Tesla and Uber Unlikely to Survive...

[AstonZagato]

One should never underestimate the bubble in which billionaires exist. There is virtually nothing that ever happens to them that they do not request. No one can ever really say 'no' to them. They get their way on almost everything.

[RobDickinson]

Looks like it's settled.

According to the settlement docs:

• $20m personal fine
• Does not admit guilt
• Retains CEO
• Resign within 45 days from position as chairman of the board
• Barred from chairman of board for 3 years
• Hire 2 new independent members of board
• Required to abide by communication rules set by board

[EddieSteadyGo]

RobDickinson said:

Looks like it's settled.

According to the settlement docs:

• $20m personal fine
• Does not admit guilt
• Retains CEO
• Resign within 45 days from position as chairman of the board
• Barred from chairman of board for 3 years
• Hire 2 new independent members of board
• Required to abide by communication rules set by board

So he folded. Wonder who exerted what pressure to make him see sense...

ETA Suspect this is now ground zero for Musk. Someone laid out how things are going to play out from the point you decide to take on the SEC and get prosecuted and then possibly caught for securities fraud.

Suspect we will also soon see the Unsworth case settled too.

Edited by EddieSteadyGo on Saturday 29th September 23:18

[DJP31]

EddieSteadyGo said:

RobDickinson said:

Looks like it's settled.

According to the settlement docs:

• $20m personal fine
• Does not admit guilt
• Retains CEO
• Resign within 45 days from position as chairman of the board
• Barred from chairman of board for 3 years
• Hire 2 new independent members of board
• Required to abide by communication rules set by board

So he folded. Wonder who exerted what pressure to make him see sense...

Didn’t the earlier deal require him to resign from the CEO? Be fascinating to see how far the share price bounces back, especially as reports are they’ve exceeded production targets.

[saaby93]

RobDickinson said:

Looks like it's settled.

According to the settlement docs:

• $20m personal fine
• Does not admit guilt
• Retains CEO
• Resign within 45 days from position as chairman of the board
• Barred from chairman of board for 3 years
• Hire 2 new independent members of board
• Required to abide by communication rules set by board

Says here both he and Tesla have to pay $20m
https://www.bbc.co.uk/news/business-45696150
It's good money if you can get it
SEC must be laughing all the way to the bank

[EddieSteadyGo]

DJP31 said:

Didn’t the earlier deal require him to resign from the CEO?

I don't think so. It was always the Chairman role he would have to stand down from IIRC.

[RobDickinson]

EddieSteadyGo said:

I don't think so. It was always the Chairman role he would have to stand down from IIRC.

No it was all executive offices.

Tbh a reasonable result all round given the distraction. 20 mil is peanuts to Elon stock holding

[EddieSteadyGo]

RobDickinson said:

EddieSteadyGo said:

I don't think so. It was always the Chairman role he would have to stand down from IIRC.

No it was all executive offices.

Not sure about that. Reuters were saying the original deal was a nominal fine and giving up the chairman role for 2 years, plus a few other bits and pieces.

https://www.reuters.com/article/us-tesla-musk/musk...

[guindilias]

I've been shorting Tesla on a 5x leverage CFD, and loving it. Will probably cash out as soon as the market opens on Monday because I have no idea which way this will flip the stock...

[RumbleOfThunder]

For such an alleged genius, he really does a lot of stupid st.

[DonkeyApple]

[gangzoom]

guindilias said:

I've been shorting Tesla on a 5x leverage CFD, and loving it. Will probably cash out as soon as the market opens on Monday because I have no idea which way this will flip the stock...

Conversly my wife has just agreed to first dip in Tesla share, just opened an account with Halifax, think we'll try a releative modest 4 figure sum first as we've never ever bought any kind of shares ever .

Regardless of what Musk has been up to these cars are simply amazing, we've just come back from a family road trip in France, nearly 900 miles with a 2.5year old on board. The car was utterly flawless, and to think we have driven a 2.5 ton EV through Europe as easily as when we did in our old BMW 335i pretty much sums up how much Tesla have got the whole EV thing right. This is ultimatly why we are quite happy to gamble some more cash a company which so many seem to doubt.....A Model 3 purchase to go with our X is also now pretty much 100% confirmed!!

Edited by gangzoom on Sunday 30th September 09:08

[anonymous-user]

gangzoom said:

A Model 3 purchase to go with our X is also now pretty much 100% confirmed!!

Is that a musk confirmed or a real world confirmed?

[gangzoom]

jsf said:

Is that a musk confirmed or a real world confirmed?

I'll let you know when we get it.....Might have to wait 12 months though, rather save up for the Performance version rather than just 'make do' with the LR RWD version

[RobDickinson]

I think they'll be selling p3d's from day 1 in Europe might as well sell the higher earning cars.

[Heres Johnny]

RobDickinson said:

I think they'll be selling p3d's from day 1 in Europe might as well sell the higher earning cars.

Absolutely - the last car they'll want to sell is the cheaper ones, they'll just balance sales rates with production capacity and bring the spec down to match.

Gang, sounds like there's still plenty of time for your P3D purchase to be on and then off again a few more times

[gangzoom]

Heres Johnny said:

Gang, sounds like there's still plenty of time for your P3D purchase to be on and then off again a few more times

Its always been on, just not sure if we can justify the £10k+ perfomance version?? RWD LR is really all the car my wife needs. But you know as well as me the lure of the 'P' badge, as pointless as it is in real world use .

Tempted to stick a decent sized five figure sum into TESLA stock, but haven't got the balls so will just have a play with a much more modest sum.

Edited by gangzoom on Sunday 30th September 10:35

[RJG46]

gangzoom said:

Conversly my wife has just agreed to first dip in Tesla share, just opened an account with Halifax, think we'll try a releative modest 4 figure sum first as we've never ever bought any kind of shares ever .

You must be the only person in the UK with a Model X. Do you not feel you have done your bit for Tesla already.

[liner33]

RJG46 said:

You must be the only person in the UK with a Model X. Do you not feel you have done your bit for Tesla already.

He has had two !

[Evanivitch]

p1stonhead said:

This is why Tesla isn’t going anywhere in the minds of people and investors. Imagine anyone doing this for any other car company. The cult pull of Musk is powerful

https://jalopnik.com/everyday-heroism-fans-are-vol...

People are weird.

But no weirder that someone buying a German engineered car, built in Germany , owned by a French state-supported multinational and advertised as "British" because of some false idea of patriotism.