The Political Page, T+201 -- GE, The Darling Of The Obama Administration, Immelt, Obama's "Jobs" Czar; GE: Moving A Rochester, NY, Plant To China -- August 9, 2017

I can't make this stuff up. They must have finally gotten tired of:

• the weather;
• the snow;
• the taxes;
• Cuomo;
• the Kardashians; and,
• President Trump

GE to close Rochester plant, move production to supplier -- headline over at The Street.

General Electric Corp. (GE) announced that it is closing its plant in Rochester next year and moving operations to China.

The production of the electronic boards that are assembled at the plant will be taken over by Florida-based Jabil Inc. (JBL) in China.

I'm going to boycott GE and JBL. LOL.

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Canadian Defense Dollars Spent On Refugees From USA

Meager as their defense budget may be (previously posted), Canada will use soldiers, not for security, but for reception, housing, processing of Haitian refugees streaming across the US border.

Of course, this will only encourage the stream.

Hopefully.

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Tesla's Q2 10-Q

From a contributor over at SeekingAlpha, data points:

• cash is down to $3 billion
• global new vehicle revenues decreased in every country reported
• inventories set new highs; finished goods inventory now stands at $1.5 billion
• Q&A: delayed for fifteen minutes due to microphone problems
• net reservations stood at 455,000 -- not 500,000+
• Tesla delayed spending in 2Q; kicked the "spending can" down the road
• Tesla blew though $1 billion in 2Q
• quarterly loss: $401 million (forecast: if Tesla reported a loss over $400 million, it would be the largest quarterly loss in their short history
• the order book for Model S and X is not longer "important enough" to warrant an answer form Musk Melon
• Friday night news dump: Tesla released its quarterly 10-Q filing to the SEC
• Tesla did not break out sales by model; no one knew why -- now we know why: the biggest drop was in the flagship Model S where US sales are projected  to have fallen b over 1,000 units in Q2 from Q1, down from 6,100 to 5,095
• Tesla recently announced a $3,000 price reduction on the Model X
• no company on this planet lowers prices when demand is rising
• more "options" are not becoming standard equipment; customer referrals can reinstate free lifetime Supercharging use
• the real shocker for this contributor: Tesla has slipped 0.9%, 72-month financing into the order pages for both Model S and X on Tesla.com; loan money from Alliance will cost Tesla at least 2.49%; Tesla is stuck with the different; big players use this routinely to move slow inventory; if Tesla is doing so well with sales, why are they now subsidizing financing of new vehicles?
• assumption: the $1.5 billion in bond money will be used to finance new car sales
• completely erases any doubts that Tesla is now demand constrained
• Q2: increased sales activity probably was in used cars, Supercharger fees, and recording revenues form software sales
• bottom line: new vehicle sales fell worldwide in Q2
• revenues increased 157% from a year earlier; costs rose 249% 
• no doubt, the largest costs are the disposition of used cars

And the story goes on and on along this line. 

Comments: 72. Worth the read.