CalPERS CEO Marcie Frost on voting against Exxon Mobil board and Elon Musk's pay package

[@youtubest5165]

These people are sooooooo insanely greedy, you voted yes and agreed to pay him then and now deciding to vote no ?

[@thesadboxman]

When Marcie Frost retires, I hope pensioners sue her for her salary earned due to the poor performance of CalPERS. Seems like good karma.

[@RajDeelish]

That's not an identical comparison.

[@thesadboxman]

@@RajDeelish no it's not but it would be karmic

[@didier_777]

She's basically saying it's too much money and if the judge is willing to give us a hand we are going to screw him over. All while shooting myself in the foot because as soon as we vote no Tesla stock is going to drop 30%. Maybe they are shorting the stock on the back end and hoping it will drop.

[@eyes232]

Imagine if their shares would be valued now, at 2018 point... She would cry hard

[@RajDeelish]

You have it backwards. Voting yes will ultimately tank the stock because the Tesla the company is paying.

[@didier_777]

​@@RajDeelish He's going to get paid in shares of the company which he can't sell for 5 years. The shares were already allocated so they don't need to be issued. This is as if you work for 5 years and do a really good job and your boss says no I'm not going to pay you what we agreed it's too much money.

[@barracudachaser]

Not paying somebody for services delivered is criminal.

[@chineseforextraderjay5352]

"Spike in performance" Did Tesla suddenly go back to 2018 market cap or what?

[@dhootparm]

I know CalSTRS ($332B) was strongly against in 2018 and typically CalPERS ($499B) and CalSTRS are in lockstep of each other they are like 1.3 miles apart in Sacramento and people move back and forth between these two and they are both California State Pension funds.

[@PelosiStockPortfolio]

Using other people's retirement pension/savings to advance a political opinion should be illegal. Why doesn't CalPers split their votes based on their pensioner's preferences?

[@gothicserpent]

$TSLA will get the pay package ratified. Despite the odd positions. #VotedTesla24

[@kenzaifun]

i really hope so. Didn't she vote for it in 2018 ?

[@gothicserpent]

@@kenzaifun Retail will chip in. Retail base is stronger this time around, and the chance of the pay package failing is around 1-5%

[@kenzaifun]

Good point. But how do u calculate 1 to 5 pct ?​@@gothicserpent

[@dhootparm]

@@kenzaifun I know CalSTRS ($332B) the sister fund to CalPERS ($499B) was against in 2018, I think CalPERS might have been too.

[@christophercarrigg3775]

I wonder how she would react if the same thing happened with her pay

[@brunomanco7529]

Shouldnt that "ceo" made a poll to the pensioners? And shouldnt 99.9% of calpers staff be dismissed and funds invested 50% sp500 and 50% 5 year treasuries etf ?

[@weezilla]

"Not factoring in the court issue". You can't just ignore the court issue. That's the whole reason it's up for vote again. And she said they supported the vote in 2018. She's just side stepping the ethical dilemma of skipping pay. It's activist.

[@ravindhuweerakkody8821]

Disgusting

[@JayEs31]

Wow that’s shocking her comments that makes no sense. Shame on CalPers

[@DONKALLSONG]

I would understand if you recently invested into Tesla, but since 2018..

[@mygicshow]

Ha ha he just melted her face off with the Tesla questions, nice to see CNBC stand up for Elon for once!

[@MKilmer-e9y]

At 9:06 She knows what she is saying is so bs that she laughs when she says it .

[@andynicolashuang97]

Remember this

[@vincentorlando6767]

15% to private equity, that's very risky?? I'm also assuming that includes venture capital? Eitherway, the initial returns projected by Private equity and VC's are 16% to 35% or more, but when the fund closes, they usually make as much or less than the 500 index.

[@HashsirHaroon1]

No one will do business with do business with this flipfloper

[@harrychu650]

Gavin Newsom needs to reel this girl back in or replace her with someone who can act as a fiduciary.

[@jkrupman]

I would bet anything that the DNC pressured Newsom to pressure her to vote against Elon. It will no doubt backfire on DNC

[@richtanner7397]

CalPERS is only able to meet 72% percent of each dollar it has promised to it's retirees. They have to find $162 BILLION to cover this gap or CA taxpayers will be on the hook: that's $4000.000 each person! Marcie Frost ought to be fired and CalPERS must find a replacement who is more financially skilled. A.Soon.As.Possible.

[@dayabagdure4471]

How can she be a CEO and talk about “going back to the board”. Guys this is the person in charge of your pension.

[@RajDeelish]

She's not doing the right thing by law, but she is doing thie right thing for the pension. Tesla is going to tank by fulfilling the obligation.

[@jallen1227]

The state of California should not guarantee an ROI on pensions to which the investment advisors at CalPERS never achieve, therefore, the state has to step in and pay pension fees through taxes.

[@SteveTaylor-l9q]

Time for some good investigative reporting on the Elon pay package issue. None of it makes sense. There is a RAT in the wood pile here.

[@bhimgrg05]

Disgusting. Elon worked at is butt off. What she did? nothing. If elon doesn't get paid he should just abandon Tesla. Let it go down the drain then only these people will understand what they did.

[@intimidate2161]

Who cares about him, Tesla is too big to fail. Someone else will just take over. At the very least it will become a regular car company. Nothing wrong with that.

[@ArturoGarzaID]

Elon is a loser

[@RajDeelish]

Tesla is going to tank anyways now that it needs to pay this obligation.

[@bhimgrg05]

@@RajDeelish it’s stock compensation not cash.

[@joesmith3590]

This is why California is dying. DEI hires

[@Shebbie68]

LMAO- the host called giving Elon Musk 54 billion an "opportunity then tries to paint that bias over. Perhaps the host should actually read the court's ruling as it is obvious he has not. The BOD did not do their fiduciary duty to the shareholders and rubberstamped everything Elon demanded with no negotiation. The host will probably break down and cry later today when he reads the new ruling.

[@wisemanofsorts6068]

The main point of the judges ruling was that shareholders were misled in this process. We can argue about how good the governance was, but that is irrelevant. The legal question is if shareholders understood what the deal was about and why it was proposed. Arguing that shsreholders were misled is a much harder argument to make. That is the point the host was making.

[@didier_777]

​@@VincentKarabouladMusique It was an insane bet by Elon and he pulled it off that's why the comp seems high, but it's only high because he delivered on it. The compensation of NVIDIA CEO is comparable and nobody complains about that.

[@didier_777]

This is government overreach of the highest magnitude.

[@Shebbie68]

@@wisemanofsorts6068 The shareholders were not give that information so there is no way they could have even determined they were misled. The reason Tesla lost the case is laid out. Bottom line, the BOD did not even determine how much time he had to spend at the company for said compensation. They ignored that his vast hold of stock was incentivizing enough. The BOD also hid from the stockholders that they were going to likely make the goals whether they gave Elon Musk the package or not and did not disclose that to the shareholders. The host called this an OPPORTUNITY to pay the worst CEO on the S&P 500 the highest compensation package ever, surpassing on one other compensation package which was Elon's first compensation package. It's his personal piggy bank. First money in, last money out? How'd that work out for shareholders.?

[@georgedurrant1766]

@@VincentKarabouladMusique How do you get more favourable than a pay package that exceeds all the profit the company has ever generated? Pick a metric. It's all atrocious, and that is the value of your investment. The stock is being held up - at less than half the ATH - by a high PE based on the promise of what the company MIGHT deliver. Elon is threatening to take that away if you do not give him another pay package to cover the shares he sold for Twitter.

[@svenhodaka9145]

My lord. Exxon and Tesla are two of the best performers in the last 4 years. CalPers needs to get out of the way and stay in their own lane. CalPers you are a pain in the a$$! Ridiculous.

[@eyes232]

Musk should bring the shares value back to 2018,lets go.

[@pjb111]

She has no degree?!?

[@Agent77X]

It is about time the government focus on Elon Musk! He is going to be getting the same treatment as Trump!😊 Delaware was the beginnings of this!😊

[@sam8307]

+Agent77X What has Elon Musk done to deserve 'the government to focus on him'?

[@Agent77X]

@@sam8307 Musk turned Twitter into a free speech social media! Before it was the DNC main content propaganda website!😊

[@brianmangan15]

Totally unprincipled and opportunistic snake move from her. He 10x their investment

[@ArturoGarzaID]

He lied about everything

[@SirWilliamBaloney]

Musk should abandon Tesla with a middle finger.

[@rebelinthef.d.g.7245]

He already did pretty much.

[@chakmiss]

He can’t, Tesla is his baby, he put half his money from PayPal, almost went bankrupt twice, worked his ass of to the extreme sleeping in the factory floor to get it where it is now. You can just raise a child then just abandon it. Or maybe he can if he knows the future of Tesla will be bright without him. But how ungrateful investors have to be, man I would probably loose hope too.