It comes just days after Musk announced plans to cut more than 10% of its global workforce.
In a memo issued to staff Musk said there was nothing he hated more, “but it must be done”.
I am speechless, are his employees and shareholders buying this ****?
No, most shareholder don’t have voice in big corp. Only a handful of shareholder who invest ton of cash can speak
Most of TSLA is held by retail. Institutional investors are around 13%, Elon is around the same. (From memory)
Elon said he and his brother will abstain from the vote. They’re also going to spend millions to influence the vote.
It’d be pretty stupid for the shareholders to approve either. They also want to move the incorporation from Delaware to Texas, because apparently Delaware isn’t corporation friendly enough.
It’ll be interesting to see whether common sense or propaganda is more effective on TSLA retail shareholders.
I’ve voted in quite a few board elections as a retail investor.
Employees on the other hand …
Unless you have to mention that you’re a significant shareholder when making trades of the stocks, you have zero influence on what the company is doing.
*Elon Musk seeks to award Elon Musk $56 billion
Conveniently covering the amount of principal + interest on his purchase of his latest nazi propaganda outlet.
I guess we are going to find out exactly how stupid the remaining Teslas stockholders are.
Well I own it through my SP500 index fund. I’m trying to determine how to best contact the fund managers. I have a well thought out and reasoned rationale why Elon shouldn’t remain CEO and I will be heard:
- Repeatedly failed to deliver products on time
- Product offerings are insufficient in terms of engineering for cost
- Design process leaves gaps in engineering causing greater issues
- Product offerings are uninspired and boring
- Valuations are driven by CEO repeatedly trying to scam investors for developments that are over budget and over schedule
- Numerous, numerous Conflicts of Interests by CEO
- Concerns about the CEO’s physical and mental health
- Concerns about the CEO’s national security obligations
- CEO’s pay is ridiculously beyond the norm for his obligations and the rest of the sector
- CEO has not seen any stock growth in the past year
