Money Minute: CEO Elon Musk Opens Tesla's Patents to All


Tesla chief Elon Musk is ready to share the family jewels. Musk says he will allow access to the company's proprietary technology to any car company that wants to build an electric vehicle. He says the world could benefit from the speeding up the development of electric cars. It's comparable to technology companies providing open source access to their programs. One potential advantage to Tesla Motors (TSLA) is that rivals could help it expand the network of charging stations.

For the second time in a year, Ford (F) admits it overstated the gas mileage on several of its vehicles. The company had advertised the great mileage these vehicles get, but now it's backtracking. It's offering money back -- from $125 to more than $1,000 in some cases -- to people who bought six 2013 and 2014 models, including the Fiesta and the Fusion hybrid.

The Spanish-language TV network Univision is reportedly seeking a buyer. The Wall Street Journal says Univision has met with Time Warner (TWX), CBS (CBS) and others about a deal that could be worth more than $20 billion.

Companies owned by the billionaire John Malone are reportedly interesting in buying a 49 percent in Formula One. Bloomberg says the deal could value the auto racing series at more than $8 billion.

Here on Wall Street on Thursday, the Dow Jones industrial average (^DJI) fell 109 points -- its first back-to-back loss in nearly a month -- the Nasdaq composite (^IXIC) dropped 34 and the Standard & Poor's 500 index (^GPSC) lost 13 points.

S&P statisticians note that historically Friday, June 13 has been a pretty lucky day for investors. The S&P index has moved higher 10 out of 12 times, dating all the way back to 1930.

Finally, the Supreme Court on Thursday handed a setback to Coca-Cola (KO). It unanimously ruled that Pom Wonderful could proceed with a false advertising claim against Coke's Minute Maid unit for advertising one of its juices as pomegranate "flavored," even though it contained less than 1 percent pomegranate.

-Produced by Drew Trachtenberg.

Increase your money and finance knowledge from home

Investing in Startups

The lucrative and risky world of startups.

View Course »

Understanding Stock Market Indexes

What does it mean when people say "the market is up 2%"?

View Course »

Add a Comment

*0 / 3000 Character Maximum


Filter by:

Yea Ford here we go again. I bought a 2012 Ford Escape with V-6 that the trip computer showed 35 MPG on the road and 29 MPG average. I checked it the old fashioned way and it only got 21 MPG average. I checked this 4 times. I sold that POS. I sincererly believe Ford jlately acks up their on board computers to sell cars. I had a 2007 Fusion that the trip computer was spot on. Why I bought the Escape. Now I hear the turbo 4's are even worse.

June 13 2014 at 2:17 PM Report abuse +2 rate up rate down Reply

True to form, Tesla did the same for George Westinghouse.Thank you Elon Musk for sharing.

June 13 2014 at 10:53 AM Report abuse +1 rate up rate down Reply

Lay off the coffee lady.

June 13 2014 at 8:57 AM Report abuse -1 rate up rate down Reply