Author Topic: TSLA - Tesla Motors  (Read 949633 times)

A Dhandho Investor

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Re: TSLA - Tesla Motors
« Reply #4030 on: August 09, 2020, 10:55:00 PM »
Including this one here for the history records: http://www.creditbubblestocks.com/2020/08/tesla-accounting-fraud.html

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If you are incompetent at manufacturing and have to scrap a lot of parts, you can prevent or delay any financial statement impact of this by keeping the parts on the books as inventory even if you have already thrown them away. It is very simple, comically so, and it makes your gross margin and profit figures look better. The only problem is it is a crime!

[So, if you were a Silicon Valley company doing this, you would need to provide illegal sex and drugs to accounting firm employees, SEC employees, and journalists. One good time to do this and get them on tape for blackmail would be an "anything goes" festival in the desert, where you could have "boom boom tents". It might also help to learn that trade from a master.]

Based on emails that have come out in the Tesla and Martin Tripp litigation (he was a whistleblower whose phone Tesla bugged, and they tried to assassinate him), Tesla distinguished between "physically" scrapping and "virtually" scrapping parts.

In an email from Michael Bowling to Chris Lister and Jens Peter Clausen, Michael Bowling wrote to "request permission" to write off an inventory inaccuracy. He said that "during the inventory we realized 1718 modules in WIP that have already been scrapped physically [were] never scrapped virtually." In the email below, it said that for the week of April 2, 2018, scrap for the Model 3 was $1,920 per car!

It is strange that "permission" would be needed to do this. If a subordinate tells you that an asset on your balance sheet does not exist, you either write it off or you are a fraud. But Jens Peter Clausen wrote, "We properly want to go deep this quarter?" And Adithya Vijayakumar wrote that Mike was "working with the finance team to get the buy off on scrapping the modules for the second quarter."

That makes it sound like actual ground truth is not the final arbiter of what appears in Tesla financial statements.

This is not the first time there have been Tesla cost accounting irregularities. Remember that the government indicted someone in Tesla's accounts payable department for impersonating employees of one Tesla vendor (Hota Industrial Manufacturing of Taiwan) in order to substitute their payment information with the payment information of a different vendor, Schwabische Huttenwerke Automotive GmbH (SHW).


Dalal.Holdings

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Re: TSLA - Tesla Motors
« Reply #4031 on: August 10, 2020, 03:37:53 PM »
Including this one here for the history records: http://www.creditbubblestocks.com/2020/08/tesla-accounting-fraud.html

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Based on emails that have come out in the Tesla and Martin Tripp litigation (he was a whistleblower whose phone Tesla bugged, and they tried to assassinate him), Tesla distinguished between "physically" scrapping and "virtually" scrapping parts.

Oh, boy... ::)

arcube

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Re: TSLA - Tesla Motors
« Reply #4032 on: August 10, 2020, 06:30:40 PM »
Latest fiction novel. ; )

Including this one here for the history records: http://www.creditbubblestocks.com/2020/08/tesla-accounting-fraud.html

Quote
Based on emails that have come out in the Tesla and Martin Tripp litigation (he was a whistleblower whose phone Tesla bugged, and they tried to assassinate him), Tesla distinguished between "physically" scrapping and "virtually" scrapping parts.

Oh, boy... ::)

A Dhandho Investor

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Re: TSLA - Tesla Motors
« Reply #4033 on: August 10, 2020, 10:42:46 PM »
I thought you guys would dunk on the Burning Man - Epstein thesis, seems I got it wrong.

It might come as a surprise to you, but it's not because you can "discredit" a tiny part of a story that the message as such is less correct.

-> Dhandho out again

rkbabang

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Re: TSLA - Tesla Motors
« Reply #4034 on: August 11, 2020, 05:21:58 AM »
I thought you guys would dunk on the Burning Man - Epstein thesis, seems I got it wrong.

It might come as a surprise to you, but it's not because you can "discredit" a tiny part of a story that the message as such is less correct.

-> Dhandho out again


There is being wrong about something and then there is thinking that Elon Musk is trying to assassinate you.  It's like saying: "Sure he's a flat earther, but that doesn't mean he isn't right about everything else."


« Last Edit: August 11, 2020, 06:29:30 AM by rkbabang »

arcube

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Re: TSLA - Tesla Motors
« Reply #4035 on: August 11, 2020, 07:20:07 AM »
GM CFO just jumped ship. She is joining a real tech company Pre IPO. I donít think we will hear much about senior management moves on this one.

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General Motors Co. Chief Financial Officer Dhivya Suryadevara will leave the company, and be succeeded on an interim basis by GM executive John Stapleton, GM said.

Ms. Suryadevara is leaving GM for an external opportunity outside of the automotive industry, GM said Tuesday. She became the companyís CFO in 2018 after serving in a variety of executive roles at GM and GM Asset Management.

Mr. Stapleton, who will become acting CFO on Saturday, has been the CFO of GM North America since 2014. He has worked for the Detroit-based car maker since 1990.


Spekulatius

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Re: TSLA - Tesla Motors
« Reply #4036 on: August 11, 2020, 07:24:16 AM »
I thought you guys would dunk on the Burning Man - Epstein thesis, seems I got it wrong.

It might come as a surprise to you, but it's not because you can "discredit" a tiny part of a story that the message as such is less correct.

-> Dhandho out again


There is being wrong about something and then there is thinking that Elon Musk is trying to assassinate you.  It's like saying: "Sure he's a flat earther, but that doesn't mean he isn't right about everything else."




TSLA attracts more nutty people than any other stock I am aware off on both the long and the short side.

We value guys just canít compete. The closest we got was the BH ( Biglari)  board, but it canít hold a candle to Tesla.
Life is too short for cheap beer and wine.

Liberty

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gary17

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Re: TSLA - Tesla Motors
« Reply #4038 on: August 11, 2020, 08:56:12 AM »
this reminds me of a discussion with you a few days ago about estimate vs reality LOL

Dalal.Holdings

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Re: TSLA - Tesla Motors
« Reply #4039 on: August 11, 2020, 11:10:28 AM »
GM CFO just jumped ship. She is joining a real tech company Pre IPO. I donít think we will hear much about senior management moves on this one.

Wow. Did she hear about the Cadillac LYRIQ doe ? All the kids are talking about it...