• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 7 hours Oil prices going Up? NO!
  • 17 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 16 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 2 hours The Tony Seba report
  • 21 hours Oil prices going down
  • 1 day Could oil demand collapse rapidly? Yup, sure could.
  • 3 hours Saudi Arabia turns to solar
  • 15 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 2 days Oil Buyers Club
  • 9 hours Kenya Eyes 200+ Oil Wells
  • 8 hours Are Electric Vehicles Really Better For The Environment?
  • 2 days Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 23 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 days Gazprom Exports to EU Hit Record
  • 2 days Could Venezuela become a net oil importer?
  • 23 hours Tesla Closing a Dozen Solar Facilities in Nine States
Canada’s Oil Crisis Is Far From Over

Canada’s Oil Crisis Is Far From Over

While the Canadian government has…

OPEC Confident Global Oil Demand Will Stay Strong

OPEC Confident Global Oil Demand Will Stay Strong

The OPEC technical panel has…

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