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posted by chromas on Monday August 13 2018, @09:21PM   Printer-friendly
from the $ dept.

Musk Says 'Funding Secured' Claim Sparked by Saudi Meeting

Elon Musk said interest from Saudi Arabia's sovereign wealth fund gave him the confidence to drop the bombshell last week that he was considering taking Tesla Inc. private. The Saudi Kingdom's Public Investment Fund had approached Musk going back almost two years about taking Tesla off the market, he wrote in a blog post Monday, confirming that the fund recently bought an almost 5 percent stake. Musk described a July 31 meeting in which the Saudi fund's managing director expressed regret that Tesla hadn't moved forward with a go-private transaction.

[...] Several investors have since sued Musk and Tesla, claiming the company's share price had been manipulated. The Securities and Exchange Commission is said to be intensifying its scrutiny of the company and its chief executive officer after having started gathering general information about Tesla and Musk's earlier public pronouncements about manufacturing goals and sales targets.

One of Tesla's biggest critics, Vertical Group analyst Gordon Johnson, read Musk's blog post as a walk-back maneuver from his "funding secured" tweet last week. He cited Musk's statement Monday that the Saudi fund's support for taking Tesla private was "subject to financial and other due diligence and their internal review process for obtaining approvals." "He is specifically stating that funding is not secured, and I think that's a big deal," Johnson, whose $93 price target on Tesla shares is the lowest among Wall Street analysts, said on Bloomberg Television. "The question then becomes, what does the SEC do here, and do the shareholders stick with him?"

Also at CNBC.

Previously: Elon Musk Considers Taking Tesla Private


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  • (Score: 3, Interesting) by Anonymous Coward on Monday August 13 2018, @10:45PM (12 children)

    by Anonymous Coward on Monday August 13 2018, @10:45PM (#721156)

    Investors have to be Saudis because Americans don't have any money. The Boomers are busy spending their pensions on luxuries as fast as they can before they die. GenXers are slaving from paycheck to paycheck. Millennials are starving while they drive Ubers for negative net income. Homelanders are stuck in the basement with social media and video games since they can't afford to go anywhere.

    When the Boomers die they will bury their vast fortunes in their tombs, bankrupting America for good.

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  • (Score: 1, Insightful) by Anonymous Coward on Monday August 13 2018, @11:00PM (6 children)

    by Anonymous Coward on Monday August 13 2018, @11:00PM (#721161)

    Thanks conservatives for sucking the big dong of oil execs! Is the runoff trickling down and making you feel better?

    Fuckers tanked the country out of hate, fear, and greed. THANKS A LOT!

    • (Score: 0, Troll) by Anonymous Coward on Monday August 13 2018, @11:22PM (4 children)

      by Anonymous Coward on Monday August 13 2018, @11:22PM (#721168)

      In America, conservatives are people who want the Founders' ideal: A small, explicitly limited government whose sole purpose is to protect each individual's rights.

      Whoever is responsible for the downfall, it's not the conservatives.

      • (Score: 1, Insightful) by Anonymous Coward on Tuesday August 14 2018, @03:26AM (2 children)

        by Anonymous Coward on Tuesday August 14 2018, @03:26AM (#721218)

        Sorry bud, that might have been the ideal but it sure isnt the practice. Like liberals who are ok with mass surveillance or who think weed is evil. They arent 100% liberals.

        So ya, i reiterate, conservstives tanked this country and the dems followed suit to try and win with a more centrist position. We are now in corporatocracy and we need to flip this wagon around before the next generation thinks this shit is normal.

        • (Score: 0) by Anonymous Coward on Tuesday August 14 2018, @08:56AM (1 child)

          by Anonymous Coward on Tuesday August 14 2018, @08:56AM (#721288)

          we need to flip this wagon around before the next generation thinks this shit is normal.

          You mean it isn't yet? The US has been run by corporations since at least the '80s. Between big oil, the military industry, the MAFIAA or the banks, I don't see any occasion in my lifetime that the US was ruled "by the people, for the people".

          • (Score: 4, Insightful) by c0lo on Tuesday August 14 2018, @01:09PM

            by c0lo (156) Subscriber Badge on Tuesday August 14 2018, @01:09PM (#721344) Journal

            I don't see any occasion in my lifetime that the US was ruled "by the people, for the people"

            But it is... for certain values of people.

            --
            https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
      • (Score: 2) by cmdrklarg on Tuesday August 14 2018, @04:05PM

        by cmdrklarg (5048) Subscriber Badge on Tuesday August 14 2018, @04:05PM (#721407)

        The problem has very little to do which part of the political spectrum you reside in. It has everything to do with the rich and powerful using their money to influence politicians to have them do their bidding.

        And I'll give you one guess on which side of the political spectrum is doing everything they can to cater to the rich and powerful. Who was it that just passed massive, permanent tax cuts for the rich? That was Obama, right?

        --
        The world is full of kings and queens who blind your eyes and steal your dreams.
    • (Score: 2) by LoRdTAW on Tuesday August 14 2018, @01:28PM

      by LoRdTAW (3755) on Tuesday August 14 2018, @01:28PM (#721350) Journal

      Fuckers tanked the country out of greed using hate and fear. THANKS A LOT!

      FTFY.

  • (Score: 0) by Anonymous Coward on Tuesday August 14 2018, @12:13AM (3 children)

    by Anonymous Coward on Tuesday August 14 2018, @12:13AM (#721179)

    What's wrong with Mr. Putin? After all, he never bombed the US like Saudis; not yet anyway.

    • (Score: 0) by Anonymous Coward on Tuesday August 14 2018, @03:46AM (2 children)

      by Anonymous Coward on Tuesday August 14 2018, @03:46AM (#721225)

      Maybe not, but he did hack our interwebby to fuck with our minds.

      • (Score: 0) by Anonymous Coward on Tuesday August 14 2018, @04:50AM (1 child)

        by Anonymous Coward on Tuesday August 14 2018, @04:50AM (#721244)
        Perhaps a payback for decades of VOA, BBC, Radio Svoboda (and others) shortwave broadcasts into USSR with explicit goal to mess with minds of the soviet people?
        • (Score: 4, Informative) by c0lo on Tuesday August 14 2018, @05:16AM

          by c0lo (156) Subscriber Badge on Tuesday August 14 2018, @05:16AM (#721247) Journal

          Don't need to go that far back. 1996 and the re-election of Yeltsin [latimes.com] would suffice.

          Although the Americans spoke no Russian and worked through translators, they began secretly laying out an American-style campaign to counter the public sentiment running against Yeltsin.

          When they started, Yeltsin's approval rating was about 6%, and, as they told Time magazine, Josef Stalin had a higher positive rating in their polls. Yet last week, Yeltsin defeated Communist candidate Gennady A. Zyuganov by more than 13 percentage points.

          One of the results? The raise of the Russian oligarchs [npr.org] which some of them are now subject of US travel ban.

          (not in my intention to pass a value judgement here, just pointing out that interventionism is not necessary a thing of the distant past)

          --
          https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
  • (Score: 0) by Anonymous Coward on Tuesday August 14 2018, @03:42AM

    by Anonymous Coward on Tuesday August 14 2018, @03:42AM (#721224)

    Well you don't see Mr. Gates or the Mr. Koch's nor Mr. Buffet Buying into Tesla. They are all sitting on the sidelines waiting to see how things shake out.