Posted August 25, 2018 S: Washington Post Tesla has slammed the brakes on going private after having long discussions with shareholders and major investors, CEO Elon Musk confirmed in a blog post on the Tesla website today. He also cited grave concerns with the amount of time it would take to take Tesla off the public market and into private holdings, as he wanted to invest more time into Tesla's manufacturing hell. Musk had said he had strong reasons to believe that Saudi Arabia could provide the billions for the buyout into taking tesla of the public market, but alas, he bowed to his investors and shareholders requests of backing down from the ideas. Quote Elon Musk reversed course Friday, saying he would keep Tesla as a publicly traded company, bowing to apparent pressure from his own shareholders while the federal government reportedly investigated his attempt to take the car company private. In a late-night blog post, Musk, the electric car maker’s founder and chief executive, said that “most of Tesla’s existing shareholders believe we are better off as a public company.” He added the process of making Tesla a private automaker was always going to be challenging, but added it would have been “more time-consuming and distracting than initially anticipated.” In the blog he also pointed out Silver Lake, Goldman Sachs and Morgan Stanley who provided assistance and provided Musk the options ahead of taking Tesla private and he further went on to say Quote Given the feedback I’ve received, it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company. 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. There is also no proven path for most retail investors to own shares if we were private. Although the majority of shareholders I spoke to said they would remain with Tesla if we went private, the sentiment, in a nutshell, was “please don’t do this.” I knew the process of going private would be challenging, but it’s clear that it would be even more time-consuming and distracting than initially anticipated. This is a problem because we absolutely must stay focused on ramping Model 3 and becoming profitable. We will not achieve our mission of advancing sustainable energy unless we are also financially sustainable. That said, my belief that there is more than enough funding to take Tesla private was reinforced during this process. I'm fairly happy that Tesla is going to remain public, they just need to remain focused on Tesla and to keep their heads down and work on with the Model 3 production to sustain a healthy growth. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 *Brakes* btw. I think Musk means well but, like many, he's under the eye of public scrutiny constantly, so saying shit like that on Twitter was dumb. Hopefully Tesla doesn't go bankrupt and can keep innovating new car technologies. |PSU Tier List /80 Plus Efficiency| PSU stuff if you need it. My system: PCPartPicker || For Corsair support tag @Corsair Josephor @Corsair Nick || My 5MT Legacy GT Wagon || Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 This just in , share holders unhappy with having no shares. More at 11. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 39 minutes ago, emosun said: This just in , share holders unhappy with having no shares. More at 11. Shareholders were proposed to be either bought out at a significant premium or permitted to keep their shares with the newly privatized Tesla. I think many shareholders were excited at the prospect of a hefty instant risk-free return on their investment. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 I hope Musk is treated well in jail. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 SEC Openup Just remember: Random people on the internet ALWAYS know more than professionals, when someone's lying, AND can predict the future. i7 9700K (5.2Ghz @1.2V); MSI Z390 Gaming Edge AC; Corsair Vengeance RGB Pro 16GB 3200 CAS 16; H100i RGB Platinum; Samsung 970 Evo 1TB; Samsung 850 Evo 500GB; WD Black 3 TB; Phanteks 350x; Corsair RM19750w. Laptop: Dell XPS 15 4K 9750H GTX 1650 16GB Ram 256GB SSD Spoiler sex hahaha Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 2 hours ago, SC2Mitch said: I'm fairly happy that Tesla is going to remain public, I'm fairly happy that Tesla didn't get into the hands of middle eastern powers. And the other investors might have said the same to Elon that they don't like who would do the buyout... "Hell is full of good meanings, but Heaven is full of good works" Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 4 hours ago, poochyena said: I hope Musk is treated well in jail. ?? What he was proposing was not illegal.. ◒ ◒ Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 The problem with this is saying what he did, if it turns out to not happen, which now looks like the case, amounts to stock manipulation and is illegal. Even if that wasn't the intention, he could be in big trouble for this. Solve your own audio issues | First Steps with RPi 3 | Humidity & Condensation | Sleep & Hibernation | Overclocking RAM | Making Backups | Displays | 4K / 8K / 16K / etc. | Do I need 80+ Platinum? If you can read this you're using the wrong theme. You can change it at the bottom. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 Government kickbacks don't work well for a company that throws away money. Check out my guide on how to scan cover art here! Local asshole and 6th generation console enthusiast. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 The thing has two brakes on the back tires for each tire, one for emergency, other for normal braking. I don't think you want to slam them. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 25, 2018 49 minutes ago, Arika S said: ?? What he was proposing was not illegal.. no, but him making the proposal sure is illegal. He manipulated the stock market which caused an unknown amount of people to lose money. You aren't allowed to lie about things regarding your company just to try and make the shares go up in price. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 1 hour ago, poochyena said: no, but him making the proposal sure is illegal. He manipulated the stock market which caused an unknown amount of people to lose money. You aren't allowed to lie about things regarding your company just to try and make the shares go up in price. i think hes going to get a 75,000 dollar fine at worst Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 4 hours ago, poochyena said: no, but him making the proposal sure is illegal. He manipulated the stock market which caused an unknown amount of people to lose money. You aren't allowed to lie about things regarding your company just to try and make the shares go up in price. It’s not a lie if he didn’t promise anything. Now it’s possible the SEC might slap him with a fine for being unclear and possibly misleading, but no way he goes to jail. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 21 minutes ago, Monkeybiz0985 said: It’s not a lie if he didn’t promise anything. Now it’s possible the SEC might slap him with a fine for being unclear and possibly misleading, but no way he goes to jail. Its the "funding secured" part that is the biggest issue since that did seem to be a straight lie. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 14 minutes ago, poochyena said: Its the "funding secured" part that is the biggest issue since that did seem to be a straight lie. You can have the funding but the shareholders can still say no. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 Aint Tesla finally breaking even with 5K cars a week? Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 this was just stock manipulation. Those that sued were absolutely right and are going to have cash rain on them... then again it's US courts so flip a coin . Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 Can someone explains what this is about? I don't understand what's the deal with shareholders, investors and all. Musk wants to sell Tesla to Saudi Arabia or what? DAC/AMPs: Klipsch Heritage Headphone Amplifier Headphones: Klipsch Heritage HP-3 Walnut, Meze 109 Pro, Beyerdynamic Amiron Home, Amiron Wireless Copper, Tygr 300R, DT880 600ohm Manufaktur, T90, Fidelio X2HR CPU: Intel 4770, GPU: Asus RTX3080 TUF Gaming OC, Mobo: MSI Z87-G45, RAM: DDR3 16GB G.Skill, PC Case: Fractal Design R4 Black non-iglass, Monitor: BenQ GW2280 Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 13 minutes ago, CTR640 said: Can someone explains what this is about? I don't understand what's the deal with shareholders, investors and all. Musk wants to sell Tesla to Saudi Arabia or what? Musk was frustrated with short sellers and others playing havoc with Tesla's stock, and was looking for funding as it was, so he floated the idea of going private when Tesla's share value hit $420 (because weed joke). This go-private strategy would've involved some funding from a Saudi Arabia fund. The country wouldn't have owned Tesla; it would just have had a larger stake than before, because it saw this as a hedge for when oil was struggling. Musk is now backing away from that idea after both hearing displeasure from some investors and realizing that going private would involve some complicated financial gymnastics. Basically: whatever Tesla gained wouldn't be worth the effort. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 14 hours ago, poochyena said: Its the "funding secured" part that is the biggest issue since that did seem to be a straight lie. There is zero indication that he was lying. Saudi was willing to put down the money. That wasn’t the problem. The shareholders decided to stop him. For Sale: Meraki Bundle iPhone Xr 128 GB Product Red - HP Spectre x360 13" (i5 - 8 GB RAM - 256 GB SSD) - HP ZBook 15v G5 15" (i7-8850H - 16 GB RAM - 512 GB SSD - NVIDIA Quadro P600) Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 1 hour ago, dalekphalm said: There is zero indication that he was lying. Saudi was willing to put down the money. That wasn’t the problem. The shareholders decided to stop him. There is zero indication he was telling the truth. The investigation will figure that out. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 26, 2018 56 minutes ago, poochyena said: There is zero indication he was telling the truth. The investigation will figure that out. So... you just made up an issue that could “hypothetically” be true, despite there being no indication that this is the case? Well Musk might also be an Axe murderer. But I’ve seen zero evidence of this... or your implication. If you have evidence that he lied about the money, please do post a source - frankly that would be far more interesting news than what we’ve got here. For Sale: Meraki Bundle iPhone Xr 128 GB Product Red - HP Spectre x360 13" (i5 - 8 GB RAM - 256 GB SSD) - HP ZBook 15v G5 15" (i7-8850H - 16 GB RAM - 512 GB SSD - NVIDIA Quadro P600) Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 27, 2018 On 8/25/2018 at 6:42 PM, Arika S said: ?? What he was proposing was not illegal.. It was market manipulation which is. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
Posted August 27, 2018 On 8/25/2018 at 9:07 PM, spartaman64 said: i think hes going to get a 75,000 dollar fine at worst Going to be far worst then that. He is going to get sued collectively from all the people that lost out money in the 3 days that the stock was up. Link to comment Share on other sites More sharing options... Link to post Share on other sites More sharing options...
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