joe wrote:Two guys named Elon and Kiel are arguing on the internet
The Dirty Turtle wrote:its funny how many myth of the ceo posts there are in the thread abt the guy most responsible for making humans multi planet and thus possibly immortal
grace cathedral park wrote:
The Dirty Turtle wrote:its funny how many myth of the ceo posts there are in the thread abt the guy most responsible for making humans multi planet and thus possibly immortal
badhat wrote:bike solve all problems
badhat wrote:bike solve all problems
CreditSights analysts called attention to the addition of the Fremont factory -- a 5.3m-square-foot facility that was previously home to a famous joint venture between GM and Toyota -- in a Tuesday note. The electric carmaker also said vehicles in or on their way to Belgium could be included in the base of collateral for its Dutch borrowings.
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This might not improve the company's ability to borrow, either. The analysts wrote they “suspect that the Fremont collateral addition was demanded by the banks to enhance the borrowing base though not necessarily to expand the facility size”.
Tesla has $543m of available credit left under its $1.8bn agreement maturing in 2020, they said.
Investors and traders have been discussing which assets Tesla might pledge as collateral to bolster its liquidity position. This talk has taken on more significance in recent weeks, as the company is burning through cash, approaching the maturity date of $230m of convertible debt in November, and continuing to insist it will not need to raise capital this year. Covenants on its $1.8bn of high-yield bonds left a loophole that allows the company to pledge its Gigafactory (which is still under construction) to secure future debt.
Chief executives of publicly traded companies typically grit their teeth and coolly dance around pointed questions during these calls. Mr. Musk chose instead to dismiss analysts over their “boring, bonehead” questions, cutting off two of them when they asked about Tesla’s capital requirements and customer reservations for the Model 3 sedan.
“This is a financial analyst call—this is not a TED talk,” Toni Sacconaghi, an analyst with Sanford C. Bernstein & Co., said on CNBC Thursday after he was cut off by Mr. Musk on the call. “So when financial questions are asked, they should be addressed.”
No fundraising option is without drawbacks. Issuing new shares would dilute shareholders and likely drive down the share price, potentially rattling creditors and pushing up borrowing costs—a chain that could result in further share declines. And the falling price of Tesla’s unsecured bond means new debt could lead to significant added interest expense.
Tesla could also sell convertible bonds, a hybrid of debt and equity that has been the company’s favored means of raising cash in recent years. But that could prove more challenging due to the unique dynamics of the market. Many investors, such as hedge funds, will buy convertible bonds only if they can also bet against, or short, the issuer’s shares—a strategy known as convertible bond arbitrage.
Normally, that isn’t a problem, as investors can easily short shares in many large firms by borrowing in the stock-loan market and then selling, with the expectation of repurchasing at lower prices later. But Tesla is now the most shorted stock in the U.S. by dollar volume, making it increasingly costly and difficult to borrow its shares.
Beautiful Jugdish wrote:Tesla could also sell convertible bonds
badhat wrote:bike solve all problems
In a review, the magazine said the Model 3’s 60 miles per hour stopping distance of 152 feet was “far worse than any contemporary car we’ve tested.” It took 7 feet more that Ford Motor Co.’s F-150 full-size pickup. The company told Consumer Reports that its own tests averaged a stopping distance of 133 feet and that results vary based on weather, tire temperature and other conditions.
badhat wrote:bike solve all problems
delgriffith wrote:Quick Google search reveals that I have no idea what I'm talking about.
fakename wrote:delgriffith wrote:The thing about the stereo just randomly playing super loud is so rad.
REAL BASED SLOB wrote:after the javy home run WGN came back with an extended fan cam sequence soundtracked by meat puppets - up on the sun and i've just been doing bong rips and jamming meat puppets since
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