Ship is going down.

Source: http://www.crazydaysandnights.net

A few weeks ago I told you this celebrity CEO’s company wasn’t paying its bills on time.

Now they’re even trying to get money back on past bills they already paid, going back years.

Ship is going down.

People just realized half the galley is full of water.

Elon Musk

Tesla

Tesla shares drop after embarrassing memo leaks

Tesla took another financial hit on Monday, with shares in the company dropping almost 5% after the electric automaker was reported to have asked some US suppliers to return payments to the money-losing company.

The disclosure was contained in a memo sent last week by a global supply manager and obtained by the Wall Street Journal. In it, the manager described the payments as essential to Tesla’s operation.

The leak came soon after Tesla announced it was cutting several thousand jobs as part of an effort to reduce costs. Tesla has been burning through cash at a rate of about $1bn a quarter, or more than $7,430 every minute, according to data compiled by Bloomberg, and finished the first quarter with $2.7bn in cash on hand. – Source