Aug 26, 2018

Why Elon Musk backtracked on taking Tesla private

Photo: Justin Sullivan/Getty Images

In the process of setting up the framework to take Tesla private, CEO Elon Musk began to realize his thinking was "overly simplistic," and that the difficulties privatization posed would cause unnecessary distractions at a time when Model 3 production is vital to the company's success, reports the The New York Times.

The details: Besides the factors explained in last Friday's blog post, Musk was reportedly concerned about the contradictions of having an electric car company backed by a Saudi wealth fund that had made its fortune on fossil fuels. It also became clear that the Saudis, other foreign funds and even bigger carmakers might expect more than just equity in exchange for an investment, including proposals to set up production in their countries.

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Trump again nominates Rep. John Ratcliffe for intelligence chief

Ratcliffe at CPAC on Feb. 27. Photo: Michael Brochstein/Echoes Wire/Barcroft Media via Getty Images

President Trump again nominated Rep. John Ratcliffe (R-Texas) as Director of National Intelligence (DNI), in a tweet on Friday.

Catch up quick: If confirmed, Ratcliffe would eventually replace Richard Grenell, a staunch defender of Trump and former U.S. ambassador to Germany who was installed as the acting DNI only a few weeks ago. Grenell would have had to leave the post on March 11 unless Trump formally nominated someone else to oversee the U.S. intelligence community, the New York Times reports.

Go deeperArrowUpdated 48 mins ago - Politics & Policy

House Democrats lose appeal to force McGahn testimony

Photo: Alex Wong / Staff

Democrats in the House lost an appeal to force former White House counsel Don McGahn to comply with a subpoena, Politico was the first to report.

Why it matters: McGahn was seen as a crucial witness in the House investigation into whether President Trump tried to obstruct the Mueller inquiry into Russian interference in the 2016 presidential election . The U.S. Court of Appeals for the District of Columbia Circuit ruled 2-1 on Friday that it did not have the authority to resolve the dispute between the executive and legislative branches.

Go deeperArrowUpdated 53 mins ago - Politics & Policy