As far as the Tesla 3, it seems to be dead meat. That’s big trouble and I assume what you are driving at.
As for the settlement, it’s a pitiful slap on the wrist. His intent was clearly to deceive. Can’t do that, unless you are a Washington darling.
Those shorts must surely have known he did not have the financing. Impossible not to. But short squeezes aren’t exactly rare events. We aren’t in Kansas anymore, shorties.
The moral? Recognize that it’s a risky, politically influenced activity to engage in largeco shorting. You are a speculator, not an investor. No tears.
My point is that I think Elon Musk is a rent-seeking con man who had a good idea 20 years ago. IMO Tesla has been kept afloat by government grants and Musk’s ability to convince people he was a genius and could actually pull it off. John DeLorean was more on the up and up than Musk.
My guess: none of them. Tesla’s $10 billion in debt (much from Solar City) makes it unpalatable. It would be cheaper for them to design and make their own. The Powerwall is probably a more desireable acquisition than the auto-building component.
Curious and Dave are making the key point, that boards of directors at many large corporations are stacked with yes-men who exercise no meaningful oversight. Expanding their personal liability for reckless decisions is the minimum we should do.
I heard a while back that Musk needed the Tesla stock to climb to somewhere around $360, by the end of year, to meet the debt challenges he was facing at the end of the year. That was possibly one of the reasons he went off the deep end, declaring a deal was signed taking the business private when it wasn’t, making the stock briefly go up.
“My point is that I think Elon Musk is a rent-seeking con man who had a good idea 20 years ago.â€
Resolved.
No, Ben. The owners should deal with boards. It’s their risk capital. Board liability is governed by the business judgment rule, which has a robust body of case law and doesn’t need the flavor of the day.
Several things going on here.
As far as the Tesla 3, it seems to be dead meat. That’s big trouble and I assume what you are driving at.
As for the settlement, it’s a pitiful slap on the wrist. His intent was clearly to deceive. Can’t do that, unless you are a Washington darling.
Those shorts must surely have known he did not have the financing. Impossible not to. But short squeezes aren’t exactly rare events. We aren’t in Kansas anymore, shorties.
The moral? Recognize that it’s a risky, politically influenced activity to engage in largeco shorting. You are a speculator, not an investor. No tears.
My point is that I think Elon Musk is a rent-seeking con man who had a good idea 20 years ago. IMO Tesla has been kept afloat by government grants and Musk’s ability to convince people he was a genius and could actually pull it off. John DeLorean was more on the up and up than Musk.
The SEC should have stepped in a year ago when Musk brought out an almost bankrupt Solar City for the purpose of bailing out his cousins.
Wonder which car maker wants Tesla?
My guess: none of them. Tesla’s $10 billion in debt (much from Solar City) makes it unpalatable. It would be cheaper for them to design and make their own. The Powerwall is probably a more desireable acquisition than the auto-building component.
Curious and Dave are making the key point, that boards of directors at many large corporations are stacked with yes-men who exercise no meaningful oversight. Expanding their personal liability for reckless decisions is the minimum we should do.
I heard a while back that Musk needed the Tesla stock to climb to somewhere around $360, by the end of year, to meet the debt challenges he was facing at the end of the year. That was possibly one of the reasons he went off the deep end, declaring a deal was signed taking the business private when it wasn’t, making the stock briefly go up.
“My point is that I think Elon Musk is a rent-seeking con man who had a good idea 20 years ago.â€
Resolved.
No, Ben. The owners should deal with boards. It’s their risk capital. Board liability is governed by the business judgment rule, which has a robust body of case law and doesn’t need the flavor of the day.