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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

Evacuees who fled the Camp Fire in California are facing norovirus outbreaks in shelters. The Butte County Public Health Department said that 145 people have been sick with vomiting and/or diarrhea since the shelters opened to evacuees and 41 people were experiencing symptoms at four different shelters as of Wednesday evening.Twenty-five people have been to the hospital for medical support, the health department said in a statement."The number of sick people is increasing every day," the statement said.About 9,700 homes were destroyed and 141,000 acres burned in the fire. Seventy-one people have died due to the fire, and more than 1,000 are missing. The Butte County health department is working with the Red Cross, state and federal partners to reduce the spread of the illness at the evacuation shelters, according to the statement released Thursday.Some of the actions being taken include establishing separate shelters for sick evacuees, active monitoring of shelter residents and protective equipment for medical staff. 1045

ENCINITAS, Calif. (KGTV) — Encinitas officials announced a "one-of-a-kind" crosswalk has been placed across Coast Highway 101 in downtown.Officials say the artistic crosswalk featuring surfboard shapes and waves spans across the highway at G Street and took two years of coordination between city staff and City Council to put together. The city says the crosswalk will improve walkability and bring more public art to the area.Artist Steffen Vala, whose work has appeared around the globe and been featured by Apple, Marvel, and other big brands, was commissioned for the crosswalk."The iconography of surfboard shapes is a nod to each surfer's 'magic board,' unique to them like their fingerprint. Juxtaposing this individualism is a unifying tidal wave laid out like the ocean's fingerprint that connects all the surfboards. This symbolizes the unifying, collective, 'party wave' we are all riding and our love in protecting the environment while celebrating our differences," the city said in a release.The city says the crosswalk is the longest decorative crosswalk of its kind and first one across a historic highway. 1132

ESCONDIDO, Calif. (KGTV) - A series of unfortunate events may have led to an albino red-tailed boa constrictor named "Lemony Snicket" disappearing from a North County museum. Officials with the EcoVivarium children's museum in Escondido believe Lemony disappeared on April 29 during a tour of the museum's Arthropod Jungle. During the tour, staff took Lemony out of its cage to show guests, before returning it to its enclosure and locking the gate.Unfortunately, a security camera facing Lemony's enclosure was damaged that same day and did not capture what could have happened.Staff said they fear the snake may have been stolen. They told 10News a man in his 20s left the tour group and never returned shortly before the snake disappeared."We are all heartbroken, and just want him safely returned, no questions asked," the museum said of Facebook. The snake was rescued four-and-a-half years ago in San Diego from an owner who had neglected it.Lemony is about 7-feet long, and yellow and orange, and has a scar on its face.Anyone with any information as to the snake's whereabouts is asked to call EcoVivarium at 760-975-9690.The situation is similar to another missing reptile case recently in North San Diego County."Bubbles" the monitor lizard slinked away from Mike's Pets in Spring Valley in March. Mike Estevez, of the store, said getting the word out was key in Bubbles' return."It really helped a lot," Estevez said. "We got a lot of feedback and concern from people coming in."A radio listener who heard about Bubbles ended up safely locating the missing lizard several days later. 1667

ESCONDIDO, Calif. (KGTV) — California Gov. Gavin Newsom says the state is activating the federal medical station at Palomar Medical Center in Escondido, while ICU bed capacity is strained in several regions.It wasn't immediately clear when the medical station could begin accepting patients."We are bringing a fifth alternative care site out of warm status, we're standing up that site, an FMS site, down in San Diego," Newsom said during an online press conference on Wednesday.RELATED: Hospital staffing concerns as COVID-19 hospitalizations increase in San Diego CountyPalomar Health preparing for increase in San Diego County COVID-19 hospitalizations as cases surge in CaliforniaDuring a Wednesday press conference, Chris Van Gorder, CEO of Scripps Health, said that San Diego County is not all that far from running short of ICU beds and staffing is a significant issue."The reality is, we're facing a significant situation here with our capacity and it's made worse because back in the summer, the spring and summer, it was a regional situation and not a national situation. So back then, we could get traveling nurses, we could get registry nurses, we could hire more nurses locally," Van Gorder said. "Today, this is a national situation and we cannot recruit travelers, we cannot recruit registry nurses, and unfortunately, a number of our healthcare providers are also getting sick."Van Gorder said the county has 24 staffed ICU beds left, out of about 670 available. He added that as hospitals get full and resources are strained, the type of care for anyone needing hospital care will change to crisis care.The top two floors of the Escondido hospital have been set up to serve as an FMS site. The site includes 202 beds that can be used for patients that don't require ICU care. The site could take in patients from other county hospitals that become overwhelmed, Dr. Omar Khawaja, the Chief Medical Officer for Palomar Health, told ABC 10News a few weeks ago."It could be beds that we would offload some of the less sick patients from other systems into there so they can handle the sicker patients; we don’t have a solid plan for it yet," he said.California's cumulative ICU bed capacity hit 1.1% on Wednesday, with the Southern California region at 0%. Three other regions were also under the state's regional stay-at-home orders activated after a region dips under 15% ICU capacity.San Diego County reported 348 coronavirus ICU cases on Wednesday and an additional 2,598 COVID-19 cases.Van Gorder said the county and hospitals project that hospitalizations will continue to grow and peak on Jan. 10, 2021, with about 1,827 patients, and ICU cases will peak on Jan. 11, with about 483 patients."Today, the governor announced the federal medical station at Palomar Medical Center is going to be activated. It's a developing situation. We'll share more information as we get it. But we're doing everything that we can to address the impact of the transmission of COVID, but each and every one of us now need to do everything we can to impact the situation our hospitals face," county Supervisor Nathan Fletcher said during Wednesday's press conference. 3175

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