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Ex-Twitter Leaders File $128 Million Lawsuit Against Elon Musk

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Four former Twitter executives have taken legal action against Elon Musk, seeking $128 million in severance payments that they claim were wrongfully withheld after their dismissals following Musk’s $44 billion takeover of the social media platform in 2022. The executives—Parag Agrawal, Ned Segal, Vijaya Gadde, and Sean Edgett—were let go by Musk, who later rebranded Twitter as X.

According to the executives’ contracts, they were entitled to receive severance in the event that Twitter ceased to be a public company. When Musk privatized the company in October 2022, the executives argue that they should have been compensated with one year’s salary and unvested stock awards. The lawsuit, which was filed in U.S. District Court for the Northern District of California, also names several employees of Musk’s space exploration company, SpaceX, who reportedly oversaw human resources matters at Twitter post-acquisition.

One of the executives, Parag Agrawal, had an annual salary of $1 million and was set to receive $12.5 million in stock that would vest gradually. In the event of involuntary termination, Agrawal had a golden parachute provision entitling him to a $60 million payout. Similarly, Ned Segal and Vijaya Gadde were slated to receive $46 million and $21 million, respectively, in such a scenario, according to company filings.

Musk in the past has indicated his intention to avoid paying severance to the executives by dismissing them “for cause.” In an interview with biographer Walter Isaacson, Musk expressed his desire to withhold the payments, which would save him approximately $200 million. He even went as far as to say he would relentlessly pursue the executives to prevent them from receiving their due compensation.

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Legal representatives for the executives have characterized Musk’s actions as a pattern of behavior aimed at retaining funds owed to others, forcing them to resort to legal action to claim what is rightfully theirs. Notably, the executives had previously sued Musk for legal fees incurred during investigations into Twitter, leading to a Delaware court ordering Musk to pay $1.1 million to cover those expenses in October.

As of now, a spokesperson for X, Musk’s company, has declined to provide any comments on the matter. Similarly, an attorney representing Musk has yet to respond to requests for statements regarding the lawsuit.

In conclusion, the situation underscores the ongoing legal battle between the former Twitter executives and Elon Musk, highlighting the complexities and challenges involved in corporate leadership transitions and the enforcement of contractual agreements. It remains to be seen how the court will rule on the matter and whether the executives will ultimately receive the severance payments they believe they are owed.

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Immigration in Maine Addressing Labor Shortage Could Set Trend for U.S.

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A significant labor gap in Maine’s lobster industry is being filled by immigrants, shedding light on the critical role that foreign-born workers are likely to play in the U.S. economy as the native-born population ages. Maine, known for its abundant lobster population, is grappling with an aging workforce that is increasingly unable to sustain the demands of the thriving lobster industry, valued at $1 billion.

Ben Conniff, a founder of Luke’s Lobster, underscores the importance of immigrants in sustaining the natural resources economy of the state, as many native-born workers are not inclined towards manufacturing work in food processing. Since its establishment in 2013, Luke’s Lobster has heavily relied on immigrants to staff its lobster processing plant, highlighting the vital role played by foreign-born workers in filling labor gaps.

With Maine boasting the oldest population in the U.S., with a median age of 45.1, the state offers a glimpse into the economic future of America, where immigrants are poised to be a crucial source of new workers and economic vitality in the coming years.

As immigration continues to be a hotly debated topic in the country, the influx of immigrants has been instrumental in boosting the American economy’s potential. The Congressional Budget Office has revised upwards its population and economic growth projections for the next decade, attributing the growth to the wave of newcomers entering the workforce.

Maine’s initiatives to attract and integrate immigrants into the workforce, such as the creation of an Office of New Americans, reflect the state’s proactive approach towards addressing labor shortages. Private companies like Luke’s Lobster have also taken steps to diversify and supplement the aging lobster fishing industry by training immigrants and minorities in lobster fishing and licensing processes.

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Chadai Gatembo, an 18-year-old immigrant from the Democratic Republic of Congo, exemplifies the success story of immigrants finding opportunities in Maine. Despite facing challenges on his journey to the U.S., Gatembo is now on the path to becoming a full-fledged lobsterman, showcasing the potential for immigrants to thrive in new industries.

The influx of immigrants is not without its challenges, with issues of work authorization and economic stability confronting many newcomers. Adriana Hernandez, a mother of four from Venezuela, highlights the economic hardship faced by immigrants awaiting work permits, underscoring the barriers faced by unauthorized workers in integrating into the labor market.

Despite these challenges, the overall impact of immigration on the U.S. economy is significant. Immigrants have helped to bolster job growth, insulate the economy against downturns, and contribute to a more diverse and innovative workforce. Economists predict that immigration will play a crucial role in addressing labor shortages and demographic shifts as the native-born population ages.

The entrepreneurial spirit of immigrants like Chenda Chamreoun, who has risen from lobster cleaning to a quality assurance supervisor and now aims to start her own catering business, showcases the economic potential of foreign-born workers. Immigrants tend to be more entrepreneurial, adding to the innovation and productivity of the American economy.

J. Edward Moreno contributed reporting from New York, and Zolan Kanno-Youngs from Washington.

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