A CEOs only job, with rare exceptions, is to keep their job. And the way you keep your job is make the board loyal to you. And the way to keep them loyal to you is to pay them a shit load of money for not much work. An actually independent board member is a very bad thing for a CEO, so boards are deliberately stacked with yes men and women who often derive most of their income from being on boards. Is someone making $200k a year for 4 meetings, plus stock often in the millions, who isn’t independently super rich, ever going to question the CEO? Lol.
Here is the board that approves objectively awful CEO David Zaslav’s pay. Take a look at the “independent” directors. Not a single actual titan to be found:
The National Retail Federation said that retailers’ losses, known as shrink, increased 19% last year to $112 billion, based on a survey of 177 retailers.
Peter absolutely goes to town on them in the IBCK ep, they’re a bunch of clowns and somehow the media reports what they say like it’s serious.
Tingo earnings are 8:00 Tuesday. I’m expecting more fake numbers that will pump the stonk, at which point I’ll re-short if possible. I’ll even buy a few shares before then, which I didn’t think of until typing this post. I often forget that the Buy button isn’t just for covering shorts!
the public interest and the protection of investors require a suspension in the trading of the securities of Tingo Group, Inc
Halted since 4am, <24hr after I bought. My plan was to sell almost immediately after earnings (released at 7am). Given the miss, I probably woulda had to sell for a loss, maybe 15% or so, but now it appears I’m locked into -100% lol. There go my previous gains from shorting it.
