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Elon Musk's latest big idea is daring even by his standards: He wants to turn Tesla into a private company.He stunned investors on Tuesday with a tweet saying he had already lined up the funding, and he told employees that it would relieve the electric car company of the "enormous pressure" of Wall Street's expectations.In a letter to Tesla workers that was posted on the company's blog, Musk called his idea the "best path forward.""As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders," he wrote.He also said trading its stock publicly "means that there are large numbers of people who have the incentive to attack the company." Musk has complained repeatedly about short-sellers, who profit when Tesla stock drops.Musk, the CEO and largest shareholder, said on Twitter that the private funding valued Tesla at 0 per share. Tesla is already the most valuable automaker in the United States.The early afternoon tweet sent Tesla stock spiking by almost 9%. Trading in Tesla was halted for more than an hour before Tesla posted Musk's letter to employees on its blog. It finished up 11%, at 9.The stock had climbed slightly earlier in the day after the Financial Times reported that Saudi Arabia has quietly built a big stake in the company.At first, Tesla had declined comment on Musk's tweet, even as he casually engaged Twitter followers with more posts about his plans.Musk said that he hoped all current investors would stay with Tesla even if it went private. He said he would create a special fund to allow that. Fidelity, the investment firm, has such a fund for its stake in SpaceX, a separate private company also run by Musk.He pledged to hold on to his stake in the company, about 20%, no matter what. He said he was "super appreciative" of Tesla shareholders, and vowed to "ensure their prosperity in any scenario."Tesla has burned through cash while struggling to produce the Model 3, its lowest-priced electric car. That has driven the stock lower and raised concerns about whether Tesla will need to sell more shares to pay for expansion. Musk has insisted Tesla has no such need.Musk has also clashed repeatedly with critics, especially investors who have taken short positions on the stock, meaning they benefit when the price falls. He clashed with analysts on a contentious call after Tesla reported earnings three months ago.Gene Munster, managing partner at Loup Ventures and a top tech analyst, said the odds that Musk will take Tesla private were about one in three. But he said the idea made a certain amount of sense."Musk does not want to run a public company," Munster wrote on his website. "His mission for Tesla (to accelerate the globe's adoption of sustainable energy) is both grand and long-term, making it difficult to accommodate investors quarterly expectations."It would cost about billion to take Tesla private at 0 per share. Before Musk's tweet, Tesla had a market value of billion, already higher than that of General Motors or Ford, even though those companies are significantly larger and more profitable.In fact, Tesla has turned a narrow profit in only two quarters since it became a public company in 2010. Musk has vowed that the company will start turning a regular profit in the second half of this year.In a 2013 report, the SEC said companies can use social media outlets to announce important information, so long as they comply with regulations and "investors have been alerted about which social media will be used to disseminate such information."The SEC issued that report after Reed Hastings, the CEO of Netflix, used a Facebook post to congratulate Netflix's chief content officer on record-breaking viewership. Netflix stock moved higher as a result.Tesla said in a regulatory filing in 2013 that investors interested in keeping up with Tesla should follow Musk's account.The SEC declined comment on Musk's tweet.Musk has a history of outrageous behavior on Twitter.On April 1, amid rising market concerns about a cash crunch at Tesla, he tweeted an email announcing that Tesla would have to file for bankruptcy. The tweet was apparently an April Fool's joke.Musk also faced intense public criticism after he suggested in a tweet that one of the rescuers of the Thai soccer team trapped in a cave was a pedophile.He later deleted that tweet and apologized for that exchange, but at least one analyst suggested Musk needed to get off Twitter to restore investor confidence in the company.After Musk, the next largest shareholders in Tesla are the mutual fund giants T. Rowe Price and Fidelity, with stakes of more than 9% and 8%, respectively, according to Thomas Reuters Eikon.Scottish money manager Baillie Gifford, which recently urged Musk to focus less on tweeting and more on running the business, is the fourth-largest shareholder, with a nearly 8% stake. Chinese tech giant Tencent owns almost 5%.James Anderson, a Baillie Gifford fund manager who recently called out Musk's tweeting in an interview with Bloomberg, had no comment about Musk's tweets on Tuesday. Fidelity and T. Rowe Price also declined comment.— CNNMoney's Donna Borak contributed to this report.The-CNN-Wire 5277

Facebook users in the United States who want to run certain ads on the platform will need to hand over the last four digits of their social security number and a picture of a government-issued ID.The social network now requires anyone who wants to run ads related to political campaigns, civil rights, immigration, guns, economy, and other issues, to prove they're in the United States. Part of the proof required is the last four digits of your Social Security number.The move is part of a series of initiatives by Facebook to increase transparency on the platform after a Russian government-linked troll group spent thousands of rubles?on Facebook ads targeting Americsans ahead of the 2016 presidential election.In addition to a Social Security number, users wishing to buy ads will need to provide a picture of a government-issued ID and a US mailing address. Once Facebook verifies the information submitted, the company will mail a code to the provided address to authorize the user's Facebook account to buy ads.Facebook declined to share what services it uses to verify Social Security numbers and other personal details. The company said it will delete the information after verification."This normally happens within six weeks," the company says on its website.Related: Ahead of US midterms, tech companies stumble in Irish abortion voteQualifying ads will include a "paid for by" tag and will be saved in a political ad archive. As recently as last month,Facebook said ads would also include the tag "Political Ad." This is no longer the case.The change, Facebook told CNN, is because advertisers that might not traditionally be considered "political" will also be subject to the new rules.It's not only ads advocating for or against a political candidate that qualify for the archive. Any ad mentioning a candidate will be subject to the new rules.In April, Facebook released a list of 20 "issues" -- including as abortion, education, guns, health, immigration, military and terrorism -- that apply to the new approval process.The last issue on Facebook's list is "values," which the company considers "issues that discuss the values used in determining societal standards, such as patriotism."The new rules mean many marketing campaigns will be subject to the new guidelines. For instance, Super Bowl ads that have in recent years taken on a more socially conscious tone. Some companies run sponsored digital versions of their ads on Facebook after they air on television.Related: Facebook's new rules for Pages are a big deal, but there are major questionsSome news publishers, which promote articles via Facebook ads, have taken issue with the rules.The News Media Alliance, a trade group that represents publishers including the Wall Street Journal and The New York Times, wrote to Facebook last Friday asking for an exemption from the rules.The group is concerned that the inclusion of news stories alongside partisan political ads conflates the two."Newsgathering and reporting about politics is not the same thing as advocacy or politics," the letter said.The News Media Alliance did not outline how Facebook should decide what qualifies as a news outlet.In response to the letter, Campbell Brown, Facebook's head of news partnerships, said in a statement, "We recognize the news content about politics is different and we are working with publishers to develop the right approach."Last week, CNN reviewed the active Facebook ad campaigns of more than a dozen US and international news outlets popular on the social networking site.Only The New York Times and online video publisher NowThis News were running ads on Thursday, according to Facebook's "view ads" feature — a tool the company is testing in Ireland and Canada, and allows users to see what pages are running ads.CNN sent Facebook a selection of those ads to ask what the company would deem political."The principal architect behind the 9/11 attacks has something he wants to tell senators about President Trump's CIA pick," said the text of one ad, which linked to a The New York Times article.Facebook told CNN the ad "would be deemed political content as it references President Trump."This means the ad would include details about who paid for it and be included in the political ad archive.Another ad run by The New York Times included the following text: "Back in 1992, 'the idea that a thrilling sexual, openly gay and very butch woman would become a pop idol was seismic," and linked to an article headlined "K.D. Lang Doesn't Have to Indulge Your Constant Cravings."Facebook said ads about civil rights will be subject to its stricter rules but the company told CNN this particular ad "would not be deemed political or issue content as it focuses on the journey of an individual rather than a civil rights discussion."CNN also asked Facebook if the same ad was running in a state where there was a ballot initiative on civil rights would it then be considered an issue or political ad. The company did not provide a response.Facebook says it plans to hire up to 4,000 more people to review and verify political ads. Their role will likely include navigating the nuance of what is and isn't political.Antonio Garcia-Martinez, a former product manger on the Facebook ad team, said that he believes the company is hoping to get ahead of any potential regulation of ads on social media.He said he thought verifying ad-buyers was a good idea, but added "there's this law of Facebook outrage.""No matter which choice they make they're going to have a howling chorus of people complaining about it," Garcia-Martinez said. 5657

ESCONDIDO, Calif. (KGTV) -- San Diego County's rising coronavirus case numbers will determine what can stay open and what must shut down again. The uncertainty is taking both a financial and emotional toll for local restaurant owners.Open. Close. Open. Close. This isn't the revolving door that welcomes customers into local restaurants, it's the state's rules on indoor dining that is worrying business owners."It's devastating thinking that we might have to close again," Charlie's Family Restaurant owner, Suzan Meleka said. "I haven't slept in two nights."When the quarantine began in mid-March, the 28-year-old Escondido diner had to shut its doors. Meleka said they tried take-out. But as a traditional sit-down diner, it just wasn't for them.Then came the good news on May 21, 2020. With temperature checks, new cleaning, social distancing protocols in place, Charlie's reopened, and their loyal regulars came back."The food is great, the prices are great, the atmosphere is great!" one customer said."It's like a family here," said another."We were worried that a lot of them might forget about us because we were closed for two and a half months," Meleka said. "So they've just been wonderful. They are glad to be back to some sort of normalcy."But that normalcy did not last too long for diners in 19 California counties on the state's watch list. On July 1, 2020, Governor Gavin Newsom declared that every restaurant in counties surrounding San Diego had to again, stop serving food indoors. So far, San Diego is clear from that list. But Meleka is worried we are next."I think if restaurants are following every single protocol, they shouldn't be penalized," Meleka said.Compared to their large dining hall and banquet room for overflow, Charlie's only has four outdoor tables. This may not be enough capacity for the beloved family diner to muscle through another forced shutdown."I keep saying it's the twilight zone because it's just unbelievable," Meleka said.Meleka hopes everyone follows the state's guidelines so that San Diego County can stay off the state's watch list. She says the goal is for all local restaurants to keep their businesses afloat. 2179

Fat Bear Week is back, and voting is now open. The event is hosted by Katmai National Park and features a dozen brown bears preparing for hibernation.It’s an annual tournament comparing chubby bears and it’s getting renewed attention in 2020 as pandemic-weary Americans search for reasons to smile and look at adorable wildlife.Katmai National Park selects 12 bears preparing for the winter, some have names like “Holly,” who was 2019’s winner, “Grazer,” “Chunk,” “Otis,” and “Walker,” while others are identified by number. They then offer images of the bears from early this summer to images taken in the last few weeks to show how the animals are growing.Voting starts Wednesday and the head-to-head match-ups continue through October 6. Watch the animals on Katmai’s BearCam and vote daily on who is getting to be the fattest.A brown bear eats a year’s worth of food in just six months to help them survive through the winter, when they slow down and hibernate in their dens.The tournament is a way to celebrate the success of healthy bears doing what bears do. 1073

Electra and Violet are new moms to an adopted chick. The same-sex Gentoo penguin couple lives at the Valencia Aquarium in Spain.In a social media post, the facility says “Although same-sex couples are common in more than 450 species in both zoos and nature, it's the first time this has happened in our aquarium. So... Welcome to the world little one!”The pair started building a nest together out of stones and acting like they were getting ready for a baby. So, the aquarium let them “adopt” another couple’s extra egg according to a statement. They were able to incubate and hatch the egg this month.Electra and Violet will raise the chick until it becomes independent, which is about 75 days. 704