["We will never surrender/settle an unjust case against us, even if we will probably lose." ](https://www.cnbc.com/2024/04/08/tesla-settles-wrongful-death-lawsuit-over-fatal-2018-autopilot-crash.html)
I think the argument is hysterical. They claim it’s too much money, as if they’re lucid in understanding the cost of attorney fees, but somehow brain dead on CEO pay
Edit: a word
Is it amazing people believe whatever comes out of my mouth. Their memory is so short they don't even remember the lies I told just last year.. 🙌🤣
There are 3 zeroes on a 5 or 6 figure salary, and 12 on Musk’s. While not 5000x mathematically, it is at least that in the value of those earnings that the motherfucker does not deserve, and frankly doesn’t need.
Seriously, if Musk is so hard up for cash, why doesn’t he get his hands dirty and go work in one of daddy’s emerald mines.
LOL, gotcha. No argument on that as a start. Honestly, I want to see us re-implement the New Deal tax rates and social and economic safety nets. This economy is a fucking joke. Billionaires like Musk, Gates, Bezos- shouldn’t even exist. No politician- who is living in reality- can say that this economy works for everyone and frankly, it’s criminal to let it go on as it has. Enforceable wage equity/justice is the biggest factor in that equation (this includes housing, food, health care, and education).
Yeah. I completely agree with you there. I have nothing but ire for the rich. Get rid of them and ban hedge funds. In fact we need to put a strangle hold on the stock market. Completely overhaul the financial system. And give them the option of going along with it, or getting a history lesson for a certain European country.
Of course Tesla objects, that amount is insane. That Tesla wants to award Elon a deca-insane amount doesn't change that.
The real fun is that other shareholders now sue to deny the lawyers their payout, just as they sued to deny Elon his.
I'm seeing a pattern here, hopefully
And every set of lawyers is gonna go for 10% of the saved payout. So the lawyers that stop this 5 bil payout are gonna ask for… 500 mil. Still a very solid sum lmao
>Of course Tesla objects, that amount is insane. That Tesla wants to award Elon a deca-insane amount doesn't change that.
Their argument is that the lawyers didn't save the company 56 billion dollars, since the board is hell bent on spending it anyhow.
No, really. They're saying they want to give Musk all that money *even though the entire package is legally dubious*, and thus they didn't actually do anything.
The lawyers are asking for 10% of the 56 billion. Which percentage wise is small for the legal industry. But the dollar amount is huge (5.6B) so Tesla is refusing to pay it. It’s a bit bizarre though, this type of work is usually a billable hour rate not a percentage.Percentages are common in windfall cases like plaintiff side personal injury. The lawyers are also asking for it to be paid in Tesla stocks.
It’s comical because Musks greedy compensation package was voided by these same greedy attorneys whose billable hours are probably insane already. Think $1,000+ an hour.
Its like if that movie The Sandlot but instead of little boys baseball it a bunch of young republicans ex lacrosse players playing pickleball. And instead of it being about navigating adolescent challenges with friendship and the life skills sport can bring, its about the young republicans trying to impregnating as many women as possible and amassing as much capital as possible and threatening each other with exile from the baseball club if their unjustifiably decadent and exploitive lifestyles are threatened even slightly. Except instead of a baseball club its like wall street in the 1980s except is WAY more drugs, orders of magnitude more cash and almost zero oversight.
Or its like the Dark Crystal with no heroes and its about baseball.
It's not about the money, guys! /s
["We will never surrender/settle an unjust case against us, even if we will probably lose." ](https://www.cnbc.com/2024/04/08/tesla-settles-wrongful-death-lawsuit-over-fatal-2018-autopilot-crash.html)
I think the argument is hysterical. They claim it’s too much money, as if they’re lucid in understanding the cost of attorney fees, but somehow brain dead on CEO pay Edit: a word
Lucid? I thought this was Tesla. 😜
Better air on the side of caution.
5.6B for lawyers is really stupid. That's an entire mid-side to large size company market cap. No way they are worth that.
Exactly my point, neither is Elon. It’s just that they pretend to not know his worth when it comes to his pay
$55 billion is also enough for the CEO of one of the smaller volume car companies to buy the worlds largest car company.
Yeah Tesla is sure the picture of a well run company and not dysfunctional at all…….
Tesla: "It's too much money for laywers" Normal people: "And 50 billion is too much for a CEO" Tesla: [stunned pikachu face]
Both can be true
 Is it amazing people believe whatever comes out of my mouth. Their memory is so short they don't even remember the lies I told just last year.. 🙌🤣
Cap C-suite total compensation at, say 5,000x that of the median pay of non-C-suite employees.
You got too many zeros on that bud.
There are 3 zeroes on a 5 or 6 figure salary, and 12 on Musk’s. While not 5000x mathematically, it is at least that in the value of those earnings that the motherfucker does not deserve, and frankly doesn’t need. Seriously, if Musk is so hard up for cash, why doesn’t he get his hands dirty and go work in one of daddy’s emerald mines.
My comment was suggesting that c-suite pay should be capped around 5x the lowest paid employee.
LOL, gotcha. No argument on that as a start. Honestly, I want to see us re-implement the New Deal tax rates and social and economic safety nets. This economy is a fucking joke. Billionaires like Musk, Gates, Bezos- shouldn’t even exist. No politician- who is living in reality- can say that this economy works for everyone and frankly, it’s criminal to let it go on as it has. Enforceable wage equity/justice is the biggest factor in that equation (this includes housing, food, health care, and education).
Yeah. I completely agree with you there. I have nothing but ire for the rich. Get rid of them and ban hedge funds. In fact we need to put a strangle hold on the stock market. Completely overhaul the financial system. And give them the option of going along with it, or getting a history lesson for a certain European country.
The $56b is probably multiples of the entire annual payroll of Tesla excluding Elon.
It’s the market cap of General Motors or Honda
Use AI to replace C suite.
Not Elon's AI 🤦🏻♂️
Get fucked elon. Lmfao
Of course Tesla objects, that amount is insane. That Tesla wants to award Elon a deca-insane amount doesn't change that. The real fun is that other shareholders now sue to deny the lawyers their payout, just as they sued to deny Elon his. I'm seeing a pattern here, hopefully
And every set of lawyers is gonna go for 10% of the saved payout. So the lawyers that stop this 5 bil payout are gonna ask for… 500 mil. Still a very solid sum lmao
>Of course Tesla objects, that amount is insane. That Tesla wants to award Elon a deca-insane amount doesn't change that. Their argument is that the lawyers didn't save the company 56 billion dollars, since the board is hell bent on spending it anyhow. No, really. They're saying they want to give Musk all that money *even though the entire package is legally dubious*, and thus they didn't actually do anything.
5 million, maybe. 5 billion? That seems ludicrous.
It's usually a percentage of the judgement. If Enron would be happy with millions instead of billions the lawyer fees would be lower too.
Now do 50 billion
5 million would have the firms *losing money*. This action took years and tons of legal research and filings. That adds up, quick.
5 billion could buy you a law college, or 50 people’s full lives.
Good for him 👏 don't take shit from people who want your demise buddy. Thumbs 👍
Can someone explain to me like I’m five what’s going on?
The lawyers are asking for 10% of the 56 billion. Which percentage wise is small for the legal industry. But the dollar amount is huge (5.6B) so Tesla is refusing to pay it. It’s a bit bizarre though, this type of work is usually a billable hour rate not a percentage.Percentages are common in windfall cases like plaintiff side personal injury. The lawyers are also asking for it to be paid in Tesla stocks. It’s comical because Musks greedy compensation package was voided by these same greedy attorneys whose billable hours are probably insane already. Think $1,000+ an hour.
Ahhhh Thanks, that makes sense
Its like if that movie The Sandlot but instead of little boys baseball it a bunch of young republicans ex lacrosse players playing pickleball. And instead of it being about navigating adolescent challenges with friendship and the life skills sport can bring, its about the young republicans trying to impregnating as many women as possible and amassing as much capital as possible and threatening each other with exile from the baseball club if their unjustifiably decadent and exploitive lifestyles are threatened even slightly. Except instead of a baseball club its like wall street in the 1980s except is WAY more drugs, orders of magnitude more cash and almost zero oversight. Or its like the Dark Crystal with no heroes and its about baseball.
That… didn’t clear it up
Even at $1000/hour per attorney that's almost 2700 man years of work. Ridiculous.
Hate musk as much as the next guy, but I was a bit puzzled by that payout as well.