Is Tesla in trouble?
05-10-2018, 11:08 AM
#1
Rennlist Member
Thread Starter
Is Tesla in trouble?
I have a friend who owns a very advanced machine shop and about two years ago, his company was granted a contract from Tesla to manufacture parts for the door locking mechanism. He said they were generally good payers, however, over the past few months, he has noticed that their account has been stretched from 30-45 days to 120 and counting. Excuses have ranged from changed payable software to "its in the mail". Now, financial analysts are suggesting that Tesla may have been using imaginative accounting to inflate key performance segments of their statements. I've always said that any company that relies on government subsidies for survival, shouldn't be in business. It won't take much in the way of bad news to make investors back away. If it turns out that Musk has been fudging numbers, investors will break into a full sprint.
05-10-2018, 11:14 AM
#2
Who'd a thunk it.
Solindra x100.
- ism. The big lie.
Solindra x100.
- ism. The big lie.
05-10-2018, 11:28 AM
#3
Rennlist Member
Thread Starter
Under any definition of "junk", Tesla bonds are exactly that. There could be a lot of people hurt on this one.
Cash holding don't always tell the story. These were the cash holdings of the you know whos, just before crashing:
Enron - $1.0B
GM - $14.0B
Worldcom - $1.4B
Tesla has $2.7B in cash and burned $1.1B in Q1
You don't always see it coming.
Cash holding don't always tell the story. These were the cash holdings of the you know whos, just before crashing:
Enron - $1.0B
GM - $14.0B
Worldcom - $1.4B
Tesla has $2.7B in cash and burned $1.1B in Q1
You don't always see it coming.
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05-10-2018, 09:37 PM
#8
Team Owner
Stiffing suppliers always ends in ruin. I figured Musk’s scheme was coming to a close three months ago. I thought he may make it to August but no further. At this point, he claims on week of model 3 production (2000 units). He needs week after week and cannot do it. He’s simply not an industrialist and despised the work that industrials do.
05-10-2018, 11:46 PM
#9
Official Wednesday AM Red Bull F1 test driver
Rennlist Member
Rennlist Member
Gotta wonder as I just saw two of the new Jag I-Pace electric SUV's recently and they looked VERY nice, especially next to the Model X... and when the Mission E comes out will the Model S really look that good???
05-11-2018, 02:37 AM
#10
Personally I’ve never understood the fascination with a car that has to be plugged in. It seems like a case of “The emperor has no clothes.” to me. I looked into buying a model S a few years back but decided on an S7 instead. All the plugging in and charging stuff just seems like a huge hassle to me. Why switch from something that can refuel in 5 minutes anywhere in the world to something that takes so much longer? If you are trying to save money why are you buying a $100k car? There’s a sucker born every minute. There are enough dum dums out there to keep this going though.
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TurboS_GG (12-10-2019)
05-11-2018, 11:01 AM
#11
05-11-2018, 02:56 PM
#13
Team Owner
The Mission E charging times are calculated using 880 current which is one wow of a current for householders to have. I have no idea what it'd take to run that current into your garage or the cost, but it won't be trivial.
Also people are buying Teslas due to them being not a car, but a tech company. it's some sort of hippie revolt against Detroit or other car makers. It'd be like if Apple had a car it'd sell in droves to the same crowd.
I think Tesla is done. No sane person would leave another deposit on vapor and no sane investor will toss in the bucks needed to get to production - assuming that's even possible.
Also people are buying Teslas due to them being not a car, but a tech company. it's some sort of hippie revolt against Detroit or other car makers. It'd be like if Apple had a car it'd sell in droves to the same crowd.
I think Tesla is done. No sane person would leave another deposit on vapor and no sane investor will toss in the bucks needed to get to production - assuming that's even possible.
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tblash (12-21-2019)
05-11-2018, 03:07 PM
#14
Banned
I have a friend who owns a very advanced machine shop and about two years ago, his company was granted a contract from Tesla to manufacture parts for the door locking mechanism. He said they were generally good payers, however, over the past few months, he has noticed that their account has been stretched from 30-45 days to 120 and counting. Excuses have ranged from changed payable software to "its in the mail". Now, financial analysts are suggesting that Tesla may have been using imaginative accounting to inflate key performance segments of their statements. I've always said that any company that relies on government subsidies for survival, shouldn't be in business. It won't take much in the way of bad news to make investors back away. If it turns out that Musk has been fudging numbers, investors will break into a full sprint.
05-11-2018, 03:49 PM
#15
Rennlist Member
The people I know who want a Tesla have - IMO - a tenuous-at-best grasp on common sense. My question is "how many neighborhood electrical grids could handle an influx of E cars today?" I'm guessing that's going to be a big hurdle to hop over. Another question, "how will all the electricity be produced?" It won't be produced by unicorns farting into batteries to be delivered via Uber drones. I'm guessing nuclear-powered plants and coal-fired plants.