Failing Elon Concerns His Own Donors
FOR IMMEDIATE RELEASE: July 24, 2018
FAILING ELON CONCERNS HIS OWN DONORS
New Memo Details Extent of Tesla’s Wasteful Spending
ALEXANDRIA, VA. –Citizens for the Republic (CFTR) today has denounced Elon Musk and the Tesla Company in the strongest possible terms after a memo was provided to The Wall Street Journal detailing the extent of their failures—which has concerned both Tesla suppliers and donors alike.
A memo provided to The Journal yesterday showed that Tesla had previously asked around ten of their suppliers to return a large sum of money on their payments since 2016. This note, from a global supply manager, noted that this request “was essential to Tesla’s continued operations.”
In response, Tesla confirmed that they have asked these suppliers for reductions in total spending since 2016—on projects which have never been completed. Elon has since moved on to new ventures, and asking for more money.
Tesla’s stock has been consistently falling for months—many investors are concerned about their spending and ability to reach production goals. And they should be worried– the 15-year-old company has only reported two quarterly profits in its history and has never made a profit for a full year.
“Elon Musk has a decorated history of failure: he’s unable to follow through on product design, fiscal goals, or promises to consumers,” CFTR released in a statement.
Citizens for the Republic is leading the fight to expose Elon’s disastrously ineffective government funded ventures with their campaign, #StopElonFromFailingAgain.com, which has received international attention for its work.
“Elon has been receiving government subsidies for years—how can Congress trust him to utilize taxpayer money in a safe way if his own investors are worried about Tesla’s spending? We need to cease all funding if he’s unable to produce any results. End the subsidies, end the private donations. This man is putting everyone’s money at risk with his games,” said CFTR.
Citizens for the Republic (www.CFTR.org) is a conservative grassroots lobbying organization dedicated to promoting the ideology and political philosophy of Ronald Reagan. Reagan established the original CFTR in 1977. In 2010, a group of Reagan stalwarts re-launched the organization. CFTR’s Sunlight Project has worked to end subsidies and expose corporate corruption. Sunlight is the best disinfectant.