Now that we have a new thread, in order to ensure that this thread continues to meet TL standards and follows the proper guidelines, we will be enforcing the rules in the OP more strictly. Be sure to give them a complete and thorough read before posting!
NOTE: When providing a source, please provide a very brief summary on what it's about and what purpose it adds to the discussion. The supporting statement should clearly explain why the subject is relevant and needs to be discussed. Please follow this rule especially for tweets.
Your supporting statement should always come BEFORE you provide the source.
Tesla is likely to face investigation by US securities market regulators following the CEO Elon Musk’s extraordinary tweet that he had “funding secured” to take the company private, according to a media report.
Shares in the money-losing carmaker sharply in New York to after the Wall Street Journal reported that the Securities and Exchange Commission is making “inquiries” and quoted former SEC lawyers as saying that investigators were looking for documentation to back up Musk’s claims.
According to the Journal, the SEC’s inquiries originate from the agency’s San Francisco office. The SEC declined to comment. If Musk’s claim turns out to be false, he risks civil and possible criminal penalties.
Shares dipped again after Bloomberg reported regulators had been looking into Tesla prior to Musk’s tweets and were now intensifying their scrutiny of Tesla Inc.’s public statements, including statements on manufacturing goals and sales targets.
Musk tweeted that he had secured enough funding to take Tesla private, which he felt was necessary to "assure success". Well he better have been telling the truth because that is a crime if he wasn't. And there is no reason for that tweet beyond his own ego. Or he was trying to gin up interest in the stock by saying he was going to buy everyone out, which is a crime.
Musk's ego makes him really stupid. Like this is amateur hour shit.
Politicians are allowed to make shit up on Twitter to own the libs. Officers of a publicly traded company are NOT allowed to make shit up to own the shorts. Because that would be security fraud. Elon could actually be fucked, and he was doing kinda better after the last conference call...
There's maybe a dozen entities with the sort of cash money to back a deal like this. And for that much cheddar you could buy any of the major automakers you wanted and have $10 billion to invest in EV R&D.
All "major" automakers are 200$mld+. Also 82mld mentioned in relation to Tesla sounds like huge overestimation. Both in terms of cars sold, owned facilities, employeed people etc. The number wiki mentions is 28mld, which sounds more realistic.
Do you mean million or billion?
For the 82 billion its the price of all their shares issued x 420 + debt currently on the books
Some languages other than english (german for example) have a milliard as 10^9, and a billion as 10^12. (And billiard as 10^15, trillion as 10^18 etc...)
It is kind of weird that something like that is different in different languages, especially using the same word to mean different things.
On August 10 2018 07:18 Simberto wrote: Some languages other than english (german for example) have a milliard as 10^9, and a billion as 10^12. (And billiard as 10^15, trillion as 10^18 etc...)
It is kind of weird that something like that is different in different languages, especially using the same word to mean different things.
It's one of those linguistic quirks where if enough people make the same intuitive mistake it becomes an accepted alternative, with time even the predominant or only version.
At least in the case of billion it's usually obvious from context. The worst one is biweekly, which means both twice a week and once every two weeks, with no way to tell which one it is unless specified.
Tesla is likely to face investigation by US securities market regulators following the CEO Elon Musk’s extraordinary tweet that he had “funding secured” to take the company private, according to a media report.
Shares in the money-losing carmaker sharply in New York to after the Wall Street Journal reported that the Securities and Exchange Commission is making “inquiries” and quoted former SEC lawyers as saying that investigators were looking for documentation to back up Musk’s claims.
According to the Journal, the SEC’s inquiries originate from the agency’s San Francisco office. The SEC declined to comment. If Musk’s claim turns out to be false, he risks civil and possible criminal penalties.
Shares dipped again after Bloomberg reported regulators had been looking into Tesla prior to Musk’s tweets and were now intensifying their scrutiny of Tesla Inc.’s public statements, including statements on manufacturing goals and sales targets.
Musk tweeted that he had secured enough funding to take Tesla private, which he felt was necessary to "assure success". Well he better have been telling the truth because that is a crime if he wasn't. And there is no reason for that tweet beyond his own ego. Or he was trying to gin up interest in the stock by saying he was going to buy everyone out, which is a crime.
Musk's ego makes him really stupid. Like this is amateur hour shit.
Politicians are allowed to make shit up on Twitter to own the libs. Officers of a publicly traded company are NOT allowed to make shit up to own the shorts. Because that would be security fraud. Elon could actually be fucked, and he was doing kinda better after the last conference call...
There's maybe a dozen entities with the sort of cash money to back a deal like this. And for that much cheddar you could buy any of the major automakers you wanted and have $10 billion to invest in EV R&D.
I did a double take when I saw the tweet and couldn’t believe he said it. But then I doubted myself, thinking that maybe I was over reacting. I’m glad to see that gravity still applies in these situations.
On August 10 2018 05:29 Plansix wrote: Elon Musk getting investigation by the SEC for tweeting about taking Tesla private has just made my day. That man is a walking unforced error at this point.
All he has to do is not be lying about having funding secured... He wouldn't lie about that now would he?
He better have those funds ready at the time he made that tweet, paperwork signed. Otherwise he could be in some deep shit.
nothing is going to happen to Elon, who are you kidding? and do you follow Elon's twitter, or did you "do a double take" after seeing a news article with the tweet?
I was watching some TED presentations and thought the above about mountaintop removal mining for coal was interesting. A lot of effort was put in by the Trump campaign to talk about mining coal and how good it would be for the areas. This presenter argues that it would worsen the situation for the areas even more compared to the current level.
It is interesting how profits and norms work against these type of issues. Lead, asbestos, tobacco and global warming are just some recent cases of a similar type. Does any of you have suggestions on how to get these type of changes accepted and start the change earlier?
(Reuters) - Tesla Inc’s (TSLA.O) board has not yet received a detailed financing plan from CEO Elon Musk, and is seeking more information about how he will take the U.S. electric car maker private in a proposed deal worth $72 billion, people familiar with the matter said on Thursday.
While Tesla’s board has held multiple discussions about Musk’s proposal, which first became public on Tuesday, it has not yet received specific information on who will provide the funding, one of the sources said.
Tesla declined to comment.
Musk, a 47-year-old investor and engineer, stunned financial markets on Tuesday, when he revealed on Twitter he was considering a take-private deal for Tesla, an auto manufacturing pioneer that developed the world’s first ever premium all-electric sedan car.
The move came after months of Musk battling investors, journalists and analysts over whether Tesla could turn a profit and produce enough of the mass market model of is flagship electric car to meet demand.
Musk said in a tweet on Tuesday that he had secured financing for the deal, but he did not publicly provide further details.
Speculation has swirled among shareholders and investment bankers about who could fund a deal of that size, especially given that the company’s bonds are already rated junk by credit rating agencies.
The U.S. Securities and Exchange Commission has contacted Tesla to ask about Musk’s assertion on Twitter that funding for his proposed deal was “secured”, the Wall Street Journal reported on Wednesday.
The revelation that the board is seeking more details from Musk could raise new questions about how he plans to finance the deal at his proposed price of $420 per share.
After jumping to close at $379.57 on Tuesday, Tesla shares have since fallen about 7 percent to end trading at $352.45 on Thursday, amid investor skepticism over the deal’s prospects.
In a statement on Wednesday, Tesla’s board said its discussion with Musk “addressed the funding” for the deal, without offering more details.
The board expects to make a decision on whether to launch a formal review of Musk’s proposal in the coming days, and is speaking to investment bankers about hiring financial advisers to assist it in its review in such scenario, the sources said.
If the board launches a formal review of Musk’s bid, he would have to recuse himself, or a special board committee would have to be formed, according to the sources, who requested anonymity because the deliberations are confidential.
The exact information that Musk communicated to the board about his plan could not be learned
uk.reuters.com This doesn't look good at all. If the board doesn't even know funding isn't secured it probably isn't. Not to mention that he'd have to recuse himself.
Tesla is likely to face investigation by US securities market regulators following the CEO Elon Musk’s extraordinary tweet that he had “funding secured” to take the company private, according to a media report.
Shares in the money-losing carmaker sharply in New York to after the Wall Street Journal reported that the Securities and Exchange Commission is making “inquiries” and quoted former SEC lawyers as saying that investigators were looking for documentation to back up Musk’s claims.
According to the Journal, the SEC’s inquiries originate from the agency’s San Francisco office. The SEC declined to comment. If Musk’s claim turns out to be false, he risks civil and possible criminal penalties.
Shares dipped again after Bloomberg reported regulators had been looking into Tesla prior to Musk’s tweets and were now intensifying their scrutiny of Tesla Inc.’s public statements, including statements on manufacturing goals and sales targets.
Musk tweeted that he had secured enough funding to take Tesla private, which he felt was necessary to "assure success". Well he better have been telling the truth because that is a crime if he wasn't. And there is no reason for that tweet beyond his own ego. Or he was trying to gin up interest in the stock by saying he was going to buy everyone out, which is a crime.
Musk's ego makes him really stupid. Like this is amateur hour shit.
Politicians are allowed to make shit up on Twitter to own the libs. Officers of a publicly traded company are NOT allowed to make shit up to own the shorts. Because that would be security fraud. Elon could actually be fucked, and he was doing kinda better after the last conference call...
There's maybe a dozen entities with the sort of cash money to back a deal like this. And for that much cheddar you could buy any of the major automakers you wanted and have $10 billion to invest in EV R&D.
All "major" automakers are 200$mld+. Also 82mld mentioned in relation to Tesla sounds like huge overestimation. Both in terms of cars sold, owned facilities, employeed people etc. The number wiki mentions is 28mld, which sounds more realistic.
If he wants to buyback Tesla for 420$ a stock as promised it is 82B $ total he needs for that. There is not much to argue about.
And not sure where you got your "all major automakers are 200B $+" from... Market values from last year... So Tesla is the highest valued car manufacturer in the US, 4th highest in the world, only Toyota is above 100B $ at 160B $.
Now one can argue about how absurd those evaluations are. But if you want to privatize a car company by buying (back) all stocks, Tesla is pretty much amongst the most ambitious targets.
PS: Anyone surprised why most of the financial world has shorts on Tesla?
Daimler has 15 times revenue 10 times the assets, cars sold and emploeeys and compared to Tesla is actually making money not losing. Similiar for BMW, Ford, Toyota etc. Tesla is a dwarf compared to "major" automakers, the fact that its stock prize is so high means only its overvalued.
Daimler has 15 times revenue 10 times the assets, cars sold and emploeeys and compared to Tesla is actually making money not losing. Similiar for BMW, Ford, Toyota etc. Tesla is a dwarf compared to "major" automakers, the fact that its stock prize is so high means only its overvalued.
So what?
The evaluation at the stock exchanges is as it is. The conversation was about privatizing/acquiring a car company by buying it's stocks.
Because someone thinking about taking company off market will look at the exact same stats (and many more) to decide if this company is actually worth the money he is about to pay, if he will get enough bang for his buck. Trading stock is one thing, funds and markets do not generally care for actual assets behind stocks as long as company is staying afloat. They make money on stocks. But when You are taking compan off market actual assets is the thing You care about. In that regards Tesla is much smaller than "major" carmakers. Hence i dubt it being bought out.That would be bad investment for this price unless investor belives there is some huge oportunity for growth or hidden strenght.
Edit:I forgot about one more reason why someone my be buying company for more than its actualy worth - that reason being of course politics. I can very easyli see China or Arab states making thath kind of investment if they think it will give them some sort of political edge.
It was only a matter of time that one of his stupidities would fire back massively. I am a big fan of SpaceX but the rest of his endeavors are just so fucking stupid. I guess Tesla did start interest in electric cars and might even survive this shit, even though i think they will need to be assisted by the government to stay afloat. And maybe we won't get flamethrowers or Rockets used to travel to other cities on earth for a while. yay.
Tesla is likely to face investigation by US securities market regulators following the CEO Elon Musk’s extraordinary tweet that he had “funding secured” to take the company private, according to a media report.
Shares in the money-losing carmaker sharply in New York to after the Wall Street Journal reported that the Securities and Exchange Commission is making “inquiries” and quoted former SEC lawyers as saying that investigators were looking for documentation to back up Musk’s claims.
According to the Journal, the SEC’s inquiries originate from the agency’s San Francisco office. The SEC declined to comment. If Musk’s claim turns out to be false, he risks civil and possible criminal penalties.
Shares dipped again after Bloomberg reported regulators had been looking into Tesla prior to Musk’s tweets and were now intensifying their scrutiny of Tesla Inc.’s public statements, including statements on manufacturing goals and sales targets.
Musk tweeted that he had secured enough funding to take Tesla private, which he felt was necessary to "assure success". Well he better have been telling the truth because that is a crime if he wasn't. And there is no reason for that tweet beyond his own ego. Or he was trying to gin up interest in the stock by saying he was going to buy everyone out, which is a crime.
Musk's ego makes him really stupid. Like this is amateur hour shit.
Politicians are allowed to make shit up on Twitter to own the libs. Officers of a publicly traded company are NOT allowed to make shit up to own the shorts. Because that would be security fraud. Elon could actually be fucked, and he was doing kinda better after the last conference call...
There's maybe a dozen entities with the sort of cash money to back a deal like this. And for that much cheddar you could buy any of the major automakers you wanted and have $10 billion to invest in EV R&D.
I did a double take when I saw the tweet and couldn’t believe he said it. But then I doubted myself, thinking that maybe I was over reacting. I’m glad to see that gravity still applies in these situations.
On August 10 2018 05:30 IyMoon wrote:
On August 10 2018 05:29 Plansix wrote: Elon Musk getting investigation by the SEC for tweeting about taking Tesla private has just made my day. That man is a walking unforced error at this point.
All he has to do is not be lying about having funding secured... He wouldn't lie about that now would he?
He better have those funds ready at the time he made that tweet, paperwork signed. Otherwise he could be in some deep shit.
nothing is going to happen to Elon, who are you kidding? and do you follow Elon's twitter, or did you "do a double take" after seeing a news article with the tweet?
How does me follow Musk on twitter impact an SEC investigation?
Tesla is likely to face investigation by US securities market regulators following the CEO Elon Musk’s extraordinary tweet that he had “funding secured” to take the company private, according to a media report.
Shares in the money-losing carmaker sharply in New York to after the Wall Street Journal reported that the Securities and Exchange Commission is making “inquiries” and quoted former SEC lawyers as saying that investigators were looking for documentation to back up Musk’s claims.
According to the Journal, the SEC’s inquiries originate from the agency’s San Francisco office. The SEC declined to comment. If Musk’s claim turns out to be false, he risks civil and possible criminal penalties.
Shares dipped again after Bloomberg reported regulators had been looking into Tesla prior to Musk’s tweets and were now intensifying their scrutiny of Tesla Inc.’s public statements, including statements on manufacturing goals and sales targets.
Musk tweeted that he had secured enough funding to take Tesla private, which he felt was necessary to "assure success". Well he better have been telling the truth because that is a crime if he wasn't. And there is no reason for that tweet beyond his own ego. Or he was trying to gin up interest in the stock by saying he was going to buy everyone out, which is a crime.
Musk's ego makes him really stupid. Like this is amateur hour shit.
Politicians are allowed to make shit up on Twitter to own the libs. Officers of a publicly traded company are NOT allowed to make shit up to own the shorts. Because that would be security fraud. Elon could actually be fucked, and he was doing kinda better after the last conference call...
There's maybe a dozen entities with the sort of cash money to back a deal like this. And for that much cheddar you could buy any of the major automakers you wanted and have $10 billion to invest in EV R&D.
I did a double take when I saw the tweet and couldn’t believe he said it. But then I doubted myself, thinking that maybe I was over reacting. I’m glad to see that gravity still applies in these situations.
On August 10 2018 05:30 IyMoon wrote:
On August 10 2018 05:29 Plansix wrote: Elon Musk getting investigation by the SEC for tweeting about taking Tesla private has just made my day. That man is a walking unforced error at this point.
All he has to do is not be lying about having funding secured... He wouldn't lie about that now would he?
He better have those funds ready at the time he made that tweet, paperwork signed. Otherwise he could be in some deep shit.
nothing is going to happen to Elon, who are you kidding? and do you follow Elon's twitter, or did you "do a double take" after seeing a news article with the tweet?
How does me follow Musk on twitter impact an SEC investigation?
just trying to get a better mental image of you doing a double take. was it in line at the car wash while checking your twitter feed? or was it browsing the news at your desk?
Tesla is likely to face investigation by US securities market regulators following the CEO Elon Musk’s extraordinary tweet that he had “funding secured” to take the company private, according to a media report.
Shares in the money-losing carmaker sharply in New York to after the Wall Street Journal reported that the Securities and Exchange Commission is making “inquiries” and quoted former SEC lawyers as saying that investigators were looking for documentation to back up Musk’s claims.
According to the Journal, the SEC’s inquiries originate from the agency’s San Francisco office. The SEC declined to comment. If Musk’s claim turns out to be false, he risks civil and possible criminal penalties.
Shares dipped again after Bloomberg reported regulators had been looking into Tesla prior to Musk’s tweets and were now intensifying their scrutiny of Tesla Inc.’s public statements, including statements on manufacturing goals and sales targets.
Musk tweeted that he had secured enough funding to take Tesla private, which he felt was necessary to "assure success". Well he better have been telling the truth because that is a crime if he wasn't. And there is no reason for that tweet beyond his own ego. Or he was trying to gin up interest in the stock by saying he was going to buy everyone out, which is a crime.
Musk's ego makes him really stupid. Like this is amateur hour shit.
Politicians are allowed to make shit up on Twitter to own the libs. Officers of a publicly traded company are NOT allowed to make shit up to own the shorts. Because that would be security fraud. Elon could actually be fucked, and he was doing kinda better after the last conference call...
There's maybe a dozen entities with the sort of cash money to back a deal like this. And for that much cheddar you could buy any of the major automakers you wanted and have $10 billion to invest in EV R&D.
I did a double take when I saw the tweet and couldn’t believe he said it. But then I doubted myself, thinking that maybe I was over reacting. I’m glad to see that gravity still applies in these situations.
On August 10 2018 05:30 IyMoon wrote:
On August 10 2018 05:29 Plansix wrote: Elon Musk getting investigation by the SEC for tweeting about taking Tesla private has just made my day. That man is a walking unforced error at this point.
All he has to do is not be lying about having funding secured... He wouldn't lie about that now would he?
He better have those funds ready at the time he made that tweet, paperwork signed. Otherwise he could be in some deep shit.
nothing is going to happen to Elon, who are you kidding? and do you follow Elon's twitter, or did you "do a double take" after seeing a news article with the tweet?
How does me follow Musk on twitter impact an SEC investigation?
just trying to get a better mental image of you doing a double take. was it in line at the car wash while checking your twitter feed? or was it browsing the news at your desk?
I like to think he was walking past a guy who was reading a newspaper and it was on the page facing outwards.
Opinion: Pelosi is still extremely valuable in terms of her relations with various groups and securing funding. But this benefit is currently outweighed by public opinion of her. Modern elections are determined by public opinion more than the foundational sort of stuff she is good at.
On August 11 2018 00:24 Mohdoo wrote: Opinion: Pelosi is still extremely valuable in terms of her relations with various groups and securing funding. But this benefit is currently outweighed by public opinion of her. Modern elections are determined by public opinion more than the foundational sort of stuff she is good at.
plausible. it's a bit more complicated than that; while elections are determined that way; gettin stuff done after the election is another story. You need the backroom focused people like pelosi for that. otherwise you win elections but fail to do anything with those wins.
This Rolling Stone interview with her was kinda interesting. Basically, she doesn't really care about her public perception and isn't interested in spending money to improve it. While I can follow that line of thinking, I don't necessarily agree with it. Allowing herself to be painted as the progressive boogeyman has hurt the party. Her disregard for her brand has also opened her to attacks from the left as well as the right.
On August 11 2018 00:24 Mohdoo wrote: Opinion: Pelosi is still extremely valuable in terms of her relations with various groups and securing funding. But this benefit is currently outweighed by public opinion of her. Modern elections are determined by public opinion more than the foundational sort of stuff she is good at.
plausible. it's a bit more complicated than that; while elections are determined that way; gettin stuff done after the election is another story. You need the backroom focused people like pelosi for that. otherwise you win elections but fail to do anything with those wins.
Does it matter if you fail? Voters will just keep voting you in to continue to do nothing
EPT
