General Discussion
In reply to the discussion: I was forced today [View all]waterwatcher123
(390 posts)My five work highlights light for the week were derived from reading the 2025 Tesla 10K Report and 2024 Tesla Proxy Statement. I noticed the following key points in these reports:
1) Tesla supports Diversity, Equity and Inclusion (DEI) (Page 12)
"Tesla is committed to providing a workplace where employees feel respected, satisfied and appreciated. Our policies are designed to promote fairness and respect for everyone. We actively support the hiring, retention and advancement of exceptional talent, including but not limited to veterans, disabled veterans and individuals with disabilities. As of December 31, 2024, in the US, 2.3% of our employees are veterans or active-duty military personnel, 3.3% of our employees are identify as individuals with disabilities and 1.2% of our employees identify as veterans or active-duty military personnel with disabilities. Our military partnerships and development programs noted above help to directly and indirectly support these employees."
2) Tesla Considers Bitcoin an Asset Versus a Risk (Digital Assets, Net, Page 63)
It is odd that Tesla references Bitcoin as an asset rather than a risk factor when a number of government agencies have referred to it as a giant ponzi scheme. It seems part of a stockholder's investment in Tesla is unknowingly an investment in crypto currency (see below).
"Goodwill and Other - Crypto Assets. We have ownership of and control over our digital assets and we may use third-party custodial services to secure it. The digital assets are initially recorded at cost and are subsequently remeasured on the consolidated balance sheet at fair value. Periods prior to January 1, 2024 include digital assets at cost, net of impairment losses incurred since their acquisition.
We determine and record the fair value of our digital assets in accordance with ASC 820, Fair Value Measurement (ASC 820), based on quoted prices on the active exchange(s) that we have determined is the principal market for such assets (Level I inputs). We determine the cost basis of our digital assets using the specific identification of each unit received. Realized and unrealized gains and losses are now recorded to Other income(expense), net in our consolidated statement of operations."
3) Unions are Threat and Risk to Tesla's Business (Page 24)
ITEM 1A. RISK FACTORS
"Our business may be adversely affected by any disruptions caused by union activities. It is not uncommon for employees of certain trades at companies such as ours to belong to a union, which can result in higher employee costs and increased risk of work stoppages. Moreover, regulations in some jurisdictions outside of the U.S. mandate employee participation in industrial collective bargaining agreements and work councils with certain consultation rights with respect to the relevant companies operations. Although we work diligently to provide the best possible work environment for our employees, they may still decide to join or seek recognition to form a labor union, or we may be required to become a union signatory. From time to time, labor unions have engaged in campaigns to organize certain of our operations, as part of which such unions have filed unfair labor practice charges against us with the National Labor Relations Board (the NLRB), and they may do so in the future. Any unfavorable ultimate outcome for Tesla may have a negative impact on the perception of Teslas treatment of our employees. Furthermore, we are directly or indirectly dependent upon companies with unionized work forces, such as suppliers and trucking and freight companies. Any work stoppages or strikes organized by such unions could delay the manufacture and sale of our products and may harm our business and operating results."
4) Tesla considers Elon Musk, CEO, to be Vitally Important Even Though He Only Devotes a Fraction of His Time to the Business (Page 20).
"We are highly dependent on the services of Elon Musk, Technoking of Tesla and our Chief Executive Officer. Although Mr. Musk spends significant time with Tesla and is highly active in our management, he does not devote his full time and attention to Tesla. For example: Mr. Musk also currently holds management positions at Space Exploration Technologies Corp., X Corp., X.AI Corp., Neuralink Corp. and The Boring Company, and is involved in other ventures and with the Department of Government Efficiency."
https://ir.tesla.com/_flysystem/s3/sec/000162828025003063/tsla-20241231-gen.pdf
5) Tesla 2024 Proxy Statement. Tesla's Board Recommended Against Every Shareholder Resolution That Focused on Social and Environmental Goals. This action is completely at odds with the statements of Tesla's propaganda and advice to shareholders.
Agenda Item Tesla Proposals Board Vote Recommendation
Stockholder Proposals:
9. A stockholder proposal regarding adoption of a
freedom of association and collective bargaining
policy, if properly presented (Proposal Nine).
AGAINST
10. A stockholder proposal regarding reporting on
effects and risks associated with electromagnetic
radiation and wireless technologies, if properly
presented (Proposal Ten).
AGAINST
11. A stockholder proposal regarding adopting targets
and reporting on metrics to assess the feasibility of
integrating sustainability metrics into senior
executive compensation plans, if properly
presented (Proposal Eleven).
AGAINST
12. A stockholder proposal regarding committing to a
moratorium on sourcing minerals from deep sea
mining, if properly presented (Proposal Twelve). AGAINST
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