to be or not to be

Tesla investors potentially to vote on switching the carmaker's corporate registration to Texas

The electric car company's CEO said early Thursday that Tesla would get shareholders to vote on whether to switch its corporate registration to Texas, where its physical headquarters is located. Photo courtesy of Tesla

Elon Musk wants Tesla investors to decide on moving the company's corporate listing to Texas after a Delaware court decided he shouldn't get a multibillion-dollar pay package.

The electric car company's CEO said early Thursday that Tesla would get shareholders to vote on whether to switch its corporate registration to Texas, where its physical headquarters is located.

“Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas,” Musk wrote on his social media platform X, formerly known as Twitter.

Musk had polled X users earlier on the same question, with 87.1% of 1.1 million respondents voting yes. “The public vote is unequivocally in favor of Texas!” he wrote.

Musk, who has previously polled people on X before making decisions, moved Tesla's headquarters to Austin, Texas, from California in 2021.

His announcement comes after a judge in Delaware, where the company is currently registered, ruled last Tuesday that Musk is not entitled to a landmark compensation package potentially worth more than $55 billion that was awarded by Tesla’s board of directors.

After the ruling, Musk took to social media to to express his displeasure.

“Never incorporate your company in the state of Delaware,” he wrote in one post. He later added, “I recommend incorporating in Nevada or Texas if you prefer shareholders to decide matters.”

The ruling came five years after shareholders filed a lawsuit accusing Musk and Tesla directors of breaching their duties and arguing that the pay package was a product of sham negotiations with directors who were not independent of him.

The defense countered that the pay plan was fairly negotiated by a compensation committee whose members were independent and had lofty performance milestones.

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A View From HETI

Looking to start composting? This is your month to try it out with free drop-off spots in Houston. Photo via Getty Images

The City of Houston Solid Waste Management Department is launching a free Food Waste Drop-Off pilot program through the end of February.

The program is in collaboration with Council Member Sallie Alcorn, Zero Waste Houston and the City of Houston Health Department, and allows residents to drop off food scraps at four different locations. The locations are:

  • Kashmere Multi-Service Center, Mondays from 2 to 5 pm
  • Acres Homes Multi-Service Center, Tuesdays from 2 to 5 pm
  • Alief Neighborhood Center, Wednesdays from 4 to 7 pm
  • Sunnyside Multi-Service Center, Thursdays from 3 to 6 pm

Houston residents, businesses, and institutions generate 6.2 million tons of municipal solid waste per year according to the Solid Waste Department program.

“You’ll find when you start composting your food scraps, there is a lot less trash generated in your home, at your curb, and taken to the landfill,” Alcorn says in a news release.

The Solid Waste Management Department provides solid waste services with the collection, disposal, and recycling of discarded material in an environmentally-friendly and cost effective way.

“The Solid Waste Department is eager to continue to provide innovative programs that divert waste from the landfill and actively engage Houston residents,” says Mark Wilfalk, Director of Solid Waste Management in the release.

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