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Paytheline's avatar

In fact, the usual governance problem is that the Board and officers entrench themselves to keep collecting goodies from the company, to the detriment of the stockholders. Here, Musk offered a number that was so ludicrously high that saying no could not possibly be defended.

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Old Man Yells at Cloud's avatar

Because the shareholder voted for it in mid Sept. If the people who own the company want to sell it, it is their right to do so. The board was simply acting on the instructions of the shareholders.

Now you can call the shareholders greedy, but if someone came up to you and offered you $60,000 in cash for your car, would you take the offer?

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