
Researchers, advocacy group team up to map Surrey's toxic drug crisis
AI is a game changer for students with disabilities. Schools are still learning to harness itTesla investor Ross Gerber doesn't think Elon Musk's ties to Donald Trump will benefit the EV maker. The longtime Tesla bull thinks the car company has a number of problems to sort through. Gerber says Tesla stock should be trading around $200, about 40% lower than current levels. Elon Musk spent immense money and energy helping Donald Trump retake the White House, but the Tesla CEO's new political influence may not do much to boost the fortunes of his carmaker, one of the company's longtime backers said. Ross Gerber, a Tesla bull and the president of Gerber Kawasaki Wealth & Investment Management, thinks the electric vehicle maker faces big challenges ahead, even as optimism about Musk's ties to Trump has excited investors and sparked a sharp rally in Tesla stock since the election. Traders are hopeful that Musk's close ties to the president-elect — which ultimately landed the Tesla CEO a new government role — could sway important policy decisions in favor of Tesla. But that doesn't solve the problems Tesla has been struggling with for years, Gerber said, pointing to concerns surrounding the success of Tesla's car business, and whether its new ride-hailing platform or artificial intelligence projects will amount to much. In Gerber's view, Tesla shares should be trading around $200, implying 40% downside from the stock's closing price of $338.23 on Tuesday. Gerber said his fund, which began cutting its stake in Tesla in late 2023, continues to sell the stock in small amounts, keeping Tesla's concentration in its portfolio to just 2%. The fund sold nearly 16,000 shares in the third quarter, though the total value of its remaining stake rose to $71 million, regulatory filings show. "We're still selling it," Gerber told Business Insider. "I used to have a 10%, 12%, even 20% stake in Tesla at some point in my life where it was like, Tesla was taking us to the moon kind of thing. And I just think its best days are behind it." It's worth noting that Tesla handily beat third-quarter earnings estimates, soothing some investor concerns after a tough start to the year. Countering Gerber's views, some also see Musk's new political influence as a big win for his companies. "The biggest winner from a Trump White House remains Tesla and Musk which made a strategic big bet on Trump that will pay major dividends for years to come," Wedbush Securities analyst Dan Ives wrote following the election. Skeptical of the tech Gerber believes Tesla's technology has plateaued in recent years, and Musk's ties to Washington won't help that. He pointed to issues with Tesla's full self-driving technology, which he's been using nearly every day for the last three years. "So the ultimate reality for full self-driving is it doesn't work, and the precision isn't good. And vision-only systems have flaws that I don't think Elon wants to admit." Gerber thinks the tech issues will persist, partly because Musk looks poised to devote more of his time to his role in the Department of Government Efficiency. Beginning with the acquisition of X, Gerber, in recent years, has been a vocal critic of what he sees as Musk's neglect of his core companies, primarily Tesla . "He doesn't work at Tesla. I mean, let's be real, "Gerber said. We all know where Elon is right now, and he's at Mar-a-Lago. So he hasn't worked at Tesla for a long time." Gerber is also concerned about some of the projects within the company. He pointed to Tesla's ride-hailing platform, which will be competing with more established companies like Uber and Waymo. "Why does it deserve this premium?" he said of the stock. "I get that Elon is now vice president of the United States, but that doesn't necessarily help Tesla." Trump's transition team has signaled that it would end the $7,500 tax credit for EVs— a move that Musk supports —but even that's unlikely to be a bullish catalyst for the company, Gerber said. Musk has said that repealing the tax credit would be more harmful to Tesla's rivals, but Gerber's firm has estimated that Tesla sales could drop around 25% if the tax credit was no longer available. That would be "devastating" to Tesla's business, he said, given that the company has already slashed prices on some of its models in the face of uncertain EV demand in recent years. "If the EV tax credit goes, that would be an extreme negative I would have to react to," Gerber said, adding that it was his biggest concern at the moment. Previously, Gerber told BI he would consider completely closing his position in Tesla by the end of the year if its business didn't improve, or if Musk didn't refocus his attention on his companies. Gerber has since adjusted his view and said he would continue to hold Tesla as a small investment in his portfolio, mostly out of bullishness on EVs in general. "Certainly if you want to get out of Tesla, it's a great opportunity," Gerber said, later adding that he was in "wait-and-see" mode. "And if you're a buyer of Tesla, boy, you're paying a lot for hope." Tesla did not respond to a request for comment from Business Insider.
There was a roughly 10% increase in the number of lobbyists who registered for the 2023-24 session compared to the previous one — for a record of 3,245 people, according to the Secretary of State’s office. What’s behind the jump? Longtime lobbyist Chris Micheli sees it as the result of high turnover in the Legislature — leading to an “exodus of legislative staff” who went into advocacy. In what was dubbed the Great Resignation of 2022, for example, 26 members opted out of seeking re-election , in addition to the seven who reached term limits. Micheli said he has also seen a rise in state agency rule-making, which motivates those in support of or against regulations to lobby: “Some of these regulatory bodies, like the Air Resources Board — the number of regulations that they’re undertaking and their significance has been growing in recent years.” Meanwhile, the number of legislative staff has shifted only slightly since the mid-1990s, according to data from the National Conference of State Legislatures. The staff count can impact how much time members have to write and research legislation. The increase in lobbyists means there’s now at least one lobbyist for every staff member, compared to two staffers per lobbyist back in 1995, the earliest data available from the Secretary of State’s office. “The fact that the number of registered lobbyists has risen so high and outstrips the number of actual staffers that legislators have to help them with people’s work shows how skewed our system has become towards the interests of wealthy interests that also dominate campaign spending, rather than regular people,” emailed Trent Lange, executive director of California Clean Money Campaign — an advocacy group that aims to combat the influence of money on politics. Lobbyists are required to register with the Secretary of State’s office, and report on their activities each quarter. That’s according to the state’s Political Reform Act , which passed in the aftermath of the Watergate scandal in 1974 in an effort to combat political corruption. The law defines lobbyists as those who are paid to influence legislation or regulation through direct communication with lawmakers, outside of public comments. They can be hired as contractors by companies, or work to influence policy as an employee, although those who spend less than one-third of their time lobbying don’t have to register. Lawmakers and those who work for state agencies legally must wait one year after leaving state jobs before working as lobbyists. Legislative staff do not have that requirement. The recent jump in new lobbyists was the highest since 2011 , when a law signed by then-Gov. Arnold Schwarzenegger went into effect requiring placement agents — financial officers who solicit investments from the state workers’ and teachers’ retirement funds — to register as lobbyists. The law nearly doubled the number of registered lobbyists, from 1,237 for the two-year session ending in 2010 to 2,353 in 2012. The second highest bump came in the session that ended in 2020, with 257 more registered lobbyists compared to the session before, according to the Secretary of State’s office. The rise in the number of lobbyists coincides with an uptick in money spent on lobbying, with industry and advocacy groups spending record amounts each year since 2022 . Spending to lobby California legislators hit nearly $420 million in just the first nine months of 2024, compared to $484 million in all of 2023 and $443 million in the entirety of 2022. Included in the recent boost: a summer lobbying blitz by Google to influence whether it would have to pay news outlets for publishing their content. Jonathan Mehta Stein, executive director of the good governmental advocacy group California Common Cause, labeled it “absolutely wild” that nearly $1 billion was spent on lobbying last session. “Sometimes people in the capitol community,” he said, “lose sight of how staggering it would be to their constituents if they knew how much money is spent to, in many cases, divert policy decisions away from the reason everyone originally went to Sacramento, which is to serve the public interest without fear or favor.”The Borno State Government has approved N1.6 billion for the rehabilitation of 33 educational institutions affected by the recent floods in the state. The funding is aimed at restoring critical educational infrastructure and providing safe, conducive learning environments for students in the flood-impacted areas. Alhaji Lawan Abba-Wakilbe, the State’s Commissioner for Education, Science, Technology, and Innovation, made the announcement on Saturday, noting that the affected schools are spread across Maiduguri, Jere, Mafa, Konduga, Chibok, and Damboa local government areas, as reported by the News Agency of Nigeria. Related Stories Blackout in Borno, Yobe as vandals destroy Gombe-Maiduguri transmission three months after repair FG to partner private sector to create disaster relief fund, targets FAAC allocation “Borno Government says it has approved N1.6 billion for the rehabilitation of 33 educational institutions affected by the recent floods in the state. “The affected schools cut across Maiduguri, Jere, Mafa, Konduga, Chibok, and Damboa local government areas of the state. “Alhaji Lawan Abba-Wakilbe, the Commissioner for Education, Science, Technology, and Innovation announced this on Saturday in Maiduguri,” the NAN report read in part. Abba-Wakilbe noted that the rehabilitation effort is part of a broader plan to address the damages caused by the floods, which have disrupted education for many students in the state. The Commissioner emphasized the government’s strong commitment to restoring learning facilities and ensuring uninterrupted education. He noted that the N1.6 billion will be allocated directly to the affected schools through the School-Based Management Committees (SBMCs), which will oversee the implementation of the School Improvement Plan (SIP) for each institution. Abba-Wakilbe stressed that the committees have earned a reputation for effectively managing previous projects, and they will ensure that the rehabilitation funds are used efficiently. The amount allocated to each school will be determined based on the level of damage sustained. The Commissioner also announced that the rehabilitation initiative will extend beyond the schools to include the state’s Library Board and the Scholarship Board, further strengthening the restoration of educational resources across Borno. Abba-Wakilbe stressed that the Borno State Ministry of Education, Science, Technology, and Innovation has set up a monitoring team to ensure the proper use of the funds. To enhance transparency, he revealed that plans are also underway to engage an auditor and financial consultant to oversee the process. The Commissioner urged school management without operational accounts to open them promptly to facilitate the fund distribution. The report also noted that the announcement has received widespread support from educators and parents, with many expressing optimism that the rehabilitation efforts will help students return to a safer, more stable learning environment.
Heavy rain on Tuesday night and throughout the day Wednesday undoubtedly helped ease the drought conditions that currently exist across the state of New Hampshire. Some communities picked up over two inches of rain, with the heaviest rain reported in Jefferson, where more than three inches of rain fell. >> Interactive Radar Rivers are higher now in that part of the state given the rainfall and snowmelt. >> Download the free WMUR app to get updates on the go: Apple | Google Play > Watch as Hayley LaPoint breaks down what has been a relatively rainy December in Concord: Be weather-aware! Download the WMUR app for Apple or Android devices and turn on push notifications. You can choose to receive weather alerts for your geolocation and/or up to three ZIP codes. In addition, you can receive word when precipitation is coming to your area. Get storm coverage through the free Very Local app on your smart TV. Follow the Storm Watch 9 team on social media:American cops are using AI to draft police reports, and the ACLU isn't happyCaprock Group LLC boosted its stake in HubSpot, Inc. ( NYSE:HUBS – Free Report ) by 16.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 673 shares of the software maker’s stock after buying an additional 97 shares during the quarter. Caprock Group LLC’s holdings in HubSpot were worth $358,000 as of its most recent filing with the SEC. Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of HubSpot in the second quarter worth $35,000. HM Payson & Co. lifted its holdings in HubSpot by 36.0% in the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after purchasing an additional 18 shares in the last quarter. Crewe Advisors LLC boosted its stake in shares of HubSpot by 525.0% during the 2nd quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock worth $44,000 after purchasing an additional 63 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of HubSpot by 690.9% during the second quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock worth $51,000 after buying an additional 76 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of HubSpot by 41.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker’s stock valued at $64,000 after buying an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock. Analysts Set New Price Targets Several analysts have commented on HUBS shares. Raymond James lowered their target price on shares of HubSpot from $725.00 to $675.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Truist Financial reaffirmed a “buy” rating and issued a $750.00 price objective (up previously from $600.00) on shares of HubSpot in a research report on Friday, November 8th. The Goldman Sachs Group increased their target price on HubSpot from $626.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup lowered their price target on HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Piper Sandler lowered shares of HubSpot from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $570.00 to $640.00 in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $672.68. Insider Buying and Selling at HubSpot In other news, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at approximately $33,009,441.57. This trade represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Also, insider Dawson Alyssa Harvey sold 573 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $700.00, for a total transaction of $401,100.00. Following the completion of the sale, the insider now directly owns 7,603 shares in the company, valued at $5,322,100. This represents a 7.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders sold a total of 44,391 shares of company stock worth $29,101,488 in the last 90 days. 4.50% of the stock is owned by corporate insiders. HubSpot Trading Up 3.1 % Shares of HUBS stock opened at $742.61 on Friday. The firm has a fifty day simple moving average of $575.54 and a 200-day simple moving average of $551.49. The company has a market capitalization of $38.33 billion, a PE ratio of -2,750.31, a price-to-earnings-growth ratio of 87.52 and a beta of 1.63. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $745.49. HubSpot ( NYSE:HUBS – Get Free Report ) last posted its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.27. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The company had revenue of $669.72 million during the quarter, compared to analysts’ expectations of $646.97 million. During the same period in the prior year, the company posted ($0.04) EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. Equities research analysts predict that HubSpot, Inc. will post 0.4 EPS for the current year. HubSpot Company Profile ( Free Report ) HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content. Recommended Stories Receive News & Ratings for HubSpot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HubSpot and related companies with MarketBeat.com's FREE daily email newsletter .Red Wings hire former Sharks head coach McLellan after firing Lalonde