Tesla - Elon Musk stands down
And is also handed a $27M fine
Last edited by ol' boy; 30-09-18 at 01:56 PM.
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
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yes, stands down as chairman, but he will stay on as CEO.
It could have been worse. In a announced today, Elon Musk and Tesla will each pay a $20 million penalty, while Musk has 45 days to step down as chairman and will be ineligible from holding that title for at least three years. The company will also appoint two new independent directors to its board.
But Musk will stay on as CEO, after many had begun to wonder how the carmaker in the driver’s seat. After a series of ill-advised tweets that angered many investors, there had been speculation he would be banned from serving as an officer at Tesla, or any public company. Musk co-founded Tesla 15 years ago, and he has steered it to a market cap eclipsing Ford’s, repeatedly confounding short sellers betting against him.
He ran into trouble after that he had secured funding to take Tesla private. (Later that month he announced he had .)
An (pdf) alleged that in doing so Musk issued “false and misleading” statements, while also failing to properly notify regulators of material company events.
He cited short sellers in his follow-ups about possibly taking Tesla private, having taunted them in the past and calling them “jerks who want us to die.”
In its complaint, the SEC said Tesla had notified the market in 2013 that it intended to use Musk’s Twitter account as a means of announcing material information about the company, and had encouraged investors to review Musk’s tweets. It added that the company did not have sufficient processes in place to ensure that Musk’s tweets were accurate or complete.
Without admitting to or denying the agency’s allegations, Musk and Tesla have agreed to settle the charges against them, according to the SEC. As part of the deal, it stated, the company’s board will “adopt important reforms—including an obligation to oversee Musk’s communications with investors.”
Cheers, Tiny
"You can lead a person to knowledge, but you can't make them think? If you're not part of the solution, you're part of the problem.
The information is out there; you just have to let it in."
ol' boy (30-09-18)
Yeah, i thought the CEO thing was strange also
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
He unfortunately got off way too lightly.
He can still be CEO so will still be able to head up the church of Tesla and keep the Koolade Drinkers in a bullshit induced haze of euphoria and denial
I think Tesla is gon with or without him though in the next 2-5 years. They have massive debt and no profit. Even if Musk announces a profit for this quarter, you can gaurantee it will be though suspect accounting practices to make debt look like income and hide the real Figures. They have over a Billion Falling Due in the next 6 Months which is a drop in the ocean On the 11Bn they owe in loans not to mention another 3bn owed to suppliers and more on top of that for other miscellaneous debts.
They have had the market to themselves since their start. Next year there will be a rain of competitive Vehicles come onto the market from the car manufacturing established players whom are profitable and are already joining forces to push Tesla out the game. Be at least 20 Competitive models all vying for a slice of the pie this time next year and a lot more the year after. Tesla will at best have 4 Models, 2 of which will be ancient by car model standards. R&D for any new models, including a Semi, will only provide a further cash drain on an already stretched company. There are already huge problems with servicing vehicles which the company has tied themselves exclusively into and growing discontent among owners for that. Reality and truth is starting to creep in about these cars which by all assessments, are not well built at all.
Tesla want to be a big player in China but the Chinese Gubbermint has decided they want to be the world electric car hub and Taking on the might of a manufacturing Giant like the Chinese Gubbermint is a war no western Company would want get into. Add to that the load of civil lawsuits being brought against the company over the Funding secured tweet which now have been given a lot more credibility. IF the DOJ get involved which is likely, Musk may get what he deserves for all his endless bullshit and unrealised promises.
The only people that think Tesla has a hope in hell of even short term survival are the Koolaide Drinkers. Take away the Hype and treat the company as one would any other without the magical story teller musk and rely on the numbers and you wouldn't go near such a farcical enterprise.
The magic and hot air is fast running out for Musk and Tesla.
VroomVroom (02-10-18)
Hey, hey, hey, what is with all this hate towards the guy.
He finally managed to inititate the upcoming EV car boom, although IMO about 30 years too late.
He wasn't doing too bad with his SpaceX projects.
However I was always worried he was biting off far more than he can chew.
He took on the role of evey deciding factor in his company and this has led to a mental fiasco!
It is a big shame, it really is.
I was starting to see a little bit of future for mankind thanks to Elon Musk but now with his demise it will all go back to developing (space)weapons or whatever BS Trump has in mind.
Update: A deletion of features that work well and ain't broke but are deemed outdated in order to add things that are up to date and broken.
Compatibility: A word soon to be deleted from our dictionaries as it is outdated.
Humans: Entities that are not only outdated but broken... AI-self-learning-update-error...terminate...terminate...
I tend to agree with much of what you say. His trouble is he thinks he can do, and meddle in everything....a bit like Howard Hughes in that sense.Originally Posted by nomeat
I wouldn't fancy living in a battery operated South Australia.....
The fact that there's a highway to hell and a stairway to heaven says a lot about the anticipated traffic flow.
Stating FACTS is not hate no matter whether you want to hear it or not.
When he does go down through his own arrogance and belligerence, the fan bois will blame everything and everyone except the person that brought it all on himself and was totally responsible for his own undoing.
VroomVroom (02-10-18)
Stating only negative facts = hate to me and it looks like the media sharks love this.
Nobody disagrees that it is his own fault, no sleep, allegedly trying to keep awake using bad drugs, taking on too much responsiblity for anybody to handle,
but this is all evidence how truely devoted he is and not some lousy director focussed only on their remuneration.
All entrepreneurs and explorers have debt but he put the money(initially) in the right places.
He is no genius but he mangaged to accumulate geniuses.
Not so bothered with Tesla anymore but big shame if SpaceX goes down too.
I want to first see if he can recover by 'just being a CEO' before writing him/them off.
Update: A deletion of features that work well and ain't broke but are deemed outdated in order to add things that are up to date and broken.
Compatibility: A word soon to be deleted from our dictionaries as it is outdated.
Humans: Entities that are not only outdated but broken... AI-self-learning-update-error...terminate...terminate...
Personally i love the guy, he did things no one else wanted to do, when he got it working everyone took notice.
Then the big cashed up vehicle manufacturers stepped in, EV's will soon be very affordable, he will be just a memory that laid the road for others to follow.
Yes China will be the one to take his hard work and investments to the cleaners, they will have no issues ripping off all his hard work and improving on it.
China is China, come in bring your plants so we can learn from you and then rip it off......but buyers wont care because all they look at is their hip pocket.
China got a Vestas to build a small wind farm for this very reason
They then went about copying it and making it cheaper to sell to the local market.
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
He took on a Niche market that no one else WANTED to do because they had already stuck their toe in the water and found it wasn't profitable, just like Musk has so far found.
There was the volt, the Bolt, the leaf and others. None of them were a profitable product. I hear this thing all the time about him being the first but I just don't see any merit in that.
He set up a business that produced a product that was ahead of it's time and so costly to build that the return on that investment still haven't come within a million miles of being on the horizon and probably never will be.
Innovation and pipe dreams and all that is great but what the disciples don't seem to get is he is playing with other peoples MONEY to indulge these fantasy's and so far, the best thing he has done is piss it up the wall. If he wanted to indulge his dreams, he should have foot the bill himself.
No merit to me in creating a failed business no matter how lofty the goal it hides behind.
No one denys that he did create a market that wasn't there before. His greatest assett is undoubtedly that of a story teller and someone who inspires. That's all good and well and the world needs these people HOWEVER, running a business is a very different thing and basically, he sucks at it. He should be the head of new products and inspiration where his talents can be best utilised and leave someone at the helm to run the Business in a worthwhile fashion. Certainly now the thing is up and running.Then the big cashed up vehicle manufacturers stepped in, EV's will soon be very affordable, he will be just a memory that laid the road for others to follow.
Musk was going to make an affordable $35K car. hasn't made one yet. Not even on their price list so that was at worst a crock and at best a broken promise. I would bet money there never will be a 35K Model S and bet more money there will be some story excuse to try and justify it.
As for other manufacturers stepping in, yes. It's called COMPETITION and every manufacturing company in the world has it. Thank god! When there is a monopoly you can bet the products are over priced and under featured, non reliable and the opposite of all the benefits competition brings. Competition will also no doubt push musk to further develop his products.
Detail to remember: Musk didn't invent the electric car. He's taking someone else's idea and hard work and improving on it.Yes China will be the one to take his hard work and investments to the cleaners, they will have no issues ripping off all his hard work and improving on it.
If you think he never bought a leaf or a Volt and had it reverse engineered and won't do that to the new vehicles from competitors to see how they are doing things as they bring their electric models out and rip off what suits Tesla, you are very Naive.
You can buy a report as thick as an encyclopedia on a load of products from toasters to cars to airliners that tell you about every nut and bolt in the thing, the processes used in their manufacture, weaknesses, cost of manufacture and components and every other detail about them. Car report costs $70K or less and all the manufacturers either buy one on their competitors or buy the product themselves and do their own reverse engineering.
A lot of people whom don't understand business have this mentality of " Wouldn't you love to have been the first ( MsDonalds/ Crapple/ cocacola/ whatever) business?
NO, I wouldn't because if you know anything about them, you realise they went tits up many times before they hit the worthwhile formula and then a bunch of other copied it and created competition and they weren't Chinese.
I have looked into manufacturing and selling a product I have come up with. I can get people to do the R&D, manufacture, marketing... the whole box and dice and sit back and reap the profit percentage with tiddly wink money up front. They TELL you straight up, you have 2 years at best to sell the product and make your money because by then, the Chinese manufacturers will be copying it and underselling you.... and this was from a Chinese based development company!
It's no secret, its the way of the world before Musk came along... Just as there were electric cars and what he has done is nothing new.
Something else to keep in mind: Musk goes on about the Future and clean cars and energy and all that as his Vision for the world. Did he intend that he and his company would be the only ones creating products that accomplish that? I doubt he's that stupid or misguided.
So you don't think anyone in America ever looked at a German or Japanese manufacturing operation and copied what they saw with that?China is China, come in bring your plants so we can learn from you and then rip it off......but buyers wont care because all they look at is their hip pocket.
The idea that a manufacturing Giant like China is going to copy anything off tesla I find Very amusing. What are they going to learn? How to build a tent for a factory, how to have the highest remake and return rate for any car manufacturing operation, how to struggle to build 5000 cars a week, how to create a logistics and delivery hell as well as a manufacturing one?
If someone is going to be learning anything by building a tesla factory in China, it won't be tesla that's for sure.
As far as the cars secrets, Look up Sandy Munroe and associates. He'll sell you a report that tells you everything you need to know about a Tesla don't to the size and number of the bolts, screws and washers in the thing. They will also sell you a report on a lot of Japanese and Chinese made products.
As for looking at my hip pocket, You are right! I don't care at all about businesses that can't put a product in the market at a competitive price largely because of largely mis management and unessacary over heads. OTOH, do you go out and buy something at multiple times the price of what you can get a competitive product for just because you think they dreamed up the idea, did the R&D and were the first to come out with it? I don't think so.
I wouldn't have a Tesla anything as a gift, literally. No way in hell I am going to have something that has to be in touch with the the manufacturers HQ and get the green light before I can drive it or have it stopped because I haven't taken it for a service to their monopolized service centre. No way I'm going to have a vehicle I can't get ANY parts for except from the manufacturer.... who doesn't have any available for a month or more forcing my car off the road because of a minor fender bender.
Not going to have something artificially limited by big brother who tracks my every move either. FK that!
I will purchase something that I can do what I want with it not what the manufacturer wants me to do and limits me to.
Tesla caters for a Niche market. When others cater to different niches within that market and the consumers demands, that's not wrong doing on their part.
VroomVroom (03-10-18)
And in the mean time, we have brand new 3 phase Tesla Charge stations in our supermarket car parks offering FREE power
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
Are you sure?
Free charging does not come with every model. Some only have 400Kwh worth of Free supercharging.
In any case, all you need now is a $140K to $300K car to take advantage of the free "Fuel".
No idea george, but the EV chargers around here have no payment method (i imagine that is held in the vehicle or smart phone app)
They have been around here for years now
Last edited by ol' boy; 14-10-18 at 08:00 PM.
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
hey OB , that charging station has no power available , according to the little indicator light . can you fix it?
we have one of those Pisstin Leaf charging stations at our shopping centre , and there is never a Leaf parked in it , always a conventional car. Too bad if you did own a Leaf and wanted to charge it.
I wonder how Tesla's solar roof tile project is going BTW ?
There is a 3 phase 40amp isolator behind it.
It was switched off.
I sometimes see EVs getting charged here.
I've also used it for my own sneaky camping needs :-)
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
Does anyone know of a listing/ guide to where chargers are located in Oz?
I looked up a site yesterday and the only EV chargers they had listed were tesla chargers which are useless if you don't have a tesla.
Curious to see how many of these chargers are around atm?
There are lots of sites
They also list which EV can charge there
From what I've seen with unit I posted, they charge around 12 different brand EV
You will find out the entire list and more when you Google their website
Last edited by ol' boy; 15-10-18 at 10:17 AM.
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
Isolator
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
VroomVroom (16-10-18)
Go time
If u want to go on an expedition get a Land Rover, if u want to come home from an expedition get a Landcruiser!
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