*By Jeffrey Marcus*
Tesla's chairman and CEO Elon Musk escaped an attempt by some shareholders Tuesday to strip him of one of his jobs running the electric car company he founded 15 years ago. Musk will remain as chairman after he fended off an effort by an investor group to remove him and oust three board members loyal to him, including Musk's brother Kimbal.
The vote failed by a "super majority," the company said, which is not surprising. Any vote would take two-thirds to pass, and Musk himself reportedly owns one-fifth of the company's shares.
Other developments from the shareholders meeting include:
* Tesla announced plans to build a factory in China, a move that would allow the car company to avoid import tariffs there. The Chinese government recently announced it would allow electric car makers to own factories in China without a domestic partner. Tesla's head of global sales, Robin Ren, said the factory would be in Shanghai, and Musk said the factory would assemble cars and build batteries in the same place, [CNBC reported](https://www.cnbc.com/2018/06/05/tesla-talks-shanghai-factory-at-shareholder-meeting.html).
* With the help of a new third assembly line at the company's California factory, Musk said Tesla will likely be able to produce 5,000 Model 3 vehicles a week by the end of June. The plant is already producing an average of 3,500 week, he said, and the grueling months-long effort to ramp up production has been worth it. "It's been the most excruciating, hellish months I've maybe ever had, but I think we're getting there," Musk said [according to The New York Times](https://www.nytimes.com/2018/06/05/business/tesla-once-a-wall-street-darling-faces-investor-challenge.html).
* Despite fatal crashes involving Tesla's Autopilot feature, the company is pressing ahead, even offering free trials for customers who are not certain they want to spend another $5,000 on a non-existent chauffeur, [Wired magazine](https://www.wired.com/story/elon-musk-tesla-shareholders-meeting/) reported.
* New models are on deck, including the all-wheel drive Model 3, expected to begin limited production later this year; the Model Y, which will go into production in 2020; and the semi truck and the new roadster expected around the same time.
* Musk did not lash out the way he did during Tesla's quarterly earnings call last month, when he antagonized analysts and institutional investors. But it was still an emotional shareholders meeting for Musk, who had his authority challenged and his vision questioned. He got a little choked up, [Reuters reported](https://www.reuters.com/article/us-tesla-shareholders/teslas-musk-says-quite-likely-will-meet-model-3-goal-directors-re-elected-idUSKCN1J12YT). "At Tesla we build our cars with love," Musk said. "At a lot of other companies, they're built by marketing or the finance department and there's no soul. We're not perfect, but we pour our heart and soul into it and we really care."
Watch [video](https://www.tesla.com/shareholdermeeting) of the full shareholders meeting on Tesla's website. For the full interview, [click here](https://cheddar.com/videos/elon-musk-lives-to-fight-another-day-as-chairman-of-tesla).
Colleen Kelly, CEO of Concern Worldwide US, joined Cheddar to discuss food insecurity concerns as the cost of this year's Thanksgiving dinner has surged amid record inflation. Kelly also talked about the ongoing issues derailing global supply chains and raising food prices, which undercuts efforts to tackle food insecurity in the United States and around the world. "Everything that hits the U.S. hits countries that are in extreme poverty even harder, and as you can imagine there were three major things affecting this in the last year: climate change, COVID, and conflict," she said.
Papa Johns has a new look for its logo, graphics, and storefronts. CEO Rob Lynch joined Cheddar's "Closing Bell" to talk about the timing of the rebrand following its ongoing success through the pandemic. Patrons entering revamped locations will notice a lack of menu boards thanks to customer smartphone use and glass panels to allow customers to watch pizzas being made by hand. "Everyone has a menu board in their pocket in the form of their phone," Lynch said. "Eighty percent of our business is ordered digitally, whether it's web-based or our fastest-growing channel being app-based."
In a surprise turn of events, Elizabeth Holmes took the stand in her own defense on Friday and is expected to continue her testimony later today. Holmes, who founded a blood testing start-up Theranos back in 2003, faces 11 counts of wire fraud as well as conspiracy to commit wire fraud. Aron Solomon, Chief Legal Analyst, Esquire Digital joined Cheddar's Opening Bell to discuss.
NFL Hall of Famer Jerry Rice and his daughter/business partner Jaqui Rice Gold joined Cheddar's "Between Bells" to talk about their energy drink G.O.A.T. Fuel. The pair talked about launching the brand during the height of the pandemic and what makes it different from competing brands. "The thing that separates us from the other energy drinks is we have cordyceps mushrooms in the drink," he said. "You're not going to have the jitters or anything like that." The duo also discussed the Los Angeles Lakers making it the official energy drink of its organization and what that means for the growth of the brand.
Rapper and singer T-Pain is teaming up with Google this holiday season to encourage shoppers to support Black-owned businesses on Black Friday. Stephanie Horton, the director of marketing for Google Shopping, joined Cheddar to provide some details about T-Pain's new song, featuring Normani, in a new shoppable interactive film for the promotion. She also explained how Google worked with local artists in various states to create shoppable murals, where products seen in the artwork are discoverable online by simply pointing your camera at it.
Caleb Silver, the Editor-in-Chief for Investopedia, joined Wake Up With Cheddar to break down the latest in the Activision Blizzard sexual misconduct scandal. After 1,700 of the embattled video game maker's employees signed a petition demanding CEO Bobby Kotick step down, Kotick reportedly said he would step down if he can't turn the toxic workplace culture around quickly. Silver noted that the allegations go back years with settlements and lawsuits that indicate Kotick would have to be claiming ignorance of his own business or deliberately obfuscating his knowledge of what happened under his watch.
An Apple memo is apparently encouraging its employees to feel comfortable to freely discuss workplace concerns like wages and paid time off following allegations that employees were fired for communicating about issues of pay, workplace safety, and harassment.
