Sean Hannity
 Weeknights, 7pm - 10pm
Sean Hannity

Text Us: #30930
Phone: (800) 616 WBEN
Business: (716) 843-0600
| More
WBEN NewsRadio 930>Audio & Video on Demand>>SolarCity May Not See Light of Day - Tony Ogorek

SolarCity May Not See Light of Day - Tony Ogorek

Sep 8, 2016|

Related Audio:

  1. 3-15 Robey Radio With Mike Robitaille


    Wed, 15 Mar 2017


  2. Student Loan Debt - Ryan Burrow


    Wed, 15 Mar 2017



Automatically Generated Transcript (may not be 100% accurate)

Solar city we're talking about this morning with Tony oak Warrick from a court wealth management in Amherst. Solar city got the once over from state leaders yesterday including the governor. Who are singing the praises of the State's investment in this project but there are plenty of skeptics still including new Tony right. Well who wouldn't take me out of the equation and really talk about. Financial realities. And how to financial markets are are looking at solar city. And it is really a profoundly troubled company. Which is on the verge of bankruptcy. We have and find answers. A racial has called alt delete. All of whom he scored. And again in 8090%. Predictive brink of bankruptcy going out two years. And putting it takes a look at about five different metrics. Kamal with the score the score one point eight or less. Pats are the company is going to bankrupt. So this didn't score. Is minus. Zero point two. Okay you say solar city is on the verge of bankruptcy. Announced by looking at all the financial considerations and all you experts look at and understand more than we do but when you say on the verge of bankruptcy. That means that it could very well happen let's imagine that bankruptcy does happen to solar city. What happens to that building what happens to all these job prudent projections what happens to all of money the states poured into this project. Which there are no jobs there's no companies that notion out. In this state owned a lightning picturing. Facility in the sense that cared for everything they actually. And the you know the crazy part you know you on mosque is is there's a visionary. You know he he's come out with this problem for Tesla biracial or city. Since they came out you know in August. Source got it down 21%. Since the merger was announced tussle stack is up 12% the market doesn't believe it. Year to date source city got his round 66%. They're burning through about 36 million dollars per month and they've got a lot of for a month supply of cash. This company is entirely dependent. The financial markets sports survival so watch what happens. In June. Being in the date they're just burning through cash and need to issue. So they issued 95 million dollars were the what do you think but certain fact millions of benign effect. SpaceX. Which is one of Elon Musk company. We now go to a lot. Company issues a 124. Million dollars. What you can pop those. You love mosque by 65 million of them and two cousins that are running source city about thirty. So. 100 million 124 million. Bond issue from publicly traded company. The clubs are being bought by the principles of company. How can the state be so bullish on this company then. Well because they have to be the case and campers not Yonkers new clothes. You know they're they're whistling typically there and and you know malicious XP comes out and so do we really don't want you know creating negative this is there. And for cats say look what the financial markets doing the capital markets are walking away company the principles have been forced to financial. Now they're running on fumes. And they were never meant that they made a mistake and most famous clock from the gecko and the government here has. No business. Making investments in speculative companies. And by any stretch of the imagination. Source it was just like the company and can disorder can continues with the concept. All of our solar in the concept of green and the cheek but there's. None of this matters if the vehicle that's got to take you there is is fatally flawed. We're talking with financial expert Tony or grow our brother gore wealth management Tony told us that sort of city has about four miles worth of cash. Remaining on hand to be used. What happens welcome January and there's no more money left. I think that this company that is totally dependent. The financial markets so typically what's going to happen as. Market may offer them money but it may be at a very high interest rates which again corn business is going to cripple the company. Were they sell any of these bombs of Elon Musk company is purchased with a felony of that. They can try and sell whatever they want. You know the question is will. You know most sophisticated investors will institutional investors. Look at this stuff and saying. You know I'm I'm more concerned about. No the return of my money then return by money. So you know it is and it's sad. You know the company's destiny is out of his hands it has nothing do with the solar panels that make it has nothing to with the I have. It has nothing to do with any technological advantage. Right now. You know the air so financially strapped. And you know there is pressure on the company from a financial markets there. They're they're they're just depends how they have a larger so other people to give them money to continue to operate. Because this company has never made money. And the losing money at a at a prodigious rate. While lots and lots of questions Tony thanks so much for the insight. Your great YouTube Tony Al Gore with a court wealth management.

Would you like to see more of President Trump's tax documentation released?
View Results

Get it Now

WBEN iPhone App



Photo Galleries

RSS Center