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Yesterday afternoon, Tesla CEO Elon Musk tweeted this This sent everyone into a tizzy, wondering if he was being serious or not. In fact, NASDAQ had to halt trading of Tesla for a couple of hours because of this tweet. Thankfully, Tesla posted an email that was sent by Musk to employees explaining why. The key reason comes down wanting to minimize distractions and begin focusing on the long term. "But the reason for doing this is all about creating the environment for Tesla to operate best. As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders. Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term," Musk wrote in the email. Musk also made light of the short sellers who bet against Tesla succeeding, saying the company was the most shorted stock "in the history of the stock market". By going private, it gives the company some protection. How would this changeover to private work? Musk said he would like to offer shareholders to either remain or sell their shares at $420 per share (a bit higher than the $375.16 share price at the time of this writing). He would also like Tesla's employees to remain as shareholders. "Basically, I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible," the email states. This move will need to be approved by Tesla's board of directors. In a statement released this morning, several members of the board published a statement that echoes the reasons given by Musk. It also reveals that this idea had been on Musk's mind for sometime. "Last week, Elon opened a discussion with the board about taking the company private. This included discussion as to how being private could better serve Tesla's long-term interests, and also addressed the funding for this to occur. The board has met several times over the last week and is taking the appropriate next steps to evaluate this," the statement says. One of those "appropriate next steps" is getting enough money to do the buybacks. Musk in his tweet said he has funding for it, but it is unclear who and how much is being provided. According to MarketWatch, the buyout would total $72 billion if all of the shareholders decide to sell. Source: Tesla, MarketWatch -
Yesterday afternoon, Tesla CEO Elon Musk tweeted this This sent everyone into a tizzy, wondering if he was being serious or not. In fact, NASDAQ had to halt trading of Tesla for a couple of hours because of this tweet. Thankfully, Tesla posted an email that was sent by Musk to employees explaining why. The key reason comes down wanting to minimize distractions and begin focusing on the long term. "But the reason for doing this is all about creating the environment for Tesla to operate best. As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders. Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term," Musk wrote in the email. Musk also made light of the short sellers who bet against Tesla succeeding, saying the company was the most shorted stock "in the history of the stock market". By going private, it gives the company some protection. How would this changeover to private work? Musk said he would like to offer shareholders to either remain or sell their shares at $420 per share (a bit higher than the $375.16 share price at the time of this writing). He would also like Tesla's employees to remain as shareholders. "Basically, I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible," the email states. This move will need to be approved by Tesla's board of directors. In a statement released this morning, several members of the board published a statement that echoes the reasons given by Musk. It also reveals that this idea had been on Musk's mind for sometime. "Last week, Elon opened a discussion with the board about taking the company private. This included discussion as to how being private could better serve Tesla's long-term interests, and also addressed the funding for this to occur. The board has met several times over the last week and is taking the appropriate next steps to evaluate this," the statement says. One of those "appropriate next steps" is getting enough money to do the buybacks. Musk in his tweet said he has funding for it, but it is unclear who and how much is being provided. According to MarketWatch, the buyout would total $72 billion if all of the shareholders decide to sell. Source: Tesla, MarketWatch View full article
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G. David Felt Alternative Fuels & Propulsion writer www.CheersandGears.com Can Cadillac ATS, CTS and SRX European Roadshow Win over the Public GMs Cadillac division has gone on a European Roadshow. The tour will be visiting 3 countries, 12 cities, and 22 different locations with the goal of connecting with 10,000 existing and potential customers as well as European Media. The idea is to get these people behind the wheel and check out the 21st century versions of Cadillac and to change the perception that Cadillac is a Land barge V8 powered float machine. To quote FastLane's own write up; "Above all, luxury car buyers on both sides of the pond have one thing in common: they demand superior quality in all aspects of their new potential vehicle, including design, interior, performance, refinement, safety, comfort and service." With a line up of Turbo powered 4 cylinder and V6 powered auto's, Cadillac is out to show they are competitive Driving machines. We here have had lively debates on the current round of Cadillac auto's and for the most part have found Cadillac to be very competitive and in many cases to surpass what the German brands offer in the same auto class such as BMW 3 series or MB c-class versus ATS or the BMW 5 series or MB E series versus the CTS. I believe if you have not spent any time behind a wheel in today's current Cadillacs you need to get out and test drive them. You just might discover how nice a driving machine Cadillac has become. Clearly a step in the right direction back to achieving the Standard of the World. What are your thoughts on Cadillac and Europe? What will it take to bring Cadillac to the Masses in Europe?
