, Columnist
Company Isn’t Sure If It Fired Its CEO
Also taxpayer capital relief and some crypto musing.
Dueling 8-Ks!
Who controls a company? Its managers? Its chief executive officer? Its board of directors? Its shareholders? “The night watchman controls the company, sort of,” I wrote last week, “if he can change the locks overnight and not let the managers and directors and shareholders in the door the next morning.” Control of a company is fractured and elusive, because “a company” is fractured and elusive: It is not an identifiable coherent object, but a set of people and decisions and pronouncements and products and web pages and filings. If you have influence over any of those things then to some degree you control the company.