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Elon Musk gives the Twitter barons even
more of the willies

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Posted By: Magnante, 4/11/2022 9:27:09 AM

Elon Musk is quite a holy terror to Twitter's self-satisfied barons and satraps. (snip) Guys like Parag, who's "the Big Guy" now at Twitter as CEO now that @Jack has exited the picture, had hoped to effectively smother Musk and all his free speech ideas by locking him into a room with them where he could talk all he liked and they could ignore him. Board members, after all, have to be careful about what they say (and tweet) to the public (snip) Next thing we know, something happened (snip) Elon has decided not to join our board

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Reply 1 - Posted by: justavoter 4/11/2022 9:38:10 AM (No. 1125299)
Elon is going to challenge Twitter in a way to drive the stock price down again and then he will come in for the toatal takeover. HeHeHe!
24 people like this.

Reply 2 - Posted by: padiva 4/11/2022 11:09:23 AM (No. 1125380)
Hmmmm. Musk decided not to be part of the board of directors. I guess abiding by the board of directors agreement would be constricting. I may not agree with everything Musk says or does but I love his rugged individualism.
14 people like this.

Reply 3 - Posted by: pensom2 4/12/2022 5:12:13 PM (No. 1126750)
It's also the case that members of any board of directors, particularly so for a publicly-traded company, are fiduciaries, and are thereby bound to do only those things that are calculated to protect the shareholders and their investment in the company. Part of that duty is not to divulge sensitive information which he may obtain as a board member. The board could crack down on him if he, as a board member, were to publicly disclose certain anticipated actions which may have been privately discussed in board meetings. For example, if the board were to discuss actions which, if taken, would depress the stock price, he could not divulge those. He could also be limited by insider-trading laws if he purchased or sold Twitter stock without advance notice and disclosure the the SEC. As the owner of the largest block of stock in Twitter, he likely would have to do some of these things anyway, but his duty would be mostly to the SEC, not to the shareholders or to the officers or directors of the company. At a stockholders' meeting, he may be able to get enough stockholders behind him to get a majority and install his own slate of company directors, knowing that they would heed his call to replace management or to rescind some of Twitter's banishment of some Twitter posters, such as President Trump.
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