Tesla will remain a public company, Musk confirms

[Shawn Knight]

A hot potato: Musk created quite a bit of controversy by teasing the idea of taking Tesla private. Critics said the move was done simply to manipulate the company's share value. It was enough to reportedly prompt an investigation by the Securities and Exchange Commission.

Tesla CEO Elon Musk earlier this month said on Twitter that he was considering taking the electric automaker private at $420 per share, adding that funding had already been secured. Musk clarified his stance nearly a week later in a follow-up blog post but we’ve since learned that Tesla will stay public after all.

In a blog post published Friday evening, Musk said that based on discussions that have taken place over the last couple of weeks and through consideration for what is best for the company, he came to realize a few things.

Based on shareholder feedback, Musk said it is apparent that most of the company’s existing shareholders believe they are better off proceeding as a public company. The sentiment, in a nutshell, Musk said, was “please don’t do this.”

The serial entrepreneur said he knew the process of going private would be challenging but upon further investigation, he realized it would be even more time-consuming and distracting than initially anticipated. That’s a problem considering Tesla “absolutely must stay focused on ramping Model 3 and becoming profitable.”

It would also add way more stress to his already busy life.

All things considered, Musk said he met with Tesla’s board of directors on Thursday and let them know that he now believes the best path is for the company to remain public. Musk said the board agreed.

“That said, my belief that there is more than enough funding to take Tesla private was reinforced during this process,” Musk added.

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https://www.techspot.com/news/76135-tesla-remain-public-company-musk-confirms.html

 

[captaincranky]

I'll translate Musk's response for you; "The Arabs came to their senses and backed out of the deal"....

And then, boyz and gurlz, Tesla's board of directors called Musk to the carpet and spanked him, for being a bad boy, and running his mouth. They did it a wink though, since he fraudulently drove up the stock prices, and they couldn't publicly condone such an action. There is after all, puiblic opinion and the SEC's possible response to little Elon's shenanigans to consider.

Maybe we should start a Techspot poll, to estimate Tesla's cumulative losses for 2018.

Plus maybe another to predict when they'll be able to stop building Tesla Model 3s, "under the big top", so to speak.

 

[cliffordcooley]

And then, boyz and gurlz, Tesla's board of directors called Musk to the carpet and spanked him, for being a bad boy, and running his mouth.

See cranky we all have our topics we post drivel about. This topic is yours.

 

[EEatGDL]

And now, ladies and gentlemen: he will face the consequences of the investigation for confirming market manipulation.

 

[Reachable]

Yeah, well he caved in to the pressure. He said as much.

No one with any understanding would prefer to have shares of their business traded about in a game if they didn't have to. The lesson to be learned here, I guess, is that once you've taken the plunge it's not so easy to extricate yourself, and I suspect that the reason for the resistance from the shareholders is more fear of the unknown than anything else.

In the blog post, Musk said "Additionally, a number of institutional shareholders have explained that they have internal compliance issues that limit how much they can invest in a private company." What the hell difference should that make? Somebody please tell me.

I actually care about this because I do like to see anything that might indicate that the influence of the stock market is weakening. Not this time.

 

[Uncle Al]

All well and good but, he still has four SEC investigations he has to get through and God help him or anyone associated with that corporate group that bought or sold stock during the fiasco ..... I wonder if Martha Stewart left behind some clean sheets for the next occupant .......

 

[captaincranky]

See cranky we all have our topics we post drivel about. This topic is yours.

Right Cliff. Musk's brother is on Tesla's board of directors, and that's at least part of the reason he's still there.

I don't think Musk starting a rumor of taking Tesla private to drive up stock prices in any way compares to the semantic nonsense you persist in posting about, "net neutrality", not meeting your picayune and histrionic standards.

The fact of the matter is, Tesla lost very close to 2 billion dollars last year, and it's reasonable to wonder what losses it might post during this fiscal year.

So, you lost the "net neutrality" nonsense by a consensus of the membership. I think it's cute you've been lurking, waiting for an opportunity to "get even", but it's also patently transparent.

How long will Tesla workers be content to build the Model 3 in a tent? How much Musk flavored Kool-aid have they consumed? How much have you, and the rest of the naive here, drank as well?

 

[bas416]

This guy is a genius in keeping himself in the news, but lately his actions seem more and more desperate.

 

[wiyosaya]

Musk. SMH

All well and good but, he still has four SEC investigations he has to get through and God help him or anyone associated with that corporate group that bought or sold stock during the fiasco ..... I wonder if Martha Stewart left behind some clean sheets for the next occupant .......

Its about time someone gave the impudent and petulant brat a good spanking - as if $2bn in losses for last year aren't enough.

This guy is a genius in keeping himself in the news, but lately his actions seem more and more desperate.

You noticed that, too? LOL

 

[DaveBG]

See cranky we all have our topics we post drivel about. This topic is yours.

Right Cliff. Musk's brother is on Tesla's board of directors, and that's at least part of the reason he's still there.

I don't think Musk starting a rumor of taking Tesla private to drive up stock prices in any way compares to the semantic nonsense you persist in posting about, "net neutrality", not meeting your picayune and histrionic standards.

The fact of the matter is, Tesla lost very close to 2 billion dollars last year, and it's reasonable to wonder what losses it might post during this fiscal year.

So, you lost the "net neutrality" nonsense by a consensus of the membership. I think it's cute you've been lurking, waiting for an opportunity to "get even", but it's also patently transparent.

How long will Tesla workers be content to build the Model 3 in a tent? How much Musk flavored Kool-aid have they consumed? How much have you, and the rest of the naive here, drank as well?

Its funny when someone is trying hard to sound smart attacking Musk , when everyone knows that Musk is the person that changed the biggest industry in the world - the car and oil industry LOL. Try harder

 

[captaincranky]

Its funny when someone is trying hard to sound smart attacking Musk , when everyone knows that Musk is the person that changed the biggest industry in the world - the car and oil industry LOL. Try harder

Dude, the petroleum industry is alive and well. You live in a fantasy world where there's a charging station on every corner. Look closer, those are gas pumps. Musk can't get the Teslas he's promised out the door. His "$35,000" Model 5, now starts at $49,000. So, you can "LOL" all you want. Just make sure you keep those rose colored glasses screwed on real tight..

Now run along, and finish your Kool-aid

 

[bas416]

Its funny when someone is trying hard to sound smart attacking Musk , when everyone knows that Musk is the person that changed the biggest industry in the world - the car and oil industry LOL. Try harder

You must be kidding. That guy is nothing more than handsome guy playing the "superhero genius ceo" role Jobs started. Check how funny it is with poor Lisa Su, I bet she hates her staff for it.

 

[DaveBG]

Dude, the petroleum industry is alive and well.

Its not, and you are the living proof of it. Defending it like there is no tomorrow.

You live in a fantasy world where there's a charging station on every corner.Look closer, those are gas pumps.

Its funny, because everywhere I look there is a power socket. Nope it is not a gas station unless they have made them 4x4 centimeters now ? BTW its so inconvenient to go to those locations and drop cash every few days. In my world I never need to stop and have full "fuel tank" every morning.

Musk can't get the Teslas he's promised out the door. His "$35,000" Model 5, now starts at $49,000. So, you can "LOL" all you want. Just make sure you keep those rose colored glasses screwed on real tight..

Now run along, and finish your Kool-aid

And what are you going to do next year when it is released? I know , you will pretend you never trolled hard against it since no one will bother to dig out your ridicules comments.
BTW Nissan just started production of their 24 000 EV... so do not tell me its impossible.

 

[captaincranky]

Its not, and you are the living proof of it. Defending it like there is no tomorrow.

WTF are you talking about? If everybody in the US bought an electric car tomorrow, the petro chemical industry would survive. You do understand they sell the diesel fuel which turns the generators, that make the electricity, which charges the cars, don't you?

Its funny, because everywhere I look there is a power socket. Nope it is not a gas station unless they have made them 4x4 centimeters now ? BTW its so inconvenient to go to those locations and drop cash every few days. In my world I never need to stop and have full "fuel tank" every morning.

It takes a couple of hours or more to charge an electric car, and about five minutes to fill a tank. I'm starting to realize you live in "Wonderland", but most of the rest of the world doesn't. Think about the guy who live in a 4th floor apartment without a parking space, (there are plenty of them out there), how does he charge his car? Wait, I know. He can pay a few hundred dollars a month for a parking spot equipped with a charging socket. Oh well, there go those gas savings

IAnd what are you going to do next year when it is released? I know , you will pretend you never trolled hard against it since no one will bother to dig out your ridicules comments.
BTW Nissan just started production of their 24 000 EV... so do not tell me its impossible.

Look, the Model 3 is already released. I don't know how such a forward thinking pseudo-intellectual such as yourself could have missed that The only problem is, Musk can't deliver enough cars to meet the demand. The cars they are shipping, are the ones with the most extras, and hence the highest priced.

Musk is writing checks with his mouth, that Tesla simply can't cash. Accordingly, he's reduced to blatant stock swindles, like, "taking Tesla public". The stock price up tick from that fantasy, kept the company solvent for a time. Musk is also planning a move to China with a new factory. Once he has workers he can abuse with low hours and low pay, Tesla might indeed become profitable. And I hope to god the US government puts a huge tariff on those vehicles, should he decide to attempt to import them back into the US. After all, Uncle Sam has been bailing this fool out with tax breaks for what seems like decades.

The only business he has doing well, (?) is Space-X. The reason for that is, he's basically on the same parking lot as NASA, and they're tossing him bones. So, the only Musk company which is still doing well, is living off US government breadcrumbs.He's more like a tick on the a** of the US taxpayer, but I don't feel like splitting hairs with you.

And BTW, asphalt is a petrochemical. So are the plastic parts that Teslas are made of. The need for oil certainly isn't limited to gasoline. Read this: https://en.wikipedia.org/wiki/Petrochemical

I don't think your one track electric car mind can handle it. But what the hell, give it a shot.

By the way, all of the things I've published about Musk, have been taken from Techspot articles, the national news, and other sources such as Forbes magazine.

And yet, you live in "Musk the Magnificent's fantasy world", and persist in calling me a "troll". Grow up.

 

[wiyosaya]

You must be kidding. That guy is nothing more than handsome guy playing the "superhero genius ceo" role Jobs started. Check how funny it is with poor Lisa Su, I bet she hates her staff for it.

Hey, wait! Comparing Lisa Su with Musk? That is wrong on so many levels. Su really is a genius, and humble, no less, whereas Musk is just full of himself. Su is slaying sIntel while Musk is about to be slain by the SEC.

Its funny when someone is trying hard to sound smart attacking Musk , when everyone knows that Musk is the person that changed the biggest industry in the world - the car and oil industry LOL. Try harder

When the real players come along with their well-thought-out designs and significantly better batteries, Musk will be little more than a memory. Musk has had to walk back many plans - not only with Tesla, but with SpaceX, too, because he's blown his mouth off like his flamethrower without actually being able to think 30-seconds past what he said and realize reality takes a lot more than imagination.

And because he passed some more gas on this taking Tesla private crap, Tesla's stock is once again on the downfall. He'll be answering to the SEC because of that gas attack.

 

[captaincranky]

...[ ]....because he's blown his mouth off like his flamethrower without actually being able to think 30-seconds past what he said, and doesn't realize reality takes a lot more than imagination (*)...[ ]....

God, Musk pisses you off to the point where you almost completely dispense with commas when you're talking about him.. (BTW, I fixed that for you).

(*) Someone else's stolen science fiction pipe dreams, are what Musk has managed to convince himself are his past accomplishments. So we're clear.

Let's face facts. The whole "I'm going to launch 12,000 satellites for global internet",and then using what was essentially a moon rocket to launch a Tesla into space, should have been enough to convince even his most ardent supporters that he's in a manic phase, with paranoid delusions of grandeur.

 

[DaveBG]

WTF are you talking about? If everybody in the US bought an electric car tomorrow, the petro chemical industry would survive. You do understand they sell the diesel fuel which turns the generators, that make the electricity, which charges the cars, don't you?

Whit the shrink that is coming they will not survive (now I am not surprised you need this to be explained to you...). Drilling for oil is exceptionally expensive (surprise surprise) and once their margins start going away the price will skyrocket. Even more when the government subsidizing stops. It will burst like a ballon but it seem that you will be hanging for it until the end right?

Musk is writing checks with his mouth, that Tesla simply can't cash. Accordingly, he's reduced to blatant stock swindles, like, "taking Tesla public". The stock price up tick from that fantasy, kept the company solvent for a time. Musk is also planning a move to China with a new factory. Once he has workers he can abuse with low hours and low pay, Tesla might indeed become profitable. And I hope to god the US government puts a huge tariff on those vehicles, should he decide to attempt to import them back into the US. After all, Uncle Sam has been bailing this fool out with tax breaks for what seems like decades.

Yes you are suddenly the expert that was never given the opportunity to become successful and now only give advice in the form of hate comments. Suure you know how to run those billion dollar companies better right LOL

The only business he has doing well, (?) is Space-X. The reason for that is, he's basically on the same parking lot as NASA, and they're tossing him bones. So, the only Musk company which is still doing well, is living off US government breadcrumbs.He's more like a tick on the a** of the US taxpayer, but I don't feel like splitting hairs with you.

Yeah more of "I know how to do it he does not know"... Just stop cranky, you crank me up! LOL

I don't think your one track electric car mind can handle it. But what the hell, give it a shot.

Oh yeah , but as you have proven so far your mind can handle everything right? LOOOL

 

[captaincranky]

...[ ]...Yes you are suddenly the expert that was never given the opportunity to become successful and now only give advice in the form of hate comments. Suure you know how to run those billion dollar companies better right LOL

Let's wait and see if the SEC knows anything about how stock swindles wait. But more importantly, if you have any inkling as to how to recognize one..

In the mean time why not toddle along and kneel before your hero, Mr Musk. I'd "bet you a signed dollar", he'd accommodate you.

Ask him if he'd like to show you his mini submarine....

 

[wiyosaya]

God, Musk pisses you off to the point where you almost completely dispense with commas when you're talking about him.. (BTW, I fixed that for you).

(*) Someone else's stolen science fiction pipe dreams, are what Musk has managed to convince himself are his past accomplishments. So we're clear.

Let's face facts. The whole "I'm going to launch 12,000 satellites for global internet",and then using what was essentially a moon rocket to launch a Tesla into space, should have been enough to convince even his most ardent supporters that he's in a manic phase, with paranoid delusions of grandeur.

Thanks for the help.

I was actually saying what I said and looking at it from his perspective - as in "because he's blown his mouth off like his flamethrower without actually being able to think 30-seconds past what he (Musk) said and realize (as in Musk being able to realize) reality takes a lot more than imagination."

Technically, it was a list of two items and in such cases, commas are not generally used.

I can be very wordy sometimes.

You and I are in good agreement - Musk is an overzealous ignoramus living in a fictive reality. I bet he is surprised when he snaps his fingers and things don't happen.

 

[captaincranky]

I was actually saying what I said and looking at it from his perspective - as in "because he's blown his mouth off like his flamethrower without actually being able to think 30-seconds past what he (Musk) said and realize (as in Musk being able to realize) reality takes a lot more than imagination."

Technically, it was a list of two items and in such cases, commas are not generally used. ...[ ]....

OK, let's move on from yours and my favorite douche bag, and have some grammatical, "fun with semantics and syntax". <(shock quotes).

I honestly don't think the particular passage in question, can be legitimately formed using 2nd person pronouns, to form a 1st person monologue. Which excludes the quotation marks from availability.

But, since the series in question was two phrases, not two simple items, a comma would have been helpful.

In stating the same concept, even a musing of the inner workings of Musk's mind, however fictitious or inappropriate, (not saying that it was), should have been in the 1st person. I''ll rephrase:

Musk is most likely thinking(*), "my mouth is like my flamethrower, it consumes the hearts and minds of all those which it touches". "There's no such thing as stock manipulation, as far as it relates to anything I've said or done, I'm above it all". "Why I fart more advanced ideas out of my a**, than any normal human comes up with in his or her mind, during a lifetime". "When I say 'jump', people say, 'how high', not because they have to, but because I have led them to believe it's an honor and a privilege".

(*) I used the first phrase, "Musk is most likely thinking", to establish the speculative and fictitious nature of the comment.

I readily welcome, your take, on my take.

 

[wiyosaya]

OK, let's move on from yours and my favorite douche bag, and have some grammatical, "fun with semantics and syntax". <(shock quotes).

I honestly don't think the particular passage in question, can be legitimately formed using 2nd person pronouns, to form a 1st person monologue. Which excludes the quotation marks from availability.

But, since the series in question was two phrases, not two simple items, a comma would have been helpful.

In stating the same concept, even a musing of the inner workings of Musk'd mind, however fictitious or inappropriate, (not saying that it was), should have been in the 1st person. I''ll rephrase:

Musk is most likely thinking(*), "my mouth is like my flamethrower, it consumes the hearts and minds of all those which it touches". "There's no such thing as stock manipulation, as far as it relates to anything I've said or done, I'm above it all". "Why I fart more advanced ideas out of my a**, than any normal human comes up with in his or her mind, during a lifetime". "When I say 'jump', people say, 'how high', not because they have to, but because I have led them to believe it's an honor and a privilege".

(*) I used the first phrase, "Musk is most likely thinking", to establish the speculative and fictitious nature of the comment.

I readily welcome, your take, on my take.

Pure comedy! Said with truth in every word!

Here's what I usually follow for that strange animal, the comma - http://grammar.ccc.commnet.edu/Grammar/commas.htm

Keep those lessons up, though, you'll make a master of me yet!

 

[captaincranky]

Yeah, well he caved in to the pressure. He said as much.

Tn typical Musk fashion, everybody else is to blame for thwarting his grand designs. The repetitiveness and predictability of his evasions and duplicity are getting hard to stomach.

But, just as, "the bigger they are, the harder they fall", has become s a time worn, perhaps obsolete adage, a new one should be introduced to take its place. How about say, "the more intelligent they are, the more easily they bare duped".

Works for me...