Considering I called this exact day of trading last week, not a single ounce of me is surprised. The only thing I got wrong is that wall st didn’t even need a hot piece article to drop the stock.
Just another week of TSLA trading like a dog.
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Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable
- Thread starter AudubonB
- Start date
Just another week of TSLA trading like a dog.
Yesterday, the Barrett Riley crash jury trial reached a verdict. If I understand correctly, the total damages were $10.5 million and Tesla was 1% responsible, meaning that Tesla would be on the hook $105,000.
www.law360.com
Jury Says Tesla Was Negligent But Blames Driver For Crash - Law360
A jury on Monday found Tesla negligent for a crash in a 2014 Model S that killed two Florida teens and awarded $10.5 million in damages, but assigned 99% of the blame for the crash to the teenage driver and his father.
www.law360.com
I'm not sure why you'd assume that. I can't say I've worked with molds the size of what the Gigacasting machines use, but in a great many plants, large injection molds, as well as die casting molds, are changed regularly. "Quick die change" (or mold change as the case may be) is a fundamental part of high-volume manufacturing. It's been nearly 40 years since I worked at GM, but even then, a mold in a 1000 ton injection mold machine would be changed in well under an hour. That was before the whole "quick change" model was empathized; I'm sure things are a lot more refined these days.
bkp_duke
Well-Known Member
Yesterday, the Barrett Riley crash jury trial reached a verdict. If I understand correctly, the total damages were $10.5 million and Tesla was 1% responsible, meaning that Tesla would be on the hook $105,000.
Jury Says Tesla Was Negligent But Blames Driver For Crash - Law360
A jury on Monday found Tesla negligent for a crash in a 2014 Model S that killed two Florida teens and awarded $10.5 million in damages, but assigned 99% of the blame for the crash to the teenage driver and his father.
I really hope that Tesla is smart and doesn't appeal this judgement, and just accepts the outcome. 1% is a "token" responsibility assignment.
BrownOuttaSpec
Active Member
I thought the same thing with the voting material on a previous post: Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable
bkp_duke
Well-Known Member
another lawsuit, this time in Berlin by German "consumer group" vzbv
alleges Tesla:
- untruthful about CO2 impact as it sells carbon credits to other manufacturers allowing them to pollute
- does not tell buyers they must comply with European data regulations when using Sentry mode
CO2 claim is odd, as in reality all it does is pay Tesla rather than face government fines, credits do not increase/decrease CO2 just adjust the direction and amount of fines.
data regs should be easily dealt with in the small print I would guess.
With every one of these lawsuits out of Germany, I am still amazed that Elon chose to put a gigafactory in this country.
TheTalkingMule
Distributed Energy Enthusiast
There's about 20 threads on this within the Energy forums on TMC, go check em out.Incorrect, I have a business partner in NV, and the utilities commission, under great public pressure, restored a reasonably fair version of net metering back in 2017.
From Wikipedia (Net metering in Nevada - Wikipedia):
"The previous version of net metering in Nevada was shut down by the state legislature and carried out by the Public Utilities Commission in December 2015. Under the new system, new rooftop solar customers will receive a reimbursement equal to a percentage of the retail price of electricity whenever they send their own energy back to the electric grid. That percentage rates are known as "tiers" and will start at 95% of the retail price for the first 80 MW of installed capacity."
It's not a 1:1, but it's very close and very fair for residential customers, and the lowest reimbursement rates will ever drop is 1:0.75. That's fair and reasonable for a "connectivity charge" and allows for people to overprovision their solar systems in order to have effectively a net-zero bill.
Nevada Legislature Passes Bill to Restore Net Metering for Rooftop Solar
The legislation is on track to become law, which advocates say will reboot the state’s rooftop solar market. Tesla is already planning to enter.www.greentechmedia.com
The above law was signed by the governor in June 2017.
It's certainly no surprise the PUC and governor did a 180 2-3 years after their wildly unpopular moves bankrupted SolarCity and stalled the entire residential solar market nationwide. They got caught doing the singular bidding of nvenergy and folks found out.
I'm not sure how it's even remotely defensible. Probably the most damaging effort against US solar other than Reagan being elected.
TheTalkingMule
Distributed Energy Enthusiast
They have the best engineers in the world, a commitment to highly efficient domestic heavy industry, and single-handedly scaled the market for renewables worldwide over the last 25 years?
You think Tesla's not being attacked in the US?
Next month there is another jury trial for damages on the passenger. The dynamics are complicated and it's unknown what all of the litigants are seeking out of the lawsuits. Seems possible that none are really doing it for the money at stake in the suits.
JRP3
Hyperactive Member
Except if the 99% of responsibility were on the family how would they pay themselves damages?
Via their insurance carrier, I believe.
bkp_duke
Well-Known Member
They don't in cases like these.
EDIT - clarification: if the judgement is against the son driving the car, his insurance isn't going to pay out to the family, who is under the same policy. There are clauses in the insurance against things like this.
Tesla will likely pay the 1%, and call it a day. At least one hopes they do that. Their "culpability" probably stems from a tech removing the speed limiter when the family had it installed. Given that the kid was not the owner of the car, the service center should have called and confirmed that with the parents before doing such.
Seems like all the Tesla events and marketing are turned towards Cybertruck and/ or Cyber in general.I thought the same thing with the voting material on a previous post: Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable
I guess they just want us to know we're not the only ones with it on the top of mind.
Helpful. More specifically, their umbrella insurance carrier (I assume). If the father is 9% responsible, he would be on the hook for $945,000. Given that umbrellas tend to be in increments of $1 million, his umbrella insurance carrier would pay the whole thing.
Meanwhile F and GM both up 6% today.
GM announced their 2023 Blazer EV, which honestly looks pretty compelling. If they could only produce Tesla levels of production, it would be a huge success.
TheTalkingMule
Distributed Energy Enthusiast
I hear that production at scale is actually the easy part.
Motor Mouth
Member
Manufacturing is easy
- Nobody
That is certainly the quick and cheap thing to do, but it sets a precedent for future litigation. “Tesla accepted blame for part of the damage so the should accept blame for this lawsuit too.”
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