Tesla have tested employees for drugs (for obvious reasons) - you can kinda see how it looks bad if their CEO smokes weed.
Plus it just adds to the meltdown
Elon Musk's epic bacon adventures
- Thread starter Eboue
- Start date
Plus it just adds to the meltdown
High level employees leaving always leads to share price drops. Tesla had 2 confirmed departures and a couple that are rumored. I still think I should have picked up a couple of TESLA stocks at 250 instead of hoping they will slide to 200 dollars.
That's easy, when the head of the company publically embarrasses himself or does something illegal, some investors will divest. Optics are important.
I just remember it being stupidly narrow, like you're about to lose a wing mirror any minute.
Dunno. Any number of reasons tbh - it's no real surprise that a prominent CEO having an apparent meltdown in public spooks investors, with this coming days after the paedo thing reigniting.
Add to that weak car production numbers last week, longer-term financing concerns, the SEC probe hanging over Musk and Goldmans saying earlier this week that it sees 30% downside in Tesla's share price and you have a whole host of reasons for it to fall.
Weed is not illegal in California nowadays, is it?
I don't see it, really. Makes sense to test factory workers, sure. He's got nothing to do with it.
I see. Cheers.
Yeah doubt he's doing any safety critical work. If it's got anything to do with the weed at all, it'd probably be people selling in anticipation for a weed backlash before it actually materialised (or not).
No, California is a full recreational state.
Testing workers for medicinal cannabis should be an employer violation but I'm an investor not a labour lawyer.
Edit:
Pre-employment testing seems to be ok so far but not during employment. It depends on the state and how quickly their legislation is changing.
https://www.shrm.org/resourcesandto...ornia-employers-still-test-for-marijuana.aspx
Crikey, that is a bit of a red flag, with the accounting bod leaving so soon. could obviously be chance, but certainly looks bad. I can't begin to understand the corporate governance at a company when the CEO has such as god complex. Needs seriously strong non-execs to rein him in. Not sure any company boss has veered from inspiration to liability so quickly.
Drugs tests are generally checking if a drug is in your system though - not if you're actively impaired. If a guy is coming into work stoned then, yeah, fair enough, he should be reprimanded or fired for that, but not if he's smoked a joint a few days before and is absolutely fine.
Is it possible to differentiate with testing?
Not exactly sure, as far as I know testing is basically to determine if something's in your system or not, but I think there are impairment tests etc you can get to tell if someone's actively under the influence. Not sure which Tesla use.
I don't think it is possible to tell if X amount of Y substance found in your body was taken recently or if it's a small remainder from a previous time, and impairment tests could have 1,000 other variables to them. These tests can result in loss of jobs and also potentially major safety implications to all the work that individual has carried out (could be directly linked to safety of 100,000's of people) prior to testing so unfortunately you either use a flawed but iron-clad method or you may as well use none at all which obviously would be a terrible decision.
It's the only possible reason. The company is doing well especially with production targets. However, it's a consern when the CEO is behaving erratically.
The real reason was stated above, two senior executives abruptly leaving caused the share drop. Tesla is absolutely not a company anyone can consider is "doing well".
Relatively, aren't they? They are on course to turn their fist profit since the IPO. Not sure if I have that right.
The real reason was stated above, two senior executives abruptly leaving caused the share drop. Tesla is absolutely not a company anyone can consider is "doing well".
Tell that to the DEA.
Anyway, this isn't the only reason but it contributes to the perception that there isn't a lot of stability at Tesla.
Tesla and Musk will be fine. They have too many fanboys to fail.
Hopefully he goes broke, meets Katie Hopkins and they live their life on skid row in a pop up tent.
£57000 is pretty much feck all to him, why is the amount so low?
Still waiting to hear how he is helping flint
Tunnels
Probably just enough to buy a Tesla.
I wish Elon had just shut up so I could enjoy the SpaceX stuff properly. Bit of a sour tinge to it now.
Yeah I feel the same way - the SpaceX stuff just blows my mind and makes me feel like a kid again.
Yeah, I know people have slated it saying their goals are exaggerated, but growing up I always thought space was basically NASA or nought and it was very frustrating knowing they'd been severely limited by budget restraints.
All of sudden we have this private company with an owner who seems to have a child-like passion for it. Unfortunately he also seems to have a child-like attitude to anyone challenging him as well.
His behaviour is extremely strange at times but what's wrong with being a socialist?
It's more that he's clearly not a socialist, and doesn't seem to understand what the word means. "By the way, I am actually a socialist. Just not the kind that shifts resources from most productive to least productive" is the same as saying "I'm actually a socialist, just not a socialist". His complete disregard for the rights and welfare of workers, and his opposition to unions, also proves that he's nowhere even close to being one. He also thinks Karl Marx was a capitalist because he wrote a book entitled 'Das Kapital'. He's literally an idiot.
Google alert tells me Tesla is under investigation from US dept of justice due to his tweets
I'm hearing radio commercials wrangling people for a class action suit for any one who lost money on Tesla stock when Musk tweeted about going private.
Perfectly justified on doing so. That tweet reminded me McAffee shilling his alt-coin of the day rather than a serious investor.