Good Judgement?

Market Watch: Judge wants Musk, SEC to justify settlement

The judge's question seems reasonable to us, because
the very light slap on the wrist given to Musk and Tesla would do little to nothing to dissuade similar misstatements, apprent manipulation or outright fruad in the future from executives of this or other companies.

We do however appreciate the S.E.C.'s attempt to stop Musk from his continual hyperbolic (at best) statements, especially via social media and surrogates, which have helped to pump the stock constantly and lure in hapless investors and customers who we believe will come to severely regret their decision to prop up this company and represent its products.

Here's just a small sample of major material misstatements, false promises and predictions that didn't come true made by Musk:

We've detailed many more in recent weeks in this blog.

Here's an example.

This video is especially worth watching.

And read this recent lawsuit.  There are many like it.

Samples (click to enlarge; it'll pop up in a new tab):

Considering his mocking tweets since his S.E.C. settlement just days ago, such as the one quoted at bottom of the article linked at top of this post, which is arguably a flagrant violation of the settlement terms, these links seem highly relevant:

HelpGuide: Tips for Spotting and Coping with a Narcissist

Journal Of Business Ethics:  Accounting as a Facilitator of Extreme Narcissism

"We argue that the special features possessed by financial accounting facilitate extreme narcissism in susceptible CEOs. In particular, we propose that extremely narcissistic CEOs are key players in a recurring discourse cycle facilitated by financial accounting language and measures. Such CEOs project themselves as the corporation they lead, construct a narrative about the corporation and themselves using financial accounting measures, and then reflect on how their accounting-constructed performance is perceived by stakeholders."

And what of the buyers of Tesla cars?

It seems like they're seeking punishment or lack self-respect.

Marvel at these posts in the Tesla Motors Club forum.  There are dozens, even hundreds of pages just like it across the internet.

Even on the company's own web forums we read an overwhelming amount of tales of woe and what seems to be fraudulent or at least unethical practices.

While the executives of this company dig its grave, its competitors - respectable and reliable auto manufacturers such as Cadillac, Honda, Toyota, Kia, Nissan, Jaguar, Daimler (Mercedes), BMW, and Audi, among others -  are increasingly developing and offering new, arguably far superior, electric vehicles and related partnerships and technologies.
 
We are short Tesla.



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