It’s unclear whether a shareholder resolution on compensation will make it onto the agenda for Tesla’s May 16 annual meeting. The company announced the timing of the event on page 57 of its 60-page 10-Q filing in October and set a Dec. 22 deadline for submitting resolutions.
There may be few other shareholder proposals this year, after investors had eight to vote on in 2022. Tulipshare, a UK-based activist investing platform for retail traders, planned to file a say-on-pay measure for Musk’s compensation to be linked to environmental, social and governance metrics, but was among several shareholders that missed Tesla’s disclosure 10 weeks ago.
“As the new owner of one of the largest social media networks globally, Musk has absolutely no excuse for this move,” said Antoine Argouges, Tulipshare’s founder and CEO. “Instead, Tesla chose to do the bare minimum.”
Good 'ol Antoine is not thinking correctly. The fact that Musk owns of Twitter has no bearing on what ESG actions Tesla should take. If his efforts result in a resolution submission, I hope/expect it gets killed.
Rob
He is no fool who gives what he cannot keep to gain what he cannot lose.
Now it is becoming clearer: This writer, Dana Hull, has a good explanation to fill in some blanks. She’s a writer for Bloomberg and I have seen her bylines before, so, I know she’s a follower of EVs, Tesla, Musk, etc…
Hiding the Annual Shareholder Meeting date in the very fine print last quarter was the move up date for the Annual Meeting so that if you did not notice it, you would have thought you had more time for shareholders to file proxies.
One thing she definitely right: shareholders of long time are p.o.ed on Twitter. I wish I had this info earlier this week so as to re-enter $TSLQ. **
Apple didn’t invent the smartphone, and Tesla didn’t invent the electric car, but each has followed their chief executives’ idiosyncratic visions to come from behind and become integral parts of their respective markets.
Today, while in the waiting room at the blood lab, I surfed on my phone. I saw an impressive video of people in China cued up at a Tesla dealership AFTER discounts were called out this week. Very long lines. So, maybe Musk is giving it one last shot for a comeback; otherwise, hand the keys to the Shanghai factory to the CCP.
But with these compressed margins, yeah, I lower my expectations for growing profit.
Part of Tesla’s decline is due to local competition within China. Companies such as BYD, a domestic automaker and the country’s top EV brand, have been gaining market share. In December, BYD sales nearly doubled compared with the year prior, and they were up 2 percent from November, according to data from China’s Passenger Car Association cited in the Times. And while the government has promoted EV adoption among the populace, it has recently slashed subsidies that incentivized Chinese buyers to purchase a new EV. That has made carmakers, including Tesla, have to cut prices to compensate for the lack of state-backed stipend.
The worry is that these trends could hurt Tesla more broadly, not just in China. The company’s worsening performance in the country has affected its overall share price, which has fell sharply in the past year (with a decline of about 3 percent during Thursday trading). And with BYD and other Chinese car makers moving into the European market, Tesla could start to lose ground there as well.
It’s not all bad news, at least: In 2022, Tesla’s sales in China rose almost 50 percent overall. Still, that might not be enough to help the company overcome its more recent backslide. In addition to fewer sales, Tesla has also slashed prices for the models made at its Shanghai plant, and wait times for vehicles have shifted from months to as little as a week.
Still waiting to find a definitive article to tell us about the anger, frustrations, and bitterness of longtime $TSLA longs on Twitter. It’s everywhere. I’ve seen suicide hotline numbers posted in some threads - and not jokingly.
Also, the fact Musk has angered so many Liberals who are trading in their Teslas for other EV manufacturers, some writer needs to pick up on that, and probably has. It’s nuts on Twitter, barren Twiiter, so many great people no longer there. Twitter is whiffing at the plate. But the Liberals who are “woke” to Musk, yeah, they ain’t ever coming back.
Meanwhile, #TeslaChina trending because of wild scenes like this. Next time I go long $TSLA for a trade (might be next week) it will be because this is the only encouraging thing I’ve seen tweeted about $TSLA all day.
So here’s some good news if you are actually a suffering long on this stock, but all these discounts means compressed margins.
This is why Liberals are hopping mad and selling their Teslas on Twitter. What other company has a CEO this reckless? Musk is killing two brands - Twitter AND Tesla - with stupid tweets like this. Musk has to know Trump has told redhats to vote for McCarthy. What’s his end game? Sell Twitter to the morons behind $DWAC?
Elon Musk is wading into politics—and letting his thoughts be known. The billionaire Tesla, SpaceX, and Twitter CEO indicated in November that he would support Florida Gov. Ron DeSantis for president, and today he threw his weight behind GOP lawmaker Kevin McCarthy as House speaker. That follows him urging his more than 110 million Twitter followers to vote Republican in the midterms a day before voters went to the polls.
This week, McCarthy has failed repeatedly in his bid to become House speaker, with right-flank conservatives led by the Freedom Caucus refusing to vote for him. (The last time a speaker candidate didn’t win the first vote was 100 years ago.) Incoming lawmakers cannot be sworn in until the position is filled. President Joe Biden called the political chaos on Capitol Hill “embarrassing,” while House Democrats shared images of popcorn while likening the GOP drama to a big-screen spectacle.
Musk tweeted today, “Kevin McCarthy should be Speaker.”
Over on the Fool TSLA board… there is none of what you describe:
Nobody cares about the cutoff date for submitting resolutions.
It seems unclear as to whether the price cuts will hurt Tesla because they’ll be selling much higher volumes…at lower costs. As for me, I’m waiting for an update from James Stephenson, who does highly detailed cost analysis… although he’ll have the best update after the Q4 numbers come out. ONE THING FOR SURE: The other EV manufacturers will BLEED big time in any price war, whereas Tesla may/may not see a drop in earnings.
**PLUS: Anyone who thought price cuts were never coming… didn’t understand how competition works.
Rob
He is no fool who gives what he cannot keep to gain what he cannot lose.
Oooofta! Fun at the $TSLA protests which are now turning physical. It looks like they are erecting padded barriers to save Elon’s store windows from these angry Tesla buyers.
I just noticed, this second, that now $TSLAQ is taking to youtube?
This is going to be a week of comedy, both longs and shorts, will be fighting for their views on Twitter. Brings out the best links.
I’m using the audio portion of these screaming Chinese cops and protesters in this last video in the beginning of this heavenly piece of trance right now in my headphones. It works! Incredible find.
I may have found a way for Chinese youth to leave protest messages in song by remixing the song with Chinese voices of protest? File that and use it in 2023, Rock:
Rob, that Tesla board is worthless to me. So many of those people posting over there are Musk cultists. Probably have Tesla Tramp Stamps Over The Cracks of the Their Asses, spooky, scary, timesucking idiots.
I blocked about a half-dozen of them off the METAR board because they are joyless humans giving all to Tesla through Musk worship. Creeper weird.
Meanwhile, something else I am investigating and will act upon in any $TSLA trade this week, long or short.
Rob, I’m one of the most tame on Twitter. Twitter is like MMA in the Octagon.
My fave fights are the empty heads like that weasel who took a PPP loan for his investment services business, Gerber Kawasai?
He got the loan posing as a seller of motorcycles. Never paid it back. Used it for what, class, class, Bueller?
**Yes, to buy more $TSLA stock.
Sorry. Had a moment. I’m now back to my orginal irreverent self.
Before I was milquetoast Moody Blues with Graham Edge doing his poetry thing on “Knights of White Satin” and man, does that suck when you’re puking your guts up.
Today, I worked 3 hours of yardwork with my sawzall. Now I am back to the Rock in the Stones “Rocks Off.” Except the sunlight doesn’t bore the daylights out of me.
Be sure to put your headphones on and pick out your next car buy, Homeslice!
Live dangerously, crank this up, in that travel van. (By the way, how’s that thing holding up?)
p.s. The coolest guy in this video is the guy dancing in traffic, washing windshields. I feel like dancing in traffic with him. In a heartbeat, I’ll do that once I’m back to fighting form.
The 'ol van is doing well. Need to fix the side sliding screen. We only take it on really long trips, using the Teslas for everything else.
Most of my day today was: saturday morning guy’s bible study, my daily walk, going to two b-ball games featuring our grandsons, watching nfl tonight. Tomorrow, several a.m. church activities and nfl again in the p.m.
Rob
He is no fool who gives what he cannot keep to gain what he cannot lose.
