- #36
Borg
Science Advisor
Gold Member
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Missed that. I just watched the interview outside.OmCheeto said:Does "TMZ" stand for Time Machine Zone?
Missed that. I just watched the interview outside.OmCheeto said:Does "TMZ" stand for Time Machine Zone?
You "just" watched all 3.3 hours of Neil's interview?Borg said:Missed that. I just watched the interview outside.
Doh!OmCheeto said:You "just" watched all 3.3 hours of Neil's interview?
...
OmCheeto said:...
pss. Has ANYONE actually listened to either interview?
OmCheeto said:in the same article, they said this; "On March 21, 2018, shareholders of Tesla approved a performance-based stock option award to purchase 20.3 million shares for Musk."
From my googlings of the stock price that day, that's approximately 6.4 billion dollars.
I'm not really sure what "being awarded stock options" means. Does that mean they gave him a $6,400,000,000 bonus?
If so, it sounds like his institutional investors have A LOT of confidence in him.
Employee stock options are usually quite generous for the C-suite (as in: strike price can often be half the current market price of the underlying stock).CWatters said:But what was the option price?
I will never get used to Wall Street terminology:CWatters said:No. It means they gave him the right to purchase stock at a fixed price sometime in the future. He only makes money if the stock price is higher than the option price on the day he exercises his rights (eg by buying the shares at the option price and then selling the shares at the higher open market price).
...
TeethWhitener said:Employee stock options are usually quite generous for the C-suite (as in: strike price can often be half the current market price of the underlying stock).
OmCheeto said:But your comment did make me wonder how Elon could afford such a purchase
OmCheeto said:A letter from the board of directors of Tesla said in effect that Elon's statement was true.
Statement from the following members of Tesla’s Board of Directors: Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice, and James Murdoch
August 8, 2018
PALO ALTO, Calif., Aug. 08, 2018 (GLOBE NEWSWIRE) -- Last week, Elon opened a discussion with the board about taking the company private. This included discussion as to how being private could better serve Tesla’s long-term interests, and also addressed the funding for this to occur. The board has met several times over the last week and is taking the appropriate next steps to evaluate this.
CWatters said:"On funding Musk added...Only reason why this is not certain is that it's contingent on a shareholder vote"
I guess this is kind of true. I don't see Elon saying "the support" was signed, sealed, delivered, and notarized.Vanadium 50 said:...We now know that investor support was not confirmed...
OmCheeto said:$220 in Ford stock, as it's value has gone up since 2009, when I bought some for $96. Yay money!
Which company are you planning to buy and then take it private? ...OmCheeto said:Anyone else know how to take a public company private, without incurring the litigious wrath of "the shorters"?
OmCheeto said:I'm guessing that Elon has a few lawyers on staff, and gave him the best advice.
"lawsuit"? As in singular?Vanadium 50 said:Given that he's facing a $1.2B lawsuit...
OmCheeto said:When you're at the top of the game, all the rats will come and try and push you off.
OmCheeto said:I would call it "pure genius".
You still haven't proven to me that he made a materially false statement.Vanadium 50 said:So, let me repeat my last question: " 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? ...
It would not be OK if he broke the law.Vanadium 50 said:He said funding was secured. Funding was not secured.
And you haven't answered my question - is it OK if he did?
Tesla Inc. is under investigation by the Justice Department over public statements made by the company and Chief Executive Officer Elon Musk, according to two people familiar with the matter. The criminal probe is running alongside a previously reported civil inquiry by securities regulators.
I'm suing the Justice Department! They made the stock go down!nsaspook said:
https://www.cnbc.com/2018/09/27/tesla-falls-4percent-on-report-elon-musk-sued-by-sec.htmlTesla CEO Elon Musk has been sued by the Securities and Exchange Commission for fraud, according to court documents filed Thursday. Sources close to the company told CNBC the company was also expecting to be sued, though Tesla was not named as a defendant in the complaint.
Shares of the automaker fell roughly 10 percent in extended trading Thursday.
The SEC complaint alleges that Musk issued "false and misleading" statements and failed to properly notify regulators of material company events. The SEC plans to hold a press conference at 5 pm E.T.
Tesla and the SEC were close to a no-guilt settlement but Musk pulled out at the last minute, according to reporting by CNBC's https://www.cnbc.com/id/105061837.
Under the deal, Musk and Tesla would have had to pay a nominal fine, and the CEO would not have had to admit any guilt, said CNBC's https://www.cnbc.com/id/105061442, citing sources.
But those sources said Musk would have been barred from being chairman for two years and Tesla would have to appoint two new independent directors.
"It was an unbelievably generous deal," said Sonnenfeld, a senior associate dean at the Yale School of Management.
So good, in fact, that former SEC Chairman Richard Breeden said the agency likely sees Musk's and the board's decisions to turn down the deal "as another reckless act by Tesla."
cronxeh said:Tesla board already has 3 too many directors
cronxeh said:dding 2 more would make it the most useless, divergent board in history of corporations.