1. Elon’s Enablers: Tesla’s Submissive Board May Be As Big A Risk As An Erratic CEO

    Elon’s Enablers: Tesla’s Submissive Board May Be As Big A Risk As An Erratic CEO

    Long-time Musk allies dominate the electric-car maker's board and there's no sign they're going to intervene despite mounting problems and distractions for the company created by the CEO's behavior...

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    1. After his half-baked plan to take the company private collapsed last month, six of Tesla's nine directors said
    2. Sure he's a creative genius. His role model Nikola Tesla was too and guess what? Nikola Tesla was also unable to handle scale.
    3. The board needs to start ensuring he is running the company for the benefit of all shareholders.
    4. Most of the board members are long-time friends and business partners and there's his brother.
    5. The fact that we have this vacancy on the board, it just shows that the board hasn't made a decision on what to do about that either.
    6. A shareholder could bring a derivative action that basically says the board is not exercising its duty of care, seek damages resulting from that and seek changes in corporate governance.
    7. That's a hard road. It's not an easy one to get.
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