Jump to content
  • William Maley
    William Maley

    Tesla Finds Itself Under Investigation By the Justice Department

      "Funding Secure" continues to haunt Tesla

    We have to wonder if Tesla CEO Elon Musk regrets posting this tweet as the Justice Department has opened an investigation into the company.

    Bloomberg has learned from two sources that federal prosecutors opened a fraud investigation into the company after Musk's tweet sent shares soaring. This follows an inquiry by Securities and Exchange Commission into whether or not Tesla had issued "misleading pronouncements on manufacturing goals and sales targets."

    The investigation is in the early stages according to a source and its unclear how big of a scope the investigation could take. Prosecutors could look into other statements by Musk concerning Tesla's overall health and the circumstances surrounding Dave Morton, Tesla's former chief accounting officer.

    “Last month, following Elon’s announcement that he was considering taking the company private, Tesla received a voluntary request for documents from the DOJ and has been cooperative in responding to it. We have not received a subpoena, a request for testimony, or any other formal process. We respect the DOJ’s desire to get information about this and believe that the matter should be quickly resolved as they review the information they have received,” Tesla said in a statement today.

    Source: Bloomberg

    User Feedback

    Recommended Comments



    If Elon were smart, he would either resign from Tesla or sell it off to a larger automaker.  There is never any good reason for any CEO to try and short squeeze any short sellers of their corporate stock.  None.

    • Upvote 1
    Link to comment
    Share on other sites

    14 hours ago, Drew Dowdell said:

    I'll take $13 billion worth of vapor thanks.

    Ford Market Cap - $38b

    Tesla Market Cap - $51b

    Which shows how irrational the stock market is.

    13 hours ago, Drew Dowdell said:

    Given Ford's debt issues... possibly neither. 

    The happiest thing I have read all week. Given the way I am feeling about Ford right now....shutter the plants.

    13 hours ago, riviera74 said:

    Who is more likely to survive as a going concern in 2030?  Tesla will not make it that far.

    Sadly, no....probably bought by the Chinese who will appreciate the technology.

    • Upvote 1
    Link to comment
    Share on other sites

    18 minutes ago, A Horse With No Name said:

    Which shows how irrational the stock market is.

    The happiest thing I have read all week. Given the way I am feeling about Ford right now....shutter the plants.

    Sadly, no....probably bought by the Chinese who will appreciate the technology.

    Think Chinese owned FORD for the Truck / SUV line only, they will dump everything else to build and import in their own car crap. :duck:

    • Upvote 1
    Link to comment
    Share on other sites

    27 minutes ago, dfelt said:

    Think Chinese owned FORD for the Truck / SUV line only, they will dump everything else to build and import in their own car crap. :duck:

    A match made in heaven...two groups that truly deserve each other. Except that Fords Chinese sales are in the tank. Even people who used Ox carts for centuries and still travel mostly by bicycle have their standards, mind you.

    Shutter the plants. All of them.  If we are talking post mid 1970's Ford...there is no such thing as a good blue oval.

    • Downvote 1
    Link to comment
    Share on other sites

    On 9/18/2018 at 7:57 PM, dfelt said:

    See the source image

    Is this the Image Tesla wants their CEO to give on doing interviews be it news or podcasts? :nono:

    I bet you didn't watch the podcast, did you? 

    Picture taken and spread by Ford, GM, and FCA or their fanboys. 

    • Upvote 1
    Link to comment
    Share on other sites

    2 hours ago, ccap41 said:

    I bet you didn't watch the podcast, did you? 

    Picture taken and spread by Ford, GM, and FCA or their fanboys. 

    The point being missed is that image is everything and while I live in a state that Weed is legal and I do not care if you want to smoke it, do drugs whatever, your life, welcome to flush it down the drain and do not expect me to support you for your poor choices.

    Point being is if you Google or Bing Musk, this image comes up over and over. Is this the image you want your CEO to be projecting?

    I understand where this image came from in the podcast, but a leader needs to be thinking of the image they project beyond personal choice. He represents $51 Billion investment by the shareholders.

    To me, IMHO, This is a Leadership FAIL of the picture!

    Link to comment
    Share on other sites

    And my point was that picture was taken 100% out of context by people who don't like him or his company. Just like politics, somebody can be slandered with one poor picture taken at an awkward timing. 

    If you watched it, that is absolutely the worst possible picture that could have been taken. He literally took one hit. He didn't just sit back and light it up and look like a jackass. People who wanted him to look bad, made him look bad. 

    • Upvote 2
    Link to comment
    Share on other sites

    34 minutes ago, ccap41 said:

    And my point was that picture was taken 100% out of context by people who don't like him or his company. Just like politics, somebody can be slandered with one poor picture taken at an awkward timing. 

    If you watched it, that is absolutely the worst possible picture that could have been taken. He literally took one hit. He didn't just sit back and light it up and look like a jackass. People who wanted him to look bad, made him look bad. 

    Yes, I understand that, but to my point as the leader of a $51 billion worth company, he has to think about how this can be used to slander him or the company and hold himself to a higher standard. After all he is the CEO and Chairman of the company. The investors expect more from him.

    Link to comment
    Share on other sites

    As opposed to -say- GM or FCA or toyota, 'Tesla' is 'Musk' and visa versa. I suspect a huge portion of the stock price/investment is because of Musk the person. In that vein, I tend to agree with dfelt; portraying an image of composure & professionalism is just 'playing it safe' WRT future investments, which the company so desperately needs. Musk, as it is, is missing a few crucial filters that, for a while, can be played off as 'eccentricity' or perhaps even 'mad genius', but toe the edge too frequently and he courts a turn of good will.

    Link to comment
    Share on other sites

    47 minutes ago, dfelt said:

    Yes, I understand that, but to my point as the leader of a $51 billion worth company, he has to think about how this can be used to slander him or the company and hold himself to a higher standard. After all he is the CEO and Chairman of the company. The investors expect more from him.

    Would the same picture been taken had he drank a beer? Both are legal. 

    Link to comment
    Share on other sites

    3 hours ago, ccap41 said:

    Would the same picture been taken had he drank a beer? Both are legal. 

    Beer is legal in most of the US, though, weed only in a few states (and still not legal federally).    Given the levels of stress he probably deals with running 3 companies and working 150hrs/week I could understand taking something to relax.  I don't know he does it, would think he'd have had a heart attack by now...

    Edited by Cubical-aka-Moltar
    Link to comment
    Share on other sites

    4 hours ago, ccap41 said:

    Would the same picture been taken had he drank a beer? Both are legal. 

    Beer is Legal, Pot is NOT by the federal gov and only a hand full of states have legalized it. The image by parents / investors that they expect is a higher bar for someone in this position.

    48 minutes ago, Cubical-aka-Moltar said:

    Beer is legal in most of the US, though, weed only in a few states (and still not legal federally).    Given the levels of stress he probably deals with running 3 companies and working 150hrs/week I could understand taking something to relax.  I don't know he does it, would think he'd have had a heart attack by now...

    Maybe he is a cyborg. ;) 

    Link to comment
    Share on other sites

    I do remember working at a couple of small companies that had pot at company parties and at one place the CEO had a bong in his office...but that was in Colorado nearly 20 years ago...Colorado is an interesting place...

    Weird factoid, Elon Musk and I have the same birthday, but I'm a year older.  Also same birthday as John Cusack, John Elway..

    Edited by Cubical-aka-Moltar
    Link to comment
    Share on other sites

    6 minutes ago, Cubical-aka-Moltar said:

    I do remember working at a couple of small companies that had pot at company parties and at one place the CEO had a bong in his office...but that was in Colorado nearly 20 years ago...Colorado is an interesting place...

    Weird factoid, Elon Musk and I have the same birthday, but I'm a year older.  Also same birthday as John Cusack, John Elway..

    Ever wonder what the difference is that allowed them to become a millionaire / billionaire compared to what we are? I do wonder how the dice fell to get them where they are. I do ponder what I did different at times. Interesting thinking.

    Link to comment
    Share on other sites

    12 hours ago, dfelt said:

    Ever wonder what the difference is that allowed them to become a millionaire / billionaire compared to what we are? I do wonder how the dice fell to get them where they are. I do ponder what I did different at times. Interesting thinking.

    Motivation, stamina, being a dreamer with a practical side, maybe?  I've never been motivated strictly by money...and I know my physical and mental limits..I burn out from working too many hours...I can't do 60-90hr weeks like I could do when I was younger.. or the kind of single focus obsessive lifestyle I've experienced in PhD life or startups..

    Edited by Cubical-aka-Moltar
    • Thanks 1
    Link to comment
    Share on other sites

    13 hours ago, Cubical-aka-Moltar said:

    Beer is legal in most of the US, though, weed only in a few states (and still not legal federally).    Given the levels of stress he probably deals with running 3 companies and working 150hrs/week I could understand taking something to relax.  I don't know he does it, would think he'd have had a heart attack by now...

    In the interview he said he's only smoked weed a few times. I think he worded it as "almost never". 

    I don't know how he does it either.

    I actually really enjoyed the interview because he really is just an insanely smart guy. You could tell he's a socially awkward person but he's a genius. His companies come about when a genius has money to follow through with their ideas. 

    12 hours ago, dfelt said:

    Beer is Legal, Pot is NOT by the federal gov and only a hand full of states have legalized it. The image by parents / investors that they expect is a higher bar for someone in this position.

    Weed isn't federally legal but it is legal in the state that he was in so I don't see the issue with it. 

    • Haha 1
    • Upvote 1
    Link to comment
    Share on other sites




    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.




  • Similar Content

    • By David
      According to an interview done by Steve Fowler at Auto Express UK, Thierry Bollore the new CEO of Jaguar Land Rover is considering taking Jaguar pure EV to be a Tesla / Polestar competitor and would start with the new Baby Jaguar concept they built. This is a Tesla 3 sized luxury 4 door sedan.


      This comes after so many stories about the Flagship XJ EV being postponed as they focus on ICE auto's. Jaguar has confirmed that due to the success of their i-Pace CUV, they are moving forward with delivery of the XJ EV in 2021.
      Castle Bromwich will be home to all electric auto's that they make including the Road biased Range Rover EV. This comes after sales of the Jaguar XE dropped 28% in 2019. As such, the board with new CEO leadership feels it needs to aggressively move to an all new replacement of the XE with this all electric baby Jaguar.
      Jaguar management is also closely watching Polestar and especially their Polestar 2 EV. 
      The all new MLA EV platform would allow replacements of the E-Pace and F-Pace to be a priority once the XE and XJ are launched.
      Jaguar according to the story is on pace to launch plug-in hybrids of the E & F Pace that will get a facelift along with a move to a Hybrid as a stop gap measure till they are replaced with EVs.
      There are also talks of a smaller electric Jaguar as Jaguar has signed letters of agreement to work with BMW on a electric version of the BMW 1 & 2 series that will go electric and this would bring in a much smaller footprint Jaguar below the XE and i-Pace.
      A big question is that the F-Type sports car while being considered a must by some executives on the Board could fall to the history bin as it only sold 6,000 in the last financial year globally making it the second worst performing auto in their portfolio behind the XJ which will come out next year in the dramatic clean sheet design.
      https://www.autoexpress.co.uk/jaguar/353006/new-baby-electric-jaguar-take-tesla-model-3
    • By Drew Dowdell
      The Tesla Model 3 nearly broke into the top 10 best selling vehicles in Europe for September 2019, missing the mark by just 217 units.  Overall, sales growth in the EU is strong with 14 markets reporting positive numbers.  Germany came in at 9.1 percent and Italy came in at 6.5 percent.  Battery electric vehicles were up sharply, increasing 119 percent, of which Tesla controlled nearly 50% of that number.  Total Tesla registrations were 19,500 out of the 40,700 BEVs registered.  That put the Tesla Model 3 as the best selling BEV in Europe. 
      For September, the Volkwagen Golf was the best selling vehicle in Europe with 32,398 units registered. 
      Tesla shares jumped 18 percent yesterday after a surprise profit for Q3 of $1.86 per share, up from an expected loss of 42 cents per share. 

      View full article
    • By Drew Dowdell
      The Tesla Model 3 nearly broke into the top 10 best selling vehicles in Europe for September 2019, missing the mark by just 217 units.  Overall, sales growth in the EU is strong with 14 markets reporting positive numbers.  Germany came in at 9.1 percent and Italy came in at 6.5 percent.  Battery electric vehicles were up sharply, increasing 119 percent, of which Tesla controlled nearly 50% of that number.  Total Tesla registrations were 19,500 out of the 40,700 BEVs registered.  That put the Tesla Model 3 as the best selling BEV in Europe. 
      For September, the Volkwagen Golf was the best selling vehicle in Europe with 32,398 units registered. 
      Tesla shares jumped 18 percent yesterday after a surprise profit for Q3 of $1.86 per share, up from an expected loss of 42 cents per share. 
    • By Anthony Fongaro
      EV-curious. That’s what I would call myself. Someone that is interested in EVs but just hasn’t found the right one. There are many aspects of an EV that is appealing to me. Instant torque, quick acceleration, the ability to charge at your house or apartment, and the continuation of creating semi-autonomous driving. It’s all so exciting! I’m ready to go out and trade in my 2016 Volkswagen GTI for one now! Or am I? Let’s take a quick look at a small field of electric vehicles, starting with the brand new 2020 Porsche Taycan.
      The release of the 2020 Porsche Taycan is a feat in and of itself. The car itself is downright sexy, is has a handsome interior, and performance that is pure Porsche. Over 700 HP for the Turbo S model is impressive. It also costs what you would expect an electric super-Porsche would be since the range topping Taycans are coming out first. These are the Turbo and Turbo S which cost over $150,000. After these come onto the market, less expensive and less powerful versions will come. Would this be the car that I will buy? Sure, once I get that CMO position at a major company. This is a dream electric car, but not one that I would consider just yet. 
      What about an attainable electric car? There are a few on the market that cover the bases. Vehicles like the Hyundai Kona Electric, Chevy Bolt, Nissan Leaf, and others have good to respectable range, decent features, and are not the most expensive vehicles. Average prices of $40,000-$45,000 is a bit steep, but electric cars usually command a premium over gasoline vehicles. They also have good driving aids such as blind spot monitoring and adaptive cruise control, something that my current car has and is top priority for me. They’re all very good cars but with flaws such as build quality and designs that keep me from considering one. My problem is simple: performance. Electric cars have instant torque at 0 RPM and can be extremely fast. These EVs just don’t cut the mustard for me since they are more about range than blistering speed. For around $45,000, I can get a gas-powered car such as a Genesis G70 3.3T that is faster, has better range, and the safety features I want. Let’s continue from good electric vehicles to “the best”.
      Right now, you are probably thinking: “Anthony, you are forgetting the king of electric vehicles. They are synonymous with electric cars and have a huge cult following.” Guess who that is? Yes, that is of course Tesla. You can’t write about electric cars without talking about Tesla. They are a very S 3 X Y R brand indeed. The Model S introduced expensive but seriously quick electric vehicles. The X brought us an odd but much-needed crossover. The 3 is the bread-and-butter maker with a starting price around $40,000, and acceleration that beats almost all vehicles in its class. The Y hasn’t come out yet but is a crossover version of the 3, and the Roadster is a $250,000 supercar. Even though there are three models currently available, I will focus on the Model 3 Performance since that is the one I am most interested in.
      There is a lot to like about the Model 3 Performance. It has “performance” in its name and with 450 HP, it is one of the quickest sedans I’ve ever driven. The instant torque from the motors is intoxicating and it handles well for a heavy vehicle. Does it tick all the boxes to convert to a Tesla-fanatic? No. Why? The interior. I am not a fan of controlling absolutely everything with a touchscreen and not having my speedometer in front of me.
      The Model 3 Performance can have semi-autonomous driving, but it is a $7,000 option. Tesla’s Autopilot driver-assist system is standard and is regarded to be one of the best, if not the best driver-assist system. Tesla has sold over 250,000 Model 3 vehicles and it is a genuinely amazing feat for a young company. The range is good at over 310 miles. Pricing starts at $55,000 and is fully-loaded around $64,000. If you are okay with the minimal interior and styling, get yourself a Model 3. I personally am not a fan of either of those, so onward we go.
      This brings me to a car I am waiting for: The Polestar 2 fastback. Polestar used to be a sub-division of Volvo, like AMG is to Mercedes-Benz. You can still get Polestar-tune Volvos, but Polestar has branched out into their own brand. The Polestar 2 is their first all-electric car. It has over 250 miles of range, 400 HP, and most import to me, gauges that are straight in front of the driver. The design is bold yet looks like an even more modern version of a Volvo. Since Polestar is a sporty company, the performance upgrades include upgraded shocks, brakes, and bigger wheels with Swedish gold seat belts. You get this package mainly for the gold seat belts. Is it pricey at over $60,000? Yes, but it feels justified for the 408 hp and range of 275 miles. 0-60 is said to be around 4.7 seconds but I suspect it will be lower. Will they sell Tesla Model 3 numbers of them? I highly doubt it since they area new brand, but it should be a great competitor to the Tesla Model 3.
      I like the concept of electric vehicles. I know that one day, there will be one charging at my house. Am I ready for an electric car? Yes. Is there any on the market that jumps out at me and gives me the satisfaction I have for my current car at a reasonable price of around $40,000 new? No.
      Do not get me wrong; there are electric cars that make sense for a multitude of situations. Range and charging are getting better, more features are getting added, and manufacturers are creating electric-only ranges of vehicles that will bring down the costs of more performance-oriented vehicles. I can go in-depth about certain electric cars in a future article. For now, I think I will keep my car and wait until something really catches my eye. That, or wait a few years and hope the Porsche Taycan depreciates enough that I can buy one.
       

      View full article
    • By Anthony Fongaro
      EV-curious. That’s what I would call myself. Someone that is interested in EVs but just hasn’t found the right one. There are many aspects of an EV that is appealing to me. Instant torque, quick acceleration, the ability to charge at your house or apartment, and the continuation of creating semi-autonomous driving. It’s all so exciting! I’m ready to go out and trade in my 2016 Volkswagen GTI for one now! Or am I? Let’s take a quick look at a small field of electric vehicles, starting with the brand new 2020 Porsche Taycan.
      The release of the 2020 Porsche Taycan is a feat in and of itself. The car itself is downright sexy, is has a handsome interior, and performance that is pure Porsche. Over 700 HP for the Turbo S model is impressive. It also costs what you would expect an electric super-Porsche would be since the range topping Taycans are coming out first. These are the Turbo and Turbo S which cost over $150,000. After these come onto the market, less expensive and less powerful versions will come. Would this be the car that I will buy? Sure, once I get that CMO position at a major company. This is a dream electric car, but not one that I would consider just yet. 
      What about an attainable electric car? There are a few on the market that cover the bases. Vehicles like the Hyundai Kona Electric, Chevy Bolt, Nissan Leaf, and others have good to respectable range, decent features, and are not the most expensive vehicles. Average prices of $40,000-$45,000 is a bit steep, but electric cars usually command a premium over gasoline vehicles. They also have good driving aids such as blind spot monitoring and adaptive cruise control, something that my current car has and is top priority for me. They’re all very good cars but with flaws such as build quality and designs that keep me from considering one. My problem is simple: performance. Electric cars have instant torque at 0 RPM and can be extremely fast. These EVs just don’t cut the mustard for me since they are more about range than blistering speed. For around $45,000, I can get a gas-powered car such as a Genesis G70 3.3T that is faster, has better range, and the safety features I want. Let’s continue from good electric vehicles to “the best”.
      Right now, you are probably thinking: “Anthony, you are forgetting the king of electric vehicles. They are synonymous with electric cars and have a huge cult following.” Guess who that is? Yes, that is of course Tesla. You can’t write about electric cars without talking about Tesla. They are a very S 3 X Y R brand indeed. The Model S introduced expensive but seriously quick electric vehicles. The X brought us an odd but much-needed crossover. The 3 is the bread-and-butter maker with a starting price around $40,000, and acceleration that beats almost all vehicles in its class. The Y hasn’t come out yet but is a crossover version of the 3, and the Roadster is a $250,000 supercar. Even though there are three models currently available, I will focus on the Model 3 Performance since that is the one I am most interested in.
      There is a lot to like about the Model 3 Performance. It has “performance” in its name and with 450 HP, it is one of the quickest sedans I’ve ever driven. The instant torque from the motors is intoxicating and it handles well for a heavy vehicle. Does it tick all the boxes to convert to a Tesla-fanatic? No. Why? The interior. I am not a fan of controlling absolutely everything with a touchscreen and not having my speedometer in front of me.
      The Model 3 Performance can have semi-autonomous driving, but it is a $7,000 option. Tesla’s Autopilot driver-assist system is standard and is regarded to be one of the best, if not the best driver-assist system. Tesla has sold over 250,000 Model 3 vehicles and it is a genuinely amazing feat for a young company. The range is good at over 310 miles. Pricing starts at $55,000 and is fully-loaded around $64,000. If you are okay with the minimal interior and styling, get yourself a Model 3. I personally am not a fan of either of those, so onward we go.
      This brings me to a car I am waiting for: The Polestar 2 fastback. Polestar used to be a sub-division of Volvo, like AMG is to Mercedes-Benz. You can still get Polestar-tune Volvos, but Polestar has branched out into their own brand. The Polestar 2 is their first all-electric car. It has over 250 miles of range, 400 HP, and most import to me, gauges that are straight in front of the driver. The design is bold yet looks like an even more modern version of a Volvo. Since Polestar is a sporty company, the performance upgrades include upgraded shocks, brakes, and bigger wheels with Swedish gold seat belts. You get this package mainly for the gold seat belts. Is it pricey at over $60,000? Yes, but it feels justified for the 408 hp and range of 275 miles. 0-60 is said to be around 4.7 seconds but I suspect it will be lower. Will they sell Tesla Model 3 numbers of them? I highly doubt it since they area new brand, but it should be a great competitor to the Tesla Model 3.
      I like the concept of electric vehicles. I know that one day, there will be one charging at my house. Am I ready for an electric car? Yes. Is there any on the market that jumps out at me and gives me the satisfaction I have for my current car at a reasonable price of around $40,000 new? No.
      Do not get me wrong; there are electric cars that make sense for a multitude of situations. Range and charging are getting better, more features are getting added, and manufacturers are creating electric-only ranges of vehicles that will bring down the costs of more performance-oriented vehicles. I can go in-depth about certain electric cars in a future article. For now, I think I will keep my car and wait until something really catches my eye. That, or wait a few years and hope the Porsche Taycan depreciates enough that I can buy one.
       
  • Posts

  • Social Stream

  • Today's Birthdays

    1. Raybob9289
      Raybob9289
      (55 years old)
    2. Z06C6Vette
      Z06C6Vette
      (33 years old)
  • Who's Online (See full list)

    There are no registered users currently online

  • My Clubs

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...