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Thread: Elon’s Game of Three Card Monte

  1. #1

    Exclamation Elon’s Game of Three Card Monte

    Elon’s Game of Three Card Monte

    https://www.ericpetersautos.com/2019...ee-card-monte/

    By eric - March 20, 2019214109

    Elon is in the news again – but not for the right reason.

    The SEC is angry with him over his Tweets – which ought to anger Tesla shareholders even more (not because of the SEC’s investigating Elon but because of the effect of Elon’s Tweets on the value of their stock).

    But why isn’t anyone – including Uncle – angry with Elon over his extremely misleading – arguably fraudulent – advertising?

    Not about the real-world range of his electric cars – and the effect of very cold (and very hot) weather on how far they’ll go – though these are also things you won’t read about in Tesla product literature. Which things would get any other automaker in at least warm water with various agencies of Uncle. Who – to make the point – went after Hyundai when it was felt there was evidence some of those cars didn’t deliver quite the mileage advertised. The difference in MPGs was trivial – the inquisition wasn’t.

    And of course, there is VW.

    But that inquisition was for misleading Uncle – something he never tolerates and always punishes mercilessly.

    Back to Elon.

    And his misleading advertising.

    He touts the price of the Model 3 as much less than it actually is – $26,950 vs. $35,000 by discounting what you’ll supposedly save on gas. Which you may, but it doesn’t change what you’ll pay Elon.

    Which is still $35,000.

    No other car manufacturer does this – nor would they get away with it.

    Toyota does not advertise the price of its Prius hybrid less what they think you’ll save on gas by purchasing it. They do tell you its city/highway mileage – and so does Uncle, who also calculates the annual cost to fuel the thing, based on averages – and in comparison to other cars.

    You will find this information on the window sticker of every new car.

    But Toyota would get Hut! Hut! Hutted! if it jiggered the advertised price of the car to reflect claimed fuel savings. There is actually a law pertaining this, the so-called “Monroney” law – which requires a window sticker be affixed to every new car detailing such things as its standard equipment and warranty details, crash test ratings, mileage and emissions information . . . and the manufacturers suggested retail price, or MSRP.

    This price can’t be “discounted” by the manufacturer and would be regarded as Dirty Pool by so-called consumer advocates (who remain mute when it comes to advocating for consumers with regard to electric cars and their many downsides) if anyone else did it and would likely be considered actionable by Uncle if any other car company did it.

    As in Hut! Hut! Hut! time.

    Uncle literally frog marched VW executives – manacled them, as though they might be dangerous – into court over minor quibbling on obscure vehicle exhaust emissions certification tests. The “emissions” at issue were so trivial it took elaborate equipment to suss out the differences. The “cheating” cars passed all state-level tailpipe “sniffer” tests and no one would ever have been the wiser (because no one would ever have been harmed) had not some busybodies looking to skewer VW diesels – which represented a real threat to the Electric Car Agenda – subjected the cars to the Third Degree and discovered the “cheating.”

    Well, how about misrepresenting the cost of the Mode 3 by $8,050?


    That isn’t trivial.

    It doesn’t take elaborate machinery to suss out that difference.

    What Elon is doing is tantamount to VW removing catalytic converters from its vehicles – or quietly removing structural parts to lighten them up, in order to get them to deliver much-better-than-advertised mileage and touted those savings in its advertising.

    There would be an extreme Hut! Hut! Hutting! in that case. VW – any car company who did it – would probably be put out of business.

    But Elon sails on.

    Interestingly, the Germans – well, the German’s Uncle – has had enough of Elon’s three card monte – at least with regard to this particular game. Earlier this month, Tesla was ordered to stop including “future fuel savings into the displayed cost of a Model3” by March 20 (see here; it’s auf Deutsch, but you’ll get the jist).

    But Elon continues to tout the “$26,950” cost of the Model3 in its U.S. advertising – with an asterisk which, if you read the fine print, reveals that this assumes what the company says you’ll save in gas – as well as the federal and state kickbacks of other people’s money available to the buyer of any EV.

    It does not, however, change the sum the buyer must hand over – or finance – at time of purchase.

    This is cheesy at the very least. Fraud, arguably. Yet there is no Hut! Hut! Hutting! Not even the unofficial ululating of “consumer advocates,” who never fail to ululate when the most minor sin of omission is committed by other car manufacturers.

    It is interesting to speculate as to why this is the case.

    I’ve written before (here) and will (briefly) give once again my explication for the oddly (and uniquely) kid-glove treatment of Elon by Uncle, et al.

    It is because Tesla is the EV stalking horse. The company’s role was not to build EVs or even to sell them but to get the public used to them. To habituate people to the “reality” of EVs so that they would be more palatable; to set the precedent and normalize the EV as a car more or less like the cars people are used to, only better.

    This explains why Tesla didn’t tout economy – boring! – but rather performance and sex appeal. Electric cars are exciting! This got people excited. Especially since the media – especially the car press – shoved all the not-exciting things about EVs (e.g., their high cost, their limited range, their long recharge time) under the rug.

    And covered for Elon, for years.


    It also explains Uncle’s gentle, even careless attitude toward Tesla – viz his indifference over the Teslian tendency to erupt in flames, to crash into barriers and other such things which would have resulted in Toyota or Ford being crucified.


    And it explains Uncle’s indifference to this marketing scamola.

    Tesla serves a broader purpose.

    That purpose, however, has almost run its course. EVs have been normalized; the public – gulled into a state of soporification by “coverage” so one sided it makes Jim Acosta and CNN seem like pals of the Orange Man – appears to have accepted the “inevitability” of EVs.

    They are in for a reality check.

    Perhaps Elon, too. Once his “job” – his real job – has been done, Uncle may no longer have much use for him. This moment may be coming sooner than Elon thinks.

    Too bad it’s probably too late for us.
    Another mark of a tyrant is that he likes foreigners better than citizens, and lives with them and invites them to his table; for the one are enemies, but the Others enter into no rivalry with him. - Aristotle's Politics Book 5 Part 11



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  3. #2
    My guess is he gets a free pass because he is one of them . A lying douchebag and flim flam man who should be part of a gypsy minstrel . What do you think would happen to Ford if they advertised 26K trucks that could only be bought for nearly 40K ? Anyway there will be no tesla gas savings once you are consumed in a fireball of junk you will have pd whatever price they want and the only " savings " will be whatever tax dollars you were able to steal from others for incentives to buy something that will consume you in a fireball and allow the govt to keep your social security taxes and medicare taxes that you pd in.
    Do something Danke

  4. #3
    The controversy over silencing short sellers and skeptics of Tesla has now spilled over to Twitter, as one of the company's most vocal critics, Twitter user @ElonBachman, has been suspended, possibly for sharing statistics on Autopilot and Tesla related deaths.
    In response to a recent tweet by Elon Musk about Tesla's Autopilot feature, @ElonBachman replied with a link to a public Google spreadsheet that appears to have a running tally of deaths associated with Tesla vehicles.

    A link to that spreadsheet is here and a copy of the table included within it looks like this:


    Shortly thereafter, @ElonBachman's account was listed as suspended for violation of Twitter's rules.

    The outrage among the user's followers, combined with the Tesla short selling/critic community, was immediate:
    ATTENTION

    TSLAQ hero @Elonbachman’s account is now suspended.

    This is after @Elonbachman responded to Musk and posted his own research and devastating spreadsheet that tracks the tremendous number of Tesla-related deaths.https://t.co/VACYPviX9z
    — skabooshka (@elonbachman lives!) (@skabooshka) March 27, 2019
    FREE @Elonbachman !! https://t.co/QhEWMRraFD
    — Fizz2 (@The_Fizz2) March 27, 2019
    One of the smartest $TSLAQ'ers around. @ElonBachman has been suspended. Unreal. Twitter is a battleground, but that soldier will be back!!!!!!! https://t.co/6xX9BRGHAr
    — Suspected Saboteur (@ShortingIsFun) March 27, 2019
    $TSLA $TSLAQ@ElonBachman suspended for tweeting out spreadsheet of Tesla deaths.

    Here is the document. Tweet it out.

    Tesla deaths.xlsx https://t.co/RTnDBVZR5X
    — Menelaus (@TheAdaptedMind) March 27, 2019
    Everybody make sure to RT the document in @skabooshka's tweet detailing how deadly driving a $TSLA vehicle can be https://t.co/vzwYOkHX5i
    — tim nutt (@twnutt) March 27, 2019
    https://t.co/Upoipe3wJF
    — Enron Musk (@Enron_Musk_Fake) March 28, 2019
    Tonight’s BaggyBlitz™️ has been canceled. Don’t feel like generating ad revenue for @jack at the moment. https://t.co/2XDU9UUdGJ
    — Bag Holder (@BagholderQuotes) March 28, 2019
    This seems like a good time to remind everyone (who hasn't already) to catch this Joe Rogan podcast with Jack and @Timcast about Twitter censorship. People speaking out against Tesla are being silenced with no reason given. This is not the first time.https://t.co/hq20g4rGVa
    — ben k (@Benshooter) March 28, 2019
    When $TSLA goes BK and all of Elon's frauds are exposed, remember that @jack and 90% of the MSM were complicit. They willfully traded their integrity for a few clicks from know-nothing, hero-worshiping sheep. @elonbachman stands for truth and should be celebrated, not suspended. https://t.co/AOKqPhg2LZ
    — NetflixAndLamp (@NetflixAndLamp) March 28, 2019
    This is an outrage!
    Free @ElonBachman !!!
    Calling all $TSLAQ. Please retweet widely.
    cc @jack @twittersecurity https://t.co/Awzo91aibD
    — TeslaCharts (@TeslaCharts) March 27, 2019
    Nice work @elonmusk. Are you some kind of vampire? Why does sunlight bother you so? That was the one thing that stood out when reading the Vance biography. The lengths you went to cover up all bad news. Try being honest about anything. Just once. You might like it. https://t.co/hYOVUBBLcZ
    — CrowPointPartners (@cppinvest) March 28, 2019
    Tesla CEO Elon Musk is guilty of unethically using the #FirstAmendment as BOTH a sword and a shield.
    Musk cowardly hides behind #1A in SEC contempt case & inconsistently $TSLAQ @ElonBachman's account is suspended for exposing $TSLA deaths. #FraudFormula $TWTR #WhiteKnighting pic.twitter.com/3yakwg6Tpf
    — KillingMyCareer (@MelaynaLokosky) March 28, 2019
    This suspension comes about nine months after Tesla's attack on, and the doxxing of, one of the company's most well known short-sellers and skeptics, Montana Skeptic. The company's pushback on Montana Skeptic, inclusive of Elon Musk even going so far as to reportedly call his boss, instantly catapulted the Skeptic to legendary status among the Tesla short seller community.
    Perhaps this Twitter suspension will also have the opposite of its desired effect and divert attention to the Tesla related deaths that were brought to light in the above linked spreadsheet.
    Twitter, it's your move.


    https://www.zerohedge.com/news/2019-...esla-related-0
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  5. #4

  6. #5
    People become Tesla skeptics in many different ways. Some are investors that take a hard look at the company's financials. Others witness Tesla accidents or wind up getting a glimpse into the company by working there.
    And some - like celebrity jeweler Ben Baller - wind up locked in their Tesla vehicles, trapped, with no way to get out.

    "I wish this was a $#@!ing joke," Baller says in his recent Instagram story video, mirrored on one Twitter user's account.
    "I'm locked inside my $#@!ing Tesla. I know I've been the Tesla fan, I've said so many good things about Tesla. But I've been locked in the car now for 37 minutes $#@!ing waiting for roadside assistance. "
    He continued: "The electronic door - the door is handled by the push button or the key or opening the door handle - and nothing's $#@!ing working."
    Baller had made headlines back in December 2018 when he gifted Elon Musk a custom $40,000 Tesla ring. Three months later, the man who wrote to Musk on Instagram, calling him "an inspiration" and thanking Musk for "what [he's] done for Americans", found himself locked inside his Tesla with no way out.

    More at: https://www.zerohedge.com/news/2019-...e-his-fcking-0
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  7. #6
    Those that died were not vaccinated.
    In fact , I heard that they were anti vaxxers.

  8. #7
    Quote Originally Posted by Stratovarious View Post
    Those that died were not vaccinated.
    In fact , I heard that they were anti vaxxers.
    There is a vaccine against Tesla?
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  9. #8
    Another Tesla burns down, taking four hours to put out.

    Tesla Vehicle Bursts Into Flames, Burns For Hours In Monroeville

    https://pittsburgh.cbslocal.com/2019...le-tesla-fire/

    April 17, 2019 at 11:26 pm

    MONROEVILLE (KDKA) — A Tesla vehicle was on fire for hours Wednesday night in Monroeville.

    It happened at Smeltz Auto Service on Monroeville Road.

    Firefighters say the vehicle caught fire in February in a garage in Fox Chapel.

    The vehicle was towed to the shop in Monroeville on Wednesday and somehow caught fire again.

    Forensic engineers say electric car batteries are unstable.

    “We removed the car from the garage. A Tesla engineer removed the fuse from the battery pack prior to transport, indicating that would make the car safe for transport. We brought it here to Monroeville, arrived around 3:30 in the afternoon, and about 6:20, the car spontaneously caught fire,” forensic engineer David Bizzak said.

    The car burned for about four hours before firefighters were finally able to put out the flames
    Another mark of a tyrant is that he likes foreigners better than citizens, and lives with them and invites them to his table; for the one are enemies, but the Others enter into no rivalry with him. - Aristotle's Politics Book 5 Part 11



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  11. #9
    Quote Originally Posted by Anti Federalist View Post
    Another Tesla burns down, taking four hours to put out.

    Tesla Vehicle Bursts Into Flames, Burns For Hours In Monroeville

    https://pittsburgh.cbslocal.com/2019...le-tesla-fire/

    April 17, 2019 at 11:26 pm

    MONROEVILLE (KDKA) — A Tesla vehicle was on fire for hours Wednesday night in Monroeville.

    It happened at Smeltz Auto Service on Monroeville Road.

    Firefighters say the vehicle caught fire in February in a garage in Fox Chapel.

    The vehicle was towed to the shop in Monroeville on Wednesday and somehow caught fire again.

    Forensic engineers say electric car batteries are unstable.

    “We removed the car from the garage. A Tesla engineer removed the fuse from the battery pack prior to transport, indicating that would make the car safe for transport. We brought it here to Monroeville, arrived around 3:30 in the afternoon, and about 6:20, the car spontaneously caught fire,” forensic engineer David Bizzak said.

    The car burned for about four hours before firefighters were finally able to put out the flames
    Another 'Chicago Fire' waiting to happen, underground parking of a high rise parking lot . :facepalm:

    Elon sounds like a crook, false advertising to the extreme; what you might save in operating costs makes
    the price of the vehicle less?

  12. #10
    The regulatory fight over Elon Musk’s bizarre tweeting habit is once again over, and once again the SEC has folded like a lawn chair.
    Late on Friday, Tesla’s outspoken, if increasingly unpredictable and chaotic CEO, and the Securities and Exchange Commission said in a court that they are settling the long-running legal dispute over how Musk posts news about his electric-car company, avoiding a decision by a federal judge in New York on whether the billionaire should be held in contempt of court.

    In the new settlement - which was the direct result of the SEC demanding the judge find Musk in contempt for his brazen violation of his prior settlement arising from his "funding secured" lawsuit - The SEC and Musk agreed to amend an earlier settlement to add specific topics he can’t tweet about or otherwise communicate in writing without explicit pre-approval from a Tesla lawyer. They include:

    • the company’s financial condition,
    • potential mergers or acquisitions,
    • production and sales numbers,
    • new or proposed business lines,
    • previously unpublished projections and forecasts, and
    • Musk’s purchase or sale of Tesla securities.

    In other words, the SEC "punished" Musk for his fraudulent attempt to crush shorts with his infamous "funding secured" tweet, by demanding he not tweet inside information (and just in case he is confused, they also spelled out to the CEO what is considered inside information), something which would land virtually any other non-billionaire in jail instantly. But, when it comes to the SEC, Musk is clearly more equal than others. Perhaps it's time to start asking why.
    Needless to say, this was another bruising defeat for the SEC, and another crushing victory for Musk, who will only feel even more emboldened to mock and disparage the clearly toothless SEC after this settlement.
    Additionally, there was no mention in the court papers filed Friday of any new fines or additional controls on Musk, which had been a possibility. The agreement must be reviewed and approved by U.S. District Judge Alison Nathan before it can take effect; there is a small chance the Judge will throw up on the agreement and demand a stricter settlement from the SEC.


    “This is a clear win for Elon Musk,” said Dan Ives, an analyst at Wedbush Securities in New York. “This removes an overhang on the stock because many feared this would not end well for Tesla. The bark ended up being worse than the bite. There’s no structural changes.”
    Confirming this, Tesla stock, which had been battered all day and closed at multi-year lows and right where Musk's massive margin call may be called in, rose in extended trading, gaining as much as 1.4% after the close of regular trading.
    As a reminder, Musk first under renewed wrist-slapping criticism from the SEC after a Feb. 19 tweet that the regulator said violated an October settlement between them, which had ended an earlier brouhaha over his proclamations on Twitter, as Bloomberg recounts. Musk said he hadn’t violated the agreement. Had Musk been found in contempt, the judge had the authority to impose hefty fines and new controls on how he communicates with the public.
    At an April 4 hearing, Nathan told both sides to “put on your reasonableness pants” and gave them two weeks to work something out. She extended the deadline to April 25. Musk and the SEC on that date then asked for five more days to continue discussions.
    The judge had urged both sides to try to eliminate ambiguities in the earlier settlement, which required Musk to get internal approval before issuing some tweets. By reaching a compromise, Musk would avoid more penalties while the SEC would affirm the Tesla CEO’s obligation not to release misleading information on social media.
    Musk and the SEC have been fighting since the CEO tweeted Aug. 7 that he had “funding secured” to take Tesla private, sending the shares surging. After an investigation, the regulator sued, saying Musk had misled investors. Musk and Tesla ended that dispute by agreeing to each pay $20 million - most likely funded by his massive margin loan that he has taken out from Morgan Stanley - without admitting wrongdoing.
    As part of the October deal, the two parties also agreed that any future social media posts by the CEO would be reviewed by a lawyer -- known as Musk’s Twitter sitter -- for any information that might affect investors’ decisions. As it later turned out, Musk instantly violated that agreement - resorting to claims that all his tweets are protected by the 1st amendment and thus can not be policed - and the SEC later accused Musk of violating the deal when he tweeted in February that Tesla would make about half a million cars in 2019. He corrected that a few hours later, after consulting with the internal lawyer, with a tweet saying deliveries would reach only about 400,000.
    The regulator argued that Musk was required to have his tweet approved in advance under the terms of the settlement. Musk’s attorneys countered that the post wasn’t material and that the Tesla CEO has been complying with the accord.
    Then, just to spit some more on the SEC's now obliterated credibility and reputation, last weekend Musk, for good measure, repeated his February claim, responding to another Twitter user’s post by tweeting "Tesla will make over 500k cars in next 12 months."
    We fully expect Musk to violate this latest settlement in days, if not hours.

    More at: https://www.zerohedge.com/news/2019-...r-his-tweeting
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  13. #11
    Over the weekend, the late Friday headline snuck through that the SEC and Elon Musk had once again agreed to a settlement over Musk's use of Twitter, and the subsequent allegation that Musk should be held in contempt of court for violating a previous settlement. Now, despite Judge Allison Nathan signing off on a second settlement, one voice out of the SEC is speaking out against what he sees as a "bizarre series of events".
    The news of the second settlement being reached over the weekend went relatively unnoticed, with it again being perceived by many as letting Musk off easy, despite being far more detailed in defining what he is and is not allowed to do on Twitter going forward.
    While many skeptics and Musk critics derided the second settlement, a more prominent voice has emerged from the criticism: a commissioner at the SEC, Robert Jackson. Jackson, the sole Democrat at the SEC, issued a dissenting statement on Tuesday evening after Judge Nathan approved the deal that resolved the new settlement between Musk and the SEC, according to FT.


    Jackson had sharp tongued criticism toward the settlement, stating: "Given Mr. Musk’s conduct, I cannot support a settlement in which he does not admit what is crystal clear to anyone who has followed this bizarre series of events: Mr. Musk breached the agreement he made last year with the Commission—and with American investors."
    Musk had been accused of violating a previous settlement last year that required him to get his tweets pre-approved. The new agreement outlines additional information that requires advanced approval. Musk has denied breaking his initial settlement, an almost laughable defensive posture that ultimately wound up working.
    The comment is a relatively rare dissent at the SEC, who has been united for the most part, at least in public, on enforcement actions under Jay Clayton. Two Republican commissioners had privately objected to the initial settlement with Mr. Musk last year. And when you can make a point clear to both sides of the aisle – namely that Mr. Musk might be getting special treatment from the SEC - why wouldn't it warrant a further look and additional scrutiny from the public?


    https://www.zerohedge.com/news/2019-...t-support-it-0
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  14. #12
    On April 29th, when no one was supposed to pay attention any longer, Tesla filed its quarterly report Form 10-Q with the SEC. Tesla had reported “earnings” on April 24, a doozie of a net loss of $702 million. But today, after the hoopla of its earnings report had died down, Tesla disclosed a slew of things that it hadn’t disclosed last week, including a record amount of sales of pollution credits.
    Without those taxpayer-funded pollution credits that Tesla gets from the government and sells to other companies, its loss as automaker and solar-panel company would have been $918 million and its negative cash flow wouldn’t have been a cash drain of $919 million but a cash sinkhole of $1.14 billion
    Tesla calls these taxpayer-funded pollution credits – part of the package of rich corporate welfare programs that Corporate America benefits from in numerous ways – “regulatory credits.”
    The sales of these regulatory credits are booked as revenue, so they increase revenues by that amount. Since there are no costs associated with them, they also inflate by that amount gross profits, income from operations, net income, and cash flow. In other words, those taxpayer-funded credits are at the core of Tesla’s business model and flow straight from the top line all the way down to the bottom line.
    Tesla discloses these “regulatory credits” – when it finally discloses them – in two categories:

    • Zero Emission Vehicle (ZEV) credits and
    • Non-ZEV regulatory credits.

    On April 24, as I noted at the time, Tesla disclosed merely its $15 million in ZEV credits. But it kept its non-ZEV credits secret, and for a very good reason, with this kind of earnings chart:

    On April 29th, in its 10-Q filing, it disclosed what was really going on with one sentence in a note discussing the composition of its revenues under the heading, “Automotive & Services and Other Segment” (I added the bold):
    “Additionally, there was an increase of $170.6 million in sales of non-ZEV regulatory credits to $200.6 million in the three months ended March 31, 2019.”
    Those regulatory credits in Q1 of $15 million in ZEV credits plus $200.6 million in non-ZEV credits amount to $215.6 million, or 4.8% of the Tesla’s revenues. These disclosures show to what extent it depends on the taxpayer for revenues, profits (well, lower losses), and cash flow.
    Without those credits:

    • Gross profit wouldn’t have been $566 million but merely $350 million.
    • Net loss wouldn’t have been $702 million but $917.6 million, which would have been its largest loss ever by far.
    • Operating cash flow wouldn’t have been the whopper of a negative $919.5 million that it disclosed on April 24, but a negative $1.137 billion!

    This is the reason Tesla doesn’t disclose these credits fully during its earnings release when the media might jump on it (possibly) but delays the disclosure until it files its quarterly 10-Q with the SEC usually the following week.


    More at: https://www.zerohedge.com/news/2019-...its-saved-musk
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  15. #13
    Grokking the Con

    https://www.ericpetersautos.com/2019...kking-the-con/

    By eric - April 30, 2019

    Anyone who hasn’t grokked the con by now is probably a hopeless case. Tesla has been in “business” for going on 15 years and still loses money despite taking billions.

    Ask yourself what kind of “business” gets propped up by the government for that long – and what it implies about the reasons for propping it up.

    Tesla’s purpose isn’t crony capitalism/rent-seeking, except incidentally.

    Its purpose was to habituate the public to the EV as a “normal” car. As the inevitable replacement for our current (IC) cars.

    To get the public used to hearing about and seeing electric cars. And most of all, to sex them up.

    This was also done in order to nudge the car industry into the Electric Car Era – to nudge it into committing billions to EV development, which has happened. So as to mainstream EVs.

    To make them seem The Future – and IC-powered cars so yesterday.

    Note that all of this came from above – as opposed to organically, from below.

    You see, it was determined more than 40 years ago that IC-powered cars had to be gotten rid of – at least, for the masses.

    But how to do this?

    Americans loved their cars and though the affection has waned, they still do. Cars are mobility – which is another aspect of freedom. Come – and go – as you like, on your own schedule – and on the spur of the moment.

    IC cars are not tied to umbilical cords – and older IC cars are completely under the control of their owners.

    You perhaps see the problem . . . from a certain point of view.

    Except for a brief moment at the very dawn of the car age, EVs haven’t been able to compete with gas and diesel-powered cars in terms of their economics or their practicality. Only a small handful of quirky (and affluent) people would freely choose to spend 50-plus percent more to buy an EV that goes half as far as an IC-powered car and needs at least 5-6 times as long to recharge as an IC-powered car takes to refuel.

    The market for EVs as they are – as opposed to how they are hyped – is extremely small.

    The first attempt at purveying EVs via major car companies such as GM (the EV-1/Impact of the mid-1990s) and Ford (Ecostar) failed as badly as a cannonball trying to float.

    As long as gas prices stayed affordable, so IC-powered cars would always remain preferable to EVs, because of their superior versatility and convenience.

    And gas became even more affordable, despite occasional price burps upward that were due to market manipulations, not diminishing supply. It had been hoped that the proletariat – that’s us – could be nudged out of their cars by the phantom menace of Peak Oil.

    But production kept increasing and that con came undone.

    The new con was – is – environmental.

    Our cars weren’t going to be sideline by lack of fuel. But our cars were choking the life out of the planet, it was asserted.

    Suffocation was imminent.

    But that con fell apart, too – or at least, began to look obviously sketchy, even to the average useful idiot. Smog disappeared. Decades ago. Anyone could smell that modern IC cars were – and are – extremely “clean.” So clean that controlling emissions – in the usual sense – had become a regulatory non sequitur. Angels dancing on the head of a pin stuff.

    So a new “emission” was invented – along with a new con to accompany it.

    Carbon dioxide – and “climate change”!

    The latter being rebranding of “global warming,” which had to be airbrushed over because the prophesied warming became cooling. The hot summers of the ’90s gave way to the cooler winters of the 2000s.

    Time for a marketing reboot.

    Climate change fit the bill because no matter how warm or cold it got the blame was still there. It was easy to use the digital-age 24/7 captive media to beat up hysteria by daily alarmist reporting about a hurricane happening somewhere. Or a flood or drought or some other thing. It’s a big planet and something not-pleasant, meteorologically speaking, is certain to be happening in some corner of the world at almost any given moment.

    It it didn’t matter that all of it was within the normal spectrum of a climate that has been changing for billions of years. People bought this con – and that gave EVs the political pretext necessary to obviate the market obstacles.

    This time, EVs would be mandated – and subsidized. To prevent the climate from changing.

    People would – in time – no longer be free to not buy them. And they would be forced to finance them right away.

    Enter Elon.

    A hip, young – well he was, 15 years ago – Tech Dude of the type worshipped by Millennials especially. He would do what ossified Detroit could not: Build planet-saving electric cars.

    Of course, he would get “help” – from Uncle.

    The very same Uncle, it must be said, who “helped” Elon’s “social media” friends take over and Thought Police digital-age communications. Not coincidentally, it has become “dangerous and derogatory” to “deny” – that is, to question – the “climate change” catechism. To write unflattering truths about electric cars, such as their much-reduced range when it gets cold out and their much shorter economically useful lives, because of the inherently early death of their batteries relative to the EV itself – and the economically untenable replacement cost of the battery vs. the depreciated value of the EV itself.

    Well, Elon got his ticket – and we are taking the ride.

    The EV pushers who also control the levers of macht – of power; it sounds so much better in German – decreed that EVs must be built and that those who did not build them must buy “credits” from those who did.

    That would be Elon.

    Elon, meanwhile would make flashy promises and produced some flashy EVs. Note the flashy part.

    Not practical or efficient.

    But flashy. Fast, gadgety. Hip, virtue-signaling.

    And just as functionally gimped – and economically insane – as ever.


    We are almost there now. EVs are within a couple of years of becoming the only cars we’ll be allowed to buy and possibly also to drive. The IC car restricted areas – and outright bans – that are already being imposed in Europe are going to be imposed here. The government won’t have to resort to physically taking away IC cars; people just won’t be allowed to use them. Lawn art, garage sculpture.

    The Motor Law – for those who get the reference.

    And Elon will have served his purpose. Tesla will likely shut down soon – because Tesla will no longer matter.
    Another mark of a tyrant is that he likes foreigners better than citizens, and lives with them and invites them to his table; for the one are enemies, but the Others enter into no rivalry with him. - Aristotle's Politics Book 5 Part 11

  16. #14
    One of the most unfortunate side effects of Elon Musk’s recklessness over the last few years may wind up not being his potential breaching of securities laws and defiance of the SEC, but rather the fatal deaths associated with several Tesla accidents.
    As a result of one of those accidents - a fatal Model X crash that we first documented back in March of 2018 - Tesla now finds itself on the receiving end of yet another lawsuit. The family of the man who died in the accident, Walter Huang, filed a complaint April 26 that claims his “state-of-the-art” Tesla lacked safety features, such as an automatic emergency braking system, which the family pointed out was available on less expensive vehicles from other carmakers.
    The family also says that Tesla knew, or should have known “that the Tesla Model X was likely to cause injury to its occupants by leaving travel lanes and striking fixed objects when used in a reasonably foreseeable manner.”

    The family says that Tesla should have issued a recall or provided a warning as a result.
    B. Mark Fong, a lawyer for the family, said: “Tesla is beta testing its Autopilot software on live drivers. The Huang family wants to help prevent this tragedy from happening to other drivers using Tesla vehicles or any semi-autonomous vehicles.”
    The State of California Department of Transportation is also named as a defendant, raising the question of when regulators could start to be held accountable for allowing Tesla vehicles equipped with Autopilot be marketed and sold the way they are.
    Driving on Highway 101 near Mountain View, California, Huang's Model X suffered a gruesome crash when the vehicle hit a carpool lane barrier, leading two more cars to crashing into it, and causing the lithium ion batteries powering the vehicle to ignite and explode, at which point the vehicle burst into flames.


    More at: https://www.zerohedge.com/news/2019-...g-live-drivers
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  17. #15
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  18. #16
    Toasty.

    Another mark of a tyrant is that he likes foreigners better than citizens, and lives with them and invites them to his table; for the one are enemies, but the Others enter into no rivalry with him. - Aristotle's Politics Book 5 Part 11



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  20. #17

    Don't need a weather man to know which way the wind blows

  21. #18
    Another mark of a tyrant is that he likes foreigners better than citizens, and lives with them and invites them to his table; for the one are enemies, but the Others enter into no rivalry with him. - Aristotle's Politics Book 5 Part 11

  22. #19
    A Peck on the Neck

    https://www.ericpetersautos.com/2019...k-on-the-neck/

    By eric - May 14, 2019

    A vampire’s continued existence depends on the continuous flow of the blood of the living. The same principle animates Tesla and other purveyors of electric cars – who are about to receive another $2 billion-plus from FiatChrysler (FCA) over the course of the next three years.

    This ought to stave off bankruptcy long enough to bankrupt legitimate car companies like FCA (which choose not to purvey electric cars, because people aren’t buying them).

    After which, the vampire will feast on the blood of us – directly, this time.

    The cash infusion is performed via what is styled the “purchase” of carbon credits. These are purchases in the manner of our “contributions” to Social Security – i.e., they are extorted payments made under duress for something the victim would never freely pay for if he had the option to say no.

    The “credits” being “purchased” are for electric cars not built by FCA. Instead, FCA pays Elon, et al, to build them and gets the “credit” for the supposed reduction in C02 “emissions” (it takes many italics and air quotes to parse government-speak) achieved thereby.

    Supposed “emissions” because the determination is based entirely on what comes out of a car’s exhaust pipe – and of course, electric cars haven’t got one at all and this is why they are regarded as “zero emissions” vehicles (ZEVs) from a regulatory standpoint. But from a factual standpoint – assuming the object of this exercise is a reduction in these C02 “emissions” – the logic is flawed because electric cars produce lots of C02 in the course of their manufacturer.

    Mining for materials and all the associated processes isn’t an “emissions” free endeavor; in fact, it has been calculated that the much-more-intensive mining/manufacturing involved in obtaining the materials needed for an EV and the actual building of the EV plus the generation of electricity to power the EV produce at least as much C02 as the typical IC car does, just not at the same time – and not at the same place.

    This difference in source ought to be a regulatory irrelevance – if “climate change” is a real worry and the object of this exercise is really the reduction of “greenhouse” gasses such as C02.

    Of course, it’s not because if it were, EVs would not be considered ZEVs – which they objectively aren’t.

    Government regulators actually aren’t idiots, generally speaking. They are, however, despicably dishonest.

    They know, among many other things, that “zero emissions” EVs is a fraud. But it’s one that serves a purpose and so the fraud is overlooked – for now.

    Until the purpose has been realized.

    They also probably know that catastrophic man-induced “climate change” is a fraud. They certainly know that the things which used to be obsessed about in terms of “emissions” – i.e., the uncontrolled byproducts of internal combustion – are no longer an issue and accordingly, neither is smog – so they had to gin up a new “emission” in need of being controlled.

    This time, one that could only be controlled via elimination. Of cars, you see. First, the non-electric ones. But there will be a next…

    Enter carbon dioxide.

    And in place of smog, “climate change” – rebranded “global warming,” which didn’t sell well when it was noticed there was cooling going on.

    Laws were passed stipulating that a certain number of vehicles sold in a given state – California, for example – had to be “zero” emissions electric cars. If you didn’t make electric cars, as most of the industry still doesn’t, you had to “purchase” credit for not building them – i.e., pass money over to Elon, the principal beneficiary of the blood-letting.

    As he grows redder in the cheek, the victim turns ever whiter.

    This is not accidental.

    The choicest victims are those – like FCA – which have adamantly continued to build cars (and trucks) whose carbon “emissions” are not “zero” – because they are measured the tailpipe – but which are still nothing more than the equivalent of a parrot coughing in the Superdome as far as altering the atmospheric balance of C02 to any extent that might lead to a harmful result.

    If you dinna believe that, first read up on just how much of the atmosphere actually is carbon dioxide – and then read more about the sum total added to that by cars.

    It is a very small number made to seem very large – and very scary – by the modern era’s equivalent of the old tribal witch doctor, who served the interests of the tribal chief by keeping the tribesmen in perpetual terror of the sun failing to rise and the rains never to return.

    Unless, of course, they bowed their heads, asked no questions and did what they were told. Then Crom would be appeased… .

    This assertion can easily be proved by simply observing the fact that “zero” emissions electric cars are not. Since their “emissions” in the aggregate are in fact just as much as those of many current IC cars and therefore just as much a “threat” to the health and well-being of life on this Earth as those IC cars, why are their “emissions” being given a pass?

    The only answer that makes sense is not the answer people want to hear – because hearing it might make them think about things which don’t bear thinking about, like the improbability of a steel-framed building with a dozen or more structural hard points collapsing symmetrically and at near free-fall straight down onto its own footprint.

    EVs will be considered “zero” emissions for just as long as it takes to suck the life out of the IC car business. Once the corpse falls to the ground, the vampire will seek fresh blood.

    Elon, you see, isn’t really Dracula at all. He is more like Mr. Renfield – the count’s stooge.

    In time, Elon will discover this, too.

    And then, so will we.
    Another mark of a tyrant is that he likes foreigners better than citizens, and lives with them and invites them to his table; for the one are enemies, but the Others enter into no rivalry with him. - Aristotle's Politics Book 5 Part 11

  23. #20
    Quote Originally Posted by Swordsmyth View Post
    One of the most unfortunate side effects of Elon Musk’s recklessness over the last few years may wind up not being his potential breaching of securities laws and defiance of the SEC, but rather the fatal deaths associated with several Tesla accidents.
    As a result of one of those accidents - a fatal Model X crash that we first documented back in March of 2018 - Tesla now finds itself on the receiving end of yet another lawsuit. The family of the man who died in the accident, Walter Huang, filed a complaint April 26 that claims his “state-of-the-art” Tesla lacked safety features, such as an automatic emergency braking system, which the family pointed out was available on less expensive vehicles from other carmakers.
    The family also says that Tesla knew, or should have known “that the Tesla Model X was likely to cause injury to its occupants by leaving travel lanes and striking fixed objects when used in a reasonably foreseeable manner.”

    The family says that Tesla should have issued a recall or provided a warning as a result.
    B. Mark Fong, a lawyer for the family, said: “Tesla is beta testing its Autopilot software on live drivers. The Huang family wants to help prevent this tragedy from happening to other drivers using Tesla vehicles or any semi-autonomous vehicles.”
    The State of California Department of Transportation is also named as a defendant, raising the question of when regulators could start to be held accountable for allowing Tesla vehicles equipped with Autopilot be marketed and sold the way they are.
    Driving on Highway 101 near Mountain View, California, Huang's Model X suffered a gruesome crash when the vehicle hit a carpool lane barrier, leading two more cars to crashing into it, and causing the lithium ion batteries powering the vehicle to ignite and explode, at which point the vehicle burst into flames.


    More at: https://www.zerohedge.com/news/2019-...g-live-drivers

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  24. #21
    This is literally the only part of the 1992 movie Singles that I remember.
    Even back then the people resisting changes in transit were portrayed as evil.

    There are no crimes against people.
    There are only crimes against the state.
    And the state will never, ever choose to hold accountable its agents, because a thing can not commit a crime against itself.

  25. #22
    Quote Originally Posted by Anti Federalist View Post
    Science denier!
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  26. #23
    So, clearly they're lying about why they want us in electric cars. So what's the real reason? I see two possibilities.

    1. Battery or electric motor makers, or the companies that mine the materials they're made of, bought Congress.

    2. Something about electric cars seems advantageous to them.

    There are two primary characteristics of electric cars. They get their power from utilities. That has possibilities. Electric companies do buy influence. They also buy coal, but we know coal companies don't currently own Congress. They buy natural gas, and we know petroleum companies exercise considerable influence. But IOCs run on their products, so why go to the trouble? Nuclear plants enrich uranium, so the MIC could favor more electricity use for that reason. But none of this seems to really fill the bill.

    The other thing unique about straight electrics is their limited range. Now, in an era when interstate mass transit entails filling the skies with half-burned kerosene, encouraging interstate mass transit is clearly not a boon to the environment. But eliminating cars capable of interstate travel certainly does make it much, much more difficult to travel undetected. Bus travel sucks, air travel subjects travelers to the TSA, and the federal government owns train travel.

    It seems to me the motivation has to be a desire to keep close tabs on us. It isn't hard to see why they're inventing bull$#@! excuses to do what they're doing.
    Quote Originally Posted by Swordsmyth View Post
    We believe our lying eyes...

  27. #24
    Quote Originally Posted by acptulsa View Post
    So, clearly they're lying about why they want us in electric cars. So what's the real reason? I see two possibilities.

    1. Battery or electric motor makers, or the companies that mine the materials they're made of, bought Congress.

    2. Something about electric cars seems advantageous to them.

    There are two primary characteristics of electric cars. They get their power from utilities. That has possibilities. Electric companies do buy influence. They also buy coal, but we know coal companies don't currently own Congress. They buy natural gas, and we know petroleum companies exercise considerable influence. But IOCs run on their products, so why go to the trouble? Nuclear plants enrich uranium, so the MIC could favor more electricity use for that reason. But none of this seems to really fill the bill.

    The other thing unique about straight electrics is their limited range. Now, in an era when interstate mass transit entails filling the skies with half-burned kerosene, encouraging interstate mass transit is clearly not a boon to the environment. But eliminating cars capable of interstate travel certainly does make it much, much more difficult to travel undetected. Bus travel sucks, air travel subjects travelers to the TSA, and the federal government owns train travel.

    It seems to me the motivation has to be a desire to keep close tabs on us. It isn't hard to see why they're inventing bull$#@! excuses to do what they're doing.
    At this stage right now it is all about money... Funding, Grants, Subsidies, Tax write offs, profitable bailouts, and money laundering. Caring whether it is feasible or not or even works is way down on the priority list if ever.



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  29. #25
    Quote Originally Posted by Brian4Liberty View Post
    Science denier!
    The Fuel Consumed part???

    energy is only ever transferred..
    Liberty is lost through complacency and a subservient mindset. When we accept or even welcome automobile checkpoints, random searches, mandatory identification cards, and paramilitary police in our streets, we have lost a vital part of our American heritage. America was born of protest, revolution, and mistrust of government. Subservient societies neither maintain nor deserve freedom for long.
    Ron Paul 2004

    Registered Ron Paul supporter # 2202
    It's all about Freedom

  30. #26
    Quote Originally Posted by ATruepatriot View Post
    At this stage right now it is all about money... Funding, Grants, Subsidies, Tax write offs, profitable bailouts, and money laundering. Caring whether it is feasible or not or even works is way down on the priority list if ever.
    I doubt that. I've never known them to mind killing two birds with one stone. And restricting our ability to travel incognito fits in with the general theme of constant surveillance.
    Quote Originally Posted by Swordsmyth View Post
    We believe our lying eyes...

  31. #27
    Quote Originally Posted by acptulsa View Post
    So, clearly they're lying about why they want us in electric cars.
    Actually the Lie was that we needed Gas Cars... until that was exploited to it's limits.

    What they are PUSHING is the Self Drive..AI Controlled vehicles.. and the elimination of independent travel.


    Electric performance is on the increase while Big Oil is losing influence that they were secure in.


    I don't like the push for AI.. I don't believe the systems nearly ready yet,, (even if it was a good idea,,and it is not)

    I do love the performance and potential of Electrics..and wish they wern't being lumped together.
    Liberty is lost through complacency and a subservient mindset. When we accept or even welcome automobile checkpoints, random searches, mandatory identification cards, and paramilitary police in our streets, we have lost a vital part of our American heritage. America was born of protest, revolution, and mistrust of government. Subservient societies neither maintain nor deserve freedom for long.
    Ron Paul 2004

    Registered Ron Paul supporter # 2202
    It's all about Freedom

  32. #28
    Quote Originally Posted by acptulsa View Post
    I doubt that. I've never known them to mind killing two birds with one stone. And restricting our ability to travel incognito fits in with the general theme of constant surveillance.
    Just icing on the cake and an advantageous final outcome. But I think right now it's all about the money. All green industry is about the .gov money.

  33. #29
    Quote Originally Posted by ATruepatriot View Post
    Just icing on the cake and an advantageous final outcome. But I think right now it's all about the money. All green industry is about the .gov money.
    Well, I'm sure they won't mind. They love to be underestimated.
    Quote Originally Posted by Swordsmyth View Post
    We believe our lying eyes...

  34. #30
    Elon Musk To Be Honored With The Stephen Hawking Award For His Role In Promoting Science

    Elon Musk has been honored with the Stephen Hawking Science Medal for Science and Communication. The Tesla (TSLA) CEO and SpaceX CFO was recognized for his advancements in science and will receive the award at the Starmus Festival in June in Zurich, Switzerland.

    The award honors those “individuals who promote public awareness of science” in recognition of the theoretical physicist, Stephen Hawking. The award was first introduced in 2015 and also honors individuals in the arts and film industries.

    When Stephen Hawking presented the awards in 2016, he said the award “matters to me, to you, to the world as a whole.” Hawkings previously selected the winners of the award, prior to his death, Yahoo News reported.

    Musk won the award for his “astounding accomplishments in space travel and for humanity,” Starmus said in a statement. Musk will receive the award from Starmus founding member and Ph.D. astrophysicist Brian May. Scientist and educator Bill Nye will host the ceremony.

    The 2019 Stephen Hawking award was also given to musician Brian Eno for popularizing science, and the documentary “Apollo 11” by Todd Douglas Miller. Past winners include astrophysicist Neil deGrasse Tyson and the TV show “The Big Bang Theory.”

    Shares of Tesla stock were up 2.24 percent as of 11:25 a.m. ET on Tuesday.

    https://www.ibtimes.com/elon-musk-be...cience-2791959

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