Articles by Francine McKenna:

Elon Musk Wants to Get Paid. He Will Get His 2019 Bonus Thanks to an Accounting Magic

In March 2018, Tesla’s Board of Directors granted Musk a potential bonus of 20,264,042 stock option awards under a  plan that uses “adjusted EBITDA” as one of its metrics. According to general accounting principles, Tesla recorded a 2019 net loss of $862 million, but thanks to using different accounting principles this loss became an adjusted EBITDA profit of $2.985 billion.

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How Regulators and PwC Fooled Reporters—Again

Is the PCAOB really investigating PricewaterhouseCoopers (PwC) for its role in the Mattel auditing mess? I may be wrong, but I seriously doubt it. Since the PCAOB and the SEC are captured by the Big Four auditing firms, regulators use the same PR tactics to preserve their own—and the audit firms’— survival.  

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