Lehigh County pension board to stop buying Tesla stock, a first-in-the-nation move

Lehigh County pension board to stop buying Tesla stock, a first-in-the-nation move

Lehigh County’s pension fund board has voted to stop buying Tesla stock, saying billionaire owner Elon Musk has “compromised the Tesla brand” by focusing so much time on political activity as the company’s earnings decline. The board made the decision Tuesday in a 4-2 vote. According to Business Insider, it’s the first known pension board in the country to stop buying Tesla stock.  The board also told its investment manager to determine how the …

A county pension fund in Pennsylvania just became the first known to cease purchasing new Tesla stocks

The push back against Elon Musk's political activities are evolving beyond mass protests.Eduardo Munoz/REUTERSLehigh County's pension board voted to halt new Tesla stock purchases over Elon Musk.Tesla's revenue and shares have significantly declined, drawing widespread shareholder concerns.Global pension funds, including some in the Netherlands and Denmark, are divesting from Tesla.A swing county in Pennsylvania has decided that it will no longe…

1st US Public Pension Fund Divests from Tesla - DOL Cut Child Care to Push Employees Out - Hollywood Unions Open to Trump Tariffs

Folks, Greetings from Pittsburgh, where I just got back from attending a grant writing workshop hosted by the University of Pittsburgh. (Fingers crossed that we can get some more grants)YES! Magazine Closes after 30 Years in Business In a sign of how tough it is for independent journalism, earlier today, YES! Magazine announced that they were going to close after 30 years in business. “This decision comes after years spent exhausting every possi…

Tesla Faces Pension Fund Divestment Over Political and Financial Concerns

Tesla Inc. is experiencing significant financial and political pressure as the Lehigh County, Pennsylvania pension board voted to cease new investments in the company. The board, which manages $500 million in assets, made a decisive 4-2 vote to halt Tesla stock purchases. The decision stems from two primary concerns: CEO Elon Musk’s political involvement and the company’s deteriorating financial performance. Tesla has experienced a substantial 7…