“More often than not, innovation is born from destruction. That’s why it’s all too fitting that Tesla’s facility in California was once the site of a now-defunct joint venture between two traditional automotive powerhouses. General Motors and Toyota. In Early 2010, Tesla purchased the 5 million-square-foot facility for $42 million. Tesla took advantage of the soft economy, buying one of the biggest auto factories in the country for just pennies on the dollar (the factory is valued at approximately $1 billion). And that’s not the end of it. After the purchase of the factory itself, Tesla scooped up the usable NUMMI assembly equipment at fire-sale prices.”
http://dailyreckoning.com/transforming-the-future-of-the-automotive-industry/
Related posts:
Natural Gas Opportunities for MLP Investors
Baltimore man gets speed camera ticket for going 0 MPH
Bad Day for Beltway Liberalism: August 5, 2013
Regulators Play the Role of Police, Judge and Executioner: Witness Liberty Silver Corp.
Kentucky Legislature Passes Hemp Bill, Rand Paul Vows Support From D.C.
Scranton Residents Plead for Bankruptcy vs. Higher Taxes
Iran Virtually Ends Drug Executions While U.S. Drug War Marches On
Evangelization vs. Copyright
Knife Control Lobby Considers Response to Mass Knifings at a Texas College
New Chinese law reinforces government control of cyberspace
With Detroit’s Bankruptcy, Anarchists Have Begun Project “Free Detroit”
Police Posing as Punks Bust Rockers: Don't Cops Have Better Things to Do?
Stalemate in US-Germany talks over 'no spy' agreement - report
Some Central Banks Bought Gold; Others Sold
Dutch Government Investigates Inaccurate Photo Speed Tickets