Posted on 08/07/2018 10:45:40 AM PDT by SeekAndFind
I don’t consider Howard Hughes any kind of con-artist. He was a Patriot. He had his faults, but brain power wise way above Musk.
Most of the “subsidies” are from state and local governments for bringing jobs, economic activity, and higher property values to their areas. Most of the federal subsidies are going to customers according to the law. Being private wouldn’t affect either of those conditions.
Going private probably because it’s going to crash if the fed gov stops subsidizing it.
...
About 90% of Tesla “subsidies” come from state and local governments. The federal subsidies go to customers in the form of rebates.
Trading in Tesla has been halted news pending.
...
Interesting. A couple of more Musk Tweets say current shareholders can keep their shares or sell at 420.
how does the SEC let him get away with this crap? No one else can publicly speculate and pump up their shares!
“It actually makes us less efficient to be a public company.”
Lol.
The genius speaks! Wow, what a revelation!
Tesla is barely a $60 billion dollar company. probably more today since he’s pumping up the market cap via twitter.
but really this is a small company that gets far more press than it deserves.
Poof... I’m taking it private @ $420 a share... Except, except... I haven’t got that much cash, so will an IOU do?
Too funny... It’s terrible watching as this shyster melt down in public. Get those rockets fired up... And to the Moon he’ll go, or Mars, or pretty much anyplace without an extradition treaty.
Just a question.
A lot of people here seem to be down on Musk for taking government subsidies, ‘taking our tax money’, running a con game, etc.
But is he really doing anything by selling electric cars that any other car company isn’t doing? Don’t they all make some sort of electric or hybrid model? Don’t all the buyers of all these cars get government rebates?
How is Musk worse?
I saw an interview where he was comparing Edison and Tesla.
He favored Edison, because Edison understood markets and how to bring products to market, where Tesla didn’t.
As an economic nationalist and supporter of tariffs, I support Tesla. All Tesla cars are assembled in the USA (100%).
Don’t own a Tesla, but considering the Model 3 when they actually release the $35,000 model. Not interested in the $50,000 versions.
Exactly the first thought that came to mind when I read the title of the post.
I will wait until it drops to a price that I can gamble with, say $50.00 per share.
Shorts lost an estimated $900 million to $1 billion from time of Musk’s tweet to when stock started trading again.
how is that possible with all the public money hes taken in.
Earlier today, I announced that I’m considering taking Tesla private at a price of $420/share. I wanted to let you know my rationale for this, and why I think this is the best path forward.
First, a final decision has not yet been made, but the reason for doing this is all about creating the environment for Tesla to operate best. As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders.
Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term. Finally, as the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company.
I fundamentally believe that we are at our best when everyone is focused on executing, when we can remain focused on our long-term mission, and when there are not perverse incentives for people to try to harm what we’re all trying to achieve. This is especially true for a company like Tesla that has a long-term, forward-looking mission.
SpaceX is a perfect example: it is far more operationally efficient, and that is largely due to the fact that it is privately held. This is not to say that it will make sense for Tesla to be private over the long-term. In the future, once Tesla enters a phase of slower, more predictable growth, it will likely make sense to return to the public markets. Here’s what I envision being private would mean for all shareholders, including all of our employees.
First, I would like to structure this so that all shareholders have a choice. Either they can stay investors in a private Tesla or they can be bought out at $420 per share, which is a 20% premium over the stock price following our Q2 earnings call (which had already increased by 16%). My hope is for all shareholders to remain, but if they prefer to be bought out, then this would enable that to happen at a nice premium.
Second, my intention is for all Tesla employees to remain shareholders of the company, just as is the case at SpaceX. If we were to go private, employees would still be able to periodically sell their shares and exercise their options. This would enable you to still share in the growing value of the company that you have all worked so hard to build over time. Third, the intention is not to merge SpaceX and Tesla.
They would continue to have separate ownership and governance structures. However, the structure envisioned for Tesla is similar in many ways to the SpaceX structure: external shareholders and employee shareholders have an opportunity to sell or buy approximately every six months.
Finally, this has nothing to do with accumulating control for myself. I own about 20% of the company now, and I don’t envision that being substantially different after any deal is completed. Basically, I’m trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible.
This proposal to go private would ultimately be finalized through a vote of our shareholders. If the process ends the way I expect it will, a private Tesla would ultimately be an enormous opportunity for all of us. Either way, the future is very bright and we’ll keep fighting to achieve our mission.
Thanks, Elon
Sent from my iPhone
Don’t own a Tesla, but considering the Model 3 when they actually release the $35,000 model. Not interested in the $50,000 versions.
...
I don’t blame you, but they are getting a lot of conversions from people test driving the performance versions.
Yeah, but Howard dated some real babes in his time. Haven’t seen that kind of vitality in Musk.
“Don’t own a Tesla, but considering the Model 3 when they actually release the $35,000 model. Not interested in the $50,000 versions.
...
I don’t blame you, but they are getting a lot of conversions from people test driving the performance versions”
Tesla is losing moeny on current released models, if they are content to do the same in spades on the Base 35k model power to them. Loaded Model 3’s are 80k,Opt out of Autopilot/self drive. and it is 72k. No options ( most paint colors are an option) 53k for dual motor long range. Figure another 10% for T&L. Elon is going the deep pockets sugar Daddy route and probably that is Saudi’s whom will take it private.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.