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Thread: Alan Bedenko - SolarCity and its Impact

  1. #16
    Tony Fracasso - Admin
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    The reason he is who is is doesn't effect 95% of the people in our community.

  2. #17
    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by WNYresident View Post
    The reason he is who is is doesn't effect 95% of the people in our community.
    You're right. It effects 100% of the community.

  3. #18
    Member NY The Vampire State's Avatar
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    He is a master of asking for handouts from the taxpayers.
    Democrats & Republicans Suck Alike.

  4. #19
    Tony Fracasso - Admin
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    Quote Originally Posted by leftWNYbecauseofBS View Post
    You're right. It effects 100% of the community.

    I don't see it that way. Most people's in Erie County will not be effected at all by Solar City. There will be some secondary effect because you'll have a few hundred people working at the place spending money in the community but I don't believe it will be $750,000,000 worth of value. New York State has to artificially work on growing businesses because of the tax burden the controlling powers have placed on us. I'd rather see everyone have lower taxes versus politically connected businesses getting select tax breaks.

  5. #20
    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by WNYresident View Post
    I don't see it that way. Most people's in Erie County will not be effected at all by Solar City.

    Your wrong. It may be minor but everyone will be effected.

    When the factory opens and it's picked up by international news...Buffalo, instead of having a story about how run down it is or how much snow there is, will get good press. That on the smallest of scales is a good thing for everyone. When the factory is up and running it's going to contribute to the economy. That effects everyone.

    Those are just two small examples.

  6. #21
    Tony Fracasso - Admin
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    Take "good press" to Wegman's and see how many bags of groceries you can buy

  7. #22
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    Quote Originally Posted by WNYresident View Post
    Take "good press" to Wegman's and see how many bags of groceries you can buy
    Rochester is very proud of Wegmans.......

  8. #23
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    The money is already gone.
    Check out the SCTY stock over the past year,
    It went up 25%... then it fell 25%. The P/E ratio is -90.
    Cuomo handed out all that money to a solar panel installer and the stock owners pocketed the cash.

  9. #24
    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by skoorbekim View Post
    The money is already gone.
    Check out the SCTY stock over the past year,
    It went up 25%... then it fell 25%. The P/E ratio is -90.
    Cuomo handed out all that money to a solar panel installer and the stock owners pocketed the cash.
    You're right.

    The drop in the 4th had nothing to do with:

    1 - A forced and unsustainable drop in oil prices

    2 - A massive investment in the sales and marketing infrastructure of a company in anticipation for.....wait for it.....a large factory to come online.

    You're also right that this installer, who is building one of the largest manufacturing facilities in the world, is nothing more than an installer.




  10. #25
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    Quote Originally Posted by leftWNYbecauseofBS View Post
    You're right.

    The drop in the 4th had nothing to do with:

    1 - A forced and unsustainable drop in oil prices

    2 - A massive investment in the sales and marketing infrastructure of a company in anticipation for.....wait for it.....a large factory to come online.

    You're also right that this installer, who is building one of the largest manufacturing facilities in the world, is nothing more than an installer.

    And before the drop in oil prices (same timeframe, year prior):
    Net Profit Margin: -144.23%
    Operating Margin: -121.12%
    Return on Assets: -11.69%
    Return on Equity: -31.48%

    I guess they're banking on skyrocketing oil prices...

    "If you build it, they will come" is no way to do business...

    ...the broken window theory in reverse - build the window factory before we break your windows.

  11. #26
    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by skoorbekim View Post
    And before the drop in oil prices (same timeframe, year prior):
    Net Profit Margin: -144.23%
    Operating Margin: -121.12%
    Return on Assets: -11.69%
    Return on Equity: -31.48%
    SolarCity Corp (SCTY) Stock Has 75% Upside: Merrill Lynch.
    Merrill Lynch analysts expect a 75% upside in SolarCity stock as the market begins to show an understanding for the company’s business model

    Quote Originally Posted by skoorbekim View Post
    I guess they're banking on skyrocketing oil prices...

    Only an idiot would bet against oil prices going up. Guess you're one of them. That said, oil is not even the long term key.

    The US Power grid is in need of massive amounts of repair and upgrades. You know about the power grid right? Add in the investment needed to upgrade the crumbling infrastructure in the US and the dramatic improvements in battery storage (oh ya...that's something Musk is also connected to), it's soon going to be cost prohibitive to upgrade everything and in turn personal power generation and storage is going to skyrocket.

    But hey...let's ignore your initial comments that:

    1 - They were an installer.
    2 - The owners pocketed the cash.

    Post any set of numbers you want. It's obvious you have an agenda and have very little understanding of the greater market as a whole.

    We're done here.

  12. #27
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    Quote Originally Posted by leftWNYbecauseofBS View Post
    SolarCity Corp (SCTY) Stock Has 75% Upside: Merrill Lynch.

    Only an idiot would bet against oil prices going up. Guess you're one of them. That said, oil is not even the long term key.

    But hey...let's ignore your initial comments that:

    1 - They were an installer.
    2 - The owners pocketed the cash.

    Post any set of numbers you want. It's obvious you have an agenda and have very little understanding of the greater market as a whole.
    “SolarCity is getting into a business it has never been before,” said Angelo Zino, an analyst with Capital IQ. Historically, it had outsourced panels from Chinese makers, and it entering the solar-panel making business brings fresh execution risk and capital needs, Zino said.

    "This is by far the sweetest such deal that we are aware of and is effectively a massive transfer of taxpayer money to a private entity...
    Our expectation is that almost several Chinese solar companies will be on par, or ahead of SolarCity, in terms of costs and efficiency, by the time SolarCity reaches volume production at the new facility.
    The Riverbend agreement, on the other hand, is a sweetheart deal. The Company is able to build a state of the art solar manufacturing facility on the backs of New York state taxpayers with very little of its own investment...
    We marvel that Elon Musk was able to engineer a $750M transfer of money from the state of New York taxpayers to SolarCity shareholders. As SolarCity shareholders do not get the benefit of depreciating the facility, we expect the economic value of this deal to SolarCity shareholders at about $500M. This deal effectively increases the valuation of SolarCity by about $6 per share bringing the intrinsic value of this Company to a mid-teen level.
    Our Sentiment: Avoid"
    -Seeking Alpha


    Federal tax credits for residential systems drop from 30 to 10% by end of 2016.

    SolarCity's current cost of production per watt is $2.86; company goal is $2.50.

    To reduce costs, Solar City is utilizing a factory in Hangzhou, China.

    SolarCity also recently inked a lease deal for bankrupt Solyndra's 200,000 square foot facility in Fremont, CA.

    SolarCity's stock has fallen 27% since mid-September.

  13. #28
    Tony Fracasso - Admin
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    Taxpayers funded $177M of equipment for Tesla, now it's no longer needed


    That includes at least $127 million of surplus machinery at the South Buffalo Tesla Gigafactory.

    https://www.wgrz.com/article/news/lo...37Q7g8pZrwnDGA

  14. #29
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    I’ve pointed out for years on other threads that this was the most spectacular waste of taxpayer money in the history of upstate New York. Thankfully many of the people involved in the scam ended up in the slammer as this was never more of a transfer program to funnel taxpayer money into the hands of Cuomo supporters. These types of scams went on all across upstate and several went to jail. Unfortunately, after a billion wasted taxpayers dollars, thousands dead due to his mismanagement of the NYC subway during Covid and his death warrant that killed 10,000 nursing home residents, the perpetrator of this continues to walk free.

  15. #30
    Tony Fracasso - Admin
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    And if Cuomo was going to run again think the ecdems would back him?

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