Two More VPs Leave (Fired from?) Tesla

Status
Not open for further replies.
Joined
Dec 19, 2006
Messages
2,287
Location
Michigan
http://www.bloomberg.com/news/articles/2...t-challenge-yet

Quote:
Greg Reichow, Tesla's vice president of production and one of its highest-paid executives, and Josh Ensign, vice president of manufacturing, will leave the company.


Corporate drone-speak says everything is rosy, but Bloomberg reports:

Quote:
A person familiar with the situation who isn't authorized to speak about the matter said the executive changes are linked to delays, glitches, and a recall that have bedeviled Tesla's Model X.


All said, five VPs have left Tesla this year:

Quote:
Other senior executives who have left Tesla this year include Michael Zanoni, vice president of finance and worldwide controller; James Chen, vice president of regulatory affairs and deputy general counsel; and Ricardo Reyes, vice president of global communications.
 
Originally Posted By: MrHorspwer
Quote:
Greg Reichow, Tesla's vice president of production and one of its highest-paid executives, and Josh Ensign, vice president of manufacturing, will leave the company.


Quote:
A person familiar with the situation who isn't authorized to speak about the matter said the executive changes are linked to delays, glitches, and a recall that have bedeviled Tesla's Model X.


It looks like they were fired for not perform very well with model X.
 
In these situations, often only the manufacturing VP is worth their salt and irreplaceable... And thats assuming he is an engineer with real manufacturing experience, and knowing what is going on.

The others are dime a dozen, despite being paid a ton.

And yes, Ive interacted with Tesla execs before, and no, my comments dont necessarily relate to those leaving.
 
Elon Musk should fire himself. The Model X and it's gull wing doors is about as stupid as it gets. The company needs the model 3, and now. Gull wing doors are notoriously difficult to manufacture. Elon is smart, but also lacking in common sense.
 
Originally Posted By: Robenstein
Musk would have never gotten his businesses off the ground if it was not for Uncle Sam giving him nearly 5 billion in corporate welfare.

http://www.latimes.com/business/la-fi-hy-musk-subsidies-20150531-story.html

This LATimes story is totally bunk. Did you actually read the article and analyze each of the incentives they claimed Musk received ?

Quote:
"Government support is a theme of all three of these companies, and without it none of them would be around," said Mark Spiegel, a hedge fund manager for Stanphyl Capital Partners who is shorting Tesla's stock, a bet that pays off if Tesla shares fall.


Did you see the bias of this guy ? Who would benefit if Tesla stock falls.

Quote:
New York state is spending $750 million to build a solar panel factory in Buffalo for SolarCity. The San Mateo, Calif.-based company will lease the plant for $1 a year. It will not pay property taxes for a decade, which would otherwise total an estimated $260 million.

The federal government also provides grants or tax credits to cover 30% of the cost of solar installations. SolarCity reported receiving $497.5 million in direct grants from the Treasury Department.

Federal and states promote renewable energies, they give incentives to any and all reputable solar, wind ... companies. Not just SolarCity.

If New York state is so stupid so be it.

Quote:
Nevada has agreed to provide Tesla with $1.3 billion in incentives to help build a massive battery factory near Reno.

Tesla's Gigafactory didn't get more incentive than any other company with such large factory. It is standard of any new factory in any state, they all receive tax incentive for 10-20 years. Tesla's Gigafactory is not an exception.

Quote:
The Palo Alto company has also collected more than $517 million from competing automakers by selling environmental credits. In a regulatory system pioneered by California and adopted by nine other states, automakers must buy the credits if they fail to sell enough zero-emissions cars to meet mandates. The tally also includes some federal environmental credits.

Other automakers paid Tesla to comply with regulations of California and 9 other states. This $517 million isn't any government's money.

Quote:
Tesla buyers also get a $7,500 federal income tax credit and a $2,500 rebate from the state of California. The federal government has capped the $7,500 credit at a total of 200,000 vehicles per manufacturer; Tesla is about a quarter of the way to that limit. In all, Tesla buyers have qualified for an estimated $284 million in federal tax incentives and collected more than $38 million in California rebates.

Tesla buyers collected a total of $322 million and this author assign this amount to Tesla and Elon Musk.

An EV buyer of any make would receive similar credit, even if they buy from German or Japanese or Korean automakers.

So it is okay with you if someone buys a BMW i3 or Fiat 500e or Nissan Leaf to receive credit(s) from US governments but not if he/she buy a Tesla ? Even when Tesla is made in USA while other EV's are from foreign companies and made oversea.

One last thing, Tesla received about $500 million loan from Federal government few years ago, they paid it all back plus interest 2 years ago. The Federal government made some small profit with Tesla loan.

Federal government bailed out GM with a tune of $50 billion in 2008, they got back $38 billion after sold all GM stocks couple years ago for a lost of $12 billion.

Why don't you say anything about $12 billion lost in GM case and keep saying some small changes with Elon Musk and his 3 companies ?


Federal government may helped Space-X some years ago, but they reap the benefit now with much lower rocket launch cost that Space-X is charging.

Do some research about Space-X you will find out some interesting facts about it and ULA(United Launch Alliance) a joint venture of Boeing and Lockheed Martin. Hint, who got paid $1 billion (B not M) a year even without launching any rocket ?

http://seekingalpha.com/article/2495415-...launch-monopoly
 
Last edited:
Originally Posted By: HerrStig
Originally Posted By: Robenstein
Musk would have never gotten his businesses off the ground if it was not for Uncle Sam giving him nearly 5 billion in corporate welfare.

http://www.latimes.com/business/la-fi-hy-musk-subsidies-20150531-story.html

Good point. And how much of it was returned in the way of campaign "contributions"?

Rebuttal from Elon Musk on CNBC, you guys should watch it and read few comments.

Elon Musk said this about Jerry Hirsch, the author of the article in LA Times "if he was paid by the oil and gas industry he couldn't have written a more favourable article".

In the video CNBC showed subsidizes these companies received: Boeing $64B, GE $28B, Bechtel $5B and Exxon-Mobil $4B.

I don't know the other 3 companies yearly profit, but Exxon-Mobil made more than $20-30B a year, they don't need any handout but they received it.
 
First of all there have been a PLETHORA of reports on the subsidies Musk has received, not just the one from the LA Times. If there was no truth to them, Musk surely would be pursuing legal action against them for libel.

Also...I am against crony corporatism in all cases. As a libertarian, I don't think GM or Chrysler or Musk should be getting help from Uncle Sam. It is not the duty of the United States government to pick the winners and losers using tax dollars.
 
Originally Posted By: Robenstein
First of all there have been a PLETHORA of reports on the subsidies Musk has received, not just the one from the LA Times. If there was no truth to them, Musk surely would be pursuing legal action against them for libel.

Also...I am against crony corporatism in all cases. As a libertarian, I don't think GM or Chrysler or Musk should be getting help from Uncle Sam. It is not the duty of the United States government to pick the winners and losers using tax dollars.

What are those reports ? Can you itemize those subsidies up to $4.9B ? Carbon credit(paid to Tesla by other car companies) is a form of subsidy ?

Do you think Boeing, GE, Bechtel, Exxon-Mobil ... should get those billion dollar subsidies ? Boeing received $64B in various forms of subsidies and nobody say a word. Exxon-Mobil made more than $200B profit in the last 10 years and still received $4B from Governments without raising an eyebrow from anybody.

How about foreign companies such as BMW, MB, Audi, Nissan, Hyundai, Toyota, Honda ... are receiving subsidies from Federal and states governments ?

As a taxpayer and homeowner you may have some subsidies, one of them is mortgage interest. Is this okay with you ?
 
Last edited:
Status
Not open for further replies.
Back
Top