Tesla Motors (NASDAQ: TSLA ) co-founder and CEO Elon Musk talked tonight about the company's fight to sell cars directly to its customers, and how national auto dealership groups are trying to keep them from doing that.
At Tesla's annual shareholders' meeting tonight, Musk said, "The automobile association is definitely creating some problems for us, making it harder to get things done." He said auto dealers talk about offering Tesla a franchise to sell its vehicles, but that nowhere in the past nine decades has that worked out for a start-up car company. "In the last 90 years, when did it work?" he asked. "There are no good examples."
Tesla wants to sell its vehicles directly to consumers, which goes against some states' legislation. The company has put up a public fight in several states over the issue. Musk said one of the main problems was that large national dealerships make their profits from services and that Tesla wouldn't be doing that. "Our philosophy in respect to service is not to make a profit on service," he said. "It's terrible to make a profit on service."
Top Consumer Stocks To Invest In Right Now: Oxford Industries Inc.(OXM)
Oxford Industries, Inc. engages in designing, sourcing, and marketing apparel products primarily in the United States and the United Kingdom. The company?s apparel products comprise a portfolio of company-owned lifestyle brands, as well as company-owned and licensed brands of tailored clothing and golf apparel. Its owned and licensed brands include Tommy Bahama, Lilly Pulitzer, Ben Sherman, Billy London, Oxford Golf, Nickelson, and Arnold Brant. The company also holds licenses to produce and sell various categories of apparel products under the Kenneth Cole, Dockers, and Geoffrey Beene brand names. Its primary product line includes the Tommy Bahama brand men's and women's sportswear and related products for affluent men and women with age of 35 and older; the Lilly Pulitzer brand women's and girl's dresses, sportswear, and other products for young women, young mothers and their daughters, and women; the Ben Sherman brand men's sportswear and related products for men ages 25 to 40; and branded and private label men's suits, sport coats, suit separates, and dress slacks. In addition, the company licenses its Tommy Bahama, Lilly Pulitzer, and Ben Sherman brand names for various products categories, including apparel, accessories, footwear, watches, jewelry, luggage, rugs, wall coverings, fragrances and toiletries, shampoos and soaps, gift products, furniture, ceiling fans, stationery, bedding and home fashions, and table top accessories. Further, it operates restaurants under the Tommy Bahama brand name. It distributes company-owned lifestyle branded products through department stores, specialty stores, company-owned and licensed retail stores, and its e-commerce Websites; and branded and private label tailored clothing products through department stores, specialty stores, national chains, specialty catalogs, mass merchants, and Internet retailers. Oxford Industries, Inc. was founded in 1942 and is based in Atlanta, Georgia.
Top Consumer Stocks To Invest In Right Now: S&W Seed Company(SANW)
S&W Seed Company engages in contracting the production of alfalfa seed varieties, processing the seeds, and marketing the certified seed to agribusiness firms and farmers worldwide. It also involves in the production of stevia leaf. The company primarily offers high fall dormancy (FD) alfalfa seed varieties, as well as markets and sells other varieties, including FD 7, 6, and 4 varieties. It sells the seed primarily to dealers and distributors who, in turn, sell primarily to hay and dairy farmers who grow hay for dairy cattle and other livestock; and through brokers. The company was founded in 1980 and is headquartered in Five Points, California.
Advisors' Opinion:- [By Peter Leeds]
A growing population, seven billion, and an increasingly sophisticated diet among China and other developing nations have created rapidly increasing global food demand. According to Food and Agriculture Organization (FAO) data, China’s per capita intake of calories, protein, and fat were well below the world average in 1975, but are now well above the world average. Expect this trend to accelerate in China, as well as India, Pakistan, Indonesia, and other developing nations.
The problem is that there's not even close to enough food, while challenging growing environments routinely wipe out crops.
That's where S&W Seed (SANW) comes in. They breed and develop proprietary alfalfa seed varieties that grow in harsh climates. Global demand for SANW's products just keeps soaring higher. We're expecting their financial strength and solid operational position to translate into further gains in its share price this year. The Peter Leeds price outlook: $8.75.
Top 5 Warren Buffett Stocks For 2014: Omega Protein Corporation(OME)
Omega Protein Corporation, a nutritional ingredient company, engages in the processing, marketing, and distribution of fish meal, oil, and soluble products. The company produces and sells various protein and oil products derived from menhaden, a herring-like species of fish found in the U.S. coastal waters of the Atlantic Ocean and Gulf of Mexico. Its fish meal products include the Special Select, a premium grade fish meal that is targeted for monogastrics, including baby pigs, pets, shrimps, and fish; SeaLac, a premium grade fish meal that is targeted for the ruminant industry; and Fair Average Quality Meal, a commodity grade fish meal that is used in protein blends for catfish, pets, and other animals. Omega Protein Corporation?s fish oil products comprise crude unrefined fish oil, refined fish oil, and food grade oils. Its oil products are used in food production, feed production, certain industrial applications, and dietary supplements. The company?s fish solubles in clude Neptune fish concentrate that is used as the attractant in commercial baits, as well as in shrimp and finfish diets; OmegaGrow, a liquid soil or foliar-applied fertilizer for plant nutrition; and OmegaGrow Plus, a liquid foliar-applied fertilizer for plant nutrition that also helps to control insect and fungus problems. The company sells its products in the United States Mexico, Europe, Canada, Asia, and South and Central America. Omega Protein Corporation was founded in 1998 and is based in Houston, Texas.
Top Consumer Stocks To Invest In Right Now: Rocky Brands Inc.(RCKY)
Rocky Brands, Inc., together with its subsidiaries, designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, Mossy Oak, and Michelin brand names. It offers footwear, apparel, and accessory items to hunting, fishing, camping, or hiking enthusiasts; footwear and apparel to industrial and construction workers, and workers in the hospitality industry, such as restaurants or hotels; footwear products to law enforcement, security personnel, and postal employees; and footwear products to military personnel, farmers, and ranchers. The company distributes its products through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and other specialty retailers in the United States and Canada. It also sells its products directly to consumers through its consumer and business Web sites; Lehigh Outfitters mobile and retail stores; and Rocky outlet store. In addition, the company sells footwear under the Rocky label to the U.S. military. Rocky Brands, Inc. was founded in 1932 and is headquartered in Nelsonville, Ohio.
Top Consumer Stocks To Invest In Right Now: Key Technology Inc.(KTEC)
Key Technology, Inc., together with its subsidiaries, designs, manufactures, and sells process automation systems in the United States and internationally. The company offers automated inspection systems, including Manta, an on-belt sorter; Tegra that inspects products in-air using cameras configured in a tilted-X geometry to look in oblique angles; Optyx; Tobacco Sorters 3 tobacco sorting systems for use in tobacco threshing and processing; ADR automatic defect removal systems for the potato strip industry; and Optyx SG and VeriSym for the pharmaceutical and nutraceutical industries, as well as provides various line solutions. It also offers conveying and process systems to move and process product within a production plant. The company?s conveying and process systems comprise Iso-Flo vibratory conveying systems; Impulse, a vibratory conveyor; SmartArm, a wireless performance monitoring system for Iso-Flo vibratory conveyors; horizontal motion conveyors; rotary sizing an d grading systems for food processing and fresh vegetable packing operations; preparation systems to prepare a range of food products prior to cooking, freezing, canning, or other types of processing; fresh-cut systems for the fresh-cut produce industry; and SYMETIX equipment for pharmaceuticals and nutraceuticals. In addition, it provides standard and custom designed equipment that conveys, dewaters, transfers, distributes, aligns, feeds, meters, separates, grades, blanches, cooks, pasteurizes, cools, cleans, washes, dries, polishes, and packages products. Further, the company offers spare parts, and post-sale field and telephone-based repair services; and RemoteMD, a condition analysis tool for G6 optical sorters and G6 ADR automatic defect removal systems, as well as provides online training programs. It sells its products directly, as well as through independent sales representatives. The company was founded in 1948 and is headquartered in Walla Walla, Washington.
Top Consumer Stocks To Invest In Right Now: Smithfield Foods Inc.(SFD)
Smithfield Foods, Inc., together with its subsidiaries, engages in the production and marketing of fresh meat and packaged meats products in the United States and internationally. The company involves in the production of hog; and produces various fresh pork, beef, poultry, and packaged meats products. It sells fresh pork to retail customers as unprocessed and trimmed cuts, such as butts, loins, picnics, and ribs; packaged meats products, including smoked and boiled hams, bacon, sausage, hot dogs, and deli and luncheon meats; specialty products, such as pepperoni and dry meat products; and ready-to-eat prepared foods comprising pre-cooked entrees, and pre-cooked bacon and sausages. The company offers its products to supermarket chains; wholesale distributors; the foodservice industry, including fast food, restaurant and hotel chains, hospitals, and other institutional customers; export markets; and other further processors. It sells its products through its salespersons an d independent commission brokers. Smithfield Foods, Inc. was founded in 1961 and is headquartered in Smithfield, Virginia.
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