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My Letter to sujeet.indap@ft.com of the Financial Times
RE: “Tesla shareholders will have no one to blame if things go south” | FT Headline
You say: “Musk is being treated better than any CEO in history”. I respond that’s because he’s better than any CEO in history. IMO the most consequential entrepreneur of the last century+.
Your hit-piece makes:
- No mention of the fact that Musk’s 2018 compensation package included very tough-to meet-hurdles on EBITDA and Sales growth. Which at the time people said he would never meet — in which case he would have got nothing. Zero. But he did meet them. As probably no other CEO could have done. And which enriched everyone. What’s the matter? Should success be punished now?
- No mention of the fact that the case was brought by a single shareholder with only five shares. Suspicious, much?
- No mention that the lawyers for the plaintiffs are claiming fees of $Billions in TSLA shares, which only hurts TSLA and its shareholders. This, despite the shareholders rejecting the case brought by the plaintiffs via that legal firm. How can this be right?
- No mention that TSLA shares have solidly outperformed all major indexes and other majors companies since 2018 (and more so since inception). You only mention that share price has dropped this year (as has every other car company becoz overall market softness).
My points above are an indictment of your poor, sloppy and clearly-biased piece of so-called “journalism”, in a paper we’re supposed to treat with respect.Well, no, I do not treat you or your paper with respect. I give Financial Times zero respect for this piece of blatant propaganda masquerading as journalism.Yours, etc... PF
