LTLFTcomposite
Well-known member
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=289004&cl=20139616&src=finance&ch=1316259
Questionable Tesla subsidies
- Thread starter LTLFTcomposite
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LTLFTcomposite
Well-known member
EVDRIVER said:
Yeah, well this whole Tesla thing smells bad if you ask me, even before this report.
DeaneG
Well-known member
Fox news is so funny!
LTLFTcomposite
Well-known member
So what are the inaccuracies? Or is it just flawed because it is Fox News?
Where do we start...
First they blame the money on the Obama administration, it was awarded under a program initiated by Bush.
While the Roadster is low production and their income is certainly not matching their expenses, this was by design as part of a long range program intended to make Tesla a mainstream manufacturer in coming years.
They didn't mention the nearly 3000 site-unseen $5000 deposits on the upcoming Model S.
They didn't mention the numberous significant partnerships such as the recent one w/Toyota, the prior w/Daimler, the recent with Panasonic for batteries.
Is this still a high risk tech stock company...yup. But to suggest that the loan was a bad idea is just not fair to Tesla. The loan program was specifically designed to promote companies just like Tesla to bring new ideas, new vehicles and greener vehicles to the market place.
First they blame the money on the Obama administration, it was awarded under a program initiated by Bush.
While the Roadster is low production and their income is certainly not matching their expenses, this was by design as part of a long range program intended to make Tesla a mainstream manufacturer in coming years.
They didn't mention the nearly 3000 site-unseen $5000 deposits on the upcoming Model S.
They didn't mention the numberous significant partnerships such as the recent one w/Toyota, the prior w/Daimler, the recent with Panasonic for batteries.
Is this still a high risk tech stock company...yup. But to suggest that the loan was a bad idea is just not fair to Tesla. The loan program was specifically designed to promote companies just like Tesla to bring new ideas, new vehicles and greener vehicles to the market place.
LEAFer
Well-known member
To further illustrate Evan's point ...
Right at the start of the report ... second sentence: "Your tax dollars being used to help a rich inventor pay off his ex in a divorce settlement."
At about 2:35 "The only money he can depend on is this half-a-billion dollars from the feds." makes it sound like the "feds" are sticking it into Elon Musk's personal pocket ... (to pay his divorce settlement -- is implied).
At about 2:45 "... if half a billion tax payer dollars is going into paying for that IPO ... means my money is going into his divorce settlement"
WHAT!!?? :roll: Unless the federal gov't buys Tesla shares at the IPO ... like they "bought" shares in GM ... never mind ... not even worth dignifying with a response. Like Evan said ... the 465m is a Bush program and the specific Tesla LOAN GUARANTEES were already approved in advance of the IPO announcement after a stringent review process. (Actually I think they are low-interest loans (not guarantees) being closely monitored and dished out in small increments for specific Model S and power-train development.) So the 465m has nothing to do with the IPO (which is NEW money from other sources). (Yes, ok, the loans from the feds makes for a more viable company and a prettier IPO.)
Right at the start of the report ... second sentence: "Your tax dollars being used to help a rich inventor pay off his ex in a divorce settlement."
At about 2:35 "The only money he can depend on is this half-a-billion dollars from the feds." makes it sound like the "feds" are sticking it into Elon Musk's personal pocket ... (to pay his divorce settlement -- is implied).
At about 2:45 "... if half a billion tax payer dollars is going into paying for that IPO ... means my money is going into his divorce settlement"
WHAT!!?? :roll: Unless the federal gov't buys Tesla shares at the IPO ... like they "bought" shares in GM ... never mind ... not even worth dignifying with a response. Like Evan said ... the 465m is a Bush program and the specific Tesla LOAN GUARANTEES were already approved in advance of the IPO announcement after a stringent review process. (Actually I think they are low-interest loans (not guarantees) being closely monitored and dished out in small increments for specific Model S and power-train development.) So the 465m has nothing to do with the IPO (which is NEW money from other sources). (Yes, ok, the loans from the feds makes for a more viable company and a prettier IPO.)