DETROIT — Tesla Motors shares dropped Monday after reports of a second fiery crash involving the company’s Model S electric car.
On Oct. 17 in Merida, Mexico, a Model S sped into a roundabout, crashed through a concrete wall and hit a tree. The driver fled before the car went up in flames. The U.S. automotive Web site Jalopnik reported the story Monday, citing the Mexican newspaper Progreso Hoy.
Tesla responded that the Model S protected the driver despite the severe, high-speed crash.
On Oct. 2, a Model S burned after hitting road debris in Kent, Wash.
The National Highway Traffic Safety Administration doesn’t plan to investigate the Oct. 2 incident because there is no indication that it was caused by a safety defect or that the Model S is violating federal safety standards. The agency doesn’t investigate accidents outside the U.S.
Tesla shares fell 4 percent to close at $162.86. They have fallen 16 percent since the Oct. 2 crash. — AP
NEW YORK — Martha Stewart Living Omnimedia Inc. has named board member Daniel W. Dienst as its CEO.
Dienst takes over the post from Lisa Gersh, who stepped down in December after less than a year on the job.
Dienst most recently served as CEO of Sims Metal Management Ltd, which he helped guide through the recession after the sale of its predecessor company to Sims. — AP
LAS VEGAS — Las Vegas’ resurgent downtown welcomed its newest addition over the weekend.
The Downtown Grand hotel-casino aims to introduce an element of luxury among the retro casinos that populate old Las Vegas.
The Grand welcomed its first guests Sunday. — AP
NEW YORK — Samsung says its new Galaxy Gear computerized watch will be compatible with several older phones through a software update.
One big flaw with the $300 Gear is that in the U.S., it’s compatible only with the new Galaxy Note 3 phone, which costs another $300 with a two-year service agreement. Last week, Samsung Electronics Co. said the Gear will also work with the Galaxy S4 Mini when that comes out next month.
On Monday, Samsung said it will also make the update available for the S III, S4 and Note II in the coming weeks and the S4 Active and Mega phones in the coming months.
The Gear displays message alerts and other information on the wrist. — AP