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WSJ What’s News

Musk Pay Victory Sets Up Court Battle

WSJ What’s News

The Wall Street Journal

News, Daily News

4.14.2K Ratings

🗓️ 14 June 2024

⏱️ 15 minutes

🧾️ Download transcript

Summary

A.M. Edition for June 14. Elon Musk has won shareholders’ backing for his Tesla pay package, but that’s unlikely to put the issue to rest. Plus, with Gaza cease-fire talks at an impasse, the WSJ’s Rory Jones goes over the correspondence from Hamas’s military chief and the brutal calculation it reveals. And, Donald Trump floats a new idea for collecting federal revenue: all tariffs, no income tax. Luke Vargas hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:20.0

After winning shareholders backing for Elon Musk's pay package, Tesla now needs to persuade a

0:26.4

Delaware judge. Plus Donald Trump floats the idea of relying on tariffs to collect federal revenue.

0:33.6

And with ceasefire talks at an impasse,

0:36.3

we'll look at the messages sent by Hamas's military leader

0:39.6

in Gaza and what they reveal about his strategy. Hamas is trying to demonstrate that it can just survive and by surviving it beats Israel.

0:48.0

It's Friday June 14th.

0:50.0

I'm Luke Vargas for the Wall Street Journal and here is the AM edition of What's News?

0:55.4

The top headlines and business stories moving your world today. A day after Tesla shareholders voted to reinstate a multi-billion dollar pay package for CEO

1:09.8

Elon Musk, attention is now turning to how the matter will play out in court.

1:15.5

That's because it was a Delaware judge that initially overturned the pay package, finding

1:20.3

the Tesla's board was conflicted when negotiating it, and it will be a Delaware judge

1:25.1

again that will now need to be convinced to change her ruling.

1:29.2

Stephen Wilmot is an editor of the Wall Street journals Heard on the street column, and he said that while some

1:34.0

legal questions remain unanswered, Musk is more likely now to end up with his options, especially

1:39.4

given that investors have the added knowledge of how much those options are worth.

1:44.0

But that doesn't mean questions around how Musk runs Tesla are fully settled.

1:49.0

Well, I mean, it's clear that not everyone is fully on board, particularly institutional investors,

...

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