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The big automotive news is that Elon Musk's Tesla reported record earnings of $438 million for the past quarter. This translates to 93 cents per share on $10.39 billion in revenue. Tesla did this despite a semiconductor chip shortage that is hobbling other car companies like Ford, which had to slash vehicle production at seven plants in North America.Some see this as proving investors right to give Tesla stock a nosebleed price-to-earnings ratio of nearly 1,700, and thus making Musk the second richest person alive if not the richest. Our betters also preach that the stock market portends the future....

The world’s wealthiest people are also the most mobile.High net worth individuals (HNWIs) – persons with wealth over US$1 million – may decide to pick up and move for a number of reasons. In some cases they are attracted by jurisdictions with more favorable tax laws, or less pollution and crime. Sometimes, they’re simply looking for a change of scenery.Today’s graphic, using data from the annual Global Wealth Migration Review, maps the migration of the world’s millionaires, and clearly shows which countries are magnets for the world’s rich, and which countries are seeing a wealth exodus.The Flight of the...

Money may be growing tight for four Republican presidential hopefuls clustered under Donald Trump and Ted Cruz - just when they're about to need it the most. Financial reports coming out Sunday will show who began the year with enough cash to put their long-range campaign plans into motion. For Chris Christie, Jeb Bush and John Kasich, the aim is a strong showing in New Hampshire on Feb. 9 that power-boosts them deep into primary season. Marco Rubio's imperative is to do well enough in the first four states to vote that he can make a sustained climb in the...

The U.S. oil production decline has begun. It is not because of decreased rig count. It is because cash flow at current oil prices is too low to complete most wells being drilled. The implications are profound. Production will decline by several hundred thousand barrels per day before the effect of reduced rig count is fully seen. Unless oil prices rebound above $75 or $85 per barrel, the rig count won’t matter because there will not be enough money to complete more wells than are being completed today. Tight oil production in the Eagle Ford, Bakken and Permian basin plays...

Foes of same-sex marriage are laboring to pay the tab for an epic legal case now before the U.S. Supreme Court, as the movement suffers from fundraising shortfalls that could sap its strength in future battles. ProtectMarriage dot com, the advocacy group defending a California gay marriage ban now under review by the high court, showed a $2 million deficit in its legal fund at the end of 2011 - the third year in a row that expenses exceeded donations, federal tax records show.... "Unless the pace of donations starts to pick up right away, we could soon be forced...

State Controller John Chiang released yesterday a monthly report comparing the state's financial situation in July 2009 to the same month last year. Here are some key figures from the report: General Fund revenue in July 2009 dropped $365 million (-8.0%) from July 2008. Through July, the state had $4.4 billion in receipts and $9.4 billion in disbursements on the books. The state issued $1.493 billion in I.O.U.s in the month of July. Personal income taxes came in $335 million below (-11.5%) last July. Corporate taxes in July were $18.9 million (9.1%) higher than last July. Sales taxes in July...

Companies Reset Goals for Bonuses By JONATHAN D. GLATER When executives have a tough time meeting their performance goals, a growing number of companies are moving the goalposts for them. Instead of paying bonuses to top executives when revenue or profits rise — less and less likely in this dark economy — companies have disclosed plans to offer awards based on other measures of success. A bonus may be more attainable if based, say, on preserving cash flow. Xerox has dropped revenue growth as a factor in determining bonuses for its executives, the company disclosed recently in regulatory filings. The...

AUSTIN - Advisory committees are being developed to provide public input on where the Trans-Texas Corridor should be located and what it should look like. The committees will enhance public involvement during on-going Trans-Texas Corridor environmental studies and provide guidance on how the corridor can be developed to best serve local communities. “Through the advisory committees, local officials and citizens can be more involved in the planning process than ever before,” said Ted Houghton, member of the Texas Transportation Commission. “They will have a huge say in shaping the Trans-Texas Corridor.” The Texas Transportation Commission today approved rules establishing the...

<p>California Treasurer Phil Angelides -- who fought the sale of $15 billion in deficit-reduction bonds but now must persuade investors to buy them -- on Wednesday laid out an ambitious timetable for getting part of the deal to market.</p> <p>Although voters agreed on Tuesday to borrow up to $15 billion by selling bonds, Angelides says the entire amount “will not all be sold in one fell swoop because of the size of it.” He will stagger the sale so “we won’t saturate the marketplace.”</p>

<p>Now, I am not claiming that the economy is fixed. It's not. And there are, obviously, challenges ahead if a full recovery is going to occur. It's undeniable, however, that most companies are posting significantly improved results. Not only can millions of hard-working people celebrate -- they should. They've earned the right. That's why we can't rain all over their efforts -- their motivation and innovative spirit and can-do attitudes. Those good feelings, as any economist will tell you, are key drivers of company productivity and consumer confidence. The fact is a recovery will be a lot harder if we keep saying "but" about damn good news.</p>

<p>SACRAMENTO(AP) - State Controller Kathleen Connell urged lawmakers on Monday to quickly act on $10.2 billion in proposed midyear cuts, warning that the state's cash flow could run dry otherwise.</p> <p>Connell said the state may have to take out short-term loans - called revenue anticipation warrants - for the second consecutive year to help the state pay its bills.</p>

Search For Excite | Lite | Email | Help Symbol(s):Find Symbol Tip: You can enter multiplesymbols. (ex DELL EMC) Money Home My Money Portfolio Markets News Research Top Business * Markets * Analyst News * Technology News * IPO * Press Releases * By Industry Airlines Face Losses Over $2 Billion Saturday April 13, 12:30 PM EDT By Patrick Markey NEW YORK (Reuters) - Wall Street expects major U.S. airlines to report more than $2 billion in first-quarter losses next week even as the aviation industry steadily recovers from the weak economy and the steep travel slump that followed...