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By MICHAEL LIEDTKE

Elon Musk, already the world’s richest man, scored another huge windfall Friday when the Delaware Supreme Court reversed a decision that deprived him of a $55 billion pay package that Tesla doled out in 2018 as an incentive for its CEO to steer the automaker to new heights.

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Besides padding Musk’s current fortune of $679 billion, the restoration of the 2018 pay package vindicates his long-held belief that the Delaware legal system had overstepped its bounds in January 2024 when Chancellor Kathaleen St. Jude McCormick rescinded the compensation in a case brought by a disgruntled Tesla shareholder. read more

Kroger Co. has defaulted on its agreement with the City of Groveland, and city officials are demanding the company pay back $1.4 million by the end of January.

The city decided this week to seek the money it spent helping the national grocery chain open an eCommerce fulfillment center.

Kroger announced last month it closing the three-year-old facility, though its agreement with Groveland said it would operate for 15 years, providing at least 60 jobs. It ended up employing more than 900 people but failed to stick around.

The city wants its money back by Jan. 30.

As part of an incentive agreement, Groveland of waived building permit fees and offered tax rebates to Kroger.

“Failure of Kroger to maintain substantial operations at the project site constitutes a material breach in the agreement,” said Tim Maslow, the city’s Community and Economic Development Director, during the city’s council meeting Monday. “In other words, there is a claw-back mechanism.”

Kroger announced on Nov. 18 that it would be closing the facility at Ford Commerce Park by Feb. 1. The closure is set to impact about 935 on-site employees and nearly 500 others, many of them delivery drivers, stationed in Jacksonville, Rockledge and Tampa. read more

Five people have filed separate lawsuits against Universal Orlando Resort, claiming they suffered severe and permanent injuries — in some cases, bleeding of the brain, spinal cord damage and paralysis — after their heads slammed repeatedly against the seat in front of them while riding Stardust Racers at the new Epic Universe theme park.

It’s the same intense roller coaster that 32-year-old Kevin Rodriguez Zavala rode on the night of Sept. 17 and died shortly afterward.

Filed Thursday in Orange County, the lawsuits come just days after the attorney for Zavala’s family announced a confidential settlement and “amicable resolution” with the theme park regarding his death.

Witnesses said they saw Zavala’s head slam repeatedly against the seat in front of him during the ride, according to an Orange County Sheriff’s report released two days earlier.

The lawsuits also name Mack Rides, a German-based company that designed and manufactured Stardust Racers, as a defendant. The riders all seek more than $50,000 in damages, primarily to help pay for ongoing medical costs. read more

By DAMIAN J. TROISE, Associated Press

NEW YORK (AP) — Stocks gained ground on Wall Street Friday for a second straight day, wiping away losses from earlier in the week.

Technology stocks were once again the main force behind the market’s broader moves, especially companies with a focus on artificial intelligence. Both the S&P 500 and the Nasdaq closed out the week with gains, despite several stumbles early this week.

The S&P 500 rose 59.74 points, or 0.9%, to 6,834.50. It notched a 0.1% gain for the week. The Dow Jones Industrial Average rose 183.04 points, or 0.4%, to 48,134.89.

The technology-heavy Nasdaq made the biggest move. It rose 301.26 points, or 1.3%, to 23,307.62 and notched a 0.5% gain for the week.

Nvidia was the biggest force driving the market higher, with a 3.9% gain. Broadcom jumped 3.2%.

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Ford is recalling more than 270,000 electric and hybrid vehicles in the U.S. because of a parking function problem that could lead to them rolling away.

The Detroit automaker said that the recall includes certain 2022-2026 F-150 Lightning BEV, 2024-2026 Mustang Mach-E, and 2025-2026 Maverick vehicles. At issue is the integrated park module, which may fail to lock into the park position when the driver shifts into park.

Ford said that it will implement a park module software update for free.

Vehicle owners may contact Ford customer service at 1-866-436-7332 for additional information.

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Tesla CEO Elon Musk recovers $55 billion pay package in Delaware court ruling

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Stocks rise on Wall Street as AI stocks turn higher again

read more