this post was submitted on 02 Apr 2024
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Work Reform

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[–] [email protected] 96 points 9 months ago* (last edited 9 months ago) (2 children)

Canoo reimburses Aquila Family Ventures, an entity owned by the CEO, for use of an aircraft. In 2023, Canoo spent $1.7 million on this reimbursement — that’s double the amount of revenue it generated. Canoo paid Aquila Family Ventures $1.3 million in 2022 and $1.8 million in 2021 for use of the aircraft.

In other words, he uses company profit to pay his own private company to pay for his rides.

[–] [email protected] 29 points 9 months ago (1 children)

Well, he uses company revenue anyway. There may not be any profits to dip into, which makes this even worse.

[–] [email protected] 9 points 9 months ago

Hey, if a ceo was meant to drive, we wouldn’t have invented planes.

[–] [email protected] 19 points 9 months ago

Canoo is publicly traded, isn't it? Wouldn't this raise questions of breech of fiduciary responsibility?