BlackRock voted for proposal to replace Tesla’s Musk with independent chairman

https://reuters.com/article/BigStory12/idUSKCN1LG01R

by kgwgk • 8 years ago

21 28 8 years ago

fsniper3• 8 years ago

Isn't the title misleading? Article says there have been a vote, but the result was against removing him. Title leads you to believe that motion was accepted.

hspak• 8 years ago

It sounds pretty neutral to me.

pvg5• 8 years ago

It just says how BlackRock voted, nothing about the outcome.

sincerely• 8 years ago

Doesn't "voted to x" imply that x was the result of the vote?

fsniper3• 8 years ago

I think it has been changed. It didn't involve Blackrock when I commented.

mirimir4• 8 years ago

Yes. Especially because ...

More than 86 million shares voted against the proposal at a shareholder meeting in June, while fewer than 17 million voted in favor, Tesla said.

... and ...

BlackRock funds are a top-10 Tesla stockholder, controlling nearly 6.5 million of Tesla’s 170 million shares, according to Thomson Reuters data based on public filings.

So who cares how BlackRock voted?

pvg5• 8 years ago

That might make it an uninteresting story but not a misleading title.

saas_co_de• 8 years ago

BlackRock is today the world's largest asset manager with $6.3 trillion in assets under management

https://en.wikipedia.org/wiki/BlackRock

I think a lot of people would consider how BlackRock voted to be newsworthy and follow their lead based on their size and expertise.

peteretep• 8 years ago

I didn't read it like you did, fwiw

Tomte• 8 years ago

No. The title says clearly that one voter voted against Musk.

Additionally, it's clear the vote went the other way, because otherwise the headline would have been very different.

TorKlingberg• 8 years ago

As Charmain, not as CEO. Many companies have the Great Leader as CEO and somebody else as chairman, for all kinds of reasons.

TangoTrotFox• 8 years ago

I was going to say this headline seems geared to mislead. But really it's the existence of the article itself.

Apparently there was a recent vote about replacing Musk as chairman. The vote was overwhelmingly defeated with more than 83% voting to keep Musk. Instead of running an article on this Reuters seemingly chose to run an article highlighting a seemingly random minority holder voting for the replacement, with the result mentioned as a numeric aside. This feels like Spin.

dagw2• 8 years ago

BlackRock is far from a "seemingly random minority holder". They are the largest asset manager in world, with by all accounts has more assets under management than the 10 biggest sovereign wealth funds combined.

singularity2001• 8 years ago

Look at Apple to see how ousting the (genius) founder worked out in 1984. Stupid BlackRock, good their proposal was dismissed.

dagw2• 8 years ago

The vote had nothing to do with ousting Musk. He would have remained CEO no matter what.

cmmartin• 8 years ago

Seriously misleading headline. They didn't vote to replace him at all. They voted to add another executive (A COO). He would have remained CEO. Also, the vote failed.

rdl• 8 years ago

Fuck BlackRock. Aside from their weird anti-2A politics (maybe driven by their fund managers, maybe driven by LPs), now they are trying to kill Tesla?

(Driving Musk out as chairman might not itself cause serious problems, but it could also be a prelude to replacing him, which would be the end of Tesla.). It is pretty telling that their vote was at variance to most of the other institutions.

BlackRock voted for proposal to replace Tesla’s Musk with independent chairman

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