Joss Delage

🇫🇷 X 🇺🇸

[Joss Delage @JDelage]

In France, the annual take home pay of a nurse is somewhere below €35k.

[Prepared Remarks @P_Remarks]

Even the travel nurses are becoming millionaires. The wealth effect tailwind is underappreciated

[Jon Stokes @jon_stokes]

I am going to watch "The Odyssey" and I reserve the right to like it if it's actually good.

[Joss Delage @JDelage]

100%

[Austin Campbell @austincampbell]

Why is this such a big fight?

Let's walk through what actually happened here:

1 - @elonmusk was given a pay package at Tesla that was small if the results were mediocre, but immense if the results were great.

2 - The results were great, he got paid a huge amount.

3 - Chancellor Kathaleen McCormick struck this down after a shareholder with a handful of TSLA shares sued, alleging there were not adequate controls in place and Elon controlled the board.

4 - Shareholders then voted on the package that was rescinded by the judge, restoring it to Elon.

I'm going to pause right here, because up until this point, I think things are actually mostly working as intended (minus some arguments about nuisance suits from tiny holders). I would raise no material objections to what DE has done so far based on this. If the judge is correct, then Elon did manipulate control of the board, it was not an arms length transaction, and the correct remedy was to rescind that package and force an actual resolution that accounts for shareholder interests. The shareholders did that! Problem solved.

Now is the step where things get weird:

5 - After the shareholders vote to reinstate it, the judge still strikes Elon's package down anyways, against the will of the owners who the board had supposedly not represented...? So, wait, the board can't give Elon this pay package, but also the shareholders can't, so who is in charge here? None of the owners of the company are in charge?

6 - The plaintiffs attorneys then requested $5.6B in compensation, and were still somehow awarded hundreds of millions for "protecting shareholder interests", which, again, the shareholders just voted against the exact outcome they are now getting.

7 - McCormick herself was caught liking anti-Elon posts, which, I mean, you're free to dislike Elon (many do!), but doing that while being a judge presiding over his cases is either incredibly careless, incredibly stupid, or incredibly biased. Not an exclusive or.

8 - The DE supreme court itself strikes down all of this nonsense, restores the award to Elon, and massively slashes the plaintiffs fees, essentially saying "No, you idiots, that's not how any of this works".

All of this was such incredibly bad conduct, and had such a halo of "fuck this guy, we just don't like him so we're going to let people manipulate the law to hurt him and the board and the shareholders, and to protect TSLA we will horribly damage TSLA and give money to our attorney friends" that many, many companies are now leaving DE and moving to TX and NV.

To be honest, as an advisor, I tend to tell companies I work with that it doesn't seem like a bad decision to do exactly that.

Now we are going to primary people who supported fixing this on the legislative side? That's fine, I guess. It's representative government, you can do what you want. But what you need to understand is that if the rule of law in your state means "we fuck you over and invalidate past agreements your shareholders were fine with if we don't like you", then any decent board member or corporate leader is not leaving their corporation in your state.

Just like NJ was once the leader and reaped huge revenue for this and then DE took it from them with a better system, I think this all lays the groundwork for DE to implode itself.

The new leader will be TX or maybe NV.

If DE wants to vote for more of this sort of conduct out of the courts, they can. But even if you dislike Elon, you should think long and hard about what this precedent says and how it was done, because if your model of corporate governance is "actually this random judge, who hates you, runs the company, not the board or the shareholders", then anyone who doesn't want a judge with no tie to their company, an axe to grind, and no accountability running things as a shadow enforcer should leave.

I would.

[Jennifer Sey @JenniferSey]

"The vast majority of pregnancies are in women."

He's a doctor, folks.

This is where we are. Still.

[Forrest Brazeal @forrestbrazeal]

yer in mandatory security training, harry

[J.K. Rowling @jk_rowling]

And what do you propose women’s rights should be based on instead of our sex, dear guru? Special lady feels? Spinny skirts and lipstick? Candyfloss coloured souls?

[Maxou Rona 🎸🇫🇷 💙💛 #TAEM #PFM @Madximilian]

They murdered an innocent man in front of his child.
We need names.

[RedditCFB @RedditCFB]

Guaranteed rematches all around.

[Jesus Freakin Congress @TheJFreakinC]

I think it's a great day to indict David Brouillette, the ICE agent who shot and killed Joan Sebastian Guerrero in broad daylight.

[goma @soigomaa]

Her name is Gina Martin. She was at a music festival in London when a man pushed his phone between her legs and took a photo under her skirt. She reported it to the police immediately. They told her it wasn't a criminal offence. There was nothing they could do.
She went home and decided that was unacceptable. With no legal background, no political connections and no funding she launched a campaign to make upskirting a criminal offence in England and Wales. She petitioned. She lobbied MPs. She spoke publicly about what had happened to her. The government initially blocked the bill.
She kept going. The Voyeurism Act passed in January 2019. Upskirting now carries up to two years in prison. Scotland followed. Other countries are following. A woman at a festival with no lawyer, no funding and no political connections rewrote the law for an entire nation in eighteen months.

[Canada Hates Trump @AntiTrumpCanada]

A 3-yr-old girl in Maine watched ICE fatally shoot her father (Joan Sebastian Guerrero) in the head while she sat in her car seat wearing Bluey pajamas.

Then she watched agents pull his lifeless body from the car to cuff him.

Is America great yet, you stupid MAGA motherfuckers?

[Cuckturd @CattardSlim]

Yep. These are tire tracks in the reflecting pool. Sediment has built up on the indents.

You can see where the front tires turned in unison.

10 years prison for Trump!

[Connor Boyack 📚 @cboyack]

Evil ideas have horrible consequences.

[Joss Delage @JDelage]

@paulg A $1 legal tender sounds like a fake gold coin, which makes sense....

[Joss Delage @JDelage]

@SecScottBessent @usmint Is that an actual gold bullion coin or a $1 "gold colored" coin? A fake "gold coin" makes so much sense I'm surprised it's being allowed.

[Peter Spina ⚒ GoldSeek | SilverSeek @goldseek]

@SecScottBessent @usmint Fixed it

[Maitre Eolas🇫🇷 @Maitre_Eolas]

Avocat aux Conseils de Dreyfus et de Zola, il a obtenu la cassation tant pour le capitaine que pour l'écrivain, condamné à un an de prison pour son J'Accuse! et contraint à l'exil en Angleterre (double peine).
N'oublions pas aussi Fernand Labori, l'avocat à la cour, qui défendit les deux devant les juridictions du fond (bien nommées ici)

[🇫🇰 Supermarine ⚓︎ @tripasnagrelha]

"ah agora só sobrou a Argentina pra torcer, né?"

Eu: