Burnout Radio

I found an intresting article over at www.rpmgo.com. Turns out that if you do the math Tesla Motors is now worth more that General Motors. Say what?! Yup you see it works like this. Daimler paid a cool $50 million for a 9% stake in Tesla Motors. If you multiply that you get $550 million dollars. And seeing as GM’s stock prices are still hovering around the dollar bill mark (as in one George Washington) that means Tesla is worth more. So that means one of two things, either GM is at an all time low or Daimler is pretty dumb. But I think I shall take a third option. GM is at an all time low, and Daimler is dumb. We all know why GM is sucking it up right now, but the Daimler thing takes a bit of explaining. Daimler paid $50 million dollars, for a company that has sold todat around 450 cars. Each at around $100K. So if I whip out my handy calculator we can see that Tesla Motors has done a total of 45 million dollars in revenue and they just managed to sell 9% of their company to Daimler for 5 million dollars more than their entire revenue. Talk about getting to wool pulled over your eyes. Poor Daimler never saw it comming.

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