Swarovski Black Diamond Cufflinks - New Release
Swarovski Black Diamond Cufflinks, Material: Plated Base Metal, Dimensions: 7/8" x 3/8", Cool Feature: Swarovski, Ships Within One Business Day,
NEW YORK (Reuters) - Hedge fund manager David Einhorn lambasted Tesla Inc (TSLA.O) and its “despondent” Chief Executive Elon Musk on Friday, comparing the electric car company to Lehman Brothers Holdings Inc, where he had flagged accounting problems several months before its 2008 collapse. “Like Lehman, we think the deception is about to catch up to TSLA,” Einhorn’s firm Greenlight Capital, which has sold Tesla shares short, said in a quarterly investor letter obtained by Reuters. “Elon Musk’s erratic behavior suggests that he sees it the same way.”.
Greenlight’s letter came one day after Musk, a swarovski black diamond cufflinks longtime critic of short-sellers, appeared to taunt the U.S, Securities and Exchange Commission by calling it the “Shortseller Enrichment Commission” on Twitter, That came just five days after Musk settled SEC fraud charges, in an accord that lets him remain Tesla’s chief executive but requires he step aside as chairman, A judge has yet to approve the settlement, Tesla did not immediately respond to requests for comment, Its shares were down 7 percent at $262.05 in late afternoon trading..
Greenlight is having a difficult year, with its main fund down 25.7 percent through September, but said its Tesla short position was its second biggest winner in the third quarter. In an investor presentation in May 2008, four months before Lehman went bankrupt, Einhorn had questioned the investment bank’s accounting, including for real estate, and said it needed to raise large amounts of capital. Einhorn said Tesla has “many parallels” to Lehman, which he said “threatened short sellers, refused to raise capital (it even bought back stock), and management publicly suggested it would go private.”.
“Months later, shareholders, creditors, employees and the global economy paid a big price when management’s reckless behavior led to bankruptcy,” Einhorn said, He said a big problem for Musk is that Tesla would lose too much money targeting a mass audience by selling its Model 3 at a $35,000 starting price, and yet “can’t bring himself” to cancel the program and refund customer deposits, “His swarovski black diamond cufflinks conduct suggests that he is doing his best to be relieved of his position as CEO to avoid accountability,” Einhorn said..
Musk, for his part, has used Twitter to mock Einhorn, saying on Aug. 1 he would “send Einhorn a box of short shorts to comfort him through this difficult time.”. Greenlight said it also sold its last Apple Inc (AAPL.O) shares in August at $228 per share, eight years after buying the iPhone maker at less than one-sixth that price, on growing fear of “Chinese retaliation against America’s trade policies. Apple did not immediately respond to a request for comment. Its shares were down 1.4 percent at $224.71 late Friday.
NEW YORK (Reuters) - S&P 500 companies will increase swarovski black diamond cufflinks cash spending by 13 percent to $3 trillion in 2019, with buybacks again expected to represent their largest use of cash, according to Goldman Sachs, Of the estimated cash spending in 2019, S&P 500 companies will allocate 51 percent to invest in growth, including capital expenditures, research and development and cash acquisitions, while 49 percent will go toward returning cash to shareholders through buybacks and dividends, Goldman strategists wrote on Thursday..
For 2018, total S&P 500 cash spending is rising by 19 percent, the fastest pace since 2011, they wrote. The increased cash spending follows last December’s biggest overhaul of the U.S. tax code by Congress in over 30 years. The new tax law slashed the corporate income tax rate and charged multinationals a one-time tax on profits held overseas. Goldman strategists expect S&P 500 buybacks to climb by 22 percent to $940 billion in 2019 versus 2018’s estimated $770 billion. Capital expenditures are expected to increase by about 9 percent from an estimated $715 billion in 2018 to $780 billion in 2019.
“In the near term, we expect companies prioritizing buybacks and dividends will continue to outperform firms investing for growth,” Goldman wrote, “Returning cash to shareholders is a winning long-term strategy and performs best when GDP growth is as strong as in 2018.”, The Commerce Department confirmed last week swarovski black diamond cufflinks that gross domestic product grew at a 4.2 percent annualized rate in the second quarter, the fastest pace in nearly four years, Goldman estimated about $525 billion of the $3 trillion in spending will go toward dividends in 2019, up from an estimated $495 billion in 2018..