"Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as has occurred here."
"Elon is required to have any written material communications pre-approved by Tesla or its shareholders."
"We have the right to demand to have better leaders and better leadership in our companies."
"Keep politics out of the boardroom, not just for the sake of the companies but for the sake of American democracy itself."
"The case was awarded in favor of the minority shareholders but it upheld the business judgment rule, which means that executives can do what they believe is in the best interest of the company, even if it doesn't make the number on a stock chart go up."
"What the ESG movement demands is that actually we take those questions out of the political process and settle them through the use of capital force in boardrooms across America."
"Meritocratic societies have higher levels of productivity. If you take family companies and compare them with public companies that appoint people primarily on merit, you will see that public companies are more productive."
"The CEO of Silicon Valley Bank was one of the directors at the San Francisco Federal Reserve and he was promptly fired after this disaster."
"If you distrust concentrated power in the government, you should also distrust concentrated power in corporations."
"HR being one of the departments has been utterly corrupted in such a way that HR will befriend abusers and will defend the abusers."
"He is a petty tyrant who refuses to listen to the legions of people more capable than him in every regard."
"Anonymous has targeted corporations, governments, banks."
"Democracy should be implemented in workplaces."
"I support corporate accountability... Is it the number one place to access the right to vote?"
"Facebook has always sort of wanted to do this... shift responsibility from the decision makers of Facebook to some other body." - Ben Shapiro
"I didn't know my own company and an agency who was hired to keep this from happening were in on this to actually make it worse, not better."
"The problem for them is it's a mismanagement from the top."
"The corporate form has to be changed to be a democratic one; currently, it favors shareholders."
"The market itself will take care of bad companies by creating information about what the good companies are."
"These are companies that don't focus on the shareholders but on the stakeholders."
"ESG is two things: it's an ideology and it's an industry."
"What are you doing to reduce carbon footprints and what are you doing to, for example, set quotas on hiring or on board members? How many of the seats are reserved for minorities or women and this sort of thing—that's all part of the ESG agenda."
"The CCP's updated counter-espionage law sends a loud, clear signal to the world: there is no such thing as a private company in China."
"Do we want to see our CEO that's in charge of stewarding this company selling any stock? No, we want to see him hold it."
"Stinks of incompetence at board level," says Emily.
"I believe individuals have free speech corporations are state-chartered entities I'm with nader on that they should be governed and limited as much as as much as the states want them to be."
"Every bit of goodwill they've built... it's clearly been rumbled on for a year."
"It's ridiculous... the CEO did not meet performance targets and he's still asking for the same high level of pay."
"Shareholders issued a resounding rebuke of Electronic Arts' deeply flawed executive pay practices."
"We don't like bailouts, right? We don't like big corporate bailouts. And when American people find out that big businesses are being bailed out again and CEOs are getting big golden parachutes, we don't like it."
"It was not appropriate for Facebook to impose the indeterminate and standardless penalty of indefinite suspension."
"There will always be arrogant Executives; that's where we need strong rules."
"This is the single greatest thing that could have happened to us in our fight against the Glazers."
"The majority of Open AI’s 700 or so employees signed an open letter to the board demanding that the board resign and that they rehire Altman."
"Unfortunately, Bobby Kotick will not really be held accountable."
"Executives are paid too much... Are you creating programs that incentivize your executives?"
"Transparency, protection against conflicts of interest, and accountability."
"This judge thinking they know better than corporate executives, shareholders, customers, and Wall Street about what's best for Tesla's stock."
"Insider management continuing to buy and hold shows confidence in the company's long-term potential."
"This is a tacit admission by these concerned employees that they're worried they'll no longer be able to interfere in elections."
"It's quite funny, you've got various executive managers and other people within the policy team of Clubs New South Wales that have a very, very strong relationship with both political parties."
"Elon could say, 'Shut up about the damage, this stock is to the moon, and it's completely my doing.'"
"The problem with Boeing is capitalism, but nobody seems to get it yet."
"The way this club is run is a disgrace, the way they acted in the Super League, I mean, I know for a fact that there's players in that football club that can't stand the board."
"He was all over the place accusing of running Alphabet by proxy."
"There was a whole scandal that ended up with the top CEOs having to resign from the board of directors."
"Tristar had a fiduciary duty, a proposition which as a matter of law is axiomatic."
"New board is far more likely to allow Mr. Alman to scale up OpenAI as quickly as possible."
"President Biden wants to require a company's executives to hold on to shares of corporate stocks for a certain number of years."
"Unlike credit scores with a clear method of tabulation cause and effect, ESG scores depend on a wide variety of factors."
"Disney needs change, they need to get some other people on the board who actually want to change things for the better."
"Elon Musk has now publicly agreed with and amplified criticisms from the right of two individual twitter employees today one accusing its top policy exec of censorship and the other accusing a company lawyer of facilitating fraud."
"Ripple CEO says that the SEC contradicted itself by suing over XRP then allowing Coinbase to IPO."
"Woke corporations that put ideology ahead of returns should be on notice."
"As shareholders, we have every right to critique the way our teams are run."
"It's time for Prime Minister Scott Morrison to man up and apologize to Christine Holgate and reinstate her as CEO of Australia Post."
"Christine Holgate has been exonerated by the government's own investigation... there is no indication of dishonesty, fraud, corruption, or intentional misuse of Australia Post funds."
"Corporate compensation should be proportionate to success."
"This is the merging of state and business enterprises."
"Strategy is about coordinated actions that the whole company takes to meet challenges and seize opportunities. It empowers everyone to contribute ideas and work together."
"Blame can only ever leave the company; it can never exist within it."
"Every decision that's ever made in a boardroom you can fake like it's about money alone but it's not just about money alone it's about control."
"It's not just about Adani and his company, it's for the future because if the government wants to do a five trillion dollar economy, you can't do it if you have these kind of bogus things happening."
"I have zero confidence in what the FED is doing I I I just can't believe they can do like if you're a public company executive and you you do the stuff that they've been doing you'd be fired you'd be like put away."
"I keep on seeing all this stuff on Twitter about 'king this' and 'king that'. You know who the real king is? The shareholder is king."
"This is just another instance of the leadership team at AMC listening to the majority of their investors, which is us, it's the apes."
"Why name a think tank after a man who can't think and pay him a million a year for not doing anything?"
"He's got to be an example... get him out." - Tim Draper
"It's official, Elon Musk has joined the board of Twitter. Just got real."
"You know, you lay off 14,000 workers one day, and then the next day, you have your board petition the stockholders and say, 'Come on, let's reinstate his 56 billion compensation package.'"
"As long as Elon is around and he's like the largest shareholder for Tesla, like I'm generally okay with that."
"The very fact that we had to ask the question is, did Iger get involved? The very fact that we even had to ask that question is proof that this thing has gotten out of hand."
"Thank you all so much for watching this, and for being here and for donating."
"Disney shareholders need the company to consistently perform under the watchful eye of a Vigilant board that is the recipe for good eating."
"It's much better to be a CEO at a company with poor governance than a CEO at a company with great governance."
"She has a good faith obligation as a shareholder to the company, just as much as any other shareholder has to the company."
"Disney is suing Ron DeSantis over his political attacks on the company."
"The board of directors' job isn't to manage the short-term stock price; it's to support the company's Mission and the long-term interests of shareholders and the company."
"Okay well are those women on those boards there because they're extremely high performers and dedicated hard employees and they've driven themselves very hard with their work ethic to get on the board or are they there because they're women?"
"Bobby Kotick has not been informing the board of directors about multiple rape allegations that happened in 2016-2017."
"BlackRock, Vanguard and State Street signed on to a promise to agitate their portfolio companies toward reaching net zero greenhouse gas emissions by 2050."
"Elon can't tweet that like you can't have your CEO tweet that well I'm like he can he just did."
"Stephanie McMahon is the right person for the job."
"Elon isn't governing his companies on a whim. Evidence-based."
"CEO Bobby Kotick's statement reads, 'There is no place anywhere at our company for discrimination, harassment, or unequal treatment of any kind.'"
"But if you have a board that you put on, you put that board in place and that board votes you a massive raise in incentives, that's when people were... in 2008 focusing on."
"Clearly, if Tesla shareholders... literally own the store stock... voted in favor of Elon Musk's Compensation Plan... they believed it's in their best interest."
"The main difference between China and America is that the corporations work for the Chinese government."
"Disney is engaged in a scheme to conduct this illegal activity."
"Disney is going to have to play nice with the state of Florida. Disney is going to have to play nice with the district. They're no longer going to be able to say things that are outlies out defamation."
"Archer testified that there was value of adding Hunter Biden to barisma's board was the brand."
"They allowed this only at the beginning of the covered pandemic, they seem to think that someone in the position of director would not do such an obvious violation of terms."
"Bernie Sanders proposes workers' seats on boards of directors and coops for family-owned businesses." - Sam Cedar
"GM has the right to appoint an LMC board member, putting Lordstown in such a good position."
"Elon's package tied to milestones around revenue and profit... no loose proposition."
"Men are driving this whole women on boards nonsense."
"Just because Lee Jae-young is a grandson of the founder does that automatically mean that he's the most qualified person to run Samsung?"
"You have a lot to say with how that company is run."
"There seems to be some real cowardice in the boardroom."
"We're not in trench management, we're just... every decision I make on a daily basis is, is this in the best interest of my shareholders."
"Warner Brothers has had so many warning signs."
"Lack of focus... all the problems with Disney's board members."
"I would describe the McDonald's political system as a pretty vanilla system of corporate governance for a major American company."
"Rules-based enforcement more subjective moderation by senior executives."
"The Twitter board is committed to closing the transaction."
"This is massive news because it gives the token holders more say over the company's decisions and movements going forward."
"Norfolk Southern together with the questionable local government."
"Authorized share reductions from 20 billion to 8.75 billion."
"German managers do not need to please short-term shareholders as much as the Anglo-American counterpart."
"We need to be open to this essence of our diversity and explore different possibilities in terms of corporate governance."
"Carl Icahn has made a career of really opposing that tendency in American business of self-perpetuating boards."
"The problem is the system of how CEOs get paid."
"What corporate governance does is seek to try and ensure that the directors behave in such a way as to ensure the shareholders' objectives are met."
"Another key principle of best practice is that the chairperson, who runs the board and the CEO, the chief executive officer, who is the manager of the executives in the business should be separate roles, there should be two separate people."
"The discussion should be about how do good boards behave rather than how do you legislate against abuses."
"A really bad board can kill a company."
"A really good board can help somewhat."
"A board cannot function without independent board members who have operational experience."
"Corporate governance has never been Tesla's strong point."
"Advantages of having board committees include more focused attention, specialization, more time spent on strategic matters, and higher shareholder confidence."
"The duty to only exercise powers for the purposes for which they're conferred means that directors must exercise the powers they have in good faith for their intended purpose."
"Directors must act for the benefit of the company's members as a whole, prioritizing the interests of all members over any particular shareholder or group."
"We think a diverse boardroom is essential to the well-being of a company and its stewardship."
"Corporate governance serves the best interests of shareholders and stakeholders."
"The separation of ownership and control creates agency problems."
"Boards need to be much more introspective and think what should we be doing and what can the company be doing."
"...the compensation structure at your institution was not in line with the long-term interests of your shareholders and deposit holders."
"The governments around the world are going after all these companies just all over the place."
"Directors of companies are charged with stewardship of the company."
"Corporate governance is dead at tech companies. If there's going to be change here it's not going to come from the board of directors pushing for it. It's going to come from outside and it's going to come almost entirely from the price dropping enough that they care."
"Both the independence of the general counsel but also the culture within the organization and the relationship between the general counsel and the board particularly the general counsel and the non-execs."
"Being on the board of a large company is corporate America's highest honor and heaviest burden."
"This would give shareholders more say and more engagement with the company."
"This way, again, you can constantly tell the board, 'Hey, we feel we need to go in this direction.'"
"When you see companies targeted, it's not accidental. Activists don't cover their eyes and say, 'Let me point to a company and show up.' They're doing it because there's a set of circumstances that lead shareholders to question whether the company is going the right way."
"It should protect the rights of shareholders, including minority and foreign shareholders."
"Dividends may reduce agency costs, thus increasing the value of the firm."
"Directors must take ethical values seriously, not just pay lip service to them."
"The directors of the company are the agents, and it is a legal requirement that agents should act in the best interests of their principles."
"Good corporate governance means promoting values and demonstrating integrity."
"Transparency and informed decisions are crucial for good corporate governance."
"Independence means freedom from influence and making decisions in the company's best interest."
"They govern the spaces in which we live, and we need to start thinking about how we affect the governance of those companies."
"We need to start thinking about how we affect the governance of those companies because they govern the spaces in which we live."
"Banks with more independent board members take fewer risks."
"Directors of companies are answerable to their shareholders for ensuring that the due diligence process is properly carried out."
"Risk management involves requirement of risk awareness by senior corporate officers, a clear understanding of the enterprise's appetite for risk."
"The Sarbanes-Oxley Act was passed to protect the interests of investors and the public."
"33% of AMD's board are women and 22% are racial minorities."
"The quality management principles are customer focus, leadership, engagement of people, process approach, improvement, evidence-based decision making, and relationship management."
"Corporate governance at its core is really a leadership system."
"The goal of corporate governance: promote the interests of stakeholders in a fair and transparent manner."
"Who are we accountable to and for what?"
"What distinguishes responsible companies is that they collect ESG data in a much better way."
"If a company is not properly assessing their risks in this area, it raises a question in my mind what risks are they assessing in their day-to-day business operations."
"Governance ensures that the security strategies are aligned with business objectives and consistent with regulations."
"It is in the interest of all the bank's shareholders and customers that she continues in her position."
"Corporate governance is the system of rules, practices, and processes through which an organization is directed and controlled."
"Identification, analysis, and management of risk is central to running a company."
"The corporate governance system should promote transparent and efficient markets."
"The heart of corporate governance is transparency, disclosure, accountability, and integrity."
"Corporate governance which promotes transparent and efficient markets and be consistent with the rule of law."
"Boards should meet regularly as to provide proper oversight for risk management and internal control systems."
"Corporate governance really brings a healthy ecosystem in a corporate environment."
"The audit committee is a formal and transparent arrangement for maintaining an appropriate relationship with the company's auditors."
"The remuneration committee is responsible for determining the remuneration of the directors."
"Having good corporate governance means you are having a strong system that guides you, that directs you, and also controls your behavior."
"Make the board of directors responsible for monitoring and managing risk."
"By a company having a strong internal controls environment, you are reducing or mitigating the risk of errors in your financials."
"Ethical practices and regulations govern and promote fair practice between organizations and their customers, preventing bribery and corruption."
"Controls are just systems that companies put in place to make sure that their assets are being properly utilized."
"In the absence of corporate governance, you're exposing yourself to the kinds of catastrophic mistakes that can take the company down."
"We have processes and governance regimes to make sure that decisions are syndicated, they're taken thoughtfully."
"Ensure that the change is tested, there is segregation of duties, there is approval for these tests."
"Information security is a business issue, not just an IT department's headache."
"Chinese companies are required to essentially do whatever the Chinese government wants them to in terms of sharing information or serving as a tool of the Chinese government."
"As soon as the CEO is compromised or becomes inadequate, then they basically can replace the CEO."
"The buck ends with the president of the company; the responsibility, as does the authority."
"The shareholders are the principals; the directors are the agents."
"Self-regulated companies are unregulated companies."
"There should be 40 percent women on the board of all publicly quoted French companies."
"Strength of shareholder rights... which company is giving the greatest amount of protection to shareholders."
"Governance not only defines responsibility, it creates clear paths of accountability in the organization."
"Corporate social responsibility is all about showing company managers, their boards, and their shareholders that there is a way that everybody can win, and that ethics and profits don't have to be at odds with one another."
"Who's benefiting from these actions, and what does it tell you about corporate governance at the company?"
"The assumption that shareholders have complete power over managers and that managers therefore go out and do what's in the best interests of shareholders is false."
"A company should develop internal controls that provide reasonable assurance that the financial statements are fairly stated."
"Now he's no longer external; being a member of the board, it's less about the control and more about him being able to see what's under the hood."
"Eligible CSR activities have been specified in schedule 7 to the company's act."
"Corporate governance are rules and procedures that are designed to enable companies to be run properly."
"Amazing corporate governance is the way that shareholders have rules to ensure that the board of directors make decisions in their best interest."
"The essence of corporate governance is you have somebody pushing back against managers."
"Does this Board of Directors do what it was supposed to do, which is protect the interests of shareholders?"
"Accounting and disclosure standards, corporate governance, contracts, and property rights laws are essential."
"Companies that have better corporate governance tend to trade at higher prices than companies with bad corporate governance."
"What happens when the government has a big say in how decisions get made?"
"Financial transparency is important."
"If the regulator gets a lot of complaints about an organization, I would expect the regulator to go in and have a look around."
"A DPO's opinion must be given due weight, and if the business chooses not to follow the advice of the DPO, the business needs to document the reason for that decision."
"Transparency is not about Sarbanes-Oxley or the SEC or avoiding the perp walk... this is a powerful new force for growth."