(elon musk, ceo, tesla motors) we as electric cars have become. the investor group iss has given the deal it's stamp of approval saying, "the transaction is a necessary step toward tesla's goal of being an integrated sustainable energy company". but solar city's corporate health is precarious. the company carries heavy debt at a time when there is intense competition from cheap chinese competitors. that's one reason why glass lewis and company, a shareholder advisory group, is urging ao (robert mccormick, chief policy officer, glass lewis & co.) they have 3-point-4 billion dollars in debt- at the end of the second quarter they have roughly 150 million in cash. so the question is, is this just a strategic merger or is this a bailout of solar city which is just burning through cash. critics worry about musk's motives. he is the largest shareholder in solar city and is related to the ceo. (robert mccormick, chief policy officer, glass lewis & co.) the process was done by a board which has affiliates on it by mr. musk. truly independent evaluation. 17

by tesla. expects solarcity to generate an additional $500 million over the next three years. during the shareholder meeting, and right afterwards, there was a webcast. people were expecting perhaps elon musk to make a comment or two regarding president donald trump. remember, we haven't really heard from him since the election last week. he did not comment on the trump presidency. but there has been speculation about whether or not under president trump, there would be the removal or the reduction of federal tax credits for those who buy electric vehicles. elon musk was asked about what impact lowering incentives might have on tesla. here is what he said. >> if all subsidies were removed, tesla's position would increase, not decrease. this is a really fundamental misunderstanding. we believe there should be incentives, government incentives for electric vehicles. we believe they should be there for the good of the industry. >> reporter: he went on to talk about the fact that, look, you need mo

short interest in tesla is 25%.time this thing gets beaten on, guy and i have talked about this, there is always an underlying bid. 190, 188, has been the place where it's been bought. one day that's not going to be the case, but it's been the case thus far. >> to build on that, if solarcity doesn't rally, given the short interest steve just said, maybe these naysayers might be right. maybe the stock does have another leg. to me -- listen, i'm not saying i know anything about the financials of tesla and solarcity. but if seems a lot like sleight of hand going on here. to me. and i'm not -- >> you're not alone. in terms of wall street. >> and will be good for them to have this behind them. the merger done, closed. >> even if it's closed successfully. >> the spread has come -- it seems it will most likely happen. >> the oddest thing about today, though, when you look at volatility going up to 20, what happened in tesla? volatility has been coming down. it's actually below the 30-day average. so that says something abo

in my original plan, business plan for tesla, i planned for tesla to do solar panels.t the time there wasn't the overlap because we didn't have the stationary storage for houses, the battery power for houses. once you start producing the battery packs, we had the power wall for houses and small businesses and we have the power pack for bigger companies and utilities, and in the process of installing the biggest utility battery set up in the world with southern california edison and another big one that's a solar battery combination in kauai, you really need product integration. so you want the solar -- you have the solar panels and the battery to work seamlessly with one set of electronics, one set of software, one insulation crew, one service crew. it's way better that way. and that's increasingly obvious and it was just getting clunkier and clunkier to do these like the kauai deal with the kauai utility. it took months to vet that through our independent board members of both companies and concerned it was an arm's-length transaction. and it was just very unwieldy. n

really helped tesla get the deal together.: there are still folks who do not think it is the right thing to do. we spoke to jim chanos yesterday. take a listen to what he had to say. >> the combination is absurd. i have said that. i do not know if i can sugarcoat it more. their shareholders have to have their heads examined. emily: what do you think? >> i think he is a little absurd. thank you for having me on. he paints a very broad brush and it is hard to criticize a man of his stature, but one of the difficulties with the solar city business model is that it is complex. a lot of the things that are said about it being a capital draw, that they will not be able to get positive, we have already seen the steps going forward to help them get to that point and some of the things that they outlined is an evolution to show investors that they are pivoting at solarcity and there is some technology that can be codeveloped. i think it is less of a distraction to be under the tesla umbrella rather than elon focusing on what they are d

the tesla brand name which elon part of. a huge i think that's absolutely what into.e buying >> of course, this is something jim noted frequent critic of elon musk. let's take a listen. >> i think the combination is absurd. i said that. i don't know if i can sugarcoat more. the shareholders of tesla have have their heads examined. >> we talked about how this merger makes it easier for cash.ity to raise there's some cost energies. thisegically, why does deal make sense? >> that's a lot of people have with.ulty if you're tesla and you want to businessolar panel integrated, you don't to buy solarcity. you can cut a marketing deal solarcity or get panels from another solar producer rather than take on the cash needs of sor solarcity. are all of his companies. people are buying into what he do. >> elon musk obviously teller.us story incredible vision for the stop shop world of green energy. what's the next thing on the investors are going to be expecting to see in terms of executing on this vision? >> what elon really needs to do

tesla's umbrella helps to panasonic.s far as the political climate, the political climate across many sectors is facing a lot of uncertainty. staff hasmp and his been clear that they are not going to be supportive of climate change. the investment tax credits that drive one of the drivers of solar was -- [indiscernible] paul ryan. i do not think they are going to go after tax credits. it is still a risk and it is something that people are talking about. the vision is to get down to a cost that you are competitive of . there are companies on the version that. we have a difficult solar environment right now. oversupply particularly because of ramping up too much capacity in the short-term the medium-term solarcity benefits from that because we are seeing prices drop dramatically -- that will help. productsat are the new that tesla and solarcity will offer? reporter: you are going to see a solar roof. these are actually architectural roofs and look pretty good. it is a total one-piece unit that is the entire roof of a house

>> when tesla and alibaba get compared to amazon, i really just have to laugh.zon went public in 1996. the last equity offering was in 2001. they have been free cash flow positive every year since then. so, amazon's business model was brilliant. it was basically the glorified dell model, in which we buy something on amazon, our credit card gets charged immediately, he pays the suppliers of his inventory 90 to 180 days later. we financed amazon's growth until very recently. amazon only has about 20 billion invested in its entire business over 20 years. that's nothing. bezos' genius was to create a platform like apple did, and there were synergies off that platform. elon musk is in the auto business. that's a whole different business. emily: jim chanos, founder of kynikos associates. coming up, cisco's transition from hardware to network service s provider has hit some speed bumps. this is bloomberg. ♪ inly: cisco shares dropping quarterly earnings. sales and profit that indicate corporate spending on tech infrastructure is slowing. joining me from new york, glenn

meantime, tesla is out with its first solar product, the solar roof.dall explains musk's plan for a solar trifecta. >> take a look at the roof of these four houses. can you spot the one covered in solar cells? that is a trick question. they all are. tesla just unveiled its first ever solar product. and it is stunning. it is not a solar panel. it is a range of solar roofing materials that look virtually indistinguishable from slate or modern asphalt shingles. >> people love their homes. they really want them to be better. i think taking this approach it can be. >> here is how it works. the top of the tile is made of textured glass. it looks like shingles from most angles but it allows a sunlight to pass through from above and into a standard solar cell with almost no loss in efficiency. tesla says the glass is as tough as steel and can weather a lifetime of abuse from the elements. it can be fitted with heating elements to melt off snow in a colder climate. >> you will call your neighbors over and say, check out this sweet roof. it's not a phrase you he

somebody asked me about this merger, and the business models of tesla.ade my usual snarky comments about it, and later that night someone well-known sort of silicon valley person came up to me and started poking me in the chest, saying, you don't get it. maybe that's part of the problem. here in wall street, we're pretty much focused on numbers and business models and is something sustainable, cash generation and do you make a profit, are you competing in competitive businesses. there it's a much different viewpoint. a holistic type of a viewpoint. if it doesn't work in this, it will work something else out. he's a genius. so far, that's been right. how is it different than amazon, where there has been a bad people on wall street -- >> completely different -- band of people on wall street -- >> completely different. when tesla and alibaba get compared to amazon, i really just have to laugh. amazon went public in 1996. the last equity offering was in 2001. they have been free cash flow positive every year since then. amazon's business model was brilliant.

we want to bring you some news out of tesla at this hour.reholders just voting on that merger with solarcity. phil lebeau has the results. >> shareholders for tesla and solarcity have both approved the merger of those companies. more than 85% of the shareholders who voted, and remember, elon musk, who owns about 22% of the shares of solarcity as well as 22% for tesla, he abstained from this vote. of those who voted, 85% voted yes. you're looking at the webcast of tesla's ceo, elon musk, after the vote was announced, 85% voting in favor. elon musk said, your faith will be rewarded. we'll have to see what happens over the next year, because as you know, kelly, there are more than a few analysts out there who say, this merger make is no sense at all. there are some who think it's a good idea, but there are also many who said they do not think it's a good idea. more comments from elon musk coming up. >> phil, thank you. mike, what do you think? >> strategically, i don't think it's any better or worse than you thought it was when they announced i

critics of the merger say the solar city could way down tesla with its $3 billion in debt. tesla expects the merger to be complete in a matter of -- matter of days. >>> stocks down in premarket trading this morning. after another decent finish yesterday without -- the dow gained 35 points. s&p up ten points. >>> a federal judge has blocked the ordinance for the air b&bs. for the time air b&bs and home away will sue the city using the process is difficult to monitor. earlier this week air b&bs says it is now willing to give the information about its clients as part of a mandatory registration system. >>> the san francisco das office has a special new help victims of crime. two dogs were sworn in as emotional support dogs to help make the legal process easier for people especially kids elderly and people who have gone through trauma. they came from a training facility in new mexico. several studies show interacting with support animals can reduce depression fear and anxiety. >> that is nice. >> it's a great idea. >>> let's take a look at traffic traffic. >> we are hoping for

the electric car maker says tesla ordered -- teslas ordered after january 1st will be eligible for roughly 1,000 miles worth of credits to be use the at its super charging stations. after that tesla customers will pay a fee. the company is not saying how much it will cost to use the chargers but say it will be less than the price of filling a comparable car with gas. tesla plans to continue offering free charging for cars ordered or sold before january 1st. >>> sorry about that. i got my heels tangled in the box there. knocked it over. coming up. jack del rio talked to the media. >> after the victory. mark watkin in with sports. >>> is there any room left on the band wagon to climb aboard. >> mr. al davis used to dress like you are. >> silver and black. >> a day late. >> that's right. >> but so many people are talking about this match-up last night. biggest game without exaggeration for the raiders since 2002 and you know what, in every sense they were ready for it, full course in every way. calling it an all-inclusive victory over the denver broncos. their 7th win in nine games and alone

tesla shares slid along with solar city.cerned the demand may be hurt by the new administration. all of this one week before tesla and solar city shareholders vote to approve a $2 billion merger. so, what impact does a president trump have on the future of a company like solar city? the head of alternative energy joins us from new york. gordon, what are you expecting? obviously a lot of unknowns. >> there is a lot of unknowns, but i think what's important is if you look at what silver city reported, if you look at what their sales were, 1/4 of their sales are for the commercial and industrial sector. if you look at what they are representing as their price of three dollars, we know that commercial and industrial prices are about 30% to 50% below what silvercity is representing. we know that if you apply that to the sga and spread that partially to the esp, there is no way their production costs are as low as what they are guiding. we think that is a bit misleading. in addition to that, the increase of the years that the syst

tesla is out with its first ever solar product, the solar roof. randall explains the plan for a solar energy trifecta. tom: take a look at the roofs of these four houses. can you tell which one is covered in solar? it's a trick question. hey all are. tesla just unveiled its first ever solar product and its stunning. it's not a solar panel, it's a range of four review materials to look indistinguishable from slate or asphalt shingles. >> people of their homes. i think taking this approach it can be. tom: the tile is made of textured last. it looks like shingles, but allows sunlight to pass hrough from above and into a standard solar cell with no oss in efficiency. tesla says the class is his toughest steel and can whether a lifetime of abuse from the elements. it can be fitted with heating elements to melt off snow in a colder climates. >> you will call your neighbors over and look out this sweet roof. it's not a phrase you hear often. tom: this is the plan to become a son to vehicle energy company. the idea is you can run your home on solar power

i think having tesla has under tesla's umbrella helps.s far as the political climate, the political climate across many sectors is facing a lot of uncertainty. i think trump and his staff has been clear that they are not going to be supportive of climate change. the investment tax credits that drive one of the drivers of solar in the united states was shepherded in by paul ryan. it is a jobs creator. i do not think they are going to go after tax credits. there are -- it is still a risk and it is something that people are talking about. the vision is to get down to a cost that is competitive without tax credits. there are companies on the verge of that. we have a difficult solar environment right now. because of oversupply particularly because of ramping up too much capacity in the short-term the medium-term solarcity benefits from that because they are buying up panels and we're seeing prices drop dramatically -- that will help their costs and help with adoption. emily: what are the new products that tesla and solarcity will offer? >> you

on get had tesla share around for four years at this point.happening, it's just going to happen a faster. emily: paint a picture for me in 10 years. will people not have a car? what sort of percentage do you see doing each thing? sam: we believe that 10 shall now, sharing cars will be the predominant way people use of vehicle. everyone buying a car today and using it themselves, with technology that's going to go away. it doesn't make sense. it's not sustainable. we use cars 5% of the time. that's a waste of resources. technology is enabling consumers to be much more efficient and that trend will only accelerate. emily: how big of a market will this be? sam: what you see is a readjustment, a change out in the value of how you own and operate vehicles. emily: hang on a second. i want to turn to the larger industry. something.ced what can you tell us about this? eric: it's a pilot program right now between her and gm. it's 90 days in san francisco but there is interest to work together more. general motors has been building at its own car sharin

in my original plan for tesla i planned for tesla to do solar panels. but at the time we didn't have the stationary storage for houses. >> another believer in the deal and the company is billionaire investor ron barren betting big on the electric car maker. he owns a $300 million investment. he sat down this morning from the barren conference in new york city. here is what he said about his stake in tesla. >> in my mind one of the most interesting companies, maybe most interesting that i have ever invested in. for my career it is risky but for my career i made ten times, 20 times, 50 times, 30 times in a lot of companies. i think in this investment from here in the next 15 years we can make 30 to 50 times their money. >> automotive analyst does not fully agree with ron barren but does say tesla is a rare opportunity for growth. >> i do. good afternoon. thanks for having me. >> welcome back. what do you think ron barren is looking at that would tell him he will get that kind of return over the next 10 to 15 years. >> congratulations, by the way, it is a

tesla's deal to acquire solar citicorp close today. shareholders of both companies approved the deal last week. elon musk who is also chairman of solar city wants to sell solar planner -- panels to tesla stores. customers can buy them to power thunderbird were shut down for several hours. the accident involved as many as 20 cars. one person has died and five more were hurt. all lanes have been reopened. >>> people braved the rain and waited in long lines to receive free thanksgiving meals. people began lining up to get the holiday donations at st. mary's food bank in phoenix. >>> still up ahead, we are heading out once again to our seven-day forecast. >>> asu fans, see how you can help one of the sun devils best players win an award and it is monday night which means it's time to head out -- handed out >>> 12 sports is sponsored by your valley toyota dealers.>>> all of this turkey talk is getting is hungry for some yummy thanksgiving dinner. 1412 crystal henderson is live at st. vincent de paul for our carve off. crystal, it's a lot of

they'll get .111 tesla shares for each share of solarcity.fallen back, that value may come back. elon musk is abstaining from the shareholder vote, but all along, he has been saying look, in is a no brainer, putting these two companies together. he likes the fact they'll have synergies when it comes to product offerings. efg from solar roofs down to energy storage units that will be in the homes to electric vehicles that will be manufactured by tesla. basically, a triple play. take a look at shares of tesla and solarcity. again, the vote is happening w now. there's a web cast at h 4-krk and we expect shortly after 4:00, somewhere between 4:00 and 4:30, we'll get the results of that vote. back to you. >> thank you very much. so, how should investors handle this deal or should they handle this at all? long time bear on the solar stock, most of them any way, recently downgrading his solar sector to a market underweight. so, just work through the me can ibs, gordon, if you can. say the deal gets done. solarcity stock goes away. what does that mea

what it means for the future of tesla and solar city.♪ ♪ emily: one stock we are watching, searching in the wake of donald trump selection, investors say the restrictive merger environment under the the new administration. president-elect trump will be in charge of nominating new leaders which previously favored a wireless market and blocked the sprint merger with t-mobile. also moving the energy spectrum because donald trump is a long time energy change denier. along withs slid solar city. investors concerned the demand may be hurt by the new administration. all of this one week before tesla and solar city shareholders vote to approve a $2 billion merger. what impact does a precedent trump have on the future of a company like solar city? the head of alternative energy joins us from new york. what are you expecting? obviously a lot of unknowns. >> i think what is important, if you look at what solar city just reported. if you look at what their sales were for commercial and industrial sector, and if you look at what they are representing

tesla has some major expenditures coming up. capital expenditure and the fourth quarter will be over $1 billion, and they are preparing to launch the model three sedan. it will take a lot of money to get that vehicle to market, so he has some huge expenditures for both companies on key products that will make or break things. need sixindia may months to replace the high currency notes it has recalled. the government is falling shy and there are fears a cast crunch -- cash crunch could harm the economy. we have no rest bite inside, have we? in sight, have we? haslinda: massive lines that the atms which run mt, and that has left people having heart attacks in the lines. also the inability to get money for daily essentials like food, so not surprising that businesses are struggling. some wholesalers are cutting prices of perishables to help them sell. tough times, deutsche bank predicting gdp may be cut by half a point. , it mayrt in particular take about six months to replace all the currency band. -- banned. a risk toing to be in

shareholders approved tesla's plan to buy solar city. tesla makes electric cars... solar city builds solar paneled roofs if you've been thinking about signing up for amazon prime... today's the day to do it. amazon is cutting the price for one day only...from 99 to 79 dollars.. to celebrate the launch of a new prime show. the grand tour. members get free two day shipping and access to shows and music. ((kirsten joyce)) >> jill -- who says you can't be comfortable at the hear one company is redefining... "business casual" ? a: fruit of the loom created a professional collection of sweatsuits.... they look kind of like a suit... but they're really just pajamas. there's a pin striped business suit...and corporate cowboy... even a country club look... which includes a fake sweater tied over the shoulders. they cost about 50 dollars each. /// >>> the county says its finished with the northern beltway project that improved 215 between n. 5th st. and decatur. a new interchange at revere street was also built, however, the ramps will remain closed until the road is extended

we will look at tesla's first ever solar roof project next.is bloomberg. ♪ ♪ emily: tesla shares fell after the company unveiled its first ever solar car. the solar roof was elon musk's closing arguments to investors on why they should approve their merger. tom randall explains musk's plan for a solar energy trifecta. tom: take a look at the roof of these houses. can you tell which one is covered in solar cells? trick question -- they all are. tesla just unveiled its first ever solar product and it is stunning. it is not a solar panel. it is a range of four solar roofing materials that look indistinguishable from other products. >> people really love their homes and they want it to be better. with this approach, it can be. tom: the top of the roof tile is made of glass. it looks like shingles, but it allows sunlight to pass through from above into cells. tesla says the glass is as tough as steel and can weather a lifetime of abuse from the elements. it can be fitted with heating elements to melt off snow. >> you can call your neighbors over an

the tesla shareholders will vote on it tomorrow. that even the supporters say will require investor patience. ((dave courvoisier)) >> the idea is for tesla showrooms to become a one stop shop for all your energy needs: like cars, home batteries and solar panels./// ((denise valdez)) >>> we have our very first winner of our 8 news now great days of giving contest! drum roll please!!! martha lindquist just won a 500 dollar gift card! congratulations! ((dave courvoisier)) >> we hope this helps during the holidays! and remember we will be giving away a 600 dollar gic so if you didn't win today.. you still have a chance at six.. and through november 22 in the 5 and 6pm. ((dave courvoisier)) >>> thanks for watching 8 news now at five. the valley's news leader. don't forget you can always find us on facebook and twitter. ((denise valdez)) >>> the cbs evening news is next. we'll see you at six. /// news music ((dave courvoisier)) captioning sponsored by cbs >> pelley: the word comes down from the tower. the president-elect tweets the transi

yet what tesla and solar city have going with them is elon musk.r of generating capital. jim: raising capital. joe: an important clarification. whether it is through investors are subsidies. what is the story he is telling? why is it effective? jim: i was at a conference and someone asked about silicon valley. merger asked about this and the business models. i made my usual snarky comments. came upat night someone to me and started poking me in the chest saying you don't get it. i think that is part of the problem. we are wall street focused on numbers and business models and something sustainable. are you competing in competitive businesses. there it is a different viewpoint. it is a holistic viewpoint. if it doesn't work, it could work something else out and he is a genius. so far that has been right. joe: how is it different from amazon? there have been people that say they are different. jim: completely different. and alibaba are compared to amazon i have to laugh. amazon went public in 1996. they have been free cash flow positive every year si

. >>> coming up, tesla owners may be a little more like the rest of us.he change to the charging stations that will drive up the price for drivers. >>> it's warm in the studio because we're pumped up for election day. >> seeing 50s outside. patchy fog setting up in the north bay. we'll see how that impacts the morning commute. >> outside in the south bay, at least you can see downtown san jose. yesterday the fog set up. we'll be watching that closely pre sunrise, 56 around palo alto. around berkeley and over to san francisco, actually kind of a mild start. 60 degrees right now, just a few high clouds. there you see the coolest spot around santa rosa, down to 51 degrees, visibility around a mile or two. not too bad along the coast and the south bay. what you see along the map is all the wind associated with strong storms to the west. eventually a day or two later. we'll see it setting up today. probably another round coming in for friday. what it means for the coast, wave heights approaching 15 to 20 feet by this evening. breakers taller than that. watch o

. ♪ emily: tesla's balance sheet may get a boost from solar city.said the pending acquisition could add $1 billion to the cash alanson three years. elon musk has been making the case for a tie up since the deal was approved by the board in august. the deal has been criticized, with some saying it's a poor use of tesla's cash. and a distraction from the carmaking business. meantime, tesla is out with its first ever solar product, the solar roof. tom randall explains the plan for a solar energy trifecta. tom: take a look at the roofs of these four houses. can you tell which one is covered in solar? it's a trick question. they all are. tesla just unveiled its first ever solar product and its stunning. it's not a solar panel, it's a range of four solar roofing materials to look indistinguishable from slate or asphalt shingles. -- people care about their homes. i think taking this approach it can be. tom: the tile is made of textured glass. it looks like shingles, but allows sunlight to pass through from above and into a standard solar cell with no loss

. >>> a we'll tell you the service tesla will soon begin charging for. don't throw your i voted sticker away. we'll show you the freebies that can help you score on election day. remember this year's heart walk just a couple of days away and you can still join stacie schaible's team. kia is matching the firs wfla/heart walk for details. r . to stop unfair subsidies, vote yes on amendment 1. ? ? lookin' out on the morning rain ? ? i used to feel so uninspired ? ? lord, it made me feel so tired ? ? before the day i met you, life was so unkind ? ? you're the key to my piece of mind ? donald trump: she ate like a pig. does she have a fat ass? absolutely. boob job is terrible. she's a slob. lips are too big, solid 4. disgusting pig. flat-chested is very hard to be a 10. i moved on her like a b****. priorities usa action is responsible for the content this is mike's office. if he doesn't show up, he doesn't get paid. too often marco rubio didn't show up and failed us when he did. i am patrick murphy. to get things done, you've got to show up. you've got to wor

--hink having tesla as having it under tesla's umbrella helps.r as the political climate, i think it is across many sectors, facing a lot of uncertainty. i think donald trump and his staff have been very clear that they are not going to be supportive of climate change. , theyedits really driv are one of the drivers of solar in the united states, and was shepherded in by paul ryan. it is a job creator. i don't think they will go after tax credits. it is a risk. to get to aideas cost for your competitive without tax credits and some companies are on the verge of that. we do have a difficult solar -- wenment right now with have a major glut we have not seen for several years because we have too much capacity. in the short-term, solar city benefits from that because we are seeing prices of panels drop dramatically. emily: in a short and longer term, david, what are the products solar city will offer? david: you will see a solar roof. these are not just panels, it looks like an actual roof and looks pretty good. unit a one-piece solar that is the enti

tesla says people who buy their cars from here on out will not get access to tesla's network of electricrgers. this is if you order the carney time after january 1st. this is one of the perks of owning a tesla. now, this could seem unfair because, if you have a deposit on a new tesla, it doesn't count. you'll still have to pay. you don't get the freebie because a deposit is not a purchase. tesla can change the rules if it wants to. >>> toyota reportedly working on a long-range all electric car. it already has the plug-in prius. nothing to compete with the chevy volt or the tesla itself. >>> samsung bought a full-page ad in several national newspapers to apologize for the samsung galaxy 7. samsung says it promises safety but recently fell short of this promise and for this we are truly sorry. we've seen a number of full-beige ads and folks wagon and all kinds of stuff saying i'm sorry. back to you. >>> so we have seen some of the poll lines on the east coast wrapping around the billing as people try to turn in their ballots. here in san jose the voting places have not opened just yet. if

in my original plan, for tesla, i planned for tesla to do solar panels.ut at the time they wouldn't overlap because we didn't have the stationary storage for houses, the battery pack for houses. >> that was elon musk earlier today saying the timing of the solar city merger is just right. tesla shares up 2% now. shareholders from solar city and tesla should vote in favor of the deal. the vote is scheduled to take place on november 17th. our next guest calls the merger an unneeded distraction. joining us now, cole langone. great to have you with us. elon was speaking from the baron investors conference, wasn't physically there. ron baron, a major holder of tesla, 1.5 million shares. this is his thesis, he believes that all cars will eventually be electric. demand for electricity is tremendous. utilities aren't spending the money. grids are insufficient. and tesla is making a big move now because down the line when everybody and their brother wants a tesla, solar will be necessary. do you see the logic in that? >> i see the long-term vision he has. i think i

early investors have invested in the story of tesla and as the story of tesla matures and mr.lls out additional visionary projects, he needs the assistance of independent oversight and good governance to bring those things to fruition. i think is a critical juncture for the company. challenges are on the horizon for tesla whether or not this deal goes through. you have a set of risks coming up and increasing competition in the space. you have political risks that arise from an incoming administration that has expressed hostility toward clean energy companies and execution risks as tesla rolls out new products. long-term investors want tesla to take on all of these things had on. david: thank you. vonnie: donald trump's energy -- part of our exclusive interview with harold hamm, next. this is bloomberg. ♪ david: this is bloomberg markets. i'm david gura. vonnie: i'm vonnie quinn. the speculation that donald trump may nominate a figure for oil and gas sector to be his energy secretary, harold hamm has told numbers he would be proud to be considered, but at this point, the subjec

that stock price is going to go nowhere but south. >> teslas, you think? >> yes. >> teslas. big inflated insect. on that note, mr. lutz, thank you, as always. great to be with you. >> okay. >> thank you. >>> we're watching eli lilly shares now, taking a hit after bernie sanders sent a tweet questioning the company's drug prices. meg tirrell is here with the details. not just a tweet. a video that was released, a full produced video criticizing the pricing. >> yeah. bernie sanders strikes again. we have been seeing him tweet a lot about drug pricing recently. most recently the company, you see the series of tweets today. he's targeting eli lilly and saying why has the price gone up 700% in 20 years? it is simple, the drug industry's greed. talking about some policy there. insulin is an area where these are pretty old drugs and the price has increased quite a bit. we talked on this program about how there is increasing pressure on the companies that make insulin. novo nor disk getting a lot of pressure, the stock falling as it talked about u.s. insulin prices in the united sta

tesla declared a profit. solar city reports next week. >> solar city reports on wednesday, right after the election. i think most shareholders are long on elon and most shareholders are in both companies. if you're voting against e merger, in some ways your voting against yourself. it depends how long you're willing to wait for financial success. brad: one thing iss did say, there was a governance problem at tesla. >> i think they called it suboptimal. brad: which is a very elon way to put it. will that have an impact? >> there are growing calls for the board to change somehow. maybe add more independent directors, more women. it will be interesting to see if the merger is approved and if they take those criticisms to task and expand the board. brad: another company that silicon valley is talking about this week, go pro. not a good day for go pro. the stock went down almost 20% on lackluster earnings. today it's surprisingly made up some of that ground. what message do we take out of that? do you think invest

.>>> a tesla model s slammed into a tree and a building in indiana and then burst into flames killing two people. coming up the investigation of this and the technology that is at the center of the investigation.>>> four days from the presidential election. look at some of the people they are bringing to the campaign trail. >>> a nice-looking commute, the bay bridge looks good getting into san francisco. >>> welcome back to "mornings on 2". four days that is how long donald trump and hillary clinton have to make their final arguments. >> trump is trying to capitalize on newfound momentum while hillary clinton is trying to gender -- defend the democrats blue wall. doug luzader has the latest. >> this is the electoral scorecard the lay of the land and there are four big changes. new hampshire had been leaning democrat now that is a tossup, ohio had been a tossup now it is republican. two other states missouri and indiana had been republican now they are identified as solid republican as this battlefield tightens in the final days. >> donald trump and hillary clinton relying on others, m

witnesses say a tesla model s was going fast. a high rate of speed, when it slammed into a tree and then hit the side of a building. the car caught fire, there was so much damage, it could not transmit information to the company's servers. which would have indicated if the car was on autopilot. the fiery crash killed a 27- year-old driver and his 44-year- old passenger. >> and passed me ads, you know, erratically, weaving in his entry. it flips, the next thing i know exploded. >> tesla says if the autopilot system was activated, the car would have only been able to go less than 35 miles per hour on the street, the time of the crash. drivers have to touch the wheel at certain points or the system will turn off. this follows a deadly tesla crash in florida last may. >>> passengers evacuated at sfo, cap next the false alarm that led to a bit of panic in one of the terminals. >>> it is inspected to be a very busy morning in san jose. the holiday giveaway that usually has people lining up for hours. [♪ music playing ] >>> do you know

new tesla owners will get 1,000 miles free charging credits and after that have to pay. tesla says fees will help the company build more charging stations. >>> still ahead, big bucks for a bobblehead. the soaring price for a version of a bay area football star. >>> coming up tonight at 6:00, flight where a man shot trying to protect his girlfriend finally gets his chance to get his pilot's teaching license. and the inspiring words he received from american hero, sully sullenberger, the pilot. that story and more coming up tonight at 6:00. >>> a bobblehead handed out in berkeley this weekend before cal's football game is extremely popular. so popular, that it's fetching a lot of money on ebay. the bobblehead is a former cal running back, marshawn lynch, riding on a golf cart ten years ago, lynch hopped on a golf cart following a win and rode around the field. now the commemorative bobblehead is going for as much as $500 on ebay. 10,000 fans received that fig e figurine on saturday. >> that is crazy. $500! >> i know. that's phenomenal. >> i'm sure there are a lot more on e

one of the cars at the pinnacle of technology is tesla. this tesla's speed is going to save its butt. watch out from the rear. wow. keeping an eye on their rearview mirror, noticing this prius come speeding up from the back. the tesla driver smashes the pedal, uses the power and torque of the motors to zip it out of the way. >> electric motors have instant torque. there's one on each wheel, which is why it has that ludicrous launch control. >>> typically when we talk about mustangs spinning out. that's changing. the driver here as he closes in on the traffic up ahead is checking his blind spot. the car has got his back. that is autonomous braking technology you saw at work there. that quick brake maneuver, the car did itself. the driver was looking over his shoulder and didn't notice the cars in front hit their the car braked for him. >> that's pretty cool, man. >> listen to this guy's reaction. >> good job. >> yeah! >> good job, mcclain! >> let's take a journey in churchill, manitoba. people are on these big trucks that are outfitted for

tesla may be on a roll but vw is trying to stay on the road.kswagen cutting 30,000 jobs the next five years as part of its turn around plan. volkswagen wants to boost earnings by $4 billion a year. they paid $20 billion in legal costs as part of its legal problems after rigging diesel vehicles to cheat emissions regulations worldwide. watch out netflix, amazon is going globe. they are preparing to expand its video service into 200 countries worldwide. more "countdown to the closing bell" right after this. how was your commute? good. yours? good. xerox real time analytics make transit systems run more smoothly... and morning chitchat... less interesting. xerox transportation services... ...soon to be conduent. thank you for calling. we'll be with you shortly. yeah right... xerox predictive analytics help companies provide a better and faster customer experience. hello mr. kent. can i rebook your flight? i'm here! xerox customer care services... ...soon to be conduent. wait i'm here! mr. kent? liz: we have breaking news. we're way waiting donald

the merger is necessary for tesla to reach its goal..... of being an integrated sustainalbe energy company. the county says it won't clean up a park covered in grafitti just yet -- because authorities are still working to figure out who put it there. someone painted obscenities at hollywood recreational park near sahara and hollywood a few days ago. parents were out there with their kids today -- but the ones we talked to said they were thankful their kids were too young to understand. bad we won't be coming back parents we talked to also said this was a good reminder for adults to always check out the situation around their children -- and not just spend time on cell phones. now... here are more stories.... we're following on 13 action news. 15:20:55-15:21:12 i'm parker collins a man reached out to me up he got something extra ashes for someone else it took las palomas funeral home several days to correct the mistake but marissa kynaston here-- at cameiro elementary school-- this is one of the schools on a list of nine-- that are being con

tesla is back in the spotlight... the latest on yet another deadly crash involving one of its over 80,000 wisconsin jobs lost to unfair trade. but senator johnson sided with corporate interests, calling for even more unfair trade, voting for special tax breaks for corporations shipping jobs overseas, ore tax shelter for himself. ron johnson's just not for us. senate majority pac is responsible high pressure setts to our east creating a nice sw breeze bringing in warmer air. highs today will get to near 60 again today and we continue to warm through the weekend with highs in the mid 60s both saturday and sunday. we stay mild on monday but slowly lose our perfectly sunny conditions. by monday night, we might see a few showers. we dry up again by early tuesday morning and we should have a nice election day. today: sunny. high: 60 wind: sw 5-10 mph tonight: clear. low: 44 wind: w up in a metal box is recovering this morning in south carolina. and a suspect is in custody in pennsylvania after shooting a walmart employee mu