Martin Tripp, the former Tesla worker who has been embroiled in a bitter legal battle with CEO Elon Musk for over two years, was ordered to pay his former employer $400,000 after admitting to leaking confidential information to a reporter.
The settlement is intended to bring an end to one of the more sordid stories at Tesla, in which Tripp, a former process technician, locked horns with the billionaire CEO over allegations that Tesla was wasting a “jaw-dropping” amount of raw material as it ramped up production of the Model 3 sedan.
Musk later accused Tripp of “sabotage” and personally ordered investigators to hack Tripp’s phone and spy on his messages. Tesla even misled local police about a potential mass shooting by Tripp at the company’s Nevada factory.
But in the end, Tripp came out on the losing side. The payment is part of a proposed settlement to a lawsuit filed by Tesla in 2018 alleging that Tripp hacked the electric car company’s system and transferred “gigabytes” of data to third parties. As part of the agreement, Tripp admitted to violating laws related to trade secrets and computer crimes when he told a Business Insider reporter that Tesla was wasting a significant amount of raw materials during production of its Model 3.
Tripp also agreed to pay $25,000 to Tesla for continuing to reveal information about the company, despite being ordered to stop by a judge. Tripp had been publishing a large number of documents and videos online, including many under a confidentiality order in the case. In August, Tripp fired his lawyers and set about representing himself in the case. It was also revealed that a Tesla short seller, The Funicular Fund, was financing Tripp’s legal defense.
Earlier this year, a judge dismissed Tripp’s defamation case against Tesla, in which the former technician accused the company of spreading false rumors about him. After Tripp filed for whistleblower status with the Securities and Exchange Commission, Musk emailed a reporter at The Guardian telling them a tipster had contacted Tesla to say that Tripp might “come back and shoot people,” at the Nevada Gigafactory. The local sheriff determined the threat was not real, but Tesla issued a press release, which was picked up by several media outlets.
WestJet cancels Boeing 737 MAX flight moments before takeoff | Venture – Daily Hive
WestJet cancelled a Boeing 737 MAX flight after it had already left its gate at Calgary International Airport on January 22.
A spokesperson for the airline confirmed to Daily Hive that WestJet flight WS658, which was supposed to travel to Toronto, had to return to its gate after push off on Friday morning.
“After a normal engine start, a standard function of the health monitoring system indicated a potential fault that needed to be verified and reset,” said Lauren Stewart, a media relations manager at WestJet.
“This process takes time and requires a subsequent engine run, which we do not perform with guests on board.”
The flight, as well as its Toronto to Calgary return, were cancelled in the interest of passenger’s time. Guests were rebooked on the next available flight.
Stewart stressed that the decision to cancel the flight was only made because there was space on a Toronto-bound Dreamliner flight.
Had passengers not already been on their way, the WS658 flight would have operated as normal following the all-clear by a maintenance team, she said. The plane has since been inspected and will return to operation on January 24.
“There was no safety risk to our guests and this was unrelated to any previous matter,” Stewart said.
In March 2019, Transport Canada grounded Boeing 737 MAX planes across the country following a pair of deadly crashes that killed 346 people.
How to Succeed When Buying a Franchise Store and Financing Its Cost
It’s a road you want to go down successfully. We’re talking about your decision on buying a franchise in Canada, financing the franchise cost, and being successful in the franchise store or business you have chosen.
Clients always ask us if it’s ‘ risky ‘ to buy a franchise. Our answer is somewhat facetious, in that if a franchise fails, we prefer to have someone to blame – that’s you, the franchisor, or your franchise lender. It’s rarely the lender, leaving you and the franchisor.
The reality is quite frankly the same as if you were acquiring any business, namely, Do your homework! And invest some time in solid due diligence. Make a good decision about who you are going to do business with.
After selecting a franchise opportunity the challenge of financing the business becomes even more bewildering to some of our clients. Let’s share some solid tips, info, and suggestions around the successful financing of your franchise cost.
We often focus solely on your financing challenge when buying a franchise; we should add that it’s just as important to spend some time on understanding the general financing situation around the partnership you are about to enter into with your franchisor. Disclosure documents these days are fairly heavily weighted towards you as the franchisee understanding that you are entering into business with, so we encourage all clients to take a strong look at your franchisors profitability, its financial management, and any items of public record that might hint or portend of future problems.
Unfortunately many franchisees we talk to about franchise cost and how we will finance the franchise are under the misconception that there is 100% financing available for your new business. In Canada that is pretty well never the case, and you need to make a strong assessment of the maximum amount you can contribute to the venture from a personal equity basis. If you borrow too much and put too little in the financial folks call that being ‘ over-leveraged’- therefore any little bumps in the economy or your ability to generate sales becomes a huge problem if you aren’t properly capitalized.
And we already know your next question, which is ‘ how much do I have to put in ‘. We would prefer to give you a clear final answer on that one, such as xx %, but the reality is that your investment is tied to a couple of factors… the size of the financing you require, how you will finance it, and whether initial ratio analysis will show that you meet all qualifications.
A ratio is just a ‘ relationship’ of numbers. The two key ratios that you need to focus on in franchise financing are debt to equity and working capital. Typically you want to have only two times more debt than your investment in the business, and from a working capital point of view, you want to ensure you have liquid assets to cover at a minimum short-term payable.
Do franchisors offer loan assistance – the answer is yes… and no. By that, we mean simply that many franchisors have developed relationships with Canadian business financing advisors who assist franchisees in finalizing all aspects of the franchise cost financing – including business plan preparation, negotiations, sourcing debt, etc. You should rarely if ever, expect the franchisor to supply direct loan financing assistance – they are selling franchises, not building a financial empire.
In Canada typical methods of financing, a franchise are a BIL loan, a working capital term loan, and equipment leasing and financing.
Speak to a trusted, credible, and experienced business financing advisor who will work with you to successfully finance your franchise store in a minimum amount of time with a maximum amount of success!
Three deaths, 216 new COVID-19 cases identified in Manitoba – CTV News Winnipeg
The province announced three new deaths linked to COVID-19 Saturday, the same day restrictions were eased across most of the province.
A man in his 60s died, along with two women; one in her 70s, the other in her 80s. They were all from the Winnipeg health region, according to the provincial COVID-19 bulletin.
Public health officials recorded 216 new infections, with more than half in the province’s north.
Of the new cases, 118 are in the Northern health region, 50 in the Winnipeg health region, 22 in Interlake-Eastern, 14 in Southern health and 12 in Prairie Mountain Health.
The five-day test positivity rate is 9.8 per cent in Manitoba and 6.5 per cent in Winnipeg.
There are 272 people in hospital, with 40 in the ICU.
The number of Manitobans who have died of COVID-19 now stands at 798.
According to the bulletin, 1,836 tests were done Friday, bringing the total number since February 2020 to 463,084.
The Manitoba government released the update as new public health orders came into effect.
Retailers can sell non-essential items again, hair salons and barber shops can open and Manitobans are allowed to have two designated visitors to their households.
The new orders do not apply to northern Manitoba, where cases have jumped over the past few weeks.
The province also began accepting appointments Saturday for a pilot testing site in Winnipeg, which is dedicated to educational staff.
Manitoba teachers, educational support staff and others working in schools or with students can now book appointments for rapid testing at the Fast Pass site at 1066 Nairn Avenue.
“Eligible clients must be symptomatic, identified as a close contact because of an exposure at school or have a symptomatic household member,” reads the bulletin.
Appointments can be made here.
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