The US Justice Department says it will sue the state of California over its net neutrality bill, General Electric ousts CEO John Flannery in a surprise move, and Elon Musk pays the price for a single tweet.
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There’s a lot of chatter on LinkedIn about the US Justice Department’s decision to take legal action against the State of California. Hours after the state signed its latest net neutrality bill into law, the Trump administration had already considered the possibility of suing California over the ruling. And then it did. California’s latest net neutrality law is one of the strongest efforts in the US to restore internet access rules since they were slashed by the Federal Communications Commission last year.
Also on LinkedIn – It only took a year into John Flannery’s tenure as CEO of General Electric for the company to replace him with Larry Culp. Culp takes over the role of CEO amid one of GE’s biggest slumps in its 126-year-old history. The situation is dire for GE, so it’s no wonder the company switched gears so suddenly. Bloomberg reports GE has lost half a trillion dollars in market value since the peak in 2000, and that after Flannery took over in mid-2017, share’s continued to decline.
And lastly, on Reddit – Elon Musk is stepping down as chairman of Tesla and paying a hefty fine after a decision by the Securities and Exchange Commission (SEC) to sue Mr Musk for alleged securities fraud. The move comes after Musk, who will remain as Tesla CEO, posted a tweet in August saying he was considering taking the electric car maker off the stock market and into private ownership. It prompted the SEC to pursue legal action, calling the Tweets “false and misleading.” Both Musk and Tesla will have to pay a $20 million fine.
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