We've already discussed the seemingly suicidal situation Tesla finds itself in with relation to its
2011 Roadster production cessation, but that SEC submission for the company's IPO is a long, long affair (which you may read below), and there were more nuggets of madness to be found. Apparently, CEO
Elon Musk is a busy man -- with CEO and CTO functions at
SpaceX and a chairmanship at SolarCity to attend to -- and so he couldn't possibly be expected to focus his full attention on ensuring that the
half billion dollar state loan his company received gets spent as wisely as possible. Add Musk's corporate bigamy to an expectation of "continuing losses" and dwindling waiting lists and you have to wonder who, other than the US government, will be buying shares when this offering goes public.
posted Feb 4th 2010 9:11AM
I wanted to invest. . . . .
@ElCapitan
Well you can still invest in my college fund. It'll pay off, i tell ya!
@ElCapitan I was thinking about it too. This wards me off greatly though =/
@ElCapitan Good thing you didn't then aye.
Does this remind anyone of a certain company called DMC? Sounds like it is following the same destructive path? (DMC=Delorean Motor Corp)
@TankerZ At least DMC actually produced and sold an original iconic car forever to be immortalized in the movies.
@(Unverified)
I know, I own one.
@TankerZ Possibly, I just hope they make another Back2TheFuture to feature it in.
Vaporware...
@(Unverified)
Vaporware? Vaporware means it never made it to the market. The Tesla Roadster has been on the market for a while now.
So basically the company is screwed because lotus is moving on right? Why not make a tesla evora with all the money the government threw at them
It was rumored on autoblog that tesla will kill the roadster in 2011, possibly making no money for that till 2012ish, when the Model S comes out.
http://www.autoblog.com/2010/01/29/wait-what-tesla-to-kill-the-roadster-in-2011/
@zilla And that's where the bridge money from you and me (i.e., the gubmint) comes in, right? Shouldn't half a billion be more than enough to keep the lights on and the engineers caffeinated until the S starts generating real revenue? If not, then Tesla deserves to die because it's terribly managed. That said, I really want them to be successful -- America needs a new car company based on the future, not anchored in the past.
Sure he doesn't. He's probably too busy creating another great scam such as paypal.
@giedrys
Mind telling me how Paypal is a scam?
http://creditshout.com/paypal-fees-vs-credit-card-fees-which-are-higher/
Paypal charges 0.9% over what credit card companies charge on a credit card transaction, that's a perfectly reasonable price for allowing anyone to accept credit cards for free and for keeping your credit card info safe.
The wheels are starting to fall off....
So sad, the S was my dream car.
I think the Model S will still come to fruition. And maybe I will be able to afford one by the time my kids move out of the house (only 17 years to go). Also by that time, my kids won't fit in the rear facing trunk seats any more... bummer.
Unfotunately, Musk's two big companies, Tesla and SpaceX, are now both relying on the gubmint to survive. Not the best business strategy.
It was my understanding that this was common practice in the corporate world? Board members are on other boards and are officers in other companies etc etc
I wish the Tesla alarmism would stop - have you guys never read a pre-IPO SEC submission before ? You have to disclose every little thing that could look bad. It's never a carefree laundry list to read, but it happens everytime. And Elon is more than capable of being CEO to Tesla while running SpaceX - he's "only" the CEO, after all... Relax everybody. No need to sensationalize this.
This photo is great, where'd you find it?
Tesla mustn't be that important to the future of automobiles as their marketing portrays them. I say that because the CEO doesn't really care, which possibly means many people under him in the company's hierarchy mustn't really care much about it either.
hmmm, anyone remember delorean ? this is looking rather familiar ;)