Latest news with #Denholm
Daily Record
6 days ago
- General
- Daily Record
Foodbank in Wishaw appeals for donations as stock runs low while numbers in need remain high
The service at South Wishaw Parish Church provides in excess of 80 food packages a week Wishaw Community Foodbank is feeling the pinch and being forced to cut back on the size of food parcels it is handing out due to a drop in the amount of donations it's receiving. The foodbank which operates from South Wishaw Parish Church on East Academy Street provides food packages to around 80 individuals, many of them with families, each week. It has been running for two years and receives donations from local supermarkets and schools, as well as the general public but there's been a reduction recently. Wishaw Community Foodbank's Mari Lindsay, said: 'At the moment we're finding our donations are falling, we do get donations of fresh items twice a week from Tesco and we've been getting donations of loaves from Warburtons weekly. 'The foodbank has been running for some two years now and today we had 41 people through our doors looking for food parcels. There were a similar number on Tuesday. We're getting at least 80 requests for groceries every week. 'The numbers coming through the doors are remaining pretty static, we get around 80 to 90 requests each week over the two days we open. The donations from local businesses and schools has fallen off so we've had to reduce the amount we're giving out because we don't have the stock. Schools and businesses in the area have been very good with us. "People tend to think of us round around Christmas time and give big donations then, but the rest of the year it's sort of forgotten about. It's not just Christmas we need help, we still need donations irrespective of what time of year it is. We're just looking to remind people the demand is still there. 'What we don't have in stock we have to buy out of the congregational givings and, like almost every other church, it's an ageing population. The church having any excess is practically a thing of the past. 'I'll also need to get in touch with the Dogs' Trust who normally bring us pet food as we have none.' A community café also runs from the Wishaw church but they are unsure how long this will be able to continue. 'Our Community Café offers tea/coffee and a hot filled roll free of charge. Denholm's the bakers in Wishaw are very kind to us and we receive cakes and rolls from them every week but everything else is funded by donations or weekly givings from our congregation, so we don't know how much longer we can sustain this. There's going to come a point that we can't do it for free.' The foodbank opens on Tuesday and Friday mornings from 10am to 12noon and any donations will be gratefully received.
The Age
16-05-2025
- Automotive
- The Age
Operation Elon: The Aussie who made $820m selling her Tesla shares
Let's start with a different question: why is this respected Silicon Valley veteran selling? Who would not want to own shares in a company that – as its return to the trillion-dollar valuation club demonstrates – seems to be protected from any sense of economic logic. Sales continued to plunge across its biggest European markets last month, despite a long-awaited update of its most popular car. While leaving Tesla on self-drive mode, Musk found time to support extreme right-wing causes across Europe which triggered a plunge in sales on the Continent, as well as the Trump administration which is waging a global trade war that is also costing Tesla dearly. And when reports emerged that Tesla's directors were searching for a potential replacement for Musk – a very sensible decision for any board in the circumstances – Denholm made a public statement declaring the report to be 'absolutely false' and made it clear that Tesla and its founder Musk were joined at the hip. 'The CEO of Tesla is Elon Musk and the board is highly confident in his ability to continue executing on the exciting growth plan ahead,' she said in a tweet on his social media platform, X. It is no wonder this board was slammed by a US court judge over a $US56 billion pay packet for Musk. It was accused of acting as enabler for the company founder, not as an overseer for investors. But the rules are different at Tesla. Its trillion-dollar valuation only makes sense if you look at it as a meme stock – a company that suddenly goes viral on social media and its shares skyrocket for no clear reason. And Musk is its meme. Denholm seems to get this. Any valuation currently subscribed to Tesla left reality a long time ago, and the only tether with valuations on planet Earth is its mercurial founder. Tesla's valuation was extraordinary enough when it was merely worth more than every other carmaker on the planet combined. That was based on the idea that it had too much of a lead on e-vehicles – the car of the future – for anyone else to catch it. While US and European sales reflect repugnance for Musk's politics, the fall-off in China reflects a far more sobering reality: Tesla is way behind its multitude of Chinese rivals on every significant feature: price, recharging times and autonomous driving features which are now offered free on some Chinese cars. Keep in mind that the future earnings which underpin its current $US1.1 trillion valuation are expected to shrink if his Republican buddies successfully gut electric vehicle subsidies to the tune of billions of dollars. And the price investors pay for each dollar of Tesla's profit far exceeds dominant tech rivals like Nvidia, Apple and Microsoft. Cars clearly don't drive its valuation now, it is the market perception of Musk's ability to morph the company into a dominant force in AI, robotaxis and humanoid robots. That is a much harder argument to make in the current environment. Any valuation currently subscribed to Tesla left reality a long time ago, and the only tether with valuations on planet Earth is its mercurial founder. You don't need to go outside the US borders to see what significant competition Tesla faces on the AI front. And China appears to be streets ahead when it comes to autonomous driving, robotaxis and is already talking about AI-aided robots as its next workforce. It underlines that Denholm's one job at Tesla is to keep Musk interested enough to ensure he gives the company a decent crack at the impossible task before it. The issue is not whether Tesla is a valuable company, it is whether it is worth anything remotely close to the current market valuation. It gives an interesting context to Denholm's massive stock sale which has left her with shares worth around $US27 million. Her Tesla stake is almost certainly worth less than her trophy homes in Sydney and nearby Whale Beach where she reportedly tried, and failed, to get approval for a lift to be installed that would deliver her to the sun-kissed sand. If she isn't willing to hold shares she paid almost nothing for, other investors should take heed.
Sydney Morning Herald
16-05-2025
- Automotive
- Sydney Morning Herald
Operation Elon: The Aussie who made $820m selling her Tesla shares
Let's start with a different question: why is this respected Silicon Valley veteran selling? Who would not want to own shares in a company that – as its return to the trillion-dollar valuation club demonstrates – seems to be protected from any sense of economic logic. Sales continued to plunge across its biggest European markets last month, despite a long-awaited update of its most popular car. While leaving Tesla on self-drive mode, Musk found time to support extreme right-wing causes across Europe which triggered a plunge in sales on the Continent, as well as the Trump administration which is waging a global trade war that is also costing Tesla dearly. And when reports emerged that Tesla's directors were searching for a potential replacement for Musk – a very sensible decision for any board in the circumstances – Denholm made a public statement declaring the report to be 'absolutely false' and made it clear that Tesla and its founder Musk were joined at the hip. 'The CEO of Tesla is Elon Musk and the board is highly confident in his ability to continue executing on the exciting growth plan ahead,' she said in a tweet on his social media platform, X. It is no wonder this board was slammed by a US court judge over a $US56 billion pay packet for Musk. It was accused of acting as enabler for the company founder, not as an overseer for investors. But the rules are different at Tesla. Its trillion-dollar valuation only makes sense if you look at it as a meme stock – a company that suddenly goes viral on social media and its shares skyrocket for no clear reason. And Musk is its meme. Denholm seems to get this. Any valuation currently subscribed to Tesla left reality a long time ago, and the only tether with valuations on planet Earth is its mercurial founder. Tesla's valuation was extraordinary enough when it was merely worth more than every other carmaker on the planet combined. That was based on the idea that it had too much of a lead on e-vehicles – the car of the future – for anyone else to catch it. While US and European sales reflect repugnance for Musk's politics, the fall-off in China reflects a far more sobering reality: Tesla is way behind its multitude of Chinese rivals on every significant feature: price, recharging times and autonomous driving features which are now offered free on some Chinese cars. Keep in mind that the future earnings which underpin its current $US1.1 trillion valuation are expected to shrink if his Republican buddies successfully gut electric vehicle subsidies to the tune of billions of dollars. And the price investors pay for each dollar of Tesla's profit far exceeds dominant tech rivals like Nvidia, Apple and Microsoft. Cars clearly don't drive its valuation now, it is the market perception of Musk's ability to morph the company into a dominant force in AI, robotaxis and humanoid robots. That is a much harder argument to make in the current environment. Any valuation currently subscribed to Tesla left reality a long time ago, and the only tether with valuations on planet Earth is its mercurial founder. You don't need to go outside the US borders to see what significant competition Tesla faces on the AI front. And China appears to be streets ahead when it comes to autonomous driving, robotaxis and is already talking about AI-aided robots as its next workforce. It underlines that Denholm's one job at Tesla is to keep Musk interested enough to ensure he gives the company a decent crack at the impossible task before it. The issue is not whether Tesla is a valuable company, it is whether it is worth anything remotely close to the current market valuation. It gives an interesting context to Denholm's massive stock sale which has left her with shares worth around $US27 million. Her Tesla stake is almost certainly worth less than her trophy homes in Sydney and nearby Whale Beach where she reportedly tried, and failed, to get approval for a lift to be installed that would deliver her to the sun-kissed sand. If she isn't willing to hold shares she paid almost nothing for, other investors should take heed.
New York Post
15-05-2025
- Automotive
- New York Post
Telsa chair, Robyn Denholm, sold stock worth $230 million as company profits plunged
The chair of Tesla sold more than $230 million of company stock since Elon Musk's endorsement of Donald Trump triggered boycotts and protests against his cars, sending its profits and stock price plunging. More than half of Robyn Denholm's cash haul came from sales in the first four months this year as Tesla stock fell by one-third, according to filings reviewed by The Associated Press. In total, she unloaded hundreds of thousands of shares — more than half her holdings, as dictated by a pre-arranged selling plan filed with regulators as Musk began embracing right-wing politics. Advertisement 4 Tesla Chair, Robyn Denholm, attends the Australian Financial Review Business Summit in Sydney, Australia, March 4, 2025. REUTERS Denholm filed that plan on July 25, the day Musk endorsed Trump for president. Denholm's profits were likely outsized, too. That is because many of the shares she sold had been acquired through so-called options granted to her by Tesla years earlier that, given recent stock prices, allowed her to buy at a deep discount, according to data from research provider FactSet. Nearly a million shares acquired through options were bought for $25, less than a tenth of the market price for much of the last nine months. Advertisement The AP reached out to both Tesla and Denholm but did not receive an immediate reply. A Denholm statement to The New York Times, which earlier reported on the insider sales, said that the share value of holdings by Tesla directors has jumped because the stock itself has soared, creating 'outsized returns' for all shareholders. 4 Denholm sold more than $230 million of company stock since Elon Musk's endorsement of Donald Trump triggered boycotts and protests against the car company. Bloomberg via Getty Images It's not clear why Denholm decided to cash out so much of her stake. Advertisement Pre-determined selling schedules are used by executives and directors as a way of telling investors that their selling isn't based on insider information, which is illegal, or necessarily a sign that they have turned pessimistic about a company. Denholm isn't the only Tesla insider who has been selling. The chief financial officer and other directors have unloaded $189 million in stock in the same nine-month period, according to FactSet data. 4 Elon Musk greeted U.S. President Donald Trump as they attended the NCAA men's wrestling championships in Philadelphia, Pennsylvania, on March 22, 2025. REUTERS Tesla stock soared after Trump was elected in November on the hopes that the president-elect's close relations with Musk would translate to less regulatory scrutiny and bigger profits. Advertisement But Musk's role as the government cost-cutting chief for Trump and his comments supporting extreme right-wing politicians in Europe have triggered a backlash among car buyers, and sales have sunk along with his stock. 4 Musk's role as the government cost-cutting chief for Trump and his comments supporting extreme right-wing politicians in Europe have triggered a backlash among car buyers, according to reports. Getty Images Tesla reported last month that profits in the first three months of the year plunged 71%. The stock soared again after Musk, the company's chief executive and biggest shareholder, said he would be stepping back from his Washington work to spend more time at the electric automaker. Tesla closed at $347 a share Wednesday, up 4% for the day and more than 50% since its April low.
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Business Standard
14-05-2025
- Automotive
- Business Standard
Tesla board forms panel to explores new pay deal for CEO Elon Musk: Report
Tesla's board has formed a special committee to review CEO Elon Musk's compensation, which could result in a new stock options package, the Financial Times reported on Wednesday. The two-member committee comprises Tesla board Chair Robyn Denholm and independent board member Kathleen Wilson-Thompson, the newspaper reported, citing several people familiar with the matter. Tesla did not immediately respond to a Reuters request for comment outside regular business hours. Denholm and Wilson-Thompson also did not respond to requests for comment. The committee will also consider alternative ways to compensate Musk for his past work if Tesla's 2018 pay package isn't reinstated through a court appeal, the FT said, adding that any new stock options would depend on the company meeting financial, operational and share price targets. In 2024, a Delaware court voided Musk's 2018 compensation package, valued at over $50 billion, citing that the Tesla board's approval process was flawed and unfair to shareholders. Musk kicked off an appeal in March against the order, claiming a lower court judge made multiple legal errors in rescinding the record compensation. Tesla is at a turning point as Musk, its largest shareholder with a 13 per cent stake, shifts focus from a promised affordable EV platform to robotaxis and humanoid robots, positioning the company more as an AI and robotics firm than an automaker. Last month, the EV maker said the board had formed a special committee to consider some compensation matters involving Musk, without disclosing any details. Tesla had also said it would file its annual proxy statement later than expected, as the board had not decided on a date for the annual shareholder meeting. It typically submits its filing several weeks ahead of its annual meeting. Earlier this month, Denholm denied a Wall Street Journal report that said board members had reached out to several executive search firms to find a replacement for Musk.
