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At the hearing, SEC lawyer Cheryl Crumpton said a contempt finding could require Musk to file regular reports about how Tesla lawyers are overseeing his tweets. Noting that Musk had called his $20 million fine “worth it,” Crumpton said the threat of higher potential fines might also be needed to show that further violations would be “not worth it.”. Musk is worth $20.7 billion, according to Forbes magazine. Crumpton also faulted what she called Tesla’s “troubling” conduct. “Tesla still appears to be unwilling to exercise any meaningful control over the conduct of its CEO,” she said shirts for cufflinks.

Tesla was not accused of contempt. Musk’s lawyer, John Hueston, countered that the “ambiguity” of the settlement made “the hard penalty of contempt” unfair. The “funding secured” tweet had sent Tesla’s share price up as much as 13.3 percent shirts for cufflinks. Musk’s privatization plan was at best in an early stage, however, and financing was not in place. SEC Chairman Jay Clayton has said he does not favor draconian penalties that could harm investors, saying when Musk settled that “the skills and support of certain individuals may be important to the future success of a company.”..

Musk remains an outspoken critic of the SEC. Since the case began, he has dubbed the regulator the “Shortseller Enrichment Commission,” recalling his attacks on investors who sell Tesla stock short. And in the early morning of Feb. 26, after the SEC filed its contempt motion, Musk tweeted: “Something is broken with SEC oversight.”. As he prepared to enter the courthouse, Musk told reporters: “I have a great respect for the justice system.” shirts for cufflinks. Asked whether he also respected the SEC, Musk laughed, before turning to go inside..

PUNTO FIJO/CARACAS (Reuters) – Venezuelan state-owned oil company PDVSA expects its crucial crude upgraders to operate well below capacity this month, according to industry sources and documents seen by Reuters, as U.S. sanctions and energy blackouts hit the OPEC nation’s oil industry shirts for cufflinks. Venezuela depends on the upgraders, which are mostly operated by joint ventures with foreign companies, to convert the extra-heavy crude oil produced in the Orinoco Belt into exportable grades usable in overseas refineries. Together, they have a capacity of some 700,000 barrels per day..

Prolonged power outages have been adding to problems blending and exporting crude, as PDVSA’s main oil port, Jose, in northeastern Venezuela remained paralyzed shirts for cufflinks. The Petropiar and Petromonagas upgraders, part-owned by U.S. oil major Chevron and Russian giant Rosneft respectively, have not fully restarted since a March 7 blackout. Petrocedeno, part-owned by France’s Total and Norway’s Equinor, stopped working after a second blackout on March 25, as did PDVSA’s fully-owned Petrosanfelix..