New 2022 theme added July 23, 2022.
Updates
March 2, 2023: EV cash burn, particularly Rivian, Arrival.
Original Post
Re-posting:
Ford: Bloomberg --
- will cut 8,000 jobs to help fund EV investment
- reductions seen coming from the Ford division that is producing gas-fueled models
- CEO: Ford profit hampered by having "too many people"
- boardroom
- CEO: "ICE division -- we have to cut; we need cash to fund EV development"
- head of ICE: "So, we're hitting on all cylinders; making money hand-over-fist; our people are incredible; putting out a product the US consumer wants; we're meeting / exceeding all expections; and the reward for our union members is to cut 8,000 well-paying jobs?"
- CEO: "Yes. Now, back to EV. Bill, when do you see turning a profit in EVs?"
- CEO: "Bill?"
Tesla: more comments over at twitter about Tesla selling bitcoin
- appears to have bought at about $33,000
- appears to have sold for about $29,000
- if accurate, did great job minimizing loss
- many think the bitcoin sale accounts for company's "free cash flow" this past quarter
- whether accurate or not, a question and an observation:
- is that why Tesla sold? Nope, Tesla sold to stop losing money; they saw where bitcoin was headed
- folks are using the phrase "free cash flow" too often; I wouldn't consider selling bitcoin "free cash flow"; it might be "cash" but it really wasn't "flow" as in continuous revenue stream from ongoing operations
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