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Better Place singing with the choir invisible

By johnboy 28 May 2013 28

The warning signs have been clear for a long time but The Register is reading the last rites over the Better Place electric car fiasco which we gullible rubes in Canberra have been taken in.

That vision helped the company to raise many hundreds of millions of seed capital. Renault clambered aboard too, building the Fluence ZE to Better Place’s specifications.

The company opened in Australia, the USA, Demark and Israel but struggled in all markets, sending its CEO’s seat swivelling and its cash pile burning.

Over the weekend, current CEO Dan Cohen pulled the plug.

His canned statement says he’s tried to turn the company around, but “revenues are still insufficient to cover operating costs, and in the light of the continued negative cash flow position, the Board has decided that it has no option but to seek to make this application to the Courts for an orderly liquidation of the company.”

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Better Place singing with the choir invisible
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howeph 9:06 pm 29 May 13

c_c™ said :

… you’d have to assume we have the brains locally to have come up with something like Tesla if the drive to do so (no pun intended) were there.

Yes we can.

I cam across this Melbourne company, Axiflux, the other day which looks promising:

The world’s first modular, real-time, software-reconfigurable electric motor and generator. Relative to a traditional electrical motor, the innovative configuration and control of the AMFA yields significant size, weight and price reductions, while increasing power output, efficiency and reliability.[http://axiflux.com/]

I’ve only read some of their website marketing material, but it sounds like a potential gold mine.

c_c™ 4:45 pm 29 May 13

dungfungus said :

howeph said :

dungfungus said :

The loan from the US Government was paid back by selling debt to the public, not from profits.

True; but it was the the fact that:

Tesla recently reported its first profitable quarter, and Consumer Reports gave the Model S a near-perfect rating of 99 out of 100 points. So far this year, Tesla’s stock price has soared by 171%, which helped drive the company’s recent billion dollar stock and debt offering. [http://business.time.com/2013/05/23/loser-no-more-tesla-repays-465-million-u-s-loan/]

The US stock market is at a record high and cheap money is pouring into equities like never before so there was never a better time to raise captital through shares and Tesla are in the right place at the right time with a hint of better things to come.
At the same time the markets are very volatile which is driving the massive gains in share prices.
I doubt if many contributers to this blog would remember the “dot-com boom bust” and new technology stocks are prone to go this way. I hope Tesla don’t as they deserve success.

Tesla is a brilliant example. Tiny company but some great innovations which they’re now selling back to the major players in the car industry. (The Rav-4 EV in the US was powered by the Tesla developed system).

I cringe when thinking that this country has been ploughing hundreds of millions into building dinosaurs and supporting anachronistic business models when you’d have to assume we have the brains locally to have come up with something like Tesla if the drive to do so (no pun intended) were there.

dungfungus 4:32 pm 29 May 13

howeph said :

dungfungus said :

The loan from the US Government was paid back by selling debt to the public, not from profits.

True; but it was the the fact that:

Tesla recently reported its first profitable quarter, and Consumer Reports gave the Model S a near-perfect rating of 99 out of 100 points. So far this year, Tesla’s stock price has soared by 171%, which helped drive the company’s recent billion dollar stock and debt offering. [http://business.time.com/2013/05/23/loser-no-more-tesla-repays-465-million-u-s-loan/]

The US stock market is at a record high and cheap money is pouring into equities like never before so there was never a better time to raise captital through shares and Tesla are in the right place at the right time with a hint of better things to come.
At the same time the markets are very volatile which is driving the massive gains in share prices.
I doubt if many contributers to this blog would remember the “dot-com boom bust” and new technology stocks are prone to go this way. I hope Tesla don’t as they deserve success.

Solidarity 3:51 pm 29 May 13

I have this great scheme, based on the trapezoid….

dungfungus 2:00 pm 29 May 13

switch said :

dungfungus said :

The loan from the US Government was paid back by selling debt to the public, not from profits.

Is that like the paper loss Transact made?

switch said :

dungfungus said :

The loan from the US Government was paid back by selling debt to the public, not from profits.

Is that like the paper loss Transact made?

Don’t you know the difference between a loan and a loss?

switch 1:24 pm 29 May 13

dungfungus said :

The loan from the US Government was paid back by selling debt to the public, not from profits.

Is that like the paper loss Transact made?

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