X (formerly Twitter)

This is institutional terrorism.

from The Gray Area:
This fight over the pay package Tesla awarded to Elon Musk is an obvious political tactic. The clear mandate was a disappointment to investors who hoped that the vote might put pressure on Mr. Musk to address slumping car sales or to spend less time on X, the social media platform he owns. These are radical left wing investors and investor groups disappointed in Musk's ownership of Twitter (Now X), the political freedom he has brought back to the social media platform, the relocation of Tesla to Texas where more favorable business and tax policies exist, and his right turn politically. You should think of this as 'institutional terrorism'. They want to hurt Musk financially for his recent actions against their political interests and send a message 'that no one is above the reach of the radical, left-wing, political elites'. One of these investors is Gerber Kawasaki. According to their website, GK looks for sustainable change occurring in demographics, societal attitudes, environmental pressures, geopolitical upheaval, disruptive technologies, and product or service innovation. I don’t think he’s learned any lessons,” said Ross Gerber, chief executive of the investment firm Gerber Kawasaki. We believe that the ratification vote that Elon demanded and coerced is deeply flawed as a matter of law, legally ineffective and does not impact our case,” Greg Varallo, a lawyer for the disenchanted Tesla shareholders who challenged Mr. Musk’s pay in court, said in a statement. Tesla shareholders just voted to approve Musk's pay package, setting up a difficult position for the judge who halted it. Who is she to say how much and to who any company can pay? It is not 'drug money', it is not 'hush money', it is not to cover up gun charges, it's not to protect a President. So, what is wrong with it? Especially if the board of directors and the shareholders agree! Tesla has said it disagrees with [Delaware Chancellor Kathaleen] McCormick’s original ruling and plans to appeal, saying the judge ignored material evidence and interpreted the law incorrectly. Procedurally, before Tesla can file an appeal, the two sides must settle the matter of billions of dollars in legal fees for the plaintiff’s attorneys. Ok, paying the lawyers billions of dollars is another reason. Shareholders also voted in favor of a proposal to relocate Tesla’s corporate home from Delaware to Texas, where the company has its headquarters and one of its key factories. The measure had been criticized by the plaintiff in the pay dispute as an attempt to short-circuit the legal process in Delaware. Tesla has denied any intent to avoid a judgment in that state. This is political and institutional terrorism they are after. More From The New York Times (subscription required): More From The Wall Street Journal (subscription required):

365 Days Page
Comment ( 0 )