A Delaware judge ruled Monday that a Tesla shareholder vote endorsing a $56 billion pay package for Elon Musk does not change her original ruling invalidating the compensation plan.
Why it matters: Chancellor Kathaleen McCormick dismissed the compensation deal in January, saying Musk had failed to prove it was fair and properly disclosed to shareholders when it was first announced in 2018.
Speaking of companies wracked by strategic missteps, Stellantis' stock slump continued today after the sudden exit of CEO Carlos Tavares.
Still considered by some to be part of the "Detroit Three" automakers — due to its ownership of American brands Jeep, Dodge, Ram and Chrysler — Stellantis risks falling further behind its global rivals without clear leadership.
Catch up quick: Tavares was highly regarded for his efficient leadership in the European auto industry when he took the job in 2021, after Fiat Chrysler and Peugeot's owner merged to become Stellantis.
Enron, the company synonymous with early 2000s corporate malfeasance, is back — but as what is anyone's guess.
Why it matters: The company's statement, issued Monday, says it's "dedicated to solving the global energy crisis," complete with a flashy new website and social media accounts. But there are signs something else is afoot.
General Motors is selling its stake in a new battery plant that was built with government incentives.
Why it matters: GM partners with South Korean battery giant LG Energy Solution through a joint venture called Ultium Cells, which currently produces batteries at factories in Warren, Ohio and Spring Hill, Tennessee.
Cyber Monday is only 19 years old — it was created in 2005 by the National Retail Federation — but already it feels almost incomprehensibly anachronistic.
The big picture: Cyber Monday was an attempt by e-commerce companies to piggyback on the Black Friday shopping frenzy, which at the time was overwhelmingly an in-person affair.
The time is nigh: Soon enough, nearly every Instagram story you see will be of friends' Spotify Wrapped results.
The big picture: So charge your headphones, listen to your favorite artist a few more times, and, as Spotify is encouraging, ensure your app is up to date.
Elon Musk on Friday filed for a preliminary injunction to stop OpenAI from transitioning into a for-profit entity, arguing that OpenAI might otherwise "lack sufficient funds" were the court to eventually rule in Musk's favor.
Why it matters: OpenAI told investors in its recent $6.6 billion funding round that they could get their money back, upon request, if the structural switch isn't completed within two years.
Scrolling through silly or nonsensical social media posts can have an unofficial side effect: "brain rot."
Why it matters: It's a phrase Oxford University Press said "gained new prominence in 2024" — so much so that Oxford dubbed the term its word of the year.
Former Fox News host Gretchen Carlson's advocacy group is launching a new corporate scorecard to shine a light on the secretive practices companies use to silence workers about sexual harassment and discrimination.
Why it matters: The idea behind the Lift Our Voices scoring system is to track employers' use of nondisclosure agreements (NDAs) and forced arbitration (secret courts outside the public system) — similar to how other surveys examine benefits like health insurance or paid leave.
Stellantis chief executive Carlos Tavares resigned "with immediate effect" on Sunday, the maker of Jeep and Ram vehicles announced.
The big picture: The Italian-U.S. auto maker had faced a sales slump and Stellantis' senior independent director Henri de Castries said in a statement that "in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today's decision."
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