Mike728

What ever happened to Tesla pulling the Disney+ app off of their vehicles? It's still up and running on ours. I thought Musk was all pissed after Disney pulled their advertising from twitter/x.

I think the drugs are taking their toll on him. He needs to go back to leading and spend less time throwing temper tantrums.

AMIRZA786

I doubt that. They will purpose a new compensation package as I understand. And yes, they are incorporated in DE. He could be sued in Texas as well. I think, and someone correct me if I'm wrong, the idea is that a Texas court would be friendlier to him

Allen K

iTrader: (4)

The argument being made (and that the judge accepted) was that the board, which is supposed to be independent, was acting in the best interest of Elon instead of the best interest of Tesla. Essentially, they're accusing him of building a BOD that would do whatever he wanted including giving him the $55B comp package that he supposedly came up with himself.

LeX2K

What do you base this on? Until now there has never been a judge that nullified a BODs.
That's fair, but the upside is spectacular.
If you believe the stock will never go over $305 until the end of time then yes, sell it all. If you do believe there is upside beyond $305 then you're making an emotional decision not a financial one.
I don't believe you, you're just venting. I was losing it 1 year ago until I came to my senses and realized the opportunity. This is not peak fear the sky is falling not even close. When I first starting investing every single thing I read said Tesla was doomed. Same for this forum, there were 2-3 people bullish the rest said legacy auto was going to crush Tesla, Tesla would never make money, their only hope was to be bought out etc. etc. it was endless. Hatred and generally buying into FUD cost many people an incredible opportunity. I feel like I'm in a version of Groundhog Day it's happening again.
Not some shareholders, one. Single. One person with 9 shares. The judge in this case (same one that forced Elon to buy Twitter) started her judgement by saying, "Is Elon too rich?"
It did go to zero, as of now he worked since 2018 for free.

Elon is tested all the time because of government contracts.

Board of directors are elected by shareholders.

Allen K

iTrader: (4)

When it's time for a proxy vote, have you ever looked into the board members and put thought into whether you should vote for them? I certainly haven't

LeX2K

Of course I do, it takes less than 10 minutes to do basic research on the board members. You claimed Elon built a BOD he wanted as to execute his evil scheme now you're saying people just blindly vote. So he got his very friendly to him BOD by accident.

Since the compensation package was approved by the board investors saw a 10x return. Imagine suing for that, and people believing this person taking legal action is on the level. Even more insane is claiming the board acted against the interest of Tesla, really? How much better could the company have executed?

Allen K

iTrader: (4)

Lol I'm sure that 10 minutes is very enlightening. I claimed nothing, it's the judge saying the board members were beholden to Musk either personally as friends or financially

https://www.msn.com/en-ae/money/comp...ff/ar-BB1hyOC4

Judge's decision here: https://assets.bwbx.io/documents/use...paOEefQse00/v0

The board also settled a lawsuit and had to return $735M in stock and options because of accusations that they overpaid themselves starting in 2017

swajames

It doesn't matter much whether the plaintiff had 9 shares or 9 million, the point was one of principle and it was litigated accordingly.

It's somewhat analogous to class action suits where the actual plaintiff may have only a limited individual claim but the matter being litigated extends to others.

LeX2K

Much better than your zero minutes.
Because that never happens. What is the board supposed to be, hostile to their CEO? BODs results speak for themselves, period. Only reason you would not like them is if you want Tesla to fail.

As yes I know what the judge said that's the problem it's not the defense you think it is.

swajames

The board has a fiduciary responsibility to Tesla shareholders. So the question is whether a single person's compensation represents the best use of the funds.

That's not a difficult question to answer. It's clearly no, because it could have funded so many other things like the development of new vehicles, the build out of the charging network and myriad other things that are in better interest of the company and the shareholders than paying it to one person.

Allen K

iTrader: (4)

I actually vote against all board members when it's proxy vote time. I realize that my few thousand shares aren't going to do much vs. the investors that own percentages of the company

The board is supposed to have the best interest of the company and shareholders in mind. Considering they settled a case claiming they overcompensated themselves and Tesla has now lost the $56B comp plan for Musk, it looks like it's time for a new board.

LeX2K

I don't want a new BOD, no thanks. Ross Gerber ran to be a board member thankfully that was voted down the guy is a clown shoe IMO. I certainly don't understand where this notion comes from that board members have to completely unbiased and independent. Look at Meta's BOD tell me what you see.

Allen K

iTrader: (4)

No one has said they need to be unbiased and independent. They have a duty to serve the needs of the shareholder and based on the board settling a previous case and with Musk's comp plan being struck down, the broader argument is that they acted in their own best interest instead of the interest of the shareholders.

LeX2K

So 10x is not good enough. What is the acceptable number?

AMIRZA786

Activist judges have been around forever, on both sides of the political spectrum. But forget about that. I think the reason you haven't seen a judge over ruling a BOD before is because this was the largest compensation package in history. I'm not saying one way or another if he deserved it or not, I'm not qualified to say.

I think Tesla has a huge upside, and can easily reach beyond $305 per share...but Elon has of recent made that elusive. Just look at the rollercoaster ride over the last two years. It goes up, and then he tanks it because he has to speak during the investor calls, or he has to buy X. OK, but enough is enough for me.

I will continue to buy their vehicles though, the best in the industry, with the best infrastructure that exists