SEC sues Musk for securities fraud

[Kaggeceria]

Hefty price to pay for a pot joke.

[Lord Dominator]

Hefty price to pay for a pot joke.

Not really seeing it that way personally, when that apparent joke only seems to have been the reason for that particular price

[Special Aromas]

Hefty price to pay for a pot joke.

Lol, I would have said that's a slap on the wrist for a multi-million dollar securities fraud but whatever.

[Uxupox]

who ever invested in tesla must be crying right now.

[Ethel mermania]

Market seems to like the deal

https://money.cnn.com/2018/10/01/techno ... index.html


Musk stays as CEO, but is no longer cha8rman of the board.

[Dooom35796821595]

Hefty price to pay for a pot joke.

Lol, I would have said that's a slap on the wrist for a multi-million dollar securities fraud but whatever.

Considering it’s a company that consistently fails to turn a profit, maybe not. Although that tends to be due to Musk spending money as soon as he gets it. Avoiding corporation tax by not making a profit?

[Vassenor]

Hefty price to pay for a pot joke.

Lol, I would have said that's a slap on the wrist for a multi-million dollar securities fraud but whatever.

Some people have it in their heads that if you say "it was just a joke" then all consequences for your actions magically evaporate.

[Evil Dictators Happyland]

Lol, I would have said that's a slap on the wrist for a multi-million dollar securities fraud but whatever.

Considering it’s a company that consistently fails to turn a profit, maybe not. Although that tends to be due to Musk spending money as soon as he gets it. Avoiding corporation tax by not making a profit?

Bronze Tier: Paying taxes.
Silver Tier: Avoiding taxes by moving your money to a tax haven.
Gold Tier: Bribing the IRS.
Platinum Tier: Overthrowing the government and setting the tax rate to 0%.
God Tier: Avoiding income tax by having zero income.

[Dooom35796821595]

Considering it’s a company that consistently fails to turn a profit, maybe not. Although that tends to be due to Musk spending money as soon as he gets it. Avoiding corporation tax by not making a profit?

Bronze Tier: Paying taxes.
Silver Tier: Avoiding taxes by moving your money to a tax haven.
Gold Tier: Bribing the IRS.
Platinum Tier: Overthrowing the government and setting the tax rate to 0%.
God Tier: Avoiding income tax by having zero income.

It’s not zero income, it’s no profit. I don’t know how it works in America, but in the UK companies can avoid corporation tax if they spend their profits instead of keeping them. It’s an incentive to get companies to reinvest their money, instead of hoarding it like a dragon.

[Trumptonium1]

Bronze Tier: Paying taxes.
Silver Tier: Avoiding taxes by moving your money to a tax haven.
Gold Tier: Bribing the IRS.
Platinum Tier: Overthrowing the government and setting the tax rate to 0%.
God Tier: Avoiding income tax by having zero income.

It’s not zero income, it’s no profit. I don’t know how it works in America, but in the UK companies can avoid corporation tax if they spend their profits instead of keeping them. It’s an incentive to get companies to reinvest their money, instead of hoarding it like a dragon.

Not quite how it works. You cannot 'spend' profit once it is made at year-end, you can only increase your overheads/investment if your operating budget is favourable because costs are down or revenues are up, or in other words you think you will be making more excess than you hoped (profit) so you choose to spend or invest it during the financial year. If you leave the excess until the financial year ends, that's classified as profit and will be taxed at 20% after interest (or lack thereof) is calculated. There's no moving money to avoid it once you reach that point. Whatever is left is retained profit, or otherwise available for dividends (common misconception - "you can pay dividends to avoid corporation tax" - completely wrong.)

Companies budget each year and monitor and adjust those budgets as they go along. Few companies plan to make as much profit as possible, unless they're looking for a funding round, a large dividend payout, an ipo or are a start-up looking to survive. As they budget along they will build up a fund to pay corporation tax as soon as their financial statements are devised, audited and sent out to the relevant tax jurisdiction. All part of the cash flow.

Not sure if I'm explaining the obvious and you worded it wrong or didn't know, but either way hey-ho. That said, a tax on dividends and royalties is much more logical if you want to see companies re-invest their profits. Quite a few countries have a 0% corporation tax but they tax dividend disbursements like profit. Also stops Apple et al. paying their Dutch subsidiary tens of billions for "the idea" of Apple (royalties) so much more tax anyway. Like Estonia. Makes much more sense.

[Major-Tom]

I should probably care more about the SEC's somewhat straw grasping reasoning (though their reasoning is within legal bounds). The reason I don't care, and am actually happy about this, is because Muck is a fucking prick who is too often worshiped by basement dwellers, wannabe intellectuals, and neckbeards of all stripes.

[Dooom35796821595]

It’s not zero income, it’s no profit. I don’t know how it works in America, but in the UK companies can avoid corporation tax if they spend their profits instead of keeping them. It’s an incentive to get companies to reinvest their money, instead of hoarding it like a dragon.

Not quite how it works. You cannot 'spend' profit once it is made at year-end, you can only increase your overheads/investment if your operating budget is favourable because costs are down or revenues are up, or in other words you think you will be making more excess than you hoped (profit) so you choose to spend or invest it during the financial year. If you leave the excess until the financial year ends, that's classified as profit and will be taxed at 20% after interest (or lack thereof) is calculated. There's no moving money to avoid it once you reach that point. Whatever is left is retained profit, or otherwise available for dividends (common misconception - "you can pay dividends to avoid corporation tax" - completely wrong.)

Companies budget each year and monitor and adjust those budgets as they go along. Few companies plan to make as much profit as possible, unless they're looking for a funding round, a large dividend payout, an ipo or are a start-up looking to survive. As they budget along they will build up a fund to pay corporation tax as soon as their financial statements are devised, audited and sent out to the relevant tax jurisdiction. All part of the cash flow.

Not sure if I'm explaining the obvious and you worded it wrong or didn't know, but either way hey-ho. That said, a tax on dividends and royalties is much more logical if you want to see companies re-invest their profits. Quite a few countries have a 0% corporation tax but they tax dividend disbursements like profit. Also stops Apple et al. paying their Dutch subsidiary tens of billions for "the idea" of Apple (royalties) so much more tax anyway. Like Estonia. Makes much more sense.

Yeah, that is effectively what I meant. I mean, you don’t (normally) wait until April to suddenly spend all the excess budget money. Although there are always tricks a company tries to use to get around the tax, or any tax. It’s one of the reasons the tax code is so complex, because the government then tries to close those loopholes.

[Conserative Morality]

I should probably care more about the SEC's somewhat straw grasping reasoning (though their reasoning is within legal bounds). The reason I don't care, and am actually happy about this, is because Muck is a fucking prick who is too often worshiped by basement dwellers, wannabe intellectuals, and neckbeards of all stripes.

My friend just wants an electric sports car and a flamethrower, is that really so bad? Isn't that the American dream?

[Major-Tom]

I should probably care more about the SEC's somewhat straw grasping reasoning (though their reasoning is within legal bounds). The reason I don't care, and am actually happy about this, is because Muck is a fucking prick who is too often worshiped by basement dwellers, wannabe intellectuals, and neckbeards of all stripes.

My friend just wants an electric sports car and a flamethrower, is that really so bad? Isn't that the American dream?

I'm more talking about Musk as a person and the people who seem to think he's this incredible businessman. Hell, I want a flamethrower and a sports car, but Musk still pisses me off.

[Costa Fierro]

Musk stays as CEO, but is no longer cha8rman of the board.

Damn.

[Dooom35796821595]

https://www.bbc.co.uk/news/business-45754299

I guess Musk has a lot in common with Trump, with his inability to stop posting crap on twitter.

So, Musk 2020?

[Kowani]

https://www.bbc.co.uk/news/business-45754299

I guess Musk has a lot in common with Trump, with his inability to stop posting crap on twitter.

So, Musk 2020?

Nah, let’s resurrect Henry Ford’s ghost and put him in the Oval Office. Probably screw the environment less than what we’re already doing.

[Lord Dominator]

https://www.bbc.co.uk/news/business-45754299

I guess Musk has a lot in common with Trump, with his inability to stop posting crap on twitter.

So, Musk 2020?

Nah, let’s resurrect Henry Ford’s ghost and put him in the Oval Office. Probably screw the environment less than what we’re already doing.

I say Nixon. He's already hated so nowhere to go but up, was at least better about his disgracing the political process, and was decent environment-wise

[Ethel mermania]

https://www.bbc.co.uk/news/business-45754299

I guess Musk has a lot in common with Trump, with his inability to stop posting crap on twitter.

So, Musk 2020?

It doesn't say anything about tesla, so they will take it. It's not going to make him any friends at the SEC thought..

I didn't realize the judge still has to sign off. I would have waited till the deal was sealed if I were him. The guy is a short sellers dream, he guarantees volatility in stock price.

[Dumb Ideologies]

https://www.bbc.co.uk/news/business-45754299

I guess Musk has a lot in common with Trump, with his inability to stop posting crap on twitter.

So, Musk 2020?

Exactly what I thought when I read that.

Besides, it's either that or wait until he makes an Iron Man suit and seizes power by force.

[Empire of Narnia]

Trump should pardon him.

[Olerand]

What is there to say?

[Vince Vaughn]

All these threads about Musk, who gives a shit?

I do, I find it interesting. Musk is the biggest celeberty businessman since howard hughes

Donald Trump

[Valentine Z]

I don't mean any malice, but is it bad that I kinda expected this and see this coming? I mean, it's just waiting to happen.

Dude's been going crazy on Twitter and starting drama, and considering his position as a CEO, you would think that he would tone it down a notch?

[Ethel mermania]

I do, I find it interesting. Musk is the biggest celeberty businessman since howard hughes

Donald Trump

Trump is a NYC real estate developer, Neither musk or Hughes were. Industrialist may have been a better choice of words.