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By TOM KRISHER, Associated Press DETROIT (AP) — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. On Monday, Chancellor Kathaleen St. Jude McCormick turned aside a request from Musk’s lawyers to reverse a ruling she announced in January that had thrown out the compensation plan. The judge ruled then that Musk effectively controlled Tesla’s board and had engineered the outsize pay package during sham negotiations . Lawyers for a Tesla shareholder who sued to block the pay package contended that shareholders who had voted for the 10-year plan in 2018 had been given misleading and incomplete information. In their defense, Tesla’s board members asserted that the shareholders who ratified the pay plan a second time in June had done so after receiving full disclosures, thereby curing all the problems the judge had cited in her January ruling. As a result, they argued, Musk deserved the pay package for having raised Tesla’s market value by billions of dollars. McCormick rejected that argument. In her 103-page opinion, she ruled that under Delaware law, Tesla’s lawyers had no grounds to reverse her January ruling “based on evidence they created after trial.” What will Musk and Tesla do now? On Monday night, Tesla posted on X, the social media platform owned by Musk, that the company will appeal. The appeal would be filed with the Delaware Supreme Court, the only state appellate court Tesla can pursue. Experts say a ruling would likely come in less than a year. “The ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners — the shareholders,” Tesla argued. Later, on X, Musk unleashed a blistering attack on the judge, asserting that McCormick is “a radical far left activist cosplaying as a judge.” What do experts say about the case? Legal authorities generally suggest that McCormick’s ruling was sound and followed the law. Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, said that in his view, McCormick was right to rule that after Tesla lost its case in the original trial, it created improper new evidence by asking shareholders to ratify the pay package a second time. Had she allowed such a claim, he said, it would cause a major shift in Delaware’s laws against conflicts of interest given the unusually close relationship between Musk and Tesla’s board. “Delaware protects investors — that’s what she did,” said Elson, who has followed the court for more than three decades. “Just because you’re a ‘superstar CEO’ doesn’t put you in a separate category.” Elson said he thinks investors would be reluctant to put money into Delaware companies if there were exceptions to the law for “special people.” What will the Delaware Supreme Court do? Elson said that in his opinion, the court is likely to uphold McCormick’s ruling. Can Tesla appeal to federal courts? Experts say no. Rulings on state laws are normally left to state courts. Brian Dunn, program director for the Institute of Compensation Studies at Cornell University, said it’s been his experience that Tesla has no choice but to stay in the Delaware courts for this compensation package. Tesla has moved its legal headquarters to Texas. Does that matter? The company could try to reconstitute the pay package and seek approval in Texas, where it may expect more friendlier judges. But Dunn, who has spent 40 years as an executive compensation consultant, said it’s likely that some other shareholder would challenge the award in Texas because it’s excessive compared with other CEOs’ pay plans. “If they just want to turn around and deliver him $56 billion, I can’t believe somebody wouldn’t want to litigate it,” Dunn said. “It’s an unconscionable amount of money.” Would a new pay package be even larger? Almost certainly. Tesla stock is trading at 15 times the exercise price of stock options in the current package in Delaware, Morgan Stanley analyst Adam Jonas wrote in a note to investors. Tesla’s share price has doubled in the past six months, Jonas wrote. At Monday’s closing stock price, the Musk package is now worth $101.4 billion, according to Equilar, an executive data firm. And Musk has asked for a subsequent pay package that would give him 25% of Tesla’s voting shares. Musk has said he is uncomfortable moving further into artificial intelligence with the company if he doesn’t have 25% control. He currently holds about 13% of Tesla’s outstanding shares.
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WEST PALM BEACH, Fla. (AP) — First it was Canada , then the Panama Canal . Now, Donald Trump again wants Greenland . The president-elect is renewing unsuccessful calls he made during his first term for the U.S. to buy Greenland from Denmark, adding to the list of allied countries with which he's picking fights even before taking office on Jan. 20. In a Sunday announcement naming his ambassador to Denmark, Trump wrote that, “For purposes of National Security and Freedom throughout the World, the United States of America feels that the ownership and control of Greenland is an absolute necessity." Trump again having designs on Greenland comes after the president-elect suggested over the weekend that the U.S. could retake control of the Panama Canal if something isn't done to ease rising shipping costs required for using the waterway linking the Atlantic and Pacific oceans. He's also been suggesting that Canada become the 51st U.S. state and referred to Canadian Prime Minister Justin Trudeau as “governor” of the “Great State of Canada.” Stephen Farnsworth, a political science professor at the University of Mary Washington in Fredericksburg, Virginia, said Trump tweaking friendly countries harkens back to an aggressive style he used during his days in business. “You ask something unreasonable and it’s more likely you can get something less unreasonable,” said Farnsworth, who is also author of the book “Presidential Communication and Character.” Greenland, the world’s largest island, sits between the Atlantic and Arctic oceans. It is 80% covered by an ice sheet and is home to a large U.S. military base. It gained home rule from Denmark in 1979 and its head of government, Múte Bourup Egede, suggested that Trump’s latest calls for U.S. control would be as meaningless as those made in his first term. “Greenland is ours. We are not for sale and will never be for sale,” he said in a statement. “We must not lose our years-long fight for freedom.” The Danish Prime Minister’s Office said in its own statement that the government is “looking forward to welcoming the new American ambassador. And the Government is looking forward to working with the new administration.” “In a complex security political situation as the one we currently experience, transatlantic cooperation is crucial,” the statement said. It noted that it had no comment on Greenland except for it “not being for sale, but open for cooperation.” Trump canceled a 2019 visit to Denmark after his offer to buy Greenland was rejected by Copenhagen, and ultimately came to nothing . He also suggested Sunday that the U.S. is getting “ripped off” at the Panama Canal. Story continues below video “If the principles, both moral and legal, of this magnanimous gesture of giving are not followed, then we will demand that the Panama Canal be returned to the United States of America, in full, quickly and without question,” he said. Panama President José Raúl Mulino responded in a video that “every square meter of the canal belongs to Panama and will continue to,” but Trump fired back on his social media site, “We’ll see about that!” The president-elect also posted a picture of a U.S. flag planted in the canal zone under the phrase, “Welcome to the United States Canal!” The United States built the canal in the early 1900s but relinquished control to Panama on Dec. 31, 1999, under a treaty signed in 1977 by President Jimmy Carter . The canal depends on reservoirs that were hit by 2023 droughts that forced it to substantially reduce the number of daily slots for crossing ships. With fewer ships, administrators also increased the fees that shippers are charged to reserve slots to use the canal. The Greenland and Panama flareups followed Trump recently posting that “Canadians want Canada to become the 51st State" and offering an image of himself superimposed on a mountaintop surveying surrounding territory next to a Canadian flag. Trudeau suggested that Trump was joking about annexing his country, but the pair met recently at Trump's Mar-a-Lago club in Florida to discuss Trump's threats to impose a 25% tariff on all Canadian goods. “Canada is not going to become part of the United States, but Trump’s comments are more about leveraging what he says to get concessions from Canada by putting Canada off balance, particularly given the precarious current political environment in Canada,” Farnsworth said. “Maybe claim a win on trade concessions, a tighter border or other things.” He said the situation is similar with Greenland. “What Trump wants is a win," Farnsworth said. "And even if the American flag doesn’t raise over Greenland, Europeans may be more willing to say yes to something else because of the pressure.” Associated Press writers Gary Fields in Washington and Geir Moulson in Berlin contributed to this report.
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It’s that special time of year. ‘Tis the season of good cheer. The family gathers at the table. And eats as much as they are able. Under the tree are presents in wraps. Politics come up, then everyone snaps. “You’re an idiot!”...“I hate your views!”... “I watch CNN!”...”I watch Fox News!” “Trump plans to build that evil wall.” “The border is a free-for-all!” “About the environment, he couldn’t care less.” “Russia’s in Ukraine and the Middle East’s a mess!” “He’s as fascist as can be.” “Criminals are running free!” “He’s a pompous, orange bore.” “Every product now costs more!” “Kamala would’ve been just fine!” “At word salad and drinking wine.” “‘Joy’ tops ‘MAGA’ as a slogan.” “She should’ve gone on Joe Rogan.” “And JD Vance! I don’t like him!” “He’s way better than Tiresome Tim!” “Vance is mean. His ideas are crud.” “Walz reminds me of Elmer Fudd.” The argument is fiercely fought. But in the end, it’s all for naught. Since your family is so unstable: No politics at the dinner table! For someone’s political thoughts, you shouldn’t give a penny, Happy holidays to all and may your blessings be many! Name withheld by request, Beachwood The writer is a graduate of Cleveland Heights High School.
In a filing made public Tuesday, Trump’s lawyers told Manhattan Judge Juan M. Merchan that dismissal is warranted because of the “overwhelming national mandate granted to him by the American people on November 5, 2024.” They also cited President Joe Biden’s recent pardon of his son, Hunter Biden, who had been convicted of tax and gun charges . “President Biden asserted that his son was ‘selectively, and unfairly, prosecuted,’ and ‘treated differently,’" Trump’s legal team wrote. The Manhattan district attorney, they claimed, had engaged in the type of political theater "that President Biden condemned.” Prosecutors will have until Dec. 9 to respond. They have said they will fight any efforts to dismiss the case but have indicated a willingness to delay the sentencing until after Trump’s second term ends in 2029. In their filing Monday, Trump's attorneys dismissed the idea of holding off sentencing until Trump is out of office as a “ridiculous suggestion.” Following Trump’s election victory last month, Merchan halted proceedings and indefinitely postponed his sentencing, previously scheduled for late November, to allow the defense and prosecution to weigh in on the future of the case. He also delayed a decision on Trump’s prior bid to dismiss the case on immunity grounds. Trump has been fighting for months to reverse his conviction on 34 counts of falsifying business records to conceal a $130,000 payment to porn actor Stormy Daniels to suppress her claim that they had sex a decade earlier. He says they did not and denies any wrongdoing. Taking a swipe at Bragg and New York City, as Trump often did throughout the trial, the filing argues that dismissal would also benefit the public by giving him and “the numerous prosecutors assigned to this case a renewed opportunity to put an end to deteriorating conditions in the City and to protect its residents from violent crime.” Clearing Trump, the lawyers added, would also allow him to “to devote all of his energy to protecting the Nation.” The defense filing was signed by Trump lawyers Todd Blanche and Emil Bove, who represented Trump during the trial and have since been selected by the president-elect to fill senior roles at the Justice Department. A dismissal would erase Trump’s historic conviction, sparing him the cloud of a criminal record and possible prison sentence. Trump is the first former president to be convicted of a crime and the first convicted criminal to be elected to the office. Trump takes office on Jan. 20. Merchan hasn’t set a timetable for a decision. Merchan could also decide to uphold the verdict and proceed to sentencing, delay the case until Trump leaves office, wait until a federal appeals court rules on Trump’s parallel effort to get the case moved out of state court or choose some other option. Prosecutors had cast the payout as part of a Trump-driven effort to keep voters from hearing salacious stories about him. Trump’s then-lawyer Michael Cohen paid Daniels. Trump later reimbursed him, and Trump’s company logged the reimbursements as legal expenses — concealing what they really were, prosecutors alleged. Trump has pledged to appeal the verdict if the case is not dismissed. He and his lawyers said the payments to Cohen were properly categorized as legal expenses for legal work. A month after the verdict, the Supreme Court ruled that ex-presidents can’t be prosecuted for official acts — things they did in the course of running the country — and that prosecutors can’t cite those actions to bolster a case centered on purely personal, unofficial conduct. Trump’s lawyers cited the ruling to argue that the hush money jury got some improper evidence, such as Trump’s presidential financial disclosure form, testimony from some White House aides and social media posts made during his first term. Prosecutors disagreed and said the evidence in question was only “a sliver” of their case. If the verdict stands and the case proceeds to sentencing, Trump’s punishments would range from a fine to probation to up to four years in prison — but it’s unlikely he’d spend any time behind bars for a first-time conviction involving charges in the lowest tier of felonies. Because it is a state case, Trump would not be able to pardon himself once he returns to office. Presidential pardons apply only to federal crimes.None
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NEW YORK--(BUSINESS WIRE)--Dec 6, 2024-- Braze (NASDAQ: BRZE), the leading customer engagement platform that empowers brands to Be Absolutely EngagingTM, today announced it will participate in two upcoming investor conferences with management presentations: Event: Barclays Global Technology Conference Date & Time: Thursday, December 12th, 2024 Management Presentation: Cofounder and CEO Bill Magnuson at 8:40 - 9:10 am PT Event: Needham Growth Conference Date & Time: Tuesday, January 14th, 2025 Management Presentation: CFO Isabelle Winkles at 2:15 pm ET All conference presentations will be webcast and available under the events section of our Investor site at investors.braze.com . About Braze Braze is the leading customer engagement platform that empowers brands to Be Absolutely Engaging.TM Braze allows any marketer to collect and take action on any amount of data from any source, so they can creatively engage with customers in real time, across channels from one platform. From cross-channel messaging and journey orchestration to Al-powered experimentation and optimization, Braze enables companies to build and maintain absolutely engaging relationships with their customers that foster growth and loyalty. The company has been recognized as a 2024 U.S. News Best Technology Companies to Work For, is a 2023 UK Best Workplace for Women by Great Place to Work, and was named a Leader by Gartner® in the 2024 Magic QuadrantTM for Multichannel Marketing Hubs and in The Forrester WaveTM: Cross-Channel Marketing Hubs, Q1 2023. Braze is headquartered in New York with 10+ offices across North America, Europe, and APAC. Learn more at braze.com . Disclosure Information: In compliance with disclosure obligations under Regulation FD, Braze announces material information through a variety of means, including its Investor site, press releases, SEC filings, public conference calls, and company blog posts. View source version on businesswire.com : https://www.businesswire.com/news/home/20241206977544/en/ CONTACT: Investors: Christopher Ferris ir@braze.comMedia : Meghan Halaszynski press@braze.com KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: TECHNOLOGY SEARCH ENGINE OPTIMIZATION SEARCH ENGINE MARKETING ELECTRONIC COMMERCE ARTIFICIAL INTELLIGENCE OTHER COMMUNICATIONS PUBLIC RELATIONS/INVESTOR RELATIONS MARKETING DIGITAL MARKETING ADVERTISING NETWORKS COMMUNICATIONS INTERNET CONTENT MARKETING SOURCE: Braze Copyright Business Wire 2024. PUB: 12/06/2024 04:05 PM/DISC: 12/06/2024 04:05 PM http://www.businesswire.com/news/home/20241206977544/en
Name: Sienna Kirsch School: Cambria Heights Age: 18 Grade: 12 Sport: Basketball Parents: Bruce and Angelique Kirsch, of Patton Athletic achievements: Scoring her 1,000th career point as a junior, 2022-23 and 2023-24 all-Heritage Conference selection, 2022-23 Cambria County Basketball Coaches Association third-team and 2023-24 second-team selections, and Altoona Mirror athlete of the week. Coach’s quote: “Sienna’s love of the game and her understanding of the game has made her a standout player. Sienna can score in many different ways and impacts the game both offensively and defensively. She’s had a great career at Cambria Heights and she continues to work on reaching team goals.” – Cambria Heights girls basketball coach Eric Thomas Favorite subject: Biology Favorite movie: “It Ends with Us” Favorite book or video game: Don’t have one Favorite food: Chipotle Favorite teacher (subject taught): Mrs. Carpinello (English/yearbook) Favorite song: “That’s So True” by Gracie Abrams Favorite app on your phone: TikTok Outside interests: Shopping and hanging out with my friends If you were an animal, what animal would you be and why?: A cat because they lay around all day and have an easy life Favorite athletic team: University of Nebraska volleyball Athlete most admired: Connecticut guard Paige Bueckers Most influential person on my athletic career: My mom, dad and older brother Most impressive athlete that you have competed against: Peters Township senior and Miami (Florida) basketball commit Natalie Wetzel Proudest athletic achievement: Scoring my 1,000th career point as a junior How I got my start: In preschool, I went to clinics at The Summit and played in a league my mom coached Future goal: Play basketball in college - Jake Oswalt (c)2024 The Tribune-Democrat (Johnstown, Pa.) Visit The Tribune-Democrat (Johnstown, Pa.) at www.tribune-democrat.com Distributed by Tribune Content Agency, LLC.By TOM KRISHER, Associated Press DETROIT (AP) — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. On Monday, Chancellor Kathaleen St. Jude McCormick turned aside a request from Musk’s lawyers to reverse a ruling she announced in January that had thrown out the compensation plan. The judge ruled then that Musk effectively controlled Tesla’s board and had engineered the outsize pay package during sham negotiations . Lawyers for a Tesla shareholder who sued to block the pay package contended that shareholders who had voted for the 10-year plan in 2018 had been given misleading and incomplete information. In their defense, Tesla’s board members asserted that the shareholders who ratified the pay plan a second time in June had done so after receiving full disclosures, thereby curing all the problems the judge had cited in her January ruling. As a result, they argued, Musk deserved the pay package for having raised Tesla’s market value by billions of dollars. McCormick rejected that argument. In her 103-page opinion, she ruled that under Delaware law, Tesla’s lawyers had no grounds to reverse her January ruling “based on evidence they created after trial.” On Monday night, Tesla posted on X, the social media platform owned by Musk, that the company will appeal. The appeal would be filed with the Delaware Supreme Court, the only state appellate court Tesla can pursue. Experts say a ruling would likely come in less than a year. “The ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners — the shareholders,” Tesla argued. Later, on X, Musk unleashed a blistering attack on the judge, asserting that McCormick is “a radical far left activist cosplaying as a judge.” Legal authorities generally suggest that McCormick’s ruling was sound and followed the law. Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, said that in his view, McCormick was right to rule that after Tesla lost its case in the original trial, it created improper new evidence by asking shareholders to ratify the pay package a second time. Had she allowed such a claim, he said, it would cause a major shift in Delaware’s laws against conflicts of interest given the unusually close relationship between Musk and Tesla’s board. “Delaware protects investors — that’s what she did,” said Elson, who has followed the court for more than three decades. “Just because you’re a ‘superstar CEO’ doesn’t put you in a separate category.” Elson said he thinks investors would be reluctant to put money into Delaware companies if there were exceptions to the law for “special people.” Elson said that in his opinion, the court is likely to uphold McCormick’s ruling. Experts say no. Rulings on state laws are normally left to state courts. Brian Dunn, program director for the Institute of Compensation Studies at Cornell University, said it’s been his experience that Tesla has no choice but to stay in the Delaware courts for this compensation package. The company could try to reconstitute the pay package and seek approval in Texas, where it may expect more friendlier judges. But Dunn, who has spent 40 years as an executive compensation consultant, said it’s likely that some other shareholder would challenge the award in Texas because it’s excessive compared with other CEOs’ pay plans. “If they just want to turn around and deliver him $56 billion, I can’t believe somebody wouldn’t want to litigate it,” Dunn said. “It’s an unconscionable amount of money.” Almost certainly. Tesla stock is trading at 15 times the exercise price of stock options in the current package in Delaware, Morgan Stanley analyst Adam Jonas wrote in a note to investors. Tesla’s share price has doubled in the past six months, Jonas wrote. At Monday’s closing stock price, the Musk package is now worth $101.4 billion, according to Equilar, an executive data firm. And Musk has asked for a subsequent pay package that would give him 25% of Tesla’s voting shares. Musk has said he is uncomfortable moving further into artificial intelligence with the company if he doesn’t have 25% control. He currently holds about 13% of Tesla’s outstanding shares.
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Roquan Smith missed practice again Friday because of a hamstring injury. Although the Ravens didn't officially rule him or anyone else out — they don't play until Monday night — the All-Pro linebacker's status seems dicey. “Definitely it will be a challenge if Roquan can’t go,” defensive coordinator Zach Orr said. “We’re holding out hope and everything like that. I think it’ll just be by committee. Not one person is going to replace Roquan. Roquan’s an every-down linebacker.” Although the Ravens lost 18-16 last weekend, Baltimore didn't allow a touchdown. That was an encouraging sign for a team that ranks 26th in the league in total defense. Baltimore is on the road Monday against the Los Angeles Chargers. The Ravens appear to have dodged one potential nightmare. Star safety Kyle Hamilton injured an ankle against Cincinnati on Nov. 7, but he was able to play almost every defensive snap the following week against Pittsburgh. But Smith was injured in that game and didn't practice Thursday or Friday. Linebacker Malik Harrison had a season high in tackles last weekend and figures to have a significant role if Smith can't go. “We tell these guys, ‘You’re one play away to going in there — you never know, so you got to stay ready.’ Malik — he was ready,” Orr said. “I thought he went in there and did a good job, especially after the first series, he settled down. That’s what we expect from him.” It's hard to tell whether last week can be a significant turning point for Baltimore's defense. The Ravens allowed only 10 points in a dominant win over Buffalo in Week 4, then yielded 38 against Cincinnati the following game. After allowing 10 against Denver, the Ravens were picked apart by the Bengals again a few days later. So they still haven't shown they can play a good game defensively and then build on it. “I think it’s easier said than done. It’s something that we kind of got caught up saying against Buffalo and then coming up the next week and not doing," Hamilton said. "We’re aware of it now and know that we played a good game, but I think we can get a lot better, and I think that’s kind of the mindset everybody on defense has right now.” Hamilton's ability to make a difference all over the field is part of what makes him valuable, but positioning him deep is one way the Ravens can try to guard against big passing plays. Pittsburgh's Russell Wilson threw for only 205 yards against Baltimore. That's after Joe Burrow passed for 428 and four touchdowns in the Ravens' previous game. “I’ve always seen myself as a safety. A versatile one, but at the end of the day, I think I play safety,” Hamilton said. “If I’m asked to go play safety, I feel like that’s not an issue for me to play safety if I’m a safety.” NOTES: In addition to Smith, WR Rashod Bateman (knee), DT Travis Jones (ankle), S Sanoussi Kane (ankle) C Tyler Linderbaum (back) and CB Arthur Maulet (calf) missed practice Friday. WR Nelson Agholor (illness) returned to full participation after missing Thursday's practice. AP NFL: https://apnews.com/hub/NFLNews companies have shed hundreds of jobs since Meta refused to continue paying them, and the opposition says yesterday's announcement of a new tax on the social giants could have been made months ago — before those jobs were lost. On Thursday, the federal government said it would introduce a tax on social media companies that could be used to fund Australian news media — with an "offset" for the social giants to pay less or zero if they negotiate deals directly with news companies instead. The tax is a reaction to the owner of Facebook and Instagram, Meta, deciding in March to stop complying with laws that require social media companies to pay for hosting news content on their platforms. Facebook, Google to be hit with tax in push to get platforms to fund news Photo shows A black farmed mobile phone featuring a Meta logo in front of blurred social media platform logos The government wants to impose a new tax to push the tech platforms to make funding agreements with news organisations. But Shadow Communications Minister David Coleman said in the months since Meta's snub of the code, the government had allowed job losses in the media sector through its delays, because it had not considered the issue a priority. "The delay is completely inexcusable. It's not the Manhattan Project: this could have been done months and months ago," Mr Coleman told the ABC. "It's the typical meandering, indecisive approach that we see from the Albanese government, and it has a very real consequence, because we have seen the loss of hundreds and hundreds of jobs in Australian journalism." Since Meta... Jake Evans
