SEC Sues Elon Musk for Fraud - Autoline
- Thread starter StevieC
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Maybe if he focused on one, large complex company versus 3 of them things would be going a little bit better. But he has other passions that he focuses on.
One man's visionary is another man's charlatan.
Anyway, LBOs are a vision from Wall Street MBAs.
Thing is they can only work with a company that has a nice pile of cash as well as plenty of fat to cut, neither of which apply here.
How many shares do you own?
As the old saying goes, put your money where your mouth is.
Anyway, LBOs are a vision from Wall Street MBAs.
Thing is they can only work with a company that has a nice pile of cash as well as plenty of fat to cut, neither of which apply here.
How many shares do you own?
As the old saying goes, put your money where your mouth is.
SEC-Elon settlement
https://money.cnn.com/2018/09/29/technology/business/elon-musk-tesla-sec-settlement/index.html
When Steve Jobs was booted out of Apple the company went into oblivion - he was begged to come back and it is a 1T company.
Innovation started with Elon with Tesla and hope it continues. Only founders know the value of their creations not some suited MBA.
https://money.cnn.com/2018/09/29/technology/business/elon-musk-tesla-sec-settlement/index.html
When Steve Jobs was booted out of Apple the company went into oblivion - he was begged to come back and it is a 1T company.
Innovation started with Elon with Tesla and hope it continues. Only founders know the value of their creations not some suited MBA.
Originally Posted by NoNameJoe
Well that was fast. He's out as chairman of the board, but still CEO, they also have to pay 20 million.
News article? I cant find anything.
Well that was fast. He's out as chairman of the board, but still CEO, they also have to pay 20 million.
News article? I cant find anything.
Originally Posted by MaximaGuy
SEC-Elon settlement
https://money.cnn.com/2018/09/29/technology/business/elon-musk-tesla-sec-settlement/index.html
When Steve Jobs was booted out of Apple the company went into oblivion - he was begged to come back and it is a 1T company.
Innovation started with Elon with Tesla and hope it continues. Only founders know the value of their creations not some suited MBA.
Most of Apples wealth was created under Tim Cook.
Musk is out as COB.
SEC-Elon settlement
https://money.cnn.com/2018/09/29/technology/business/elon-musk-tesla-sec-settlement/index.html
When Steve Jobs was booted out of Apple the company went into oblivion - he was begged to come back and it is a 1T company.
Innovation started with Elon with Tesla and hope it continues. Only founders know the value of their creations not some suited MBA.
Most of Apples wealth was created under Tim Cook.
Musk is out as COB.
Originally Posted by MaximaGuy
You are a fool to think a visionary like Elon will be replaced by some Wall Street MBA. Think back what happened to Apple.
No. MB, BMW, Renault Group, and VW/Audi (among other OEMS) will be producing and delivering real electric vehicles, at predatory pricing, while Tesla bleeds money. I hope Musk is right there at the helm when the blame gets pinned right to his nose.
You are a fool to think a visionary like Elon will be replaced by some Wall Street MBA. Think back what happened to Apple.
No. MB, BMW, Renault Group, and VW/Audi (among other OEMS) will be producing and delivering real electric vehicles, at predatory pricing, while Tesla bleeds money. I hope Musk is right there at the helm when the blame gets pinned right to his nose.
Originally Posted by bubbatime
Originally Posted by NoNameJoe
Well that was fast. He's out as chairman of the board, but still CEO, they also have to pay 20 million.
News article? I cant find anything.
Sorry, I originally posted it but removed it because MaximaGuy beat me to it (the post right above mine, that PimTac quoted).
I get that he's a visionary, I like the guy's idea and attitude toward stuff he's passionate about, no doubt about that.
But at the same time recently it's like he's unraveled mentally, he wasn't like that before. Lashing out at the media, shareholders, people trying to short his stock, it was like he became unhinged. I suspect the stress of everyone talking about whether Tesla would survive got to him. Then that Joe Rogan interview with the marijuana smoking? Even if it's legal in that jurisdiction, anyone with half a sense who knows they're the de facto face of one of the most visible companies in modern time, has got to know he can't act like that without causing people or the company some pain. He would have been better off just heads down focusing on what he needed to do.
The SEC settlement is not that bad. It means he can still set the goals and direction of the company but the chairman of the board can put the tamper on him, make sure the company is headed in the right direction fiscally and accountable to its shareholders. If I was an individual investor I would welcome that. There's no way I want to see my shares lose value because he ended up on a show smoking a doobie somewhere. He clearly wasn't concerned with what happened to the shareholders before (he's even admitted as much I recall). Otherwise he wouldn't have pulled those stunts that wiped out value on the stock. It's sad because there are individual investors who believe in him that he's hurting when he does that, it's not just institutionals like big banks.
Originally Posted by NoNameJoe
Well that was fast. He's out as chairman of the board, but still CEO, they also have to pay 20 million.
News article? I cant find anything.
Sorry, I originally posted it but removed it because MaximaGuy beat me to it (the post right above mine, that PimTac quoted).
I get that he's a visionary, I like the guy's idea and attitude toward stuff he's passionate about, no doubt about that.
But at the same time recently it's like he's unraveled mentally, he wasn't like that before. Lashing out at the media, shareholders, people trying to short his stock, it was like he became unhinged. I suspect the stress of everyone talking about whether Tesla would survive got to him. Then that Joe Rogan interview with the marijuana smoking? Even if it's legal in that jurisdiction, anyone with half a sense who knows they're the de facto face of one of the most visible companies in modern time, has got to know he can't act like that without causing people or the company some pain. He would have been better off just heads down focusing on what he needed to do.
The SEC settlement is not that bad. It means he can still set the goals and direction of the company but the chairman of the board can put the tamper on him, make sure the company is headed in the right direction fiscally and accountable to its shareholders. If I was an individual investor I would welcome that. There's no way I want to see my shares lose value because he ended up on a show smoking a doobie somewhere. He clearly wasn't concerned with what happened to the shareholders before (he's even admitted as much I recall). Otherwise he wouldn't have pulled those stunts that wiped out value on the stock. It's sad because there are individual investors who believe in him that he's hurting when he does that, it's not just institutionals like big banks.
He probably thought he was going to hurt the short positions, instead he made those that hung in there even more money.
Originally Posted by Garak
No. MB, BMW, Renault Group, and VW/Audi (among other OEMS) will be producing and delivering real electric vehicles, at predatory pricing, while Tesla bleeds money. I hope Musk is right there at the helm when the blame gets pinned right to his nose.
Agree. It is going to be the companies that have a gas engine division, that will wipe the floor with Tesla.
No. MB, BMW, Renault Group, and VW/Audi (among other OEMS) will be producing and delivering real electric vehicles, at predatory pricing, while Tesla bleeds money. I hope Musk is right there at the helm when the blame gets pinned right to his nose.
Agree. It is going to be the companies that have a gas engine division, that will wipe the floor with Tesla.
Originally Posted by demarpaint
He probably thought he was going to hurt the short positions, instead he made those that hung in there even more money.
What a difference a weekend can make, Musk cut a deal. He and Tesla take a $20 mil fine, he steps down as CEO. Smart move Elon. Hopefully the shorts covered Friday.............
He probably thought he was going to hurt the short positions, instead he made those that hung in there even more money.
What a difference a weekend can make, Musk cut a deal. He and Tesla take a $20 mil fine, he steps down as CEO. Smart move Elon. Hopefully the shorts covered Friday.............
Originally Posted by bubbatime
Agree. It is going to be the companies that have a gas engine division, that will wipe the floor with Tesla.
I'm not one who's in the market for an all electric vehicle, for darned sure. This climate isn't helpful. However, there are plug in electrics out there already from automakers that actually have dealers here, and produce actual cars, rather than promises. I have yet to see a Tesla in person.
Agree. It is going to be the companies that have a gas engine division, that will wipe the floor with Tesla.
I'm not one who's in the market for an all electric vehicle, for darned sure. This climate isn't helpful. However, there are plug in electrics out there already from automakers that actually have dealers here, and produce actual cars, rather than promises. I have yet to see a Tesla in person.
His strategy backfired on him.
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