem — Facebook’s one-time crypto venture — said it sold its assets and intellectual property to crypto bank Silvergate Capital. Sale price: $182 million. The sale effectively ends… Source link

On Tuesday, Google announced its earnings for the final quarter of 2021. Like many of its tech brethren, it was a very good quarter. Google reported record revenue of $75 million, most of which came from the company’s advertising business.  In fact, Google’s advertising business is so good that the company loses money on everything else, but still managed to post one of the most profitable quarters of any company, ever. For the three months ending in December, Google made almost $21 billion… Source link

A new form of NFTs is attempting to radically change the way we buy tickets for live events. Josh Katz is the CEO of YellowHeart, a blockchain live event ticketing platform based in New York City. Katz joined Yahoo Finance Live to discuss NFT tickets on Monday. In essence, NFTs (non-fungible tokens) are allowing tickets to now be a direct link between the artists or performers and the fans. Whereas previous online ticket sales usually took place between a third party responsible for… Source link

Ask Ford CEO and resident car super fan Jim Farley who he sees as his biggest competitors in the electric vehicle race, the answer isn’t fierce hometown rival General Motors.  In fact, Farley won’t say specifically the Model T creator has worthy competitors in EVs. Rather, Farley acknowledges “admiring” two EV players in particular.  “Well, the companies that I think about that I admire because of their commitment — and frankly, the hard work they did to earn their reputation — are… Source link

Ford CEO Jim Farley is keen on seeing President Joe Biden’s stalled Build Back Better bill passed in an effort to boost electric vehicle adoption in the United States. “It’s mission critical for the EV industry,” Farley said on Yahoo Finance Live.  As it stands now, the Build Back Better (BBB) bill would offer credits of up to $12,500 for consumers if they purchase an electric vehicle. The bill would also aid in the development of more public charging stations.  Both aspects of the bill are… Source link