7 Basic Materials Stocks to Buy to Anchor Your Portfolio

The movement of basic materials stocks requires investors to keep a keen eye on the state of the economy to determine profitability. Raw materials such as plastic, steel, and lumber will always be in demand. Here are 7 stocks to take advantage of the growing demand!

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Elon Musk's The Boring Company Faces Violations Over Las Vegas Tunnel Expansion For Endangering Monorail: Report

Rounak Jain
April 13, 2024

Elon Musk’s The Boring Company has been issued multiple violations by Clark County for its Las Vegas tunnel expansion project.

What Happened: The Boring Company, owned by Musk, has been accused of endangering the structural foundations of the Vegas Monorail, Fortune reported. The violations were issued by Clark County after workers mistakenly dug too close to the monorail’s supporting pillars.

These violations are linked to two incidents in June and October of the previous year. The June incident led to a temporary suspension of the monorail system, and the October incident raised concerns of a "potential hazard" but did not result in a shutdown.

See Also: ‘Storm Has Passed:’ Did Elon Musk Just Declare An End To Tesla’s Labor Strike Hurdles In Sweden?

This is not the first time The Boring Company’s safety practices have come under scrutiny.

In February, former employees reported feeling unsafe while working there. The company was also hit with safety violations, with workers experiencing chemical burns and potentially dangerous accidents.

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"We put the public at risk for anybody who was on that monorail at that time," said a former employee.

Why It Matters: The safety record of The Boring Company has been a cause for concern. A recent investigation revealed a lack of accountability, dangerous working conditions, and a series of injuries at its project sites. This latest development adds to the growing list of safety-related issues surrounding the company.

The Boring Company, founded by Musk, aims to revolutionize transportation through underground tunneling.

The company has been expanding its tunnel network in Las Vegas, including a 1.7-mile tunnel project to transport passengers beneath the Las Vegas Convention Center in Teslas, and the Vegas Loop, which is set to include the LVCC loop, and the airport, downtown Vegas, and more.

Despite these ambitious plans, the company’s safety practices have been under intense scrutiny, raising questions about its ability to ensure the safety of its workers and the public.

Check out more of Benzinga's Future Of Consumer Tech by following this link.

Read Next: Elon Musk Reacts As Grimes Shares ‘Cyberpunk 2077’ Clip on X: Duo Seem To Be Friendly Once Again After An Intense Child Custody Battle

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: Flickr

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