From MSNBC: All-electric carmaker hits a financial wall.
Tesla Motors — maker of a $109,000, all-electric, emissions-free sports car that can do 0-60 mph in 4 seconds — this week said it had hit a financial wall, specifically a shortage of cash.
Musk said Tesla also will reduce its work force a "modest" amount and close its engineering office near Detroit, Mich., moving those jobs to new headquarters in San Jose, Calif.
"We are not far from being cash flow positive," Musk wrote, "but even if that threshold ends up being further than expected."
You are NOT cash-flow positive.
The $25B "bailout" of the Big Three screwed you over big time because you didn't get any of the taxpayer cheese.
Oil prices are going to fall in the upcoming deflation.
And you are making a $109K car headed into an epic recession.
Hasta luego, baby!
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