3/20/2025

28 Responses to “Nothing to See Here: Commerce Secretary Urging Americans To Buy Tesla Stock”

1. Hello.

   Dana (0f86db) — 3/20/2025 @ 2:56 pm

   
   

2. The american people have a different view of what to do with tesla. Just get rid of trumpsters on the jury for cause and have jury nullification. When AOC becomes president she can pardon them anyway.

   asset (ac0a90) — 3/20/2025 @ 3:04 pm

   
   

3. This doesn’t surprise me in the slightest. Why should the most corrupt administration in history see any problem with administration officials publically pushing people to buy stock belonging to the President’s friends?

   It’s not like they have any fiduciary duty to the American people, after all.

   aphrael (4b5942) — 3/20/2025 @ 3:09 pm

   
   

4. It’s by design. The more authority figures ignore the rules, the less everyday people will notice or care. It erodes trust in the law and any desire to comply. Start with small rules and the big ones will be much easier to ignore.

   DRJ (a84ee2) — 3/20/2025 @ 3:21 pm

   
   

5. It’s the same as repeating lies over and over. Little lies erode trust in the truth so big lies go unnoticed.

   DRJ (a84ee2) — 3/20/2025 @ 3:22 pm

   
   

6. The goal is to cause chaos.

   DRJ (a84ee2) — 3/20/2025 @ 3:26 pm

   
   

7. I don’t think the goal is _chaos_; i think the goal is undermining the rule of law to the point that they’ll be able to just stay in power indefinitely, because any institution which might stand against that has atrophied, and the public is so used to their lawbreaking that they just *shrug* and move on.

   i honestly believed that as a people we were immune to this. i am horrified and depressed to discover that i was wrong.

   aphrael (4b5942) — 3/20/2025 @ 3:36 pm

   
   

8. No amount shilling by Trump or Lutnick can put lipstick on the Tesla pig.

   ………
   Shares of the electric-vehicle maker have rallied over the last couple of days, but the stock has been in a mostly downward spiral since hitting a record high in mid-December. Most of that damage has come since President Trump’s inauguration on Jan. 20—the stock lost 38% of its value between then and last week’s close, even before the bruising selloff on Monday [when Tesla’s stock fell by nearly 5% to $238.01 while the NASDAQ was up.31%.] The final bill currently stands around $742 billion in lost market cap since the stock’s peak.

   No other major carmaker has fared nearly as badly, even with the prospect of global tariffs that could curb sales across the industry. …….
   ……….
   By Wednesday’s close, Tesla’s stock was trading for 89 times this year’s projected earnings. That is more than double the multiple of the highest valued tech giants that command market caps over $1 trillion. It is also more than triple the multiple that Nvidia now commands, even though Wall Street expects the artificial-intelligence-chip titan to boost revenue by 57% this year compared with 15% revenue growth expected at Tesla, according to consensus analyst estimates on FactSet.

   Even that 15% growth is no slam dunk; UBS analyst Joseph Spak cut his 2025 delivery target for Tesla earlier this week and now sees the company’s revenue falling 4% this year, citing internal research indicating “softer demand.”
   ……..

   And:

   Tesla is recalling more than 46,000 Cybertrucks over the potential for an exterior panel to fall off.

   The National Highway Traffic Safety Administration said a cosmetic appliqué along the exterior of the vehicles, known as the cant rail, can delaminate and detach from the vehicle, which the agency said could create a road hazard for motorists. The cant rail is a long piece of metal trim over the left and right side windows.
   ………
   The flaw involves glue that can become brittle in certain environments, the recall said. Fixing it requires Tesla to use a different adhesive and reinforce the rail with a stud welded to the stainless panel and a nut clamping the panel to the vehicle structure.
   ………
   The company has also issued recalls for parts including the accelerator pedal, which could become loose and trap the pedal, and its drive inverter, which could lose power and put drivers at risk of a crash. It was able to address some of its recalls with over-the-air updates to its software.
   ………

   Rip Murdock (d2a2a8) — 3/20/2025 @ 3:48 pm

   
   

9. It’s meant for chaos, at least on the surface, but it’s intentional distraction from the real damage he is plotting. This is why I am so concerned that Trump may somehow get control/sway/influence over the judicial system. If he does, all bets are off.

   Dana (a4bfe9) — 3/20/2025 @ 3:50 pm

   
   

10. I feel that the most I can do in pushing back on this is to continually post about the corruption that is taking place before us. It won’t change anything, but at least I will know that I spoke up. None of us knows where this is going to end and what the country will look like in four years. However, if we take what we’re seeing now to its logical conclusion, it won’t resemble at all the country we’ve known and loved our whole lives. And that’s a frightening thought, indeed.

    Dana (a4bfe9) — 3/20/2025 @ 3:58 pm

    
    

11. Rip Murdock (d2a2a8) — 3/20/2025 @ 3:48 pm

    But wait, there’s more:

    ……….
    Something funky is going on with Tesla’s books, at least according to a new report released by the Financial Times on Wednesday. That’s never a phrase you want to hear about a publicly traded company, especially one with a tanking stock price and a board whose members are dumping shares at an alarming rate.

    According to the report, Tesla spent $6.3 billion in capital expenditures in the last six months of 2024. However, the gross value of its assets only increased by $4.9 billion—that leaves $1.4 billion unaccounted for with no public explanation from Tesla about where that money went. All said and done, accounting and finance experts agree: something isn’t adding up.

    …….(H)ere’s what Financial Times has to say:

    As Tesla’s car sales and share price plummet in response to Elon Musk’s political and physical stances, we would like to draw readers’ attention to something puzzling in the group’s accounts.

    Compare Tesla’s capital expenditure in the last six months of 2024 to its valuation of the assets that money was spent on, and $1.4bn appears to have gone astray.

    The sum is big enough to matter even at Tesla, and comes at a moment when attention is returning to the group’s underlying numbers, now that its fully diluted stock market valuation has crashed from $1.7tn to below $800bn.

    ………
    ……… Tesla spent a bunch of money on new buildings, equipment, and other large investments that added up to around $6.3 billion in just over six months. Normally, when a company spends money on things like factories and machines (investments), asset values rise by about the same amount. Tesla’s balance sheet only reported an asset increase of $4.9 billion, leading to that $1.4 billion gap.
    ………
    These types of gaps can happen. Normally it’s an asset sell-off, depreciation, or admission of a bad deal (akin to admitting that a factory or equipment just isn’t worth as much as anticipated). But in Tesla’s case, the automaker didn’t report any major sales or losses that explain the missing money. And just in case you thought Tesla’s position as a global company could explain it—this isn’t a case of foreign exchange fluctuation either.

    The concern here is that if Tesla is intentionally categorizing expenses in a misleading way, it could make its profits look better than they actually are. That’s the kind of thing that gets investors nervous and regulators up in arms.
    ……….

    I’m sure the new Trump SEC will get right on the case.

    Rip Murdock (d2a2a8) — 3/20/2025 @ 4:08 pm

    
    

12. The first order corruption is Lutnick owns nearly a million shares of Tesla which has cost him hundreds of millions of dollars as Tesla has lost it’s value.

    Colonel Klink (ret) (96f56a) — 3/20/2025 @ 4:19 pm

    
    

13. > However, if we take what we’re seeing now to its logical conclusion, it won’t resemble at all the country we’ve known and loved our whole lives.

    And there does not appear to be *anything* which can prevent it from going to its logical conclusion.

    I’m not complaining about your posts, Dana — I think they are *good* — i’m expressing despair.

    aphrael (4b5942) — 3/20/2025 @ 4:21 pm

    
    

14. The odd thing is that Lutnick is urging Americans to buy a downspiraling stock, thus bolstering Elon’s declining net worth, but he didn’t pitch Americans to actually buy Tesla cars (or that weird truck).

    Paul Montagu (f93fe0) — 3/20/2025 @ 4:55 pm

    
    

15. Lutnick’s comments appear to a violation of 5 CFR § 2635.702 – Use of public office for private gain:

    An employee may not use their public office for their own private gain; for the endorsement of any product, service, or enterprise (except as otherwise permitted by this part or other applicable law or regulation); or for the private gain of friends, relatives, or persons with whom the employee is affiliated in a nongovernmental capacity………The specific prohibitions set forth in paragraphs (a) through (d) of this section apply this general standard, but are not intended to be exclusive or to limit the application of this section.

    (a) Inducement or coercion of benefits.
    ……….
    (b) Appearance of governmental sanction.

    Except as otherwise provided in this part, employees may not use or permit the use of their Government position or title, or any authority associated with their public office, in a manner that could reasonably be construed to imply that their agency or the Government sanctions or endorses their personal activities or those of another…….

    (c) Endorsements.

    Employees may not use or permit the use of their Government position or title or any authority associated with their public office to endorse any product, service, or enterprise …….
    ……..
    (d) Performance of official duties affecting a private interest.
    ……….

    Rip Murdock (d2a2a8) — 3/20/2025 @ 5:06 pm

    
    

16. Lutnick and Musk looking chummy.

    Rip Murdock (d2a2a8) — 3/20/2025 @ 5:11 pm

    
    

17. Congresscritter derrick van orten said he was afraid to show up at his town hall because of the jews! (DU)

    asset (cacd4f) — 3/20/2025 @ 10:27 pm

    
    

18. Trump and netanhayu to hold talks on war with Iran. Reuters, times of Israel NYT.

    asset (cacd4f) — 3/21/2025 @ 2:18 am

    
    

19. It is problematic.

    Government should bend over backwards from advocating a “winner” over other US companies.

    whembly (b7cc46) — 3/21/2025 @ 6:50 am

    
    

20. *should NOT bend over backwards…

    Jeez… I miss the edit button…

    Need more caffiene

    whembly (b7cc46) — 3/21/2025 @ 6:52 am

    
    

21. https://hotair.com/david-strom/2025/03/21/the-conspiracy-to-take-down-tesla-is-vast-and-nasty-n3800997

    C9nsidering the leftist Brownshirts are engaging in paid for, organized attacks I can’t get worked up about this.

    Tell the leftist stormtroopers to stand down and we can talk. If not, prosecute them and their money men to the fullest extent of the law.

    NJRob (88bc89) — 3/21/2025 @ 9:34 am

    
    

22. @21 there is nothing to talk about. Jury nullification.

    asset (c06a63) — 3/21/2025 @ 3:53 pm

    
    

23. Asset, you’re admitting you’re pro-terrorism. Speaks volumes.

    NJRob (88bc89) — 3/21/2025 @ 4:32 pm

    
    

24. @23 See: 51 weekend open thread.

    asset (b89db6) — 3/21/2025 @ 10:08 pm

    
    

25. apparel,

    I think many people on both political sides see the law as too complex and unfair. The introduction of chaos makes the law look even more useless. That is how the law is undermined, because it looks helpless.

    There is some truth to this. Not every problem should require a law firm and years in court (and attorneys fees) to resolve. Not every law should require lawyers to dissect and explain it to competent adults, if they even can agree.

    This has been developing since the 1950s and 1960s (IMO with the advent of the zealous advocate standard, replacing the wise counselor standard). Lawyers have too much influence in government and society because we have laws that are too complex and overbroad. Trump is a reaction to that and he is using chaos to demonstrate it.

    DRJ (a84ee2) — 3/22/2025 @ 10:24 am

    
    

26. We see this in medicine, too, which is why there is so much chaos in that area now.

    DRJ (a84ee2) — 3/22/2025 @ 10:26 am

    
    

27. Why did autocorrect change your nand to apparel? I know spelled it right.

    DRJ (a84ee2) — 3/22/2025 @ 10:31 am

    
    

28. In a way, there are parallels between civil right movements and MAGA movements. Both groups want government to stop using/making rules that prefer one group over another. Both want the rules to change, and that causes tension in the legal system.

    DRJ (a84ee2) — 3/22/2025 @ 10:36 am