Musky

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  • pinno
    pinno Posts: 52,084
    edited November 2022
    orraloon said:

    Given the Space Karen is a proper LOMBARD, what could possibly go wrong?

    (LBOs... shake head emoji)


    seanoconn - gruagach craic!
  • Stevo_666
    Stevo_666 Posts: 60,589
    edited November 2022
    TheBigBean said:

    Stevo_666 said:

    TheBigBean said:

    kingstongraham said:

    TheBigBean said:

    kingstongraham said:

    Does that mean $13bn is the limit that those providing financing were willing to have tied up in the company rather than owed by Musk personally?

    I did a quick google and half is secured against Twitter. A quarter is a bridging loan with other security (presumably shares in Tesla). The other quarter is unsecured - presumably in Twitter.

    No idea whether it is the maximum, but presumably it is what Musk needed.
    But that $13bn debt is added to twitter's balance sheet.

    If he could have done it without also selling $27bn with of Tesla shares, he probably would have.

    https://www.washingtonpost.com/business/elon-musks-twitter-deal-is-different-than-most-lbos-heres-how/2022/11/12/7c671b64-62b9-11ed-a131-e900e4a6336b_story.html
    I'm not sure what your specific interest is, but the location of the debt isn't that relevant. If the lenders enforce their security they can move it and sell off twitter easily enough. Also if the bridging loan is secured against something else then they can sell the something else.

    The only real consideration in whether to put it in a hold co or the asset is the tax consequences.
    It's pretty standard M&A stuff.
    No one is an expert in all subjects. It's why I needed a plumbing thread. A bike forum is apparently a useful place to share knowledge though. Sadly, I'm not sure my knowledge is that useful to anyone.
    It's not that useful to those who can't understand it.
    "I spent most of my money on birds, booze and fast cars: the rest of it I just squandered." [George Best]
  • Pross
    Pross Posts: 43,135
    Jezyboy said:

    focuszing723 said:

    Time magazine named Tesla CEO and SpaceX founder Elon Musk as its 2021 Person of the Year on Monday. Time's editor-in-chief Edward Felsenthal explained the decision to pick the richest man on Earth, saying he was emblematic of 2021 and the year's most influential person.

    "Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth too," Felsenthal wrote.

    https://www.cbsnews.com/news/elon-musk-time-person-year-2021/#:~:text=Time magazine named Tesla CEO,the year's most influential person.

    I would just like to take this opportunity to add to this wonderful thread and say, not just Earth but the Universe too, with his drive towards re-usable rockets making Space travel much cheaper, what a guy.

    I thank you all in advance for the twenty likes.
    They give person of the year to any old Bozo
    They gave it to Putin in 2007, that must be embarrassing now.
  • pinno
    pinno Posts: 52,084
    kingstongraham said:

    focuszing723 said:

    Time magazine named Tesla CEO and SpaceX founder Elon Musk as its 2021 Person of the Year on Monday. Time's editor-in-chief Edward Felsenthal explained the decision to pick the richest man on Earth, saying he was emblematic of 2021 and the year's most influential person.

    "Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth too," Felsenthal wrote.

    https://www.cbsnews.com/news/elon-musk-time-person-year-2021/#:~:text=Time magazine named Tesla CEO,the year's most influential person.

    I would just like to take this opportunity to add to this wonderful thread and say, not just Earth but the Universe too, with his drive towards re-usable rockets making Space travel much cheaper, what a guy.

    I thank you all in advance for the twenty likes.
    Would you really want him as your emperor when you settle on Mars?
    No body is going to settle on Mars.
    Maybe Musk in a coffin will be sent there.
    seanoconn - gruagach craic!
  • kingstongraham
    kingstongraham Posts: 27,754
    TheBigBean said:

    Stevo_666 said:

    TheBigBean said:

    kingstongraham said:

    TheBigBean said:

    kingstongraham said:

    Does that mean $13bn is the limit that those providing financing were willing to have tied up in the company rather than owed by Musk personally?

    I did a quick google and half is secured against Twitter. A quarter is a bridging loan with other security (presumably shares in Tesla). The other quarter is unsecured - presumably in Twitter.

    No idea whether it is the maximum, but presumably it is what Musk needed.
    But that $13bn debt is added to twitter's balance sheet.

    If he could have done it without also selling $27bn with of Tesla shares, he probably would have.

    https://www.washingtonpost.com/business/elon-musks-twitter-deal-is-different-than-most-lbos-heres-how/2022/11/12/7c671b64-62b9-11ed-a131-e900e4a6336b_story.html
    I'm not sure what your specific interest is, but the location of the debt isn't that relevant. If the lenders enforce their security they can move it and sell off twitter easily enough. Also if the bridging loan is secured against something else then they can sell the something else.

    The only real consideration in whether to put it in a hold co or the asset is the tax consequences.
    It's pretty standard M&A stuff.
    No one is an expert in all subjects. It's why I needed a plumbing thread. A bike forum is apparently a useful place to share knowledge though. Sadly, I'm not sure my knowledge is that useful to anyone.
    I don't doubt it's standard stuff, but on the face of it sounds weird when explained. Especially when it's more aggressive and doesn't seem to end up with much risk to the "buyer". Here, he's thrown plenty of cash in as well, so if it goes as badly as he seems to be trying to make it, he's going to feel it.

    Not my area but I'm inquisitive. Thanks for being patient.
  • TheBigBean
    TheBigBean Posts: 21,514
    kingstongraham said:

    TheBigBean said:

    Stevo_666 said:

    TheBigBean said:

    kingstongraham said:

    TheBigBean said:

    kingstongraham said:

    Does that mean $13bn is the limit that those providing financing were willing to have tied up in the company rather than owed by Musk personally?

    I did a quick google and half is secured against Twitter. A quarter is a bridging loan with other security (presumably shares in Tesla). The other quarter is unsecured - presumably in Twitter.

    No idea whether it is the maximum, but presumably it is what Musk needed.
    But that $13bn debt is added to twitter's balance sheet.

    If he could have done it without also selling $27bn with of Tesla shares, he probably would have.

    https://www.washingtonpost.com/business/elon-musks-twitter-deal-is-different-than-most-lbos-heres-how/2022/11/12/7c671b64-62b9-11ed-a131-e900e4a6336b_story.html
    I'm not sure what your specific interest is, but the location of the debt isn't that relevant. If the lenders enforce their security they can move it and sell off twitter easily enough. Also if the bridging loan is secured against something else then they can sell the something else.

    The only real consideration in whether to put it in a hold co or the asset is the tax consequences.
    It's pretty standard M&A stuff.
    No one is an expert in all subjects. It's why I needed a plumbing thread. A bike forum is apparently a useful place to share knowledge though. Sadly, I'm not sure my knowledge is that useful to anyone.
    I don't doubt it's standard stuff, but on the face of it sounds weird when explained. Especially when it's more aggressive and doesn't seem to end up with much risk to the "buyer". Here, he's thrown plenty of cash in as well, so if it goes as badly as he seems to be trying to make it, he's going to feel it.

    Not my area but I'm inquisitive. Thanks for being patient.
    If you're really inquisitive (and bored) you might like this. Changing the debt/equity ratio has no impact on the company's value in the absence of taxes and financial distress.

    https://en.wikipedia.org/wiki/Modigliani–Miller_theorem
  • focuszing723
    focuszing723 Posts: 7,881
    pinno said:

    kingstongraham said:

    focuszing723 said:

    Time magazine named Tesla CEO and SpaceX founder Elon Musk as its 2021 Person of the Year on Monday. Time's editor-in-chief Edward Felsenthal explained the decision to pick the richest man on Earth, saying he was emblematic of 2021 and the year's most influential person.

    "Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth too," Felsenthal wrote.

    https://www.cbsnews.com/news/elon-musk-time-person-year-2021/#:~:text=Time magazine named Tesla CEO,the year's most influential person.

    I would just like to take this opportunity to add to this wonderful thread and say, not just Earth but the Universe too, with his drive towards re-usable rockets making Space travel much cheaper, what a guy.

    I thank you all in advance for the twenty likes.
    Would you really want him as your emperor when you settle on Mars?
    No body is going to settle on Mars.
    Maybe Musk in a coffin will be sent there.
    Ah, but...

    Set massive far out there goals. Massive dream like goals...

    Inspire.

    Now, look what SpaceX have achieved on that journey already?
  • rick_chasey
    rick_chasey Posts: 75,594
    Elon Musk has given Twitter’s remaining staff a Thursday deadline to commit to working “long hours at high intensity” and being “extremely hardcore” or else leave with three months’ severance pay.


    What a prick.

    "I'm on the hook for a lot of money because I got bounced into buying this thing so now you will all have to work much harder and longer hours"
    _
  • pblakeney
    pblakeney Posts: 26,954
    rick_chasey said:

    Elon Musk has given Twitter’s remaining staff a Thursday deadline to commit to working “long hours at high intensity” and being “extremely hardcore” or else leave with three months’ severance pay.


    What a censored .

    "I'm on the hook for a lot of money because I got bounced into buying this thing so now you will all have to work much harder and longer hours"
    Would be funny if everyone walked.
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • rick_chasey
    rick_chasey Posts: 75,594
    edited November 2022
    Like, it makes sense if you're all in a small shop and you're trying to get something off the ground. I'm not adverse to hard work. Everyone has equity, they've all got skin in the game and they'll make a packet if it takes off.

    But twitter is/was a massive listed corporate. That stuff doesn't fly. These guys are on a wage, with minimal bonuses.
    _
  • laurentian
    laurentian Posts: 2,501
    Be great if they all left, pooled their severence pay and used their know how to set up a rival to Twitter
    Wilier Izoard XP
  • surrey_commuter
    surrey_commuter Posts: 18,867
    rick_chasey said:

    Elon Musk has given Twitter’s remaining staff a Thursday deadline to commit to working “long hours at high intensity” and being “extremely hardcore” or else leave with three months’ severance pay.


    What a censored .

    "I'm on the hook for a lot of money because I got bounced into buying this thing so now you will all have to work much harder and longer hours"
    if you have been there 5 mins then 3 months will look like good value
  • Dorset_Boy
    Dorset_Boy Posts: 7,382
    Pross said:

    Jezyboy said:

    focuszing723 said:

    Time magazine named Tesla CEO and SpaceX founder Elon Musk as its 2021 Person of the Year on Monday. Time's editor-in-chief Edward Felsenthal explained the decision to pick the richest man on Earth, saying he was emblematic of 2021 and the year's most influential person.

    "Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth too," Felsenthal wrote.

    https://www.cbsnews.com/news/elon-musk-time-person-year-2021/#:~:text=Time magazine named Tesla CEO,the year's most influential person.

    I would just like to take this opportunity to add to this wonderful thread and say, not just Earth but the Universe too, with his drive towards re-usable rockets making Space travel much cheaper, what a guy.

    I thank you all in advance for the twenty likes.
    They give person of the year to any old Bozo
    They gave it to Putin in 2007, that must be embarrassing now.
    I'd say Putin has been the most influential person of 2022, sadly.

  • rick_chasey
    rick_chasey Posts: 75,594
    Founder of the Hogan assessment weighs in:

    https://www.hoganassessments.com/blog/understanding-elon/
    _
  • kingstongraham
    kingstongraham Posts: 27,754
    Pross said:

    Jezyboy said:

    focuszing723 said:

    Time magazine named Tesla CEO and SpaceX founder Elon Musk as its 2021 Person of the Year on Monday. Time's editor-in-chief Edward Felsenthal explained the decision to pick the richest man on Earth, saying he was emblematic of 2021 and the year's most influential person.

    "Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth too," Felsenthal wrote.

    https://www.cbsnews.com/news/elon-musk-time-person-year-2021/#:~:text=Time magazine named Tesla CEO,the year's most influential person.

    I would just like to take this opportunity to add to this wonderful thread and say, not just Earth but the Universe too, with his drive towards re-usable rockets making Space travel much cheaper, what a guy.

    I thank you all in advance for the twenty likes.
    They give person of the year to any old Bozo
    They gave it to Putin in 2007, that must be embarrassing now.
    Not really, past recipients include Hitler, Stalin and Zuckerberg. It's not an award for "best person".
  • kingstongraham
    kingstongraham Posts: 27,754
    rick_chasey said:

    Founder of the Hogan assessment weighs in:

    https://www.hoganassessments.com/blog/understanding-elon/

    "Regardless, much of the criticism seems to be inspired by critics of Musk’s political views."

    I wasn't aware he had any.
  • rick_chasey
    rick_chasey Posts: 75,594
    kingstongraham said:

    rick_chasey said:

    Founder of the Hogan assessment weighs in:

    https://www.hoganassessments.com/blog/understanding-elon/

    "Regardless, much of the criticism seems to be inspired by critics of Musk’s political views."

    I wasn't aware he had any.
    Yeah he's been quite clear he thinks too many right wingers have been banned from twitter.
    _
  • kingstongraham
    kingstongraham Posts: 27,754
    rick_chasey said:

    kingstongraham said:

    rick_chasey said:

    Founder of the Hogan assessment weighs in:

    https://www.hoganassessments.com/blog/understanding-elon/

    "Regardless, much of the criticism seems to be inspired by critics of Musk’s political views."

    I wasn't aware he had any.
    Yeah he's been quite clear he thinks too many right wingers have been banned from twitter.
    That's not really a political view.
  • pangolin
    pangolin Posts: 6,597
    https://www.bbc.co.uk/news/business-63648505

    Elon Musk has told Twitter staff that they must commit to working "long hours at high intensity" or else leave the company, according to reports.

    In an email to staff, the social media firm's new owner said workers should agree to the pledge if they wanted to stay, the Washington Post reported.

    Those who do not sign up by Thursday will be given three months' severance pay, Mr Musk said.


    Sounds great
    - Genesis Croix de Fer
    - Dolan Tuono
  • kingstongraham
    kingstongraham Posts: 27,754
    In other news, he's in court over his $56bn compensation from Tesla, and said this:



    Compare and contrast.
  • rick_chasey
    rick_chasey Posts: 75,594
    kingstongraham said:

    rick_chasey said:

    kingstongraham said:

    rick_chasey said:

    Founder of the Hogan assessment weighs in:

    https://www.hoganassessments.com/blog/understanding-elon/

    "Regardless, much of the criticism seems to be inspired by critics of Musk’s political views."

    I wasn't aware he had any.
    Yeah he's been quite clear he thinks too many right wingers have been banned from twitter.
    That's not really a political view.
    It is in the states.
    _
  • pinno
    pinno Posts: 52,084
    rick_chasey said:

    Founder of the Hogan assessment weighs in:

    https://www.hoganassessments.com/blog/understanding-elon/

    Not exactly an insightful or conclusive article.
    seanoconn - gruagach craic!
  • kingstongraham
    kingstongraham Posts: 27,754
    rick_chasey said:

    kingstongraham said:

    rick_chasey said:

    kingstongraham said:

    rick_chasey said:

    Founder of the Hogan assessment weighs in:

    https://www.hoganassessments.com/blog/understanding-elon/

    "Regardless, much of the criticism seems to be inspired by critics of Musk’s political views."

    I wasn't aware he had any.
    Yeah he's been quite clear he thinks too many right wingers have been banned from twitter.
    That's not really a political view.
    It is in the states.
    It's what is used instead of political views to keep taxes low for rich people.

    I agree it seems to be about the only view that the Republican party is willing to express.
  • focuszing723
    focuszing723 Posts: 7,881
    focuszing723 said:

    Nobody bleeds for the King sat in his Castle.

    Top > down.

  • MattFalle
    MattFalle Posts: 11,644
    He's looking for a new CEO of Twitter if anyone is job hunting.
    .
    The camera down the willy isn't anything like as bad as it sounds.
  • pblakeney
    pblakeney Posts: 26,954
    MattFalle said:

    He's looking for a new CEO of Twitter if anyone is job hunting.

    Will there be anyone left to manage after today?
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • kingstongraham
    kingstongraham Posts: 27,754
    MattFalle said:

    He's looking for a new CEO of Twitter if anyone is job hunting.

    I'll do it for $56bn.
  • pblakeney
    pblakeney Posts: 26,954
    I'm a man of few needs.
    I'll do it for $55bn. 😉
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • pinno
    pinno Posts: 52,084
    I'll do it for a decent pork pie.
    seanoconn - gruagach craic!
  • rjsterry
    rjsterry Posts: 29,073
    edited November 2022
    Ew.



    Also funny how these so-called geniuses fall for such nonsense.
    1985 Mercian King of Mercia - work in progress (Hah! Who am I kidding?)
    Pinnacle Monzonite

    Part of the anti-growth coalition

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