“When a firm can’t go public or get acquired, the venture capital firm has to decide whether to continue investing in that firm,” said Mark Cannice, a business professor at the University of San Francisco who compiles a quarterly measure of confidence among venture capitalists. His latest poll, released Wednesday, pegged that confidence at an all-time low, down 30% from a year ago. “It’s a tremendous fall-off in willingness to invest in this market.”
The credit crisis has hit the country’s leading electric car maker.
Citing “extraordinary times,” Tesla Motors, maker of the battery-powered, $109,000 Roadster, said Wednesday that difficult market conditions were forcing it to delay production of its next-generation vehicle, close two offices, lay off an unspecified number of employees and replace its chief executive.
More at NYT Tesla Says It Will Lay Off Employees and Delay Its All-Electric Sedan Until 2011
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