I think Musk actually broke a federal law about lay-off notices per the WARN Act when the company if over a certain size, which Twittter is.
Seems that way, but still some focus on if what he did was totally inline with the laws.I think Twitter was paying severance to get around that. Essentially they were still on the payroll but told not to come to work.
No he is not, he is selling Tesla on the way down to fund his nest egg. He will put twitter into some sort of re-organization to re-negotiate his debt to pennies on the dollar. Word was that some of the banks that had financed the deal were already unloading for 60 cents on the dollar.now he's selling Tesla stock to fund this misadventure
He didn;t say you couldn't work from home - he said they had to have his approval. You can absolutely bet the key employees have been "taken care of". That would have been A1A part of the due diligence right after the offer was accepted.Not a good attitude to have when you're trying to recruit specialized employees in the highly competitive tech industry.
Its in line. The law is specifically that they need 60 days notice, or you have to pay 60 days. Twitter paid 90 is what I read. I have seen this many, many times at large companies. The last thing you want around is disgruntled laid off employees to break things.Seems that way, but still some focus on if what he did was totally inline with the laws.
What is the WARN Act? Here’s what to know about the Twitter lawsuit.Some staffers who learned of their layoffs during Musk’s swift and massive cuts are suing under California’s WARN Act.www.protocol.com
The trend is your friend - until its not.Really? As a "hold 'em long term" person the past year has registered as about a 0.5 on a scale of 1-10 of things I even think about on a weekly basis. It's the short-term people and the people that may need liquidity now/soon who should be worried. On the same token, yesterday's gains register as a big nothing burger because who cares? It's just one day, one little blip up on a curve that in 6 months you won't even know that blip was there and it's meaningless.
If you look at exponential regression models of the S&P 500 for the past 70 years we are still 25% above where we "should've been". If you look at the gains of the S&P 500 over the past 10 years (with my admittedly less accurate linear regression line) we're right where we should've had been had the weirdness of 2020 not happened. Based on exponential regression it can be argued there still hasn't been enough of a correction. These chickens were always going to and had to come home to roost.
For the long term people, they should be happy this happened now because it will result in a much healthier market moving forward with plenty of years of gains ahead.
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Yes, but apparently Musk jumped the gun based on this tidbit. He should really slow down some and talk to his legal staff (unless he fired them too, lol) before making bold moves like this. Let the courts has it out for the outcome.Its in line. The law is specifically that they need 60 days notice, or you have to pay 60 days. Twitter paid 90 is what I read. I have seen this many, many times at large companies. The last thing you want around is disgruntled laid off employees to break things.
The entire headlines are nothing more than gaslight / headline grabbing. If you pay people not to come to work for 60 days your covered. They should say thank you as if they were worth their salt to begin with they would have had another job within a week and could double up on paychecks for a while.
This is from the above article - bolding mine:Yes, but apparently Musk jumped the gun based on this tidbit. He should really slow down some and talk to his legal staff (unless he fired them too, lol) before making bold moves like this. Let the courts has it out for the outcome.
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He tried to get out of it in court, but Twitter's lawyers sent subpoena's to a bunch of Elon's rich friends in Silicone valley - VC's, etc - so Elon said he would close on the deal.90 days pay and out the door so nobody can cause any trouble,
I‘m beginning to think Elon regrets buying Twitter.
Still just short-term/medium-term noise. Short of WW3 and/or the collapse of society that trend line will continue. If it does then great! If it doesn't then we will all have bigger problems than our ROI. Are we at the end of the economic cycle where it all comes crashing down? I don't know but I'll go on assuming there's some reason to continue on until given evidence to the contrary.The trend is your friend - until its not.
One of the things I can not reconcile, and haven't heard anyone talk about - is inflows and outflows due to the fed allowing their balance sheet to shrink with items maturing. Individual stocks can go up and down, but the overall market needs inflows to go up - retirement accounts, stock buy backs, etc are all inflows. However with the fed letting $90B run off their bloated balance sheet each month, and with gobs of government bonds being issued, that's a lot of capital being swallowed up each month that can't get into the market.
He tried to get out of it in court, but Twitter's lawyers sent subpoena's to a bunch of Elon's rich friends in Silicone valley - VC's, etc - so Elon said he would close on the deal.
He paid $44B. $27.5B of his own cash, and the rest was financed. Additionally he already personally owned 9.6% of Twitter so he got 9.6% of that money back from the stock payouts. He's worth over $200B, so while likely not happy, I wouldn't feel to bad for him.
Declaring bankruptcy will help, lol.He did overpay significantly to buy Twitter but it won’t hurt him financially,
Bankrupt cryptocurrency exchange FTX is probing a potential hack and asked customers to stay off the FTX website, the company said. More than $400 million worth of crypto funds appears to be missing, according to crypto analytics firm Elliptic Enterprises Ltd.
The potential hack occurred Friday after FTX filed for bankruptcy. Ryne Miller, FTX US’s general counsel, said in a Saturday tweet that FTX and FTX US had started moving all digital assets to cold storage—crypto wallets that aren’t connected to the internet—after the bankruptcy filing.
FTX is “investigating abnormalities with wallet movements related to the consolidation of FTX balances across exchanges,” Mr. Miller said on Twitter. He called the movements unauthorized transactions and said the facts are still unclear. FTX will “share more info as soon as we have it,” he said.
Hoe much of this money was actually American taxpayers' money- funneled through the Stimulus Checks.... I suspect a lot of this crypto stuff and associated businesses would not have had the money flows without Stimulus Checks.Pablo,
FTX and similar companies will soon be featured on TV show American Greed.
How many more of these types of crypto trading / coin storage platforms will soon implode ?
I understand people wanting to make quick gains but they have to be cautious and simply buy some quality ETFs on a brokerage account like Vanguard, Fidelity, TD Ameritrade, Charles Schwab, E*Trade, etc….
Younger folks like risk ?
Trade leveraged and inverse ETFs based on good news / bad news.
Trying to fly under the ‘IRS radar’ and un-bank from proven, traditional, safe ways of making money backfired on lots of people.
I meant there’s going to be lots of hurdles to jump to get Twitter to be the company he imagined.
He did overpay significantly to buy Twitter but it won’t hurt him financially,
I sense Musk had a sense of urgency in the Twitter purchase- and overlooked many deep issues to include working with IT professionals and the power of letters from groups telling advertisers to stop advertising on the platform. Will be a great MBA case study in the following years for many graduate students.Perhaps but he does the same thing a few more times it might.
It’s apparent that he is not a budget conscious person.
In 2009 Fiat Chrysler was bought out for 50 BillionI meant there’s going to be lots of hurdles to jump to get Twitter to be the company he imagined.
He did overpay significantly to buy Twitter but it won’t hurt him financially,