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    Re: Tesla Roadster

    - Press Release -

    Statement from the following members of Tesla's Board of Directors: Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice, and James Murdoch

    PALO ALTO, Calif., Aug. 08, 2018 (GLOBE NEWSWIRE) -- "Last week, Elon opened a discussion with the board about taking the company private. This included discussion as to how being private could better serve Tesla’s long-term interests, and also addressed the funding for this to occur. The board has met several times over the last week and is taking the appropriate next steps to evaluate this."

    Investor Relations


    Re: Tesla Roadster

    Market needs more than a few words in a press release to evaluate the actuality of a going private transaction.  Without those details, this remains highly speculative.



    Re: Tesla Roadster

    Leawood911:

    $420. That’s high. Lol. Sorry, funny number.

    I got that ! Smiley


    Re: Tesla Roadster

    Wonder how Ambien Dancer will respond?

    SEC has reportedly made inquiries to Tesla over Elon Musk's tweet about possibly taking company private

    Robert Ferris

    The U.S. Securities and Exchange Commission has made inquiries to Tesla over CEO Elon Musk's tweets about taking the company private, reported Dow Jones on Wednesday, citing sources. 

    On Tuesday, Musk said on Twitter that he was considering taking Tesla private at $420 a share, and that he had already secured the funding. 

    But since then he has provided no details on the source of the funding, which would be substantial. At $420 a share Tesla would be valued at about $71 million. 

    Following the series of tweets, Tesla posted a letter Musk had sent to employees that said he wants to take Tesla private to remove the distracting attention Tesla receives from the public, including short sellers. 

    The SEC asked whether the statements Musk made on Tuesday were true and why he chose to disclose his plans on Twitter, Dow Jones reported, citing sources. 

    Tesla and the SEC did not immediately respond to a request for comment from CNBC.

    Tesla shares closed down more than 2 percent at $370.34. 

    Read the full story at the Wall Street Journal.

    This story is developing. Please check back for updates.


    Re: Tesla Roadster

    $71 million? Small beer....


    --

    991 Carrera Black Edition, XC90 Black\Black - 2 kids, 1 dog


    Re: Tesla Roadster

    bridggar:

    $71 million? Small beer....

    Only the market capitalization of Volkswagen Group or Daimler.  


    Re: Tesla Roadster

    Press release from Moody's...

    "Moody's says Tesla's consideration to go private based on CEO's note is credit negative"

    09 Aug 2018

    New York, August 09, 2018 -- Moody's Investors Service said that Tesla, Inc. (Tesla) CEO's note to employees that he is considering taking Tesla, Inc. private is credit negative, but does not affect the ratings (CFR of B3, Sr Unsecured of Caa1, negative outlook) at this time. For further information, please see www.moodys.com

    Such a transaction would be about $71 billion, at the $420 stated share price. Although Tesla indicated that the company's board of directors is evaluating the merits of the company becoming private, no details concerning potential funding sources or targeted capital structure have been disclosed. 

    Moody's notes that Tesla has made progress in ramping up the production and delivery of the Model 3. In addition, the number of paid reservations for the Model 3 remains about 420,000, consumer acceptance of the vehicle continues to be highly favorable, and capital expenditures are lower than we had expected. Despite these positive factors, the company's liquidity position remains tight. Tesla's cash and marketable securities position stood at $2.2 billion at June 30, 2018, as Free Cash Flow was heavily negative through the 2nd quarter. Moreover, the company faces maturities of $1.2 billion in convertible debt through March 2019. Tesla also faces the prospect of significantly increased tariffs on vehicles exported to China, which accounted for 17% of 2017 revenues and could pressure cash flow.

    Although the company's cash generation will improve during the second half of 2018 and over the coming year as Model 3 production improves, we continue to expect that Tesla will need to access the capital markets in order to fund its operating requirements and repay the maturing convertible debt obligations.

    Moody's also notes that Change of Control provisions might not protect existing noteholders in a Go-Private transaction. The indenture governing Tesla's $1.8 billion of senior unsecured notes due 2025 contains change of control provisions that could, under certain circumstances, require the company to tender for all outstanding notes at 101% of the principal amount. However, the conditions necessary for the change of control provisions to become operative, and thereby benefit note holders, might not be met (See Moody's Covenant Quality Assessment for Tesla, August 11, 2017.)

    The necessary conditions include:

    1) any person or group becomes beneficial owner of more than 50% of the company's voting stock; and

    2) the ratings of Tesla's unsecured notes are downgraded by both Moody's and S&P as a result of a change in control.

    Most recent filings indicate that the company's top 5 shareholders (including Elon Musk's 20% stake) control approximately 49% of its voting rights, and its top 10 shareholders control 60% of the votes. These dominant share positions may be held by strategic, long-term investors. Given Mr. Elon Musk's contemplation that existing shareholders would remain with the company, it is possible that a Go-Private transaction could proceed without any requirement for the $1.8 billion in unsecured notes be taken out through a tender because the defined change in control condition may not occur.

    Tesla, Inc. operates in two businesses. It is the world's largest manufacturer of battery electric vehicles, with three models, the S, X and 3. In addition, the company produces and installs energy storage systems, as well as solar energy generation systems. 

    This publication does not announce a credit rating action.

    Link: https://www.moodys.com/research/Moodys-says-Teslas-consideration-to-go-private-based-on-CEOs--PR_387672


    Re: Tesla Roadster

    Carsten Maschmeyer, a German entrepreneur and billionaire, just recently criticized Musk and said that in his opinion, Tesla will be "overrun" by German manufacturers in latest three years. He also called Musk a deceiver and someone who is big talk but...


    --

    RC (Germany) - Rennteam Editor Porsche 991.2 Carrera GTS Cabriolet (2018), Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Mini JCW (2015)


    Re: Tesla Roadster

    Trying not to get too far off topic of this Tesla Roadster / Tesla investment thread, but I wanted to share my impressions of the Tesla model 3 after finally seeing one on the road this week.

    Really want to keep it positive so I will start by noting that the car certainly does photograph very well. In fact the car is so very photogenic that I was a bit shocked at how unacceptable I found the appearance when seen in motion on the road. My opinion very quickly shifted from "I would like to have one of those" towards "I would not like to see that in my garage every morning". The front end is certainly the worst feature of the car.

    I am not too well versed on design, so it is very difficult to express in writing; but I know what I like and this is not it.


    Re: Tesla Roadster

    Tesla introduces innovative product development process with its customers!  Elon, the evanescent visionary, does it again: https://insideevs.com/tesla-model-3-rear-bumper-rain/  Not even the Saudis could be dumb enough to drop tens of billions on this joke.


    Re: Tesla Roadster


    Re: Tesla Roadster

    Latest blog on a potential public-to-private of Tesla by Elon Musk...

    "Update on Taking Tesla Private" (Elon Musk, 13th August 2018)

    As I announced last Tuesday, I’m considering taking Tesla private because I believe it could be good for our shareholders, enable Tesla to operate at its best, and advance our mission of accelerating the transition to sustainable energy. As I continue to consider this, I want to answer some of the questions that have been asked since last Tuesday.

    What has happened so far?
    On August 2nd, I notified the Tesla board that, in my personal capacity, I wanted to take Tesla private at $420 per share. This was a 20% premium over the ~$350 then current share price (which already reflected a ~16% increase in the price since just prior to announcing Q2 earnings on August 1st). My proposal was based on using a structure where any existing shareholder who wished to remain as a shareholder in a private Tesla could do so, with the $420 per share buyout used only for shareholders that preferred that option.

    After an initial meeting of the board’s outside directors to discuss my proposal (I did not participate, nor did Kimbal), a full board meeting was held. During that meeting, I told the board about the funding discussions that had taken place (more on that below) and I explained why this could be in Tesla’s long-term interest.

    At the end of that meeting, it was agreed that as a next step, I would reach out to some of Tesla’s largest shareholders. Our largest investors have been extremely supportive of Tesla over the years, and understanding whether they had the ability and desire to remain as shareholders in a private Tesla is of critical importance to me. They are the ones who believed in Tesla when no one else did and they are the ones who most believe in our future. I told the board that I would report back after I had these discussions.

    Why did I make a public announcement?
    The only way I could have meaningful discussions with our largest shareholders was to be completely forthcoming with them about my desire to take the company private. However, it wouldn’t be right to share information about going private with just our largest investors without sharing the same information with all investors at the same time. As a result, it was clear to me that the right thing to do was announce my intentions publicly. To be clear, when I made the public announcement, just as with this blog post and all other discussions I have had on this topic, I am speaking for myself as a potential bidder for Tesla.

    Why did I say “funding secured”?
    Going back almost two years, the Saudi Arabian sovereign wealth fund has approached me multiple times about taking Tesla private. They first met with me at the beginning of 2017 to express this interest because of the important need to diversify away from oil. They then held several additional meetings with me over the next year to reiterate this interest and to try to move forward with a going private transaction. Obviously, the Saudi sovereign fund has more than enough capital needed to execute on such a transaction.

    Recently, after the Saudi fund bought almost 5% of Tesla stock through the public markets, they reached out to ask for another meeting. That meeting took place on July 31st. During the meeting, the Managing Director of the fund expressed regret that I had not moved forward previously on a going private transaction with them, and he strongly expressed his support for funding a going private transaction for Tesla at this time. I understood from him that no other decision makers were needed and that they were eager to proceed.

    I left the July 31st meeting with no question that a deal with the Saudi sovereign fund could be closed, and that it was just a matter of getting the process moving. This is why I referred to “funding secured” in the August 7th announcement.

    Following the August 7th announcement, I have continued to communicate with the Managing Director of the Saudi fund. He has expressed support for proceeding subject to financial and other due diligence and their internal review process for obtaining approvals. He has also asked for additional details on how the company would be taken private, including any required percentages and any regulatory requirements.

    Another critical point to emphasize is that before anyone is asked to decide on going private, full details of the plan will be provided, including the proposed nature and source of the funding to be used. However, it would be premature to do so now. I continue to have discussions with the Saudi fund, and I also am having discussions with a number of other investors, which is something that I always planned to do since I would like for Tesla to continue to have a broad investor base. It is appropriate to complete those discussions before presenting a detailed proposal to an independent board committee.

    It is also worth clarifying that most of the capital required for going private would be funded by equity rather than debt, meaning that this would not be like a standard leveraged buyout structure commonly used when companies are taken private. I do not think it would be wise to burden Tesla with significantly increased debt. 

    Therefore, reports that more than $70B would be needed to take Tesla private dramatically overstate the actual capital raise needed. The $420 buyout price would only be used for Tesla shareholders who do not remain with our company if it is private. My best estimate right now is that approximately two-thirds of shares owned by all current investors would roll over into a private Tesla.

    What are the next steps?
    As mentioned earlier, I made the announcement last Tuesday because I felt it was the right and fair thing to do so that all investors had the same information at the same time. I will now continue to talk with investors, and I have engaged advisors to investigate a range of potential structures and options. Among other things, this will allow me to obtain a more precise understanding of how many of Tesla’s existing public shareholders would remain shareholders if we became private.

    If and when a final proposal is presented, an appropriate evaluation process will be undertaken by a special committee of Tesla’s board, which I understand is already in the process of being set up, together with the legal counsel it has selected. If the board process results in an approved plan, any required regulatory approvals will need to be obtained and the plan will be presented to Tesla shareholders for a vote.

    Link: http://www.tesla.com/blog/update-taking-Tesla-private


    Re: Tesla Roadster

    Boxster Coupe GTS:

    Latest blog on a potential public-to-private of Tesla by Elon Musk...

    "Update on Taking Tesla Private" (Elon Musk, 13th August 2018)

    As I announced last Tuesday, I’m considering taking Tesla private because I believe it could be good for our shareholders, enable Tesla to operate at its best, and advance our mission of accelerating the transition to sustainable energy. As I continue to consider this, I want to answer some of the questions that have been asked since last Tuesday.

    What has happened so far?
    On August 2nd, I notified the Tesla board that, in my personal capacity, I wanted to take Tesla private at $420 per share. This was a 20% premium over the ~$350 then current share price (which already reflected a ~16% increase in the price since just prior to announcing Q2 earnings on August 1st). My proposal was based on using a structure where any existing shareholder who wished to remain as a shareholder in a private Tesla could do so, with the $420 per share buyout used only for shareholders that preferred that option.

    After an initial meeting of the board’s outside directors to discuss my proposal (I did not participate, nor did Kimbal), a full board meeting was held. During that meeting, I told the board about the funding discussions that had taken place (more on that below) and I explained why this could be in Tesla’s long-term interest.

    At the end of that meeting, it was agreed that as a next step, I would reach out to some of Tesla’s largest shareholders. Our largest investors have been extremely supportive of Tesla over the years, and understanding whether they had the ability and desire to remain as shareholders in a private Tesla is of critical importance to me. They are the ones who believed in Tesla when no one else did and they are the ones who most believe in our future. I told the board that I would report back after I had these discussions.

    Why did I make a public announcement?
    The only way I could have meaningful discussions with our largest shareholders was to be completely forthcoming with them about my desire to take the company private. However, it wouldn’t be right to share information about going private with just our largest investors without sharing the same information with all investors at the same time. As a result, it was clear to me that the right thing to do was announce my intentions publicly. To be clear, when I made the public announcement, just as with this blog post and all other discussions I have had on this topic, I am speaking for myself as a potential bidder for Tesla.

    Why did I say “funding secured”?
    Going back almost two years, the Saudi Arabian sovereign wealth fund has approached me multiple times about taking Tesla private. They first met with me at the beginning of 2017 to express this interest because of the important need to diversify away from oil. They then held several additional meetings with me over the next year to reiterate this interest and to try to move forward with a going private transaction. Obviously, the Saudi sovereign fund has more than enough capital needed to execute on such a transaction.

    Recently, after the Saudi fund bought almost 5% of Tesla stock through the public markets, they reached out to ask for another meeting. That meeting took place on July 31st. During the meeting, the Managing Director of the fund expressed regret that I had not moved forward previously on a going private transaction with them, and he strongly expressed his support for funding a going private transaction for Tesla at this time. I understood from him that no other decision makers were needed and that they were eager to proceed.

    I left the July 31st meeting with no question that a deal with the Saudi sovereign fund could be closed, and that it was just a matter of getting the process moving. This is why I referred to “funding secured” in the August 7th announcement.

    Following the August 7th announcement, I have continued to communicate with the Managing Director of the Saudi fund. He has expressed support for proceeding subject to financial and other due diligence and their internal review process for obtaining approvals. He has also asked for additional details on how the company would be taken private, including any required percentages and any regulatory requirements.

    Another critical point to emphasize is that before anyone is asked to decide on going private, full details of the plan will be provided, including the proposed nature and source of the funding to be used. However, it would be premature to do so now. I continue to have discussions with the Saudi fund, and I also am having discussions with a number of other investors, which is something that I always planned to do since I would like for Tesla to continue to have a broad investor base. It is appropriate to complete those discussions before presenting a detailed proposal to an independent board committee.

    It is also worth clarifying that most of the capital required for going private would be funded by equity rather than debt, meaning that this would not be like a standard leveraged buyout structure commonly used when companies are taken private. I do not think it would be wise to burden Tesla with significantly increased debt. 

    Therefore, reports that more than $70B would be needed to take Tesla private dramatically overstate the actual capital raise needed. The $420 buyout price would only be used for Tesla shareholders who do not remain with our company if it is private. My best estimate right now is that approximately two-thirds of shares owned by all current investors would roll over into a private Tesla.

    What are the next steps?
    As mentioned earlier, I made the announcement last Tuesday because I felt it was the right and fair thing to do so that all investors had the same information at the same time. I will now continue to talk with investors, and I have engaged advisors to investigate a range of potential structures and options. Among other things, this will allow me to obtain a more precise understanding of how many of Tesla’s existing public shareholders would remain shareholders if we became private.

    If and when a final proposal is presented, an appropriate evaluation process will be undertaken by a special committee of Tesla’s board, which I understand is already in the process of being set up, together with the legal counsel it has selected. If the board process results in an approved plan, any required regulatory approvals will need to be obtained and the plan will be presented to Tesla shareholders for a vote.

    Link: http://www.tesla.com/blog/update-taking-Tesla-private

    Why wasn’t that made public initially instead of his Tweet during the trading day?  Trading in TSLA should have been suspended as the above announcement was made.   This now reeks of a legal protective move.  


    Re: Tesla Roadster

    CGX car nut:

    Tesla introduces innovative product development process with its customers!  Elon, the evanescent visionary, does it again: https://insideevs.com/tesla-model-3-rear-bumper-rain/  Not even the Saudis could be dumb enough to drop tens of billions on this joke.

    So much for Tesla product testing... that is a really embarrasing QC fail.


    --

    ⇒ Carlos - Porsche 991 Carrera GTS


    Re: Tesla Roadster

    Whoopsy:

    In a way, he is about 10 steps ahead of everyone.

    He knew Tesla would be operated best as a private company, but capital would be a problem, so he took it public and use someone else's money first.

    Now that he got a boat load of suckers, he is taking it private again. With many big shareholders, of whom none would jump ship, the total capital needed to buy out the rest of the shares would be minimized. So it doesn't take too much capital to finish off the deal, maybe 30ish billion. Not unreachable. 

    And after than he remain czar of the company and can do whatever he wants with it.

    Genius.

    That.

    So early 2022 for first eMacan deliveries? Is this serious?


    Re: Tesla Roadster

    Next Macan generation is supposed to be fully electric and/or at least some sort of hybrid. All models.


    --

    RC (Germany) - Rennteam Editor Porsche 991.2 Carrera GTS Cabriolet (2018), Audi R8 V10 Plus (2016), Mercedes E63 S AMG Edition 1 (2018), Mini JCW (2015)


    Re: Tesla Roadster

    Macan is too small, not enough power.

    I drove one from Stuttgart to Nurburgring and back last month.

    It was a turtle on the autobahn. Simply lacking at least 50hp, if not more. And I already drove the Turbo with the Performance Package. A Porsche Drive rental car.

    It does handle nicely around town, but still feels down on power.

    And seriously lacking in passenger and luggage room.

     


    --

     

     


    Re: Tesla Roadster

    Eey, the Macan Turbo is the best Porsche indecision


    --

    2017 991.2 Carrera 4 GTS | GT Silver Metallic - The GT3 Killah!
    2013 Audi S3 | Glacier White


    Re: Tesla Roadster

    Macan facelift with PP should have enough power. Autobahn is whatrequires the most but that’s only in Germany...

    Passenger and luggage room is small but for a DD it doesn’t matter.


    Re: Tesla Roadster

    Time for Tesla's board to take action before Musk harms the company even more.  Goldman and Silverlake state there were no agreements in place when Musk tweeted about taking Tesla private at $420 a share.  https://www.bloomberg.com/news/articles/2018-08-14/goldman-sachs-is-said-to-have-had-no-mandate-when-musk-tweeted 

     



    Re: Tesla Roadster

    SciFrog:

    https://www.cnet.com/roadshow/news/volkswagen-toxic-cadmium-charger-ev-plug-in/#ftag=CAD590a51e

     

    Another check mark against EV going mainstream.

    Hybrids don't have that problem, they don't need chargers. The onboard generator can take care of charging the battery completely.

     


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    Re: Tesla Roadster

    Impetuous man-child starting a very public implosion.   Time for the board to place Musk on an extended leave of absence and try to stabilize the company.   https://www.nytimes.com/2018/08/16/business/elon-musk-interview-tesla.html


    Re: Tesla Roadster

    The short sellers are the cause of his stress........

    Well he cause the stress on himself.

    He is too ambitious, too optimistic with Tesla. He was gambling with the future value of the Tesla stock when he did the convertible bonds, which are the main reason why he had to prop up the stock price with hope and dreams. 

    The short case are solid, with solid number crunching based on Tesla's public financial records. There is no 'hope' or 'dream'. The analysis was based on Tesla's proven track record, or lack of. All numbers pointed to a stock price of a lot less than $420, or even ~$300 it is right now. ~$120-$140 would be a fair valuation.

    The bull's case on the other hand are completely based on hopes and dreams. There are no solid number supporting them. It's all based on Elon's vision. Nothing more. 

    I do not think Tesla will go away, I think it will survive. But it's just that the valuation of the company is way out of whack, hence the shorts' case. Tesla should have been a 20 billion company accounting for future growth at this moment, not the 50+ billion it is as of yesterday.

    There is not much future growth in the EV market, right now they have the monopoly inn the near luxury market, but with all the European car companies doing EV and coming only soon, there is no place for Tesla there unless they improve the quality and content of their models. Model 3 was a good idea to try and enter the mass market, but Elon keep repeating the same mistake without learning anything. He knew Tesla had trouble making the Model S initially, he hasn't improved on that situation and basically doing Model 3 the same way, hence the ramp up problem. 

    He knew Tesla's fate are tied to the Model 3, basically putting all his bets on one boat. Which is why he is very keen on delivering hope to the production and propping up stock prices, he had borrowed heavily to get the Model 3 program off the ground and he is stuck now. 

    That was a strategic mistake. He should have leveraged his giga factory's capacity and do trucks instead. Those trucks required a ton of batteries and he is producing them in abundance. Tesla would have been in better shape had they did the semi-truck instead of the Model 3. There are more margins in the trucks and they don't have to make 5000 of them a week to be 'profitable'. Plus there are no competition yet, a scenario not unlike the initial Model S launch. They can have their monopoly. Model 3 is stuck competition against GM's Bolt and Nissan's Leaf, either of which is already a better car. 

     


    --

     

     


    Re: Tesla Roadster

    CGX car nut:

    Impetuous man-child starting a very public implosion.   Time for the board to place Musk on an extended leave of absence and try to stabilize the company.   https://www.nytimes.com/2018/08/16/business/elon-musk-interview-tesla.html

    It seems that the NY Times articles had quite an impact on TSLA...

    Takeaways From Interview With Tesla’s Elon Musk: ‘Not on Weed’ and the ‘Worst Is Yet to Come

    In a wide-ranging interview with The New York Times, Elon Musk spoke of the heavy toll that running Tesla has taken on his personal life.

    (17 August 2918)

    Tesla is not considering hiring a second in command, the electric carmaker’s founder and chief executive, Elon Musk, said in wide-ranging comments to The New York Times.

    Mr. Musk’s remarks during the hour long interview came despite long-running efforts by the company to recruit a chief operating officer who could assume some of his day-to-day responsibilities. He also discussed the extraordinary demands of running Tesla and the profound effect it has had on his personal life.

    “To the best of my knowledge,” Mr. Musk told The Times on Thursday, there was “no active search right now.” People familiar with the matter, however, said that executives were looking for a No. 2 executive, and one person said the hunt had intensified in recent weeks.

    A couple of years ago, Tesla approached Sheryl Sandberg, currently Facebook’s second most senior executive, about the job, Mr. Musk said.

    Here are four other takeaways from the interview, at his home in Los Angeles.

    Impromptu Tweet on the Way to the Airport

    Mr. Musk provided a detailed timeline of the events that preceded the tweet that roiled financial markets, outlining how the day began with an early workout at his home before he drove himself to the airport in a Tesla Model S.

    En route, he typed out the message that provoked the latest crisis over his leadership of Tesla.

    "Am considering taking Tesla private at $420. Funding secured."

    Mr. Musk said no one reviewed or saw the tweet before he sent it, but the post sent Tesla’s shares soaring. He then reached the airport and took a private jet to a Tesla battery plant in Nevada. Later that evening, he flew to the San Francisco Bay Area and held meetings into the night.

    When Mr. Musk sent out the tweet, Tesla’s share price rocketed upward, finally closing up 11 percent to finish the day just above $379. He said in the interview that he had sought to offer shareholders a roughly 20 percent premium over where the stock had recently been trading, and rounded up to $420 a share.

    Since then, however, Tesla’s share price has nose-dived. As of Friday afternoon, Tesla’s shares were trading at around $305, down more than 9 percent for the day.  

    No Regrets

    Although his tweet prompted questions from the Securities and Exchange Commission — such information is usually issued through official channels after extensive preparation — and from his own board, Mr. Musk said he did not regret sending it.

    “Why would I?” he asked.

    The Tesla chief said he did not plan to stop using Twitter, either. Some board members have recently told him that he should lay off the social media platform and focus on his company, according to people familiar with the matter.

    ‘Not on Weed’

    Once Mr. Musk’s tweet about taking Tesla private was posted, speculation was rife that his target share price, $420, held an implicit message — the number has become code for marijuana in counterculture lore.

    Mr. Musk was, however, definitive in his response. “I was not on weed, to be clear,” he said.

    “Weed is not helpful for productivity. There’s a reason for the word ‘stoned.’ You just sit there like a stone on weed.”

    He did note, though, that he sometimes takes Ambien to help him sleep when he is not working, a practice that has worried some of Tesla’s board members.

    They worry that the drug does not put Mr. Musk to sleep, but instead contributes to late-night Twitter sessions, a person familiar with the matter said. Some board members are also aware that Mr. Musk has occasionally used recreational drugs, according to people familiar with the matter.  

    ‘The Worst Is Yet to Come’

    Mr. Musk outlined the toll that running Tesla had taken on his personal life, from spending the entirety of his birthday at work to nearly missing his brother’s wedding, where he was to be best man.

    But while that effort appears to have helped Tesla gain a firmer footing, things could get worse for him personally, he said.

    “I thought the worst of it was over — I thought it was,” he said. “The worst is over from a Tesla operational standpoint.”

    “But from a personal pain standpoint,” Mr. Musk added, “the worst is yet to come.”

    Smiley


    Re: Tesla Roadster

    Of course he is stressing, If he can't prop up the stock price in time, the bond holders will be paid in cash instead of stock, and Tesla simply don't have the cash to pay.

    Everyone who reads quarterly financials knows that, hence the short interest, especially when Tesla are already tapped out on their debt. 

    He tried to sell Tesla on massive expansion investment, sort of how Silicon Valley startup operates, blowing through other people's cash like crazy on the hope that there will be light at the end of the tunnel to pay people back. But this is a automotive company, not a software company, and the playing field is very different. 

    All he needs to do is come clean. People will forgive him. Wall Street have a very short memory, and selective too.

     


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    Re: Tesla Roadster

     


    Re: Tesla Roadster

    Thanks for sharing. Seems pretty level headed. 


    Re: Tesla Roadster

    If only you could believe a word this guy says... He says with a straight face that they can build a 25k model in three years when can't even do now the 35k model 3 he promised long ago and only just recently removed it from the model range. The guy is a charlatan.

    --

    ⇒ Carlos - Porsche 991 Carrera GTS


     
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