Tuesday, December 02, 2008

Tesla v. Tesla

Nikola Tesla versus Tesla Motors that is.

The sordid details of Tesla Motors hat in hand is at the NYTimes.
The company is requesting $400 million in low-interest federal loans as part of the $25 billion loan package for the auto industry passed by Congress last year.
The program is intended to encourage automakers to improve fuel efficiency, but should it be used for a purpose like this, as the 2008 Bailout of Very, Very High-Net-Worth Individuals Who Invested in Tesla Motors Act? Can you conceive any way that federal dollars could be put at greater risk — and for no equity in return, keep in mind — to benefit fewer people?
I just imagine their namesake rolling in his grave at the idea of becoming a vassal of the government.

35 comments:

w said...

I bet Tesla investors read CR and EN and are simply submitting for the bailout money as a joke. I would like to be first to congradulate them.

Mike said...

OT: River Park: Once a bad joke, now becoming a bad neighborhood. Imagine being one of those who was on the waiting list for their high end homes back in 2006.

http://www.venturacountystar.com/news/2008/dec/02/lining-up-for-affordable-housing-a-chance-for-a/

Rob Dawg said...

Mike,
I'm working on a post right now. Mrs. Dawg was asking this morning what had me so pissed off. It was that article.

Lab Dog™ said...

Sara the walrus plays jazz.

wagga said...

This is a shocking turn in current events. Hope the gummint resists the impulse & breaks this bailout circuit. Submit them to a battery of questions, then throw them on the buss. Watt on earth are they thinking?

Signed, Joules.

Rob Dawg said...

Wagga,
Are you vying for a pun award? You win.
Shock
Current
Resists
Impulse
Breaks
Circuit
Battery
Buss
Earth

Did I miss any?

Property Flopper said...

You missed "Watt".

Peripheral Visionary said...

I just keep wondering who the Tesla Girls are.

Northern Renter said...

Dawg,
You also missed "Joules".

NR

w said...

Mike & Rob,

Good find on the article about Riverpark. There is an amazing amount of comments from Star readers.

Just a thought, a lot of people are complaining that "greedy" landlords are raising the rent. I expect with recent investment practices and cap rates there is a lot more "desperation" than "greed" driving rental prices.

A relative rents a one room apartment in a supposedly nice part of Ventura. They raised the rent from $1100 to $1300 this year. Interestingly the owners bought the building a few years ago during the housing mania. The place has a real problem with drug dealers living there and the police are constantly being called. Anyway, the whole rental housing debacle is heading our way and I expect a lot of bumps in the road as owners try and raise rates and maintenence is deferred.

Mike said...

> Rob Dawg said...

Mike,
I'm working on a post right now. Mrs. Dawg was asking this morning what had me so pissed off. It was that article.


Ah c'mon, where is it. I was looking forward to a good rant.

I read this comment on the VCS website
When all that area is underwater after a huge storm we will have a whole new discussion on River Park. How apropos a name....River/Park.

Freakin funny. I think that one should stick. From now on it is River/Park. Lucky for the new homeowners, we had a dry year. At least they get one good year in there fancy new cardboard homes.

Rob Dawg said...

Mike, while waiting I suggest you type riverpark into the search box for fun going back to 2005.

You are correct. Floods are a certainty.

w said...

I do not remember the 300 acres of berries that used to be at Riverpark ever going under water. Also, the lemons across the river to the north have been there for ~25 years I would guess. Although the counties aerial photos in the 70's show the river there before the lemons were planted. A customer of mine is risking disaster having removed half of the lemons and putting strawberries there to the north of the river and Riverpark.

Who knows, I imagine in a real rainy year it wouldn't take much for the berries to go under water, but I assume there is pretty good protection for Riverpark.

Mike said...

Who knows, I imagine in a real rainy year it wouldn't take much for the berries to go under water, but I assume there is pretty good protection for Riverpark.

I am sure that the home builders first priority was the well being of the homeowners ;P And please, River/park

Lost Cause said...

Thomas A. Edison spent much of his career destroying the reputation of Nikola Tesla. He invented the electric chair, to demonstrate the danger of alternating current, Tesla's system that competed against Edison's direct current.

Akubi said...

Tesla can shove it up his ass.
Thanks bye just like saying that.

wagga said...

Remember the flood of '92? The RVs swimming downriver beating against the bridge until they fit through?

And the sheriff walking through a foot of water to get to a building so that he could buckle the women into the harness so that the chopper could lift them out?

The Tesla thing is still revolting.

Jean ValJean said...

You know, if Tesla wants to steal stuff, they should at least do it honestly, like the NY Daily News.

w said...

Puke!

Blatent theft from taxpayers. I didn't realize how this was subsidized until it was mentioned here the other day. How is this legal?

Lex said...

Think a Tesla will be featured in Back to the Future VIII 25 years from now?

It is too bad John Z. isn't around today -- he could give Rick Wagoner a few words of advice re gov't bailouts.

Mr. Outspoken said...

w, what are you so grouchy about?

City Manager Mike Sedell called it a "win-win situation."

As we have all learned the best thing about a win-win situation is that everybody wins!

Peripheral Visionary said...

Mr. Outpoken is right, this is a "win-win situation". Developers get to unload their condos thanks to Federal money, salesmen with easily hidden income get a condo on the cheap, parents of students get a condo for their kids on the cheap by having the kids fill out the application, and speculators who lied on their income get to turn a fast profit by sub-leasing their unit for more than their (subsidized) payment. Everybody wins!

Sun said...

Indeed, one of my favorite scenes from the Wizard of OZ...

Why build a whole box and shop to hide behind, when a shabby curtain will do? If the wind blows occasionally, just remember this "Pay no attention to that man behind the curtain"

Akubi said...

Has anyone managed to decode Keynes' sexual diaries? I'm sure we'll find the answer to this mess between C and W.

For those of us who haven't, we can look forward to alien beer.

Property Flopper said...

Hey - at least one scammer off the streets (only a few million more to go...)

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/12/04/state/n090952S86.DTL&tsp=1

Son of Brock Landers said...

Was not tesla motors on 60 mins this fall mocking Detroit for its inability to make electric cars for a profit?

Dawg, did you see the NYT article today talking about how Obama's Iraq withdrawal talk is being shelved for the reality on the ground?

Mr. Outspoken said...

Obama will not actually withdraw from the war in Iraq? Should I pretend I couldn't see that coming? The guy was never serious or direct about it. He didn't fight particularly hard in the Senate about it. I don't feel betrayed. None of the "serious" candidates offered any significant changes except for McCain, who would have invaded Iran.

Jean ValJean said...

You want change? 533,000 jobs lost in November

w said...

I think I'll send an IOU to the State of California come income tax time. It will be fully transferable of course.

Sun said...

...Was not tesla motors on 60 mins this fall mocking Detroit for its inability to make electric cars for a profit?.....

I remember that episode, and thought the same thing. I remember the very Casey-like, it's all good, I've got it all figured out swager, of one of the founders they interviewed.

All I saw was thumbs up! we've got tons of cash and too many clients! Thumbs up! everything is all good!

So are they low on cash, or is the "pesky" moral hazard associated with free money / sweet subsidies kicking in?

Nick from Canada said...

Hey guys and gals, guess who's coming to Canada. None other than Rich Dad himself. Can't wait for the scaminar when I bring up KC and ole' Robert Kiosaki's past. :o

Sun said...

"Troubled home loans set another record in September"

Sweet cash back at close is now causing some sweet records to be broken! It's one of those win-win situations that never gets its due recognition!

Akubi said...

Friday fun.

Sun said...

"guess who's coming to Canada. None other than Rich Dad himself."

hmmm...American clients running a little low on cash (faith)? How can that be with his rock-solid financial wisdom?

If he calls you a looser, or laughs condescendingly, just remember, he's not laughing with you, he's laughing at....er yeah, he's laughing with you

Nick from Canada said...

I'll bring in a secret hidden camera and post the vid for the LOLZ