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Top Stories: June 29, 2010Home Invasion Rattles Neighbors; Pink Slips Go to Police, Fire; Time Running Out for Google in Chinaby Danny Wool on Jun 29, 2010
Tesla Motors Goes Public Tesla Motors released its IPO today, the first for a domestic car manufacturer since Ford went public back in 1956. The company hopes to bring in $226 million from the 13.3 million shares in this initial offering, which will help take them to the next level of development. Although Tesla has not yet earned a profit, the electric car manufacturer already has a partnership with Daimler in place, and Toyota has begun investing in them too. While the company’s Roadster, selling at over $100,000, is too pricy for the average buyer, Tesla is pinning its hopes on the new Model S, which will sell for under $50,000. About 2,200 people already have a Model S on order, even though the company will only begin manufacturing them in 2012. To celebrate the IPO, a Model S prototype will be displayed alongside a Roadster in Times Square today. Read More at The Mercury News. Mayor Send Mixed Message to Police, Firefighters City Council has only one item on the agenda for its weekly meeting today. It will be voting on the final draft of the annual budget, which tackles the $118 million deficit. Yet even as the deadline approaches, Mayor Chuck Reed is adopting a conciliatory tone with the powerful police and firefighters unions. The city has gone beyond threatening to lay off dozens of police and firefighters, and has already sent out layoff notices to them, effective August 1. On the other hand, he has also informed them that the August 1 deadline is not set in stone, and if a deal can be reached with the unions even after that date, the city will be prepared to rehire laid off workers. It remains to be seen if the powerful police and firefighters unions will take the bait. Read More at KLIV. iPhone Stats Good News for Apple Apple stock shot up $1.52 per share (0.6 percent) on Monday, thanks to the launch of the new iPhone 4. Demand was so high that even the most well-stocked stores ran out within hours, forcing unhappy crowds to wait another day and brave another line before they could get their hands on the phone. In just three days, Apple sold 1.7 million new phones, and that is before all the potential markets were tapped. The release was limited to the U.S., France, Germany, the UK, and Japan, and it was limited to the black model only. Canadians and color conscious people who prefer white will have to wait, in the latter case, till the end of July. The extended release, along with the new white model, could shoot Apple’s stock up again. Hopefully by then, Steve Jobs and friends will solve the wifi deficiency dilemma by then. Perhaps help could come through an executive order signed by President Obama on Monday, doubling the airwave space for highspeed wireless internet traffic, Read More at NBC Bay Area. Home Invasion Rattles Nerves Having your home robbed always leaves people with a sense of being violated. Nothing is more disturbing though than having your home robbed at gunpoint, while you are forced to watch. That is what a Willow Glen family experienced early Monday morning. A gang of masked robbers, numbering between six and ten people, walked into their home at 5:00 am, tied up the family, including their two young children, and made off with laptops and other electronic equipment. None of the family members was injured, but they—and their neighbors—are still traumatized by the incident. Read More at ABC 7. Google Seeks China Compromise Google has less than 24 hours to resolve its conflict with the Chinese authorities. On Wednesday, the internet search giant’s license to operate in the PRC is set to expire, and Chinese officials have hinted that they may not renew their license. The dispute revolves around Google’s refusal to censor search results that the Chinese authorities find offensive. Google has refused and moved its operations to Hong Kong, where censorship restrictions are more lax. Until now, its Google.cn domain redirected to the Google.hk domain. This, however, was hardly enough for the Chinese authorities, so Google is adopting a new tactic. Its .cn website now has a notice saying that Google.cn has relocated to Hong Kong, before redirecting users there. The Chinese government has yet to reveal whether this solution satisfies their concerns, but they are in no hurry. The longer they wait, the more they keep Google’s feet to the fire. Read More at the Business Journal. by Danny Wool on Jun 29, 2010 |
 Tesla's Model S hopes to bring electronic vehicles to the slighty-more-common man. |
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