• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 2 days The Discount Airline Model Is Coming for Europe’s Railways
  • 17 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 1 day Pakistan: "Heart" Of Terrorism and Global Threat
  • 11 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 4 hours Starvation, horror in Venezuela
  • 12 hours Saudi Fund Wants to Take Tesla Private?
  • 1 day Venezuela set to raise gasoline prices to international levels.
  • 24 hours Are Trump's steel tariffs working? Seems they are!
  • 2 days WTI @ 69.33 headed for $70s - $80s end of August
  • 2 days Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 5 hours China goes against US natural gas
  • 1 day Corporations Are Buying More Renewables Than Ever
  • 6 hours Why hydrogen economics does not work
Nigeria’s State Owned Oil Company To Go Public

Nigeria’s State Owned Oil Company To Go Public

Nigeria's state owned oil company…

Why Saudi Arabia Cut July Oil Production

Why Saudi Arabia Cut July Oil Production

Saudi Arabia’s oil production in…

Tesla Locking Out Contractors Not Vouched For By Employee

Elon Musk

The push to make Tesla’s production more efficient amid record losses and high cash-burn rate has led to Elon Musk telling employees that individual contractors working for the EV maker would be denied access to Tesla’s factories and facilities worldwide, if a Tesla employee hasn’t vouched for their excellence and trustworthiness.

In a memo sent to employees and obtained by Electrek, Musk wrote:

“Please note my comment below about contractor companies and consultants. I extended the performance evaluation deadline to provide more opportunity to demonstrate excellence, but now time is up. Please send a note to HR before Monday justifying the excellence, necessity and trustworthiness by individual (not just the contractor company as a whole) of every non-Tesla person who has badge access to our buildings or network access to our systems. By default, anyone who does not have a Tesla employee putting their reputation on the line for them will be denied access to our facilities and networks on Monday morning. This applies worldwide.
Time to scrub off the barnacles.
Thanks, Elon”

Tesla reported last week another record loss, albeit smaller than expected, but its stock took a hit after Musk snubbed several analysts at the conference call that some analysts described as one of the most bizarre calls.

On that call, Musk said that Tesla would start to review the third-party contracting companies because their number “has really gotten out of control.”

Musk also reiterated his view that Tesla would be cash positive in Q3 and Q4 and that a sort of reorganization is coming this month.

“I’m feeling quite confident about achieving GAAP net income and positive cash flow in Q3. This is not a certainty, but it does appear quite likely in my view. We are going to conduct a sort of reorganization, restructuring of the company this month, and make sure we’re well set up to achieve that goal. And in particular, the number of sort of third-party contracting companies that we're using has really gotten out of control, so we're going to scrub the barnacles on that front. It's pretty crazy. We've got barnacles on barnacles. So there's going to be a lot of barnacle removal,” Musk said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Kr55 on May 07 2018 said:
    Musk would have made an excellent dictator.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News