Posted on 09/29/2018 3:14:13 PM PDT by jazusamo
Tesla and SpaceX CEO Elon Musk has reportedly reached a settlement with the Securities and Exchange Commission after his abandoned attempt to the company private.
As a result of the settlement, which is still subject to court approval, Musk will have to step down from his role as chairman for at least three years and pay a civil penalty of $20 million, CNBC reported Saturday. Tesla will also have to pay a $20 million if the settlement is approved.
DEVELOPING
Yeah, it was the Going Private claim.
BUT:
I’d wager if he hadn’t done that stupid Pot Head Shot, he would have squeeked by.
A classic example of hubris.
Tesla.
The 21st century DeLorean.
You’re probably right, both were blatantly ignorant by him.
Too much talk about the perils of AI
Yeah, it was the Going Private claim.
Why is that?
He has to. That “puffing” he made about going private drew the attention of the SEC and they always ban people with loose lips from running a company
The “smart” guy wasn’t so smart after all.
When it comes to leading corporations, just because you had the technical smarts, does not mean that you have the business smarts to run a big corporation. Zuckerberg is in the same boat of people that should not be running large or even any corporation.
So the biggest recipient of corporate welfare broke the law and is now going to repay the government with its own money.
Good scheme if you can swing it.
Supposedly, the deal Thursday morning required him to step down for two years, so his stubbornness of not settling then cost him a year, and probably a bit more money.
My understanding is he’ll still be CEO and running the company, but he won’t be running the board for three years. He also owns 20% of the stock.
I think he’ll still try to take the company private.
So the biggest recipient of corporate welfare.
...
You can’t prove that, because it isn’t true.
Boeing gets more subsidies than anyone else. GM and Ford get more than Tesla.
What is the gov’t going to do with the “fines”?
“Boeing gets more subsidies than anyone else. GM and Ford get more than Tesla.”
Hmmmm, that sounds interesting.
More data, please.
Numbers are good, since libs do not understand them.
Well there goes Tesla.
Guy needed a bit of a govenor, but he had drive and vision.
The Going Private claim had the goal of cleaning out the Shorts (people who profit when the stock price goes down).
They’ll say he was a company insider trying to manipulate the stock price by making statements he knew to be false.
I think as far as Gummint scams go, Elon’s is sorta begnign:
I can’t at this point think of a way outside of Elon that the US car industry could steal a lead on Asia, who are now all, of course, copying him.
Good. He actually called one of the divers that saved the soccer team in Thailand a pedofile.
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