RIP Philo

Boys out. No business in there. Only one rescuer died.

The good news is that the boys are out. The bad news from a few days ago is that one SEAL died while placing tanks for the rescue.

My dad in law's barber is from the area in Thailand.  She says that everyone in the area knows that you don't go near the caves in this season. The access is only save during the dry season. She says the boy's coach is in so much trouble!
Permalink Legion 
July 11th, 2018 11:43pm
Yeah that's been clear for a while. He'll have to face some consequences. Maybe the cave will get a warning sign added, but what good will it do in that everyone knew already not to do that.

Farms for dozens of miles around were totally flooded, their crops ruined for the year.

They pumped 2.7 trillion gallons of water out of that cave.

What sort of cave has 2.7 trillion gallons of water? hat sort of pumps did they have? It's amazing.

The pumps failed shortly after they got the last boy out. Water gushed in.

There were still 100 scuba guys still cleaning up and pulling out tanks.

They started screaming. These 100 rescuers almost died at the very end.

So yeah a guy put them at that risk by doing something really reckless.
Permalink Reality Check 
July 12th, 2018 12:19am
The warning sign in front of the cave cautioned visitors against entering the cave during the rainy season from July to November.

Looks like opinion is divided: Thawatchai Thaikhiew, the deputy permanent secretary for Justice, said he was worried that the coach may consider it his fault and may not forgive himself. This could lead to depression.

“I ask all Thai people to send him moral support for our hero coach Ek. If anyone meets him, please tell him that he is the one whom I would love and hug the most,” he said in his Facebook post
Permalink Craggie 
July 12th, 2018 6:33am
"The warning sign in front of the cave cautioned visitors against entering the cave during the rainy season from July to November."

Ah ha. That changes everything. Not the coach's fault. They went into the cave in June, when according to authorities it was "safe".
Permalink Reality Check 
July 12th, 2018 9:51am
Global warming almost kills a bunch of kids.
Permalink Almost Anonymous 
July 13th, 2018 9:14pm
Wishful libtard thinking. Nothing global warming about rain in Chiang Rai on June 23rd
Permalink X 
July 13th, 2018 9:58pm
The coach has created a tourist treasure for decades to come. He will get very rich and will be honored by the govt. The families of the boys will be eternally grateful.
Permalink jsdsfoghjsohjos 
July 14th, 2018 1:20am
Rescue officials said the museum would showcase how the operation unfolded, predicting it would be a "major attraction" for Thailand.
Permalink Craggie 
July 14th, 2018 8:10am
Holy shit that was fast.

Macabre, but realistic. They are right. People are going to want to go to this remote rural region to see this giant ass death cave. So they are smart to start getting infrastructure in place for that. Hotels. Roads. Staircases in the cave, paths, a water alert system.
Permalink Reality Check 
July 14th, 2018 10:25am
Main rescuer weighs in, and bashes Musk, too;
>>“These kids were just totally unlucky. Wrong place, wrong time,” he added. “It happened very quick. You can’t blame the coach, you can’t blame the kids.”<<
Permalink Legion 
July 15th, 2018 7:25am
Now Musk retaliates and calls the Brit master diver a pedephile.  Musk has really lost his mind.
Permalink Legion 
July 15th, 2018 4:36pm
That said, accusing the diver that found 13 people trapped in a cave and worked to save them for over two weeks of being a pedophile—just for having the temerity to criticize his unused submarine—could be safely called a new low.

Ruseman/Bored levels of human garbage.
Permalink X 
July 15th, 2018 7:02pm
Holy fucking shit. This is like John Schnatter ranting about "niggers" during that Papa John's stockholder's conference call last week, for which the board promptly fired him.

No one has the balls to stand up to him, but that accusation is actionable libel and slander. Hope that HERO sues the fuck out of the asshole Musk.
Permalink Reality Check 
July 15th, 2018 8:54pm
Permalink Reality Check 
July 15th, 2018 10:26pm
It's easy to see why.

Most people probably know that Tesla is losing money and struggling to meet their promises. But what most probably aren't aware of, is how their debt is structured.

This is incredibly important. In fact, I'd say it's the only single factor that either pushes Tesla towards bankruptcy or towards a financially sustainable path. Tesla has a lot of convertible debt, which are bonds that can be swapped for equity if the stock reaches a certain price.

Why is this so important? Because Tesla struggles to find financing elsewhere. Their bonds are rated as junk (below Greece, if you want a reference point) and trading at a corresponding level. Meaning if they want to raise debt, they would have to pay a very high interest rate on it. Their z-score (which is a mediocre measurement at best for single companies, but does work statistically in predicting bankruptcy) indicates a very high probability of bankruptcy.

Raising equity may seem like the right move here, but Tesla has previousy inexplicably raised debt when they clearly should have raised equity. Rumours (not helped by rapid CFO and other senior management departures) say this is because of an SEC investigation. Regardless of the reason, Tesla seems unable/unwilling to raise stock.
Permalink Financial Analyst 
July 15th, 2018 10:29pm
That means that making sure those bonds convert as opposed to settle in cash is the number one priority for Tesla. The first he can realistically convert is $920MM in less than a year if the stock price is above $359.87. Then in 2021 almost $1.4bn at $359.87 per share and almost another billion in 2022 at $327.50 per share.

The march 2019 maturity is really closing in.

This is why keeping the hype of Tesla up and keeping the reputation of the company is so extremely vital right now. And if you ask me, the reason why Musk seems to be getting more erratic, media hungry and most of all extremely defensive every day. They're not going to find this amount of cash this cheaply and this fast elsewhere.

It's really incorrect when people say the reputation of the company doesn't matter for its internal success. His whole company hangs on the stock price. Which, in the short term (and between now and March is definitely the short term), is really just a popularity contest.
Permalink Financial Analyst 
July 15th, 2018 10:29pm
If GM or any other major car manufacturer behaved the way Tesla did their shares would tank.

We are observing the bigger fool theory in full flight here.
Permalink Financial Analyst 
July 15th, 2018 10:31pm

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