• 0 Posts
  • 16 Comments
Joined 1 year ago
cake
Cake day: August 24th, 2023

help-circle

  • I disagree.

    OP: The thread starts saying america isn’t perfect, but at least they can say what they want.

    Reply: The reply is that Iran didn’t start that way either and with project 2025 were headed that way.

    OP: Project 2025 is boogeyman scary stuff, stop trying to scare people and call me when they actually are doing something.

    Me: They’re already murdering women.

    He’s essentially brushing off the start of project 2025 saying the whole thing is talk, when we have actual actions already. (edit: We have every reason to expect more actions.) (edit: just to further clarify… project 2025 started before 2025, it’s a long term plan by the far right they’ve been working on implementing for a very long time)











  • The shareholders chose to do it, it’s their company, they can do whatever they want with it (as long as they weren’t misled as the judge has ruled they were).

    Trying to control what the shareholders do with their company like that is not the way to solve a problem. And if you don’t own any voting shares, then you have no reason to complain about what they decide to do.

    The payment comes out of their pocket, by the devaluation of their stock, when the options are issued and vested. They went into it knowing they’d make a shit load of money if he pulled it off, and he’d make a shit load of money too. The stock has 25x’d since the package was created.

    Edit: Just to be clear here - A better way would be through a high tax bracket that would eat the vast majority of that away forcing him to sell most of the shares (or I guess alternatively sell SpaceX shares, it’d be his choice), but keep in mind it’d be at the rate when each set vests, so it’s not a tax bill on 55b, it’s a series of tax bills on smaller amounts.




  • A Delaware judge recently invalidated the pay package, citing insufficient shareholder approval.

    I don’t know if this is the article (its pay walled), or AI since it’s a summary, or maybe OP, but this is a terrible reporting of what happened.

    The pay package was supposed to be independently created by the board, but it was found out that Elon had a heavy hand in proposing it, including the people helping him craft it. Now, I don’t think this is bad per say, but then the board was supposed to independently vet it, but the board wasn’t really deemed independent, and who they used had ties to Musk. Further, it wasn’t properly disclosed what involvement Musk had in crafting the package in the first place.

    The failure to properly disclose all of this made the shareholder vote void. Had they disclosed it, and had it been approved, it would have been okay.

    It had nothing to do with not having insufficient shareholder approval.