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May 26, 2007 | John O'Dell, Times Staff Writer
You can feel the electricity. Tesla Motors Inc., manufacturer of an exotic electric roadster, will launch its brick-and-mortar retailing effort with a store on Santa Monica Boulevard near the 405 Freeway in November. And Environmental Motors, the newest dealer for Zap, importer of a three-wheeled, low-speed electric "city car" called the Xebra, just held a grand opening for its showroom at 134 S. Glendale Ave. in Glendale.
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BUSINESS
January 24, 2011 | By W.J. Hennigan, Los Angeles Times
After becoming the first private company ever to blast a spacecraft into Earth orbit and have it return intact last month, Hawthorne rocket maker Space Exploration Technologies Corp. is pushing toward its next big step. The company known as SpaceX wants to be the first commercial firm to launch astronauts into outer space and has submitted a proposal to NASA. SpaceX wants in on the potentially multibillion-dollar job of ferrying astronauts to and from the International Space Station after the space shuttle is retired this year.
BUSINESS
August 28, 2010 | By Jessica Guynn, Los Angeles Times
Google Inc. is stockpiling technology and talent for what many believe will be a full-on assault against Silicon Valley rival Facebook Inc. As part of its campaign to build a social networking service to counter the explosive growth of Facebook, Google confirmed Friday that it had bought up Internet company Angstro and hired its co-founder Rohit Khare. Khare, a respected Internet researcher, is one of several new faces at Google charged with helping the Internet search giant compete for the eyeballs and dollars increasingly flowing to social networking.
BUSINESS
October 25, 2008 | Ken Bensinger, Bensinger is a Times staff writer.
Struggling to raise money amid the financial crisis, electric carmaker Telsa Motors Inc. will eliminate nearly a quarter of its workforce in a bid for profitability. Chairman and Chief Executive Elon Musk said Friday that Tesla would cut as many as 87 staff and full-time contract workers, or 24% of the 363-person total. The company also will attempt to raise $25 million, rather than the $100 million it had been seeking. Last week, the Santa Rosa-based start-up said it would delay production of its electric sedan, close two offices, increase production of its $109,000 Roadster and lay off an unspecified number of employees.
BUSINESS
June 30, 2010 | By Tiffany Hsu, Los Angeles Times
Wall Street found a new darling Tuesday in Tesla Motors Inc., an electric sports car maker whose shares surged more than 40% on its much anticipated first day of trading. Shares of Tesla, the first American automaker to go public in more than half a century, shot up $6.89 to close at $23.89 despite a plunge in the global markets. The Palo Alto company has yet to post a profit since it was co-founded by Internet entrepreneur Elon Musk in 2003. Still, investors snapped up Tesla shares amid what analysts said was more hype over the first public offering by an electric car maker than the potential for it to alter the auto industry.
BUSINESS
February 16, 2002 | JOSH FRIEDMAN, TIMES STAFF WRITER
PayPal Inc. shares surged 55% on Friday as the online payment provider became the first Internet company to go public in almost a year and notched the strongest trading debut in nine months. Analysts warned, however, that the overall market for initial public offerings remains "anemic." They said fast-growing PayPal, a favorite of EBay Inc.'s auction Web site users, faces a cloudy future because of legal and regulatory questions.
BUSINESS
January 7, 2011 | By Jessica Guynn, Los Angeles Times
LinkedIn Corp., a website for professionals to connect, may be the first company to quench investor thirst for the red-hot social networking market. The Mountain View, Calif., company has been quietly preparing an initial public offering for as early as the first three months of this year. LinkedIn has hired investment bankers Bank of America Merrill Lynch, Morgan Stanley and JPMorgan Chase to advise it after a round of interviews in November. The size of the offering is not known, but it is expected to be small relative to the company's value.
BUSINESS
April 18, 2002 | From Times Wire Services
Saying companies spent less on technology in the first quarter, IBM Corp. reported its sharpest drop in earnings since the world's No. 1 computer maker emerged in 1993 from a string of losses. But the company sounded a positive note for later this year, saying that it expects to meet analysts' 2002 estimates as revenue from services improves to double-digit growth, which helped boost its shares in after-hours trading to as high as $87.29. The shares had closed off $1.39 at $84.
BUSINESS
July 24, 2002 | DAVID COLKER, TIMES STAFF WRITER
Losses at Amazon.com Inc. were cut nearly in half in the second quarter as the online retailer cut prices and offered shipping discounts to lure new customers and boost sales. The Seattle-based company said Tuesday that it lost $94 million, or 25 cents a share, down significantly from its loss of $168 million, or 47 cents a share, in the same period last year. Quarterly sales grew 21% to $805.6 million from $667.6 million in 2001.
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