Senator Elizabeth Warren has written to Dr. Robyn Denholm, Tesla’s Board chair, to raise questions about conflicts of interest, use of Tesla resources for Twitter, and other concerns over Elon Musk’s Twitter acquisition. The full text is below. Highlights [footnotes omitted]: Mr. Musk’s acquisition created unavoidable conflicts of interest. For example, Twitter relies on advertising…
Tag: Elon Musk
Challenge to Musk’s $56 BILLION Pay Package
From Rebecca Bellan via Veritas: As if Elon Musk didn’t have enough on his plate, the world’s richest man is headed to court to defend his $56 billion Tesla pay package. Richard Tornetta, a Tesla shareholder who filed suit in 2019 to rescind Musk’s 2018 pay deal, claims the package — “the largest compensation grant…
Twitter’s Golden Parachutes: Fired Twitter Execs May Receive $141 Million, Reports Say
We predict that Elon Musk’s efforts to cancel these payments by claiming that the executives were fired for cause just days after he took over Twitter will not be successful. Four top Twitter executives fired by billionaire Elon Musk could receive separation packages totaling $141.1 million, according to research firm Equilar, as the world’s richest…
Elon Musk Dissolves Twitter Board, Crowns Himself as ‘Sole Director’
This is why there’s a G in ESG — a governance risk red flag the size of Alaska. We suspect that Musk’s other equity investors will have something to say about this. Elon Musk dissolved Twitter’s board and made himself the “sole director” of the company after all previous members were removed from their roles,…
VEA Vice Chair Nell Minow Quoted on Musk’s Planned cuts at Twitter – The Washington Post
The Washington Post reports that Elon Musk plans to fire up to 75 percent of Twitter employees after he takes it over, according to his sales pitches to potential co-investors. But since he waived due diligence and has only publicly available information, we are skeptical of this strategy. Nell Minow, a corporate governance expert who…
Twitter schedules shareholder vote for embattled Elon Musk deal – The Washington Post
Nell Minow, a corporate governance expert who is vice chair of ValueEdge Advisors, said Twitter’s timing for the shareholder vote, which is a required step in completing the deal, is probably not a coincidence. Holding the shareholder vote before the trial signals that Twitter is continuing the deal as normal.“I think it’s strategic,” she said….
Twitter Sues Elon Musk to Force Him to Complete $44 Billion Acquisition – The New York Times
Our prediction is that this will end in a settlement with Musk paying somewhat less than the $1 billion kill fee he recklessly agreed to when he even more recklessly waived almost all rights of inspection. This may be Twitter’s all-time highest ROI. Twitter sued Elon Musk on Tuesday to force the billionaire to complete…
Elon Musk Lashes Out After Tesla Dropped From ‘Social Good’ S&P ESG Index
Elon Musk lashed out on Wednesday on Twitter—the social media platform he has perhaps pretended he will buy—to complain that Tesla has been dropped from a stock market index that includes companies committed to the environment, social concerns like diversity, and corporate governance. “ESG is an outrageous scam!” Musk said, referring to the acronym that…
GOP Members of Congress Pressure Twitter on Musk Offer
The Republican party, which once prided itself on being the party of free market economics and support for business and deregulation (VEA Chair Robert A.G. Monks and Vice Chair Nell Minow worked on President Reagan’s Task Force on Regulatory Relief) has become the party of government intrusion on business, the nanny state. if the nanny…
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