tesla. we hear about his life and accomplishments from the author himself so please join me in welcoming mr. munson. >> thank you very much. appreciate everybody coming today. tesla, he has become -- there has been aer modern revival of m mary page who is google co-founder recently came out with refer to tesla as a hero. probably most people when they think about tesla they think about elon musk's cars and batteries but i today want to talk more about the man in the process. i was four years in writing this book and i thought i would offer some insights from my respect event for them that i thought were the key to the surprises as well. the first is the extent of this man's genius. this m man invented the electric motor. he attempted the long-distance distribution of electricity. according to the united states supreme court he did or radio remote control and robots. on and these are the very basics of our economy were done by m one single man. the american institute of electrical engineers said were we to seize and eliminates our industrial world the results of mr. tesla's work the wheels of

practice you in mr. tesla and thank you for your attention. [applause]

regulators are reportedly pressing elon musk about his announcement that he is planning to take tesla private. mrnsidering buying back the firm at $420 per share — and that he had secured funding for the potential deal. according to fox business network, the securities and exchange commission has sent a subpoena to the company — one of the first steps in a formal enquiry. paul blake in new york explains. it suggests there is some sort of formal investigation under way, that this is not just formal investigation under way, that this is notjust a routine checkup by the securities exchange commission, the big regulator of the stock market in the us. this goes back to the tweet on august seven where elon musk that he was considering taking it private. he said he had funding secured. that is to be what people are focusing on. but he had funding secured when he made the announcement on twitter. he has posted a post in recent days saying that phrasing came from conversations he had had with the saudi arabian sorrow and wealth fund, that he had had conversations with them about funding taking the committ

mr musk says the deal would pay $420 a share and take the company back into private hands. he says he already has the financial backing. tesla shares closed nearly 11% up, valuing the company around $82 billion, and mr musk‘s offer represents a 10% premium on that. but why would he want to?

tesla — a 16% premium. shares of the company were then halted on the nasdaq exchange. kim gittleson explains what's behind mrdesire to take the carmaker out of public investors‘ hands. tesla has long been one of the most of that against companies are wall street. that has been a source of frustration for elon musk, who says the so—called short sellers have distracted tesla from its production targets. that is why he says he wa nts to ta ke targets. that is why he says he wants to take the electric car maker private. but his suggested purchase price, which puts the business north of $80 billion, has raised eyebrows, especially because tesla has not yet raised a profit. but elon musk says he has got the funding, and if it is approved, he would transform tesla into something like elon musk. elon musk said in a blog post announcing his intention is that he didn't think that tesla would be for ever in public markets. he said once it hit a period of sustained steady growth he would consider returning to the bulls and bears are wall street. —— would be forever other public markets. the social media firm snap beat a

tesla getting a pop from a tweet from mr.ing the company private, that the funding is secure at 420 bucks a share. a tweet he follow up ten minutes ago with good morning, smiley face. so when we want to decipher what someone is saying on twitter we go to our twitter expert on set, charlie gasparino. >> i know nothing about finance, just twitter, right? connell: what's he doing? first off, one of the things i openly worried about whether the tweet is his, whether someone hacked his account. connell: not only hacked but he had an april fool's thing joking about the company going bankrupt. >> i don't know if he was joking around, maybe talking about the possibility. connell: whatever. >> he's been known to have an interesting sense of humor on twitter. apparently it's his, so he is somewhat thinking about. this we should point out that anybody that's in elong musk's seat would think about going private. it's a heavily shorted stock right now. the legendary short seller thinks -- he's not calling it a fraud, but thinks it's going

mr. musk wants to privatize tesla. no word on the leveraged buyout.ington this morning. good morning. this is "bloomberg surveillance." live from our world headquarters in new york, tom keene, francine with me. it is the single biggest deal since the trump election. mike allen publishing on the suburban vote outside columbus ohio. it is game changing this morning for all of american politics. is, a lot of people aren't calling it yet, but i wonder whether the president's rhetoric changes. tom: very interesting. kevin cirilli knee-deep in this. here is taylor riggs. >> the u.s. is escalating the trade war with china. the government will start additionalties on an $16 billion two weeks from now, including products that include motorcycles, turbines, and railway cars. china has bad to retaliate. crisis has not had an impact just yet. imports and exports surged. in ohio, a republican candidate backed by president trump holds a new route lead in that special election. 1700s a little more than votes as a lead. provisional ballots have to be counted. the rac

mr musk says the deal would pay $420 a share and take the company back into private hands. he says he already has the financial backing. tesla shares closed nearly 11% up, valuing the company around $82 billion, and mr musk‘s offer represents a 10% premium on that. but why would he want to? well, just last week tesla posted a record loss of $717 million for the three months to the end ofjune. taking the company private would mean tesla can avoid the prying eyes and demands of investors. mr musk says that will help the firm focus on long—term goals, and that might help it ride out the turbulence over deliveries. one of its biggest problems has been getting enough of its model 3 vehicles made each week. there's still a long waiting list, and it's key to tesla's profitability. oliver smith is a senior reporter with forbes. so, oliver, interesting statement from elon musk — but one that raises perhaps more questions than answers? absolutely, the biggest question is about the funding itself. he said it was secured but we don't know where it is coming from. he has a net worth of about $22 billion, but he will have to raise a signi

tesla boss elon musk has suggested he's "considering" taking the electric car firm private. in a tweet, mrnding shares in the company for $420 — more than they're currently worth. trading in tesla shares was briefly halted when the price spiked on his announcement. our business reporter kim gittleson has more from new york. it is quite a surprising development in the endless saga of tesla and whether it can hit its production targets and turn a profit. now mr musk is saying that he believes because so many investors are betting against tesla's stocks, it's one of the most bet against stocks on wall st, that has created a hostile environment in the company and that is why he thinks taking it private would be better for tesla's future. for that price, $420 per share would give the company a value of $82 billion, that's a significant premium on what it is trading at on the nasdaq, and it would be one of the biggest buyouts in us history. i want to mention that shares in tesla resumed trading for the last 15 minutes here and closed up over 11% on these developments. he is not alone in saying t

mr. wilson about tesla and what is the board to do? s way overnight to a weaker lira. people waiting for a statement from mr. erdogan on the financial system. maybe we are waiting in washington for a statement within the paul manafort trial? it may be a statement from the president and how he will campaign, to the first tuesday of november. stay with us. this is bloomberg. ♪ two, down and back up. our phones are more than just phones. they are pocket sized personal trainers... last minute gift finders... siri: destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet. which could save you hunreds of dollars a year. plus get $150 when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. tom: this morning, call it idiosyncratic thursday. , theuble strengthened kremlin denies they assisted in those murders in the united kingdom. the turkish lira weekends. how will president erdogan respon

a lot of news, tesla, everything else here. trish regan. trish: mr. musk enjoys paying money. if he buys the company he cost himself a lot more. connell: i was saying that is so weird. trish: kind of makes you wonder if is is pulling the media chain to a certain extent. we'll talk about it. thank you so much. breaking now, president trump putting the world on notice, you know what, if you do business with iran no way you will do business with the united states. the stern warning as the president reinstates the toughest sanctions yet on iran. despite the tough talk on trade, hey, we're looking at a pretty nice rally, up 157 on the dow. i'm trish regan. welcome, everyone, to "the intelligence report." ♪ trish: we'll have a whole lot more on sanctions coming up. meanwhile also breaking today, conservatives under attack yet again. antifa protesters has asking and even throwing water at two conservative activists who are frequent guests on our network, candace owens and charlie kirk. watch this. >> just hanging out. [shouting] [bleep] trish: pretty disgusting stuff. two people were

mr. hansen here. you have a lawsuit against tesla? >> no, i represent mr.c -- he filed an sec whistle-blower complaint, tip, as did my other client mr. trip who was also a former tesla employee. i have to say, you know, overall, you know, the allegations that are raised between the two, raised from my experience as a former prosecutor in attorney general's office in new york state, the prospect of violation of federal wiretapping laws, the false report of a terrorist incident involving mr. trip, which is a felony in nevada, and obstruction of justice, all of which are very serious crimes, which if they were -- if they emanated from the top, the ceo, much more serious than any sec investigation, with regard to any ceo of any public company. stuart: well, as an observer of the scene, and you are an observer of the tesla scene, do you think that elon musk is in the right state of mind, if i can put it like that, to be running tesla the car company? >> i think mr. musk from my perspective has a lot of assets. i think he is a great visionary, but i do think at t

tesla a its ceo elon musk. the sec is reportedlyig inveing whether mr.out taking the company private in an effort to hurt short sellers. phil lebeau is intohicago ght. what are the details? what are they going to be looking at? >> this is according to a rept of the wall street journal. three questions are in mind for the sec when it comes to. tes the first one which you mention side what was elon musk's when he sent out the tweet saying funding ist secured $420. was he trying to hurt short sellers and it's one thing to be active and you want the company to go long if you're a ceo and it's another thing and it might be market manipulation if you were trying to send out a message in order to hurt a specific investor. along thosehe lines, sec also wants to know a couple of other things,one, what wa the communication between elon musk and the board of directors and was there any details about the funding secured, the possibility of going p and were any of those details shared with members of the board prior to him sending out those tweets. so those are some

ahead but we pop start with tesla and the unusual tweet by must yesterday that we noted on the broadcast coming up we have the lists are most here's what happened yesterday mr market trading into a tizzy after tweeting quote and considering taking tesla private at four hundred twenty dollars funding secured tesla shares soared then hit a circuit breaker where nasdaq trading was temporarily halted tesla stock ended closing up eleven percent on the day and here to help us out is the forementioned c.e.o. of a stock's wish was our mo while melissa this was really a bombshell wasn't it and mr musk has talked previously about the short sellers that he was gay were going to take a hit this certainly struck them in the shorts didn't it. yes it did and i have breaking news actually to announce right now three minutes ago was just it was just announced that the f.c.c. is investigating what text it out so that is breaking news just happened three minutes ago. doing that and that's great and you know when i when i saw this it did remind me thinking about the back to that circumstance in two thousand and twelve when the netflix c.e.o. reed hastings posted not twitter bu

if he knows the price for tesla knows the price and went to mr. on who is the buyer or who are the buyers. maria: is clear yesterday the securities and exchange commission would be knocking on the door after that tweet. >> this may be a question for security lawyers. does this mean he made a few calls and he was confident he could get the money or does he probably need a letter from the bank saying you have x billion. >> if you look at the details that came on the blog in my mouth and rather than adding more detail and certainty, a little bit more vague. it almost looked like more of a letter of intent for a plan to have a plan rather than adding more certainty to the original tweet. >> is wanting to stick it to the shorts for some time. >> the latest numbers consistent 20%, but i wanted to focus on saudi arabia given that the "financial times" came out with the fact that the increase their share of tesla's, so it's not a sign of confidence and possibly other sovereign wealth funds with a trillion dollars, couldn't they be one of the backers of te

mr. musk did not clarify if tesla itself has committed financing for this proposed transaction shares weren aft after-hours trading yesterday after cnbc's report. >> that multi, multimillion dollar we. >>> porsche has backed its full-year guidance forecasting results between 3.4 and 4.4 billion euros. >>> samsung launched its new galaxy smartphone hoping to grab iphone users it features one of the biggest screens and internal storage abilities on the market. it will start at $999 u.s. samsung has posted disappointing results in the second quarter, recording its slowest profit growth in a year >>> the trump administration has laid out its plan to turn the president's space force dream into a reality vice president mike pence unveiled the project at the pentagon to create a new military branch by 2020. hallie jackson has the details on this story. >> it may be the final frontier on star trek, but in rel lial l it's the next frontier for the military with plans unveiled for the sixth branch of service. >> the united states air force. >> reporter: and the first since the creation of the air fo

>> i can definitely tell you that tesla and mr. musk were well aware we were planning to publish this story so whether the timing is coincidental or not i don't have direct evidence of that. but they had several hours notice we were published this story. and therefore his actions followed and we asked for comment and tesla declined to comment. >> it appears he's tweeted again. definitely know for shares all shareholders remain, will be smoother and less disruptive as a private company. goes to what we were talking about with mike santolli did they even have any discussion, musk and the saudis or did he just ignore them any details? >> my sources tell me musk is in touch with the saudis. he's been messaging. he's fully aware of their share holding. and another person i spoke with today also in the know remember they brought a $3.5 million worth stake in uber a couple years ago and ever since that caught musk's attention and they've been in touch since then according to my sources. if you follow the saudi investment model, they've pr

of tesla would then put pressure on those traders who have taken a bet against tesla share price of short sellers. so if mr the company private just as a way of getting back at the short sellers, that would be a different story. that would be something the sec, the securities and rate exchange commission would take seriously indeed. but it all comes down to mr. musk's actual intent. >> interesting. why do you think musk is doing this right now? what message do you think he's trying to send? >> i think mr. musk has been -- has had a difficult few months. in the most recent earnings call he actually apologized to investors and analysts in the way he treated them on the previous earnings call. things aren't exactly going according to plan, and this could be a temper tantrum by elon musk as a way of saying that i don't have to be bothered answering questions by market analysts or journalists or being under the scrutiny of wall street. this could be may of saying, you know what, forget about it. i'm going to secure the funding myself, i don't have to divulge any details or information. it seems to me mr. musk w

ahead but we pop start with tesla and the unusual tweet by ilan must yesterday that we noted on the broadcast coming up we have a list of our most here's what happened yesterday mr market trading into a tizzy after tweeting quote and considering taking tesla private at four hundred twenty dollars funding secured tesla shares soared then hit a circuit breaker where nest egg trading was temporarily halted tesla stock ended closing up eleven percent on the day and here to help us out is the forementioned c.e.o. of the stocks which was our mo while melissa this was really a bombshell wasn't it and mr musk has talked previously about the short sellers that he was gay were going to take a hit this certainly struck them in the shorts didn't it. yes it did and i have breaking news actually to announce right now three minutes ago was just it was just announced that the f.c.c. is investigating what texted out so that is breaking news just happened three minutes ago. doing that and that's great and you know when i when i saw this it did remind me thinking about the f.c.c. back to that circumstance in two thousand and twelve when the netflix c.e.o. reed hastings posted not

tesla directions, though what kind of information that is is not known. the move suggests that the u.s. regulator opened a formal investigation into the tweet which may have violated securities laws if mrled investors >>> goldman sachs has stopped covering tesla saying it is acting as a financial adviser to the company. goldman did not specify the nature of the advisory role. >>> cisco shares moved higher in after-hours trading after beating fourth quarter revenue and expectations they are also forecasting first quarter sales to come in above expectations we'll hear more from chuck robbins, he will be talking to our u.s. colleagues stateside at 3:10 p.m stick around "worldwide exchange" is coming up soon after this welcome to the xfinity store. thanks, janet. it's my happy place. you can learn how to switch to xfinity mobile, a new wireless network that saves you cash. and you can get 5 lines of talk and text included with your internet. and over here i'm having my birthday party. dj fluffernutter, hit it! ♪ dj fluffernutter simple. easy. awesome. ask how to get $300 back when you sign up for xfinity mobile, and purchase a new samsung phone. visit your local xfinity store today. >>> it

tesla said what mr. musk, that part is fine, it's unorthodox but the part is fine. biggest thing is secured fund pg, i don't know why the sec is taking so long. either he has documentation that he has secured funding, if he does, the biggest buyout in history, if he doesn't an sec violation. stuart: why doesn't apple make a bid, they would like a car company, wouldn't they? >> bingo, absolutely. that to me is the natural play. no banks according to reporters have been in talks with mr. musk about this. apple to me is the absolute perfect fit, they want to get in self-drives cars, this is a perfect fit for elon musk. if he goes there and needs to take the company private, a guy like this needs to be in building, building things not fighting short sellers. stuart: i said at the top of the show, we are right in the middle of summer rally and we are going to open bit higher this morning, nasdaq and s&p, very close to all-time record highs, do you think this keeps going, are we on a winning streak now? >> i do. there's nothing difference, right now except the economy has

mr. musk and tesla, next hour in mornings with maria (vo) when bandits stole the lockbox from the wells fargoan was one step ahead of them. because he hid his customers' gold in a different box. and the bandits, well, they got rocks. we protected your money then and we're dedicated to helping protect it today. like alerting you to certain card activity we find suspicious. if it's not your purchase, we'll help you resolve it. it's a new day at wells fargo. but it's a lot like our first day. pah! thano, no, no, nah.k. a bulb of light?!? aha ha ha! a flying machine? impossible! a personal' computer?! ha! smart neighborhoods running on a microgrid. a stadium powered with solar. a hospital that doesn't lose power. amazing. i like it. never gonna happen. . . . maria dagen: good morning. i'm dagen mcdowell, in for maria bartiromo. pumping the brakes. tesla says it no longer plans to go private. the stock sliding in premarket trading as close to $309 a share at the moment, down 4%. remember that tweet from elon musk, 420, quote, funding secured? uh huh. not so much. they're staying private. i mean pu

mr. musk is fairly sharp to tesla. harpooning him is not good for the stock. one thing i will tell people, i don't think they want to put this company out of business and they probably feel if they did something to hamper his ability to run it, even though he can be quite volatile, that would be a problem for the company. so all of those things will be on the sec's minds as it goes forward with this inquiry. neil, back to you. >> neil: i know it's night and day comparing his propensity to tweet and the president's propensity to tweet. >> not really. >> neil: but i'll say this. be careful. >> but remember, the president is not a ceo of a public company. there's laws. there's a 10b 5 law. a security act of 1935, check me on the date but you can't put out false statements to the investing public. it's cut and dry. it seems like even based on what he said after this tweet that he has these conversations with the saudis that subject to due diligence, he thinks they're on board, that did -- >> neil: or is he talking it? not criminal intent. again, it gets back to be

tesla shares closed nearly 11% up at 63.5 billion valuing the company around £63.5 billion and mr muskthe end ofjune. taking the company private would mean tesla can avoid the prying eyes, and demands of investors. mr musk says that will help the firm focus on long term goals and that might help it ride out the turbulence over deliveries. one of it's biggest problems has been getting enough of its model 3 vehicles made each week. there's still a long waiting list, and is key to tesla's profitability. joining us now is jasper lawler, who's the head of research at london capital group. it is interesting, not only the way he did it, announcing using his twitter feed, not official, he did it, announcing using his twitterfeed, not official, but the idea of taking out private so that investors cannot see what is going on. yes, this is interesting. when it comes to tesla, it is really whether you're buying the shares or whether you're buying the shares or whether you're buying the shares or whether you're one of the many people short selling those shares expecting them to go down. it is the q

tesla. here question go in full mr.s allegations were taken very seriously when he brought them forward. some of claims are outright false. others could not be corroborate sod we suggested additional steps to validate information he received secondhand from his single anonymous source. because we wanted to be sure, we got this right, we made numerous attempts to engage further with mr. hanson to understand more about what he was claiming. and the work that he did in reaching his conclusions. he rejected each of those attempts and to date refused to speak with the company further. that was their statement. it helped bring the stock back just a little. we were down about -- 15, 17 dollars now tesla stock is down about $10. okay came back a little. check the dow industrials. we've come off the high, we were up 100. now we're up 90. you might have missed this this morning. golf bart ringing opening bell at the new york stocks exchange he's honored with a big award and he's going to join us after this. what does he make of t

peloton. >>> so check please is going to be about tesla, and one of the checks is that mr. off a box. he has grown $850 million richer according to our robert frank, just since he made the tweet about a little after noon today to the point of which the stock is halted there. $851 million richer because of the price increase tweet >> i'm stock on what the former commissioner said saying, look, he could be guilty of fraud if the facts aren't true that funding isn't secure i thought it was very interesting that mr. pitt laid out this is what the sec says. >> stocks have been halted almost an hour as we've discussed earlier in the show usually when see something incorrect or not true tesla tends to be very fast to respond. in this particular case haven't necessarily gotten a response yet. i just wonder whether musk got ahead of his team in terms of putting that news out there. >> and who does that remind you of, by the way, with twitter we're waiting for news pending we don't know exactly what that news is, but we should point out that none of the subsequent tweets from mr. mus

people with close ties jim cantrell, and steve westly, former tesla board member, early investor in the company, managingpartner of westly group. mr, some have taken to criticizing the current board for not exercising perhaps enough control over the man at the helm of the company. what was your experience with mr. musk and do you feel as though perhaps it is very hard to manage elon musk? >> well, look, elon is one of the most extraordinary entrepreneurs in the world today. like all great entrepreneurs, he is brilliant, harassable sure, he can be challenging. don't lose sight of the fact, tesla is growing from $9 billion in revenue or 11 billion last year to 19 billion this year the company is still growing way faster than any auto company in the world. it is on a path to becoming profitable in q4 if he can accomplish this, all the other concerns are an asterisk the board is strong. lot of smart people on the board. i think they'll do just fine. >> do you have concern that some shared with mr. musk's mental state, i can that because of the "new york times" story last week, kara swisher on air earlier talking a bit about that, cert

it looks like in 2013, tesla notified investors that mr.usk's twitter account was one place where they may put out information. itfar as the question goes, appears they complied with the guidance issued in 2013. >> what about the fact that elon musk said funding was secured? is it market manipulation of fans fact do not have the funds? >> anytime the executive speak to the markets, they have an obligation to speak truthfully plainly. does he in fact have funding lined up which is one of the biggest questions in a take private transaction, or was there less behind it in which case there may be real questions as to why he made the statement and was there some intent pain on theinflict shorts or some other less appropriate intent. >> let's assume that is the question that will be asked, what is the legal ramifications it turns out that he was just sort of being hopeful? >> it is a little early to speculate about that. the statement was quite certain and did not leave himself a lot of wiggle room. will besomething that looked at in the coming w

tesla private according to bloomberg. the saudi public investment fund has a stake of almost 5% in the electric car firm. mr company off the stock market last week, claiming he had secured funding for the deal which could cost some $80 billion. that is it, we are back in a few moments' time. surveys by consumer groups have revealed that punctuality and customer satisfaction with britain's railways has slumped over the past ten years. which? found thatjust 62% of commuters were satisfied with the punctuality and reliability of services this year, down from 72% a decade ago. joe lynam reports. new timetables, thousands of council services, angry commuters, strike action and rising costs. it's not been a happy time for many whale users and it's evident in a detailed satisfaction survey over the past decade. a study of transport focus data showed overall satisfaction with rail punctuality and reliability has fallen from 79% a decade ago to 73% today, but regular commuter satisfaction fell even further to 62% in that time. on top of that, rail fares could be set to rise by 3.5% next year. that's because train fa

tesla. be careful what you wish for. what is reports mr.tor who said they had been defrauded and that the mosque and board of directors defrauded shareholders in a scheme to manipulate the stock price with the august 728 that he might take as a private in a proposed class-action the complaint filed in san francisco that the scheme was connected in part by completely decimating short-sellers eventually leading to an inquiry to an extension mission and class-action includes investors who bought tesla shares as they were rising in the wake of mosques tweet. the share price later fell. it rebounded a little today. here to discuss this, strategic divider for the new york gop and back with us rick. john, i have to ask you. i don't know where to begin. do you want to go to france or talk about elon musk. [laughter] let's talk about the present. meeting with tim cook. don't think that is a big champion of the present but meets with the president and apple has a vested interest in china. what you think they will talk about? >> they would talk about

will the majority of tesla shareholders approve of mr.e but turned down his offer of money, preferring to stay in the stock as it goes private? comedy,were a romantic that would be a satisfying ending. this is a highly regulated stock market. there are rules here. you can't just wing it. is mr. musk winging it even if he has the prestige protection of goldman sachs and others? alex: it certainly seems that way. muskeeper point is if elon is approaching on a wing and a prayer, what does that say about the way he manages the company more broadly? he clearly demonstrated he does not follow the structures that one expects when dealing with this material information to a public company. what about how he runs that company? it speaks to the broader concerns long-term investors might have. those things would be on my radar and encouraging me to ask questions. tom: mr. musk touches on board action. what have you learned about what this board will do? alex: we know the board is going to meet this week at some stage to evaluate what he has proposed

tesla and so forth. some of the whether it's just mr. musk himself or these losses being targeted and so forth. so waymo and how that plays with google and the rest of these guys in the self-drives cars, great opportunity there. i'd say judge one of the areas that i was really interested in was yelp because when i look at stocks that have outperformed like crazy, i'm looking at 100% on grub hub. we talked about it yesterday 55% out of trip adviser. and things like that then you look at yelp. it's barely ahead of the s&p i think that one has room. that's one o of 240ez nasdaq names that i would say i could buy that one and feel good about it here rather than chasing the ones that have had the unbelievable outperformance. >> let's not make it too comp rated rally. the nasdaq is up 17% year to date it's so far outpaced everything else some of the huge gains, i went down to list of some of the nasdaq 100 performers year to date whether it is netflix or amazon, but there are so many errs the nvidias of the world alumina and adobe. >> i think you can stay with tech in a safe way no some things are ch

tesla bowl. sharp comments on mr. musk. absolutely be furious if anyone tries to get rid of elon musk.ime. this guy is the howard hughes of our time. i want to invest with elon. he needs help. i think there is no doubt he needs help. tom: the howard hughes of our time. i can just imagine the fingernails as well. carefully cropped fingernails are had by bloomberg opinions webb.ent as -- there are a few bulls left. alex: he is the extreme. he is one of the most bullish bulls out there. this points to the blinkers on some of these tesla bulls. he was asked who would you like to see as chief operating officer, and he said tim cook. that is mind-boggling to me. i hope he was saying a tim cook type person. it was not immediately clear that is what he meant. tom: almost irresponsibility. that's go to the bloomberg equity chart. this is the bonds at seven years. up here is par. you are joining this puppy today at 87 on the 100 part. that is not a great chart. that is the lower price. the bond market is voting. alex: yes. this is getting down to the nitty-gritty of operations at tesla. we can f

mr. musk put out the tweet which said he wants to to private, take tesla private, i guess a $70 billion deal, something at $420 a share, he said in the same tweet, funding secured. which usually makes people think you have the papers drawn up, the banks lined up, sovereign wealth funds writing you the check. there is some question whether that is essentially the case in the days following that tweet which was put out on august 7th. what we have the se c-ramping ups it investigation or scrutiny of the tweet whether it is materially faust. we were the first to report this, the fox business network learned that tesla received subpoenas from the sec about the veracity and the materiality and truthfulness of that tweet. the investigation has gone from informal inquiry where the sec calls up company officials which they initially did, which was previously reported, which was not previously reported now, subpoenas and a formal inquiry by the sec. so the question is, what could happen to mr. musk? first of all if he is just under investigation, there is to finding of guilt just yet, i think they're

mr. musk chose to communicate the idea of taking tesla private.pt using quotations many of us assumed we looked at tweets and talking about a traditional go private that this, proposal, this consortium with china biological products is structure a lot of his shareholders converted from public to private. and then still the need to have a huge investment. not debt but equity from the third party or a number of sovereign funds lead by the saudis, apparently, according to mr. musk. >> yeah. the analyst community suddenly realized maybe there wasn't as much meat on the bone. >> yeah. behavior is hard to keep track of it. you know, david, there's another time we would be talking about how you can't text and drive. >> yeah. >> but this is, obviously, behavior that is very hard to process from the point of view, say, a company that's why jpmorgan devastated. >> yeah. >> holy cow, david ph let's see what he does but medical leave is not so far fetched after that piece i'm not a doctor. >> it's loud and clear what you said you believe -- well i changed you

mr. musk. lisa: what could be potential consequences for elon musk as well as tesla's board if the sec comes downrcumstance? generally speaking, what you would expect in a situation like this, if they found he had violated the law, you expect some sort of a fine and in an amount that would send a message that this is conduct that should not be sanctions. you would expect some sort of seas and desist order saying he would not -- cease and desist order saying he would not violate this again. face, as i understand, shareholder lawsuits of attacking the tweet as misleading. that could be another fight he has to front. lisa: that is a whole different issue there. scarlet: keith, how would you advise elon musk if you were advising him now? keith: if i were advising him now, he has obviously done the right thing by hiring first-class advisors, at least by what i read. he has hired people to bring guidance and advice to the process. he came out with a statement saying what he actually meant. i would urge him to settle this thing quickly. the last thing he wants to have hanging over him, if he wants to ta

mr. musk may need to raise cash to buy tesla, which first read on this note came out, stock price by the is down for tesla, would seem to challenge his own statement, deirdre, the other day which said, we're quoting, funding secured. >> based on what we know now seems like that tweet was not truthful, and if that is truth that's a problem. yeah, he is legally liable. you spoke with professor scott galloway, teaches at nyu, but he has been an investor. he said the thomas edison of our time is coming off the rails. we have no idea why he would choose, why elon musk would choose to make that statement via twitter, instead of via a regulatory filing. that is one of the questions that the se considerate of want to know. connell: goldman note, potential eschews with transitioning shareholder base with this private structure may not be enough liquidity goldman writes for large institutions within the current fund ownership. we wonder if he had the funding secured why he would have went public. if he doesn't, needs to raise cash, as deirdre points out you have another issue. >> you talk about th

mr. elon musk said funding secured, was funding secured? >> elon musk is said to have held talks about softbank investing in tesla, including potentially taking electric carmaker private. >> me know that ultimately, the way they played out was elon doesn't want to lose control of the company, so softbank wasn't happy with the way it was going to be split. that was really the hurdle they were unable to overcome. emily: softbank has an enormous piggy bank and likes investing in tech. if you take them off the table, who is left? >> there are others, of course. we haven't heard other funds connected to it at all, and bloomberg has spoken to 35 investment banks. none of them had an inkling of any kind of investment. it makes it highly unlikely there is someone lined up, frankly. >> what may happen next with tesla? >> the latest that happened is the board is going to meet with advisers next week to figure out what they should do next. whenever there is a leveraged buyout plan or an offer to buy a company, the board has to make sure the interests of shareholders are represented and in this case, they are in a precarious position because they have a

on a blog post why he tweeted about taking tesla private after "the wall street journal" reported that the securities & exchange commission is looking into mrsk's tweets but does elon have more explaining to do? our very own susan li is here with the latest. hey, susan. >> short answer, trish, yes he has a lot of explaining to do with the blog post. not much of a lift in the shares. that shows you how much in the market elon musk still has. basically this log post he has been talking to the saudi arabian sovereign wealth fund, going back two years, on multiple occasions they have expressed interest in taking tesla private. but you know, having these discussions and securing funding two different stories, right? but musk still believes that 2/3 of investors will be sticking with tesla. so he doesn't need all that much financing in order to take the car company private. 420, that is the share price that he says that he will take tesla private. he actually says he notified the board on august the 2nd of his intentions to do just that. that is ahead of the tweet on august 7th. this is the important. this is the process of taking a company priva

mr. musk's $420 figure. we are joined from san francisco by bloomberg's tesla reporter, dan hall. all the folks we have been talking to, including david kudlow, this is going to be quite a big up challenge to get is actually done. >> it's really interesting. in the pastked about wanting to take tesla private. it is not a surprise for people covering him that he has been frustrated with the challenges of being a public company ceo. he said he's trying to forge a path forward that would allow everyone to focus on the long-term future, but where the financing is coming from, how he gets this through, the valuation he wants, what happens to tesla's debt, it is not at all a done deal yet. ramy: he said it is all about creating the environment for tesla to "operate best." is this the better path for tesla to grow out of the watchful eye of investors? dana: i think it is surprising. tesla is still a high-growth company that has a lot of funding needs. they want to build the factory in shanghai, make a lot of products, so they will need an enormous amount of financing. musk said financing

different ways and perhaps as the lead cheerleader for tesla, a real company unless like the analogy you made, jeff what do you think becomes of mr. musk investigators probably sniffing around because of that tweet, as well he talked about how tired he is. is it time maybe for him to take a step back for a couple weeks and let the board figure out what to do next? >> well, this is the time of day when you're at your best, i know you're not tired whether or not he is he had the breakdowns where he was awashed with tears the guy is overstretched you know where the board meets it goes to the plant in fremont, california, and they go into a makeshift part of the place created as a boardroom where they met, again, just the end of last week with a sleeping bag on the floor which is where he's hanging out because he's not just working as chief operating officer and chief executive officer, but he's actually working as the production hand working 50 hours a week or something crazy he claims to be working. you wonder if that's just one of the three to four companies he's running, depending how you count solar city but he has spacex and th

tesla to the airport. without having that funding very secure at all. despite all of this, mr. musk says he has no regrets about sending that tweet. adding pressure the sec is reportedly investigating model 3 production forecasts, many of which turned out to be overzealous. we'll have much, much more on this very, very shortly. i do fir want to get to the white house coins sieve economic advisors chairman kevin hassett is kind enough to join us and does so from the north lawn of the white house. kevin, great to see you. thank you very much for coming on. >> great to be here. on your first show, i guess? connell: not my first show ever or could be the last one. we'll see. let me ask but the president he's comment about earnings reports and we'll move on to other top picks. very interesting to us in this type of business. the president suggesting that american public companies should be reporting twice a year instead of four times a year. in a white house statement it was suggested to us one of the reasons for this, it would insure the u.s. economy remains the most productive in

. >> have you ever >> can i just talk about tesla for a second >> please do >> what i'd like to do is talk about the platform in which mr. elon musk decided to share the news twitter. >> okay. >> that's the untold story which is think about how we're consuming the news today >> so you own twitter? >> yes >> me, too >> me, too >> as it relates to twitter. the stock has done well. it's obviously volatile. we think there's more room to go there. as it relates to tesla, there are other ways to play autonomous vehicles and we'll talk about apptiv i'm sure >> we will >>> we'll take a quick break here's what else is coming up on "the halftime report." >>> is boeing about to make a big move wait till you see the price target by this analyst "call of the day" is next. >>> plus, the options activity that jon najarian is seeing in big stocks his long list is next. >>> before the break, what happens to walmart after beating estimates. our partners at kensho said the 6%ock dropping an average of 3. in the next week. "the halftime report" with scott wapner and the traders is back in two minutes alerts -- wouldn't you like one from th