Posted on 04/20/2022 7:41:55 AM PDT by shadowlands1960
Florida Gov. Ron DeSantis is threatening to sue Twitter’s board of directors if it doesn’t take the best buy-out offer from tech billionaire Elon Musk.
DeSantis announced today that because Florida’s pension plan is invested in Twitter, he has standing to sue the board for breaching its fiduciary duty to do what’s best for shareholders.
The Tesla billionaire offered to buy Twitter for $43 billion, but the board of directors activated a “poison pill” to kill the deal.
DeSantis says he’s “looking at ways the state of Florida potentially can be holding these Twitter board of directors accountable for breaching their fiduciary duty.” He says his is not a benign threat because his state owns shares of Twitter. “I didn’t buy it [and] we have people that run the fund,” said the Florida Republican, but he said Twitter has some explaining to do. “[Twitter] hasn’t exactly been great on returns on investment; it has been pretty stagnant for many, many years. To me, I think that is probably an injury to the fund.”
(Excerpt) Read more at pjmedia.com ...
I think DeSantis has a better sense to timing and makes the fight unemotional. He understands that timing is everything and applies logical decision with neither emotion nor prejudice. He is sort of the Mr. Spock of the Republican Party
Trump is more immediate in terms of urgency snd appeals to the emotions. He is not afraid to put himself on the line personally and emotionally which works for him. Sometimes a lightning rod commands the most attention.
He is the Captain Kirk of the party.
The combination of the two men would be synergistic beyond comprehension.
— That’s what is just wrote - buying on dips and shorts. Not a good way to make money in the market.
It is a little different, because this is a standing offer for a period of time, not a short market based change.
I sat on two boards...not a dime...
Your post (including the above quote), is excellent. Great job.
I really, really like DeSantis!
He’s one hell of a fighter. He walks the talk.
They’re actually more concerned about regulating speech than turning a profit. JMO.
DeSantis is the real deal!
As a long time Floridian, SELL THAT STOCK Govnah!!!
He’s taken Trump’s playbook, polished it, fine-tuned it, strengthened what worked and tossed what didn’t, and now he’s running with it.
At the end of the day, he's still a lawyer. I'm not impressed with how lawyer presidents have run the country in the recent past. That would be Clinton, Obama and Biden. Trump is a businessman and has a much better grasp of how things actually work in the real world. Problem is, I don't know of any Republican businessman in the post-Trump era that has any chance of making it to the November election in the future. The Republican bullpen is empty.
I think you’re right, but that’s going to be harder to prove in a shareholder derivative suit. Much easier to make the financial argument.
Like it or not, the country is governed by laws/legislation. Having a conservative who understands how that process actually works creates greater potential to make change that will actually stick.
“there is no return on investment”
A stock does not have to pay dividends to have a ROI.
Do you think the board does NOT have a fiduciary responsibility to investors just because there are no dividends?
What DeSantis said is correct.
DeSantis knows that to win, you have to control the ball and score points — which means not letting jeers from the press and the opposition distract you. Too many Republicans go to pieces and cower when criticized.
Nice.
As for comparisons to Trump, I would say that Trump is also a fighter, but what holds him back is extremely poor personnel decisions and a willingness to trust those who have every intention of stabbing him in the back based on mere protestations of loyalty.
I just said that myself. Only, I LOVE this man more every day.
I understand what you are saying; but, with DeSantis, we have a good idea about how he would run the Country by how he IS running his State. And, I am impressed with how he has been running his State; and, I bet the citizens of FL are happy as well.
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