"One person on the call bluntly asked if the losses would affect their bonuses, which can make up a huge proportion of managing directors' total compensation. (Bonuses may already have been a sore subject, given the bank rewrote the structure for cash payouts...
... in investment banking and capital markets last year.) Gottstein and Chin responded with a call for solidarity across business lines, a nonanswer that eroded their credibility, the person on the call told Insider."
"Thiam had once called Luckin, co-founded by the Chinese billionaire Lu Zhengyao, a " dream client ." Credit Suisse was the lead underwriter in Luckin's May 2019 initial public offering, which raised $561 million, and helped Zhengyao and Luckin on other deals and financings"
"The bank maintained close ties with Luckin throughout the relationship: The company's chief financial officer had been a Hong Kong analyst and investment banker at the bank, and Zhengyao's daughter worked for the bank in Hong Kong, Bloomberg reported last year in April." $LK

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with JC Oviedo

JC Oviedo Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @JCOviedo6

6 Apr
$MS cosplaying as the squid.....

cnbc.com/2021/04/06/mor…
"But the investment bank had information it didn’t share with the stock buyers: The basket of shares it was selling, comprised of eight or so names including Baidu and Tencent Music, was merely the opening salvo of an unprecedented wave of tens of billions of dollars in sales"
"Morgan Stanley was the biggest holder of the top ten stocks traded by Archegos at the end of 2020 with about $18 billion in positions overall. Credit Suisse was the second most exposed with about $10 billion, these sources noted....
Read 7 tweets
7 Aug 20
Where Musk is confused by what telling the whole truth means
Peak Musk gaslighting.
Read 31 tweets
11 Jul 20
The Model Y is a massive flop.

$TSLA delivered ~3k Model Ys in Q1 and ~13k Model Ys in Q2.

Tesla is now cutting the price of the Model Y in the U.S. (before the Model Y is even available in markets outside N.A.)
To put the Model Y price cut in perspective, Tesla had delivered over 80K Model 3s before it launched a lower priced version of the Model 3 the MR in October 2018.

Clearly initially Model Y demand is running materially lower than initial Model 3 demand.
Unlike the Model S, the Model 3, and the Cybertruck, Tesla has never released any Model Y reservation or deposit numbers.

One can likely infer that the numbers were always underwhelming.
Read 30 tweets
9 Jul 20
Some highlights from the Tesla SUA lawsuit filed this week:

1. $TSLA has a long documented history of reports of Sudden Unintended Acceleration. ~70x more SUA complaints than the average automaker.
2. $TSLA tried to solve the SUA issue with Obstacle Awareness update in October 2018

The update only went to cars that had Auto Pilot II hardware installed meaning no attempt was made to solve the SUA in cars without this hardware

Update didn't even address parking situations
3. 1/2 of the SUA complaints come from cars that have Hardware 2.0 installed

Obstacle Awareness is insufficient to solve the SUA defect.
Read 9 tweets
2 Jan 20
One of the 2 completed NHTSA investigations into a $TSLA Autopilot crash was the Joshua Brown crash in 2016.

nhtsa.gov/sites/nhtsa.do…
In January 2017 right at the end of the Obama administration, NHTSA issued a report declaring that there were no safety defects with Autopilot and that autopilot resulted in a 40% reduction in the Tesla vehicle crash rate.

static.nhtsa.gov/odi/inv/2016/I…
The NTSB also issued a report on this crash in September 2017 where it determined the operational design of the Tesla’s vehicle automation permitted the car driver’s overreliance on the automation (ie #predictableabuse) was a contributor to the crash.

ntsb.gov/investigations…
Read 5 tweets
23 Nov 19
Fun Facts to consider after today's deposit pump:

In the Q1 2018 $TSLA Quarterly letter, Tesla claimed that it had Model 3 "net reservations" that "continued to exceed 450,000 at the end of Q1."

As of the end of Sep 2019, Tesla has delivered a total of 356,084 Model 3s.
In the Q2 2019, Earnings letter, Tesla wrote "order generation has shifted nearly entirely to non-reservation holders."

This implies that no more than 200,000 (and likely less than 150,000) of the Model 3 order backlog actually ended up purchasing a car.
The Model 3 was "unveiled" and started taking deposits on 3/31/2016.

At the unveiling event, Musk announced Tesla had 135k orders for the Model 3.

On 4/1/2016 Musk tweeted that Tesla had 180k orders for the Model 3 and then later tweeted that Tesla had 198k orders.
Read 19 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!