4 ms·

They retroactively invalidated several years of compensation packages...

frugalmail 2y ago
[flagged]
mikeyouse 2y ago
"They" of course being the Delaware Chancellory Court in this situation... man people are clueless about how things work.
- rKarpinski 2y ago
  "Delaware Chancellory Court" of course being a political appointee in the home state of the powerful politician whom they had an adversarial relationship with, in this situation... but you know how these things work
  - mikeyouse 2y ago
    It’s always telling when people resort to unclear conspiracy theories instead of disputing the actual evidence that lead the court to their decision.
    - rKarpinski 2y ago
      It's telling when people resort to ad hominem. The government is in the process of confiscating tens of billions of dollars from him - if thats not a real consequence I don't know what is. Wether or not that ruling only happened because of his political position is a different matter, it's not like the judge mentioned it was because of his political posts on social media - like other officials have [1]. [1] https://www.latimes.com/california/story/2024-10-11/la-me-spacex-coastal-commission https://www.latimes.com/california/story/2024-10-11/la-me-sp...
      - mikeyouse 2y ago
        The government isn't confiscating anything.. they merely ruled that the independent board of directors who authorized the richest pay deal in the history of pay deals wasn't truly independent as is necessary to properly represent the shareholders they legally must represent. Every dollar stays with the company.
        rKarpinski 2y ago
        Confiscate: > Take or seize (someone's property) with authority. > To use one's authority to lay claim to and separate a possession from its holder. > to take (something) away from someone especially as punishment or to enforce the law or rules.
        mikeyouse 2y ago
        Tesla had $50 whatever billion worth of stock before his deal, they had it after the deal when Delaware ruled in the shareholders’ favor and they granted it to him again following the subsequent shareholder vote. It’s a real ‘flexible’ use of the word confiscate when the confiscating party never had a dollar of the confiscated funds… I’m sure Elon is annoyed he has to follow basic corporate governance, but that’s kind of the point of governance.
        rKarpinski 2y ago
        So it wouldn't be confiscation or a punishment if the courts said you owed me a few years of your salary - because theoretically I could decide to give it back to you in the future? If you want to wire me a few years of your compensation I will gladly accept.
        mikeyouse 2y ago
        I don’t have a fiduciary obligation to you, so this analogy falls apart pretty quickly.

[flagged]

"They" of course being the Delaware Chancellory Court in this situation... man people are clueless about how things work.

rKarpinski 2y ago
"Delaware Chancellory Court" of course being a political appointee in the home state of the powerful politician whom they had an adversarial relationship with, in this situation... but you know how these things work
- mikeyouse 2y ago
  It’s always telling when people resort to unclear conspiracy theories instead of disputing the actual evidence that lead the court to their decision.
  - rKarpinski 2y ago
    It's telling when people resort to ad hominem. The government is in the process of confiscating tens of billions of dollars from him - if thats not a real consequence I don't know what is. Wether or not that ruling only happened because of his political position is a different matter, it's not like the judge mentioned it was because of his political posts on social media - like other officials have [1]. [1] https://www.latimes.com/california/story/2024-10-11/la-me-spacex-coastal-commission https://www.latimes.com/california/story/2024-10-11/la-me-sp...
    - mikeyouse 2y ago
      The government isn't confiscating anything.. they merely ruled that the independent board of directors who authorized the richest pay deal in the history of pay deals wasn't truly independent as is necessary to properly represent the shareholders they legally must represent. Every dollar stays with the company.
      - rKarpinski 2y ago
        Confiscate: > Take or seize (someone's property) with authority. > To use one's authority to lay claim to and separate a possession from its holder. > to take (something) away from someone especially as punishment or to enforce the law or rules.
        mikeyouse 2y ago
        Tesla had $50 whatever billion worth of stock before his deal, they had it after the deal when Delaware ruled in the shareholders’ favor and they granted it to him again following the subsequent shareholder vote. It’s a real ‘flexible’ use of the word confiscate when the confiscating party never had a dollar of the confiscated funds… I’m sure Elon is annoyed he has to follow basic corporate governance, but that’s kind of the point of governance.
        rKarpinski 2y ago
        So it wouldn't be confiscation or a punishment if the courts said you owed me a few years of your salary - because theoretically I could decide to give it back to you in the future? If you want to wire me a few years of your compensation I will gladly accept.
        mikeyouse 2y ago
        I don’t have a fiduciary obligation to you, so this analogy falls apart pretty quickly.