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SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

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Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#211

Post by kazen44 »

user5994461 wrote: post #101
mtgx wrote: post #83

Earlier quoted context omitted.

Fire Musk and the board could also risk a situation similar to Apple's board firing Steve Jobs. Musk is taking too many chances with too many things, often unnecessarily, but without him Tesla could be trampled by the big carmakers in the coming years in the EV market. Who at Tesla will still want to add rocket alloy to their cars to make them the safest ever cars? Chances are whatever new CEO they hire will see that…

The big car makers will be flooding the EV market, irrelevant of Musk presence.

Also, the big car manufacturers have a huge head start in terms of actually producing a very large volume of cars across the globe.

If toyota decides they can make a yaris or aygo as a purely electric vehicle, tesla will be nearly unable to catch that large, low end market segment.

Also, you need low-end, mass volume cars to be able to push eletric infrastructure and replace the current gas infrastructure. (although i think using hydrogen and reusing the gas infrastructure might even be a better solution personally).

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#212

Post by ucaetano »

rleigh wrote: post #154
drawkbox wrote: post #55

Earlier quoted context omitted.

Obviously car companies are hard to run. Though internet companies aren't the best at cash flow management either, it is more about getting the market / customers then the profit. I think innovation is excusable for revenue/profits for some time. Starting an electric car ONLY car company is even harder than having it as part of an existing car company like Mercedes is doing well with. The shorts are mainly trying to…

I imagine they are hard to run. But they don't require "genius" to run, they require people skilled in process management, supply chain operations, assembly automation and the rest. The stuff all the other big car manufacturers have been doing for decades. All stuff that Musk doesn't have a background in. What makes Tesla unique in this respect, and Musk so essential to the operations? I'd argue nothing at all, other…

> I imagine they are hard to run. But they don't require "genius" to run, they require people skilled in process management, supply chain operations, assembly automation and the rest.

That's pretty much any company (with certain variations for different industries).

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#213

Post by dbbk »

londons_explore wrote: post #174
rifung wrote: post #119

"The suit seeks an order from a judge barring Musk from serving as an officer or director of a public company, a request often made in SEC lawsuits, as well as unspecified monetary penalties." Does this imply that they want to remove him from being CEO and from the board of directors?

Or to simply make it a private company and stay CEO...

There is nothing remotely simple about taking Tesla private.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#214

Post by cam3ham »

ucaetano wrote: post #194
londons_explore wrote: post #174

Earlier quoted context omitted.

Or to simply make it a private company and stay CEO...

> make it a private company and stay CEO Yeah, with what money?

the money was on the table. Elon turned it down.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#215

Post by DennisP »

sho_hn wrote: post #156
browsercoin wrote: post #69

I'm perplexed how Musk could act without thinking of the consequences? Now I fear that he will be banned from SpaceX as well, when you are convicted of fraud by SEC, it will impact your duties at other companies. It takes decades to build a reputation but it can be destroyed overnight with a single tweet.

I'm curious about the possible ramifications for SpaceX as well. That said, it is a private company.

Not only is it a private company, but "A Musk trust owns 54 percent of the outstanding stock of SpaceX, and has voting control of 78 percent of the outstanding shares....No other shareholder owns 10 percent or more." Short of a criminal conviction I think he'll be fine with SpaceX.

https://www.reuters.com/article/us-tesla-spacex-shareholders...

Given that Musk has made his point with electric cars and major luxury brands are starting to push hard in that direction, it might not be terrible if Musk were to step down from Tesla, get some sleep, and focus on getting us to Mars.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#216

Post by krapp »

pastor_elm wrote: post #202
djsumdog wrote: post #68

Earlier quoted context omitted.

I'd hope the company itself would be fine. I really hate this idea of the grand visionary. A good friend of mine who is a mechanical engineer despises Musk. I listened to a bit of his Joe Regan interview and when Regan asked him how he has the time to do all of the things he does, there are smoke jokes about him being an alien, but not once did he say, "Well I have an amazing team of engineers" and credit all the tho…

>but not once did he say, "Well I have an amazing team of engineers" and credit all the thousands of people in his organizations that actually do the work. Engineers are a dime a dozen. They are responsible for the success of these companies in the same way cells are responsible for the formation of a human being. Why couldn't all those engineers build a cost effective reusable rocket system before Musk came along? O…

>They are responsible for the success of these companies in the same way cells are responsible for the formation of a human being.

So... entirely responsible?

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#217

Post by rpedela »

slg wrote: post #190
rpedela wrote: post #44

Earlier quoted context omitted.

Yes. SEC litigation releases, press releases, report major updates to cases including the resolution. Here is a Google search for "prohibited acting officer", the key legal phrase/keywords, on the relevant section of the SEC website. https://www.google.com/search?q=prohibited+acting+officer+si...

I was asking what the punishment is for similar crimes and that isn't the same as asking for what crimes have caused a similar punishment. I looked through the first few results on that page and they all seemed, in my opinion, to be more severe crimes than what Musk is accused of doing.

Add "misleading" to the search and the first few results seem similar to what Elon did. Making public, false, and misleading statements to investors is something the SEC gets pretty upset about.

https://www.google.com/search?q=misleading+prohibited+acting...

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#218

Post by Rooster61 »

ble wrote: post #204
Rooster61 wrote: post #192

I very much hate to see this. Not for Musk's sake, as he has been pretty much asking for something like this to happen. I hate it because of the damage it will do to Tesla and SpaceX when he's likely banned from leading a company. Tesla's not exactly lighting the world on fire in terms of potential long term success, but SpaceX really has been doing well in recent years. The fact that they are already refurbishing so…

SpaceX is not a public company so I don't see how a ban would affect Musk w/ r.t. SpaceX. also, otoh: think about the good things that could happen to $TSLA when Elon is removed from being a CEO.

Ahh, my mistake. I was unaware that the SEC does not have pull over privately held companies, or at least their employees. Still, the wave of litigation headed Musk's way can't help matters. He's going to be very busy.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#219

Post by londons_explore »

quirkot wrote: post #60
twblalock wrote: post #36

Earlier quoted context omitted.

> I wonder if the Tesla board is thinking of doing an Uber and replace Musk with a more calmer executive! Wouldn't be surprised if he gets fired after this. I would be. They have stood by him so far, this isn't going to push them over the edge. Besides, who would they replace him with? If the SEC fines him, he'll pay the fine and get on with his life.

Unless they ban him from being an executive at a publicly traded company

Couldn't he assign the janitor to be the official 'CEO', but then give himself title of 'Visionary' and still make all the decisions?

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#220

Post by pastor_elm »

krapp wrote: post #216
pastor_elm wrote: post #202

Earlier quoted context omitted.

>but not once did he say, "Well I have an amazing team of engineers" and credit all the thousands of people in his organizations that actually do the work. Engineers are a dime a dozen. They are responsible for the success of these companies in the same way cells are responsible for the formation of a human being. Why couldn't all those engineers build a cost effective reusable rocket system before Musk came along? O…

>They are responsible for the success of these companies in the same way cells are responsible for the formation of a human being. So... entirely responsible?

Yo missed my point. Nobody walks around thanking their skin cells for existing.
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