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    1. Tesla's Board is So Bad at its Job, it Failed at the One Thing it Says is Paramount — Protecting CEO Elon Musk

      Tesla's Board is So Bad at its Job, it Failed at the One Thing it Says is Paramount — Protecting CEO Elon Musk
      • Tesla's board has repeatedly made clear that it sees its duty as ensuring that Elon Musk remain in a leadership role at the company — not representing shareholders' interests.
      • But Musk's role at Tesla is now in jeopardy, thanks to charges filed against him by the Securities and Exchange Commission in connection with his series of tweets about potentially taking Tesla private.
      • The SEC is seeking to bar him from serving as a director or officer at a public company...
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    2. Azealia Banks Reveals Why She Thinks Elon Musk was Right to Settle with the SEC and Who Tesla Should Tap as its New Chairman

      Azealia Banks Reveals Why She Thinks Elon Musk was Right to Settle with the SEC and Who Tesla Should Tap as its New Chairman
      • Azealia Banks tells Business Insider that she is "proud" of Elon Musk's decision to settle with the SEC, paying a $20 million fine and agreeing to step down as chairman.
      • Many theorized that Banks would have testified in the SEC investigation, had Musk not settled, and the rapper said she had already been planning courtroom outfits.
      • "I would have walked up in that courtroom looking like a pussycat," Banks said...
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    3. Pfizer's Long-Serving CEO Ian Read is Standing Down and Being Replaced by his Chief Operating Officer

      Pfizer's Long-Serving CEO Ian Read is Standing Down and Being Replaced by his Chief Operating Officer
      • Pfizer announces that CEO Ian Read will stand down from the start of 2019.
      • He will be replaced by Dr. Albert Bourla, who is currently Pfizer's chief operating officer.
      • "It’s been an honor to serve as Pfizer’s CEO for the past eight years," Read said in a statement.

      Ian Read, the long-serving chief executive officer of pharmaceutical giant Pfizer is set to step down, the company announced on Monday...

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    4. Tesla is Soaring after Elon Musk Settles with the SEC

      Tesla is Soaring after Elon Musk Settles with the SEC
      • Tesla shares were up more than 15% early Monday on the news Tesla CEO Elon Musk had settled fraud charges with the US Securities and Exchange Commission.
      • Musk will neither admit nor deny the allegations, including that he knowingly misled the public, and he has agreed to step down as Tesla's chairman for at least the next three years. Both Musk and Tesla will also pay $20 million fines...
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      Mentions: SEC Tesla lawsuit
    5. Breaking News: General Electric CEO John Flannery is Out

      Breaking News:  General Electric CEO John Flannery is Out

      General Electric head John Flannery is out after just more than a year at the top of the company. He will be replaced as chairman and CEO by  H. Lawrence Culp, Jr.

      GE said it will take a $23 billion goodwill charge for its power business. It also warned that it will miss its 2018 earnings-per-share gudiance.

      GE shares are up more than 10% on the news...

       

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    6. Here's What Legal Experts are Saying About the SEC's Decision to Sue Elon Musk (TSLA)

      Here's What Legal Experts are Saying About the SEC's Decision to Sue Elon Musk (TSLA)
      • The SEC filed a lawsuit against Tesla CEO Elon Musk on Thursday, alleging that Musk made "false and misleading statements" in August about taking the automaker private.
      • Musk said he was "deeply saddened and disappointed" by the lawsuit, which he called "unjustified," in a company statement to Business Insider.
      • Three legal experts weighed in on the matter...
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      Mentions: SEC Tesla lawsuit
    7. A Former SEC Lawyer Says the Agency Shouldn't Have Sued Elon Musk

      A Former SEC Lawyer Says the Agency Shouldn't Have Sued Elon Musk
      • The SEC sued Tesla CEO Elon Musk on Thursday, saying he made "false and misleading" statements in August about possibly taking Tesla private.
      • Former SEC senior counsel Thomas Gorman told Business Insider he disagreed with the agency's decision.
      • While Musk's statements weren't smart from a business perspective, that doesn't necessarily mean he committed fraud, Gorman said...
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    8. A Former SEC Chairman Outlined the Worst Case Scenario for Elon Musk now that the SEC has Sued Him

      A Former SEC Chairman Outlined the Worst Case Scenario for Elon Musk now that the SEC has Sued Him
      • The former SEC chairman Harvey Pitt told Business Insider in August that Tesla CEO Elon Musk could be banned from serving as an officer or director of a public company after reports that the agency was investigating his comments about taking Tesla private.
      • But the SEC's lawsuit is not the only potential threat to Musk.
      • Bloomberg reported earlier this month that the Department of Justice has opened an inquiry into Tesla, which could ultimately result in a prison sentence for Musk...
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      Mentions: SEC Twitter Tesla
    9. David Solomon Said at a Private Dinner that he’s going to Follow his Own Advice as CEO of Goldman Sachs — and it Means the Board's Due for a Refresh

      David Solomon Said at a Private Dinner that he’s going to Follow his Own Advice as CEO of Goldman Sachs — and it Means the Board's Due for a Refresh
      • Incoming Goldman Sachs president David Solomon will begin reshaping the bank's board of directors in the coming months.
      • Solomon discussed his plans at a September 13 dinner hosted by Barclays and attended by some of the firm's biggest investors.
      • Solomon wouldn't be the first executive to push for board changes after taking control, a practice that's common across corporate America, even if it raises the ire of corporate governance experts...
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    10. Merck's Board Just Changed the Rules to Keep its CEO on Board After he Turns 65

      Merck's Board Just Changed the Rules to Keep its CEO on Board After he Turns 65
      • Merck CEO Kenneth Frazier plans to stay on in his role as CEO past December 2019, when he turns 65.
      • The pharma giant's board of directors had to overturn a mandatory CEO retirement policy in order for Frazier to stay on.
      • Frazier, who became CEO in 2011, gained national attention after he was the first to depart President Donald Trump now-disbanded manufacturing council...
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      Mentions: Harvard retire Merck
    11. A Crazy Final Week of September has Already Seen Mergers Worth $60 Billion

      A Crazy Final Week of September has Already Seen Mergers Worth $60 Billion
      • September has seen a flurry of activity in mergers and acquisitions with four major deals announced over the past week.
      • Comcast won a bidding war for Sky, miner Randgold Resources was bought by Barrick Gold, Michael Kors picked up Versace, and Pandora was purchased by Sirius XM.
      • The combined deals are worth more than $60 billion.
      • "September can always be a big month for deals," Ben Kelly, a merger arbitrage analyst at Louis Capital, told Business Insider on Tuesday...
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    12. Breaking News: Michael Kors Agrees to Buy Versace

      Breaking News:  Michael Kors Agrees to Buy Versace
      • Michael Kors has agreed to buy the Italian fashion house Versace.
      • The deal has an enterprise value of 1.83 billion euros ($2.12 billion).
      • Michael Kors will change its name to Capri Holdings once the deal closes.
      • Watch Michael Kors trade in real time here.

      Michael Kors has agreed to buy the Italian fashion house Versace in a deal that has an enterprise value of 1.83 billion euros ($2.12 billion). The global fashion luxury group also announced it will change its name to Capri Holdings...

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    13. Sirius XM Agrees to Pay $3.5 Billion in Stock for Pandora to Create the World's Largest Audio-Entertainment Company

      Sirius XM Agrees to Pay $3.5 Billion in Stock for Pandora to Create the World's Largest Audio-Entertainment Company
      • Sirius XM has agreed to pay $3.5 billion for Pandora in an all-stock transaction.
      • The deal has an implied price of $10.14 a share, and includes a "go-shop" provision.
      • Watch Sirius XM and Pandora trade in real time.

      Sirius XM Holdings will acquire Pandora for $3.5 billion in an all-stock transaction, creating the world's largest audio-entertainment company, the two sides announced Monday...

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      Mentions: Pandora CEO
    14. Mattress Firm Says its Own Former Executives Accepted Private-Jet Trips, Expensive Watches, and Luxurious Hotel Stays From Brokers in Exchange for Opening so Many New Stores it Spurred Conspiracy Theories

      Mattress Firm Says its Own Former Executives Accepted Private-Jet Trips, Expensive Watches, and Luxurious Hotel Stays From Brokers in Exchange for Opening so Many New Stores it Spurred Conspiracy Theories
      • Mattress Firm is frequently accused of having too many stores in the United States. But there may be more to that story than first meets the eye.
      • In October 2017, Mattress Firm filed a lawsuit against two of its former employees, a broker, and a group of developers, claiming that they conspired to push the company to aggressively expand...
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    15. The CEO of Denmark's Biggest Bank is Out After a Money Laundering Scandal that May Have involved up to $235 Billion of Payments

      The CEO of Denmark's Biggest Bank is Out After a Money Laundering Scandal that May Have involved up to $235 Billion of Payments
      • CEO of Denmark's largest bank steps down over Estonian money laundering scandal.
      • Thomas Borgen resigned after an investigation into the scandal which could have impacted €200 billion ($234 billion) of transactions.
      • Danske Bank has so far identified 6,200 customers who may have been involved in suspicious activity, undertaken via its Estonian branch...
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      Mentions: risk resign Bank
    16. Oracle only grew 1% last quarter, and Wall Street is starting to question whether management is up to the job (ORCL)

      Oracle only grew 1% last quarter, and Wall Street is starting to question whether management is up to the job (ORCL)
      • Wall Street analysts had a bone to pick with Oracle in notes to their clients published Tuesday, following mixed results in Oracle's first quarter FY2019 earnings on Monday.
      • Goldman Sachs lowered its price target for the database giant, while others questioned whether management is up to the task of reigniting growth.
      • Oracle reported revenue growth of just 1% year-over-year, leaving some on Wall Street feeling that transformation at the company "continues to take longer than hoped."...
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    17. MoviePass' Parent Company Wants Approval for a Dramatic Reverse Stock Split of up to 1-for-500, just Months after its 1-for-250 one Failed to Stabilize the Stock

      MoviePass' Parent Company Wants Approval for a Dramatic Reverse Stock Split of up to 1-for-500, just Months after its 1-for-250 one Failed to Stabilize the Stock
      • MoviePass' parent company, Helios and Matheson Analytics, will propose a reverse stock split of up to 1-for-500 to its shareholders in a special meeting next month.
      • It's the latest attempt by the struggling movie-ticket subscription service to not have the HMNY stock be delisted by the Nasdaq in mid-December.

      Next month, MoviePass will try its most dramatic step yet to revive its failing stock...

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      Mentions: Nasdaq risk MoviePass
    18. Tyson Foods CEO Tom Hayes is Stepping Down for Personal Reasons

      Tyson Foods CEO Tom Hayes is Stepping Down for Personal Reasons
      • Tyson Foods CEO Tom Hayes is stepping down, with veteran leader Noel White succeeding his role, the company announced Monday.
      • The company reiterated his adjusted earnings-per-share guidance for fiscal year 2018.
      • The sudden CEO transition is a "surprise", but should not cause any short-term volatility, said Jefferies analyst Akshay Jagdale...
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      Mentions: Tyson Foods
    19. Salesforce CEO Marc Benioff and His Wife are Buying Time Magazine for $190 Million

      Salesforce CEO Marc Benioff and His Wife are Buying Time Magazine for $190 Million
      • Salesforce CEO Marc Benioff and his wife Lynne Benioff will buy Time Magazine for $190 million.
      • The announcement comes just eight months after Meredith Corp., publisher of several popular print publications, completed its purchase of Time.
      • In a note relayed by Time editor-in-chief Edward Felsenthal, Benioff said he and his wife would have "no operational responsibility" for the weekly outlet, and acquired it as an investment...
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    20. Elon Musk.. Defends Tesla's Board of Directors Against Critics Who Say It Isn't Doing Enough to Hold Him Accountable to Shareholders

      Elon Musk.. Defends Tesla's Board of Directors Against Critics Who Say It Isn't Doing Enough to Hold Him Accountable to Shareholders
      • Tesla CEO Elon Musk defended the company's board of directors on Friday via Twitter.
      • "The Tesla board has done incredible work overseeing the largest value creation in the auto industry in 100+ years, despite many setbacks. Tesla owes its very existence to this board!" Musk said via Twitter  in response to a Forbes article that questioned the board's performance...
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    21. Goldman Sachs Announces Major Leadership Shakeup As Incoming CEO David Solomon Makes his Mark

      Goldman Sachs Announces Major Leadership Shakeup As Incoming CEO David Solomon Makes his Mark
      • Goldman Sachs named John Waldron as president and chief operating officer, effective Oct. 1, according to an internal memo sent to staff Thursday.
      • Stephen Scherr will become chief financial officer, replacing Marty Chavez, who will move to become one of three co-heads of the firm's securities division, according to another memo...
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    22. '60 Minutes' Chief Jeff Fager Steps Down Amid Sexual Misconduct Allegations

      '60 Minutes' Chief Jeff Fager Steps Down Amid Sexual Misconduct Allegations
      • Jeff Fager, the executive producer of CBS News' "60 Minutes," is leaving the program amid an investigation into sexual misconduct allegations against him.
      • 19 current and former CBS employees told Ronan Farrow in a New Yorker article published in August that Fager turned a deaf ear to instances of sexual misconduct at CBS News.
      • A September report by The New Yorker detailed an allegation by one woman who accused Fager of groping her at a company event...
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