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Tesla repays department energy loan nine years early

Discussion in 'Tesla Motors' started by clea, May 22, 2013.

  1. DaveT

    DaveT Searcher of green pastures

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    I love the last sentence of the press release...
    “I hope we did you proud.”
     
  2. DJ Frustration

    DJ Frustration Model X Sig, Former Model S, Model 3 Res

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    This is a big win for the American Taxpayer, supporters of the AVTMLP and the DOE employees entrusted with administering the program in what was probably a thankless job. Here's a big thanks from one Tesla Model S owner!
     
  3. JRod0802

    JRod0802 Member

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    Electric carmaker Tesla pays off U.S. loan - Yahoo! Finance

     
  4. FreeOfPge

    FreeOfPge Member

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    For some reason this feels like one of those "one small step for man, one giant leap for mankind" event.
     
  5. sp4rk

    sp4rk Banned

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    Excellent last line. "They did us all proud". And I, for one, am so glad to be along for the journey.
    Thanks, DOE; and most importantly ... thank you Elon and everyone at TM for making such a difference!
     
  6. Kaivball

    Kaivball Member

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  7. Talkredius

    Talkredius Member

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    Elon nailed the stock price to a starting Falcon 9 , no mercy for shorties:biggrin:
     
  8. Majerus

    Majerus Member

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    As a Tesla fan this really makes me happy to see the company repay the debt. Now when someone asks why did the government give the company money to a company who will never repay.. i can say ... It was paid in full, with interest. Good day for sure..
     
  9. DavidM

    DavidM P2624, Delivered

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    This is a huge day in Tesla Motors history. Also a huge day for the future of the automotive industry. Proud to be driving a Model S.
    Now, all those negative comments on the news seem very petty and unwarranted.
     
  10. smorgasbord

    smorgasbord Active Member

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  11. FreeOfPge

    FreeOfPge Member

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    Wow, this is now the #4 top trending story on Yahoo. I know it is big news around here but it seems a bit surprising to be trending that high, or at all. Maybe because Tesla was kicked around politically? Seems more business news then front page news, not complaining, just saying...
     
  12. jeff_adams

    jeff_adams Member

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    Next time some numskull sprouts off a lame comment to a Telsa story about how they benefited from the government loan, I'm going to remind them that Ford borrowed almost 6 BILLION in the same program and hasn't paid the loan off yet.
     
  13. lolachampcar

    lolachampcar Active Member

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    A question for all the financially talented types out there....
    I was always led to believe that you normally never do something with equity that can be accomplished with debt. How does that apply hear (obviously it did not)?
     
  14. gregincal

    gregincal Active Member

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    They mostly issued preferred shares, which are basically a form of debt, not equity (they have no voting rights). It's complicated because they are convertible, which makes them a bit of a hybrid. However, they didn't do a straight secondary like in October, which was raising money purely with equity.
     
  15. ToddRLockwood

    ToddRLockwood Active Member

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    Stunning news.

    This part of DOE's statement is particularly interesting. Puts things in perspective.

    “More than 90 percent of loan loss reserve Congress established remains intact, while losses to date represent about 2 percent of the overall $34 billion portfolio. The other 98 percent of the portfolio includes 19 new clean energy power plants that are adding enough solar, wind and geothermal capacity to power a million homes and displace 7 million metric tons of carbon dioxide every year – roughly equal to taking a million cars off the road."
     
  16. anticitizen13.7

    anticitizen13.7 Enemy of the Status Quo

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    Fantastic news. I'm just happy that the DOE loan is no longer an issue, because I was getting tired of the whole thing being brought up on news sites all the time. One less thing for the haters to gripe about.
     
  17. GlennAlanBerry

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    Yep, one less talking point for the EV bashers (although I bet you will still see people bring it up, since they don't know the loan was paid off).
     

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