Heh ya. The only person notorious enough to be persecuted is Madoff in GFC. And that's because he rip offed the old money club. SEC is basically a guard dog for them. So it wouldn't be far fetched to say that EM pissed off somebody or that he just doesn't have enough connection in the east coast of wallstreet. Maybe it's turning out to the age old war of tech vs finance. Nerds vs Jocks.
The SEC has not provided evidence to motivation. Intent and motivation determine if willing and premeditated misleading statements had occurred. The statement was a consideration of going private. The response of the market would have happened whether this was done in a Reuters press release or not. The SEC is on trial here by not gaining clarification on musk’s statement intention based on evidence provided. He did not make any stock sales nor did any board memeber or Insider. His statement actually prevented any insider trading or leaks to interested parties such as short hedge funds. The SEC is actually parroting short hedges positions, not regulating whether a CEO willingly made false statements to obtain financial gain. If the SEC found any evidence of intended financial gain, then they would have stated so. However, the only point out that a deal memo was not signed or prepared to be signed, which was not what Elon tweeted in announcing a consideration through twitter. There is no motive to mislead, therefore there is no case.
Elon has never thought about stock holders in that way. Settling to get the news out of the way for stock price stabilization is not his style. He will fight tooth and nail regardless of the damage to the stock price. Always has been that way. I'd like him to learn the other way because helping his shareholders win actually helps him win. But winning against perceived wrong irregardless of the damage it will do to his surrounding is built into his character. Paying out a fine is probably ok. But removal as director and CEO is probably not. Though, if EM rejected a settlement of just paying out a fine but stay on as director and CEO, I'd be furious.
I feel like if the *sugar* actually hits the fan, there will be all sorts of loopholes to have Elon in charge. Elon is not going anywhere. He is part of Tesla's mission and the board can trust no one else but Elon to carry out the mission of accelerating sustainable energy. His response to someone who asked if he would ever give up the CEO position at spaceX, and he said he must trust that person to not just seek for profit but has his/her sight on Mars as the mission. You lose Elon, you lose the company's mission with it.
I guarantee it was going to be something like a big fine, twitter restrictions, and giving up the chairman position. He didn't take the settlement because it would cause damage in the civil lawsuits thrown his way.
If Elon accepted a settlement in which it contains the removal of himself as the CEO then I would be furious.
Is there a recent official statement release from Tesla or the BoD? This article looks like it paraphrased the original statement Tesla BoD put out back in August following the original Tweet.
hmmm...this would be a fearful moment for many people. I've got about $50k cash (and a lot of TSLA) in my SEP IRA account. I think I'll try and time the major dip tomorrow and go all in. I'm guessing whatever the low tomorrow is, is about as low as we will see.
Are you new? He risks everything all the time. He just finished risking everything on Model 3. You’re upset at the wrong person.
Sorry, those were two seperate things. Up tick rule is 10% drop from previous close during any point of normal trading. Division of Trading and Markets: Responses to Frequently Asked Questions Concerning Rule 201 of Regulation SHO
Well said. Item 1. Trump is a crony capitalist. Item 2. One of his favorites is coal, the investors and owners, not the actual miners. Item 3. Trump is part of the tribe who hate green energy and he has proved his worth by rescinding U.S. participation in the Paris Climate accord. Item 4. He has not hesitated to attack many corporations, especially the media and the Washington Post in particular because it is owned by Jeff Bezos, so he has attacked Amazon. Item 5 and most important, the White House has issued a ukase for all agencies to look for ways to impede the march toward green energy. QED, the suit by SEC is their response to the ukaze. Like good burrocrats they are just following the Leader. There appears to be collusion, and of course I know there is no criminal statute against collusion, but it may be a Rico violation by the government itself. Is that an impeachable offense, a high crime or misdemeanor? The treason part best left to the Mueller investigation which will likely disappear soon. Just trying to put all this jabber into context.
That has got to be the best Elon quote of all time. Reminds me of MLK, "The moral arc of the universe is long, but it bends toward justice."
Why is everyone taking what the WSJ reported at face value? The WSJ could easily have shaded the story to make it sound worse than it was. No where does it say Elon originally agreed to the settlement. It could be as simple as Elon thinking about the settlement offer for a while and then deciding not to take it. The rest is a reporter’s or SEC’s embellishment. Remember guys, the vast majority of Tesla reporting is bullshit.