Musk endeavours

[BobbyD]

Elon Musk called the Covid lockdown in the USA "fascism" but has been very quiet about the Chinese Covid lockdown according to Sky Business news.

They wonder (prompted by Elon's fellow billionaire Jeff Bezos) if there will be a Chinese influence on Twitter in future, given Shanghai's importance to Tesla's profits.

https://news.sky.com/story/twitter-take ... a-12599276

regards

Howard

As far as I understand it, Twitter is banned in China. They have developed tiktoc.

Regards,

Doesn't stop the Chinese government using it....

[Mike4]

Elon Musk called the Covid lockdown in the USA "fascism" but has been very quiet about the Chinese Covid lockdown according to Sky Business news.

They wonder (prompted by Elon's fellow billionaire Jeff Bezos) if there will be a Chinese influence on Twitter in future, given Shanghai's importance to Tesla's profits.

https://news.sky.com/story/twitter-take ... a-12599276

regards

Howard

I had no idea Tesla were making a profit. Shows how behind the times I am.

A brief goggle shows yes, they are. How pleasing! Not that I have any shares...

[BobbyD]

Tesla shares slid more than 12 per cent on Tuesday, wiping more than $125bn off the electric carmaker’s valuation, a day after the company’s chief executive and largest shareholder Elon Musk clinched a deal to buy Twitter.

Musk is funding the $44bn takeover with $13bn of debt from Wall Street’s largest lenders, as well as a $12.5bn loan secured against his Tesla stake. The billionaire has not yet said how he will finance the remaining $21bn of cash that he has promised, raising the possibility that he will need to sell billions of dollars’ worth of shares in the carmaker.

- https://www.ft.com/content/cd047da9-b38 ... ed95400acb

[odysseus2000]

Elon Musk has bought Twitter. This has just been announced. $54.20 per share

Good news as far as I am concerned.
He might turn it from a left wing echo chamber into something more balanced.

If it was any good Facebook would have bought it...

Is the same idea that if the Tesla Berlin site was any good, then Mercedes would have bought it.

Meanwhile Tesla have begun making cars at giga Berlin.

Regards,

Come on, you can see the massive hole in that comparison can't you?

BMW didn't abandon the site because they wouldn't be able to develop the site, but because it would involve a long, arduous planning process with restrictions on how the site could be developed, which is exactly what Tesla got.

And yet, Tesla are making cars there and selling them.

BMW's balance sheet is ugly, no sign of good management in their accounts and still imho destined for bankruptcy.

Regards,

[odysseus2000]

Tesla shares slid more than 12 per cent on Tuesday, wiping more than $125bn off the electric carmaker’s valuation, a day after the company’s chief executive and largest shareholder Elon Musk clinched a deal to buy Twitter.

Musk is funding the $44bn takeover with $13bn of debt from Wall Street’s largest lenders, as well as a $12.5bn loan secured against his Tesla stake. The billionaire has not yet said how he will finance the remaining $21bn of cash that he has promised, raising the possibility that he will need to sell billions of dollars’ worth of shares in the carmaker.

- https://www.ft.com/content/cd047da9-b38 ... ed95400acb

If Elon is selling we will see the disclosures of the sales (Form 2? SEC) by Thursday of this week.

Regards,

[odysseus2000]

Elon Musk called the Covid lockdown in the USA "fascism" but has been very quiet about the Chinese Covid lockdown according to Sky Business news.

They wonder (prompted by Elon's fellow billionaire Jeff Bezos) if there will be a Chinese influence on Twitter in future, given Shanghai's importance to Tesla's profits.

https://news.sky.com/story/twitter-take ... a-12599276

regards

Howard

I had no idea Tesla were making a profit. Shows how behind the times I am.

A brief goggle shows yes, they are. How pleasing! Not that I have any shares...

At the current share price and quadrupling the last earnings numbers, they trade on a p/e of around 79.

Regards,

[BobbyD]

Good news as far as I am concerned.
He might turn it from a left wing echo chamber into something more balanced.

If it was any good Facebook would have bought it...

Is the same idea that if the Tesla Berlin site was any good, then Mercedes would have bought it.

Meanwhile Tesla have begun making cars at giga Berlin.

Regards,

Come on, you can see the massive hole in that comparison can't you?

BMW didn't abandon the site because they wouldn't be able to develop the site, but because it would involve a long, arduous planning process with restrictions on how the site could be developed, which is exactly what Tesla got.

And yet, Tesla are making cars there and selling them.

BMW's balance sheet is ugly, no sign of good management in their accounts and still imho destined for bankruptcy.

Regards,

...after you have spent how many posts bleating that it isn't fair that the planning process is slow, and accussing the Germans if trying to sabotage Tesla?

[odysseus2000]

If it was any good Facebook would have bought it...

Is the same idea that if the Tesla Berlin site was any good, then Mercedes would have bought it.

Meanwhile Tesla have begun making cars at giga Berlin.

Regards,

Come on, you can see the massive hole in that comparison can't you?

BMW didn't abandon the site because they wouldn't be able to develop the site, but because it would involve a long, arduous planning process with restrictions on how the site could be developed, which is exactly what Tesla got.

And yet, Tesla are making cars there and selling them.

BMW's balance sheet is ugly, no sign of good management in their accounts and still imho destined for bankruptcy.

Regards,

...after you have spent how many posts bleating that it isn't fair that the planning process is slow, and accussing the Germans if trying to sabotage Tesla?

Yes, and then Putin invade Ukraine and Germany realised they depended on Putin's hydro-carbons and they didn't like that and wanted an alternative and so a top level command went out from Berlin to the folk controlling the approval process to approve the Tesla factory and it was done.

Regards,

[odysseus2000]

Interesting that the price of Twitter is over $5 less than the Musk take out price.

Is this an arbitrage opportunity or can the deal still be reasonably expected to fail?

I have gone for the former.

Regards,

[BobbyD]

Is the same idea that if the Tesla Berlin site was any good, then Mercedes would have bought it.

Meanwhile Tesla have begun making cars at giga Berlin.

Regards,

Come on, you can see the massive hole in that comparison can't you?

BMW didn't abandon the site because they wouldn't be able to develop the site, but because it would involve a long, arduous planning process with restrictions on how the site could be developed, which is exactly what Tesla got.

And yet, Tesla are making cars there and selling them.

BMW's balance sheet is ugly, no sign of good management in their accounts and still imho destined for bankruptcy.

Regards,

...after you have spent how many posts bleating that it isn't fair that the planning process is slow, and accussing the Germans if trying to sabotage Tesla?

Yes, and then Putin invade Ukraine and Germany realised they depended on Putin's hydro-carbons and they didn't like that and wanted an alternative and so a top level command went out from Berlin to the folk controlling the approval process to approve the Tesla factory and it was done.

Regards,

So BMW were right, but Tesla got lucky when Russia invaded Ukraine?

It's a theory.

[BobbyD]

Elon Musk loses bid to escape SEC deal over tweet saying ‘funding secured’ for Tesla

A federal judge rejected Elon Musk’s request to quash a 2018 agreement with the Securities and Exchange Commission over his claim he had “funding secured” to take his electric vehicle maker Tesla private.

The regulator sued Musk after he allegedly engaged in fraud in August 2018 by telling his 22mn followers on Twitter that had secured financing to take Tesla private at $420 per share.

Musk ultimately settled, agreeing to pay a $20mn fine and step down as Tesla chair. The agreement also forced the billionaire to obtain preapproval for any written communications material to Tesla, including on Twitter, the social media platform that he is now taking private in a $44bn deal.

Musk also agreed he would not deny the allegations of the complaint or imply it was without factual basis.

The SEC subsequently subpoenaed Musk last November after he asked Twitter users if he should sell part of his stake in Tesla, the ruling said, in order to determine if he had sought approval for them. Musk in March asked the court to quash portions of the subpoena and terminate the consent decree, saying the regulator lacked authority to issue the demand and arguing the subpoena was issued in bad faith.

US District Judge Lewis Liman denied the request in a decision on Wednesday: “Musk cannot now seek to retract the agreement he knowingly and willingly entered by simply bemoaning that he felt like he had to agree to it at the time but now — once the spectre of the litigation is a distant memory and his company has become, in his estimation, all but invincible — wishes that he had not.”

https://www.ft.com/content/79d15600-036 ... 45d0c28aff

[BobbyD]

Controversy grows after Musk engages with tweets criticizing Twitter staff

Acquisition agreement allows Musk to tweet about deal but not to disparage firm or its representatives

- https://www.theguardian.com/technology/ ... ition-deal

[odysseus2000]

The recent Musk v SEC case does still not seem to lead to the return to shareholders of the 20 million the sec got from Musk.

Additionally the decision looks very suspect to me & I expect an appeal.

Regards,

[murraypaul]

The recent Musk v SEC case does still not seem to lead to the return to shareholders of the 20 million the sec got from Musk.

Why would shareholders get money that Musk was fined personally?

[odysseus2000]

The recent Musk v SEC case does still not seem to lead to the return to shareholders of the 20 million the sec got from Musk.

Why would shareholders get money that Musk was fined personally?

The terms of the settlement were fines for Musk & SpaceX with the money being given to shareholders.

So far shareholders have not received a payout

Regards,

[odysseus2000]

Sorry last post should have said fines for Musk & Tesla, not SpaceX.

Regards,

[BobbyD]

The recent Musk v SEC case does still not seem to lead to the return to shareholders of the 20 million the sec got from Musk.

Additionally the decision looks very suspect to me & I expect an appeal.

Regards,

The verdict couldn't be any more cast iron if it were cast in iron.

Additionally you might want to consider that Musk's agreement with the SEC did not contain an admission of guilt. The deal wasn't a penalty for contravention of the law, it was an agreement that if Musk abides by the terms then the SEC will decline to prosecute. Since then a Judge has ruled the Tweet in question was untrue.

So even if Musk could walk away from his agreement with the SEC, he is walking away from protection from (likely successful) prosecution on the original charges he resigned as Chairman of Tesla and paid $20million to avoid...

[odysseus2000]

The recent Musk v SEC case does still not seem to lead to the return to shareholders of the 20 million the sec got from Musk.

Additionally the decision looks very suspect to me & I expect an appeal.

Regards,

The verdict couldn't be any more cast iron if it were cast in iron.

Additionally you might want to consider that Musk's agreement with the SEC did not contain an admission of guilt. The deal wasn't a penalty for contravention of the law, it was an agreement that if Musk abides by the terms then the SEC will decline to prosecute. Since then a Judge has ruled the Tweet in question was untrue.

So even if Musk could walk away from his agreement with the SEC, he is walking away from protection from (likely successful) prosecution on the original charges he resigned as Chairman of Tesla and paid $20million to avoid...

No, the argument Musk is making us that he was forced into the agreement by the SEC using tactics that went beyond their terms of reference.

I expect an appeal.

Regards,

[odysseus2000]

Elon has raised $4 billion from selling Tesla stock for the Twitter acquisition & apparently will not sell more:

https://twitter.com/teslapodcast/status ... DAqGpEjsSQ

Regards,

[BobbyD]

The recent Musk v SEC case does still not seem to lead to the return to shareholders of the 20 million the sec got from Musk.

Additionally the decision looks very suspect to me & I expect an appeal.

Regards,

The verdict couldn't be any more cast iron if it were cast in iron.

Additionally you might want to consider that Musk's agreement with the SEC did not contain an admission of guilt. The deal wasn't a penalty for contravention of the law, it was an agreement that if Musk abides by the terms then the SEC will decline to prosecute. Since then a Judge has ruled the Tweet in question was untrue.

So even if Musk could walk away from his agreement with the SEC, he is walking away from protection from (likely successful) prosecution on the original charges he resigned as Chairman of Tesla and paid $20million to avoid...

No, the argument Musk is making us that he was forced into the agreement by the SEC using tactics that went beyond their terms of reference.

I expect an appeal.

Regards,

Musk claimed the banks made him do it, which isn't an argument and that the SEC were overstepping by trying to enforce the agreement he signed. He also tried and failed to halt an investigation in to his Twitter poll about whether or not he should sell stock, and blatantly missed the notification deadline after his Twitter holding exceeded 5%.