
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.Andrews Sykes Group (LON:ASY) Sets New 12-Month Low – Time to Sell?
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MicroStrategy stock rises 3.3% amid Nasdaq 100 inclusion speculationPublished 4:08 pm Wednesday, November 27, 2024 By Data Skrive Thursday’s college basketball schedule includes three games featuring a ranked team on the court. Among those contests is the South Carolina Gamecocks squaring off against the Iowa State Cyclones. Watch women’s college basketball, other live sports and more on Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Use our link to sign up for a free trial. Catch tons of live women’s college basketball , plus original programming, with ESPN+ or the Disney Bundle.
December 6, 2024 Deadline: Contact The Gross Law Firm to Join Class Action Suit Against AILEMaryland (4-7, 1-7 Big Ten) at No. 4 Penn State (10-1, 7-1 Big Ten, No. 4 CFP), Saturday, 3:30 p.m. ET (BTN) BetMGM College Football Odds: Penn State by 24 1/2. Series record: Penn State 43-3-1. WHAT’S AT STAKE? The Nittany Lions will try for their first 11-win regular season in James Franklin’s 10-year tenure and hang onto their chance to host a playoff game. The Nittany Lions could still get to the Big Ten championship game, but would need Michigan to beat No. 2 Ohio State in Columbus earlier in the day. The Terrapins have lost four in a row and are trying to avoid their longest skid since losing seven straight to end the 2019 season. KEY MATCHUP Maryland’s front seven vs. Penn State’s running game. The Nittany Lions lost starting right tackle Anthony Donkoh to a long-term injury last week but were still able to eclipse the 100-yard rushing mark against a tough Minnesota defense. Maryland has allowed 176 rushing yards per game over its last four. The Terps will need to do better against a Nittany Lion ground game fueled by running backs Nicholas Singleton, Kaytron Allen, tight end Tyler Warren and quarterback Beau Pribula. PLAYERS TO WATCH Maryland: WR Tai Felton. Only one FBS player has more catches than Felton. The sure-handed senior leads the Big Ten with 92 catches for 1,097 yards. He’s scored nine touchdowns and should be a focal point for Penn State’s secondary. Penn State: Singleton. The explosive back has recovered from the unspecified injury that slowed him earlier in the season. He had a season-high 19 touches last week versus Maryland including a career-most six catches. FACTS & FIGURES Maryland is 2-3 in Happy Valley since joining the Big Ten with wins in 2014 and 2020. ... Felton has 183 more receiving yards than the next closest Big Ten WR (Illinois’ Pat Bryant) and is 143 yards away from Marcus Badgett’s single-season record set in 1992. ... Penn State has won seven of the last eight against Maryland. ... The Nittany Lions secured their 27th 10-win season last week. ... Warren became Penn State’s all-time leader in reception yards for a tight end (1,516) with 102 yards against Minnesota. ... DT Zane Durant leads the Big Ten and is fourth among Power Four tackles with 8 1/2 tackles for loss this season. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up . AP college football: and
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Caitlin Clark is the all-time leading scorer in NCAA Division I basketball, finishing her career with 3,951 points across four seasons. Now, when she looks back, she questions why she wasn’t guarded better. In a TIME interview with Sean Gregory, Clark noted just how much higher the basketball IQ is in the WNBA than in the women’s game. “Professional players and professional coaches — this is no disrespect to college women’s basketball — are a lot smarter,” Clark said. “I love women’s college basketball. But if you go back and watch the way people guarded me in college, it’s almost, like, concerning. They didn’t double me, they didn’t trap me, they weren’t physical.” Clark acknowledged that many of the players she faced were not continuing their careers past college, and that basketball IQ played a role. “A lot of those women will never go on to play another basketball game in their life,” Clark said. “They don’t have the IQ of understanding how the game works. So I completely understand it. And it’s no disrespect at all. They don’t have the IQ. You have to simplify it for girls at that age.” In her senior season, Clark averaged 32.1 points, 8.5 assists, and 7.3 rebounds, recording six triple-doubles. Her 2024 tournament run was punctuated by a 41-point, 12-assist outing in an Elite Eight win over LSU . In that game, she was primarily guarded by Hailey Van Lith, a 5’ 7 guard who clearly struggled to keep up with her. Caitlin Clark tweet pic.twitter.com/d5g87C6Uxb At the time, many wondered why LSU didn’t double-team her or put a more physical defender on her. The end result was a 94-87 Iowa victory. Now, we know that Clark also often wondered about opposing teams’ and coaches’ lackluster schemes as well. Clark struggled in the early days of her WNBA career, but quickly found her footing, going on to average 19.2 points, 8.4 assists, and 5.7 rebounds per game. From the jump, she faced a level of physicality and defensive intensity she rarely faced in college. In her TIME interview with Gregory, an NCAA women’s basketball game between USC and Ole Miss was fitting playing in the background. “I feel like if I was out there, I would literally have 50 [points],” Clark said. “The college game is so much easier than professional.”Germany is to vote in an early election on February 23 after Chancellor Olaf Scholz’s three-party governing coalition collapsed last month in a dispute over how to revitalise the country’s stagnant economy. Mr Musk’s guest opinion piece for Welt am Sonntag – a sister publication of Politico owned by the Axel Springer Group – published in German over the weekend, was the second time this month that he has supported the Alternative for Germany, or AfD. “The Alternative for Germany (AfD) is the last spark of hope for this country,” he wrote in his translated commentary. He went on to say that the far-right party “can lead the country into a future where economic prosperity, cultural integrity and technological innovation are not just wishes, but reality”. The Tesla Motors chief executive also wrote that his investment in Germany gives him the right to comment on the country’s condition. The AfD is polling strongly, but its candidate for the top job, Alice Weidel, has no realistic chance of becoming chancellor because other parties refuse to work with the far-right party. Billionaire Mr Musk, an ally of US President-elect Donald Trump, challenged in his opinion piece the party’s public image. “The portrayal of the AfD as right-wing extremist is clearly false, considering that Alice Weidel, the party’s leader, has a same-sex partner from Sri Lanka! Does that sound like Hitler to you? Please!” Mr Musk’s commentary has led to a debate in German media over the boundaries of free speech, with the paper’s own opinion editor announcing her resignation, pointedly on Mr Musk’s social media platform, X. Eva Marie Kogel wrote: “I always enjoyed leading the opinion section of WELT and WAMS. Today an article by Elon Musk appeared in Welt am Sonntag. I handed in my resignation yesterday after it went to print.” A critical article by the future editor-in-chief of the Welt group, Jan Philipp Burgard, accompanied Mr Musk’s opinion piece. “Musk’s diagnosis is correct, but his therapeutic approach, that only the AfD can save Germany, is fatally wrong,” he wrote. Responding to a request for comment from the German Press Agency, dpa, the current editor-in-chief of the Welt group, Ulf Poschardt, and Mr Burgard – who is due to take over on January 1 – said in a joint statement that the discussion over Mr Musk’s piece was “very insightful. Democracy and journalism thrive on freedom of expression.” “This will continue to determine the compass of the ‘world’ in the future. We will develop ‘Die Welt’ even more decisively as a forum for such debates,” they wrote to dpa.As word spread Sunday that Jimmy Carter, the nation’s 39th president, had died, many in Maryland turned to social media to share their reactions. Here’s what some state leaders said: In a statement on X, Maryland Gov. Wes Moore praised Carter for receiving a Nobel Peace Prize in 2002 and his service as a naval officer before becoming the 39th President of the United States. “The First Lady and I are saddened to hear of the passing of the 39th President of the United States, Jimmy Carter,” Moore wrote. “President Carter and his work made the world a better place and his legacy will be remembered by generations.” “I join my fellow Americans in mourning the passing of President Jimmy Carter, a man of deep conviction and humility who served our nation with great distinction as President, Naval Officer, and humanitarian. President Carter dedicated his life to lifting others up— whether through his tireless work with Habitat for Humanity, his fight against disease and poverty around the world, or his commitment to peace and democracy. Yumi and I send our heartfelt condolences to the entire Carter family.” Democratic Maryland Sen. Ben Cardin called Carter a model and said he “represented the very best values that you want in elected officials. “He was a model to me that you can be honest and straightforward with the American people and you could accomplish a great deal,” Cardin said in a release Sunday. “For me personally, and as a nation, we owe a lot to Jimmy Carter.” “Today, I join Americans in honoring the life of Jimmy Carter — first as a naval officer and then as President of the United States. May he rest in peace and may the legacy of his public service continue for generations to come.” Maryland’s 6th district Rep. David Trone, who worked on Carter’s campaign in 1976 said he learned firsthand from Carter and acknowledged him for his foreign policy that accomplished things like the ratification of the Panama Canal Treaties and nuclear limitation treaty with the Soviet Union. “President Carter redefined American foreign policy. His actions saved countless lives,” Trone said in a statement Sunday. “President Carter will forever be remembered as a man who aimed to create a more peaceful world and protect our environment for future generations.” Related Articles “President Carter was one of the finest men to have ever served us as President. Honesty, decency, compassion for all. “My deepest condolences go out to the entire Carter family during this time.” “Jimmy Carter represented the best of our country. His decades of distinguished service to America and humanity leave a towering legacy of good work. Our Hearts are with the Carter family.” “President Jimmy Carter set a powerful example of what Democratic values can accomplish – strengthening Social Security, expanding healthcare, and advancing the cause of peace around the world. While his passing is a profound loss, his legacy inspires us to continue fighting for a brighter, more just future. As Democrats, let’s honor his memory by building on the progress he championed.”
WASHINGTON : The Federal Communications Commission said on Tuesday it has approved a license for T-Mobile and Elon Musk's SpaceX Starlink unit to provide supplemental coverage from space in a bid to extend internet access to remote areas. The license marks the first time the FCC has authorized a satellite operator collaborating with a wireless carrier to provide supplemental telecommunications coverage from space on some flexible-use spectrum bands allocated to terrestrial service. The partnership aims to extend the reach of wireless networks to remote areas and eliminate "dead zones." T-Mobile and SpaceX announced a partnership in 2022 and in January the first set of satellites supporting the partnership was launched into low-Earth orbit with SpaceX’s Falcon 9 rocket. "The FCC is actively promoting competition in the space economy by supporting more partnerships between terrestrial mobile carriers and satellite operators to deliver on a single network future that will put an end to mobile dead zones," said FCC Chair Jessica Rosenworcel. The satellites have direct-to-cell technology to work with T-Mobile's network to expand coverage. T-Mobile said this year that over 500,000 square miles (1.3 million square km) of the United States are unreachable by towers because of the terrain, land-use restrictions and other factors. In March, the FCC established a new regulatory framework for supplemental coverage from space to extend the reach of wireless networks to remote areas while preserving high service quality in 4G and 5G networks and preventing harmful interference. While this is the first partnership that has received agency approval, other companies have pending applications for review before the FCC. Last month, the FCC allowed SpaceX and T-Mobile to enable Starlink satellites with direct-to-cell capability to provide coverage for cellphones in areas of North Carolina hit hard by Hurricane Helene.In today’s world, only those nations thrive that know how to harness technology and use it for the development and nurturing of students at an early age. Recently, a group comprising director of education, principal, section heads and teachers of three schools visited two public-sector institutions; the Islamabad College for Girls, F-6/2, and the Islamabad Model College for Girls G-9/3. As part of the delegation, it came as a pleasant surprise to see technology in its most modern form in the hands of public-sector students. Similarly, from artificial intelligence (AI) coding, robotics, e-rozgar, smart-board-based classes, library, science laboratories and computer lab to art room, home economics sessions and sick-room, there was much that surprised the team. We felt as if we had landed in a different world. Two very confident girls of class XI recorded our interview for their podcast. Then class VII girls with their ongoing projects of robotics explained the phenomenon behind their working. Two girls from class VI in the e-rozgar auditorium explained how much beneficial it was for them and for the girls of the community to learn, start entrepreneurship, and earn a living by connecting with the world. The hall looked so impressive with a proper conference room lined with work stations, etc. At the Islamabad Model School, there was even an art gallery which earlier used to be a place to store junk. We returned with lots of ideas to replicate in our system. If the government continues to invest in education at a broader level, public institutions would earn a lot of credibility, and the students would be better able to compete with the world. SYED FARHAN BASIT RISALPUR Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );
D S Simon Media conducted a nationwide media tour in conjunction with U.S. Chamber of Commerce Foundation discussing Civics in Action: Students Compete for National Civics Bee Title in Washington. NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- On November 12 in Washington, D.C., a championship took place that wasn't about sports, spelling, or science. It's about something even more powerful: civics. Twenty-seven students, representing the hopes and futures of every American, came together in the nation's capital for the U.S. Chamber of Commerce Foundation's National Civics Bee Championship. These young champions have proven themselves through intense local and state competitions, and now they'll showcase the civics knowledge and skills that make democracy work. They competed not just for a trophy, but for the title of America's National Civics Bee Champion. More than one third of U.S. adults cannot name the three branches of government, and 79% of eighth graders score below proficient in civics. The competition aimed to inspire a new generation to be civically engaged and active in shaping the future of our communities and our nation. To date, more than 8,000 students from 110 communities across 28 states have participated, with plans to reach all 50 states by 2026. For more information, visit https://nationalcivicsbee.com/ About YourUpdateTV: YourUpdateTV is a property of D S Simon Media. The video included and release was part of a media tour that was produced by D S Simon Media on behalf of U.S. Chamber of Commerce Foundation. Dante Muccigrosso Director of Media Integration & Client Reporting E: dantem@dssimon.com C: 973.524.0104 A video accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/1b7552dd-af3c-4576-bc71-98576dbba351 © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.The Gross Law Firm Notifies Terran Orbital Corporation Investors of a Class Action Lawsuit and ...HEXstream and Oracle Optimizing Oracle Energy and Water Data Intelligence
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