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Elon Musk agrees to pay $20 million and quit as Tesla chairman in deal with SEC

PoS

PoS

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https://money.cnn.com/2018/09/29/technology/business/elon-musk-tesla-sec-settlement/

Elon Musk agreed Saturday to step down as chairman of Tesla and pay a $20 million fine in a deal to settle charges brought this week by the Securities and Exchange Commission.

Under the settlement, which requires court approval, Musk will be allowed to stay as CEO but must leave his role as chairman of the board within 45 days. He cannot seek reelection for three years, according to court filings.

He accepted the deal with the SEC "without admitting or denying the allegations of the complaint," according to a court document.

Separately, Tesla agreed Saturday to pay $20 million to settle claims it failed to adequately police Musk's tweet.

"The $40 million in penalties will be distributed to harmed investors under a court-approved process," the SEC said in a press release.
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This is a good thing. I lost a lot of respect for Elon when he insulted one of the Thai cave rescuers and I think he's become unhinged. Perhaps Tesla can finally post a profit once it brings in a competent MD.
 
PoS said:
https://money.cnn.com/2018/09/29/technology/business/elon-musk-tesla-sec-settlement/This is a good thing. I lost a lot of respect for Elon when he insulted one of the Thai cave rescuers and I think he's become unhinged. Perhaps Tesla can finally post a profit once it brings in a competent MD.
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I'm a long time fan of Elon Musk, but the Thai cave rescue diatribe seemed over the top. I worry that USA Auto big money would like for Tesla to go the way of Tucker and the same machinations that precipitated that failure may be in play against Tesla. Big Energy is allied against him because of his Renewable energy/Solar initiatives. Those Big Money interests can afford to rent a lot of politicians and create investigations/bureaucratic stumbling blocks, etc. Solar power and those big batteries can kill the current Utility monopolies and deservedly so. Thee will be huge intrigue behind the scenes on everything Musk./
 
he seems overworked to me. i hope that he gives himself a break for a while and comes back swinging.
 
DaveFagan said:
I'm a long time fan of Elon Musk, but the Thai cave rescue diatribe seemed over the top. I worry that USA Auto big money would like for Tesla to go the way of Tucker and the same machinations that precipitated that failure may be in play against Tesla. Big Energy is allied against him because of his Renewable energy/Solar initiatives. Those Big Money interests can afford to rent a lot of politicians and create investigations/bureaucratic stumbling blocks, etc. Solar power and those big batteries can kill the current Utility monopolies and deservedly so. Thee will be huge intrigue behind the scenes on everything Musk./
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I think you meant to post that here...

https://www.debatepolitics.com/conspiracy-theories/
 
DaveFagan said:
I'm a long time fan of Elon Musk, but the Thai cave rescue diatribe seemed over the top. I worry that USA Auto big money would like for Tesla to go the way of Tucker and the same machinations that precipitated that failure may be in play against Tesla. Big Energy is allied against him because of his Renewable energy/Solar initiatives. Those Big Money interests can afford to rent a lot of politicians and create investigations/bureaucratic stumbling blocks, etc. Solar power and those big batteries can kill the current Utility monopolies and deservedly so. Thee will be huge intrigue behind the scenes on everything Musk./
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Big energy/Big money is killing solar so well that California is awash in excess solar production much of the time. So much so it has payed Arizona to take the excess.
 
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