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Tesla and SolarCity Merger Gets Approval From Shareholders (cnbc.com)
An anonymous reader quotes a report from CNBC: Shareholders for SolarCity and Tesla voted Thursday to approve merging the two companies. "Tesla's shareholders have overwhelmingly approved our acquisition of SolarCity," said a statement from Tesla sent to CNBC. "Excluding the votes of Elon and other affiliated shareholders, more than 85% of shares voted were cast in favor of the acquisition. With SolarCity's shareholders also having approved the acquisition, the transaction will be completed in the coming days." The deal has divided investor and analyst opinion. Some Tesla shareholders have filed lawsuits against the deal, and critics have called it a bailout for SolarCity. Chairman Elon Musk, who holds about 22 percent of SolarCity stock and 22 percent of Tesla's, has recused himself from both votes, as have other insiders such as director Antonio Gracias and J.B. Straubel. Gracias, the founder of Valor Equity Partners, sits on both companies' boards, and Straubel was part of Tesla's founding team and serves as its chief technical officer, according to company filings. The merger comes as the solar energy business is showing signs of a slowdown.
The synergy makes sense. I like the roof idea.
Greed is the root of all evil.
I'm sure they've been in the back merging for a while now. Of course some guy named Gracias is sitting on both company's "boards".
If we didn't believe Musk knew what he was doing, we'd simply sell.
A no vote would equate to a vote of no-confidence for stock which is largely driven by speculation. As of this exact moment, neither Tesla nor SolarCity are super-profitable or dominant in their industries. But we're hoping it gets big. Why would we tank stock we own?
The recommended action (which was right above the ballot) was to vote yes. Duh, it's their idea in the first place. And most people won't rock the boat.
And business-wise, it DOES kinda make sense. The two are related. Kinda. There's not a great reason why they couldn't be two different companies though.
The downside is that this might be an example of Musk having one of his companies eat and absorb the losses of one of his failures which he doesn't REALLY want to admit is a failure. I dunno, I'm too busy to really dig into it. I know I probably couldn't find anything meaningful if I did go digging. And I don't have all that much money in there.
So, Tesla and Solar City join to form Tesla City.
Then in a bizarre twist, Tesla City merges with the relatively unknown Spatula Designs, to form Spatula City!
Do not look into laser with remaining eye.
Mr. Musk didn't vote.
Had you actually read any of this stuff u would have realized that most of 'subsidies' that musk company gets, are actually to customers, or were state subsidies, I.e. they only impact ppl in those states.
I prefer the "u" in honour as it seems to be missing these days.
Welcome to the US, you must be new here. Unfortunately subsidies are the norm these days for larger businesses, this happens at both the local, state and national level. For example when a couple manufactures moved into a city near me a decade ago they basically got a pass on their property taxes as part of the agreement for quite a few years, then when the agreement ended they both threatened to scale back operations if they didn't get a partial extension. Fossil fuels get tens of billions of dollars in subsidies each year. Trump built his fortune by suckling on grants/subsidies to the tune of $885 Million and counting. I'm all for tossing them in a wood-chipper, but only if ALL of them go at the same time.
What this means is they will be able to kind of survive if their carbon offset goes away under Trump.
Non sequitur: Your facts are uncoordinated.
What this allows is for Tesla to sell branded home solar energy systems. So buy the Tesla 1000 or pay extra for the Tesla X10000, depending on how much energy you need. You need a branded system so that you can incorporate that in the sales data when you want to sell the property so that it will add value to the property. So say a Tesla 2500M with so many hours of operation has a value of .... This to promotes sales ie add value to your property with a Tesla E5000 system with all of it shared branded model and components, solar panels, inverter, batteries, control electronics, car charger, all installed by an accredited contractor. Tesla can also group negotiate better sales rate for their system putting electricity back into the grid and as part of that leased system. Rather than buy a Tesla system, you can lease it and pay for it by buying electricity and Tesla could also sell surplus electricity back into the grid,a distributive energy generation system (this for medium and high density dwellings).
There are going to be a whole range of systems of varying styles and capacity (output and storage capacity). Merger made total sense and likely will put Tesla in the to be bought market by an existing major electronics player (the marketing head start Tesla is getting will be extremely difficult to claw back for competitors).
Chaos - everything, everywhere, everywhen
If the subsidies were not a competitive advantage, Tesla would refuse them.
Other automakers can have the same kinds of subsidies if they sell the same kinds of cars. It's not a handout to Tesla, it's a handout to anyone who wants to sell EVs. It's not Tesla's fault that nobody else can make an EV as good as theirs, in spite of being multi-billion-dollar-revenue automakers which make literally millions of vehicles every year.
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
Mi doesn't bother with facts.
It's easier for him to spew his BS that way.
The guy who said the election was rigged won the presidency with the second-most votes.
why would they? Most of them are for the customers so Tesla has NO SAY. In addition, most of them are also offered to competitors. So, to say no, would make it noncompetitive.
I prefer the "u" in honour as it seems to be missing these days.
Most of that is true, but some is not.
LIHEAP is NOT about the utilities, but about home owners who still have inefficient HVAC. That needs to be stopped and instead, pour the money into UPGRADING the home.
I prefer the "u" in honour as it seems to be missing these days.