The Seattle City Council passed a new law that will require companies making more than $20 million a year to pay a 'head tax.' Amazon and other Seattle-based companies will pay a tax of 14 cents per employee per hour worked, which comes out to roughly $275 per employee each year. The tax will raise money for affordable housing since home prices have risen recently in Seattle. In response, Amazon's vice president said this move "forces us to question our growth here." A Starbucks exec criticized the city for spending "without reforming and fail[ing] without accountability."
A number of top Tesla executives have left the company in the past few months. Aaron Cole, managing editor at Motor Authority, joins us to discuss whether investors should be worried that this 'drain brain' will have negative consequences for the electric carmaker. The company is ramping up production to meet its ambitious Model 3 targets.
Cheddar's Brad Smith speaks with Joe Gibbs, Pro Football Hall of Famer and owner of Joe Gibbs Racing, at a special event outside the New York Stock Exchange celebrating Stanley Black & Decker's 175th anniversary. Gibbs talks about how NASCAR is focusing on expanding its digital outreach to reach a younger audience. He also weighs in on the Supreme Court's decision to reverse a ban on sports gambling.
