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Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: GGD
Date: May 06, 2018 06:45PM
Might not want a Tesla that is being built tomorrow.

[gizmodo.com]

Quote

Elon Musk is apparently planning to purge Tesla factories of contractors in the strangest way possible. The company CEO is planning to cut off access to the company to any contractor who doesn’t have a Tesla employee to vouch for the quality of their work.

In a recent email sent to Tesla employees and obtained by Electrek, Musk warned that outside workers will be denied entry into the factory come Monday morning. The only way to keep those extra laborers around is if a Tesla employee is willing to place their own livelihood on the line in order to attest to the contractor’s skills.

...
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: Will Collier
Date: May 06, 2018 06:49PM
Paranoia, the destroyer.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: sekker
Date: May 06, 2018 07:56PM
We have a similar requirement where I work. Just required for a contractor to get access in the first place.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: Lemon Drop
Date: May 06, 2018 08:15PM
Musk's bizarre and irrational behavior and indifference to investment analysts would be one thing if he were still the private owner of Tesla, but he's not, it's a public company now. They are bleeding cash, haven't figured out how to fix production problems, and are about to run out of customers willing to forego the soon-to-expire tax benefit and to wait indefinitely for a car they ordered. Some analysts think their production system is so flawed that they're going to have to scrap it completely and start over.

I think he might have to try to buy the company back (take it private again) so it can go back to being his personal experiment, and his risk.

Or maybe the genius sleeping on the factory floor, terrorizing workers and living on junk food and diet coke will save the day. I guess if anyone can...
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: deckeda
Date: May 06, 2018 09:22PM
He's learning that anyone not working at a normal car company very much wants Tesla to succeed, but production issues equate to failure and plummeting support.

So the question is as it always is, what will investors stomach and for how long? What they "should" do isn't much use in debating.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: sekker
Date: May 06, 2018 10:21PM
Quote
Lemon Drop
Musk's bizarre and irrational behavior and indifference to investment analysts would be one thing if he were still the private owner of Tesla, but he's not, it's a public company now.

The questions from the two analysts who Musk declined to answer 1) had their questions answered in writing before the call and 2) are representing the largest short-sellers on Wall Street. I see no reason he has to answer twice investors who are literally betting against the company.

All numbers point to Tesla needing about $1B more in cash (after $30B? spent to date) to become fully profitable, with the Gigafactory offering a decade or more additional leadway over competitors. That dilutes current investors 3%. I think he will be able to get that cash when he needs it.

However, if he cuts out the BS contractors, he might hit profitability this year. I have a TON of worthless contractors in my business space.

He could be more tactful - but then again, can you blame him for losing his temper when he's doing so much?



Edited 2 time(s). Last edit at 05/06/2018 10:23PM by sekker.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: bfd
Date: May 06, 2018 10:43PM
Independent contractors are the wage slaves - and victims - of the 21st Century Gig Economy. No benefits, no status in the company, why would any of them give a rat's ass about what they're doing since they know they'll never be hired on as full-time.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: Yoyodyne ArtWorks
Date: May 06, 2018 10:52PM
Quote
bfd
Independent contractors are the wage slaves - and victims - of the 21st Century Gig Economy. No benefits, no status in the company, why would any of them give a rat's ass about what they're doing since they know they'll never be hired on as full-time.

Yep.



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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: Speedy
Date: May 06, 2018 11:45PM
Tesla will be out of business in five years. I said that years ago and I'm sticking by it.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: Lemon Drop
Date: May 07, 2018 01:04AM
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Speedy
Tesla will be out of business in five years. I said that years ago and I'm sticking by it.

At the current rate it won't take five years.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: Lemon Drop
Date: May 07, 2018 01:18AM
Quote
sekker
Quote
Lemon Drop
Musk's bizarre and irrational behavior and indifference to investment analysts would be one thing if he were still the private owner of Tesla, but he's not, it's a public company now.

The questions from the two analysts who Musk declined to answer 1) had their questions answered in writing before the call and 2) are representing the largest short-sellers on Wall Street. I see no reason he has to answer twice investors who are literally betting against the company.

All numbers point to Tesla needing about $1B more in cash (after $30B? spent to date) to become fully profitable, with the Gigafactory offering a decade or more additional leadway over competitors. That dilutes current investors 3%. I think he will be able to get that cash when he needs it.

However, if he cuts out the BS contractors, he might hit profitability this year. I have a TON of worthless contractors in my business space.

He could be more tactful - but then again, can you blame him for losing his temper when he's doing so much?

Well yeah, this is what Elon Musk claimed on twitter. He possibly doesn't understand what "short-sellers" are v. sell-side, or he's just making excuses for refusing to answer reasonable questions during an investor call. He was being asked questions from sell-side analysts, they represent retail and institutional buyers and are basically stock analysts who make buy, sell or hold recommendations. "Buy side" means fund managers.

It's rarely a good thing when a CEO is a jerk towards stock analysts who are asking normal questions. Remember Enron?



Edited 1 time(s). Last edit at 05/07/2018 01:27AM by Lemon Drop.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: sekker
Date: May 07, 2018 06:46AM
Plenty of full-time contractors in my neck of the woods. But maybe we are backwards here in the Upper Middle West.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: cbelt3
Date: May 07, 2018 09:51AM
Musk is going seriously off the deep end. His tweets are rivaling a certain occupant of a house on PA Ave. It's really sad to see, because I had high hopes for his enterprises being the catalysts that this country needs to push itself out of the 19th century way of doing things.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: NewtonMP2100
Date: May 07, 2018 09:52AM
.......no more.....musk......rat love.....??



_____________________________________

I reject your reality and substitute my own!
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: JPK
Date: May 07, 2018 10:58AM
Sounds like a great opportunity for TESLA employees to earn a little kickback money from contractors.

Musk seem nuttier than a christmas fruitcake.

JPK



Edited 1 time(s). Last edit at 05/07/2018 10:59AM by JPK.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: Lew Zealand
Date: May 07, 2018 11:00AM
Quote
Speedy
Tesla will be out of business in five years. I said that years ago and I'm sticking by it.

Did you say that… 5??… years ago?

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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: GGD
Date: May 07, 2018 11:23AM
Quote
JPK
Sounds like a great opportunity for TESLA employees to earn a little kickback money from contractors.

Musk seem nuttier than a christmas fruitcake.

JPK

That thought crossed my mind too.

I think what will actually happen is that lots of full-time employees will now have a second job covering for the missing contractors in order to keep the factory running. They won't get paid extra for it, and replacements may never get hired, but Musk will say, see we didn't need all of those contractors, look at all the money we're saving.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: Carnos Jax
Date: May 07, 2018 06:51PM
Quote
cbelt3
Musk is going seriously off the deep end. His tweets are rivaling a certain occupant of a house on PA Ave. It's really sad to see, because I had high hopes for his enterprises being the catalysts that this country needs to push itself out of the 19th century way of doing things.

Belty, I respect almost everything you say on this forum, but you've overdramatized this to the point of being wrong. As far as the big picture goes, Musk has delivered on or been proven right on pretty much everything he says, the only thing he gets wrong are timelines. Look at SpaceX, no one in the aerospace industry wildest dreams would have thought SpaceX would be able to do what they did. By extension, I have no doubt Tesla will eventually do the same. The arguments we are seeing now about how Tesla is going to go bankrupt, or that Tesla can't produce (or whatever else negative you can throw in there) has been levied each time Tesla came out with a new model. And each time those arguments were proven wrong.

There's almost a feeling among the entrenched financial/automotive/aerospace industries of wanting to see Tesla and SpaceX fail. It's a damn shame. Just another example of the ultra-wealthy wanting to maintain the status quo for their benefit at the expense of a much larger segment of humanity benefiting.
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Re: Tesla Will Lock Out Contractors on Monday Unless Employees Vouch For Them
Posted by: Racer X
Date: May 07, 2018 11:20PM
scha·den·freu·de
noun
noun: Schadenfreude; noun: schadenfreude

pleasure derived by someone from another person's misfortune.

The other ultra-wealthy will feel better about themselves if he fails.
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