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More than the low life leaving TSLA.

Tesla execs Drew Baglino and Rohan Patel depart as company announces steep layoffs​



 
From "1440" this am:

Tesla's Internal Shake-Up

Tesla is planning to lay off over 14,000 employees—more than 10% of its global workforce—in its first large-scale layoffs in over a year, according to an internal memo this week. The company's electric vehicle sales have begun to stagnate amid a decline in demand and increased competition from Chinese carmakers. Tesla's shares fell over 5% on the news.

CEO Elon Musk said the layoffs are part of cost-cutting measures as the company prepares for its next phase of growth. Also yesterday, two top executives at Tesla announced their departure: engineering executive Drew Baglino and policy and outreach executive Rohan Patel.

The shake-up comes after Tesla earlier this month posted its first year-over-year decline in quarterly sales since 2020. The report came after China’s BYD briefly overtook Tesla as the world's top seller of battery electric vehicles last year. In January, Musk said Tesla would soon release a cheaper, $25K model rumored to compete with BYD. That plan has now reportedly been tabled, with Musk prioritizing the debut of a robotaxi fleet in August.
 
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Lightning8 said:
From "1440" this am:

Tesla's Internal Shake-Up

Tesla is planning to lay off over 14,000 employees—more than 10% of its global workforce—in its first large-scale layoffs in over a year, according to an internal memo this week. The company's electric vehicle sales have begun to stagnate amid a decline in demand and increased competition from Chinese carmakers. Tesla's shares fell over 5% on the news.

CEO Elon Musk said the layoffs are part of cost-cutting measures as the company prepares for its next phase of growth. Also yesterday, two top executives at Tesla announced their departure: engineering executive Drew Baglino and policy and outreach executive Rohan Patel.

The shake-up comes after Tesla earlier this month posted its first year-over-year decline in quarterly sales since 2020. The report came after China’s BYD briefly overtook Tesla as the world's top seller of battery electric vehicles last year. In January, Musk said Tesla would soon release a cheaper, $25K model rumored to compete with BYD. That plan has now reportedly been tabled, with Musk prioritizing the debut of a robotaxi fleet in August.
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TSLA just needs a few $Billion$ of US Government money. Build Back Better.
 
Hobo Hilton said:
TSLA just needs a few $Billion$ of US Government money. Build Back Better.
Click to expand...
I do not think a Democrat controlled government is giving anything to Tesla - I suspect this is part of Tesla's problems - they went from the Golden Child of the elites to an outcast.

Honestly, all manufacturing companies carry too much overhead - would be interesting to see a breakout of the Tesla layoffs. If the layoffs are in the support/admin - then probably a good thing.
 
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Lightning8 said:
I do not think a Democrat controlled government is giving anything to Tesla - I suspect this is part of Tesla's problems - they went from the Golden Child of the elites to an outcast.

Honestly, all manufacturing companies carry too much overhead - would be interesting to see a breakout of the Tesla layoffs. If the layoffs are in the support/admin - then probably a good thing.
Click to expand...
Is Tesla still profitable due to carbon credit markets? Do they actually make money on the card they sell? It has always seemed to to be a Ponzi scheme to me. Elon may be being positioned to become the outsider that “saves” us all. Hint, those plans always end up being assfucking games.
 
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The IMF wants more American dollars.

The outlook for the global economy is for continued solid growth and declining inflation, bolstered by stronger-than-expected growth in the United States, the International Monetary Fund said Tuesday. In its latest update of its World Economic Outlook, the IMF projected U.S. growth of 2.7% annual rate this year. That’s 0.6 percentage points higher than the forecast in January and 1.2 percentage points above the forecast last October.
The U.S. economy will then cool slightly to a 1.9% rate in 2025, the agency said.
“The strong recent performance of the United States reflects robust productivity and employment growth, but also strong demand in an economy that remains overheated,” said IMF chief economist Pierre-Olivier Gourinchas, in a blog post accompanying the report.

 
Emerson0311 said:
Is Tesla still profitable due to carbon credit markets? Do they actually make money on the card they sell? It has always seemed to to be a Ponzi scheme to me. Elon may be being positioned to become the outsider that “saves” us all. Hint, those plans always end up being assfucking games.
Click to expand...

If only Tesla’s financials were public.
 
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Play of the Day. The market makers had this figured out last evening over dinner.
Double dipping.... Long on the way up and short on the way down.
Heading out for a 2 pm tee time at the golf course while the peon's jockey for a couple of hours of OT.

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(Reuters) - Tesla shares fell to their lowest in more than a year on Thursday after Deutsche Bank raised concerns over the electric automaker's increasing focus on its autonomous vehicle products when profit is under pressure.

The Elon Musk-led company's shares fell 2.7% to $151.26 after the brokerage downgraded the stock to "Hold" and cut its price target to $123 from $189.

The brokerage's commentary follows Reuters report earlier this month that Tesla decided to cancel its long-promised inexpensive car that investors hoped would drive growth, while continuing to develop Robotaxis on the same vehicle platform.
 
Lightning8 said:
(Reuters) - Tesla shares fell to their lowest in more than a year on Thursday after Deutsche Bank raised concerns over the electric automaker's increasing focus on its autonomous vehicle products when profit is under pressure.

The Elon Musk-led company's shares fell 2.7% to $151.26 after the brokerage downgraded the stock to "Hold" and cut its price target to $123 from $189.

The brokerage's commentary follows Reuters report earlier this month that Tesla decided to cancel its long-promised inexpensive car that investors hoped would drive growth, while continuing to develop Robotaxis on the same vehicle platform.
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Long ago a very reputable fund manager made this statement... "The industry of building cars is for third world countries". Why are we even building cars in America ? Look at what happened to Detroit. The industry simply relocated. Trying the same thing over and over again and hoping for a different result. This go round was financed by the US Government. Same thing happening to the chip industry. Over and over.

autos.yahoo.com

Elon Musk Is Begging Investors To Reinstate $56 Billion Bonus

A judge in Delaware, where Tesla is incorporated, determined in January that part-time CEO Elon Musk’s $56 billion compensation package was against the best interests of the company’s many investors, nullifying the “performance-based” award. The package, which was approved by the crony-packed...
autos.yahoo.com autos.yahoo.com
 
A "Pull Back"... or... "A Top" ? The MSM is obviously not reporting on things that are of a concern to the working middle class.
Every day brings a new "diversion". History repeating with "Bread and Circus".

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Really @Hobo Hilton

You add a like to the OP first post?

I couldnt have been more wrong and totally blind to just how totally fucked up our political class is.

I totally failed to see the planned mayhem to come.

That was pre George Floyd and CV was something being reported on in the Daily Mail from Chyna.

I'm guessing that was a "sarcasm" like and I deserved it so.

I have absolutely none of that type optimism anymore. It has been thoroughly beat out of me never to return.

I don't even know what any of my 3 401Ks are doing. Moved at least 50% of my two main ones to bonds and that hasn't worked out because they propped up the big guy anyway.

Court in a week and best that could come out of that would be a prison sentence of sorts.
 
Last edited:
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pmclaine said:
Really @Hobo Hilton

You add a like to the OP first post?

I couldnt have been more wrong and totally blind to just how totally fucked up our political class is.

I totally failed to see the planned mayhem to come.

That was pre George Floyd and CV was something being reported on in the Daily Mail from Chyna.

I'm guessing that was a "sarcasm" like and I deserved it so.

I have absolutely none of that type optimism anymore. It has been thoroughly beat out of me never to return.

I don't even know what any of my 3 401Ks are doing moved at least 50% of my two main ones to bonds and that hasn't worked out because they propped up the big guy anyway. Court in a week and best that could come out of that would be a prison sentence of sorts.
Click to expand...
I did not do that as sarcasm.
It was to acknowledge you were correct. Your statement = My thoughts are that the market has needed a correction.
The markets did need a very large correction.
That did not happen. The results have been a bubble that has been inflated for 4 years.
Now look at where we are.
Sorry you took it wrong.

Hobo
 
Hobo Hilton said:
I did not do that as sarcasm.
It was to acknowledge you were correct. Your statement = My thoughts are that the market has needed a correction.
The markets did need a very large correction.
That did not happen. The results have been a bubble that has been inflated for 4 years.
Now look at where we are.
Sorry you took it wrong.

Hobo
Click to expand...
Au contraire my friend.

No offense taken.

I saw some humor in how wrong I had been.

I did not foresee the evil. I did not imagine that this evil would be done to the citizens but even more unreal was that America would take it.

The big let down has been how easily the America people go to their knees.
 
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Hobo Hilton said:
Take your time, it's got a long way to fall. The traders will be playing the "pump and dump" for a few more months.
See what the new model year brings for the competition and how the clearance sales go during the fall.
Click to expand...
I need metrics that trigger a repurchase % event. While I agree, the market does what it does and often leaves most behind :)
 
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S3th said:
I need metrics that trigger a repurchase % event. While I agree, the market does what it does and often leaves most behind :)
Click to expand...
You and I just have different perspectives.
You see TSLA as a big fish in a little pond.
I see TSLA as a minnow in the ocean.
Right now that ocean is building up "The Perfect Storm".
We are all watching the barometers. They don't read out in metrics.
 
Tesla has cut prices by nearly $2,000 across its models in China, after price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against cheaper Chinese EVs.
Elon Musk’s EV maker cut the starting price of the revamped Model 3 in China by 14,000 yuan ($1,930) to 231,900 yuan, its official website showed on Sunday.
Tesla made similar cuts to the Model Y starting price, now 249,900 yuan, the regular version of the Model S to 684,900 yuan and the Model S Plaid to 814,900 yuan. The regular Model X now costs 724,900 yuan and its plaid variant 824,900 yuan.

 
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S3th said:
I need metrics that trigger a repurchase % event. While I agree, the market does what it does and often leaves most behind :)
Click to expand...
The "metrics" will appear after the Black Swan.

NEW YORK, April 22 (Reuters) - While U.S. financial markets debate the timing of interest rate cuts, one tail-risk hedge fund is warning that investors should make the most of recent economic optimism while it lasts, as a shift to lower rates will signal a dramatic market crash.
"This is a case of be careful what you wish for," said Mark Spitznagel, chief investment officer and founder of Universa, a $16 billion hedge fund specializing in risk mitigation against "black swan" events - unpredictable and high-impact drivers of market volatility.

 
Hobo Hilton said:
The "metrics" will appear after the Black Swan.

NEW YORK, April 22 (Reuters) - While U.S. financial markets debate the timing of interest rate cuts, one tail-risk hedge fund is warning that investors should make the most of recent economic optimism while it lasts, as a shift to lower rates will signal a dramatic market crash.
"This is a case of be careful what you wish for," said Mark Spitznagel, chief investment officer and founder of Universa, a $16 billion hedge fund specializing in risk mitigation against "black swan" events - unpredictable and high-impact drivers of market volatility.

Click to expand...
So lower interest rates mean the powers that be have given up trying and walked away?
 
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Emerson0311 said:
So lower interest rates mean the powers that be have given up trying and walked away?
Click to expand...
Not at all. Their investment bankers are "running the numbers" for them. Congressmen, their families and cronies will do well as the market reacts to lower rates. They will be well informed of any rate changes long before the public is. They are taking a page out of Pelosi's Play Book.
None will end up like Martha Stewart.
 
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Up front, I am not a Jack Dorsey fan. Long ago, Jack is the guy who stole your info so a purchase receipt would magically show up in your email IN BOX. Jack has never backed anything with anything. Another Samuel Benjamin Bankman-Fried,

Jack Dorsey’s payments company, Block, is building its own bitcoin mining system​


Jack Dorsey says that his payments company, Block (formerly Square), is expanding its bitcoin
mining ambitions from designing chips to developing a full bitcoin mining system.
In a post on Tuesday, the global tech firm announced that it had finished the development of its own standalone three-nanometer bitcoin mining chip and was now in the process of working through the design with a “leading global semiconductor foundry.”
Block also unveiled plans to broaden out the scope of its mining project to include system design.

 
The car’s most extraordinary feature, though, is its $9,698 price tag. That undercuts the average price of an American EV by more than $50,000, and is only a little more than a high-end Vespa scooter. Such aggressive pricing by BYD, which surpassed Tesla Inc. in late 2023 to become the world’s largest producer of electric vehicles , is indicative of how Chinese auto manufacturers will likely force US makers to pivot away from mainly producing expensive second cars for the affluent and toward more reasonably priced EVs for Everyman.
www.bloomberg.com

Cheap Chinese EVs Are Putting Pressure on Detroit

Plus: The US dollar’s role at the center of global finance is challenged.
www.bloomberg.com www.bloomberg.com
 

Enphase’s stock slumps as outlook miss reflects solar’s ongoing struggles​

Alternative-energy company calls out ‘a further softening in U.S. demand’ that impacted first-quarter results​

 
S3th said:
It functions today, overwhelmingly well on highways. You should go for a test drive.
Click to expand...
Appears that Elon is not taking his competition seriously.


April 24 (Reuters) - A made-in-China electric vehicle will hit U.S. dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about $8,000 less.
The EX30 from Volvo Cars (VOLCARb.ST)
, opens new tab, the Swedish luxury brand owned by China's Geely (GEELY.UL) , foreshadows the fierce competitive threat U.S. automakers could face from Chinese EV manufacturers that have surged far ahead of global rivals, especially on affordability.

 
Hobo Hilton said:
Appears that Elon is not taking his competition seriously.


April 24 (Reuters) - A made-in-China electric vehicle will hit U.S. dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about $8,000 less.
The EX30 from Volvo Cars (VOLCARb.ST)
, opens new tab, the Swedish luxury brand owned by China's Geely (GEELY.UL) , foreshadows the fierce competitive threat U.S. automakers could face from Chinese EV manufacturers that have surged far ahead of global rivals, especially on affordability.

Click to expand...

There it is. The Model Y killer.
 
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