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Chevy Volt a Failure - GM to Layoff 1,300

Discussion in 'Sports and News' started by Evil Bastard (aka Chris_L), Mar 2, 2012.

Page 190 of 244
  1. justgladtobehere

    justgladtobehere Well-Known Member

    justgladtobehere, Jun 5, 2018
    #2269
  2. The Big Ragu

    The Big Ragu Moderator Staff Member

    I posted at the time that we were calling the deposits "$1,000 non-interest bearing, 30-day demand notes," which at worst would get refunded later.

    What was so unbelievable to me about the snake charmer act he pulled off (continually pulled off until relatively recently) was that people essentially handed over half a billion dollars to Musk based on a carnival barker act. It bought him time and served to help him keep the bullshit flowing that much longer.
     
    The Big Ragu, Jun 5, 2018
    #2270
  3. da man

    da man Well-Known Member

    I love this line from the CNBC story:

    "In 2016, when Tesla TSLA unveiled the Model 3, CEO Elon Musk said that it would be able to produce between 100,000 and 200,000 Model 3 cars by the end of 2017 with a base price of $35,000.

    Instead, Tesla produced just 2,685 Model 3s in total for all of 2017."

    Oh, by the way, none of them produced yet cost even close to $35,000.
     
    Last edited: Jun 5, 2018
    da man, Jun 5, 2018
    #2271
  4. Inky_Wretch

    Inky_Wretch Well-Known Member

    Inky_Wretch, Jun 5, 2018
    #2272
  5. da man

    da man Well-Known Member

    da man, Jun 5, 2018
    #2273
    Inky_Wretch likes this.
  6. TigerVols

    TigerVols Well-Known Member

    TigerVols, Jun 12, 2018
    #2274
  7. goalmouth

    goalmouth Well-Known Member

    Chicago is expected to decide in the next few weeks on a proposal for an all-new express transit line from downtown to O'Hare, and The Boring Company is one of two contenders. The cost, which I would estimate conservatively at $3 billion (likely $6 billion when and if it's built) is supposed to be borne by the builders, farebox, etc., and not taxpayer subsidies. I can't see how Musk could possibly secure traditional financing, unless he partners with the big engineering companies like Bechtel, Aecom, Fluor, etc. In that case, he'll have to cede control in order to participate.
     
    goalmouth, Jun 12, 2018
    #2275
  8. The Big Ragu

    The Big Ragu Moderator Staff Member

    The headline to that story says it did the cuts "as it tries to turn a profit."

    Sure, Tesla would like to be profitable. But the drastic cost cutting measures have a more immediate purpose. He has raised billions of dollars -- in various ways. And he has blown through billions of dollars. And at their current cash burn rate, he is out of money within a year. ... unless he can go to the well again and raise more money. He might be having trouble accessing the debt or capital markets. He has gone to the well quite a few times already over the last 5, 6, 7 years and has missed on all kinds of promises. Plus, financial conditions have started to tighten. He has bonds coming due next year that are trading below par. So even though the debt markets might indulge another offering (there is all kinds of crap being funded still at junk bond ratings), it's going to come at a much steeper price. In the past, he has also used his stock price (which is in bubble territory) to raise cash -- by diluting the outstanding stock with secondary offerings. He never paid a price for it. But given that people no longer seemed to be as charmed by his act as they have been in the past, he'd have to worry that if he tries that again, the stock will actually *gasp* react rationally. ... like it has been diluted.
     
    The Big Ragu, Jun 12, 2018
    #2276
  9. TheSportsPredictor

    TheSportsPredictor Well-Known Member

    TheSportsPredictor, Jun 12, 2018
    #2277
  10. justgladtobehere

    justgladtobehere Well-Known Member

    Elon Musk's Boring Company Will Build High-Speed Train To Chicago's O'Hare Airport

     
    justgladtobehere, Jun 14, 2018
    #2278
  11. goalmouth

    goalmouth Well-Known Member

    goalmouth, Jun 14, 2018
    #2279
  12. TigerVols

    TigerVols Well-Known Member

    Yeah, this makes no sense. The animations make it look like the system is capable of moving about 20 people every 3 minutes or so, at max, given the funky loading of the people movers. How is this feasible?
     
    TigerVols, Jun 14, 2018
    #2280
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