Skip to content

BBC’s Compromising Investment In Tesla

April 8, 2016
tags:

By Paul Homewood

 

h/t Stewgreen

 

image_thumb18

https://notalotofpeopleknowthat.wordpress.com/2016/04/07/bbc-provide-advertising-space-for-tesla/

 

As I pointed out yesterday, the BBC have been quite unashamedly promoting the new Tesla model just unveiled.

This has taken the form of several news stories, videos, radio interviews and an I Player radio slot.

In particular, they have repeatedly headlined the “affordable car” slogan, which has been Elon Musk’s advertising ploy for at least two years now.

They have also quoted US prices, which have then been misleadingly converted into sterling, ignoring the fact that UK car prices tend to be much higher than US ones, because of taxation and other factors.

 

It must surely therefore be a total coincidence that the BBC Pension Fund happens to hold £19 million of Tesla stock, making it the 15th largest individual equity investment.

 

image

report_and_accounts_2015-1

 

 

As the BBC itself points out:

The California-based company needs the vehicle to prove popular if it is to stay in business.

 

It would be a shame if that £19 million went down the swannee!

 

Ironically, the Pension Fund also has large holdings in (tax dodging) Amazon, (climate wrecking) Shell and (all round baddies) Imperial Tobacco.

To paraphrase Del Boy:

“ A conscience is fine, Rodney, but business is business!”

18 Comments leave one →
  1. April 8, 2016 6:50 pm

    Such a nice sprinkling of leftist goodies: Google, Facebook, Whole Foods Market, etc. Probably not the wisest investments, but your leftist friends would purr.

    • Graeme No.3 permalink
      April 8, 2016 11:03 pm

      Except for the money in BP, Royal Dutch Shell and Imperial Tobacco. Perhaps they bought them as a hedge against the more fashionable picks.

  2. roy andrews permalink
    April 8, 2016 6:58 pm

    It’s very misleading to simply convert the US price into pounds. e.g. The entry level Jeep Renegade sells at $17.995 in the US. This converts to £12,745 (8.4.2016). Entry level Jeep Renegade in the UK starts at £19,495. No chance that the BBC will acknowledge this methinks.

  3. April 8, 2016 7:27 pm

    Besides the sometimes spontaneous combustion that seems to hit these cars with some regularity, there’s this:
    http://qz.com/549167/tesla-has-discovered-new-energy-source-burning-shareholder-cash/

  4. Jackington permalink
    April 8, 2016 7:42 pm

    On the other hand they also have £56m in Shell + BP .They obviously have much more faith in fossil fuels.

  5. April 8, 2016 9:28 pm

    ‘It must surely therefore be a total coincidence that the BBC Pension Fund happens to hold £19 million of Tesla stock, making it the 15th largest individual equity investment.’

    Didn’t

    • April 8, 2016 9:30 pm

      [oops – continued] …didn’t quite get that ‘therefore’ 😉

  6. BLACK PEARL permalink
    April 9, 2016 12:03 am

    Another Conflict of Interests in their reporting

  7. Grant Burrows permalink
    April 9, 2016 4:28 am

    Dobro utro Comrade Alan

    Further to the unashamed advertising of Tesla by the BBC. Turns out BBC Pension Fund just happens to hold £19 million of Tesla stock.

    Given all the hoo hoo the Beeb is making about the Panama scandle this beggars belief.

    A ‘must read’ Comrade Alan:

    On Friday, 8 April 2016, NOT A LOT OF PEOPLE KNOW THAT wrote:

    > Paul Homewood posted: “By Paul Homewood h/t Stewgreen > https://notalotofpeopleknowthat.wordpress.com/2016/04/07/bbc-provide-advertising-space-for-tesla/ > As I pointed out yesterday, the BBC have been quite unashamedly promoting > the new ” >

  8. John F. Hultquist permalink
    April 9, 2016 5:42 am

    Thanks for these sorts of ironic/humorous things. Off to bed with a chuckle.

    Do you suppose the BBC Pension Fund’s decisions-to-purchase are based on the stories presented by the BBC?
    It makes no difference to me but seems less than wise.

    I think Tesla might be a shooting-star stock. Started at $17 and is about $250.
    So far, so good – if BBC got in early. There is competition coming. Getting out on time will be important.

    • Edmonotn Al permalink
      April 10, 2016 1:39 am

      I would say get out soon as Tesla’s latest earnings/share are $-6.89 USD
      Amazon is another trading near 470 times earnings.

  9. April 9, 2016 7:19 am

    This says it all. http://www.bloomberg.com/gadfly/articles/2016-04-05/tesla-s-own-model-3-finance-deal

    The BBC Pension Fund should gte out fast!

  10. April 9, 2016 8:48 am

    No I am not saying that the BBC is compromised cos it owns shares in Tesla.
    In my comment I make it clear that the bias is due to failure of the Mummy and Daddy’s in BBC management. They have led to a culture of saying that GreenDream religion is OK.
    – So the kids in the Pension Fund dept have followed that culture ..and invested disproportionately in Green. We don’t know how much cos 90% of the BBC investments are hidden in in other investment trusts ..So for example they might indirectly own much more tesla shares.
    – The kids in programme making often follow the same culture of GreenDream religion ..soleap into promoting anything to do with the cause.

    Come Climate Nuremburg it’s the bosses and harrabin who will be in the dock no the kids.

  11. April 11, 2016 11:31 am

    GUIDO UPDATE BBC’s pension fund £84 million in Bermuda : The BBCPF 2013 accounts… page 16 and it is disclosed that the BBC invested £84 million: with Nephila Capital Ltd a Bermuda domiciled company.

    That was 2013, BBC_Pension_Trust_Voting_disclosure_2015 shows at first glance
    TWO Bermuda based funds
    TWO Cayman Islands based funds
    Plus all the Green and tech firms they are always banging on about
    ..And no fracking companies
    …bit odd isn’t it
    “Blackrock Investment Management Ltd was appointed to manage a renewable income fund;” BBCPF report_and_accounts_2015

  12. April 13, 2016 7:25 am

    Another update Tesla has now moved up to their 7th valued at £23.4m As of Dec 2015 (news accounts from a B-BBC.org link)

    – Tencent Holdings is a Chinese investment holding company. mostly media
    – Illumina, Inc. is an American DNA sequencing tech corp
    I must stress that the numbers like £23.4m are quite small in a £13 billion fund which hides most of its green investments in third party funds.

    B-BBC also said “compare the BBC’s top 100 investments with the Guardian’s list of 100 FTSE companies that use tax havens…spot the similarity?”
    Yes you can copy the BBC’s top100 into a spread sheet, and click sort alphabetically.
    Then copy and paste that 100TaxHaven list alongside ..and you’ll see quite a few matches
    …. Maybe 10 to 30%

  13. April 13, 2016 12:06 pm

    It’s for law-makers and politicians to define fair and correct financial regulations. They seem to have failed dismally on a world-wide basis: the UK and USA having a fair role in this!

    I hope that my pension fund are taking full advantage of the opportunities within the laws.

    The BBC pension fund has a duty to its members to make money, not to please priests and moralists: otherwise we all pick-up the pieces.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: