$TSLA
- Thread starter Phill Twist
- Start date
Tesla workers
As a result of having to suspend production, Tesla is to cut all of its salaried workers' pay, and furlough its hourly workers. The reductions will be in place until the end of the quarter, but Tesla hopes to resume Californian production on May 4. Tesla already stopped using contract workers last week. Bloomberg
As a result of having to suspend production, Tesla is to cut all of its salaried workers' pay, and furlough its hourly workers. The reductions will be in place until the end of the quarter, but Tesla hopes to resume Californian production on May 4. Tesla already stopped using contract workers last week. Bloomberg
So you thought Tesla doesn't have dealerships?:
"Carvana takes on inventory to sell in the first 2 months of the next quarter when Tesla isn’t producing cars. Tesla gets to maximize its cash on hand and minimize inventory levels for the end of quarter financials. Nothing nefarious but still hilarious since Carvana is effectively acting as a dealership."
"I'm not sure on the title transfer, but Tesla has historically been pretty bad at filing that kind of paperwork before and we've seen it crop up time and time again around the end of the quarter so that would be my first guess personally. As for the premium, it's to compensate Carvana for taking on the risk of holding inventory for sale and whatever overhead they take on for transporting and storing the cars in the meantime. It's basically your standard wholesaler/dealership model here which is the funniest part of all this. Carvana is basically making money off of Tesla's inability to constantly produce and sell cars in the US throughout the quarter."
reddit.com/r/RealTesla/comments/fymtat/twitter_tesla_transfers_cars_at_the_end_of_the/
Channel stuffing is also happens to be illegal:
"
http://www.mololamken.com/news-knowledge-30.html
No federal law specifically criminalizes channel-stuffing, and there may be legitimate reasons for a company to achieve sales during an earlier period. But where a company provides excess supply to create a misleading impression about its sales or financial health, the practice is fraudulent and a form of improper revenue recognition.
Such conduct can be prosecuted under any number of statutes, including statutes that criminalize mail fraud, wire fraud, and accounting fraud. If the company is public, a prosecutor can also bring charges for securities fraud, which criminalizes deceptive practices – such as making false, public statements about the company’s finances – that affect the public’s investment decisions. A company engaging in channel-stuffing may also be subject to private shareholder actions for violation of the securities laws. The SEC may also bring civil enforcement actions."
How about Carvana? :
"Their largest shareholder went to jail for fraud, so, ya, and his son is the CEO."
"Carvana takes on inventory to sell in the first 2 months of the next quarter when Tesla isn’t producing cars. Tesla gets to maximize its cash on hand and minimize inventory levels for the end of quarter financials. Nothing nefarious but still hilarious since Carvana is effectively acting as a dealership."
"I'm not sure on the title transfer, but Tesla has historically been pretty bad at filing that kind of paperwork before and we've seen it crop up time and time again around the end of the quarter so that would be my first guess personally. As for the premium, it's to compensate Carvana for taking on the risk of holding inventory for sale and whatever overhead they take on for transporting and storing the cars in the meantime. It's basically your standard wholesaler/dealership model here which is the funniest part of all this. Carvana is basically making money off of Tesla's inability to constantly produce and sell cars in the US throughout the quarter."
reddit.com/r/RealTesla/comments/fymtat/twitter_tesla_transfers_cars_at_the_end_of_the/
Channel stuffing is also happens to be illegal:
"
http://www.mololamken.com/news-knowledge-30.html
No federal law specifically criminalizes channel-stuffing, and there may be legitimate reasons for a company to achieve sales during an earlier period. But where a company provides excess supply to create a misleading impression about its sales or financial health, the practice is fraudulent and a form of improper revenue recognition.
Such conduct can be prosecuted under any number of statutes, including statutes that criminalize mail fraud, wire fraud, and accounting fraud. If the company is public, a prosecutor can also bring charges for securities fraud, which criminalizes deceptive practices – such as making false, public statements about the company’s finances – that affect the public’s investment decisions. A company engaging in channel-stuffing may also be subject to private shareholder actions for violation of the securities laws. The SEC may also bring civil enforcement actions."
How about Carvana? :
"Their largest shareholder went to jail for fraud, so, ya, and his son is the CEO."
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The gas prices are low as a result of the Coronavirus. As soon as that is resolved, travel will resume and prices to rise again.
6-8 weeks ago, prices were as low as $1.07 in my area (Dallas / Ft Worth). Now they have risen to $1.89. But the most important value trait to owning a Tesla, as far as it concerns me, is that you are not dependent on Big Oil or OPEC. You still need an electrical outlet, but you don't have to be exploited by politicians or the oil cartel.