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Everything is Relative


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This fine is generally considered good news if you’re a shareholder in Tesla. He pays a fine and steps down as Chairman for 3 years but is permitted to remain CEO.  He doesn’t admit any wrong doing and the matter is put behind him.  The board can focus on governance which has been a cloud over the company - in the words of the former SEC commissioner, Joseph Grundfest, “Musk might be a genius when it comes to electric cars and space travel but he’s a little bit of a numbnut but when it comes to dealing with the SEC”  


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