Tesla is insanely overvalued vis-a-vis Ford and GM

Tesla logo

Every once in a while I’m reminded in stark terms why I’m not a market trader, why I don’t consider even the most sacrosanct economic “laws” as nothing more than generic guidelines, and why the market should always be treated as if it’s almost, but not quite as rational as a rabid, starving badger suffering from mad cow disease. Today’s example is this: Tesla shares break $300 for the first time, closing in on GM’s market cap.

In no way is Telsa anywhere near as valuable as Ford or GM. Last quarter, Telsa sold 25,418 vehicles. Ford, on the other hand, sold nearly 10x that many in March alone. And GM? They sold 203,133 vehicles in March. Continue reading

Nota Bene #119: Think! It Ain't Illegal Yet

“My wife and I were happy for twenty years. Then we met.” Who said it? Continue reading

Democracy & Elitism 2: performance elitism vs privilege elitism, and why the difference matters

Democracy+ElitismPart two in a series.

“Elite” hasn’t always been an epithet. In fact, if we consider what the dictionary has to say about it, it still signifies something potentially worthy. Potentially. For instance:

e·lit·ism or é·lit·ism (-ltzm, -l-) n.
1. The belief that certain persons or members of certain classes or groups deserve favored treatment by virtue of their perceived superiority, as in intellect, social status, or financial resources.le

That definition, while technically accurate enough, could use a bit of untangling, because it embodies the very nature of our problem with elitism in America. In popular use, the term “elite” and its derivatives has been twisted into a pure, distilled lackwit essence of “liberal” – another once-proud word that fell victim to our moneyed false consciousness machine. Continue reading

What if — Obama logic applied to presidencies past

Now don’t get me wrong, I like Obama and think his best days are still to come. But his administration has so far been a strange collection of backtracks, waverings, retreats, retreads, flip-flops, cricket chirps and sellouts, with a few successes here and there.

Friend of mine saw a link somewhere that wondered what it would be like if Team Obama applied its logic on health care to other progressive battles in history. He lost the exact link, which I don’t have either, so I hope my list below isn’t copycatting someone else too closely (email or comment if so, esp. if you have the link in question).

Anyway, here are a few headlines from history, if Obama logic was at work… Continue reading

The Motor City's Burnin'

Today, the executives of the Big Three return to Washington to pitch their case for federal assistance.  Presumably they will not be blundering into town on corporate jets.  Whether they will walk away with anything more than a political whipping remains to be seen, though given the current atmosphere they had better expect to be tied to the post.

I’m not an industry analyst, but my great-grandmother swung rear axle assemblies for Chrysler; my grandfather on the other side retired from the FoMoCo; both a brother and an uncle currently work in the industry; and i was raised in a UAW town dominated by three auto plants.  You can take the boy out of Detroit, but you cannot take Detroit out of the boy.  And i can tell you that the bullshit in this “debate” piles up so fast that you’d need wings to stay above it.

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Quotabull

You just heard a Ronald Reagan speech from a president of France. It was an almost out-of-body experience for all of us.

— Senate minority leader Mitch McConnell (R-Ky.) after French President Nicolas Sarkozy spoke to a joint session of Congress, Nov. 7.

I have a partner in peace, somebody who has clear vision, basic values, who is willing to take tough positions to achieve peace. And so when you ask, am I comfortable with the Sarkozy government sending messages, you bet I’m comfortable.

— President Bush praising French President Nicolas Sarkozy, Nov. 7.

In view of everything we know now — the flawed intelligence, the miserable execution of the post-military phase — the French certainly were right.

— Rep. Tom Lantos, (D-Calif.), the chairman of the House Committee on Foreign Affairs, who said that France was correct to refuse to back the war in Iraq.
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