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Can you fire Elon Musk as CEO?

  1. Sep 7, 2018 #1

    nsaspook

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  3. Sep 7, 2018 #2

    TeethWhitener

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    Typically the CEO of a corporation is hired and fired by the board of directors (who are voted into office by the shareholders). In this case, Musk is the chairman of Tesla's board of directors, but it's conceivable that he could be pushed out if there were enough willpower from the rest of the board. (FWIW--I doubt that's going to happen any time soon.)
     
  4. Sep 7, 2018 #3
    He certainly appears a bit unstable these past few months. Maybe the pressure is getting to him. My question is that he's talked about going private. In that case, does he still answer to a board of directors?
     
  5. Sep 7, 2018 #4

    TeethWhitener

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    Almost certainly. The exact answer depends on the laws of each jurisdiction as well as the corporation's bylaws, but many states require a board of directors as a prerequisite for incorporation (that is, for setting up certain types of corporations).
     
  6. Sep 7, 2018 #5
    My son-in-law has been talking about putting a $1000 deposit on a Tesla automobile to get on the waiting list for a car sometime in the future (when it is finally produced). Do you think this is a good idea at this time?
     
  7. Sep 7, 2018 #6

    Vanadium 50

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    There's one relevant atypicality here. (Is that a word?) The SEC could find that Musk's recent tweets were an attempt at market manipulation and hold that he's ineligible to serve as an officer or director of a publicly traded corporation.
     
  8. Sep 7, 2018 #7

    Bystander

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    Do you? Really? Chester?:rolleyes::wink:
     
  9. Sep 7, 2018 #8

    Vanadium 50

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    Do you feel lucky?

    The corporations problems notwithstanding, you might want to Google "Tesla Repair" and "Tesla Repair Parts" to get a number of stories about the difficulties owners are having getting their cars fixed, including cars still under warranty.
     
  10. Sep 7, 2018 #9
    Hey,
    My wife and I, as well as the rest of the family, think this is a terrible idea. I just wanted to see what you guys thought.
     
  11. Sep 9, 2018 #10

    StatGuy2000

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    I had a chance to hear snippets of Elon Musk on Joe Rogan's podcast and I actually found most of the discussion to be quite interesting.

    I am curious about the rest of you -- is the issue people are having is because Musk smoked a joint on air (which is legal in California, by the way)? Or have there been other examples of Musk behaving erratically? Or are the stocks for Tesla falling because issues inherent in the business (again, others on this thread have referred to the difficulties people who have purchased Tesla vehicles have in getting repairs done).

    The more general question would be the future of the electric car in the market place. What is the demand for electric cars such as the Chevrolet Volt or Tesla? And if Tesla, say, goes under, what impact do any of you see for other auto manufacturers currently producing electric vehicles?

    [As an aside, I personally don't see the problem with moderate consumption of marijuana, which if looked at objectively has relatively similar (although different) levels of harm to alcohol while also having certain health benefits.]
     
  12. Sep 9, 2018 #11
    Can't see why not
     
  13. Sep 9, 2018 #12

    russ_watters

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    Legal or not it is irresponsible to be drunk or high at work and very few companies would allow it.
    There have been several other recent incidents.
    That's part of it, yes. Tesla is losing extraordinary amounts of money and even if it weren't, its stock value really makes no sense at all.
    For the foreseeable future, these are fad/niche products, unless heavily subsidized by governments.
     
  14. Sep 9, 2018 #13
    I think it's more toxic to the liver etc. [than alcohol] ... , but I would have to check to be sure.
    if you're lucky to avoid the negative and side effects ...
    I think e.g. in Germany they do, not that I agree ...
     
  15. Sep 10, 2018 #14

    Vanadium 50

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    Tesla has a market cap of $45B and $12B of sales. GM has a market cap of $47B and $146B of sales.

    He claimed he was taking the company private and named a price, and claimed he had already secured funding. At best, this is erratic behavior. Other people would call it "securities fraud".
     
  16. Sep 10, 2018 #15

    russ_watters

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    The answer to this question depends entirely on the reason why he's doing it. Some potential viable reasons:
    1. Willing to spend money to wait in line for the hottest new toy.
    2. Believes in Elon Musk and Tesla's cause enough to be willing to provide them an interest-free loan to help it.

    I mean, I wouldn't, but I've heard of people putting down deposits to get in line for popular low-production rate telescope mounts, so who am I to begrudge that?
     
  17. Sep 11, 2018 #16

    OmCheeto

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    Aside from the AI stuff, I also found it quite interesting. I enjoyed the first 10 minutes, but had to fast forward to the last hour before it became interesting again.

    As far as I can tell, he didn't inhale.
    This is the first time I've ever watched Elon for more than 30 seconds, so I don't know if his current behavior is more or less erratic than before.
    From what I didn't skim over, he reminds me of me.
    Tesla's stocks have shown VERY high shifts since March of 2013. $100 seems to be the "norm". $20 is nothing.
    And the stock seems to have rebounded to a "pre-toking" level.
    Pre-toke: $280
    Post-toke: $260
    Currently: $280
    [ref]
    From what I've gathered, the demand for electric cars is higher than the supply.
    I've been smoking dope for 45 years.
    But like Elon, it's mostly just been an annoying drug that my friends try and make me smoke more of.
    It works for them, but not for me.
    A gram will generally last me about 3 or 4 years. Usually longer.
     
  18. Sep 11, 2018 #17

    OmCheeto

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    Elon also mentioned that Tesla and Ford are the only two American car companies that haven't gone bankrupt. [t = 1:52:25]
    It's a tough business.
    It was tough for me to watch him get teary eyed, when he discussed starting up his business, after the 2008 depression. [t = 1:53:46]
    Joe; "How close did you get to folding?"
    Elon; "Very close"

    I would call it "pure genius".
    But that's just me.

    Video that I'm using as a reference:

     
  19. Sep 11, 2018 #18

    russ_watters

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    So not only is he doing drugs, but he's doing them poorly? This is supposed to increase my confidence level in him?
    While the supply is very tightly constrained, Tesla offered free charging and guaranteed resale value (being phased out) and the purchases heavily incentivized -- until the automaker sells 200,00 cars, which Telsa recently passed. So we will see if the demand continues to outstrip the supply as Tesla tries to pivot from being a gimmick to being a real company.
     
  20. Sep 11, 2018 #19

    OmCheeto

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    Elon kind of covered the opposing view to that.

    1:23:00 - 1:26:17

    "...there is an inherent subsidy, in any oil burning device...

    [ramble ramble ramble]

    ...it's just not paid for, now."
     
  21. Sep 12, 2018 #20

    Vanadium 50

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    So is it your position that it is a good thing when a corporation's CEO (and a major shareholder) manipulates stock prices by making materially false statements?

    Or is it that it's only OK when Elon does it?
     
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