1. Welcome to SportsJournalists.com, a friendly forum for discussing all things sports and journalism.

    Your voice is missing! You will need to register for a free account to get access to the following site features:
    • Reply to discussions and create your own threads.
    • Access to private conversations with other members.
    • Fewer ads.

    We hope to see you as a part of our community soon!

Chevy Volt a Failure - GM to Layoff 1,300

Discussion in 'Sports and News' started by Evil Bastard (aka Chris_L), Mar 2, 2012.

  1. Scout

    Scout Well-Known Member

  2. TheSportsPredictor

    TheSportsPredictor Well-Known Member

  3. Inky_Wretch

    Inky_Wretch Well-Known Member

  4. Azrael

    Azrael Well-Known Member

  5. The Big Ragu

    The Big Ragu Moderator Staff Member

    The carnival barker brought out one of the designers and told him to throw a metal ball at the front window to demonstrate the "armour glass."

    It shattered. Musk blurted out, "Oh my fucking god."

    After several seconds of uncomfortable, they had the bright idea to try it again. ... and shattered the back window.

    All in all, the unveiling was a smashing success.

  6. Azrael

    Azrael Well-Known Member

    Last edited: Nov 22, 2019
  7. Inky_Wretch

    Inky_Wretch Well-Known Member

    That ain't a truck.
  8. TigerVols

    TigerVols Well-Known Member

    Just what I always wanted! A stainless steel battery powered Pontiac Aztek!
    Batman, maumann and Inky_Wretch like this.
  9. Azrael

    Azrael Well-Known Member

    We were just posting about wedge-shaped cars on the Muscle Car thread.

    Here's a Citroen Karin concept car . . . from 1980.

    TigerVols, maumann and bigpern23 like this.
  10. Inky_Wretch

    Inky_Wretch Well-Known Member

    Man, that bulletin-proof glass failing at the reveal is a perfect summation of Tesla as a company.
    Neutral Corner likes this.
  11. Inky_Wretch

    Inky_Wretch Well-Known Member

  12. The Big Ragu

    The Big Ragu Moderator Staff Member

    It was probably a stock looking for a reason to go down. In the past, that stock w0uld go up even as the company was borrowing billions of dollars and burning through cash or not delievering on promises, or he was diluting the equity float with secondary offerings. Fundamentals didn't matter then, they don't matter now. After the last quarter, with the BS manufactured "profit" they reported, the stock went on a tear -- another short-squeeze rally. The stock was way overbought using a number of technical indicators that traders were looking at, so the shattered windows were just the excuse that was necessary for what was likely going to happen anyhow. If not that day, at some point very near there when another catalyst created the excuse. In 3 weeks from now, he can just as easily promise a new gigafactory on Mars that is going to manufacture mythical eternal-life kryptonite batteries, and if the stock is oversold on a near-term basis at that point, it may just as easily be up 8 percent on the day. And this nonsense will keep going on as long as the Fed is pumping ridiculous levels of liquidity into the casino (currently via it's "not QE" repo operations over the last 2 months that spurred the latest frenzy). When the madness ends finally, everything is going find its real value, and Tesla's market valuation will come down to reflect the actual company, not the value of a monetary bubble.

    As for that story about his "net worth" I call a bit of BS. Last year, from Tesla's 10K, it showed that Musk had more than half a billion dollars in personal loans from Goldman Sachs, Morgan Stanley and B of A. The reason that had to be reported is that he put up somewhere between $3 and $4 billion of his Tesla stock as collateral for the loans. I suspect that Musk is actually pretty cash poor, but very wealthy on paper on the back of some ridiculously valued equity holdings. Nobody who is legitimately worth $22 billion +, needs to borrow more than half a billion to fund their personal lifestyle. I give him credit for locking up so much of his wealth in the company, although it is kind of a necessity for him to keep the facade up and keep the fraud (I'm not using the word in the legal sense, though) going. But unless he actually takes that cash out the company, it's just paper wealth. If (and I obviously think it is a when) the monetary bubble that has given the company a ridiculous valuation pops, his supposed net worth is going to prove to be way less than Forbes has it figured at the moment.
    TigerVols likes this.
Draft saved Draft deleted

Share This Page