2 killed in fiery collision with semi-truck on 5 Freeway near Sylmar
The collision happened at roughly 10:40 p.m. on the northbound side of the highway. After colliding with the semi-truck, the victims' SUV caught fire.
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CNN
3 hours ago
- CNN
Tesla's stock is tumbling after Elon Musk failure to shift the narrative
Elon Musk's big promises apparently no longer seem to be enough for many Tesla investors. Shares of Tesla (TSLA) fell 9% on Thursday following another dismal earnings report, released after the bell Wednesday. Tesla's earnings and revenue both fell by double-digit percentages following the biggest sales drop in the company's history. The automaker also faces a number of financial headwinds, including the loss of a $7,500 tax credit for US EV buyers starting in October, and the vanishing market for regulatory credit sales, which has earned Tesla $11 billion since 2019. But Tesla CEO Elon Musk barely talked about that on the earnings call Wednesday, although he did acknowledge the company 'probably could have a few rough quarters.' Instead, he talked about his grand vision for the future, including Tesla's long-promised robotaxi service; and its humanoid robot, Optimus, which is still in development. The lack of details about the company's plans to solve problems in the near term disappointed some investors and analysts. 'Investors have been very forgiving of Tesla for several quarters now, despite obvious headwinds to their business,' Garrett Nelson, analyst at CFRA Research, told CNN Thursday. 'But I think its investors are taking a more realistic view of the story at this point. Some of his brilliance has been his ability to keep investors focused on the long term and ignoring the near term and intermediate term. Now, headwinds are difficult to ignore.' Nelson downgraded the company's stock to a neutral rating in April. But even some of the Tesla bulls on Wall Street are saying that the time for Musk to take action is running out. 'The street is losing some patience,' Wedbush Securities tech analyst Dan Ives told CNN Thursday, although he said he still believes in the autonomous vehicle and artificial intelligence vision laid out by Musk and Tesla. Musk has made big promises about his robotaxi service, including that it would be in service within a year as early as 2019. Tesla's robotaxis finally rolled out in June this year, albeit in a limited portion of Austin, Texas, to friends and fans of the company, and with an employee sitting beside the empty driver's seat. However, that limited rollout wasn't enough to stop Musk from making extraordinary claims on Wednesday that the service would be available to half the nation's population by year's end. To achieve that, Tesla will need to get regulatory permission to operate in two states per week through the rest of the year, including New York, which does not allow autonomous vehicles on its roads. Morningstar analyst Seth Goldstein said that while he does believe Tesla will eventually be successful in its robotaxi venture, 'the software will require further testing' and he does not expect a full robotaxi product until 2028. But Musk has a history of making grand promises that do not pan out. Like the Cybertruck – the only new vehicle Tesla has offered in the last six years. Musk said Tesla was supposed to be delivering 250,000 vehicles annually by this year. But full-year sales of the Cybertruck and Tesla's two other expensive models were less than 80,000. Sales of the three plunged 52% in the most recent quarter. Tesla also started the year forecasting it would achieve higher sales following its first annual sales drop in its history in 2024. But after two quarters of record sales declines, most investors now assume that it will not meet that goal either. And with Musk himself barely mentioning car sales during an hour-long conference call, it doesn't appear that is enough for shareholders any longer. 'We are mixed on Tesla's ability to meet its robotaxi timelines, cost targets, and scale,' wrote Ben Kallo, an analyst for Baird, in a note to clients late Wednesday. 'So far Tesla has received a pass due to how ambitious/revolutionary these products are, but we think continued sluggishness in the auto business could cause more focus on the near term.'
Fast Company
3 hours ago
- Fast Company
The Eames House in L.A. is open again after closing during the fires
After closing for five months due to smoke damage from the Palisades Fire, the Eames House (Case Study House #8) in Los Angeles has reopened to visitors—now with a more determined mission to serve as a place of community. Nearly 7,000 buildings were destroyed in the Palisades Fire, and though the Eames House was spared, cleanup efforts have been intensive. A crew took about a week to wipe away flame retardant that had been dropped to slow the fire from advancing from the outside of the home. They also dug up the property's plantings beds so the soil could be replaced due to concerns about toxic materials. 'We were very fortunate,' says Lucia Atwood, the granddaughter of architects Charles and Ray Eames who built the Pacific Palisades home in 1949. The home is a model of resilience, but its stewards were also proactive. Atwood tells Fast Company interventions began in 2011 to better fire- and drought-proof the home, which is a National Historic Landmark and on the U.S. National Register of Historic Places. Those efforts that took on greater urgency after the Getty Fire in 2019. 'At that point it became very clear that there were going to be an increasing number of of extremely damaging fires,' says Atwood, the former executive director of the Eames Foundation. The foundation has worked to harden the landscape, a process that included clearing brush and removing some of the more than 250 trees that were on the property. Subscribe to the Design latest innovations in design brought to you every weekday SIGN UP Reopening events this month with local leaders, neighbors, and fire survivors have turned the Eames House into an Eames home for the community, as is the case for patrons of the Palisades Library, which was destroyed in the fires. After offering the library the use of the property, including the home's studio, which is open to the public for the first time, for events like book clubs and sales, the head of the library got emotional, says Adrienne Luce, who was announced the Eames Foundation's first non-family member executive director in April. 'This place is for you,' Luce recalls telling the library's head, and she says she started to choke up. 'Being so close to the devastation actually is a wonderful opportunity to serve and support the local community and long-term community rebuilding efforts.' Reopening means 'really engaging and serving the local community,' Luce says.
New York Times
3 hours ago
- New York Times
‘I Want to Clear My Name': Deported Migrant Takes First Step to Sue the U.S.
A Venezuelan migrant took the first step on Thursday toward suing the United States for what he says was his wrongful detention and removal to a notorious prison in El Salvador. Neiyerver Adrián Leon Rengel, 27, spent four months in the Terrorism Confinement Center, or CECOT, where he said he was beaten and abused. He filed an administrative claim on Thursday with the Homeland Security Department, accusing U.S. immigration agencies of removing him without due process. It is the first such claim to be filed by one of the 252 Venezuelan men who were expelled and sent to El Salvador in March, his lawyers said, and is a necessary step before taking legal action against the U.S. government in federal court. Mr. Rengel, who is seeking $1.3 million in damages, was released last week as part of a large-scale prisoner swap between Venezuela and the United States. He is now living in Venezuela. 'I want to clear my name,' he said in a phone interview late Wednesday from his home in the state of Miranda. 'I am not a bad person.' The Department of Homeland Security did not immediately comment on Mr. Rengel's claim. The detention of Venezuelan men in El Salvador in March was one of the first high-profile efforts to fulfill President Trump's campaign promise of mass deportations. His administration has accused the migrants of belonging to a Venezuelan gang, Tren de Aragua, and his administration has used the Alien Enemies Act, a rarely invoked wartime law, to justify capturing and removing many of the men to El Salvador. Want all of The Times? Subscribe.
