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Elon Musk has informed banks that he will limit Twitters compensation and use tweets to generate revenue

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According to three individuals familiar with the situation, Elon Musk promised banks that agreed to help fund his $44 billion acquisition of Twitter Inc that he may cut executive and board compensation at the social media business to minimize expenses, and that he would discover new methods to monetize tweets.

According to the individuals, Musk made the pitch to bankers as he attempted to arrange funding for the buyout days after submitting his bid to Twitter on April 14. His financial pledges, which he submitted on April 21, were crucial in Twitter’s board accepting his “best and last” bid.

Musk would have to persuade banks that Twitter’s cash flow was sufficient to cover the loan he was seeking. In the end, he received $13 billion in loans guaranteed by Twitter, as well as a $12.5 billion margin loan secured by his Tesla equity. He promised to pay the remaining amount out of his pocket.

Asper to the sources, Musk’s pitch to the banks was more of a vision than a definite pledge, and the precise cost reduction he would seek once he buys Twitter is unknown. According to the sources, the proposal he detailed to banks lacked specificity.

Musk has tweeted about cutting the wages of Twitter’s board directors, which he claims will save the company $3 million. According to corporate documents, Twitter’s stock-based compensation for the 12 months ended December 31, 2021, was $630 million, up 33% from 2020.

Musk also used Twitter’s gross margin, which is substantially lower than peers like Meta Platform Inc’s Facebook and Pinterest, in his presentation to the banks, claiming that this gives plenty of room to run the firm more cost-effectively.

Because the topic is private, the sources requested anonymity. Musk’s spokesperson declined to comment.

According to Bloomberg News, Musk expressly highlighted job cutbacks in his pitch to the banks on Thursday. According to one of the insiders, Musk will not make any decisions about employment layoffs until he takes control of the firm later this year. He moved forward with the purchase despite not having access to private information about the company’s finances or headcount.

According to the individuals, Musk told the banks that he wants to build features to boost company income, including new methods to monetize tweets that contain significant information or go viral.

Elon Musk, according to sources familiar with him, will assist banks in selling syndicated loans to investors. According to reports, he may also reveal additional specifics about his Twitter business strategy later this year. The premium Blue service from Facebook now costs $2.99 ($3.99) per month. He has also hired a new CEO for Twitter, according to Reuters sources close to the company. Because of Musk’s unpredictability, several banks declined to participate in a $13 billion margin loan, according to the sources. By 2022, the loans would be worth seven times Twitter’s estimated revenues.

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The Navi Mumbai Collective Expresses Concerns About the Oversight of Development Plans

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Citizens are concerned about the oversight of  Development plans.

The Issue

A group of concerned individuals called the Navi Mumbai Collective has voiced concerns about the Navi Mumbai Municipal Corporation’s (NMMC) clearance procedure for the proposed Development Plan (DP). Indrani Basu, a group representative, claims that after presenting over 15,000 comments and objections, the updated DP was given to the State Government for clearance without proper thought.

The Navi Mumbai Collective, which consists of 38 individuals like as social workers, town planners, architects, and urban designers, carefully detailed their concerns in an 18-page statement. One of their main complaints is that the land allocation specifics are unclear, especially when it comes to the exclusion of current slums and the street vending zones that are required under the Street Vendors Act of 2014.

The apparent weakening of Coastal Regulation Zone (CRZ) regulations in the proposed DP is especially concerning. Significant environmental concerns are raised by the notable decrease in CRZ areas and buffer zones from water bodies, particularly in light of Navi Mumbai’s exposure to climate change effects like sea level rise.

In order to successfully reduce environmental concerns, architects Dulari Parmer and Dushant Batule stressed that it is inappropriate to incorporate the updated CRZ requirements into city-level design. Instead, they recommended that earlier laws be followed.

Furthermore, there has been harsh criticism directed at the lack of CRZ III designation and the management of eco-sensitive wetlands, which are vital habitats for migratory birds such as Flamingos. The biological relevance of these sites is well supported by data, however their protection is ignored in the Draft DP.

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The Killer Of The Ragpicker Was Caught By Police With The Help Of A Stray Dog

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After being caught in CCTV footage beside the culprit, a stray dog assisted Nerul police in solving the murder case of a ragpicker. A ragpicker’s body was discovered on April 13; he had been beaten with an iron rod and strangled with a cable wire, according to Tanaji Bhagat, senior inspector of Nerul. The dead body of the guy was found next to the vegetable market near the Nerul bus terminal. The ragpicker was being attacked by a man with an iron rod, according to CCTV footage captured in the area.

The attacker was accompanied by a stray dog that didn’t bark at him; it seemed like the dog belonged to the attacker. When we made inquiries in the area, a local pavement dweller pointed out the stray dog that was always with a man named Bhurya, who was also a ragpicker and frequently gave the dog food. On April 15, Inspector Bhagat stated that during a two-day search, the suspect, Bhurya, was taken into custody. He declared his name to be Manoj Prajapati (42).

In addition to gathering rags, he made money by performing menial tasks like cleaning vegetables merchants’ booths at the market. He admitted to beating the ragpicker to death when he used to sleep on the Nerul railway foot over bridge, then fatally attacking him for grabbing his money. Prajapati became so enraged with the ragpicker that he plotted and carried out the murder. Prajapati is now in judicial detention after being placed under arrest for three days. Inspector Bhagat also stated that the pavement dweller who recognized the stray dog that was with the accused has been called as a witness in the case.

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A Dead Fish Has Led To The Scrutiny Of Contaminated Water Samples From Airoli Creek

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Contaminated water samples are under inspection after fishes were found dead.

In Detail

Officials from the Maharashtra Pollution Control Board (MPCB) acted after a heartbreaking occurrence on Monday, April 22, where hundreds of fish died in chemically polluted water at the banks of Airoli Creek. They went to the location on April 23 to personally evaluate the circumstances.

Concerned villagers headed by Dinanath Patil gathered at the damaged area for inspection, accompanied by GS Patil, Thane District President of the All Maharashtra Fishermen Action Committee, Deputy Regional Officer Jayant Kadam, and Field Officer Sachin Adkar. Water samples from the polluted location were quickly taken and sent to the experimental school for in-depth investigation in an attempt to determine the reason for the fish fatalities. Deputy Regional Officer Jayant Kadam said that when these samples were examined, definitive conclusions about the cause of the occurrence will be made.

Furthermore, officials have promised to look into any possible links between religious rituals and environmental deterioration in light of the immersion of Ganapati and Goddess statues in the same body of water.

The event raised worries about the unregulated release of industrial waste into Navi Mumbai’s waterways, which increases pollution and endangers marine life. It is anticipated that immediate action will be taken to prevent more damage and protect the area’s natural balance.

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