Forbes: Tesla Green Car Production Circus Distracting From Solar City Woes
By Eric Worrall | Watts Up With That? | June 22, 2018
As Elon Musk ramps up the hype over whether Tesla will hit its Model 3 production targets, another financial disaster may be unfolding at Tesla’s subsidiary Solar City.
Tesla’s Constant Turmoil Can’t Hide The Fact That SolarCity Is Dying
Jim Collins
JUN 22, 2018 @ 03:07 PMI am convinced that the financial media will never end its fascination with Tesla and this week has been even more rife with intrigue than most. While the actions of self-proclaimed whistleblower Martin Tripp—including his extraordinary email exchange with CEO Elon Musk—have garnered most of the headlines, there are more relevant news items for investors. Thursday’s Reuters article has the details of Tesla’s abrupt shutdown of a major part of its SolarCity sales network, and the ending of the company’s partnership with Home Depot had been announced last week in the press release detailing Tesla’s workforce reductions.
As Tesla’s struggles to perform the most basic assembly tasks at its Fremont car plant grab the headlines, the SolarCity news is signaling to the market a reality of which I have been convinced for some time: SolarCity is worthless. So, now the focus has to shift to that transaction, in which the former Tesla Motors paid 11 million shares of its stock to a company that was also chaired by its chairman and CEO and run on a day-to-day basis by his cousin (SolarCity’s former CEO Lyndon Rive.) The conflicts of interest were so obvious then, and even though most of Tesla’s Board members recused themselves from the SolarCity acquisition process, the simple fact is that Tesla picked up a lemon when they drove SolarCity off the lot.
…
How would the market perceive such a write-off given that Tesla is contractually obligated to spend $5 billion in capital in the ten years following the completion of the currently-in-construction (also being built by Panasonic) Gigafactory 2 in Buffalo? I am terrible at predicting Tesla’s share price movements over the short-term, but over the long-term, SolarCity will be a huge drain on the value of a car company that has been massively overvalued for years.
Full article: https://www.forbes.com/sites/jimcollins/2018/06/22/teslas-constant-turmoil-cant-hide-the-fact-that-solarcity-is-dying/
How different things would have been had Hillary Clinton won. Hillary Clinton pledged to install five hundred million solar panels during her presidency. Solar City would likely have been front of the queue to supply those solar panels, and Elon Musk would likely have pocketed billions of dollars of taxpayers cash helping Clinton fulfil her solar pledge.
Perhaps a Clinton victory is what Elon Musk had in mind when he bought out Solar City, and signed binding deals to build those extravagant Gigafactories.
Elon Musk’s Financial Woes Begin to Mount
Sputnik – November 5, 2017
The business empire of Elon Musk, built with the help of government subsidies, is suffering considerable financial losses as certain ventures of his appear to be unable to meet the previously declared expectations.
Elon Musk has long been hailed by as a genius entrepreneur and a pioneer of technological advancement.
However, the financial problems that befell many of his enterprises appear to cast doubt upon Musk’s business acumen.
Earlier Tesla Motors reported a record $671 million quarterly loss while the company proved unable to meet its production goal (5,000 cars per week) for the Tesla Model 3, according to The Verge.
Also, the new tax cut proposed by Republicans threatens to deal a serious blow to Tesla Motors as it would strip the company of its $7,500 per vehicle federal tax credit.
And it appears that Tesla Motors, SpaceX and SolarCity were built with the help of almost $5 billion worth of government subsidies, making it look like “Musk and his companies’ investors enjoy most of the financial upside of the government support, while taxpayers shoulder the cost,” as the Los Angeles Times put it.
Interestingly enough, Tesla sales in Hong Kong and Denmark stalled after both areas did away with tax breaks for electric cars.
And it appears that, so far at least, Musk’s Hyperloop project has failed to produce a single model capable of reaching the speed of 400 km/h, let alone the promised 1,200 km/h.
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Revisionist History Books Banned by Amazon
By Michael Hoffman • Unz Review • August 25, 2018
On August 13, 2018 Amazon banned Judaism’s Strange Gods: Revised and Expanded, which was published in 2011 and sold by Amazon for the past seven years. Along with the much larger study, Judaism Discovered, (sold by Amazon since 2008), it has had an international impact both as a softcover volume as well as a digital book circulating on the Amazon Kindle.
Sales to India, Japan and the Middle East were rapidly growing. The digital Kindle format is particularly important for the free circulation of books because it bypasses borders and customs and hurdles over the prohibitive cost of shipping which the US Postal Service imposed on mail to overseas destinations several years ago (eliminating economical surface mail).
Amazon has also banned The Great Holocaust Trial: The Landmark Battle for the Right to Doubt the West’s Most Sacred Relic (sold by Amazon since 2010).
These volumes maintain a high standard of scholarly excellence, had a majority of favorable reviews by Amazon customers, are free of hatred and bigotry and have sold thousands of copies on Amazon. Out of the blue we were told that suddenly “Amazon KDP” discovered that the books are in violation of Amazon’s “content guidelines.” Asking for documentation of the charge results in no response. It is enough that the accusation has been tendered. The accused are guilty until proved innocent, although how proof of innocence is presented is anyone’s guess. There is no appeals process. This is what is known as “Tech Tyranny.”
There is a nationwide purge underway that amounts to a new McCarthyism — blacklisting and banning politically incorrect speech and history books under the rubric of “hate speech” accusations, initiated in part by two Zionist thought police organizations, the Southern Poverty Law Center (SPLC) and the Anti-Defamation League (ADL). It’s a flimsy pretext for censoring controversial scholarly books that can’t be refuted.
In addition to our books being hate-free, we note that there are hundreds of hate-filled Zionist and rabbinic books brimming with ferocious bigotry for Palestinians, Germans and goyim in general, which are sold by Amazon. … continue
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