AyG
Crazy Mango Extraordinaire
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Tesla
Jun 21, 2022 19:19:08 GMT 7
Post by AyG on Jun 21, 2022 19:19:08 GMT 7
"as high as 12% of CEOs exhibit psychopathic traits ... many times more than the 1% rate found in the general population and more in line with the 15% rate found in prisons." www.forbes.com/sites/jackmccullough/2019/12/09/the-psychopathic-ceo/?sh=56fd3fbd791eAs for "only fourteen US companies currently have Ceo's, the remainder remain rudderless", I just wonder what CEOs do that makes them remotely important. They receive vast paychecks - great multiples of the pay of the people who actually produce the goods. However, do they really add value to the company? The SEC tried to get Musk barred as CEO of Tesla, but failed. However, if they'd succeeded, would Tesla and its shareholders actually be any worse off? Doubt it. I suspect the reality is that being a CEO is being a member of a small club of voraciously greedy insiders who work to boost each other's remuneration.
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chiangmai
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Tesla
Jun 22, 2022 6:06:51 GMT 7
Post by chiangmai on Jun 22, 2022 6:06:51 GMT 7
A company without a leader, there's a novel concept.
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AyG
Crazy Mango Extraordinaire
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Tesla
Jun 22, 2022 7:06:52 GMT 7
Post by AyG on Jun 22, 2022 7:06:52 GMT 7
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chiangmai
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Tesla
Jun 22, 2022 9:54:02 GMT 7
via mobile
rubl likes this
Post by chiangmai on Jun 22, 2022 9:54:02 GMT 7
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rubl
Crazy Mango Extraordinaire
The wondering type
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Tesla
Jun 22, 2022 10:29:55 GMT 7
Post by rubl on Jun 22, 2022 10:29:55 GMT 7
Next we'll get into Lynching Mobs
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rubl
Crazy Mango Extraordinaire
The wondering type
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Tesla
Jun 23, 2022 13:52:06 GMT 7
Post by rubl on Jun 23, 2022 13:52:06 GMT 7
"Musk says Tesla's new car factories 'losing billions of dollars' Tesla Inc's new car factories in Texas and Berlin are "losing billions of dollars" as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said in an interview published on Wednesday. "Both Berlin and Austin factories are gigantic money furnaces right now. Okay? It's really like a giant roaring sound, which is the sound of money on fire," Musk said in an interview with Tesla Owners of Silicon Valley, an official Tesla-recognized club, in Austin, Texas, on May 31." sg.yahoo.com/finance/news/musk-says-teslas-car-factories-185317108.html
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AyG
Crazy Mango Extraordinaire
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Tesla
Jun 29, 2022 18:18:32 GMT 7
Post by AyG on Jun 29, 2022 18:18:32 GMT 7
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AyG
Crazy Mango Extraordinaire
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Tesla
Jul 21, 2022 6:55:51 GMT 7
Post by AyG on Jul 21, 2022 6:55:51 GMT 7
Bitcoin lossesTesla first bought $1.5 billion worth of bitcoin in January 2021 when the cryptocurrency was selling for $32,000 to $33,000. Taking the cheaper of those figures, Tesla bought about 46,875 bitcoin. The company subsequently sold 10%, leaving it with 42,187 bitcoin. Now it's sold 75% of its holding, i.e. 31,640 bitcoin. Over the last month the price of bitcoin has varied between $19,224 and $23,395. Let's take the mid price of $21,309.5. Each coin sold made a loss of ($32,000 - $21,309.5) = $10,690.5. Multiply that by the number of coins sold, and Tesla lost in the region of $338 million on its bitcoin "investment". That Elon Musk really is a smart guy. Sources: www.theguardian.com/technology/2022/jul/20/tesla-second-quarter-earnings-elon-muskwww.coindesk.com/business/2022/07/20/tesla-could-face-a-460m-impairment-charge-on-its-bitcoin-holdings-in-q2/
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chiangmai
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Tesla
Jul 21, 2022 7:37:41 GMT 7
Post by chiangmai on Jul 21, 2022 7:37:41 GMT 7
The usual selective biased reporting and opinion we've come to expect from AyG! "Due to uncertainty about when the lockdown would lift in Shanghai, Musk said Tesla unloaded 75% of its bitcoin holdings to maximize its cash position. “This should not be taken as some verdict of bitcoin,” Musk said in a Wednesday earnings call. “We haven’t sold any of our dogecoin.” "However, Musk said the company is not heavily focused on cryptocurrency. It “is not something we think about a lot”, Musk said on the call. “It’s a side show to the side show … The fundamental good of Tesla and the reason we’re doing this is to have the day of sustainable energy come sooner. That’s our goal. We’re neither here nor there on cryptocurrency.” www.theguardian.com/technology/2022/jul/20/tesla-second-quarter-earnings-elon-musk
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rubl
Crazy Mango Extraordinaire
The wondering type
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Tesla
Jul 21, 2022 7:50:37 GMT 7
Post by rubl on Jul 21, 2022 7:50:37 GMT 7
Well, neither here or there but with 338 million less. Public company?
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chiangmai
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Tesla
Jul 21, 2022 8:20:13 GMT 7
Post by chiangmai on Jul 21, 2022 8:20:13 GMT 7
Companies sell assets at a loss all the time, if circumstances and the needs of the business dictate. There's nothing to see here, move along.
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AyG
Crazy Mango Extraordinaire
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Tesla
Jul 21, 2022 8:25:49 GMT 7
Post by AyG on Jul 21, 2022 8:25:49 GMT 7
The usual selective biased reporting and opinion we've come to expect from AyG! "Due to uncertainty about when the lockdown would lift in Shanghai, Musk said Tesla unloaded 75% of its bitcoin holdings to maximize its cash position. There's no need for that attitude. I was simply pointing out that Tesla has made a massive loss on its bitcoin "investment". The reason why the company sold the bitcoin is irrelevant. The simple fact is, had the company kept the cash and put it under the mattress the company would be $338 million better off. And there can be little doubt that Musk was the driving force behind the company's crypto speculation. After such a disastrous play, he should resign. He's indulging his ego, not maximising returns for shareholders and is unfit to be running a public company.
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chiangmai
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Tesla
Jul 21, 2022 8:57:42 GMT 7
Post by chiangmai on Jul 21, 2022 8:57:42 GMT 7
Don't dish it out if you can't take it!
"The reason why the company sold the bitcoin is irrelevant". Only in your dreams is that so! Company executives respond and react to changing circumstances and need and that's what Tesla has done, even though it has resulted in a loss. Decisions of this nature are not made by the CEO alone, the matter would have been discussed at Board or at least with key Directors including Finance who would have had to agree to the tactic for it to be completed. Tactical decisions to free up cash in response to the covid lockdown threat in China seems reasonable, but not if you want to find any old excuse to bash the CEO it wouldn't. Or perhaps you have in mind that there were other assets they could have sold instead to achieve a similar end!
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rubl
Crazy Mango Extraordinaire
The wondering type
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Tesla
Jul 21, 2022 9:37:57 GMT 7
Post by rubl on Jul 21, 2022 9:37:57 GMT 7
Bitcoin fluctuated from 30k up to 70k down to 20k. You'd need to see more details before you can even speak about profit or loss.
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chiangmai
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Tesla
Jul 21, 2022 9:45:39 GMT 7
Post by chiangmai on Jul 21, 2022 9:45:39 GMT 7
I don't know if it has or it hasn't, I'm simply taking the statement at face value. Make a profit, make a loss, it doesn't really matter, the point is the company sold assets because it needed to improve its cash holdings.
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