{"id":178656,"date":"2018-09-29T19:01:00","date_gmt":"2018-09-30T00:01:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2018\/09\/29\/wrist-slap\/"},"modified":"2018-09-29T19:01:00","modified_gmt":"2018-09-30T00:01:00","slug":"wrist-slap","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2018\/09\/29\/wrist-slap\/","title":{"rendered":"Wrist Slap"},"content":{"rendered":"<div>After much enforcementn theater, <a href=\"https:\/\/www.theguardian.com\/technology\/2018\/sep\/29\/elon-musk-tesla-40m-sec-case-tweets\">the SEC and Tesla settle with what amounts to a wrist slap<\/a>.&nbsp;<\/div>\n<p>Elon Musk has to resign as chairman of the board and he, and Tesla, have to pay a small fine, which looks like meaningful enforcement, but has little real consequence:  He still runs the company, he is still the largest share holder, so it is a distinction without a difference:<\/p>\n<blockquote><p><span style=\"color: blue;\"><a href=\"https:\/\/www.theguardian.com\/technology\/elon-musk\">Elon Musk<\/a> is to step down as chair of Tesla for three years and pay a fine after reaching a deal with the US financial regulator over tweets he made about taking the firm into private ownership. <\/p>\n<p>Under the settlement Musk would remain as chief executive but must leave his other post within 45 days. Both he and the company will each pay a $20m (\u00a315.3m) fine. <\/p>\n<p>The entrepreneur has overseen two tumultuous months for the car company that battered Tesla\u2019s share price and Musk\u2019s reputation. Last Friday <a href=\"https:\/\/www.theguardian.com\/technology\/2018\/sep\/28\/tesla-elon-musk-sec-lawsuit-shares-fall\">Tesla\u2019s share price was down close to 14%<\/a> as investors lost confidence.<\/span><\/p><\/blockquote>\n<p>&nbsp;Weak tea.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After much enforcementn theater, the SEC and Tesla settle with what amounts to a wrist slap.&nbsp; Elon Musk has to resign as chairman of the board and he, and Tesla, have to pay a small fine, which looks like meaningful enforcement, but has little real consequence: He still runs the company, he is still the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[473,365,368,437],"class_list":["post-178656","post","type-post","status-publish","format-standard","hentry","tag-auto-industry","tag-business","tag-corruption","tag-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/178656"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=178656"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/178656\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=178656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=178656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=178656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}