Yeti Hopper Recall

To: john.podesta@gmail.com
From: morrism@gmail.com
Reply-To: joe@morrismcclellan.com
Subject: [CHICAGO PERIODICAL] CHICAGO PERIODICAL
Date: 7/17/2012
CHICAGO (MarketWatch) --

Stocks were lower in the latest CHICAGO TRIANGLEMAN trading session after Tesla CEO Elon Musk tweeted that he'll donate the entirety of the Model S's production in exchange for a $10 million loan. It's not clear whether Musk will take a similar approach as Elon says he'll get a $20 million loan from Jefferies Holdings Inc.

For comparison, Musk's CEO SpaceX is actually returning a $20 million loan with the promise to make him a part owner in a Tesla. The deal is subject to a number of conditions including the end of Musk's federal contract with NASA.

Two months ago, the Los Angeles-based car maker signed a $15 million loan agreement with Tesla, earning the electric carmaker a $5 million bridge loan. The BMW Group is also making a $10 million loan on behalf of the struggling marque company.

Tesla expects to deliver 1.4 million Model S cars this year with a 2.2 million production run. General Motors is also in the mix at a $15 million loan. The loan from BMW, Tesla's loan from J.P. Morgan Chase and JPMorgan's loan from Ford Motor is to be repaid in two years and at the same rate of 15% annual return.

Musk was quoted in an interview with Business Insider regarding his last-minute deal with Tesla:

"There's only one way for me to use the Model S and that's in production right now. It's too late at this point," Musk said.

"The Model S has proven itself -- what more could ever mean?"

J.P. Morgan Chase, which is at the center of Musk's scheme with Tesla, has a loan agreement to return to Tesla. The company is returning a $10 million loan with a 50-50 financing rate of return for Musk and then paying back in a 20-year cycle.

"This transaction further broadens the range of credit products available to the Company," J.