Anti-Tesla Gibberish

[jhs_7645]

I got a reply from Mr. Johns

These are valid points that I have addressed with corporate. They are looking into it.

[Cobos]

This is very nice indeed jhs_7645. I'm impressed that the editors that got the syndicated content actually cared enough to start a dialog. There are quite a few factual errors as well as a strange focus in the article but it's going to be interesting to see if anything happens.

Cobos

[jhs_7645]

I'm not sure it will make a difference, but I'm using this as a lesson to my kids in how we shouldn't let people in a position of influence get away with lies... very idealistic, pie-in-the-sky stuff, but hopefully something good will come of it.

[NigelM]

@jhs_7645: Generally, these deposits are not held in escrow accounts and are not protected from a bankruptcy, they are used as working capital. I'm not familiar with interstate commerce laws and whether for some people (e.g. in your State) the deposits might have different legal protection.

[jhs_7645]

I'm not familiar with other state's laws, only my own (Washington), which are that Tesla must hold my deposit in Escrow. I would imagine that *some* other states have this protection as well. My point in the message was that a blanket statement about everybody losing their deposits is incorrect. In my sample of 1, it is patently false.

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Interesting, according to this: http://dealbook.nytimes.com/2012/03/22/teslas-ambitions-fueled-by-customer-down-payments/ Washington is the *only* state where Tesla cannot use the deposits for working capital.

[rolosrevenge]

And since WA has a high level of Model S reservations, each one they deliver here out of the first 10,000 will look better for their balance books than anywhere else since they'll be able to realize the full revenue and they haven't been able to use any of the deposits so far. That's good news for the stock.

[NigelM]

Even where the deposits were not held in escrow, Tesla could use the cash but could not recognize any of it as revenue. Revenue recognition of a deposit is only allowed when an MVPA is signed.

[mlascano]

One of the most inaccurate, slanted, piece of crap articles yet...

Jim Hillibish: Thanks to us, the wealthy have a new road toy - Canton, OH - CantonRep.com

Wow! The comments are amazing, so much hate for this car/company from people who clearly know nothing about other than having read this piece of crap.
Sad to see this stuff fuels the misguided passions of so many voters in my state...

[Beavis]

Even where the deposits were not held in escrow, Tesla could use the cash but could not recognize any of it as revenue. Revenue recognition of a deposit is only allowed when an MVPA is signed.

Recognized upon delivery per the 10-K.

[TEG]

http://www.autogasforamerica.org/pdf...rief_11.25.pdf