The chapter examines Tesla's corporate governance issues, including a controversial pay package for Elon Musk that had to be voted on again, the proposal to move Tesla's incorporation to Texas, and the implications of CEO leveraging shareholder interests for personal gain. The discussion delves into the responsibilities of directors, the evolving role of CEOs, and the potential risks of having superstar CEOs with excessive influence in corporate decision-making.
Scott takes a look at Tesla’s new shareholder vote and speaks with Charles Elson, Founding Director of the Weinberg Center for Corporate Governance at the University of Delaware, about the original ruling on Elon’s pay package and whether the superstar CEO will get his way this time around. Then Scott and Ed break down the latest big bank earnings and discuss “Basel III endgame,” a proposal for stricter capital requirements at banks following last year’s banking crisis.
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