I ranted previously about the Twitter board owing a fiduciary obligation to the shareholders to maximize the value of their stock and not to protect their cushy Hunter like jobs. Well guess what. Two things came out over the weekend that demonstrated that they like the teacher’s unions are only interested in protecting their positions and nothing else. First, Musk said he would eliminate them when he took it private and that would eliminate their part time jobs that pay about $300k/year. And the other thing I learned is that combined they own a minuscule portion of the stock, maybe one tenth of one percent or less of what Musk owns and so their interest is not in maximizing stock prices for stock they don’t own but in protecting their salaries. A total repudiation of their fiduciary obligations. Bring on the shareholders lawsuits!