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WBEN NewsRadio 930>Audio & Video on Demand>>Not On Board With Tesla/Panasonic Deal - Tony Ogorek

Not On Board With Tesla/Panasonic Deal - Tony Ogorek

Dec 27, 2016|

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Automatically Generated Transcript (may not be 100% accurate)

Let's talk about the Tesla Panasonic agreement on the jobs from those for buffalo with a next guest who's Toniu Goran global gore wealth management and Amherst. Panasonic and Tesla today announced Tony that they'll work together to bring photovoltaic cells to the plant in buffalo. Overall though you've been kind of critical of the way solar cities future could unfold. What is your latest today. Well they shouldn't much surprise. Really is pretty you know the whole deal was contingent. Tesla being able all the shares of source city. Aren't into what's called Scott pick up market that was really the bill opt for them. Now. When you look at Panasonic. They basically said we will lecture into an agreement. Where we will finance. The cost of all the equipment at the plant. Under the proviso. And they get the source and Scott. Is allowed to be folded and Tesla. You know by just what shareholders. In that it doesn't happen we're managers do and why. Because the company was going down and once in June it was running action is very difficult situation to be and now there. Contessa shareholders accept the so paying too long article source city. We now know that date out of picking up ten saw and it's in and it's Gary Scott Christ. You know because they're taken into an agreement where they'll look at. Paramount product and exclusive. In return for financing equipment afford this but just to put this in perspective. You know understand. In order for this to happen right now. You get to hear senators Charles Schumer extend this sort credits for pride here. You've also had the confidence got taken off the market. And put under the under the umbrella of Tesla. And you also had any manufacturer. I'm being willing to. Pay for the equipment of the plant. And you also can't escape its New York pumping tree quarters but billion dollars into the apartment and leasing it for I think a dollar here. So for all those pieces to fall into place and say it's a great day again. You just have to wonder. We're able Tony for what you are saying it sounds like there are some of veiled implications. That this deal could fall apart. Well I think that the deal is is is is going to happen. What I am saying to as. The fact of the matter is that the net meter. What you know which is. You know something critical. To the success of any solar panel company is still. You know is is is still in doubt. You know the fact they have. They're going to be and I and I just saw an article a few weeks ago. Other a couple of Israeli scientists are going to have a panel out. Within five years commercially available. In going to double. The efficiency. Of sort technology as we go right now Sorenson knew it. This isn't like buying dairy queen. For the Denny's something. Get Scott a moat is going to be around for years years years. This is something we are very dynamic industry. The technology turns over very rapidly. And and the business not all test the best excuse me or cities had has always been suspect. So you don't still it is this is matching affecting the suspect little investment. And we're going to see over a period of years where in New York investment of record as a billion dollars. And I economic development to one speculative companies in six plays out to the benefit of our community. I wanna do that does see if I can poke a small hole in the argument you made earlier. It's getting support from New York State it's getting the federal tax credits it's getting around now this new support announced this morning from Panasonic. Without much support. It doesn't that mean success will follow. In any other endeavor when you support something to that level when it's got that amount of cash flow on that amount of things it doesn't have to spend on because of the people are paying for it. That would bode well wouldn't it. Well. Let's talk about their produced net eight. Who's the most famous disrupt her. In the world today. I'm sure mr. question my headphones stopped for a second what. You know what what company is the most famous disrupt her in the world today. I have to say Tampa. How I was gonna go ABC Google would go ahead. OK let's say if it's Canada. Do you see them getting subsidies from anyone. Now they've got a business plan that is so dynamic. They're destroying industry after industry after industry and rebuilding it. You know to make it more consumer customer friendly. When you look at meetings this level like art. You know it just calls into question. The viability of the basic business plan and someone has now again. Politically. Well in the presence of pro one of president Obama's and as as closely our democratic governor. You know they have wanted to push on green energy. And that's okay. But now he's got a president coming and who's not as fond as they and you wonder how this is going to impact. What is gonna get into the air to their business model. So get a lot of dynamics going but again what I'm saying this from the investor standpoint. And from a community standpoint. Any time you got offered this level of massive support to something should give you pars and make you wonder does this truly makes sense and and from a text our investment standpoint. Doesn't make sense to put this kind of these kinds of resources. I'm one startup company that has never made a nickel in its existence. All right interesting stuff Tony thanks for joining us up. Always good to hear your youth perspective on a Tony a garlic is with the gore wealth management envoy is bill.

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