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While adoption of electric vehicles is picking up around the world, industry pioneer Tesla is facing a critical juncture and has started what CEO Elon Musk has characterized as a "thorough reorganization" of the company.
Shares fell 3 percent on Monday in a mixed market.
What's putting the most pressure on the carmaker?
Tesla is losing top talent at a time when good morale is needed to help the company meet its aggressive Model 3 production goals.
Over the past seven months, at least nine employees at the senior management level or higher have left Tesla, and one is taking a leave of absence.
The list includes:
Tesla is dealing with four separate federal investigations into crashes involving its electric vehicles. The investigations are to evaluate whether Tesla's battery technology or Autopilot systems may have caused these collisions.
Its relationship with regulators has eroded in recent months. In April, the National Transportation Safety Board "revoked" Tesla's status as a party to its investigation of a fatal crash involving a Model X with Autopilot engaged.
More recently, the National Highway Traffic Safety Administration contradicted Tesla's claims. Tesla previously said that the NHTSA found its Autopilot technology reduced crashes significantly, but the agency said later that its regulators never actually tested the system's effectiveness.
Tesla is showing signs of financial distress.
The automaker ended 2017 with $3.4 billion in available cash and $9.4 billion in outstanding debt. That debt will come due as Tesla needs more capital to increase Model 3 production and start work on new products, including an updated Roadster, a new Model Y vehicle and the Semi.
On its first-quarter earnings call, CEO Elon Musk said, "Tesla does not require an equity or debt raise this year, apart from standard credit lines."
But financial columnist Jim Collins recently noted the company is taking some steps that are unusual for companies with strong finances, including creating a special-purpose entity for certain debt and collateralizing its Fremont factory.
Also, Moody's downgraded Tesla's credit ratings recently, changing its outlook to negative from stable, citing "significant shortfall" in the Model 3 production rate and a tight financial situation.
Efficient, high-volume production of the Model 3 has remained elusive for Tesla. The Model 3 is Tesla's first electric vehicle aimed at the mainstream driver. And in many ways, the company's future depends on its success.
Tesla had aimed to make 2,500 Model 3 sedans a week by the end of the first quarter but missed that goal. It now promises to hit 5,000 a week by the end of the second quarter — a rate it earlier said it would achieve in 2017.
Worker safety issues in its factories, troubles perfecting its factory automation and strained relationships with suppliers, including Panasonic, are not making it an easier task.
HERE
IS A QUICK CAPSULE OF THE FACTS THAT TESLA MOTORS AND ELON
MUSK WILL DO ANYTHING (EVEN THE MOST HORRIBLE THINGS YOU CAN
IMAGINE) TO COVER UP. ALL OF THESE FACTS CAN BE PROVEN, WITH
VOLUMINOUS EVIDENCE AND WITNESSES, IN A JURY TRIAL OR A
PUBLIC CONGRESSIONAL HEARING:
Lithium ion batteries: Cause wars in the Congo, Afghanistan
and Bolivia from the corrupt mining deals involved with
mining lithium and cobalt; are insider trading-owned by
ex-CIA boss Woolsey and DOE Boss Chu; excrete
chemicals that mutate fetuses when they burn; destroy your
brain, lungs and nervous system when they burn; kill the
factory workers who make them; cause Panasonic to be one of
the most corrupt companies in the world; poison the Earth
when disposed of; can't be extinguished by firemen; poison
firemen when they burn; are based on criminally corrupt
mining schemes like URANIUM ONE; Have over 61 toxic
chemicals in them; come from an industry that spends
billions on internet shills and trolls used to nay say all
other forms of energy; are insider-trading owned by corrupt
U.S. Senators who are running a SAFETY COVER-UP about their
dangers. Apple products with lithium ion batteries have been
exploding and setting people on fire; over time the chemical
dendrites inside each battery grow worse and increase the
chances of explosion as they age - LITHIUM ION BATTERIES
BECOME MORE AND MORE LIKELY TO EXPLODE AS TIME GOES ON AND
AS THEY AGE; "Bad Guys" have figured out how to make them
explode remotely; have their dangers hidden by CNN and MSM
because pretty much only the DNC people profit from them;
are the heart of Elon Musk's stock market scam. The Obama
Administration promised Silicon Valley oligarchs the market
monopoly on lithium ion batteries and the sabotage of fuel
cells in exchange for campaign financing and search engine
rigging; United States Senators that are supposed to protect
us from these deadly products own the stock market assets of
them so they protect them and stop the FDA, OSHA, DOT &
NHTSA from outlawing them. WRITE YOUR ELECTED REPRESENTATIVE
AND DEMAND THAT LITHIUM ION BATTERIES BE MADE ILLEGAL TO
SELL! NiCAD and Hundreds of other battery chemistries DO NOT
have all of these problems but Lithium Ion batteries get a
monopoly because of politician insider trading ownerships. A
recent fire on U.S. Highway 101 near Mountain View, CA,
burned the driver alive and killed him. In Florida two kids
died in a Tesla, burned alive, screaming in agony. A man
died in agony in a Tesla crash in Malibu that set Malibu
Canyon on fire. A young woman, at the start of life, and her
boyfriend were burned alive in their crashed Tesla. There
are many more deaths and crashes than you have heard about.
The deaths and the cover-ups are endless. Senators Dianne
Feinstein, Harry Reid, Nancy Pelosi, Kamala Harris and their
associates own the stock in Tesla Motors and/or it's
suppliers and mining companies and they cover-up and halt
investigations and laws designed to save the public. They,
and their crony's, spend over $1B a year to shill and troll
hype about lithium ion batteries and cover-up the dangers.
Lithium ion EVs are more prone to battery fires. Experts say
that their lithium-ion batteries can fuel hotter fires that
release toxic fumes and are more difficult to put out.
Lithium ion fires keep reigniting which explains why it
takes so long and requires copious amounts of water or foam
(it is an electric fire, after all) to smother the flames.
Tesla employee Bernard Tse and his team warned Elon Musk
about these dangers in 2008 and they got fired and/or warned
to "say nothing" by Musk. Three top Tesla engineers died in
a plane crash next to Tesla offices in San Carlos after two
of them agreed to become whistle-blowers.
Elon Musk exists because he bribed DNC politicians and
Senators Feinstein, Reid, Boxer, Harris, Clinton and Pelosi
to give him free taxpayer cash and government resources from
the Dept. of Energy and the Calif treasury. DOE has been
covering-up organized crime activities at DOE in which DOE
funds are being used as a slush-fund to pay off DNC campaign
financiers and to pay for CIA/GPS Fusion-Class attacks on
Silicon Valley business competitors of those DNC campaign
financiers who DOE staff share stock market holdings with.
Elon Musk is a criminal, a mobster, an asshole, a bald
fake-hair wearing, plastic surgery-addicted, douchebag,
woman-abusing, sex addicted, tax evader. Musk exploits poor
people and child slaves in the Congo and Afghanistan to mine
his lithium and Cobalt. Musk spends billions per year to
hire Russian trolls, fake blogger fan-boys and buy fake news
self-aggrandizement articles about himself. Musk thinks he
is the 'Jesus' of Silicon Valley. Fake News manipulator
Google is run by Larry Page and Larry is Musk's investor and
bromance butt buddy. Musk uses massive numbers of shell
companies and trust funds to self-deal, evade the law and
hide his bribes and stock market insider trading. A huge
number of Tesla drivers have been killed; pedestrians and
oncoming drivers have also been killed, and Musk covers it
up. The DNC and the MSM refuse to allow any articles about
Musk's crimes to be printed because they benefit from Musk's
crimes. Musk has been professionally diagnosed as a
'psychotic narcissist.'A 'Silicon Valley Mafia; cartel of
frat boy sociopath venture capitalists like Steve Jurvetson,
Tim Draper, Eric Schmidt, et al; threaten those who do not
support the cult of Tesla or their political candidates. In
EVERY blog that you read that mentions 'Musk', at least 1/3
of the comments have been placed their by Musk's paid
shills. Musk holds the record for getting sued for fraud by
his investors, wives, former partners, employees, suppliers
and co-founders. Elon Musk has gone out of his way to hire
hundreds of ex-CIA staff and assign them to "dirty tricks
teams" to attack his competitors and elected officials who
Musk hates. Musk never founded his companies. Musk's
"Starlink" satellites are domestic spy and political
manipulation tools - never get your internet from one. Musk
stole Tesla in a hostile ownership take-over from Marty the
true inventor of the Tesla. The same kind of EMF radiation
proven to cause cancer from cell phones exists in massive
amounts in a Tesla. Musk can't fix a car or build a rocket
and has almost no mechanical skills. If you pull a report of
every VIN# of every Tesla ever built and cross reference
that with insurance, repair and lawsuit records you will
find that the "per volume" fire, crash, death and defect
rate is THE WORST of any car maker in history! Musk is a
lying con artist and partners with Goldman Sachs to rig the
stock market. Sachs has a dedicated team of 18 men who rig
stocks and valuation bumps for Musk. Over 1000 witnesses can
prove every one of those claims in any live televised
Congressional hearing! Senators Dianne Feinstein, Harry
Reid, Nancy Pelosi, Kamala Harris and their associates own
the stock in Tesla Motors and/or it's suppliers and mining
companies. That is why they criminally help cover-up
investigations of Tesla! All of this was reported, in
writing, to James Comey, Patricia Rich and David Johnson at
the FBI.
The DNC bosses own the stock in lithium, Solar and EV
markets and use kickbacks from those markets (Especially via
convoluted campaign finance laundering via Elon Musk) to
finance the DNC. The DNC bosses use character assassination
as their main political tool against any member of the
public who speaks out against their felony stock market
scams and PizzaGate-like scandals. The Harvey Weinstein
reports by Ronan Farrow show that they have teams of hired
goons that they pay to destroy people's lives. They use
Black Cube, Mossad, In-Q-Tel, Stratfor, Gawker Media,
Gizmodo Media, Media Matters, David Brock, Sid Blumenthal,
NY Times, Google servers, Facebook servers, Podesta Group,
Perkins Coie, Covington & Burling and a host of
"assassins". It should be a felony to hire character
assassins in the USA. DEMAND A LAW and DEMAND the
termination of these attack services. IE: Gawker and Gizmodo
Media sets-up the attack stories and, in paid partnership
with Google, Google kicks their attack links around the
globe, in front of 8 Billion people, forever. Google locks
the attack articles of its enemies on the front top search
results of Google search results forever, on purpose! That
is why Google is being terminated in the largest, most well
resourced anti-corruption public service take-down in
history!
