Neither company has yet become fully profitable, and the share prices for both companies trended downward in today’s trading. This week, Musk and other SolarCity executives reported that they purchased tens of millions of dollars worth of bonds issued by the company – a move that CNBC said stirred concerns among some industry observers.Read more "Feds approve $2.6 billion Tesla-SolarCity merger, but stock market says ‘meh’"
In short, SolarCity shareholders know what they’re getting with this merger — an unexpected bailout. Tesla shareholders are not so fortunate, and SolarCity’s bad balance sheet may be the least of what they have to deal with.Read more "Are Tesla Investors Getting A Raw Deal In SolarCity Merger?"
Elon Musk’s purchase of $65 million of SolarCity debt is highly unusual and does not send a good signal to investors, says a corporate governance scholar.Read more "Elon Musk’s, Rives’ SolarCity bond purchases are ‘very odd’"
SolarCity will soon have fewer employees to carry out chairman Elon Musk’s clean-energy dreams for the California solar installer. SolarCity cofounders Lyndon and Peter Rive this week announced a “realignment” that will involve laying off an unspecified number of workers by the end of this year, according to an Aug. 17 regulatory filing.
Read more "SolarCity to Lay off Hundreds of Workers"
Author: Edward Niedermeyer Source: AFR Elon Musk’s second “master plan” for Tesla Motors arrived much like one of the electric automaker’s cars: brilliant and inspiring, but late and rough around the edges. And like Tesla’s desirable yet quality-challenged cars, Musk’s vision is sure to be embraced and evangelised by anyone who was already convinced that […]Read more "Elon Musk’s Tesla plans are all futuristic promise with no product"
Author: Kevin Mooney Source: Daily Signal Grassroots conservative activists who run a reboot of Ronald Reagan’s political action committee want to know why the government allows one failing company to buy another failing company while both get taxpayer subsidies. They also want to know why corporate executives with friends in high places have not been subjected to […]Read more "‘Quintessential Insider Deal’: Taxpayers Finance Family Ties of 2 Failing Green Companies"