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Tesla erupts in chaos after senior
execs leave, Musk tokes up

Bloomberg, by Dana Hull

Original Article

Posted By:kono, 9/7/2018 1:39:07 PM

The turmoil at Tesla reached a fever pitch Friday, as news emerged that two senior executives will leave Elon Musk´s electric-car maker a matter of hours after he smoked marijuana during an hours-long interview with a comedian. Chief Accounting Officer Dave Morton gave notice Tuesday that he was resigning less than a month into the job, according to a filing. Tesla´s stock plunged, then extended declines after Gabrielle Toledano, the head of human resources who´s been on a leave of absence, told Bloomberg News that she won´t rejoin the company. Morton, a former CFO for computer-drive maker Seagate Technology

Comments:
The stock also took a big hit after his latest stunt. In my non-expert view getting the share price to crater could provide an opportunity to snap up enough shares at a deep discount and go back to majority stockholder.

Playing chicken with the stock like this seems too risky to me. But he´s earned a reputation for taking almost-suicidal risks... When do we start calling him Evel Musk?

      


Post Reply  

Reply 1 - Posted by: Sore Eye Assets, 9/7/2018 1:48:42 PM     (No. 11750615)

This would explain why the Tesla plant is in Fremont, California as opposed to say a place like Muskogee, Oklahoma, USA!

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Reply 2 - Posted by: Rumblehog, 9/7/2018 1:55:12 PM     (No. 11750628)

This business of his has always been a fraud funded with Federal "Eco-Dollars" taken out of our taxes.

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Reply 3 - Posted by: coldoc, 9/7/2018 1:58:16 PM     (No. 11750634)

If you live on federal dollars, you go by federal rules. Sorry stoners, this is not a positive for the company.

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Reply 4 - Posted by: stablemoney, 9/7/2018 2:20:49 PM     (No. 11750667)

Accounting and Human Resources bailing. That is a very bad sign.

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Reply 5 - Posted by: zephyrgirl, 9/7/2018 2:52:10 PM     (No. 11750706)

Something is seriously wrong when a company that sells a hundred thousand or so cars a year and loses money on each one, is valued as highly as companies (GM, Ford) that sell millions of cars a year and operate profitably.

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Reply 6 - Posted by: 0658, 9/7/2018 2:52:20 PM     (No. 11750708)

As head of SpaceX I suspect he has a national security clearance. Use of drugs may be/is a disqualifying factor, especially if he already has a clearancwe. Who reviews his clearance?

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Reply 7 - Posted by: Lucky5, 9/7/2018 3:15:15 PM     (No. 11750737)

He never should have gotten one dime of federal funding. Thanks 0bama.

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R-TA-Wide_2
  


 
Reply 8 - Posted by: janjan, 9/7/2018 3:25:15 PM     (No. 11750755)

Musk is mentally unstable. This company is not going to survive and a lot of suppliers that they owe a lot of money to are going to get screwed.

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Reply 9 - Posted by: caljeepgirl, 9/7/2018 3:37:55 PM     (No. 11750768)

Two points:
First, if you watch the video, you´ll see that Rogan simply offers Musk a single drag on his combo tobacco-weed cigarillo; Musk graciously obliges but is not particularly impressed, then returns Rogan´s smoke to him. Smoke over.
Second, Musk only uses what profit he can glean from one of his businesses/projects to support another. He´s not in business to make money for its own sake; he´s simply trying to make enough cash to plow back into his most compelling interests, aka SpaceX and Hyperloop.



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Reply 10 - Posted by: zoidberg, 9/7/2018 5:19:58 PM     (No. 11750871)

Why should anyone care if Musk has a hit of weed?

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Reply 11 - Posted by: dvc, 9/7/2018 5:49:26 PM     (No. 11750906)

The man is having a meltdown, and the dope makes him even more of a dope.

Not much different than Delorean. When their dreams fall apart, they fall apart.

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Reply 12 - Posted by: dvc, 9/7/2018 6:52:01 PM     (No. 11750998)

#5, yes you are totally correct. But the root problem is that the cost of the batteries to power these cars to normal performance levels, even with their sadly limited range, are EXTREMELY EXPENSIVE and if they fully recovered their costs - nobody would buy them, even fewer than buy them now.

Electric cars are either affordable dressed up golf carts which are slow and have very short range or really expensive, really fancy, high performance dressed up golf carts with higher performance, and pretty short range.

Electric cars, now and forever, "the car of the future".

Root cause is that the energy storage density and cost factors for chemical batteries are about 10 times worse than for a tank of gasoline or diesel fuel.
And this is immutable, a limit on the chemical reaction process. There are 103 elements in the periodic table with about 10 which are inert and not useful in chemical batteries. There has already been an exhaustive combination of all possible chemicals to make batteries. There are NO OTHER POSSIBILITIES. The batteries can be improve only incrementally when they need to be improved exponentially to compete. Doomed is not too strong a word.

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.LockDme.
Lock-17


 
Reply 13 - Posted by: dvc, 9/8/2018 3:12:50 AM     (No. 11751229)

#13, you are basically correct. Burning the fuel in a power plant is around 35% efficient at producing electricity.
Putting gas in a car and burning it is about 30% efficient in driving the car. A diesel engine with a turbo is about 35% efficient.

So, as you say, if the efficiency of the battery charging process was 100% (it is not) and the efficiency of the battery discharge process was 100% (it is not, both create waste heat in the battery), and the efficiency of the electric motor was 100% (it is not) you still are AT BEST, about break even efficiency-wise against a gas or diesel vehicle, and you have shorter range and smaller payload volume, people or items.

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The turmoil at Tesla reached a fever pitch Friday, as news emerged that two senior executives will leave Elon Musk´s electric-car maker a matter of hours after he smoked marijuana during an hours-long interview with a comedian. Chief Accounting Officer Dave Morton gave notice Tuesday that he was resigning less than a month into the job, according to a filing. Tesla´s stock plunged, then extended declines after Gabrielle Toledano, the head of human resources who´s been on a leave of absence, told Bloomberg News that she won´t rejoin the company. Morton, a former CFO for computer-drive maker Seagate Technology

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