California's Fleet Of Cruise Driverless Taxis Grounded As Experiment Halted Due To 'Public Safety Concerns'

 

            Chaos in San Francisco as driverless taxis lose GPS contact and suddenly stop        (picture:       lavanguardia.com )

California, as most people are aware, like to think of itself as the world's capital of  'Woke,' the state's lawmakers, academics and not least it population of showbiz celebrities like to think of themselves as progressive trendsetters leading the world to a technological utopia. So today's news that The California Department of Motor Vehicles (DMV) has suspended General Motors' Cruises autonomous vehicle and driverless testing permits across the state thus halting the experiment of having a fleet e driverless taxis patrolling the streets. DMV cited safety concerns and incidents in justification of the move following a series of incidents involving the electric vehicles, some of which resulted in injuries to drivers and pedestrians while others caused huge traffic jams (above).

"When there is an unreasonable risk to public safety, the DMV can immediately suspend or revoke permits," California DMV stated in a press release. 

The decision to suspend Cruise's operation was based on a number of considerations, including "manufacturer's vehicles are not safe for the public's operation" and "manufacturer has misrepresented any information related to the safety of the autonomous technology of its vehicles." 

DMV also cited a clause in its road safety approvals policy: " Any act or omission of the manufacturer or one of its agents, employees, contractors, or designees which the department finds makes the conduct of autonomous vehicle testing on public roads by the manufacturer an unreasonable risk to the public," in suggesting that Cruise had not been entirely honest in their presentations of safety data relating to testing of its autonomous taxis in controlled conditions and that the technology had not been ready for use on public roads.

All in all it has been a bad month for the Electric Vehicle fan club, on top of this story UK authorities are now backtracking on their initial claim by the Chief Fire Officer that he believed that the disastrous fire which destroyed 1500 vehicles in a car park at Luton Airport was started when a diesel powered Range Rover spontaneously combusted. A strong body of evidence has emerged identifying the culprit as a Land Rover Discovery Sport, a hybrid which has a powerful diesel motor as its main engine and a small electric motor and lithum ion battery pack for urban use.

Then there was the case of the £200,000 McLaren sports car which burst into flames a mile from the dealership's showroon as a prospective buyer took it for a test drive (full story: The Metro )  

And another item from today's breaking news reports that Tesla are being investigated by the US Department of Justice (DoJ) for fraudulently misrepresenting performance figures relating to drive rang per charge.

All we can say to Electric Car nerds who insist these self propelled bombs are "100% safe and effective," is, Oh dear. Never mind, fossil fuels will always get you where you want to go. 

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How Tesla Bought Russian Aluminum To Make Body Shells For Model Y

 Leaked documents obrained by CNBC news show Tesla Cars bought millions of euros worth of aluminum from Russian aluminium company Rusal, the second-largest aluminum supplier in the world .

Several current and former employees of Tesla provided CNBC with invoices of the purchases, though they wanted to remain anonymous, citing fear of retribution. They said the electric vehicle maker purchased millions of euros worth of Russian aluminum to make body shells for the production trials of the Model Y at its new manufacturing facility in Brandenburg, Germany. No details were provided in the documents that suggested Rusal aluminum was shipped to the US.

This confirms the Boggart Bloggrs were right once again when we said Russia would have no problem finding ways to circumvent western sanctions. All multi national corporations have well established networks of shell companies set up in tax havens, through which goods and money can be moved around while the point of origin and final destination remain obscured. 

Follow The Money - How Russia Will Overcome The West's Economic War

The USA and the rest of NATO have sanctioned Russian tycoon and Rusal founder Oleg Deripaska. The billionaire is reportedly a close associate of Russian President Vladimir Putin and has called for peace in Ukraine.  Deripaska also said recently, "the whole world will be different after these events, and Russia will be different."

Rusal is not Tesla's main aluminum supplier and the leaked invoices didn't provide information on how much aluminum Tesla obtained from Rusal. What the documents show however is that a German subsidiary of Tesla paid the Swiss subsidiary of Rusal through an Austrian bank for the metal. 

Tesla began sourcing aluminum from Rusal for casting car parts in December 2020 and continued purchases through February 2022. 

There's no word if Tesla has run into sourcing issues which caused it to turn to Rusal for aluminum but Elon Musk made it clear last weekend that "Tesla & SpaceX are seeing significant recent inflation pressure in raw materials & logistics."

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E U Central Bank Digital Currency Is The Death Rattle Of A Failed Experiment

The announcement from the European Central Bank (ECB) that is is to intrduce an official European Union digital currency spells the end of the European Single Currency experiment and with it the ambition of "ever closer union until the EU's member states were merged into a single political entity Digital Currencies might not quite be Ponzi schemes but on appearances the difference can be compared to that between a horse and a pony.

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The age of financial privacy is over
Yes you read that right. The fascist regime in the USA has usurped to itself the right to raid bank accoutns anywhere is the world. At the moment they are only stealing money by way of tax demands from people who were born on US soil even if those people have not lived in the USA since childhood and have never be employed by a US business.

Inland Revenue a Dysfunctional department that ‘can’t be trusted’ with power to raid bank accounts
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As Propaganda For electric Cars Intesifies Disasters (Personal and Financial) Continue to Stack Up

 

Two People Killed After Tesla Crashes Into A Tree And Becomes "Engulfed In Flames" In Florida

Another two people in Florida, USA, died on Monday night this week when their upmarket Tesla electric car crashed into a tree in Coral Gables, Florida and burst into flames. As has been the case with other Teslas, some of which caught fire after accident while others apppear to have spontaneously combusted, the lithium fire defied the efforts of firefighters to extinguish it..

The "fiery wreck" took place at the intersection of Alhambra Circle and Coral Way, according to Local 10. A police officer at the scence said the driver crashed the car into a tree, but no further details about the accident have been determined yet. 

Video shot by witnesses on smartphones shows the wrecked vehicle "engulfed in flames" killing both occupants of the vehicle. "That's a Tesla," the person taking the video of the wreck can be heard saying. 

Firensic examiners spent Tuesday collecting evidence at the accident scene and a full investigation is now under way. The driver was a 20 year old male and the passenger was a 19 year old woman, the report says. 

The National Highway Transport Safety Association (NHTSA) said recently it had opened a formal investigation into the Tesla company's Autopilot feature after numerous accident of a similar nature over the past few years. An NHTSA statement on the opening of its investigation  into Tesla's Model X, S, and 3 for model years 2014-2021 indicated the broad range of models and model years means that this could be the broad investigation that Tesla skeptics have been demanding for many years. Specifically, the regulator is looking into a litany of accidents involving Teslas on Autopilot slamming into immobile emergency response vehicles on the road. 

The NHTSA said the investigation would assess technologies, methods "used to monitor, assist, and enforce the driver's engagement" during autopilot operation, according to Bloomberg.

Goldman Sachs appeared anything but optimistic that the probe into Autopilot would be resolved quickly. “Given the current probe is related to a Level 2 driver-assist system, one solution could be for an enhanced driver monitoring system to ensure driver compliance with Tesla’s terms of use,” the investment bank wrote last month. Part of the problem is that Tesla's branding of its system as "Autopilot" suggests the car can be trusted to dive itself however the system is only an electronic assistant for drivers, not an autonomous control system for the car. One hopes drastic action will be taken, Tesla have been getting away with murder (metaphorically,) for too long.

Watch Local 10's coverage of the wreck here. 

*****************

After Two Recalls, GM Finally Just Tells Bolt EV Owners: "Don't Park Your Car Within 50 Feet Of Another Car"

from Zero Hedge

After a series of recalls that we have documented here on Zero Hedge, General Motors looks to be taking its precautions with the Chevy Bolt one step further: the automaker is asking Bolt owners to park "at least 50 feet" from other vehicles if you're going to leave your car in a parking deck. 

GM spokesman Dan Flores, who we're sure isn't getting paid enough to deliver this line with a straight face, said this week: "In an effort to reduce potential damage to structures and nearby vehicles in the rare event of a potential fire, we recommend parking on the top floor or on an open-air deck and park 50 feet or more away from another vehicle. Additionally, we still request you do not leave your vehicle charging unattended, even if you are using a charging station in a parking deck."

"We are aware of 12 GM confirmed battery fires that have been investigated involving Bolt EVs vehicles in the previous and new recall population," he continued, telling The Detroit News. "We're still working with LG around the clock to resolve the issue. Both companies understand the urgency to move as quickly as possible, but, again, the most important thing here is we have to get this right."

Recall, back in July, General Motors issued their second recall for the Chevy Bolt after it announced that two Bolts had caught fire without impact and that at least one of the two was related to the battery and happened despite the owner getting a fix from a previous recall.

The second recall included all Bolt EVs from 2017 to 2019, encompassing 68,000 vehicles. 50,925 of those vehicles were located in the U.S. and they have batteries that are produced at LG Chem’s Ochang, South Korea, facility, the report notes.

A spokesman for GM said earlier this summer: "As part of GM’s commitment to safety, experts from GM and LG have identified the simultaneous presence of two rare manufacturing defects in the same battery cell as the root cause of battery fires in certain Chevrolet Bolt EVs. As part of this recall, GM will replace defective battery modules in the recall population. We will notify customers when replacement parts are ready." 

GM, at the time, was recommending that owners: 

• Return the vehicle to the 90% state of charge limitation using Hilltop Reserve mode (for 2017-2018 model years) or Target Charge Level mode (for 2019 model year), or visit a dealer to make that change.
• Charge the vehicle after each use and avoid depleting the battery below  70 miles of remaining range.  
• Park the vehicle outside immediately after charging and do not leave the vehicle charging overnight.
• Customers who have not received the advanced diagnostics software should visit their dealer to get the update.  After obtaining the software, limit the state of charge to 90% and follow the advice above.

We're guessing those rules still run concurrent with the new "50 foot" rule.

 

 

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Identity politics has morphed into identity investing: the newest breed of traders buy stocks simply because they are fans. This is one explanation offered for the continuing rise of Tesla despite the incresingly apparent evidence that its founder and big boss is certifiably insane and the fact that the electric car maker runs is car making operation at a loss and only stays in business by selling carbonm credits handed out by the US Government and various state legislatures, including the global capital of crazy, California, New York state, Illinois and every other corupt, Democrat controlled shit hole.

That Elon Musk has recently anointed himself the Technoking of Tesla while rebranding his chief financial officer as “Master of Coin,”  the title held by Littlefinger, Tyrion Lannister and other characters in Game Of Thrones is not a joke. It’s not even (or not just) an attention-seeking stunt. There’s much more to it than that. However Musk's move has triggered the latest wave of enthosiasm among electric car nerds and tech cult members for buying shares in Musk's great bubble.  

Some have suggested Musk’s idiotic antics over job titles are a ploy to divert attention from the many downsides of Tesla’s performance, the upsides of which exist only in the minds of Musk and the millions of tech fanboys (and a few fangirls,) who believe every bit of hyperbole that spills from his mouth, viz Musk's splashy announcement last month about a $1.5bn bet on Bitcoin which came around the same time as regulators in China, its fastest growth market, were flagging safety and quality issues but triggered another uptick in the price of Tesla stock on financial markets when the news from China should have caused a sharp drop as China is the car company's biggest market.

The latest whacky disclosure coincides with a report from Barclays Investment Bank that shows Tesla’s share of the electric car market in Europe dropped from roughly a third at the end of 2019 to 10pc at the beginning of this year. Tesla is also having problems both technical and legal, with its “self-driving” feature, which, pardon me if I’m being a bit too technical here, when I say that it is effing uselesss. The legal issues mainly concern the families of tesla owners killed when the self-driving technology failed with fatal consequences.

Maybe there’s a diversionary element to it but this kind of tactic on planet Musk is a strategy. You could call it corporate populism. He's telling the faithful what they want to hear.

His Techno Highness regularly demonstrates that he has less than zero interest in governance norms, customer satisfaction or in the traditional conduits of financial information - like bank analysts or the media - instead playing to the crowd through social media (and subversive SEC filings).

Elon Musk has changed his job title from chief executive to 'Technoking' of Tesla

It works because the crowd is big enough to make a difference and gullible enough to fall for it again and again. The number of retail investors, the majority of whom are under the age of 34, doubled in 2020, the generation that does not understand there's a big difference between researching something and Googling it. The significance of this trend towards young, independent invetors buying and selling small quantities of stock has only recently become apparent. Encouraged by social media campaigns particularly on the Reddit site, retail investors have accounted for a third of all US stock market trading, meaning they collectively yield greater sway than every single hedge fund and mutual fund in the country combined.

Many of these investors aren’t doing rigorous financial analysis. If they were, they’d be worried that Tesla has a p/e ratio ( a company’s share price expressed as a multiple of how much money it actually makes) of 180x. This compares to an average among US equities of 19x, UK, Germany and France about the same, according to analysis by Schroders. 

At the end of January Tesla was worth $752bn, placing it in the top 10 most valuable companies in the world. In fact it now represents over a third of the market value of the entire global car industry. This is a vast overvaluation for a company run by a nutter that is in reality a niche car maker.

“Such an immense market capitalisation makes sense only if the expectation is that Tesla will come to dominate the entire auto industry, not just the [electric vehicle] market,” says Rob Arnott of Research Affiliates. “Such an achievement requires that both Tesla’s brand and technology become so dominant that the company can earn profit margins that exceed those of Ferrari on a level of production exceeding that of Toyota.”

That ought to sound a bit far fetched even to Musk's biggest fan, it certainly does to one of his biggest rivals Akio Toyoda, President of Toyota, which is memory serves me well vies with Ford and Volkswagen for the unofficial title of world'd biggest car maker. It would clearly be impossible for Tesla to dominate the car industry in such a way while its rivals also continue to see their share prices rise whenever a new EV is announced. And yet that is what the soaring share prices of other EV specialists over the past year and the relatively stable share prices of traditional car markers currently implies. In other words, investors appear to believe there will be no losers from this ultra-competitive race to go electric. In the future there will be no losrs only runners up! How very woke!

This irrational obsession with electric cars is a classic example of what the financial trading community call the “big market delusion”, which usually happens when a new market is created or an old market disrupted through innovation. All the different players get valued as if everyone will win because nobody knows how things will play out. The cannabis market where shares in firms that sell cannabis based products in US states where the drug has been legalised is another example.

Of course, Musk would argue that Tesla is not just another carmaker but a software-enabled business that will overturn the old economics of the industry before turning its sights on robotaxis, self-driving trucks, battery technology and more. Indeed, his new job title kind of makes exactly this point. 

But the short-sellers in the established sector of the market who are betting on Tesla stock prices falling dramatically aren’t convinced. It’s not that they think Tesla is a bad investment at the right price. Clearly the future is electric with western governments calling time on the internal combustion engine. But the sceptics believe that the company’s share price has gone way beyond a basic appreciation of those facts. And their logic is sound. There’s only one problem. 

 Tesla doesn’t have ordinary consumers and shareholders but fans. And, as any follower of English football will tell you, the well from which a true fan draws their misplaced optimism is almost fathomless. But the Tesla bubble is something different again. Apart from being fans of Tesla, fans of Technology and fans of fantasy fiction, many of the new breed of investor understand that they are behaving irrationally while co-ordinating campaigns on social media and entreating each other to hold onto stocks with “diamond hands” even in the face of overwhelming evidence they should sell. 

The traditional investor was looking for a reasonable risk-adjusted return in order to fund their retirement. The new breed rallies to a banner emblazoned with the acronym “YOLO” – you only live once. They are not investing in Tesla because of its p/e ratio or in the hope that sky high share valuations go interstellar; they are investing because of who they are and how it makes them feel. They are investing because Greta Thunberg. They are not investing in business but in causes, to sen a politicical message to ......... we're not sure who. 

Identity politics has morphed into identity investing. And there are signs this new brand of shareholder won’t be put off by the next big market correction as their predecessors were when the dotcom bubble burst. 

A recent survey of US retail investors conducted by Deutsche Bank found that respondents are planning to invest over a third of any stimulus cheque they receive from the Government in equities (is that a money-laden helicopter I hear?) and will treat any sell-off as a buying opportunity.

The very fact that Deutsche Bank conducted such a survey clearly demonstrates that traditional market participants are starting to realise they need to figure out a way of analysing the phenomenon and incorporating it into their own models.

The default assumption must remain that economic gravity will reassert itself in the end. But it may take a lot longer than we mere technosubjects had supposed.

But a cautionary note for potential investors on Musk's "achievement" in getting Tesla into profit. All Tesla's profits to date have come from selling government issued carbon credits to conventional auto makers that have not achieved the unrealistic targets set by 'woke' politicians for reducing emissions. So hailing Tesla's incursion into profitability is a fraud, they are still losing vast amounts on auto making operations.

The carbon credits system is itself a fraud, as independent analysis has shown the shift to electric propulsion does not reduce emissions, it merely shifts them away from the back end of the vehicle to pre - build processes such as mining and processing cobalt and lithium and other rare earth metals and the equally polluting battery manufacturing process.
This article on investors website The Motley Fool explains how Tesla's business model is dependent for its profitability on government handouts.
https://www.fool.com/investing/2020/07/26/teslas-biggest-profit-driver-isnt-sustainable.aspx

 

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VW Audi Suspends Electric Vehicle Production Due To Battery Shortage
Today in “news that affects all electric vehicle manufacturers”, Audi has announced that it has suspended production of its e-Tron electric SUV effective February 20 and won’t resume untilfurther notice. The suspension has been a resolve of “resolving production issues”, which are mainly attributed to bottlenecks in battery supply, according to Business Insider.

Tesla Stock Hit After German Regulator Warns Self-Driving Cars Are Unsafe

While the Tesla company and its Ubernerd founder Elon Musk have for several years been the darlings of the stock markets and the media, things may be changing. Like most technology startups, Tesla talk a good launch but fail to deliver real results. Since the cars launched to widespread admirationed at the elegant design, and open mouthed shock at the huge price tags and ...

House battery to store energy will 'change entire infrastructure of the world' - or maybe not
Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Google Self Driving Car Can't Drive Itself
A lot of nerdy types have been getting very excited about the self - driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it's the Google wankermobile that turns them on.

All The Reasons You'll Ever Need For Not Buying An Electric Car As Tesla Electric Car Turns Into Firebomb after Collision.
The electric car thing will not go away will it, ever since the science tits who work for Big Tech started proposing that electric cars are the future it has been proved many times in many ways that they are not. Cost, extremely limited range and safety are mong the reasons. And here as a Tesla goes up in smoke, is another ...

Google Car Driverless Because No Sane Person Would Be Seen Dead In One
A few years ago Google boss Eric Schmidt said the company's aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.

Electric Car Mini Adventure
Keep The Engine Running
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Driver Friendly Roads
Rare Earth
Reasons To Hate The Toyota Prius
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Ford Warns Electric Cars Are Only For The Rich
German politician calls on facebook to abolish free speech
A German politician has given the clearest indication yet that the political elites of the free world are ideologically much closer to Adolf Hitler's National Socialists than the social liberalism they claim to support. Free speech is the basis of all liberal democracy. Heiko Maas, the German justice minister has has written to the Facebook it removes “xenophobic and racist” anti-migrant posts from its website and apps., has written to the company to demand an urgent review of its policy over hate messages.

Free Speech Is Being Murdered By The Media And Left Wing Authoritarianism
Without free speech there is no democracy. Without democracy there is no freedom. But all over the developed world free speech is under attack from politically correct politics. It is time to start resisting, do not believe the propaganda published by mainstream media, question everything and make up your own mind. as The Buddha said, "Believe nothing you read or are told unless it agrees with your own experience and common sense."

Farage Reckless Facing Rabid Left Wing Fanatics
Following the defection to UKIP of Conservative MP Mark Reckless, who yesterday shocked the media and political establishment (everyone else knew it was on the cards.) by announcing his switch from con to Kipper from the podium at the closing session of UKIP's conference, the Kippers latest recruit and his new leader yesterday faced angry but ineffectual protests

Farage Reckless Facing Rabid Left Wing Fanatics
Following the defection to UKIP of Conservative MP Mark Reckless, who yesterday shocked the media and political establishment (everyone else knew it was on the cards.) by announcing his switch from con to Kipper from the podium at the closing session of UKIP's conference, the Kippers latest recruit and his new leader yesterday faced angry but ineffectual protests

Obama administration ‘blocking' information from the press
Uncovering information that should be available to the public has become increasingly difficult under the presidency of Barack Obama, an Associated Press bureau chief says. In some cases, it surpasses the secrecy of the George W. Bush administration. The White House's penchant for secrecy does not just apply to the federal government, according to AP's Washington bureau chief, Sally Buzbee.

Western Hypocrisy In Reporting News about Ukraine And Russia
The opening paragraph of a CNN report on the latest developments in the crisis in Ukraine illusrate perfectly the hypocrisy of Western media in the way they cast Russia as the danger to world peace and America as bringer of freedom and democracy. In fact in the crisis over the US attempt to draw Ukraine into NATO the positions taken by the USA abd Russias are the opposite of the 1962 Cuban Missile Crisis.

Scandal hit Rotherham ‘deleted abuse files’
In a move that puts them among the contenders for lying, self serving shits of the decade, but still in a league of their own un terms of complete and utter shittiness, it has emerged that the scum sucking scab lice of Rotherham Council's controlling Labour group and the public servants they employed had deleted files in order to cover up their complicity in the blatant and systematic child abuse perpetrated under the noses of council officials.

Centralized power - the worst of all possible worlds
The centralization of power over the past few decades in nations of the developed world has led to the evolution of a sociopathic managerial class formed mainly from the old petite bourgoisie who have now gravitted to public sector careers where their delusions of social status and the unaccountability of office lead them to abuse such power as they have.

Kick Political Correctness Out Of Football
As another football versus politiocally correct authoritarianist brings 'the beautiful game' even further into disrepute, we wonder is it time to kick politically correct authoritarianism out of sport.

Intrusive Surveillance Technology, Internet control freaks and The Orwell-Huxley-Dick Dystiopianometer
Are privacy campaigners right to be worried about intrustive internet technology and the massive databases that log our behaviour and parse the data for patters that enable us to be targeted for advertising? Should we bee worried by surveillance or are those that raise doubts just scaremongering? The Orwell-huxley-Dick dystopianometer is rising.

So Who Is Anti - science? Those Who Question Climate Change Or Those Who Would Abolish Free Speech
It was looking as if the global warming scare was dead, then that Nazi shit Barack Obama, seeing his dream of being President Of The World slipping away, gave his science whores enough money to enable them to kick some life back into it. Now the "science" lobby, unable to put together an convinging argument against their challengers are demanding the abolition of free speech.

New World Order War On free Speech Comes To Britain - Guardian editor accused of treason
The right to free speech is under threat from intolerant, authoritarian elitists, call them The Illuminati, New World Order, Scientific Dictatorshgip, Global Elite, whatever. Their goal is absolute power and they know that while the right of free speech, the free press and free access to information exist they cannot succeed.

How academic debate is suppressed on science topics like Climate Change, GMOs, Pesticides and Toxicity of medicines
Intellectual intolerance and the supposed superiority of the scientific education have led not just to the politiciisation of science but to it's being seduced by corporate money and political power. Science was ever fascism's whore of course and the egos of scientists are easily bought. This has led to a very unhealthy emergence of dogmas and orthodoxies and an intolerance of the dissent that is essential if scientific research is to have any credibility.

Tesla Tumbles After JPM Releases Scathing Report On Chatotic Management

Beleagured Tesla CEO Elon Musk may be about to suffer another public meltdown on Twitter after
bankers JP Morgan issued a note that acknowledged what it seems that everybody already knew: Contrary to Musk's statement at the beginning of last week that he had secured funding to take Tesla private, the money has not, in fact, been secured. To add insult to injury, J.P. Morgan lowered its price target on Tesla stock by about 30% to $195.

After Friday's plunge in Tesla shares following the publication of a bizarre interview in the NYT with CEO Elon Musk which revealed the state of his emotional breakdown, Tesla shares are down another 6% this morning, trading in the $280's in the market. An extract from the statement reads:

We are reverting to valuing Tesla shares on the basis of fundamentals alone, which entails a $113 reduction in our price target back to the $195 level where it stood prior to our August 8 note in which we newly weighted 50% in our valuation analysis a go-private scenario for which funding was at that time said to have been secured to take the company private at $420 per share.

JPM had commented in a somewhat mealy mouthed style that "As surprising to us as these developments are, and as lacking as the statements are in any details regarding whom is expected to provide the required amount of financing and on what terms, they are nevertheless declarative statements from the CEO of a public company which we feel should be considered seriously. Either funding is secured or it is not secured, and Tesla’s CEO says funding is secured.” The bank added that “Our price target could move up or down based upon further developments affecting the likelihood the transaction will or will not go through.”
Fast forward to today, when for at least one bank, the going private deal is now dead.

Subsequent events have obviously led JPM to believe that funding was not secured for a going private transaction, nor was there any formal proposal, it was just Musk failing to put his brain in gear before being let loose on Twitter.

Mother Of Mercy, Is This The End For Elon?

 
"Mother of mercy, is this the end for Rico" - death scene of Edward G Robinson as the gangster in the classic 1930s film Little Caesar.

Elon Musk told a New York Times reporter in an exclusive interview he is suffering the effects of the most painful year of his career, as he deals with production deadlines, technical problems and safety issues for his Tesla car company, the fallout from a federal investigation over Stock Market manipulation and the concerns of worried friends.

He reportedly broke down multiple times during the emotional interview as he admitted his responsibilities were taking a personal toll.

“This past year has been the most difficult and painful year of my career,” he said. “It was excruciating."

By early Friday afternoon, Tesla’s shares had fallen over 8%, wiping about $4bn off the company’s value.

Musk, whose company posted a record $709.6m net loss in the first quarter of this year while struggling to manufacture large numbers of its Model 3 mass-market electric car, said he had been working up to 120 hours a week and his health had been “not great”. He said his friends had been worried about him.

Musk said there were times he didn’t leave the factory for three or four days at a time and days when he didn’t go outside.

He said he spent the entire 24 hours of his 47th birthday in June at work and flew directly to his brother’s wedding, where he was due to be best man, from work, arriving two hours before the ceremony and leaving immediately afterwards.

It has also been reported that Tesla executives are increasingly worried about Musk's reliance on Ambien to help him sleep and its possible effects on late-night Twitter sessions.
Various episodes of bizarre behaviour have provoked a string of headlines and led to growing concerns about the billionaire's stability and the turmoil in Tesla’s share price as markets responded to his outbursts.

He recently berated analysts for asking boring questions during an earnings conference call, accused a British diver who helped rescue a Thai football team trapped underground of being a paedophile, and last week published a tweet claiming he had secured funding to take Tesla private, sparking a rollercoaster ride for shareholders that is now under investigation by the Securities and Exchange Commission.

Mr Musk has long delighted in his reputation as one of Silicon Valley’s brashest entrepreneurs but admitted exhaustion was taking its toll.

“It’s not been great, actually,” he said. “I’ve had friends come by who are really concerned.”
Tesla is also being sued by several investors after Musk' surprise (and completely fantastic as it turns out,)announcement that he planned to take the company private, following his failure to progess from a niche business making overpriced, pimped up mobility scooters for Hollywood liberals with more money than sense into a major car maker competing with Mercedes, BMW, VW Audi, Land Rover Jaguar and Lexus

The Robotification Of Human Society Is being Implemented

Are you ready to surrender your humanity to science, accept having computer chips implanted in your skull that will link your brain to the internet (via a Google server) and let your life be controlled by machines? That's what The Controllers are planning for you ...

Internet Access As A Human Right?A survey carried out by the BBC found a majority of people around the world believe internet access should be a basic human right. We suspect a bit of statistical rigging because the majority of people in the world live below the poverty line and probably have more urgent priorities than surfing the net.


Is The Internet Making Us All Stupid.The more gullible and wide eyed among academics like to burble ecstatically about how the internet has ushered in a new age of creativity. We have to wonder just how much time these self styled experts have spent surfing scial networking sites



Web Induced DementiaIn most civilised societies there are laws governing what outrageous claims advertisers can make for their products. This does not apply on the web it seems, where 'revolutionary new world changing technology' means 'not fit for purpose'



Is Technology Creating Physical and Psychological Hazards In The Digital Age?

Scientific research used to be the area of work that trailblazers, those with an unquenchable desire for new experience and a hyperactive sense of adventure wanted to be involved in. Now those who label themselves 'scientists' seem to have become the high priests of an ultra - conservative religion, determined at all costs to block progess that may lead to understanding that the dogmas of the past are just wrong

The Mummers: The Controlling system And The Illusion Of Freedom

We live in a world of deception, where truth is an ephemeral thing, slippery as an eel and shadowy as a spectre. What we are expercted to perceive as reality is just spin and misinformation designed to ensure the elite maintain their control. There's eff all you can do just get on with your life, say the shills
for big government and authoritarianism. But are we really nothing more than slaves of the system?

Google's Brave New World Of Artificial Intelligence - And The Destruction Humanity

Almost every day we hear scientists burbling about artificial intelligence and how very soon machines will be smarter than humans. As scientists are nowhere near as smart as humans its hard to see how science can build something smarter. The problem is of course we don't understand what contsitutes intelligence - those who think academic qualifications are the only indicator are retards. So where will this madness to replace us with machines end?

Don't be Evil, Google Will Do It For You

Google have abandoned their "Don't Be Evil motto. Good thing really, they are becoming more evil every day. The latest plans to integrate our brains with their servers may seem like a science fiction freaks wet dream, but these creepy nerds are serious ...
You Get What You Deserve.

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Hurricane Harvey Climate Catastrophe Man Made?

As we reported last week the Hurricane Harvey disaster which has hit the U.S. states of Texas and Louisiana has shown characteristics never before observed in any hurricane or tropical storm since records began. Meteorological depressions (because that is what hurricanes, typhoons and other intense storms are,) move and once over land quickly weaken as air pressures become normalised. Harvey has stayed in the same area, dumping massive amounts of rain on the heavily populated coastal strip and causing Sbillionsworth of damage through flooding and high winds.

Some scientists have now joined the professional sceptics in questioning whether Harvey is the latest example of covert weather warfare being waged on completely unsuspecting populations. Such activity has been hinted at (but not proved conclusively) by leaked documents and whistleblowers, and is alleged to involve NASA and DARPA (the Defense advanced Research Projects Agency.) The existence of HAARP (High Auroral Atmospheric Research Project) in Alaska is now officially acknowledged and Freedom of Information laws have forced officials to admit experiments in weather control have been carried out. It is known that governments of Russia, China and Iran have conducted weather control programmes using technology based on the theories of Nikola Tesla

Increasingly catastrophic climate cataclysms appear to be orchestrated and manipulated by an ever more desperate and aggressive global power structure. Rapidly accelerating climate and biosphere collapse is not somewhere on the horizon, it is here, now. And it has little to do with Carbon Dioxide emissions. Attempts at Climate engineering (carried out by irresponsible scientists who haven't a clue of the possible long term consequences,) are is further fueling the disintegration of the delicate structure that holds together the natural life support systems of our planet. With undeniable facts and film footage in the video below fully exposes the manipulation of Hurricane Harvey, starting from the fact that where hurricanes can usually be seen building out in mid Atlantic, this one appeared suddenly from nowhere.

Climate expert and passionate debunker of global warming theory Judith Curry says:

The 12 year drought of major hurricane landfalls in the U.S. is over, with catastrophic impacts in Texas. Predictions of Hurricane Harvey illustrate the realization of extended and long-range hurricane forecasts.

This blog post analyzes the forecasts of Hurricane Harvey made by my company Climate Forecast Applications Network (CFAN), and also by the National Hurricane Center. READ MORE >>>

It is worth noting that the first man-made climate disaster took place in Britain in 1952, when a flash flood claimed many lives in Lynmouth, small town in south west England. And the truth, that the British Defence Ministry had been conduction cloud seeding experiment on the uplands above the town prior to the flood did not emerge until fifty years later when, under UK laws, certain documents were de classified.

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Being Evil? Just Another Day At The Office For Google Boss.

Google boss Eric Schmidt has defended Google's barely legal tax avoidance practices saying Googl;e's contribution to UK national life is more important than the money they owe us. boycott Google, Big is a good serach engine.

Has Blogging Finally Died?

My traffic to this blog has gone down the pan. I have not been doing a lot to promote my blog recently I admit. So what is he complaining about? you might well ask. The reason I stopped putting the effort in is there seems to be nothing I can do attract readers now. Since Google introduced it's ...

Facebook's Stockmarket Launch Fizzles Out

Facebook's much hyped stock market launch fell flat. We examine the folly of trying to pass off a social networking fad as a real, monrey making business.

Google's New Privacy Policy: 'All Your Base Belong Us'.Google has defended its decision to change the way it handles users' personal data as its new policy comes into force today. The internet search giant will now be able to use information about what people are entering into its search engine to target adverts according to users' interests under the changes.
Google Evil Empire In New Privacy ViolationOnce again the neo-Nazi nerds at Google are in trouble for playing fast and loose with our privacy. Google have bypassed browser privacy setting to track our movements on the web, the bettrer to target us with ads for poxy shite no sane person would buy. What is it these arseholes find difficult to understand about the idea that in the real world or cyberspace same rules apply ...

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How The Google Algorithm Scam Works

Now Google Plans To Hijack Your Car

Google and Skype tie up threatens your indiidualism

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Tell the internet I am a human being not a computer

Sociologist says the internet is a threat to civilisation

Apple's iPad will not rewrite the book

We are becoming slaves of the machine

Google, web pirates and censorship

Google boss slams Britain

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France to 'ban all petrol and diesel vehicles by 2040'

France plans to impose a total ban on all petrol and diesel vehicles by 2040, its new environment minister, Nicolas Hulot, has announced. We told you after the French elections the new president, the grandmotherfucker Macron, was a clueless idiot who would continue the same politically correct globalist agenda that led to the failure of his predecessor Francois Holland's government and the near complete collapse of the socialist party.

The unrealistic plan was one of a series M. Hulot revealed at a press conference this morning as part of French president Emmanuel Macron's plans to make France a carbon neutral country by 2050. All around the developed world, sustainable energy experiments are failing, with only the long established hydro - electric technology and nuclear fission as realistically reliable energy sources for clean electricity there is nothing to support such ludicrous claims. There is however, plenty of evidence to show Macron's government is descending into farce even more quickly than that of socialist Francois Holland. With the 'scientific' case supporting Carbon Dioxide driven global warming in ruins (see article below), this latest idiocy merely compounds the impression that France is being run by a bunch of student protestors.

Can it be coincidence that President Macron's environment minister is the namesake of comedian Jaques Tati's greatest creation, the shambolic Monsieur Hulot, a sort of proto - Mr. Bean (video clip: Mr Hulot's holiday.)


Hulot, the apprentice politician, a former star wildlife TV presenter, announced "the end of the sale of petrol or vehicles between now and 2040."

French car owners will be offered financial inducements to scrap their conventional vehicles - including second-hand ones - for clean, green, pimped - up mobility scooters, he said, without providing more details.

Mr Hulot cited the example of a "European maker" who had already decided to go electric. This was a reference to Volvo, which on Wednesday announced plans to build only electric and hybrid vehicles starting in 2019, making it the first major car manufacturer to abandon cars and SUVs powered solely by the internal combustion engine.

CEO Hakan Samuelsson told reporters the move was prompted by customer demand although other makers are not reporting any rush to buy overpriced, underperforming electric cars. He pledged that in two years, all new Volvo vehicles will have some form of electric propulsion. This is obviously a lie, we know Swedes are politically correct to the point of stupidity and beyond, but sales of electric vehicles are only increasing marginally year on year in spite of government subsidies to buyers. When Denmark ended tax subsidies on electric vehicles, raising prices for 2017 sales by 40%, sales plummeted to less than half of what they were.

"The solutions are there, our own makers have in their boxes the means to fulfill this promise," said Mr Hulot, calling it a "public health" issue. Well maybe the solutions are out there, but not in Denmark obviously.

One of the solutions? I will not be giving up my sports car any time soon. (image source: The Independent)

France is by no means the only country aiming to ban combustion-powered cars in some form. Germany wants to do away with 100 per cent combustion-powered vehicles by 2030, as does India. The Netherlands and Norway wish to do so by 2025.

It was not immediately clear if Mr Hulot meant a ban on even partially petrol or diesel-powered vehicles.

The minister also said that France will stop producing power from coal-power stations - now five per cent of the total - by 2022. The country also wants to reduce the proportion of its power from nuclear to 50 percent by 2025, from the current 75 per cent.


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Clean Green Power Sucks - China Goes All Out For Coal


The lying leftie paskudnyaks clean, green, save the planet machine and the worshippers of Greta Thunberg are always eager to tell us that China is the world's biggest investor in sustainable energy and has more wind turnbines installed than any other nation on earth. It is the worst kind of lie because it is true, but only tells half the story. And sometimes being told half the story creates completely the wrong impression in the mind of the audience.

VW Audi Suspends Electric Vehicle Production Due To Battery Shortage
Today in “news that affects all electric vehicle manufacturers”, Audi has announced that it has suspended production of its e-Tron electric SUV effective February 20 and won’t resume untilfurther notice. The suspension has been a resolve of “resolving production issues”, which are mainly attributed to bottlenecks in battery supply, according to Business Insider.

Electric Cars Too Expensive
Yesterday we highlighted the reasistic journey ranges achieved by the much acclaimed but basically useless Chevvy Volt. Today we read this story from one of the car industry's giants. In August 2015, Ford's chief financial officer has warned predictions of a surge in electric car sales are "very ambitious", as next generation vehicles dominate the Geneva Motor Show.


Electric car with free fireworks display

We have been sceptical of claims that electric cars and hybrids will save the planet since the hype began. Lithium the only realistic material for batteries is not in plentiful supply. Processing and purifying lithium is a filthy and energy intensive process as is the recycling of clapped out batteries. A switch to electric cars simply moves pollution from the vehicle to the factory. Electric cars would be more polluting that hydrocarbon powered vehicles ...

Tesla Stock Hit After German Regulator Warns Self-Driving Cars Are Unsafe


While the Tesla company and its Ubernerd founder Elon Musk have for several years been the darlings of the stock markets and the media, things may be changing. Like most technology startups, Tesla talk a good launch but fail to deliver real results. Since the cars launched to widespread admirationed at the elegant design, and open mouthed shock at the huge price tags and ...
House battery to store energy will 'change entire infrastructure of the world' - or maybe not

Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.
Google Self Driving Car Can't Drive Itself

A lot of nerdy types have been getting very excited about the self - driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it's the Google wankermobile that turns them on.
All The Reasons You'll Ever Need For Not Buying An Electric Car As Tesla Electric Car Turns Into Firebomb after Collision.

The electric car thing will not go away will it, ever since the science tits who work for Big Tech started proposing that electric cars are the future it has been proved many times in many ways that they are not. Cost, extremely limited range and safety are mong the reasons. And here as a Tesla goes up in smoke, is another ...
Google Car Driverless Because No Sane Person Would Be Seen Dead In One

A few years ago Google boss Eric Schmidt said the company's aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.
House battery to store energy will 'change entire infrastructure of the world' - or maybe not

Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.
Google Self Driving Car Can't Drive Itself

A lot of nerdy types have been getting very excited about the self - driving cars being developed by Google. Being nerdy they are not making such a fuss about the decent looking rides being developed by the likes of Mrecedes Benz, General Motors and Toyota. No, it's the Google wankermobile that turns them on.
It's The Car Of The Future - And It Runs On Petrol

How long have those research grant phishing, statistics rigging, peer review fiddling sciencheads been telling us the car of the future would be powered by electricity? This was despite their best efforts after Squillions of Dollars, Pounds, Euros and Yen only having produced a hybrid that required both an electric motor and an internal combusion unit to .
Google Car Driverless Because No Sane Person Would Be Seen Dead In One

A few years ago Google boss Eric Schmidt said the company's aim was to get as close to creepy as they could without crossing the line. Well they had crossed the line long before he said that. The latest Google wirdness is the much hyped driverless car. It looks as if it was designed by a five year old. On the other hand it might be the ideal car for paedophiles who want to go cruising for jailbait.
How expensive are electric cars

Electric Car Mini Adventure

Keep The Engine Running

Just Drive

Driver Friendly Roads

Rare Earth

Macron Threatens G20 On Climate Then Backs Off
France's boy president and current climate scaremonger in chief and leading European federalist Emmanuel Macron arrived in Japan for the G-20 summit full of sound and fury, which like the stuff of Macbeth's soliloquy in Shakespeare's play turned out to signify nothing.France's boy president and current climate scaremonger in chief and leading European federalist Emmanuel Macron arrived in Japan for the G-20 summit full of sound and fury, which like the stuff of Macbeth's soliloquy in Shakespeare's play turned out to signify nothing.

Reasons To Hate The Toyota Prius

Renewable Energy Con

V2G Technology


Pigs WILL Fly (poem)

The Internet Of Things