China’s super wealthy couples are turning to divorce as a way to cash out stock and avoid tough sales restrictions. A slew of high-profile splits—nicknamed “sky-high divorces” because they are tied to high stock prices—have made the news recently, with massive quantities of stock changing hands in divorce settlements. Analysts say corporate shareholders are employing…
Judge Throws out Shareholder Lawsuit Against Elon Musk Over Twitter Buyout
May 23, 2023
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A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion. In a decision on Monday, U.S. District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked standing to sue because he…
Tesla CEO Elon Musk Faces Trial in Shareholder Case Over Tweets in 2018
January 18, 2023
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A trial is set to start over a class-action lawsuit regarding whether Tesla CEO Elon Musk knowingly misled investors by claiming that funding was “secured” to take the company private in 2018. After closing the deal to purchase Twitter in October 2022, the Tesla CEO now has to face his earlier statements on the same social…
How Share Buybacks Benefit Investors
By Kiplinger Staff From Kiplinger’s Personal Finance Question: What are share buybacks? And as an investor, should I be glad about share buybacks or not? Answer: Companies have at their disposal two main options when they want to return cash to shareholders. Dividends tend to be preferred by income investors. A dividend is a cash…
At NatCon, a Populist–Libertarian Clash on ESG Investment
September 12, 2022
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It’s no surprise that the environmental, social, and governance (ESG) investment movement was a topic at the third National Conservatism Conference in greater Miami. Experts on a Sept. 11 ESG panel wondered aloud whether the letters actually stand for “evil, stupidity, and grift.” “It’s probably all three, by the way,” said Justin Danhof of Strive…
Europe’s Planned Rival to Visa and Mastercard Appeals for Public Funding
LONDON—A planned pan-European payments network backed by 22 banks to compete with U.S. duo Mastercard and Visa appealed on Tuesday for public money, saying its private backers were not prepared to stump up all the cash needed. The European Payments Initiative (EPI) was launched last year and is seeking to get more banks and other…
ISS Urges Tesla Investors Not to Reelect James Murdoch, Kimbal Musk
Proxy advisory firm Institutional Shareholder Services (ISS) is recommending that Tesla investors not reelect directors James Murdoch and Kimbal Musk because the board approved excessive compensation packages to non-executive board members. Tesla shareholders will cast ballots on Oct. 7 on cutting director terms to two years, eliminating a supermajority vote requirement to approve certain changes,…
US Company Executives Rate Home Country as Top Stakeholder: Survey
A global pandemic, supply chain shocks, and rising geopolitical tensions has elevated the importance of national security for business leaders. A new survey showed that company executives in the United States rate home country as a top stakeholder, placing it above shareholders and customers. The day when the companies fixated only on creating long-term value…
French Energy Giant Total Stops Payments on Burma Pipeline
BANGKOK—Shareholders of the French energy company Total have voted to suspend payments of dividends to stakeholders in the joint venture company running a gas pipeline in Burma, the company said Wednesday. Pressure has been growing on companies with investments or operations linked to the Burma (also known as Myanmar) military to suspend any financial support following…
Battle for Orange County’s CoreLogic Leads to Private Equity Takeover
February 8, 2021
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Commentary Irvine-based CoreLogic Inc. (NYSE: CLGX) is being purchased by two private equity funds for about $7.7 billion, a figure that includes about $6 billion—or $80 per share—buyout for current stakeholders. The purchase price also includes $1.7 billion in debt owed by CoreLogic. The acquisition will be funded with $2.5 billion already invested in the…
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