Paradigm Shift for Tech Companies: Alexandra Ebert
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CNN
22 minutes ago
- CNN
Tesla ordered by Florida jury to pay $329 million in Autopilot crash
FacebookTweetLink A Florida jury on Friday found Tesla liable in the 2019 fatal crash of an Autopilot-equipped Model S, and ordered Elon Musk's automaker to pay $329 million to the family of a deceased woman and an injured survivor. Jurors in Miami federal court ordered Tesla to pay $129 million in compensatory damages and $200 million in punitive damages to the estate of Naibel Benavides Leon and to her former boyfriend Dillon Angulo. Lawyers for the plaintiffs said the trial was the first involving the wrongful death of a third party resulting from Autopilot. The plaintiffs had sought $345 million. Tesla has faced many similar lawsuits over its vehicles' self-driving capabilities, but they have been resolved or dismissed without getting to trial. A judge rejected Tesla's efforts to dismiss the case earlier in the summer, and experts said this may encourage other litigants against the EV maker. 'I think it's a big deal,' said Alex Lemann, a professor at Marquette University Law School, who said this may make future settlements more expensive for Tesla. 'This is the first time that Tesla has been hit with a judgment in one of the many, many fatalities that have happened as a result of its auto-pilot technology.' Friday's verdict could impede efforts by Musk, the world's richest person, to convince investors that Tesla can become a leader in so-called autonomous driving for private vehicles as well as robotaxis it plans to start producing next year. Shares fell 1.8% on Friday. Tesla plans to appeal, according to published reports. The Austin, Texas-based company and its lawyers did not immediately respond to several requests for comment. The trial concerned an April 25, 2019, incident where George McGee drove his 2019 Model S at about 62 mph through an intersection into the victims' parked Chevrolet Tahoe as they were standing beside it on a shoulder. McGee had reached down to pick up a cellphone he dropped on his car's floorboard and allegedly received no alerts as he ran a stop sign and stop light before hitting the victims' SUV. 'We have a driver who was acting less than perfectly, and yet the jury still found Tesla contributed to the crash,' said Philip Koopman, a Carnegie Mellon University engineering professor and expert in autonomous technology. 'The only way the jury could have possibly ruled against Tesla was by finding a defect with the Autopilot software. That's a big deal.' Benavides Leon was allegedly thrown 75 feet to her death, while Angulo suffered serious injuries. 'Tesla designed Autopilot only for controlled-access highways yet deliberately chose not to restrict drivers from using it elsewhere, alongside Elon Musk telling the world Autopilot drove better than humans,' Brett Schreiber, a lawyer for the plaintiffs, said in a statement. 'Today's verdict represents justice for Naibel's tragic death and Dillon's lifelong injuries,' he added. Last month, Tesla posted its biggest quarterly sales decline in more than a decade, and profit fell short of Wall Street forecasts.
Yahoo
29 minutes ago
- Yahoo
Buy and Hold Strategy: How Procter & Gamble (PG) Delivers Long-Term Value
The Procter & Gamble Company (NYSE:PG) is included among the 10 Best Dividend Stocks to Buy and Hold Forever. A happy couple viewing the products of this household and personal product company in a mass merchandiser store. The Procter & Gamble Company (NYSE:PG) is a familiar name found on the shelves of nearly every store, with a portfolio that includes well-known household brands such as Tide, Pampers, Gillette, Old Spice, Swiffer, Cascade, and Dawn. While the products themselves— ranging from cleaning supplies to personal care items— aren't particularly unique, the company's strength lies in its brand recognition and the premium shelf placement its products receive. These everyday essentials are used regardless of economic conditions, giving The Procter & Gamble Company (NYSE:PG) a level of resilience that has helped it consistently raise its dividend year after year for 69 years. Over the past decade, it has increased its dividend by an average of just under 5% annually, reflecting its steady and reliable growth approach. The Procter & Gamble Company (NYSE:PG) offers a quarterly dividend of $1.0568 per share and has a dividend yield of 2.81%, as of July 31. While we acknowledge the potential of PG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None.
Yahoo
29 minutes ago
- Yahoo
Portland General Electric Company (POR): A Steady Performer in the World of Income Stocks
Portland General Electric Company (NYSE:POR) is included among the 11 Best Income Stocks to Buy According to Hedge Funds. A wind farm with turbines rotating in unison, showing the power of renewable energy. Portland General Electric Company (NYSE:POR) is a publicly traded utility headquartered in Oregon, focused on generating, transmitting, and distributing electricity. The stock presents both potential and risk. One concern is its West Coast location, where wildfires remain a persistent threat. However, the company also benefits from serving a strategically important area that hosts key international subsea communication cable landings. This makes it an attractive utility for data centers and tech firms, particularly in Oregon's 'Silicon Forest' region. Portland General Electric Company (NYSE:POR) recently announced earnings for the second quarter of 2025. The company posted revenue of $807 million, which showed a 6.4% growth from the same period last year. These quarterly results were largely driven by a surge in demand from data center customers, which led to a 16.5% quarter-over-quarter increase in industrial load. Progress continued on several key initiatives, including the recovery of the Seaside battery, upgrades to the distribution system, and enhancements to the holding company structure. The company also reaffirmed its adjusted earnings guidance for 2025, projecting earnings of $3.13 to $3.33 per diluted share. Portland General Electric Company (NYSE:POR) is a solid dividend payer. On July 19, the company declared a quarterly dividend of $0.525 per share, which fell in line with its previous dividend. It has been rewarding shareholders with growing dividends for the past 19 years, which makes POR one of the best dividend stocks for consistent income. As of July 31, the stock has a dividend yield of 5.11%. While we acknowledge the potential of POR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
