Submitted via IRC for chromas
Elon Musk isn't on his Twitter leash yet, so he's taunting the SEC
On Saturday, Elon Musk settled a lawsuit from the Securities and Exchange Commission claiming that he had violated federal securities laws by tweeting that he had "funding secured" to take Tesla private. Now, days later, Musk has tweeted out a sarcastic message to the SEC:
Just want to [say] that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!
— Elon Musk (@elonmusk) October 4, 2018
Musk has long waged a rhetorical war against shortsellers—investors who borrow shares of Tesla in order to profit if the price drops. Here he's suggesting that the agency—whose mission is to protect investors from CEO misconduct—is actually harming the value of Tesla's stock by enforcing securities laws against Musk and Tesla.
[...] Saturday's settlement required Musk to step down as Tesla's chairman, appoint two new independent directors, and pay a $20 million fine. The deal also requires Tesla's board to "establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk's communications." But according to Recode's Teddy Schleifer, that requirement doesn't kick in for 90 days after signing, giving Musk a few more weeks of unfettered tweeting.
[...] The stock market did not seem thrilled about Musk's latest tweet today. After falling 4.4 percent during the regular trading session, Tesla's stock price fell by another two percent in the minutes after Musk tweeted.
The judge overseeing the case has asked Tesla and the SEC to write a joint memo justifying the settlement. It's due next week. Ordinarily, this would just be a formality, but Musk's tweet is certainly not going to help the process go more smoothly.
(Score: 2) by MichaelDavidCrawford on Saturday October 06 2018, @07:15AM (2 children)
That taking private post is just like something I would do if I got Manic while heading up a big public company
While uncommon, some manic depressives are Manic all the time, some get depressed only rarely
Peer reviewed studies have verified for decades that manic depressives really _are_ uncommonly creative. Consider that I improvise - make music up as I play - on the piano and write a wide variety of fiction and nonfiction. I also draw.
Yes I Have No Bananas. [gofundme.com]
(Score: 3, Interesting) by Anonymous Coward on Saturday October 06 2018, @12:29PM (1 child)
When I was getting started, I did some projects for the manic/depressive (bipolar) founder and CEO of a local midsize company. This was a highly rated supplier to both aerospace and industrial manufacturers, probably a few thousand employees back then. When he was up, it was amazing how productive he was, and how much of a spender--he had Ferrari or Porsche cars stashed in hotel car parks in several countries where the company had a factory. When he was down, it was a good thing that he had hired very competent managers, because he did effectively nothing, not even take care of personal hygiene. The cycle time could be several months and this seemed to get longer as he aged.
(Score: 2) by MichaelDavidCrawford on Saturday October 06 2018, @08:01PM
I'm going to give check signing authority to a trusted friend
I have always avoided management however it to jobs I was forced to be a manager. At both jobs I was ordered to fire a friend. They both really needed to be fired but even so I still feel bad about it decades later
In 2020 I'll hire a CEO then step down from management
http://soggy.jobs/crowdfunding/2018/08/21/ [soggy.jobs]
My indiegogo campaign will launch Wednesday January 16th. It will enable these three
Yes I Have No Bananas. [gofundme.com]