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Elon’s Out

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Re: Elon’s Out

#551

Post by grapeskin »

throwaway09223 wrote: post #275
hotpotamus wrote: post #150

Earlier quoted context omitted.

Anytime the idea of a wealth tax is brought up, I see commenters coming out of the woodwork to say that it would be impossible to actually collect it from the wealthy. Though I will note that it seems like we are able to collect yachts and planes from Russian oligarchs now, so perhaps our techniques have advanced in the last few months.

This is a different problem and has to do with privacy. The government can't compel you to disclose everything you're doing without cause, and without due process. Having a court ordered judgement entered against you is cause and is a result of due process. It's an entirely different scenario.

The IRS has no trouble prying and finding out that you have unreported income. The idea that they can’t find out you have an unreported Picasso painting that you bought for 40 million or a beachfront mansion is silly.

Re: Elon’s Out

#552

Post by outside1234 »

avalys wrote: post #393
throwaway09223 wrote: post #140

Earlier quoted context omitted.

> What if the court orders Musk to close the deal and he says no? I can't believe people are taking this very silly statement seriously. This is utter nonsense. There are remedies for people who disobey court orders. Having assets makes you more vulnerable to a court's authority because you have something to lose. If a court orders specific performance and he doesn't do it then he's liable and the court will take his…

From the Wall Street Journal this afternoon: "“What are they going to do if there is a judgment and he says, ‘Well, I’m still not going to buy it’?” said Zohar Goshen, professor of transactional law at Columbia Law School. “They don’t really have tools to force him to go through with it. You don’t put people in jail because they don’t buy something.”" https://www.wsj.com/articles/twitter-elon-musk-set-for-unpre...

Just take $54B of Tesla stock and give it to Twitter

That will certainly stop anyone from pulling this bullshit again!

Re: Elon’s Out

#553

Post by wutbrodo »

codesections wrote: post #472
XorNot wrote: post #445

Earlier quoted context omitted.

This is an appeal to authority that is not valid: there are plainly a lot of lawyers out there who's legal opinion leaves a lot of daylight against the actual law. Rudy Giuliani took a long time to get disbarred.

> This is an appeal to authority that is not valid I'm open to that criticism; I'm typically pretty skeptical of appeals to authority myself. But to be clear: the appeal to authority I'm making isn't "legal opinion of a lawyer" (I agree that's very weak) but rather "opinion on corporate law by a Wachtell attorney who practiced corporate law" (Wachtell is probably the best corporate law firm in the world, and clearly…

And in the example the parent comment gave: RUDY Guiliani was a US Attorney and the Associate Attorney General (third highest position in the DoJ).

Re: Elon’s Out

#554

Post by [deleted] »

avalys wrote: post #393
throwaway09223 wrote: post #140

Earlier quoted context omitted.

> What if the court orders Musk to close the deal and he says no? I can't believe people are taking this very silly statement seriously. This is utter nonsense. There are remedies for people who disobey court orders. Having assets makes you more vulnerable to a court's authority because you have something to lose. If a court orders specific performance and he doesn't do it then he's liable and the court will take his…

From the Wall Street Journal this afternoon: "“What are they going to do if there is a judgment and he says, ‘Well, I’m still not going to buy it’?” said Zohar Goshen, professor of transactional law at Columbia Law School. “They don’t really have tools to force him to go through with it. You don’t put people in jail because they don’t buy something.”" https://www.wsj.com/articles/twitter-elon-musk-set-for-unpre...

[deleted]

Re: Elon’s Out

#555

Post by csours »

ethagknight wrote: post #276

I find it amazing that not one of the top comments gives Elon ANY consideration that maybe, just maybe, he has a legitimate case against Twitter. We don’t know what he’s found, what he was told, what he was promised, what changed on Twitter’s side. Some very top level people bailed or were fired shortly after Elon’s acquisition proposal was announced. It sure appears that Elons is just balking, but what is far more l…

> what is far more likely is that he has uncovered some deep Twitter bullshit

Unfortunately, the time to do that was BEFORE he signed the contract. He didn't have to sign the contract without due diligence.

> Or maybe he has a lot more info than any of us internet loons at the moment?

Let me know how that turns out. Maybe the horse will sing. http://www-personal.umich.edu/~jlawler/aue/sig.html

Re: Elon’s Out

#556

Post by mlindner »

selfportrait wrote: post #520
mlindner wrote: post #438

Earlier quoted context omitted.

He doesn't find fault with people selling the stock. He finds fault with people shorting the stock. He seems to believe shorting in general is morally wrong as it's external influences who don't understand the goal (or actively want the goal to fail) trying to make money on the failure of something. Try and find any instance of him attacking anyone who was an investor and then sold out.

I’m a little confounded that you suggest Elon believes shorting to be “morally wrong”. Why conflate his ego and financial stake with “morality”? Plus, Elon has proven himself to be morally nefarious more than anything. With the law and social expectations and plenty more. The only thing I can find about Elon and his utterance of morality is him saying it was morally wrong to ban Donald Trump. What a joke.

> I’m a little confounded that you suggest Elon believes shorting to be “morally wrong”. Why conflate his ego and financial stake with “morality”?

Because in the over ten years I have of watching what he says and what he does I've found him to be a forthright person who says what he thinks. He's not the type to intentionally deceive others. He's often wrong, but he's upfront with what he thinks. Also he's shown many times to not be interested in financial merits. He wants to achieve great things and be known for doing great things. He only cares about money in the sense that it lets him achieve the goals he wants to achieve.

> Plus, Elon has proven himself to be morally nefarious more than anything. With the law and social expectations and plenty more.

I've not seen that myself. I've seen him let his emotions get out of control many a time that he often regrets, but I've not seen him act in an explicitly nefarious way.

> The only thing I can find about Elon and his utterance of morality is him saying it was morally wrong to ban Donald Trump. What a joke.

He didn't say that it was morally wrong to ban Donald Trump. That was an oft-repeated synthesized quote that was also taken out of context. He doesn't particularly like Donald Trump at all.

Re: Elon’s Out

#557

Post by stakkur »

The law on this is clear, and the remedies are also clear. Musk playing the contemptuous clown prince aside, the court isn’t going to be ‘intimidated’, and Musk can’t simply evade/ignore judgments/orders. What a weirdly amateurish article.

Re: Elon’s Out

#558

Post by BbzzbB »

baskethead wrote: post #537
smitty1110 wrote: post #455

Earlier quoted context omitted.

Well, Tesla is a Delaware company[1], so I assume they have some leverage. 1: https://sec.report/CIK/0001318605

Tesla didn't buy Twitter, Elon did.

Main chunk of his assets is Tesla stock, the Delaware incorporated company.

Re: Elon’s Out

#559

Post by [deleted] »

ethagknight wrote: post #276

I find it amazing that not one of the top comments gives Elon ANY consideration that maybe, just maybe, he has a legitimate case against Twitter. We don’t know what he’s found, what he was told, what he was promised, what changed on Twitter’s side. Some very top level people bailed or were fired shortly after Elon’s acquisition proposal was announced. It sure appears that Elons is just balking, but what is far more l…

[deleted]

Re: Elon’s Out

#560

Post by [deleted] »

alphabetting wrote: post #4

I found this part most interesting. Public awareness of the Delaware Court of Chancery is about to skyrocket during this court battle. The fact that Musk is working in such bad faith here — that he seems so unconcerned with law and the contract he signed — cuts both ways. On the one hand, it will certainly annoy a Delaware chancellor; Delaware likes to think of itself as a stable place for corporate deals, with predi…

[deleted]
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