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Let’s be extremely clear here: That’s fucking crazy. Musk is acting like a crazy person. Financial regulators are extremely dangerous. They’re vindictive when
by village-idiot 8y ago
Let’s be extremely clear here:
That’s fucking crazy. Musk is acting like a crazy person.
Financial regulators are extremely dangerous. They’re vindictive when spurned, have unlimited resources to fight it out, and are absolutely willing to string you up to prove a point.
Rejecting a sweetheart deal and forcing your board to fight is nuts. Pride goeth before...
- pbreit 8y agoBased on the actuality I don’t think anything you wrote is accurate.
- village-idiot 8y agoWhat part was innacurate?
- pbreit 8y agoRejecting the deal proved not to be "nuts". Financial regulators aren't that dangerous. Musk wasn't that crazy as proved out. etc.
- village-idiot 8y agoIt was nuts, because the penalties increased. To be able to stand up against the SEC for 48 hours he paid another $10m (compared to the original deal), paid the board $20m (in purchased stock), and lost the chairmanship for 3 years instead of 2. That’s pretty expensive for 48 hours worth of grand standing. There’s no way to cast the decision to fight and then fold in a positive light. It would’ve been much easier, and introduced far less stock turmoil if he’d just accepted the first offer instead.