Yikes! Tesla is asking suppliers to REFUND PAYMENTS.

Tesla shares drop on report that it asked suppliers for refunds

Shares of Tesla Inc fell more than 4 percent in trading before the bell on Monday, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit.

Tesla has asked some suppliers to refund money paid by the electric car maker since 2016, the Wall Street Journal reported here on Sunday citing a memo.

The memo, which the paper said was sent by a global supply manager, described the request as essential to Tesla's continued operation and characterized it as an investment in the car company to continue the long-term growth between both players.

Ho. Lee. Crap!!!


Tesla must be having a severe cash crisis. As in, searching the couch cushions for loose change severe. I don't remember General Motors or Chrysler doing anything this drastic in the run-up to their bankruptcy filings.

It would certainly explain why Elon Musk has seemingly gone completely off the rails lately, with Tweets that would even make Trump say "Whoa! Hold on a minute, there."

But why? And more importantly, is this an effort before a potential bankruptcy? I hope not, I actually like the Tesla concept and its potential.

a reply to: AndyFromMichigan

The Tesla cool aid will only last so long.
Musk is a con man.
Apple is next.
A grand for a phone...ugh


nypost.com...

a reply to: AndyFromMichigan

Boy, talk about manipulating the market!!

Ask suppliers to refund accounts payable payments so you can show a profit to your stockholders????? REALLY????

WOW!!

ETA...How is this even legal??? I mean, why not go start a Go Fund Me account? (not really, but just sayin')

originally posted by: Bluntone22
Apple is next.
A grand for a phone...ugh

Doubtful, I was at the mall Saturday and the line was out the door at the Apple store. I highly doubt they are going anywhere anytime soon.

ETA: And they are more than just iPhones.

originally posted by: AugustusMasonicus

originally posted by: Bluntone22
Apple is next.
A grand for a phone...ugh

Doubtful, I was at the mall Saturday and the line was out the door at the Apple store. I highly doubt they are going anywhere anytime soon.

ETA: And they are more than just iPhones.

Give it time. After the global crash coming within eight to twelve months, Apple is going down, despite current perceptions.

a reply to: AugustusMasonicus


Its coming.
Starbucks is already feeling it.

originally posted by: UnBreakable
Give it time. After the global crash coming within eight to twelve months, Apple is going down, despite current perceptions.

I'll bookmark this so when 12 months rolls around and people are still lined up for the iPhone 50 we can chat about it.

originally posted by: Bluntone22
Its coming.
Starbucks is already feeling it.

Starbucks doesn't sell a host of highly desirable electronic devices with a cult-like following.

a reply to: AugustusMasonicus

I'm actually pretty surprised Apple has survived as long as they have.

If it wasn't for the counter-culture in this country (and others) Apple wouldn't have a competitive leg to stand on. People buy Apple to be different, to be part of the Apple culture. Their products are not that superior, and LINUX (et.al.) must be putting a serious hurt on both them and MS.

Apple is good at graphics and that's about it. They don't play at all in a server environment, which pretty much cuts out half or more of their potential market.

originally posted by: Flyingclaydisk
If it wasn't for the counter-culture in this country (and others) Apple wouldn't have a competitive leg to stand on.

But it exists, therefore they do. They serve a huge market, it's undeniable.

originally posted by: AugustusMasonicus

originally posted by: UnBreakable
Give it time. After the global crash coming within eight to twelve months, Apple is going down, despite current perceptions.

I'll bookmark this so when 12 months rolls around and people are still lined up for the iPhone 50 we can chat about it.

Hope you’re right.

housing inventory is going up as well, the problem is people have to much debt and no savings

I take that back foreclusers is only increasing in specific markets, oops

a reply to: AugustusMasonicus

Apple will be around for a long time.
But their cell phone prices will have to drop to stay competitive.
The first iPhones were the best thing around but today they are not really cutting edge.

originally posted by: UnBreakable
Hope you’re right.

I work for the NSA, I'm more right than Siri.

a reply to: AugustusMasonicus

Oh, no doubt...right now, but I think we're going to see that change. Just like people are starting to wake up (finally) to the ruse of the college 'paper-mill for profit' thing, there will come a time when it's no longer so 'cool' to be an Apple person.

The "cloud" probably saved Apple's bacon over the past 4 years and even that's a ruse (as we now see). They would have been totally flat footed once the consolidated compute environment took hold. And now we're headed right back into the 60's and 70's with very mainframe like environments (with new, cooler, names), full circle.

ETA...Apple's got nothing to compete against that environment with.

originally posted by: Bluntone22
Apple will be around for a long time.
But their cell phone prices will have to drop to stay competitive.
The first iPhones were the best thing around but today they are not really cutting edge.

Competitively pricing your product is a long way from possible bankruptcy a la the Original Post's speculation about Telsa, which, in my opinion, is mostly smoke and mirrors.

originally posted by: Flyingclaydisk
a reply to: AndyFromMichigan

Boy, talk about manipulating the market!!

Ask suppliers to refund accounts payable payments so you can show a profit to your stockholders????? REALLY????

WOW!!

ETA...How is this even legal??? I mean, why not go start a Go Fund Me account? (not really, but just sayin')

Now that you mention it, yeah that seems like it would run afoul of all sorts of laws governing corporate finance.

originally posted by: Flyingclaydisk
...there will come a time when it's no longer so 'cool' to be an Apple person.

Maybe, but it certainly isn't on the horizon.

originally posted by: Bluntone22
a reply to: AugustusMasonicus

Apple will be around for a long time.
But their cell phone prices will have to drop to stay competitive.
The first iPhones were the best thing around but today they are not really cutting edge.

This is their problem. They are no longer cutting edge. The new phones aren't really compelling over older phones. The tech is offer diminishing returns for upgrading. Even Samsung has this problem.

I have a s7 edge and it works great. The new so or whatever doesn't really y make a leap tech or feature wide to make my existing phone obsolete.