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  1. #81
    Quote Originally Posted by CameronBlue View Post
    The only thing protecting Elon (and all other online platforms) from lawsuits is Section 230. There are two cases in front of the SCOTUS that may shred that protection to pieces. If that happens it will be a whole new online world.

  2. #82
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by CameronBlue View Post
    Some of those are real gems!

  3. #83
    Quote Originally Posted by bundabergdevil View Post
    Some of those are real gems!
    Even in the sorry state it is in, Twitter is undefeated.

  4. #84
    Join Date
    Nov 2007
    Location
    Vermont
    Quote Originally Posted by bundabergdevil View Post
    Some of those are real gems!
    That's some great stuff right there. Maybe Twitter merged with The Onion without telling us, I should ask Elon.

  5. #85
    Quote Originally Posted by Jeffrey View Post
    Not sure 7.9% is an extremely high unsecured rate in November 2022. I wouldnít want that paper.
    It seems neither do the banks.

    Twitter Buyout Loans Get Bid at 60 Cents as Banks Sound Out Investors

    Looks like Twitter is going to have problems getting any new products out the door because the privacy and compliance heads have left.

    https://www.theverge.com/2022/11/10/...s-fine-warning

    Also I was vastly off on the number of verified account pre Elon. It was only 400,000.

    And to add to the pile on, Elon has a court date week. Itís a shareholder lawsuit over his $56 billion Tesla pay package. Although the plaintiff is just one person with 9 shares, the repercussions of a potential victory will be huge. Iím sure any pension/mutual/index fund that held Tesla stock will be pulling for him.

  6. #86
    Join Date
    Jan 2010
    Location
    Outside Philly
    Quote Originally Posted by Kdogg View Post
    It seems neither do the banks.

    Twitter Buyout Loans Get Bid at 60 Cents as Banks Sound Out Investors

    Looks like Twitter is going to have problems getting any new products out the door because the privacy and compliance heads have left.

    https://www.theverge.com/2022/11/10/...s-fine-warning

    Also I was vastly off on the number of verified account pre Elon. It was only 400,000.

    And to add to the pile on, Elon has a court date week. Itís a shareholder lawsuit over his $56 billion Tesla pay package. Although the plaintiff is just one person with 9 shares, the repercussions of a potential victory will be huge. Iím sure any pension/mutual/index fund that held Tesla stock will be pulling for him.

    Goodness gracious. That's a lot of problems.

  7. #87
    Join Date
    Sep 2007
    Location
    Undisclosed
    Quote Originally Posted by bundabergdevil View Post
    Goodness gracious. That's a lot of problems.
    More money, more problems.

  8. #88
    Join Date
    Dec 2009
    Location
    North of Durham
    Quote Originally Posted by OldPhiKap View Post
    More money, more problems.
    So the good news for him is that since he is rapidly losing money, his problems are going away?

    As someone who enjoys spending time with my children and being actively engaged in their lives while they will still allow me to do so (they are not yet teenagers), I am still amazed that Musk has 10 children, given how much time he spends running around the world for Tesla, Twitter and everything else. I wonder whether he can pick most of them out of a lineup.

  9. #89
    Quote Originally Posted by Kdogg View Post
    As a banker, I truly would have demanded a double digit unsecured rate. Elon hesitates and Iíd revisit Tesla stock secured rates. All bankers should have been extremely concerned by Elonís unwillingness to pledge TSLA stock for a much lower loan rate.

  10. #90
    Join Date
    Dec 2009
    Location
    North of Durham
    Quote Originally Posted by Jeffrey View Post
    As a banker, I truly would have demanded a double digit unsecured rate. Elon hesitates and Iíd revisit Tesla stock secured rates. All bankers should have been extremely concerned by Elonís unwillingness to pledge TSLA stock for a much lower loan rate.
    Just did some googling and max rate on unsecured looks like it is 11.75%, though I wouldn't swear to this. Which is still well below the current rate for similar deals. So it is the worst of both worlds - high enough that it is painful for Elon to pay, but low enough that the banks are taking a bath on it.

  11. #91
    Quote Originally Posted by CrazyNotCrazie View Post
    Just did some googling and max rate on unsecured looks like it is 11.75%, though I wouldn't swear to this. Which is still well below the current rate for similar deals. So it is the worst of both worlds - high enough that it is painful for Elon to pay, but low enough that the banks are taking a bath on it.
    Looks like $9.5 B is secured and $3.5 B is unsecured. Thereís a $500 M LOC and $3 B in unsecured bonds. Do you know who is holding the unsecured $3.5 B?

    Iím thinking BofA and/or Goldman.

  12. #92
    Join Date
    Feb 2011
    Location
    Summerville ,S.C.
    Quote Originally Posted by bundabergdevil View Post
    Some of those are real gems!
    https://twitter.com/elonmusk/status/1591326005272141826?t=3lAYSPUjh7IE1TTg9UzWww&s=19

    Over 60% of users like the way its going on Twitter with this poll .over 1million votes.

  13. #93
    Join Date
    Dec 2009
    Location
    North of Durham
    Quote Originally Posted by Jeffrey View Post
    Looks like $9.5 B is secured and $3.5 B is unsecured. Thereís a $500 M LOC and $3 B in unsecured bonds. Do you know who is holding the unsecured $3.5 B?

    Iím thinking BofA and/or Goldman.
    Morgan Stanley led the overall deal. I thought I saw somewhere that all the lenders held proportionate shares of all the tranches but I canít find that again so not sure.

    All of these banks were tripping over themselves to make Elon happy to get future banking business, and I think they also set rates when the deal was initially signed in the spring when the market was much stronger for these types of deals.

  14. #94
    Quote Originally Posted by wavedukefan70s View Post
    https://twitter.com/elonmusk/status/1591326005272141826?t=3lAYSPUjh7IE1TTg9UzWww&s=19

    Over 60% of users like the way its going on Twitter with this poll .over 1million votes.
    That's interesting. I mean, I'm fascinated by the way it's going, but I don't think that necessarily means it's a good thing for Twitter.

    Some people are perfectly happy to watch an entity burn. For instance, what was the favorite Tar Heel season of the last 25 years for folks on this board?

  15. #95
    Quote Originally Posted by Mtn.Devil.91.92.01.10.15 View Post
    what was the favorite Tar Heel season of the last 25 years for folks on this board?
    Absolutely none of them...their very existence is a blight on the landscape of college athletics.

  16. #96
    Quote Originally Posted by wavedukefan70s View Post
    https://twitter.com/elonmusk/status/1591326005272141826?t=3lAYSPUjh7IE1TTg9UzWww&s=19

    Over 60% of users like the way its going on Twitter with this poll .over 1million votes.
    Is he wearing a costume in his profile pic?

  17. #97
    Join Date
    Feb 2007
    Location
    Washington, D.C.

    SpaceX

    I liked this:
    FhTscq5WAAA3R3u.jpg

  18. #98
    Quote Originally Posted by YmoBeThere View Post
    Absolutely none of them...their very existence is a blight on the landscape of college athletics.
    I really like you.

  19. #99
    Join Date
    Feb 2007
    Location
    Boston area, OK, Newton, right by Heartbreak Hill
    Quote Originally Posted by YmoBeThere View Post
    Absolutely none of them...their very existence is a blight on the landscape of college athletics.
    You must spread comments . . .

  20. #100
    Quote Originally Posted by CrazyNotCrazie View Post
    Morgan Stanley led the overall deal. I thought I saw somewhere that all the lenders held proportionate shares of all the tranches but I canít find that again so not sure.

    All of these banks were tripping over themselves to make Elon happy to get future banking business, and I think they also set rates when the deal was initially signed in the spring when the market was much stronger for these types of deals.
    Amazing how some senior bankers do deals without the basics. A junior banker does a deal, one hundredth the size, and theyíre expected to acquire, analyze, and discuss the borrowerís business plan and financials. A simple projected cash flow statement raises concerns. And, a junior would not expose the firm to massive interest rate risk but, instead, simply price the deal with an agreed benchmark spread.

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