Tuesday, August 7, 2012

Why Did Elon Go To Vegas?





I just got news that Elon Musk is in Las Vegas and is meeting with Harry Reid, Ken Salazar, and Bill Clinton. Harry Reid but Not Ever Right was happy to post on his official government web site that Elon was one of the “visionaries” that would come to Vegas to attend Harry’s Clean Energy Summit.

http://www.reid.senate.gov/newsroom/pr_073112_clean-energy-summit-5.cfm


I quote from Dr. Reid’s link.

“Las Vegas, NV — On Tuesday, August 7, 2012, “National Clean Energy Summit 5.0: The Power of Choice” returns to Las Vegas at Bellagio Hotel & Resort for the nation’s foremost conversation about clean energy options. As a passionate advocate for energy alternatives, Former President Bill Clinton will give a keynote address during the summit about the importance of taking action and utilizing the power of choice when it comes to clean energy.



The annual conference is hosted by Senate Majority Leader Harry Reid (D-NV), MGM Resorts International, theClean Energy Project, Center for American Progress and the University of Nevada, Las Vegas. Visionaries like Tesla CEO Elon Musk come together with policy experts like Jon Wellinghoff, chairman of the Federal Energy Regulatory Commission, to discuss how smart clean energy choices made by individuals, governments, and businesses can save consumers money, grow the economy, and improve our overall quality of life.

“The summit attracts clean energy leaders, public officials, business executives, energy policy experts, entrepreneurs, investors, citizens, students, and the media to discuss how to empower the public with the tools to promote clean energy, increase energy independence, and create jobs.


“Since 2008 these dynamic summits have become one of the country’s most visible and influential gatherings of leaders and creative policymakers who are helping to bring about the transformation to a clean energy economy,” said Lydia Ball, executive director of the Clean Energy Project. “The annual summits foster the most productive dialogues on one of the most pressing issues of our time.”


WHO: “National Clean Energy Summit 5.0: The Power of Choice” confirmed speakers include:

• Former President of the United States of America Bill Clinton

• Sen. Harry Reid (D-NV), Senate Majority Leader

• John Podesta, Chair and Counselor, Center for American Progress

• Jim Murren, Chairman and CEO, MGM Resorts International

• Leo Gerard, President, United Steelworkers International

• Elon Musk, President and CEO, Tesla

• Jon Wellinghoff, Chairman, Federal Energy Regulatory Commission

• Denise Bode, CEO, American Wind Energy Association”



OK! Harry has his reasons for the summit. He wants to Green Up America and save the world. My local paper had this to report on the summit. http://www.marinij.com/tablehome/ci_21254143/green-energy-politics-tap-vegas-summit

“Reid declined to comment Tuesday about Arctic drilling, saying he wanted to keep the focus of his conference on renewable energy projects. But in his opening comments to the conference, called the National Clean Energy Summit 5.0, Reid derided those who deny that the burning of fossil fuels has contributed to global climate change.

"Those people aren't just on the other side of the debate," he said, "they're on the other side of reality."



From my position of thermodynamic reality I wondered why Elon was on the other side of the table from Harry Reid and Ken Salazar? Then I read the following blog from a financial guy who closely follows Tesla Motors’ stock.

http://seekingalpha.com/article/785981-knight-capital-group-an-object-lesson-in-emergency-financing?source=yahoo



Per the analysts blog Tesla is basically out of money. I quote from the blog

“At June 30th, Tesla had $30.6 million in working capital and $62.2 million in equity. Based on their second quarter results, the estimated balance sheet values at July 31st were a modest working capital deficit and $30 million in equity. By the end of September, both values will be deeply in the red. Despite its abysmal financial condition, Tesla's market capitalization was $2.98 billion, or roughly 100 times its estimated book value, at yesterday's close.

I believe Tesla's management team has probably been seeking additional financing for several months because it's the only responsible thing to do. I also think they've probably received several term sheets with discounts that were far deeper than management could stomach. I'm convinced it's only a matter of time until there's simply no choice.

Reckoning day will not be pleasant for Tesla's existing stockholders.”



Now we know why Elon the “Visionary” is in Vegas meeting with Ken and Harry. His is there either to bet big on the roulette wheel and bring back dough for his non tail pipe dream or more probably he is there to hit up Harry and Ken to up the ante on the $465 million loan the DOE gave him? http://gigaom.com/cleantech/tesla-wins-465m-in-doe-loans-nissan-gets-1-6b-for-electric-cars/



Elon, by the way, there is no number 50 on the roulette wheel. In case Harry and Ken did not know that by last weekend Tesla had produced 50 of their models Ss. Elon, just bet it all on the two green numbers on the roulette wheel. Zero and Double Zero as that is what the taxpayers will get back from you if John Petersen is correct. Note US roulette wheel’s have zero and double zero while the rest of the world simply has a single zero. I guess with Harry Reed and Ken Salazar we the citizens of these United States have doubled our chances of winning by betting on zero. Actually by having two zeros the house increases their odds to win. Wow if the US House needs two zeros, Harry the Senate can add a third the triple zero.

7 comments:

  1. Maybe Elon should head over to the Black Jack or Craps tables. They only require no/some skill placing bets and have the lowest house advantage.

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  2. I think he will hit 19 as that will be the maximum number of cars he produces in a week before he busts by drawing an 8 when he is on 19. He has to go for broke as the house has two one eyed jacks, Harry Reid and Ken Salazar

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