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Trump VP Pick Honors Elon Musk's Entrepreneurial Spirit

Trump VP Pick Praises Elon Musk: A Throwback to an Older Generation of American Entrepreneur In an era where innovation is often eclipsed by political theatrics, the recent remarks from Ohio Senator J.D. Vance, Donald Trump’s running mate for Vice President, shimmer like a beacon of nostalgia for the golden age of American entrepreneurship. Musk, the maverick behind Tesla and SpaceX, has not only redefined industries but also ignited a movement that resonates with the audacity and spirit reminiscent of the titans of industry from yesteryears. A Nostalgic Acknowledgment Vance’s comments were not mere platitudes; they were a clarion call to recognize the entrepreneurial grit that Musk embodies. He referred to Musk as a “throwback to an older generation of American entrepreneur,” evoking images of innovators like Henry Ford and Thomas Edison, whose visions transformed our world. This perspective is particularly poignant as we navigate a world where the landscape is often dominated b

Tesla Fights Back: Musk Pay Ruling Challenged

Ah, the saga of Elon Musk’s compensation plan—a tale filled with more twists and turns than a Cybertruck on a test track. You see, it’s not just about the money, though that’s a hefty sum even for a spacefaring CEO. It’s about the principle, the optics, and the constant tug-of-war between a visionary leader and the sometimes-stodgy world of corporate governance.

Tesla Pushes Back

So, Tesla, ever-ready for a good legal battle, is now formally requesting Delaware Chancellor Kathaleen McCormick to reconsider her earlier ruling against Musk’s 2018 CEO Performance Award. Think of it as a “motion to reconsider” for those who haven’t spent their days steeped in legal jargon. Tesla’s argument hinges on the recent shareholder vote at the 2024 Annual Stockholders Meeting—an event that saw both the re-approval of Musk’s compensation plan and Tesla’s redomestication to Texas.

Shareholder Approval as a Trump Card?

Tesla’s legal eagles argue that the shareholder vote carries significant weight, effectively representing the collective “will and sound business judgment” of Tesla’s investors. They posit that this vote undermines the foundation of the lawsuit brought by stockholder Richard Tornetta, who, let’s just say, isn’t exactly swimming in Tesla stock.

The Ghost of January’s Ruling

Chancellor McCormick’s January decision to rescind Musk’s award was based on the allegation that Musk, with his considerable influence, had effectively steered the process to ensure his own payday. The judge also expressed concern that Tesla hadn’t been entirely forthcoming with shareholders about the feasibility of the performance targets.

Fun Fact: Musk’s 2018 pay plan was directly tied to Tesla achieving a series of ambitious milestones, including a tenfold increase in market cap. Spoiler alert: Tesla smashed those targets.

What’s Next?

This latest development sets the stage for a fascinating legal showdown. Will Chancellor McCormick be swayed by the shareholder vote, or will she hold firm in her initial assessment? One thing’s for sure: this is far from the final chapter in the ongoing saga of Elon Musk’s extraordinary compensation.

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