tesla motors

stessier · Post by **stessier** » Thu Aug 02, 2018 12:34 pm

Congrats!

mori · Post by **mori** » Thu Aug 02, 2018 5:56 pm

Maybe you Tesla fans can help me out. Today at work a customer's Model X and P85 were parked near where I was working. Every so often the Model X lights would come on for a few minutes then turn off. No one is around the car, the owner is a thousand miles away, what the hell is it doing? The P85 is sitting there like a normal car that is not running so I do not think they are communicating and planning the machine revolution.

Zaxxon · Post by **Zaxxon** » Thu Aug 02, 2018 6:37 pm

That is weird.

telcta · Post by **telcta** » Thu Aug 02, 2018 11:03 pm

I’m happy for you Coop!

I feel I’m still in for a long wait but I hope to get the car before winter. I just read tonight that they increased the price for Pearl White and Red to $2,000 and the dual motor is back to $5,000.

wonderpug · Post by **wonderpug** » Fri Aug 03, 2018 8:25 am

mori wrote: ↑Thu Aug 02, 2018 5:56 pm so I do not think they are communicating and planning the machine revolution.

Just keep in mind that that's exactly what Teslas beginning the machine revolution would want you to think...

LawBeefaroni · Post by **LawBeefaroni** » Fri Aug 03, 2018 8:59 am

mori wrote: ↑Thu Aug 02, 2018 5:56 pm Maybe you Tesla fans can help me out. Today at work a customer's Model X and P85 were parked near where I was working. Every so often the Model X lights would come on for a few minutes then turn off. No one is around the car, the owner is a thousand miles away, what the hell is it doing? The P85 is sitting there like a normal car that is not running so I do not think they are communicating and planning the machine revolution.

Is the Model X brand new? The owner is probably playing around with/showing off the app. "Look, I can turn on the lights!"

coopasonic · Post by **coopasonic** » Fri Aug 03, 2018 9:06 am

telcta wrote: ↑Thu Aug 02, 2018 11:03 pm I’m happy for you Coop!

I feel I’m still in for a long wait but I hope to get the car before winter. I just read tonight that they increased the price for Pearl White and Red to $2,000 and the dual motor is back to $5,000.

Yeah, it looks like they bumped all the paint prices but basic black by $500... and I am still regretting dropping AWD. If I had known the offer on my trade would be so good I never would have dropped it. Oh well, it's not like I need AWD at all.

mori · Post by **mori** » Fri Aug 03, 2018 6:04 pm

LawBeefaroni wrote: ↑Fri Aug 03, 2018 8:59 am
mori wrote: ↑Thu Aug 02, 2018 5:56 pm Maybe you Tesla fans can help me out. Today at work a customer's Model X and P85 were parked near where I was working. Every so often the Model X lights would come on for a few minutes then turn off. No one is around the car, the owner is a thousand miles away, what the hell is it doing? The P85 is sitting there like a normal car that is not running so I do not think they are communicating and planning the machine revolution.
Is the Model X brand new? The owner is probably playing around with/showing off the app. "Look, I can turn on the lights!"

No they have had it for over a year at least. My coworkers have also noticed that car doing it all the time.

LawBeefaroni · Post by **LawBeefaroni** » Fri Aug 03, 2018 8:33 pm

Did the owner leave his keys at the office? Put them in a faraday cage.

Lights turning on and off while the the car is supposed to be off.

Lights come on automatically while parked in garage

mori · Post by **mori** » Fri Aug 03, 2018 10:52 pm

The fobs are always in the vehicles (parked in secured area) since we have to move them from time to time while customers are away on trips. They must of missed some software updates.

pr0ner · Post by **pr0ner** » Tue Aug 07, 2018 1:52 pm

Oh, Elon Musk.

Tesla chief Elon Musk stunned investors Tuesday when he tweeted that he was considering taking the company private, sending its stock soaring more than 6 percent.

Musk said he had “funding secured” to take the all-electric automaker private at $420 a share, far above its current $360 stock price. That would value the company — already the United States' most valuable automaker — at more than $70 billion.

...

Musk has long voiced annoyance with the public markets, where the company is beholden to investors and must report quarterly on its losses. The automaker is also the most shorted on Wall Street, with many investors betting the company will fail.

Zaxxon · Post by **Zaxxon** » Tue Aug 07, 2018 2:23 pm

Makes for an interesting day. Trading was just halted.

LawBeefaroni · Post by **LawBeefaroni** » Tue Aug 07, 2018 2:39 pm

Wtf?

Also, "$420.". Assume he was high.

Edit: not high wrt valuation but picking that exact number. Clearly signaling that he likes to blaze.

noxiousdog · Post by **noxiousdog** » Tue Aug 07, 2018 3:03 pm

Every day he strikes me more and more as a con artist.

pr0ner · Post by **pr0ner** » Tue Aug 07, 2018 3:11 pm

Def no forced sales. Hope all shareholders remain. Will be way smoother & less disruptive as a private company. Ends negative propaganda from shorts.

I am not quite sure that's how going from a publicly traded to private company works?

LawBeefaroni · Post by **LawBeefaroni** » Tue Aug 07, 2018 3:23 pm

They buy out the public share holders. Musk has promised (on Twitter) that current shareholders will be allowed to convert to private equity. But really that's not his call.

This all stinks. It's certainly a way to drive the price over $420 as retail schmucks see it as the only way to get a piece of the company.

stessier · Post by **stessier** » Tue Aug 07, 2018 3:23 pm

pr0ner wrote: ↑Tue Aug 07, 2018 3:11 pm

Def no forced sales. Hope all shareholders remain. Will be way smoother & less disruptive as a private company. Ends negative propaganda from shorts.
I am not quite sure that's how going from a publicly traded to private company works?

It could be done.

Typically, buyouts like this involve a new investor buying out smaller shareholders, since there are regulatory barriers to a privately held company having many small shareholders. But Musk said he'd look for a way to allow current Tesla shareholders to continue holding Tesla stock.

"My hope is all current investors remain with Tesla even if we're private," Musk tweeted. "Would create special-purpose fund enabling anyone to stay with Tesla. Already do this with Fidelity's SpaceX investment."

noxiousdog · Post by **noxiousdog** » Tue Aug 07, 2018 3:28 pm

LawBeefaroni wrote: ↑Tue Aug 07, 2018 3:23 pm They buy out the public share holders. Musk has promised (on Twitter) that current shareholders will be allowed to convert to private equity. But really that's not his call.

This all stinks. It's certainly a way to drive the price over $420 as retail schmucks see it as the only way to get a piece of the company.

I hope he faces SEC fines for doing that over twitter. This totally looks like he's manipulating shorts.

pr0ner · Post by **pr0ner** » Tue Aug 07, 2018 3:30 pm

stessier wrote: ↑Tue Aug 07, 2018 3:23 pm It could be done.

Typically, buyouts like this involve a new investor buying out smaller shareholders, since there are regulatory barriers to a privately held company having many small shareholders. But Musk said he'd look for a way to allow current Tesla shareholders to continue holding Tesla stock.

"My hope is all current investors remain with Tesla even if we're private," Musk tweeted. "Would create special-purpose fund enabling anyone to stay with Tesla. Already do this with Fidelity's SpaceX investment."

Thanks. This whole thing feels so, so shady.

Case in point:

This nine-word tweet boosted @elonmusk’s net worth by $400 million, according to @robtfrank.

noxiousdog · Post by **noxiousdog** » Tue Aug 07, 2018 3:35 pm

While that's true, it's not actually transferable into cash. He has to file sales, and as far as I know, he hasn't been selling any shares.

I do think he'd be better off with it private. He can't keep his mouth shut and act professional publicly, but the whole thing is still sketchy and his lack of commitment to transparency is troubling.

LordMortis · Post by **LordMortis** » Tue Aug 07, 2018 3:36 pm

noxiousdog wrote: ↑Tue Aug 07, 2018 3:03 pm Every day he strikes me more and more as a con artist.

Con Artist seems wrong. Genius and entrepreneur with no sense for value? He's the day dreamer about the billions dollar business based on his vision with the skill to create but no ability to connect the dots to the finances involved. He's (metaphoric for his type), quite frankly, is necessary to drag us all kicking and screaming forward irrespective of the value of something right now. TESLA is the right namesake. Musk just lives in an era where he can leverage investors instead of being locked away being leveraged by them.

Zaxxon · Post by **Zaxxon** » Tue Aug 07, 2018 3:36 pm

https://www.tesla.com/blog/taking-tesla-private

El Guapo · Post by **El Guapo** » Tue Aug 07, 2018 3:37 pm

noxiousdog wrote: ↑Tue Aug 07, 2018 3:28 pm
LawBeefaroni wrote: ↑Tue Aug 07, 2018 3:23 pm They buy out the public share holders. Musk has promised (on Twitter) that current shareholders will be allowed to convert to private equity. But really that's not his call.

This all stinks. It's certainly a way to drive the price over $420 as retail schmucks see it as the only way to get a piece of the company.
I hope he faces SEC fines for doing that over twitter. This totally looks like he's manipulating shorts.

Apparently the SEC has said that companies can use social media to announce important business as long as they alert investors that company news can come from those channels. My understanding is that shortly after that Tesla said to pay attention to Elon Musk's Twitter feed. So I don't think there's an issue with him doing this over twitter.

I do wonder how solid this funding is, as if it's in a state like "oh, I bet I can get some banks to fund this at $420/share", then that's getting into dodgy territory. But if the funding is solid and plans are in motion, it's weird to do it like this. Also, why would he do it at $420 /share when the stock price was at $341 or so? Seems like he could pick a lower price and still get it done.

Kind of reeks of him just wanting the stock price to be higher.

noxiousdog · Post by **noxiousdog** » Tue Aug 07, 2018 3:38 pm

LordMortis wrote: ↑Tue Aug 07, 2018 3:36 pm
noxiousdog wrote: ↑Tue Aug 07, 2018 3:03 pm Every day he strikes me more and more as a con artist.
Con Artist seems wrong. Genius and entrepreneur with no sense for value? He's the day dreamer about the billions dollar business based on his vision with the skill to create but no ability to connect the dots to the finances involved. He's (metaphoric for his type), quite frankly, is necessary to drag us all kicking and screaming forward irrespective of the value of something right now. TESLA is the right namesake. Musk just lives in an era where he can leverage investors instead of being locked away being leveraged by them.

Con artist is the right word. He overpromises and underdelivers. He engages in shady business practices in both the investment and labor markets. He tolerates no criticism.

El Guapo · Post by **El Guapo** » Tue Aug 07, 2018 3:38 pm

noxiousdog wrote: ↑Tue Aug 07, 2018 3:35 pm While that's true, it's not actually transferable into cash. He has to file sales, and as far as I know, he hasn't been selling any shares.

I do think he'd be better off with it private. He can't keep his mouth shut and act professional publicly, but the whole thing is still sketchy and his lack of commitment to transparency is troubling.

I hope his lawyers would throw themselves in front of any attempt by him to sell shares. If they're doing their job they should be making sure that no relatives are selling shares either.

Isgrimnur · Post by **Isgrimnur** » Tue Aug 07, 2018 3:40 pm

LordMortis wrote: ↑Tue Aug 07, 2018 3:36 pm TESLA is the right namesake.

Tesla had no business sense. Edison was much more of the business showman.

noxiousdog · Post by **noxiousdog** » Thu Aug 09, 2018 3:41 pm

Excerpt From Barrons:

"The surge in Tesla's (TSLA) shares after CEO Elon Musk's tweet about going private has had huge, salutary effect on its key convertible bonds and its financing position. By pushing the common stock's price above the $360 level, his tweet has put a $900 million convert issue above its conversion price, which would effectively let the electric-auto maker pay off that obligation in stock instead of cash.

Tesla has a $920 million 0.25% convertible issue due Feb. 27, 2019, which would be convertible into common at a price of $359.8676 per share. If the stock trades below that price at the conversion price, the holder would be better off taking cash. That would put pressure on Tesla while it continues to burn cash, as of the second quarter. But by being able to redeem the debt in stock would obviate the obligation to come up with over $900 million in cash.

In addition, Tesla also has another 1.25% convertible totaling $1.38 billion that matures Feb. 25, 2021. This issue also converts at the same price, and a common share price over $360 also would obviate the need to pay off this convert in cash."

Also, there's this from mungofitch on the Motley Fool: " It's interesting to see that the price started its sudden serious spike just after 12:17 PM, which was 31 minutes before his tweet at 12:48.
Roughly 60% of the total price rise (from the undisturbed price at 12:47 to the $366.79 just before the trading suspension) took place before the tweet."

LawBeefaroni · Post by **LawBeefaroni** » Thu Aug 09, 2018 3:54 pm

So someone knew.

coopasonic · Post by **coopasonic** » Mon Aug 13, 2018 10:22 am

I got a ride in an RWD Model 3 this weekend. That was pretty nice. I think I'll get one.

Zaxxon · Post by **Zaxxon** » Mon Aug 13, 2018 10:39 am

coopasonic wrote: ↑Mon Aug 13, 2018 10:22 am I got a ride in an RWD Model 3 this weekend. That was pretty nice. I think I'll get one.

Zaxxon · Post by **Zaxxon** » Mon Aug 13, 2018 10:43 am

Also, more on the privatization debacle.

pr0ner · Post by **pr0ner** » Mon Aug 13, 2018 10:53 am

He's really going to try to take Tesla private. Oh my.

LordMortis · Post by **LordMortis** » Mon Aug 13, 2018 11:59 am

Zaxxon wrote: ↑Mon Aug 13, 2018 10:43 am Also, more on the privatization debacle.

R&P ahead... WARNING

Isn't this a dangerous game? Some of our resident Canadians could way in on legit news sources concerning the Saudi Fund and how they operate. Everything here is filtered through the US presidency and I don't think that's a good judge of the shit going down.

Enough · Post by **Enough** » Mon Aug 13, 2018 1:05 pm

Well as someone who has been very interested in potentially purchasing a Tesla some day, I will say that selling to Saudi Arabia's sovereign wealth fund would make me at least consider other options.

morlac · Post by **morlac** » Mon Aug 13, 2018 1:05 pm

My man love and adulation of Elon Musk grows dimmer with every tweet.

Zaxxon · Post by **Zaxxon** » Mon Aug 13, 2018 1:12 pm

I'm not a fan of the idea of a large Saudi investment, either. But to be clear, we're not talking a controlling interest.

LordMortis · Post by **LordMortis** » Mon Aug 13, 2018 1:17 pm

Zaxxon wrote: ↑Mon Aug 13, 2018 1:12 pm I'm not a fan of the idea of a large Saudi investment, either. But to be clear, we're not talking a controlling interest.

If I read correctly, Musk is saying 1/3 share ownership is projected. That's the projection....

https://arstechnica.com/cars/2018/08/el ... out-tesla/

A total buyout of Tesla would cost more than $70 billion. But Musk says he's hoping that many of Tesla's major shareholders will choose to remain as shareholders in the new, private company. That would reduce the amount of cash required, since funding would only be needed to buy out shareholders who wanted to cash out.

"My best estimate right now is that approximately two-thirds of shares owned by all current investors would roll over into a private Tesla," Musk wrote, implying that a buyout might require between $20 billion and $30 billion in cash.

Zaxxon · Post by **Zaxxon** » Mon Aug 13, 2018 1:22 pm

Correct. Somewhere around 1/3 of total ownership is what's being discussed, split across KSA and any other entities that join. Also note that KSA already owns around 5%.

If you believe that Elon Musk is going to complete this transaction in a way that will significantly influence (to the negative) Tesla's mission of accelerating the advent of sustainable transportation, I've got some wonderful land near the Everglades that I'm getting ready to list. LMK if interested.

Enough · Post by **Enough** » Mon Aug 13, 2018 1:36 pm

Zaxxon wrote: ↑Mon Aug 13, 2018 1:22 pm Correct. Somewhere around 1/3 of total ownership is what's being discussed, split across KSA and any other entities that join. Also note that KSA already owns around 5%.

If you believe that Elon Musk is going to complete this transaction in a way that will significantly influence (to the negative) Tesla's mission of accelerating the advent of sustainable transportation, I've got some wonderful land near the Everglades that I'm getting ready to list. LMK if interested.

I hope you are right. We've got safety violations in his factory with his ridiculous response to Reveal, his almost Trumpian twitter behavior in regards to the cave rescuer and now he is thinking of taking literal blood money to get out from under the shorters (and perhaps committing SEC violations on his way). I was excited for America to have another Ford moment, but I guess I have to remember that Henry Ford was an asshole of the highest order who cared very little for cute things like human rights. It feels a bit like being a Bronco fan and happy with the results Romo got us but with greatly lessened pride when I acknowledge it came dirty.