Elon Musk's Tesla-SolarCity hearing halted after someone pukes in Delaware court | |
beeches
(OP) User ID: 78973486 United States 07/13/2021 02:45 PM Report Abusive Post Report Copyright Violation | you may have seen Solar City salesmen at Home Depot, I sure have - did not know the company was tied to Mush. from the link: Musk is accused in a class-action shareholder lawsuit of pressuring the electric-vehicle maker's board to approve Tesla's $2.6 billion acquisition of SolarCity in 2016. Plaintiffs argue the transaction was rife with conflicts of interest and failed to produce the profits Musk had promised. Founded in 2006 by Musk's cousins, Lyndon and Peter Rive, Solar City became the largest residential solar installer. According to court records, Solar City posted revenue of $730 million in 2016 but with an $820 million net loss that same year. At the time of the all-stock purchase, Solar City had racked up more than $1.5 billion of debt and Musk was the company's largest stakeholder and its chairman. He also held an approximately 22% stake in Tesla. Liberalism is totalitarianism with a human face – Thomas Sowell |
beeches
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Trained Noticer
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beeches
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Trained Noticer
Forum Moderator User ID: 80558422 United States 07/13/2021 02:53 PM Report Abusive Post Report Copyright Violation | ..................ELON........... For those who believe, no proof is necessary. For those who don't believe, no proof is possible. (Stuart Chase) It's easier to fool people than to convince them that they have been fooled. (Mark Twain) |
Doctor Congo
User ID: 80270836 United States 07/13/2021 02:53 PM Report Abusive Post Report Copyright Violation | Sounds like a scam to me. You get free solar panels but you have to buy the electricity generated by them for 20 years! Just doesn't sound right. [link to en.wikipedia.org (secure)] SolarCity heavily focused on door-to-door sales of leased systems, where customers would pay no upfront costs, but agree to purchase the power generated by those panels from the company for 20 years. The business model became the most popular in the US and made the company the largest residential solar installer, but gave SolarCity over $1.5 billion in debt by the time of the acquisition in 2016 and was criticized by consumer advocates and government regulators. Prior to acquisition by Tesla, the two companies had a close relationship. SolarCity offered free charging to Tesla Roadster owners at its charging stations, SolarCity became one of the first installers of Tesla's Powerwall home energy storage batteries, and with Elon Musk serving as the chairman of SolarCity. |
Anonymous Coward User ID: 11463556 United States 07/13/2021 02:53 PM Report Abusive Post Report Copyright Violation | |
beeches
(OP) User ID: 78973486 United States 07/13/2021 02:54 PM Report Abusive Post Report Copyright Violation | (heated, using solar energy?) Liberalism is totalitarianism with a human face – Thomas Sowell |
beeches
(OP) User ID: 78973486 United States 07/13/2021 02:55 PM Report Abusive Post Report Copyright Violation | |
beeches
(OP) User ID: 78973486 United States 07/13/2021 02:58 PM Report Abusive Post Report Copyright Violation | Musk's court fight comes after a judge approved a $60 million settlement in August resolving claims made against all the directors on Tesla's board except Musk without any admission of fault. If Musk loses the Solar City case, he could be required to pay damages equal to the value of the Solar City transaction. A ruling on the case is expected to take months. Liberalism is totalitarianism with a human face – Thomas Sowell |
Anonymous Coward User ID: 79385991 Philippines 07/13/2021 02:58 PM Report Abusive Post Report Copyright Violation | |
beeches
(OP) User ID: 78973486 United States 07/13/2021 02:59 PM Report Abusive Post Report Copyright Violation | |
beeches
(OP) User ID: 78973486 United States 07/13/2021 03:07 PM Report Abusive Post Report Copyright Violation | yesterday was Day One. Quoting: beeches in court, Mush said he hates being the CEO of Tesla, that he thinks he is funny, and that the opposing lawyer is a bad bad man. he should just call the opposing lawyer "pedo guy"...that worked out well for him last time what a true genius he is right! oh, sure! the entire board settled the issue - Elon wants his day in court! Musk plans to tell the court that his SolarCity acquisition was justifiable. Originally, the entire Tesla board was called to the Delaware court, but everyone except for Musk settled in a $60 million deal. Musk wanted to defend his actions against claims that he was a stockholder with a conflict of interest from the start. The case is set to start on July 12 and Musk will provide a testimony meant to justify his actions. [link to marketrealist.com (secure)] Liberalism is totalitarianism with a human face – Thomas Sowell |
beeches
(OP) User ID: 78973486 United States 07/13/2021 03:34 PM Report Abusive Post Report Copyright Violation | Sounds like a scam to me. You get free solar panels but you have to buy the electricity generated by them for 20 years! Just doesn't sound right. Quoting: Doctor Congo [link to en.wikipedia.org (secure)] SolarCity heavily focused on door-to-door sales of leased systems, where customers would pay no upfront costs, but agree to purchase the power generated by those panels from the company for 20 years. The business model became the most popular in the US and made the company the largest residential solar installer, but gave SolarCity over $1.5 billion in debt by the time of the acquisition in 2016 and was criticized by consumer advocates and government regulators. Prior to acquisition by Tesla, the two companies had a close relationship. SolarCity offered free charging to Tesla Roadster owners at its charging stations, SolarCity became one of the first installers of Tesla's Powerwall home energy storage batteries, and with Elon Musk serving as the chairman of SolarCity. when something smells off, it is off. Liberalism is totalitarianism with a human face – Thomas Sowell |
Anonymous Coward User ID: 72944765 United States 07/13/2021 03:41 PM Report Abusive Post Report Copyright Violation | |
beeches
(OP) User ID: 78973486 United States 07/13/2021 06:09 PM Report Abusive Post Report Copyright Violation | |
beeches
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Anonymous Coward User ID: 78251708 United States 07/13/2021 09:22 PM Report Abusive Post Report Copyright Violation | |
beeches
(OP) User ID: 78973486 United States 07/13/2021 09:23 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80224217 Panama 07/13/2021 09:24 PM Report Abusive Post Report Copyright Violation | |
beeches
(OP) User ID: 78973486 United States 07/13/2021 09:24 PM Report Abusive Post Report Copyright Violation | |
beeches
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beeches
(OP) User ID: 78973486 United States 07/16/2021 06:35 AM Report Abusive Post Report Copyright Violation | looks like his appearance in court is wrapping up. still trying to find out if this is a bench or jury trial. probably the first. [link to www.bloomberg.com (secure)] The question of a successor for Mush has been raised, since he testified he "hates" being the head of Tesla. In 2018, when the company was struggling to ramp up production of the Model 3 sedan, I suspected that Doug Field, senior vice president of engineering, and Jon McNeil, president of sales, were in a bit of a bake-off to become COO. I was unable to confirm this before both of them ended up leaving the company that year. Field returned to Apple, where he is VP of special projects. McNeil became the COO of Lyft and then founded DVx Ventures. Musk has been the CEO of Tesla since 2008, one of the longest existing runs among major automakers. But he clearly doesn’t want to do this forever. The problem is that Musk is both the public face of Tesla and its communications lead — his persona is intimately intertwined with the brand. Liberalism is totalitarianism with a human face – Thomas Sowell |
Trained Noticer
Forum Moderator User ID: 80558422 United States 07/16/2021 06:42 AM Report Abusive Post Report Copyright Violation | The business plan for Solar City is insane. They install solar panels and equipment for free, then you pay them for the power generated for 20 years! Who would even do that? Imagine the up front costs for the company... Imagine the long term costs for the homeowner... Imagine trying to sell your house burdened with that contract... Imagine the equipment degrading in just a few years... Imagine the battery replacements... Imagine the scam... Imagine the stupidity... The whole thing is as fishy as government subsidized electric cars... For those who believe, no proof is necessary. For those who don't believe, no proof is possible. (Stuart Chase) It's easier to fool people than to convince them that they have been fooled. (Mark Twain) |
beeches
(OP) User ID: 78973486 United States 07/16/2021 06:46 AM Report Abusive Post Report Copyright Violation | The business plan for Solar City is insane. Quoting: Trained Noticer They install solar panels and equipment for free, then you pay them for the power generated for 20 years! Who would even do that? Imagine the up front costs for the company... Imagine the long term costs for the homeowner... Imagine trying to sell your house burdened with that contract... Imagine the equipment degrading in just a few years... Imagine the battery replacements... Imagine the scam... Imagine the stupidity... The whole thing is as fishy as government subsidized electric cars... They were EVERYWHERE at home improvement stores in Delaware. Our deed restrictions were changed to accomodate their products on the front of house roofs, not just the back. Fools fly in where angels fear to tread.... Fiskar is poised to return here to make his electric "vehicles". they were great at harvesting Biden money, before he absconded to Finland without buidling a single car in the Delaware plant. Liberalism is totalitarianism with a human face – Thomas Sowell |
Trained Noticer
Forum Moderator User ID: 80558422 United States 07/16/2021 06:49 AM Report Abusive Post Report Copyright Violation | Looters loot. Moochers mooch. For those who believe, no proof is necessary. For those who don't believe, no proof is possible. (Stuart Chase) It's easier to fool people than to convince them that they have been fooled. (Mark Twain) |