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Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

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Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#181

Post by leesec »

antt wrote: post #145
ericb wrote: post #134

Earlier quoted context omitted.

> Any CxO position at a publicly traded company is long hours I don't think that's true at all. The CFO/CEO at companies I've worked at are not working 120 hour weeks, and they were publicly traded. If anything, they were there about 40 hours a week.

And most CEO positions don't involve you smoking a joint on air during those 120 hours either.

This is a hilarious non-issue that pulls on antiquated notions of drug usage. This whiskey he was sipping for 2 hours in that podcast was much more harmful then that single puff of legal weed he took, but nobody cares about that.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#182

Post by i_am_nomad »

randlet wrote: post #84
dgritsko wrote: post #73

Earlier quoted context omitted.

Didn't he actually smoke weed live as part of that broadcast?

He had a single puff and did not appear to inhale (his body language made it look like he was a very inexperienced smoker). He said he'd tried it before but wasn't a big fan (a pretty common experience). edit: people are going to need to get used to the fact that weed is going to become as normalized as alcohol (which is a harder drug than weed).

Sigh. I suspect you're right about the normalization, I just absolutely hate the smell of it. I grew up on the East Coast, where cigarette smoking was commonplace, and I always found it revolting. Here in the Bay Area, I've had a few years to enjoy the relative scarcity of tobacco smoke, and now suddenly cannabis is out in the open. Seems like there's no escape from second-hand smoke.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#183

Post by whatok »

dragontamer wrote: post #168
scottkduncan wrote: post #47

Earlier quoted context omitted.

"Wall Street" is not betting on them to go bankrupt. Collectively, investors value this company that produces, at best, 7K cars a week at $45 billion. The idea that one quarter of profitability achieved through slashing capex to the bone fundamentally would fundamentally change their valuation doesn't carry much water in my view.

> "Wall Street" is not betting on them to go bankrupt. 27.88% of all shares in existence are short-sold. Its one of the biggest shorts on the market at the moment. Wall Street is CERTAINLY betting that they're going down.

There's a difference between overvalued and bankrupt.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#184

Post by leesec »

matwood wrote: post #102
leesec wrote: post #91

Earlier quoted context omitted.

Could it be it's a very intense place to work and people who get in that position decide they don't want to work the long hours when they could be making just as much money somewhere more cushy?

You're kidding right? Any CxO position at a publicly traded company is long hours with a lot of work and responsibility.

I think you're mostly correct, but more or less I was just trying to suggest that there could be other reasons why people leave companies a month in, other than just sketchy, the-company-is-on-fire type issues.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#185

Post by RobertSmith »

If you visit Tesla's management's page you can see only 3 names; Elon Musk, CFO Deepak Ahuja and CTO JB Straubel. No exec stays for a long period in Tesla. Who is going to resign next? CFO or CTO https://news.alphastreet.com/tesla-motors-cao-chief-accounti...

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#186

Post by randlet »

i_am_nomad wrote: post #182
randlet wrote: post #84

Earlier quoted context omitted.

He had a single puff and did not appear to inhale (his body language made it look like he was a very inexperienced smoker). He said he'd tried it before but wasn't a big fan (a pretty common experience). edit: people are going to need to get used to the fact that weed is going to become as normalized as alcohol (which is a harder drug than weed).

Sigh. I suspect you're right about the normalization, I just absolutely hate the smell of it. I grew up on the East Coast, where cigarette smoking was commonplace, and I always found it revolting. Here in the Bay Area, I've had a few years to enjoy the relative scarcity of tobacco smoke, and now suddenly cannabis is out in the open. Seems like there's no escape from second-hand smoke.

Smoking it in public is obnoxious I agree. Hopefully people choose to eat or vapourize it rather than burn it.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#187

Post by Retric »

scottkduncan wrote: post #163
Retric wrote: post #69

Earlier quoted context omitted.

Tesla is more than just a car manufacture. I doubt self driving + solar + battery + charging network etc is worth the kind premium they have over just being a car company. But, analysis based strictly on car sales a mistake, especially as established car companies outsource so much parts production.

Agree with Jacques M on solar, and would also add that much of the battery tech is Panasonic's and self-driving is a long ways away from being road-ready.

In terms of cash flow I agree.

But, if you had a company that just did self driving and had as many cars on the road as Tesla does people would value it. Likewise for a giant battery factory, or a company putting out those solar shingles even with just a handful of installs.

Now suppose they sell those lines of business off to some other company to free up some capital. It's a path through the cash crunch that may catch people off guard.

PS: I am not saying buy the stock, but I don't think it's dropping enough to become a 45 billion dollar company any time soon.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#188

Post by enraged_camel »

meowface wrote: post #33
dasil003 wrote: post #21

Earlier quoted context omitted.

I don't care how much he works, but he's gotta do something about his thin skin and incompetence with the media.

He just needs to stop doing PR.

On the contrary, the overwhelming majority of his media appearances have been widely popular. But something seems to have snapped in him recently, perhaps culminating with calling that cave rescuer a pedophile. The dude has serious problems that are probably exacerbated by stress and lack of sleep. He needs to take a break before something bad happens.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#189

Post by dragonwriter »

emptyfile wrote: post #37
toomuchtodo wrote: post #27

Earlier quoted context omitted.

> After that he had a range of little annoying problems, many of which were likely software bugs, but then he (actually his GF) experienced something in autopilot mode known on the Tesla forums as "shadow braking" -- the car braking hard on the highway because it seems to see the shadow of an overpass and think it's a wall. This is extremely dangerous. It was on the I-405 (SoCal) going 70-80mph, and such a thing coul…

Holy shit!!!?! Potential life threatening maneuvers on the road are a feature of the self-learning Autopilot system???? Because without it the car will just ram itself into a wall??? >With that said, if that causes concern for the driver, the vehicle isn't for them. What if it causes concern for the driver behind them, what then? My family will get a settlement after a Tesla kills me? How the fuck are these cars lega…

> How the fuck are these cars legal anywhere?

Because product defects don't (in general) make the car illegal, they just incur strict liability for the manufacturer (and the chain of commerce, but in Tesla’s case that's moot except as to defects that originate upstream of them, since they sell direct to consumer) when they cause damages.

Re: Tesla Accounting Chief, HR Head Resign on the Same Day; Stock Plunges

#190

Post by dragontamer »

whatok wrote: post #183
dragontamer wrote: post #168

Earlier quoted context omitted.

> "Wall Street" is not betting on them to go bankrupt. 27.88% of all shares in existence are short-sold. Its one of the biggest shorts on the market at the moment. Wall Street is CERTAINLY betting that they're going down.

There's a difference between overvalued and bankrupt.

That's a solid point, and I guess the stock market is a bad figure to talk about bankruptcy.

Instead, we can look at the Bond market for that. Moody's rates Tesla 2025 bonds at Caa1, and today the interest rate on Tesla has risen above 8.8%

The bond market certainly is pricing in the risk of default and/or bankruptcy at this point. 9%ish bonds are really bad on a 7-year bond, especially in today's market that's got relatively low-interest rate.

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