Recent content by The Accountant

From what I understand (and have seen), a company called Broadridge handles the proxy voting process for most companies and they can provide real-time results to the company during the proxy voting period.

We just heard that 90% of retail shareholders who have voted thus far voted yes for both the comp plan and Texas move.

Ahh - you did more than that. You made it political by referring to MAGA.

I misread a post yesterday and replied rashly; after I re-read the post I deleted my reply.

I hear the complaints about what Elon has said in the past about FSD progress and I don't have the same sentiment. Why? I don't look to his X posts for progress, I look to my own experience on FSD and see that we are progressing quickly. I have this edge case in my town. A roundabout where 2...

What's causing the math problem I think is the horrible way GAAP accounting works. When issued in 2018, the Black Scholes Model that is used to determine expense in the P&L computed that the expense was $2.3B. If you take the same award today and use the Black Scholes model with the same strike...

Yes - over the years as the tranches were achieved, Tesla recorded $2.3B in charges (stock based compensation - all non-GAAP & non-cash charges). If the current comp gets re-instated as if nothing happened, then no impact to P&L. If they need to void old comp and re--issue a new comp (with same...

CYBERCAB FINANCIALS Until now, I have never performed an analysis on the potential financial impact of the Robotaxi/Cybercab. The cybercab was excluded from my long range estimates. I completed a high level analysis recently. I took Uber's 2023 financials and adjusted them as if they ran a...

I have no qualms about your opinion of Musk as CEO. People have different opinions and I respect that. I have not been following this entire discussion but I want to share something that may provide an alternate perspective to Musk's words. When Musk made the very specific proclamation 7 and...

I believe @MP3Mike clarified this. Elon's options are included in the fully diluted EPS calculation but the shares are not in the float. Shares authorized at March 2024 are 6B . . . . but shares outstanding are a little over 3B. When Elon exercises, Tesla will issue new shares. Fully Diluted...

I tend to agree. I believe many, if not most people, are not caught up in the drama of Tesla the company or Elon the man. I was reminded of this when I had a chance to talk to the owners of the first Cybertruck I saw in the wild. On this particular Saturday, this husband and wife were practicing...

I have seen several times in my career where a department was reorganized lets say from 100 people to 40 people. A new organization structure would be drawn up for the 40 positions (with job descriptions). Of the 100 existing positions some would be let go immediately (say 30) and the 70...

The answer from @Doggydogworld is correct. I think you may see people refer to EBIT and Adjusted EBIT. Adjusted EBIT adds back Stock Based Compensation ("SBC") expense. I provide the numbers here: $1,129m Q1 Earnings $ +409m Income Taxes $ +76m Interest Exp $ -350m Interest Income...

Yes, I am assuming if there are re-hires, they won't arrive in Q2. I was trying to estimate the impact to the P&L in Q2. But this was just a high level attempt.

I calculate that Tesla has about $5B in personnel costs each qtr and thus a 10% cut should yield $500m in savings per quarter. The restructuring charge will be $350m, so perhaps this is a wash for Q2 depending on when people exit.