This past week, Tesla announced that it would sell $500 million in stock, in an offering designed to raise cash to fund construction of a massive battery factory in Nevada and to scale up the company's Supercharger network of charging stations.
The company then upped the amount of stock on offer, to $640 million. CEO Elon Musk will likely purchase $20 million in shares himself.
The move surprised no one who has been following the ups and downs of Tesla's fortunes and stock price over the past 12 months, although it came sooner than anyone really thought.
But the move also signaled Tesla's admission that it's entering its fourth major crisis since the company's founding in 2003.
Tesla has survived its previous brushes with death, so there's no reason to expect it won't come out on top this time, if history is any guide.
But then again, a crisis is a crisis and shouldn't be downplayed.
Here's a rundown of what Tesla has been through already in its short corporate lifetime.
The Elon Musk Management Crisis
Musk was an early Tesla investor and chairman of its board. As he ramped up the amount of money he was pouring into the company — funds he had from the sale of PayPal to eBay and that had made him a multimillionaire — he squared off against Tesla co-founder Martin Eberhardt. Eventually, Eberhardt would be forced out and Musk would become CEO in late 2008. Eberhardt and Tesla settled their differences after a lawsuit.
Maybe Tesla Motors II without the egotistical CEO, will concentrate on making great cars instead of taking over the world.
Powdy, SG&A is the sum of all direct and indirect selling expenses and all general and administrative expenses of a company.
Direct selling expenses are expenses that can be directly linked to the sale of a specific unit such as credit, warranty and advertising expenses. Indirect selling expenses are expenses which cannot be directly linked to the sale of a specific unit, but which are proportionally allocated to all units sold during a certain period, such as telephone, interest and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, heat, lights and gourmet catering for Elon.
Shouldn't we have a configurator for the pickup and the Gen 3 by now too?
... Heck, the X is four years late, whats the hurry now?
TSLA longs rightfully concerned about slowing growth, competition and low oil prices. You are too, or you wouldnt bother denigrating the naysayer.
I'll take one if they get cheap enough. You can buy them even if youre short cant you?
This must be an offshoot of SpaceX technology?
They have an early warning strut replacement indicator.
Still needs some tweaking?
Although I think TSLA is way overvalued I picked up a few shares to see what happens next couple of days.
Long term, TSLA is a screaming short, but attempting to take advantages of swings in both directions.
Enphase Energy (NASDAQ: ENPH ) is one of the largest players in the solar inverter market, and they're looking at energy storage as a way to stay relevant in inverters. The storage system, as they see it, becomes the intelligent hub between solar panels and the grid. Being able to store energy will allow Enphase to stabilize home and grid impacts, adding value for everyone involved.
Alevo is a start-up with $1 billion in funding that is building a grid energy storage system called GridBank. Recently, it announced an agreement with Customized Energy Solutions to build 200 MW of energy storage that will serve the frequency regulation services to the wholesale energy market.
Sunverge is an energy storage company with backing from Total (NYSE: TOT ) and a partnership with Total's solar company SunPower (NASDAQ: SPWR ) . It's combining energy storage and cloud software to "automatically lower electricity bills, improve reliability, and protect the grid." With its Total and SunPower ties, this is a company to watch closely in the future.
To complete the purchase, Builders FirstSource plans to rollover $350 million in existing senior secured notes, issue $295 million in debt and take on another $750 million in senior unsecured notes. Another $100 million will also be offered through a public offering of Builders’ common stock.
The transaction is expected to close in the second half of 2015, pending closing conditions and regulatory approvals.
Ford lets their customers make an informed decision when they redesign.
They are still selling RWD on the 85
... and why would a engineering / feature change require any writeoffs?
They arent abolishing a technology, closing a product line, shuttering a factory, etc.
Not that I dont think Tesla is overly creative with its numbers, but I dont see why this
improvement would affect anything.
Paying no car tax when purchasing a car is actually possible though it can be difficult. There are some loop holes in the laws and some not very well known that you can use to eliminate the car tax on your vehicle purchase. You can save money now without having to wait until the end of the year to use them as deductibles on your taxes.
States with No Sales Tax: If you really want to avoid paying sales tax, then there are several states that do not charge any. You can travel to that state and make your purchase there. Depending on how much you will save on paying for the car and the proximity to where you currently live, this may or may not be a feasible option. It is possible to completely set up the purchase over the phone and just go pick up your car. States that do not charge a sales tax include New Hampshire, Oregon, Delaware, Montana and Alaska.
Where You Register the Vehicle: You can only avoid this tax if you purchase the car in a no sales tax state and then register the vehicle in that state as well. If you purchase a car in Oregon and then register it in CA then you will have to pay the sales tax that applies to CA car sales. This is very difficult, as you will need to have an address in that state and proof of this address. You cannot use a dummy address, as most states have cracked down on this type of tax evasion and individuals do not only have to pay the tax but also a tax evasion fine.
Buy Before Moving: If you currently live in a state with no sales tax but are moving to one that does not, you need to purchase your car a minimum of 90 days prior to your move if not more. You are not evading the tax when you register the car in the new state, and this is a very good idea if you are considering moving in the near future and want to get a new car.
Exemptions to the Sales Tax: There are some situations in which you do have free car tax no matter where you live. If you are disabled, then you do not have to pay. Historic vehicles ?
I had a Renault Le Car, but I never admitted it was mine.
Very dangerous little thing, but I also got it cheap. There's a reason its called Le Car, because they didnt want it referred to as a go cart, which would have been understandable.
Why doesnt Chevy put a lower price on the Corvette with an asterisk referring to how much you'll save on #$%$? Tesla just needs to state a price like everyone else.