4 ms·

One law we should pass is forbidding C-suites from holding more than one full-time job, unless said job is at some non-profit or just sitting (or chairing) a bo

One law we should pass is forbidding C-suites from holding more than one full-time job, unless said job is at some non-profit or just sitting (or chairing) a board. It really seems like as soon as interest rates rose all of a sudden every "Super CEO"'s business portfolio was in troubled waters.

itsoktocry 2y ago
Why do we need a law? You can choose to invest or not. I mean, tons of shareholders are literally fighting to give Elon another $50 billion in stock, diluting themselves.
- JohnMakin 2y ago
  Well, it seems like if I was bullish on tesla and believed their growth story I’d be extremely interested in making sure that elon gets what he wants, because it seems he is basically threatening to gut parts of the company if he doesn’t. Cannot imagine how this is legal or tolerable, but lots of stuff he does I think this is the case and nothing seems to really matter and number go up.
dpkirchner 2y ago
It does seem like the fact a CEO can work multiple jobs at the same time undercuts the common argument that we must all return to the office.
toast0 2y ago
Do we need a specific law for this? If it's bad for the companies involved, shouldn't that be something their board take care of? If the directors are failing in their supervisory duty, isn't that something a shareholder lawsuit can address?
lostlogin 2y ago
If they aren’t giving a company their full attention, then surely that’s seen the companies performance and share price?
newsclues 2y ago
Why do we need laws for problems the market will solve?
- free_bip 2y ago
  Where's your evidence that the market has been even attempting to solve the problem of people (such as Musk) holding multiple C-suite positions simultaneously? I've seen no such evidence. If anything it seems to be supporting it, given that Tesla shareholders seem primed to vote on giving Musk 50 billion USD.
  - newsclues 2y ago
    If they do a bad job, the stock price drops and they get replaced. You also are not laying out exhaustive and conclusive evidence that laws are needed for this. I think your Elon example isn’t good and has more to do with politics than business/economics.
    - free_bip 2y ago
      You're the one who claimed the market will solve this problem, the onus is on you to provide evidence for your position. Additionally there are plenty of cases out there of objectively terrible CEOs (Elizabeth Holmes comes to mind) that don't get booted out - it usually takes regulators or even the justice department to deal with it in those cases. Which is exactly what's being proposed.
      - newsclues 2y ago
        Did regulators have to wait for a researcher and journalists to get the ball rolling on Theranos? Sorry if your comment wasn’t the parent that I replied to saying we need more laws without any evidence to support that conclusion. And now you bring up Holmes.

itsoktocry 2y ago

Why do we need a law? You can choose to invest or not. I mean, tons of shareholders are literally fighting to give Elon another $50 billion in stock, diluting themselves.

JohnMakin 2y ago
Well, it seems like if I was bullish on tesla and believed their growth story I’d be extremely interested in making sure that elon gets what he wants, because it seems he is basically threatening to gut parts of the company if he doesn’t. Cannot imagine how this is legal or tolerable, but lots of stuff he does I think this is the case and nothing seems to really matter and number go up.

dpkirchner 2y ago

It does seem like the fact a CEO can work multiple jobs at the same time undercuts the common argument that we must all return to the office.

toast0 2y ago

Do we need a specific law for this? If it's bad for the companies involved, shouldn't that be something their board take care of? If the directors are failing in their supervisory duty, isn't that something a shareholder lawsuit can address?

lostlogin 2y ago

If they aren’t giving a company their full attention, then surely that’s seen the companies performance and share price?

newsclues 2y ago

Why do we need laws for problems the market will solve?

free_bip 2y ago
Where's your evidence that the market has been even attempting to solve the problem of people (such as Musk) holding multiple C-suite positions simultaneously? I've seen no such evidence. If anything it seems to be supporting it, given that Tesla shareholders seem primed to vote on giving Musk 50 billion USD.
- newsclues 2y ago
  If they do a bad job, the stock price drops and they get replaced. You also are not laying out exhaustive and conclusive evidence that laws are needed for this. I think your Elon example isn’t good and has more to do with politics than business/economics.
  - free_bip 2y ago
    You're the one who claimed the market will solve this problem, the onus is on you to provide evidence for your position. Additionally there are plenty of cases out there of objectively terrible CEOs (Elizabeth Holmes comes to mind) that don't get booted out - it usually takes regulators or even the justice department to deal with it in those cases. Which is exactly what's being proposed.
    - newsclues 2y ago
      Did regulators have to wait for a researcher and journalists to get the ball rolling on Theranos? Sorry if your comment wasn’t the parent that I replied to saying we need more laws without any evidence to support that conclusion. And now you bring up Holmes.