Does the truth prevail in business? | CBC News

Tesla James Alexander Michie

In business, finding out what's true is more valuable than ever: Don Pittis

Author: James Alexander Michie

It is important to know if something is true in the business world, but for no one is a secret that although it is of great importance the truth in that world can be measured with cash.

Elon Musk, head of Tesla, announced that he expects to organize a repurchase of all the shares of the company and, without a doubt, everyone was waiting to see if it was true or false. Likewise, he shook everyone with only 61 characters. At the time Tesla’s boss and several shareholders were increasing the costs of the shares, investors who were betting the shares would lose approximately $ 1.7 billion. In fact, it is considered that Musk was manipulating the market price of its shares, meanwhile, the SEC of the United States makes investigations to verify if the content of the tweets of Musk was true or false and of course the check if Tesla would really take Tesla private.

Everything indicates that Musk has considered taking Tesla privately and that it has also been a subject that has already been discussed with its board of directors, however, there are those who doubt specifically the “Secured financing” that is observed in the tweet. Despite this, if the manipulation of the market is true, the US Securities and Exchange Commission could intervene and give a final ruling, meanwhile, the SEC continues investigations to confirm the information of the tweets.

On the other hand, Harvey Pitt, who is a former director of the SEC, said that Musk could be accused if in any case it is confirmed that he tried to manipulate the price of the shares since he has assured that there is a source of funding in addition. of a specific amount of funds, which is expected to be true since if it turns out to be false would be accused of serious manipulation or fraud.

Musk is not the only one that is news because on the other hand there is also Paul Manafort who may be accused of spreading direct lies. Also joins the list Alex Jones, who was also expelled from Spotify, Facebook, YouTube, and Apple.

Although in the business world more and more cases arise in which it is questioned whether everything is fair and the truth is applied in each of the businesses that are carried out, meanwhile we just have to wait for it to be demonstrated do not be otherwise.

Take a read: https://www.cbc.ca/news/business/truth-business-tesla-1.4777435

Source: Don Pittis | CBC News

 


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