Musk blackmailing Tesla's board

Pekelo said:
Because they are there to control the CEO if he is too bad for share holders' value. But they didn't do it in the Solar City buy out, because this is not an independent board, I think at least 2 of them are relatives.

Now this time it is different (from the SC example) because Musk's claim is just outrageous. First he has no new ideas to profit from, second what he demands is unheard of. So if the board let him get away with it by issuing more shares, the share holders could sue the board because they didn't act in their best interest. (actually there was a lawsuit based on the SC bailout too, but they came up with some bullshit excuse) That lawsuit was eventually dismissed.
More...

I would imagine this would result in a huge class action from shareholders.
 
Give home what he wants so he can combine his other tech into a car and we see $1k again. btw, his x got 24 states approval for money services, so a supper app is not too far off, much better than the zucchini.
 
yea..Hes def looking for an out and trying to push all the heat onto the board. The fact that he looking so quickly and openly for an out does not bode well for what may be instore in the coming year. He may feel that china will move on Taiwan and kill off US product relations. This would also bode poorly for apple and amazon. Or he may feel that trump will kill off china-US product relations too much to withstand.

Regardless. He sees the future is in space industry, satellite industry. If he gets his shares...his idea is prolly to take Tesla into this direction https://ehang.com/ ..in a very big way and combine tesla and spacex more closely.
 
Musk will be Musk, he will bully until someone tells him to sit down. The fact is, he's only the CEO and cannot make major decisions without Board approval or risk a shareholders lawsuit.
What he is doing though is taking the share price down by threatening to do something he can't do. I suspect that's what he wants, to reach a package value the Board will acquiesce to.
The alternative was a buyback, but Musk has never liked that.
A number of big name shareholders are getting fed up with Musk's antics and openly question his relevance as CEO (on X, how ironic) while being ostracized by the groupies bleacher.
 
Pekelo said:
I forgot to mention he is a good father and excellent bowler. All irrelevant to the current news.

But do tell, if you were a board member, would you give him that extra 80B? And where those shares would come from? Dilution?
More...

His starter wife would disagree.
 
Rams Fan said:
Tesla is this decade's Bre-X.
More...

Scataphagos said:
LOL! Hardly anybody will get this reference. :)
More...

Not forgotten here! (Bre-X Minerals is accessible as BXM-199705.ca in our database, with a Canadian Stocks Platinum Subscription)

Interestingly, Bre-X became a S&P/TSX Composite stock in late 1996, just prior to its demise.

Every type of shennanigans were involved in this stock:
https://www.investopedia.com/terms/b/bre-x.asp

Log scale chart:

upload_2024-1-19_22-6-10.png
 
Last edited:
The thing to remember is that opposing parties try to make it horrible on the next party in office. Biden realizes that trump will win. This year will mostly be Biden sabotaging the trail for trump..it will get very ugly. Elon wants to be mostly in space and satellites during that atmosphere. He may be distancing himself from the damage...both ER and stock price
 
You must log in or register to reply here.
Back
Top