Elon Musk and Twitter

[Kirkland Laing]

https://twitter.com/danaroach/status...10112102301710

[Master]

https://twitter.com/danaroach/status...10112102301710

What a complete and utter tosser Musk is.

[Master]

Tesla chief executive Elon Musk's record-breaking $56bn (£47bn) pay award will not be reinstated, a judge has ruled.

The decision in the Delaware court comes after months of legal wrangling and despite it being approved by shareholders and directors in the summer.

Judge Kathaleen McCormick upheld her previous decision from January, in which she argued that board members were too heavily influenced by Mr Musk.

Reacting to the ruling, Mr Musk wrote on X, external: "Shareholders should control company votes, not judges."

Tesla vowed to appeal against the ruling, saying the decision was "wrong".

"This ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners – the shareholders," the electric car company said in a post on X.

Judge McCormick said the pay package would have been the largest ever for the boss of a listed company.

Tesla failed to prove the pay package, which dates back to 2018, was fair, she said.

Mr Musk, the boss of X (formerly Twitter) and SpaceX as well as Tesla, is the world's richest person. His current net worth is estimated at around $350bn, according to the Bloomberg Billionaires Index, external.

He has used his platform to make his views known on a vast array of topics, and his status seems set to climb higher still following Donald Trump's victory in the 2024 US presidential election. The president-elect has picked Mr Musk to lead a newly created Department of Government Efficiency (or Doge - like the dog-related meme).

Trump has said Doge will help the administration "dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures and restructure Federal Agencies".

A Tesla shareholder vote on the payment passed by 75% in June, but the judge did not agree the pay should be so large despite what she called Tesla's lawyers' "creative" arguments.

“Even if a stockholder vote could have a ratifying effect, it could not do so here," she wrote in her opinion.

The judge also ruled the Tesla shareholder who brought the case against the company and Mr Musk should receive $345m in fees but not the $5.6bn in Tesla shares they had asked for.

Some observers said a ruling in favour of Mr Musk and Tesla would have dealt a blow to conflict of interest laws in Delaware.

The idea of conflict rules is to protect all investors, not just minority investors, said Charles Elson of the University of Delaware's Weinberg Center for Corporate Governance.

Mr Elson said Judge McCormick's opinion was well-reasoned.

"You had a board that wasn't independent, a process that was dominated by the chief executive, and a package that was way out of any sort of reasonable bounds," he said. "It's quite a combo."

Mr Elson said he expects Tesla might try to reconstitute a similar pay package in Texas where the company moved its legal base earlier this year after the pay ruling.

https://www.bbc.co.uk/news/articles/cyv3pzm4178o

[Spicoli]

He remains a very foul individual.

[Beanz]

Shit is about to hit the fan

https://broligarchy.substack.com/p/t...ation-collapse

[Master]

I am amazed at how easy Facebook/Meta, Amazon/Besos, and Musk have all bent over for Trump.

Billionaires controlling the media for their agenda.

[Kirkland Laing]

I am amazed at how easy Facebook/Meta, Amazon/Besos, and Musk have all bent over for Trump.

Billionaires controlling the media for their agenda.

One thing I’ve been entertained by for years is that the far-right co-optation of social media has followed almost exactly the arc conventional, now-legacy media took over 30 to 40 years. Move fast and break yourself, you might say.
Start with a longterm campaign of tendentious bias claims, aggressively play the refs and over time build in a playing field reliably tilted to the right. The funny thing is that the tech billionaires seemed totally oblivious to the fact that this was precisely the game plan, exactly the progression the same folks pulled with old media. Now they don’t care. But for several years they took the whole thing at face value. Only it went an order of magnitude faster.

https://talkingpointsmemo.com/edblog...0-d168f20079e1





Worth reading the whole thing.

[Kirkland Laing]

Shit is about to hit the fan

https://broligarchy.substack.com/p/t...ation-collapse

Look at the state of Zuckerberg in that photograph. He looks like Elon's ecstasy dealer.