Home› Tug Tavern

Howdy, Stranger!

It looks like you're new here. Sign in or register to get started.

Sign In Register
Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.
Options

Elon Musk is a fraud...

HoustonHuskyHoustonHusky Member Posts: 5,957
First Anniversary First Comment Photogenic 5 Awesomes
in Tug Tavern
The guy has made billions off of the back of govt grants, and is about ready to bankrupt 3 companies while keeping most of the money for himself. Its absolutely nuts. Sad thing is if Hillary is elected she'll probably bail him out at the taxpayers expense...I'd hope Trump wouldn't be dumb enough to do the same (I give it a 50/50 chance...of course he'll probably force Musk to build/move a factory to Detroit or Ohio to claim a win).

And the fact he hid the investigation into the fatal Tesla crashes until after he used Tesla's stock to buy his cousin's SolarCity business should land him in jail...but it won't.

Some background for those who are interested:
http://www.wsj.com/articles/elon-musk-faces-cash-squeeze-at-tesla-solarcity-1472687133 (go through Google, search "Elon Musk Faces Cash Squeeze at Tesla, SolarCity" to get to the article...)

http://www.zerohedge.com/news/2016-09-06/how-elon-musk-used-broken-marketplace-play-us-all
(the part that should piss everybody off...)
Tesla borrowed Venture Capital (VC) money from Elon Musk at VC rates. It borrowed VC money from taxpayers at non-VC rates

Tesla needed $500MM to get started in 2008. The US Government lent $465MM to Tesla at 3% interest under its push for Green Energy. Elon Musk lent the company $38MM at10% interest plus stock options. Here are the profits on those loans:
◦Elon Musk’s $38MM generates profit of $1.4BB, or 3,600% ROR- a VC payout
◦Taxpayers’ $465MM- generates profits of $12MM or 2.6%ROR- not a VC Payout

Taxpayers took VC risk without VC returns. The table is set for Elon to arbitrage the Government’s largesse much more. All in, the US Government committed about $4.9BB to finance Tesla’s operations

And it gets worse from there...
· Share on FacebookShare on Twitter
«1345

Comments

  • Options
    BallSackedBallSacked Member Posts: 3,279
    5 Up Votes First Anniversary Name Dropper First Comment
    You're voting for Trump because he'll be harsher against someone abusing bankruptcy law?

    For fucks sake man.
    · Share on FacebookShare on Twitter
  • Options
    HoustonHuskyHoustonHusky Member Posts: 5,957
    First Anniversary First Comment Photogenic 5 Awesomes
    Reading is hard.

    It has nothing to do with bankruptcy laws...has everything to do with stupid "green energy" loans for otherwise worthless businesses.

    HTHs...

    · Share on FacebookShare on Twitter
  • Options
    BallSackedBallSacked Member Posts: 3,279
    5 Up Votes First Anniversary Name Dropper First Comment
    HoustonHusky said:

    Reading is hard.

    It has nothing to do with bankruptcy laws...has everything to do with stupid "green energy" loans for otherwise worthless businesses.

    HTHs...

    I guess it is hard because you didn't even read the first blob of shit in your own shit post.
    · Share on FacebookShare on Twitter
  • Options
    PurpleJPurpleJ Member, Swaye's Wigwam Posts: 36,637
    First Anniversary 5 Up Votes 5 Awesomes Combo Breaker
    Swaye's Wigwam
    No politician will do the right thing and tell him to fuck off, because it's bad politics.
    · Share on FacebookShare on Twitter
  • Options
    HoustonHuskyHoustonHusky Member Posts: 5,957
    First Anniversary First Comment Photogenic 5 Awesomes
    BallSacked said:

    HoustonHusky said:

    Reading is hard.

    It has nothing to do with bankruptcy laws...has everything to do with stupid "green energy" loans for otherwise worthless businesses.

    HTHs...

    I guess it is hard because you didn't even read the first blob of shit in your own shit post.
    Nope, and yes you are a moron for thinking so.

    Risky investments are risky...that's the entire point of junk bonds/higher interest rates. They pay more because there is a much greater risk of them failing. People loaning Trump money at a 14% interest rate (and getting equity stakes) is not the same as the govt loaning a start-up company money at 3% and getting no equity share.

    · Share on FacebookShare on Twitter
  • Options
    BallSackedBallSacked Member Posts: 3,279
    5 Up Votes First Anniversary Name Dropper First Comment
    HoustonHusky said:

    BallSacked said:

    HoustonHusky said:

    Reading is hard.

    It has nothing to do with bankruptcy laws...has everything to do with stupid "green energy" loans for otherwise worthless businesses.

    HTHs...

    I guess it is hard because you didn't even read the first blob of shit in your own shit post.
    Nope, and yes you are a moron for thinking so.

    Risky investments are risky...that's the entire point of junk bonds/higher interest rates. They pay more because there is a much greater risk of them failing. People loaning Trump money at a 14% interest rate (and getting equity stakes) is not the same as the govt loaning a start-up company money at 3% and getting no equity share.

    Fuck off with the corporate finance lecture tequila.
    · Share on FacebookShare on Twitter
  • Options
    PurpleReignPurpleReign Member Posts: 5,457
    First Comment First Anniversary 5 Up Votes 5 Awesomes
    That said, I really like Elon Musk. He's building a zippy tube!
    · Share on FacebookShare on Twitter
  • Options
    OZONEOZONE Member Posts: 2,510
    5 Up Votes 5 Awesomes First Anniversary Name Dropper
    HoustonHusky said:

    BallSacked said:

    HoustonHusky said:

    Reading is hard.

    It has nothing to do with bankruptcy laws...has everything to do with stupid "green energy" loans for otherwise worthless businesses.

    HTHs...

    I guess it is hard because you didn't even read the first blob of shit in your own shit post.
    Nope, and yes you are a moron for thinking so.

    Risky investments are risky...that's the entire point of junk bonds/higher interest rates. They pay more because there is a much greater risk of them failing. People loaning Trump money at a 14% interest rate (and getting equity stakes) is not the same as the govt loaning a start-up company money at 3% and getting no equity share.

    The gov't does shit like this all the time to influence our economy.

    They wanted more US producers of alternative energy, so they made loans available to help that happen.

    If you disagree with that, that is fine.

    But you act like you don't understand why they loaned him the money. So either you are retarded, or you hope your readers are.
    · Share on FacebookShare on Twitter
  • Options
    ThomasFremontThomasFremont Member Posts: 13,325
    First Anniversary First Comment 5 Up Votes 5 Awesomes
    Elon Musk creates cool shit.
    · Share on FacebookShare on Twitter
  • Options
    OZONEOZONE Member Posts: 2,510
    5 Up Votes 5 Awesomes First Anniversary Name Dropper
    PurpleJ said:

    ThomasFremont said:

    Elon Musk creates cool shit.

    It's too bad he has to steal from people to do so.
    You mean like all of the military contractors creating weapons that the Military doesn't want? Are those military contractors every paying us back?
    · Share on FacebookShare on Twitter
  • Options
    HoustonHuskyHoustonHusky Member Posts: 5,957
    First Anniversary First Comment Photogenic 5 Awesomes
    edited September 2016
    OZONE said:

    HoustonHusky said:

    BallSacked said:

    HoustonHusky said:

    Reading is hard.

    It has nothing to do with bankruptcy laws...has everything to do with stupid "green energy" loans for otherwise worthless businesses.

    HTHs...

    I guess it is hard because you didn't even read the first blob of shit in your own shit post.
    Nope, and yes you are a moron for thinking so.

    Risky investments are risky...that's the entire point of junk bonds/higher interest rates. They pay more because there is a much greater risk of them failing. People loaning Trump money at a 14% interest rate (and getting equity stakes) is not the same as the govt loaning a start-up company money at 3% and getting no equity share.

    The gov't does shit like this all the time to influence our economy.

    They wanted more US producers of alternative energy, so they made loans available to help that happen.

    If you disagree with that, that is fine.

    But you act like you don't understand why they loaned him the money. So either you are retarded, or you hope your readers are.
    The govt doesn't just hand out $150+ billion to private individuals/industries on a daily basis for the heck of it, and the fact you think that is ok is just nuts.

    I love how Liberals think it makes sense for the govt to subsidize $100,000 coal-powered cars.
    · Share on FacebookShare on Twitter
  • Options
    OZONEOZONE Member Posts: 2,510
    5 Up Votes 5 Awesomes First Anniversary Name Dropper
    HoustonHusky said:

    OZONE said:

    HoustonHusky said:

    BallSacked said:

    HoustonHusky said:

    Reading is hard.

    It has nothing to do with bankruptcy laws...has everything to do with stupid "green energy" loans for otherwise worthless businesses.

    HTHs...

    I guess it is hard because you didn't even read the first blob of shit in your own shit post.
    Nope, and yes you are a moron for thinking so.

    Risky investments are risky...that's the entire point of junk bonds/higher interest rates. They pay more because there is a much greater risk of them failing. People loaning Trump money at a 14% interest rate (and getting equity stakes) is not the same as the govt loaning a start-up company money at 3% and getting no equity share.

    The gov't does shit like this all the time to influence our economy.

    They wanted more US producers of alternative energy, so they made loans available to help that happen.

    If you disagree with that, that is fine.

    But you act like you don't understand why they loaned him the money. So either you are retarded, or you hope your readers are.
    The govt doesn't just hand out $150+ billion to private individuals/industries on a daily basis for the heck of it, and the fact you think that is ok is just nuts.

    I love how Liberals think it makes sense for the govt to subsidize $100,000 coal-powered cars.
    I love how Conservatives think it makes sense for the govt to subsidize $100,000,000 fighter jets that don't work and that the Military didn't want.
    · Share on FacebookShare on Twitter
  • Options
    BallSackedBallSacked Member Posts: 3,279
    5 Up Votes First Anniversary Name Dropper First Comment
    HoustonHusky said:

    OZONE said:

    HoustonHusky said:

    BallSacked said:

    HoustonHusky said:

    Reading is hard.

    It has nothing to do with bankruptcy laws...has everything to do with stupid "green energy" loans for otherwise worthless businesses.

    HTHs...

    I guess it is hard because you didn't even read the first blob of shit in your own shit post.
    Nope, and yes you are a moron for thinking so.

    Risky investments are risky...that's the entire point of junk bonds/higher interest rates. They pay more because there is a much greater risk of them failing. People loaning Trump money at a 14% interest rate (and getting equity stakes) is not the same as the govt loaning a start-up company money at 3% and getting no equity share.

    The gov't does shit like this all the time to influence our economy.

    They wanted more US producers of alternative energy, so they made loans available to help that happen.

    If you disagree with that, that is fine.

    But you act like you don't understand why they loaned him the money. So either you are retarded, or you hope your readers are.
    The govt doesn't just hand out $150+ billion to private individuals/industries on a daily basis for the heck of it, and the fact you think that is ok is just nuts.

    I love how Liberals think it makes sense for the govt to subsidize $100,000 coal-powered cars.
    They do for the oil & gas industry. You're cool with that though, obv.

    · Share on FacebookShare on Twitter
  • Options
    PurpleJPurpleJ Member, Swaye's Wigwam Posts: 36,637
    First Anniversary 5 Up Votes 5 Awesomes Combo Breaker
    Swaye's Wigwam
    And Freeme is voting for Gary Johnson.

    "lol"
    · Share on FacebookShare on Twitter
  • Options
    OZONEOZONE Member Posts: 2,510
    5 Up Votes 5 Awesomes First Anniversary Name Dropper
    PurpleJ said:

    OZONE said:

    PurpleJ said:

    ThomasFremont said:

    Elon Musk creates cool shit.

    It's too bad he has to steal from people to do so.
    You mean like all of the military contractors creating weapons that the Military doesn't want? Are those military contractors every paying us back?
    Changing the subject already?

    I expect nothing less from a mental midget.
    The subject is stealing from taxpayers.

    That is what the military contractors and their shills in congress are doing.

    Where is your outrage?

    I guess I shouldn't expect any from a hypocrite.
    · Share on FacebookShare on Twitter
  • Options
    HoustonHuskyHoustonHusky Member Posts: 5,957
    First Anniversary First Comment Photogenic 5 Awesomes
    edited September 2016
    BallSacked said:

    HoustonHusky said:

    OZONE said:

    HoustonHusky said:

    BallSacked said:

    HoustonHusky said:

    Reading is hard.

    It has nothing to do with bankruptcy laws...has everything to do with stupid "green energy" loans for otherwise worthless businesses.

    HTHs...

    I guess it is hard because you didn't even read the first blob of shit in your own shit post.
    Nope, and yes you are a moron for thinking so.

    Risky investments are risky...that's the entire point of junk bonds/higher interest rates. They pay more because there is a much greater risk of them failing. People loaning Trump money at a 14% interest rate (and getting equity stakes) is not the same as the govt loaning a start-up company money at 3% and getting no equity share.

    The gov't does shit like this all the time to influence our economy.

    They wanted more US producers of alternative energy, so they made loans available to help that happen.

    If you disagree with that, that is fine.

    But you act like you don't understand why they loaned him the money. So either you are retarded, or you hope your readers are.
    The govt doesn't just hand out $150+ billion to private individuals/industries on a daily basis for the heck of it, and the fact you think that is ok is just nuts.

    I love how Liberals think it makes sense for the govt to subsidize $100,000 coal-powered cars.
    They do for the oil & gas industry. You're cool with that though, obv.

    More proof you are pretty clueless. The largest of those credits is for producing "nonconventional" (i.e. green) fuels that they also mandate.

    And yes, its FS. Especially the fact that we burn 40% of our corn crops as fuel.
    · Share on FacebookShare on Twitter
Sign In or Register to comment.