Shareholders on both sides greenlight Tesla's acquisition of SolarCity

By Shawn Knight ยท 9 replies
Nov 17, 2016
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  1. Tesla Motors Inc. and SolarCity Corp. shareholders on Thursday approved Tesla’s $2.6 billion deal to purchase SolarCity, a move that – at least, on paper – should be beneficial to both parties.

    A spokesperson for Tesla told The New York Times that more than 85 percent of its shareholders voted in favor of the deal. Musk and other shareholders that hold leadership positions at the companies recused themselves from the vote. SolarCity shareholders also approved the deal although it isn’t immediately known what percentage of its shareholders gave it the green light.

    Tesla last month revealed plans for a second-generation residential battery system and an innovative solar roof system that utilizes textured glass tiles with integrated solar cells designed to look like the traditional roofing shingles on today’s homes.

    By Musk’s own admission, the solar roofing deal was largely contingent upon Tesla acquiring SolarCity. Musk said after today’s deal that volume production of solar roof components would begin next summer.

    With control of both companies, Musk has said that Tesla’s retail stores will become a one-stop shop for all things solar where customers can shop for an electric vehicle and purchase both solar panels and residential battery systems.

    Tesla’s acquisition of SolarCity is expected to be completed in the coming days.

    Lead image courtesy Mike Windle, Getty Images

    Permalink to story.

  2. Bigtruckseries

    Bigtruckseries TS Evangelist Posts: 583   +318

    Tesla is basically the new NASA.

    NASA, DARPA and ARPA couldn't get us to Mars because the politicians decided to fund Lockheed Martin's STS instead of the Mercury capsule program which by the way: got us to the moon.

    Behold: this is what it looks like when you privatize the innovation of electric cars.

    You get a $70,000 - $150,000 (and up) electric car that only the rich can afford. People who could have bought an Audi A7, S7 or RS7 only now they can not only have the ultimate green car, smell their own farts instead of CO2, and have privileges:

    #1 special low-emission vehicle parking
    #2 access to HOV lanes so they get there faster than your poor self.
    #3 special EV parking on liberal college campuses.
    #4 The ability to avoid polluting their own lungs since the point-of- emissions is in a poor neighborhood somewhere out of sight.

    All the money goes into the hands of a billionaire, a few investors and a handful of workers.

    The smart people (me) invested in Tesla back in 2012 and we get to watch our money on a roller coaster as shares went from $30 to $280 and fell back to $190 only to rise to $250 and then fall back to $188. We are up - but we have no idea how much higher we can go.

    Solar City is the next logical step because most of these solar companies are DC current with no battery backup for night time use and Tesla has a battery solution for you.

    We won't save the world.

    China and India will pump out more pollution in 1 day than the US produces in a year.

    But we can put money directly into the hands of the upper 10%.
    Last edited: Nov 17, 2016
    H3llion and Reehahs like this.
  3. H3llion

    H3llion TechSpot Paladin Posts: 1,377   +286

    Out of curiosity, how does one invest into these companies? Random investment portfolios online or directly via their own sharing programs?
  4. Uncle Al

    Uncle Al TS Evangelist Posts: 3,336   +1,984

    Tesla Motors Inc

    Traded on the open market, as of this morning going for $188.66 a share. No dividend. There are a number of predictions about it's maximum ceiling, but much will depend upon how well he can develop a total product solution that will work in the middle class markets. Solar solutions for the home still tend to have a 15+ year break even mark with life expectancy at 20-25 years, depending on where you live. In the South it tends to be lower. No information on how well homeowners insurance covers loss or damage, particularly for those in the new tornado belt, but it's coming and faster than earlier predicted. USA made products have suffered a bit in past years, particularly with the failure of the Hemlock production facility in TN. The Chinese have undercut the silicate market significantly as well.
  5. Bigtruckseries

    Bigtruckseries TS Evangelist Posts: 583   +318

    Start a Scottrade.
    Costs $500 to open an account (that's the minimum you can open with).
    You simply log in and place trades ($7 each).

    I bought into BLOZF because they are building Marijuana Breathalyzers.
    10,000 shares for .16 each.
    Now it's over .70 a share.

    ManuelV likes this.
  6. mbrowne5061

    mbrowne5061 TS Evangelist Posts: 747   +357

    I stopped reading after this.

    Tesla does almost zero hard science. They take the tech developed by universities and NASA, and turn it into consumer products. Very few companies fund their own research departments. The only one that I know 100 self-funds their research is iRobot. Everyone else makes their scientists pursue external grants for most of their funding. They also license IP/data from previous studies to save time and money. Tesla falls into the second category.

    ARPA was renamed DARPA in 1971 - they are the same thing.

    Lockheed's STS has almost nothing to do with aerospace hardware development, and absolutely nothing to do with the Mercury capsule

    The Mercury capsule was the USA's first manned capsule, and was not the capsule we took the Moon (Apollo).

    I wasn't able to find a single instance of public development of electric cars. Not even a so much as a defense project or call for information. Clectric car development has always been private - Tesla just made it cool.
  7. Bigtruckseries

    Bigtruckseries TS Evangelist Posts: 583   +318

    Tesla made it practical.

    There's no reason why the US government shouldn't have installed "superchargers" itself and used them for revenue. If not the state government themselves - the US government at least has the constitutional ability to do it on interstates.

    Now you've got chargers that you can use for free and many you can't . Many with charging standards, some without.
  8. mbrowne5061

    mbrowne5061 TS Evangelist Posts: 747   +357

    Municipals never had a reason to until EVs were relative common. EVs didn't become common until they became 'cool'. Had they installed chargers before there was a need, the politicians would have been ousted from office for 'wasted tax dollars'

    Even now, the municipal-owned charging stations remain controversial, because it is seen as either the govt. meddling with the private free market or as wasteful tax spending because it serves a minority and they get to use them for free (for now).

    I stick by my original point: Tesla succeeded because they made EVs cool - and they did that by being able to compare them to supercars in terms of speed and acceleration.
  9. H3llion

    H3llion TechSpot Paladin Posts: 1,377   +286

    Jeezus, I can see why its addicting. Why would someone gamble at a casino when trading stocks and shares is more entertaining for both the ego, brain and all around fun.

    Do you have to file invoices to get it taxed and so forth? I am in the UK so I guess id have to find an equivalent to Scottrade.
  10. Bigtruckseries

    Bigtruckseries TS Evangelist Posts: 583   +318


    Why gamble in a casino when I not only have a greater chance of returns, but I become an "owner" of companies?

    Every single month, I take at least $1000 from my Youtube money and sink it into either a single stock or a bunch of stocks for more shares.

    I bought 500 shares of Tesla back in 2012.

    I bought BLOZF a year ago.

    I bought into several marijuana companies in fact.

    Now that marijuana legalization is being pushed, the shares only increase in value.

    You can buy 10,000 shares of penny stock with ease. Sometimes less than $200.

    BLOZF gains are incredible.

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