Aug 11, 2017

Uber board "disappointed" in Benchmark dispute with Kalanick

The rest of Uber's board is not happy that Uber investor (and board seat holder) Benchmark filed a lawsuit against Travis Kalanick, the company's former CEO, alleging he deceived the board when he made a move to gain control over more seats.

The Board of Directors is disappointed that a disagreement between shareholders has resulted in litigation. The Board has urged both parties to resolve the matter cooperatively and quickly, and the Board is taking steps to facilitate that process. At a time when thousands of employees around the world are working hard to serve our drivers and riders and continue to innovate, our priority remains to select Uber's new CEO as quickly as possible. We are fortunate to have several outstanding candidates who share our belief in Uber's great future.
Yasir Al-Rumayyan, Garrett Camp, Ryan Graves, Arianna Huffington, Wan Ling Martello, & David Trujillo

Why it matters: Now Uber is likely looking at a civil war on its board while it's trying to hire a CEO and keep the company going

Backstory: Last year, Kalanick convinced the rest of the board to let him appoint three more board members. After he was pressured to resign as Uber's CEO in June, he appointed himself to one but now refuses to let other members approve his next appointments as he had originally agreed. Benchmark is alleging that Kalanick hid information about inappropriate and potentially illegal activities at the company from board members, and wants him completely out. A few other investors now want Benchmark out (of course).

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Cuomo says New York is "literally going day-to-day with our supplies"

New York Gov. Andrew Cuomo said in a press conference on Sunday that New York is struggling to maintain medical supplies while combatting the novel coronavirus — operating "literally" on a "day-to-day" basis.

Why it matters: New York City has become an epicenter of the coronavirus outbreak, facing mass quarantines and stay-at-home orders. Cuomo said Saturday that New York reported 630 new deaths in 24 hours — an "all-time increase" that beat the previous day's record of 562 deaths.

Illinois governor: "The president does not understand the word 'federal'"

Illinois Gov. J.B. Pritzker said on CNN's "State of the Union" Sunday that President Trump's comments about the federal government's stockpile of medical equipment suggest he "does not understand the word 'federal.'"

Why it matters: White House adviser Jared Kushner argued at a press briefing last week that the "notion of the federal stockpile was it’s supposed to be our stockpile; it’s not supposed to be state stockpiles that they then use."