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Wasn’t this work done during the SolarCity years?
by omfg 7y ago
Wasn’t this work done during the SolarCity years?
- std_throwaway 7y agoSolarCity is now part of Tesla.
- ABeeSea 7y agoWhen you buy a company, you also get their liabilities.
- Clent 7y agoI found that interesting as well. The article is trying to link solar panel failures to Tesla vehicle failures. They were not born from the same company nor process. It seems whatever generated the story was looking for some segue into how the price is down. The stock price was affected by the market's new knowledge. They both contain words for fire but are otherwise independent and distant events in Tesla's history. A more likely scenario is these liabilities that Tesla acquired a couple of years ago had otherwise gone unnoticed. They have now been noticed and the market will risk the outcome of Walmart and all of these other Solar City contracts. The potential risk of these contracts is what is weighing on Telsa's stock price, not a handful of vehicle fires.
- gcbw3 7y agoMy friends at SolarCity never had to work 70h in a week before Tesla acquired them (nor work weekends installing solar panels on Musk mansion in L.A.) So it might very well be the result of the same company and processes.
- CrazyStat 7y agoSo your friend had better working conditions during the same time period this work was done (before the acquisition)?
- gcbw3 7y agoinfinitely better, yes. They had more time out of work, no nights or weekends, and since the acquisition, the layoffs cut the team in 1/3.
- nothrabannosir 7y agoHonestly with all the Tesla shorts trolling HN, an unsubstantiated comment like this from a fresh account is very suspicious. Can you post from an account with more comment history?
- briandear 7y agoNobody is moving markets with a HN comment. Suggesting astroturfing is against the site guidelines anyway.
- dang 7y agoThis comment breaks the site guidelines. Would you mind reviewing them? https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- gamblor956 7y agoIt was originally SolarCity that did the work, but SolarCity was acquired by and merged into Tesla. The surviving entity was Tesla, so Walmart sued Tesla. (SolarCity's debts actually represent the majority part of Tesla's debt load and is part of why Tesla has been struggling financially despite 19%+ margin on each car sold.)
- elcritch 7y agoIs there a good place to find those numbers? We always hear about Tesla debt but not the distinction of solar city debt.
- gamblor956 7y agoTheir SEC filings. In a nutshell, the overwhelming majority of Tesla's debt is Solar City's debt.
- dehrmann 7y ago> They were not born from the same company nor process But their founders are cousins.
- HNcantBtrustd 7y agoSolar City was a terrible deal for Tesla shareholders. I'm surprised it happened. But back then the koolaid was stronger