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Thread: A crystal ball and solarcity

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    Tony Fracasso - Admin
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    A crystal ball and solarcity

    A crystal ball and solarcity

    So what do we think is going to happen with the massive solar city building?

    Think it will pan out?

    Do you think the hundreds of millions of dollar should have just stayed in the net tax payers pockets?

    Personally I see it as legalize theft.

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    Member gorja's Avatar
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    Wonder what Poloncarz's opinion is on this since he was the one that pushed for the clawback clause in the ECIDA.

    The ECIDA policy states a company must have created or retained at least 80 percent of its job projection totals for the incentives to remain in place.

    What's the percentage of the original projected jobs Solar City is creating?

    Georgia L Schlager

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    1/3 but don't worry. Markie will keep his mouth shut because he won't risk pissing off Il Douche and it wasn't an ECIDA project. And the whole purpose of this project isn't to create jobs but to put money into the pockets of Democratic contributors, Elon Musk and the usual array of local contributors to Il Douche.

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    Tony Fracasso - Admin
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    SolarCity Probability Of Bankruptcy


    Probability Of Bankruptcy Analysis
    For stocks, Probability Of Bankruptcy is normalized value of Z-Score. For funds and ETFs it is derived from a multi-factor model developed by Macroaxis.The score is used to predict probability of a firm or a fund going into bankruptcy or experiencing financial distress within next 24 months. Unlike Z-Score, Probability Of Bankruptcy is the value between 0 and 100 indicating the actual probability the firm will be distressed in the next 2 fiscal years.
    SolarCity

    https://www.macroaxis.com/invest/rat...-Of-Bankruptcy

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    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by gorja View Post
    Wonder what Poloncarz's opinion is on this since he was the one that pushed for the clawback clause in the ECIDA.

    The ECIDA policy states a company must have created or retained at least 80 percent of its job projection totals for the incentives to remain in place.

    What's the percentage of the original projected jobs Solar City is creating?
    I think this all depends on the language of the contract. investigativepost.org says documents do not specify what kind of jobs they might be. They add comments from SolarCity:

    “With new advanced semiconductor manufacturing equipment that enables automation, we believe 500 is the minimum number of manufacturing jobs the factory will require,” said Kady Cooper, director of communications for SolarCity. “If that is the case, we will hire more staff for sales, project development and other functions.”

    I asked this in another thread on how long the jobs actually need to exist in Buffalo. I think a poorly structured contract, anticipating plant jobs that are more difficult to ship than sales jobs, might not have a strong term provision. But the SUNY Research Foundation approved the change. So who knows.

    The use of "other functions" for a job description is also concerning. It could be a positive if they are shipping engineering or skilled jobs here. It would be a negative if they are shipping customer service jobs. For now, I'll take the glass half full.



    Should also be noted that SolarCity HQ is in San Mateo, CA. EVERYTHING is more expensive there. A job that would pay $75k in Buffalo would need to pay about $135k. So if you are a company that is bleeding cash....wouldn't it make sense to ship operations to a place where you could almost get 2 employees for the price of 1? That's not even considering the cost of real estate or rent. Again, this is a glass half full look.

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    Tony Fracasso - Admin
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    Investors are pulling out of the Buffalo Billion project amid corruption probe

    Gov. Andrew Cuomo’s multibillion-dollar upstate economic development plans, including the massive Buffalo Billion project, may be derailed by growing nervousness from IBM and other companies over the continuing corruption probes.

    IBM, a major player in the state’s high-tech development efforts for more than a decade, has decided to “cease all new investments and additional hiring’’ regarding the plans until the probes are concluded, said a source with knowledge of the company’s action.

    A “major” Japanese clean-energy company that had planned to invest $1.5 billion in a project in Binghamton recently decided to pull out because of the ongoing scrutiny by US Attorney Preet Bharara and state Attorney General Eric Schneiderman, the source said.
    http://nypost.com/2016/06/14/investo...ruption-probe/

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    So word is Elon Musk, the greatest innovator ever to fleece the American taxpayer is looking to merge Solarcity with Tesla, his taxpayer subsidized auto company to get "synergies". It's been common knowledge for months that Solarcity is verging on bankruptcy...just the type of company that Il Douche should be giving $700 million of taxpayer money to. What if those "synergies" no longer require a riverbend facility. In the immortal words of John Valby "waltz me around by my Willy"!

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    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by grump View Post
    So word is Elon Musk, the greatest innovator ever to fleece the American taxpayer is looking to merge Solarcity with Tesla, his taxpayer subsidized auto company to get "synergies". It's been common knowledge for months that Solarcity is verging on bankruptcy...just the type of company that Il Douche should be giving $700 million of taxpayer money to. What if those "synergies" no longer require a riverbend facility. In the immortal words of John Valby "waltz me around by my Willy"!
    Just some food for thought....

    If you have issue with Elon Musk and Tesla in regards to fleecing the taxpayer...you must not even be able to discuss what the US auto industry did over 50 years or so at the expense of the taxpayer. Right?

    Or did you not get feed a couple of links in chain emails about Ford and GM recently?

  10. #10
    Tony Fracasso - Admin
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    Other than the auto bailout what did the auto industry do that is equivalent to solarcity over the last 50 years?

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    And don't forget Chrysler which was government motors before GM. The benefits Ford and GM received don't come close to the basketfuls of money being handed to Musk. And don't forget GM and Ford employed thousands of workers, many of them here, and provided a reasonable standard of living for them. We've already had a taste of Musk's job creation record at Solarcity...1500 jobs, oh wait better read the fine print, make that 500 jobs...oh wait we may be merging again so let's don't get too excited about these job promises

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    Tony Fracasso - Admin
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    If the purchase happens would the group be off the hook on the building?

    Wouldn't that be a bite in the butt

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    And Alan Mulally's response to the bailout was priceless. While the ceo's of GM & Chrysler groveled before the likes of Harry Reid Mulally in so many words told him to p*** up a rope. He mortgaged Ford to the hilt and turned it around in the face of constant harassment by the BO administration which covered up the GM ignition switch scandal all the while it ran the company. And how can Tesla Motors require its purchasers to sign a non-disclosure agreement forbidding them from reporting defects to the NTSB, unless of course the NTSB and other federal agencies are complicit.

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    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by WNYresident View Post
    Other than the auto bailout what did the auto industry do that is equivalent to solarcity over the last 50 years?
    Go read about the background on the "Yellow Book". Who really designed things and why they were designed.

    The US Government pretty much funded a massive amount of the growth of the auto industry with the creation of highways in the 50s and 60s. This is pretty much like the US government spending hundreds of billions of dollars to create television programming for cable companies at no cost to them only to allow the cable companies to turn around and charge for access to watch that content.

    Go read about Corn Subsidies and how the US not only keeps the corn growers in a very profitable business but by pushing corn for the last 30 years has also played a huge part in the current obesity epidemic.

    Look, I am not a huge fan of companies taking the Federal Government for a ride. I can understand when someone like Grump says Musk is working over taxpayers. It's a very valid opinion. But you need to consider:

    1 - This happens everywhere in many industries.
    2 - Bitching about it is not going to end it.
    3 - At least this time Buffalo is now connected to one of these troughs.


    This is why I am OK with it. Regardless of what you think of Musk, if having him connected to Buffalo and some taxpayer subsidized trough is a byproduct...well I think based on the sh*t that's been piled on WNY for the last 60 years it's OK to look away.


    Here is the thing about the Tesla and SolarCity merger. SolarCity is all about the collection of solar power. Tesla on the other hand is making huge advancements in the areas of power storage and batteries. Right now, people sell the power back to the grid but what if you could eventually 'grow' your own power and keep it for later use? That's the future.

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    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by grump View Post
    And don't forget Chrysler which was government motors before GM. The benefits Ford and GM received don't come close to the basketfuls of money being handed to Musk. And don't forget GM and Ford employed thousands of workers, many of them here, and provided a reasonable standard of living for them. We've already had a taste of Musk's job creation record at Solarcity...1500 jobs, oh wait better read the fine print, make that 500 jobs...oh wait we may be merging again so let's don't get too excited about these job promises
    My comments have nothing to do with the bailouts.

    My comments are on the 'creation' of the auto industry by the 'creation' of the highways in the US. If the US did not invest in highways (INFRASTRUCTURE) like they did, US Auto (CARS/PRODUCT) would have never been as big as it was. If the US needs to invest in the infrastructure of solar and clean energy so the products of solar and clean energy can take off....then do it. At least know that Buffalo is a 'home base' now for the leading company.


    Let me put it to you this way. If you could go back in time and were a Governor in 1905 just how much would you paid for Henry Ford to pick your State or a region in your State for his operations over Michigan?



    This is coming from a guy who thinks the current Governor of NYS is a dirty scumbag

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