Tag Archive: Scott Pelley


The national Twitter Bull-in-a-China-shop champion may not be the one you suspect.

Would you allow Elon Musk to baby-sit your retirement nest egg?

REUTERS/Rashid Umar Abbasi

Consider the following:

In the last three months, Tesla common shares (NASDAQ: TSLA) are down $69.59 or 19.74 percent.

Tesla confirmed today the Department of Justice (DOJ) is launching a criminal probe into les affaires at Tesla.

Earlier, the Securities Exchange Commission (SEC) announced its own civil investigation following Tesla founder Elon Musk’s August 7 tweet, proclaiming “funding secured” for taking Tesla private. Is Musk guilty of selective disclosure of material information (e.g., “Funding secured) in violation of SEC Reg FD (Fair Disclosure)?

There was also the inexplicable video of Musk smoking dope on television.

Why Elon, why?

Musk charged not once but twice that one of the heroes, saving the Thailand boys’ soccer team from a flooded cave, is a “Pedo guy.”

Nomura Securities downgraded TSLA from “buy” to “neutral,” reducing the company’s price target from $400 to $300, concluding that Tesla shares are “no longer investable.”

“Notwithstanding improving fundamentals, we believe that Tesla is in need of better leadership, an about face, and are moving to the sidelines until we see what happens with management. “ – Nomura Securities analyst Romit Shah

Does Elon Need His Own Mad Dog Mattis?

The best-and-brightest public relations counselors in the world can do absolutely nothing with Elon, if and until he is willing to ponder sage advice for even a nanosecond.

Tesla co-founder and CEO Elon Musk takes a drag from a cigarette laced with
marijuana in this screenshot from the Joe Rogan Experience podcast on
Thursday, Sept. 6, 2018.

Some have suggested shaking up the Tesla Board of Directors to include strong-willed  independent hombres and mujeres willing to practice tough love with Elon (e.g., no public smoking marijuana for whatever reason).

Elon ‘Musk’s brother and board member, Kimbal, is not a candidate for his job. Did you see his CNBC interview this week from the floor of the venerable NYSE wearing a cowboy hat?

Why Kimbal, why?

Besides trying to run both publicly traded Tesla (EVs/solar) and privately held SpaceX (rockets) at the same time and thus needing more sleep, maybe the biggest issue is way too many sycophants kissing Elon’s derriere for way too long.

Remember the gushing CBS 60 Minutes Scott Pelley interview of Elon back in 2014? Musk was hailed at the time as the second coming of … Steve Jobs including  Almost DailyBrett. Your author repeatedly bought and sold Tesla shares for a nice profit, except the last time, selling for a modest loss.

The CNBC pundits were asking out loud circa 2014 whether Tesla was 1.) An electric vehicle company, 2.) an energy company or 3.) Elon Musk’s company?

The issue now is what would happen if a stronger, independent Board of Directors took the helm at Tesla? Would they have the cojones to fire Elon Musk? Would that stunning action be the 21st Century equivalent of John Sculley firing Steve Jobs at Apple? How did that move play out?

Most of all, what would happen to Tesla’s stock? The shorts have already gone crazy; they presumably would have a field day.

Maybe what Elon needs is his own version of a chief operating officer Mad Dog Mattis or some other chain-of-command George S. Patton type to knock off the nonsense?

Until there is some sense of consistent operating discipline (see Tim Cook’s management of Apple following the 2011 passing of Steve Jobs), the shorts will continue to bet against Tesla and its common shares.

Anybody want to “short” Apple? Didn’t think so.

Most of all, Elon Musk should be precluded from even going near Twitter. These 280 characters can lead to a heap of trouble, including twin probes by the DOJ and the SEC.

Audi today unveiled its $75,000 luxury EV SUV. There is considerable competition because electric cars are not going away.

Static photo,
Colour: electric green

Tesla still maintains considerable advantages: Market leadership, pure-play, first mover, visionary company.

Even with its present cash burn and convertible notes coming due next March, Tesla can more than survive and continue to drive technology leadership.

All Tesla needs is for a Mad Dog to put a discipline leash on one, Elon Musk.

https://www.forbes.com/sites/jimcollins/2018/09/05/elon-musks-increasingly-erratic-behavior-comes-at-a-price-for-tesla-shareholders/#1058c7323944

https://www.mercurynews.com/2018/09/11/elon-musks-erratic-behavior-continues-to-rattle-wall-street/

https://www.cnbc.com/2018/09/18/tesla-stock-drops-after-company-reportedly-to-face-us-criminal-probe-over-musk-statements.html

https://www.nytimes.com/2018/08/13/business/dealbook/tesla-elon-musk-saudi-arabia.html

https://almostdailybrett.wordpress.com/2014/04/02/only-in-america/

https://almostdailybrett.wordpress.com/2014/07/18/donate-to-united-way-or-invest-in-tesla/

https://www.cnbc.com/video/2018/09/17/kimbal-musk-says-his-brother-elon-is-doing-great.html

 

“Only in America”

The old joke: “When has it been a bad day?”

“When Mike Wallace (in particular) and the 60 Minutes crew is waiting in the lobby.”

Sometimes having 60 Minutes coming for an extended visit can be great news for a company, and maybe for a nation that could use a kick in the collective pants.

pelley60Minutes

The Scott Pelley story this past Sunday focused on a 42-years young immigrant “engineer” from South Africa, Elon R. Musk, who is playing a huge role in reviving American heavy manufacturing in both automobiles (Tesla) and rockets (SpaceX).

Almost DailyBrett wants to hear, tell and relay more of these stories.

Driving repeatedly up the 880 (e.g.. The Nasty Nimitz) past industrial Fremont, one would cast a sad glance at the shuttered NUMMI plant. At various times, GM and Toyota cars and trucks would be made there until they weren’t any longer.

The negative narrative was that Silicon Valley with its unparalleled collection of gear heads would always be a center of innovation, but manufacturing was just too bloody expensive.

Oh, ya?

Tesla’s 1,000 employees at the recharged NUMMI plant can’t build the fully battery-powered (up to 250 miles on one charge with zero climate change emissions) $100,000 Model S cars fast enough to meet the demand. Overall Tesla (NASDAQ: TSLA) employs nearly 6,000 directly and indirectly results in the hiring of thousands of others in supplier roles, and quite well could be the first successful U.S. automobile start-up in 90 years. And the company is working to developing the technology to build $30,000 non-polluting all-electric cars with acceptable travel ranges.

Heck, Bill O’Reilly called Tesla a global “game changer” that will force all rival automakers to respond.

Earns Tesla Motors

But the story does not start-and-stop there; In fact it goes into the stratosphere and beyond.

Musk also pioneered privately held SpaceX with its 3,000 employees, which received a $1.5 billion NASA influx to deliver cargos via rockets to the agency’s orbiting space stations. SpaceX is developing the first rocket that can be landed right back on the launch pad, and may play the leading role in taking humans to Mars for the first time.

Don’t bet against Musk, Tesla and SpaceX.

We seemingly live in a culture in which no good deed goes unpunished, one in which we despise the 1 percent who have much more than the rest of us, and yet we don’t know them.

For example, Musk came to America … “Only in America” … because of its software prowess, particularly the Silicon Valley. After attaining degrees in physics and business from the University of Pennsylvania, he devised the software that provided on-board navigation for drivers, and made $22 million. He developed the online banking system, called PayPal, which he sold to eBay for $1.5 billion (Musk’s share, $180 million). Modestly, he said that was a “good outcome.”

And then he bet the ranch and his earned nest eggs on both Tesla and SpaceX, and was close to bankruptcy and a nervous breakdown. He had hundreds of electric cars that did not work and three failed rocket launches in succession…a fourth would have been game, set and match.

spacex1

With tears in his eyes, he told the story of how Number Four was the charm, and the NASA and further VC investments saved the day. His reaction was very human, very open-kimono. Maybe there are good people who happen to earn a lot of money?

The rest is history. Entrepreneurs by their very nature have to be prepared to fail. Caca happens more times than not. Musk stared failure and permanent debt right in the eyes…and the other guy just blinked.

As mentioned more than once in Almost DailyBrett, my former boss Wilf Corrigan came to America from Liverpool, England with his new Norwegian bride circa 1960. The initial destination was the wrong side of the tracks in blast-furnace hot, Phoenix, Arizona with barely two shekels to rub together.

In time, he rose to the top spot at Fairchild, lost the company in a hostile takeover bid, formed his own company, LSI Logic, which is now being driven into oblivion by his successor. Wilf succeeded, failed and succeeded again.

Failure is an option in Silicon Valley and America, but so is success…including new businesses, jobs and maybe heavy manufacturing (e.g., electric cars and rockets).

musk

Mounting the proverbial soap box, there are a record 47 million on food stamps and another record 8.9 million on disability, most legit…some not. We need to provide a safety net for those who are in real need…

We also need to not hate, but celebrate, the doers, the achievers, the entrepreneurs. The days of jealousy should be behind us, but you know they are not.

For the public relations industry, we should be unabashed and undaunted in telling the stories of those who dare to fail and ultimately succeed, providing us with great products and the best anti-poverty program on the planet: A good paying private sector job with full benefits.

Thank you Elon Musk and all the others who dare to follow in your footsteps. We can hardly wait to hear and tell the stories about you.

http://www.cbsnews.com/news/tesla-and-spacex-elon-musks-industrial-empire/

http://www.foxnews.com/on-air/oreilly/2014/04/01/bill-oreilly-truth-about-obamacare-and-global-warming

http://www.teslamotors.com/

http://en.wikipedia.org/wiki/Tesla_Factory

http://www.spacex.com/

https://almostdailybrett.wordpress.com/2012/01/16/in-search-of-another-suite-h33-kirkland-house/

https://almostdailybrett.wordpress.com/2014/01/02/farewell-lsi-logic/

https://almostdailybrett.wordpress.com/2012/11/18/makers-and-takers/

 

 

 

 

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