Episodes

  • FRIDAY WRAP: WWE government, Jaguar and the non-US anti-woke movement, airline CEO blowhards

    FRIDAY WRAP: WWE government, Jaguar and the non-US anti-woke movement, airline CEO blowhards
    Nov 22 2024
    IntroductionLIVE from Vanguard’s "Mirror Voting Policy", it’s a Business Pants Friday Show here at November 22nd Studios, featuring AnalystHole Matt Moscardi. On today’s weekly wrap up: DEI and Meritocracy Shark Jumping, no more Jaguars for blue-collar America, A-Holey (or is it A-Holy) investors, Will the real Elon Shady please stand up?Our show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.Story of the Week (DR):DOJ says Google must sell Chrome to crack open its search monopolyThe Department of Justice says that Google must divest the Chrome web browser to restore competition to the online search market, and it left the door open to requiring the company to spin out Android, too.Stop & Shop cybersecurity issue empties shelves before ThanksgivingTrump's new administration should 'not tolerate' the level of cyber attacks coming from Russia and China, Microsoft president saysThe AI Effect: Amazon Sees Nearly 1 Billion Cyber Threats a DayNews Corp Shareholders Reject Activist Bid to End Dual-Class Share StructureAn advisory, nonbinding stockholder proposal requesting that the Board take the necessary steps to adopt a recapitalization plan that would eliminate the Company’s dual-class capital structure failed to pass as follows:35% FORSubtract Rupert’s shares: 64% FORThe Murdoch family controls 41% of company votes, despite having a 14% stake in the company.Has Meritocracy jumped the shark? Linda McMahon, President-elect Donald Trump's pick for education secretary: Trump's education secretary nominee once said she had an education degree. She doesn't. MMThe billionaire professional wrestling mogul served on the Connecticut Board of Education for a year starting in 2009At the confirmation hearing in 2009, she said education was her passion and that her work as CEO of the WWE taught her "firsthand the skills Connecticut students need to obtain through education to be successful."Stepped down for this:McMahon is now facing fresh scrutiny for incorrectly claiming in a vetting questionnaire before being nominated to serve on the state Board of Education in early 2009 that she had earned a degree in education from East Carolina University in 1969; it was actually in French.Member of board of trustees for Sacred Heart University in Connecticut (2004-2017)McMahon also co-founded the conservative research group America First Policy Institute in April 2021, which says its mission is to "provide sound research and carefully crafted policy recommendations to advance the America First agenda"Leadership Team: 15 white people/0 PoC9 women: 7 blond and 2 brunettesTrump’s Education Secretary Pick Named in Sexual Abuse LawsuitA recent lawsuit alleges Linda McMahon knowingly enabled the sexual exploitation of children by a World Wrestling Entertainment (WWE) employee as early as the 1980s.Work Advice: I’m uncomfortable with our CEO invoking Jesus in meetingsReader: I’m a mid-level executive for a publicly traded company. I’ve been here four years, and I hope to stay until I retire about 10 years from now.However, I feel increasingly uncomfortable when my CEO, a devout Christian whose family has owned the company since its founding a century ago, begins each meeting or company event with a Christian prayer. These are innocuous prayers that revolve around the health and safety of employees, their families, and our clients. But they always end the same way: “In Christ’s name, amen.” I’m frequently the only one in the room who doesn’t bow my head.Goodliest of the Week (MM/DR):DR: Anti-woke shark jumping? MMJaguar dubbed 'Bud Light 2.0' after releasing modernist rebranding ad with androgynous models, no carsJaguar Rebrand Sparks Confusion, Angers Anti-‘Woke’ Critics—Including Elon Musk And Andrew TateTexas AG opens investigation into advertising group that Elon Musk sued for 'boycotting' XPro-family Volvo ad celebrated on social media following Jaguar rebrand backlashTexas governor orders state agencies to sell China assetsVolvo Car AB top shareholder: Eric Li (via Zhejiang Geely Holding Group Co., Ltd.) - 79%Jaguar Land Rover Automotive PLC top shareholder: Tata Motors Limited (which is controlled by Tata Sons Limited)DR: Bluesky CEO Jay Graber says X rival is ‘billionaire proof’“The billionaire proof is in the way everything is designed, and so if someone bought or if the Bluesky company went down, everything is open source,” Graber said. “What happened to Twitter couldn’t happen to us in the same ways, because you would always have the option to immediately move without having to start over.”Assholiest of the Week (MM):News Corp investors36% of non Murdoch investors wanted to stick with dual class structureIf we assume the top two investors that aren’t Murdochs - Independent Franchise Partners and SOF Ltd (who was founded by a Murdoch friend) - vote with the Murdochs, 17% of non Murdoch ...
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    56 mins
  • Get surprised: Bakkt acquisition, investors love Air Products’ board, Vanguard’s 4 for 1 policies, and KFC China CEO’s weird fetish

    Get surprised: Bakkt acquisition, investors love Air Products’ board, Vanguard’s 4 for 1 policies, and KFC China CEO’s weird fetish
    Nov 19 2024
    The Random Ask Matt Stuff about the Headlines Game!Donald Trump’s social media group in talks to buy crypto trading venueTruth Social owner is close to an all-share takeover of Intercontinental Exchange’s BakktWhich one of these key facts surprises you the most? The least? Hoover you want to answer:Bakkt, which has struggled for profitability since its launch, was created by ICE, and the owner of the New York Stock Exchange still holds a 55 per cent economic interest in it.Bakkt’s first CEO was Kelly Loeffler, a former head of marketing at ICE and a Republican ex-senator for Georgia during Trump’s first presidency. She is co-chair of the committee organizing his inauguration in January.She is also married to Jeff Sprecher, ICE’s founder, chair and CEO.Air Products Refreshes Board Ahead of Face-Off With ActivistsAir Products and Chemicals Inc. named two new board members ahead of its shareholder meeting in a potentially defensive move against pressure from two activist investors.The company named industrials executives Bob Patel and Alfred Stern as candidates for the 2025 board election, according to a statement Monday. Two existing board members — David Ho and Matthew Paull — will not seek re-election.Pop QUIZ Question: Since 2015, what is the average level of investor support for Air Products and Chemicals Directors?78%88%98%The CEO of Bluesky's Actual Name Means "Blue Sky" in ChineseWhich thing do you care about most and will either make you join Bluesky?The CEO of Bluesky is in fact a woman named Jay GraberBluesky is an independent public benefit corporationBluesky is owned by Jay Graber and the Bluesky teamBluesky confirms Jack Dorsey is no longer on its boardDorsey hadn’t seemingly been a particularly active participant at the company. In March, when The Verge’s Nilay Patel asked Graeber for Decoder about his level of involvement with Bluesky, she said she gets “some feedback occasionally,” but implied he’s otherwise “being Jack Dorsey on a cloud,” as Nilay put it. Months before that interview, Dorsey had closed his Bluesky account.After Elon Musk's acquisition of Twitter, Twitter severed all legal and financial ties with Bluesky SocialCVS strikes deal with activist Glenview Capital for four board seatsJust a few weeks after the health-care giant ousted former CEO Karen Lynch.Glenview CEO Larry Robbins will join the CVS board effective immediately, alongside Leslie Norwalk, Guy Sansone and Doug Shulman. CVS’ board will expand to 16 members.Two of the directors–Leslie Norwalk and Guy Sansone–have experience in healthcare. Which of these two useless other directors are you most excited about joining the CVS board that will now have 16 board members!A hedge fund dude. Glenview Capital founder and CEO Larry RobbinsDoug Shulman, the CEO of a financial services holding company called OneMain Financial, where the board has a sizable -19% gender gapRate on a scale of 1-10 how surprised you are by these headlines:San Francisco Mayor-elect Daniel Lurie names OpenAI CEO Sam Altman to transition teamRFK Jr., Who Claims to Be Super Against Fast Food, Spotted Snacking on McDonald's With Trump and Elon MuskVanguard Gives Investors Option to Avoid Voting for ESG Issuesthe "Third Party Wealth-Focused Policy," which votes an investor’s proportionate shares in accordance with the recommendations from a third-party, the Egan-Jones Rating Co. ratings agency, that “focuses on maximizing shareholder value without being influenced by political or social agendas”Another new option will be "Mirror Voting Policy," which votes an investor’s proportionate shares in approximately the same proportions as the votes cast by other shareholders. This policy replaced the "Not Voting Policy."The existing policy lineup comprises the "Company Board-Aligned Policy," the "Third-Party ESG Policy," and the "Vanguard-Advised Funds Policy."Don Jr.’s New Gig: An Investment Firm Connected to Christian Nationalists1789 Capital, an anti-ESG venture capital firm that Donald Trump Jr. is joining instead of taking a White House roleTrump picks Liberty Energy CEO and Oklo board member Chris Wright as Energy secretaryOilfield services company Liberty Energy -13% gender gapOklo; chair and director and 6% owner Sam Altman Bonus question: which do you hate the most?And finally, China's KFC and Pizza Hut CEO [Joey Wat] said she spends hours watching her customers eatWat said that she stakes out Yum China restaurants and spends "two, three hours" watching people eat. That time leads to new product ideas, like KFC China's "mash potato burger."Which surprises you the most?That Yum China Holdings has a positive 10% gender influence gap–led by CEO Joey Wat and Compensation Committee Chair Min “jenny” ZhangThat China's KFC and Pizza Hut CEO Joey Wat spends "two, three hours" watching people eat
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    37 mins
  • FRIDAY WRAP: Meritocracy RIP, Jamie Dimon’s governance take, missing 8K at Tesla, and Kraft Heinz’s bad week

    FRIDAY WRAP: Meritocracy RIP, Jamie Dimon’s governance take, missing 8K at Tesla, and Kraft Heinz’s bad week
    Nov 15 2024
    IntroductionLIVE from your ESG sad sack, it’s a Business Pants Friday Show here at November 15th Studios, featuring AnalystHole Matt Moscardi. On today’s weekly wrap up: The government is getting its own Facebook Oversight Board; Meritocracy is not the name of a new WWF character; and food with a 36-month shelf life is still bad for youOur show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.Story of the Week (DR):Trump taps Musk, Ramaswamy to oversee ‘drastic’ changes to U.S. governmentDepartment of Government Efficiency–nicknamed DOGE after the cryptocurrency preferred by the Tesla CEO–its stated purpose is to radically shrink the size of the federal government by streamlining bureaucracy, eliminating jobs and shaving up to a third off of the $6.75 trillion fiscal budget.Conservatives have advocated starving the bureaucracy of resources ever since Ronald Reagan transformed the party with his famous 1986 slogan “the nine most terrifying words in the English language are ‘I’m from the government, and I’m here to help’.”How DOGE will exactly operate remains at present unclear. Nor has there been an official explanation as yet regarding oversight, as Trump has confirmed it will operate outside of the executive branch but under his authority. This means it could be little more than a glorified advisory body or it could wield considerable influence, depending on how much favor it carries with the President-elect. Even Exxon Mobil Is Horrified by Trump's Climate PlanAs the New York Times reports, Exxon CEO Darren Woods warned that withdrawing the United States from the Paris Agreement would greatly weaken our global efforts to curb carbon emissions — a grim irony, given the fact that he represents one of the biggest contributors to global warming in the world."We need a global system for managing global emissions. Trump and his administrations have talked about coming back into government and bringing common sense back into government. I think he could take the same approach in this space."Twitter Is Getting Absolutely Destroyed as Users Flee to Rivals Run by People Who Haven't Lost Their MindsBluessky saw a major influx of well over a million new users in the week following the presidential election, growing from just 9 million users in September to 15 million.Bluesky even became the number one free app on Apple's App Store this week, beating out Meta's Threads — which is also spiking in apparent user count, though in a slightly more dubious fashion.Meanwhile, X-formerly-Twitter was in the news this week after British newspaper The Guardian announced it would be leaving the Elon Musk-owned platform, which has quickly devolved into a cesspool of hate speech and disinformation since his acquisition.Jamie Dimon on not getting a job under Trump: 'I haven't had a boss in 25 years and I'm not about ready to start' MMGoodliest of the Week (MM/DR):DR: The Onion Buys Alex Jones’s Infowars Out of BankruptcyThe Onion said its bid was sanctioned by the families of the victims of the mass shooting at Sandy Hook Elementary School, who in 2022 won a $1.4 billion defamation lawsuit against Mr. Jones and his company, Free Speech Systems.MM: Kraft Heinz discontinues school Lunchables MMWhile the Lunchables were said to be tailored to meet school standards, CR found that they contained high levels of sodium—even higher than those kits found in the grocery store, as well as potentially troubling levels of phthalates and heavy metals. CR said the products contained between 460 to 740 milligrams per serving, or “nearly a quarter to half of a child’s daily recommended limit for sodium.” Amy Keating, a dietician for CR, explained that Lunchables are “highly processed” and that processed meat “has been linked to an increased risk of some cancers.” Assholiest of the Week (MM):Meritocracy DRSure, Matt Gaetz, Vivek, Elon, Tulsi Gabbard, etc… but we’re gaslit everywhere to believe meritocracy is what drives markets and appointmentsFrom this week: Felicia Williams Joins NeoGenomics Board of DirectorsWilliams brings experience as the interim CFO of Macy’s (after it declared bankruptcy) and experience at Coca-Cola to the board of… oncological DNA test company NeoGenomicsHere’s a fun one - in our database - Apple is tops on the list of US large cap companies that ignores the core knowledge ever other company in its industry has - 20% of directors in the Technology Hardware industry have Computer Science backgrounds. At Apple, only Tim Cook has that background - Apple is the Disney of tech!Vivek’s Strive voted against Cook, the only qualified director8KsTesla - no 8k mentioning the fact that their CEO is tapped as a government employee?ANTHER FUCKING JOB?Voting against self interestTraders betting against clean-energy stocks have made $1.3 billion since Trump's election winJob growth by state in ...
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    56 mins
  • “Your body, my choice”, billionaires want you to have their babies, and a 4 year “skip Trump” cruise

    “Your body, my choice”, billionaires want you to have their babies, and a 4 year “skip Trump” cruise
    Nov 12 2024

    Live from an ESG-scented fanny pack, it’s an all-new Terrific Tuesday edition of Business Pants. Joined by Analyst-Hole Matt Moscardi! On today’s ongoing post-Election hangover called November 12th 2024: The Financial News Headline Trigger Game!


    Our show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.


    DAMION1

    The Financial News Headline Trigger Game

    Donald Trump’s election win will create a DEI reckoning that forces companies to either stand up for their policies or ‘step away’

    9

    Tech companies will have it easy under Trump. Just like they did under Biden

    5

    Elon Musk’s America PAC spent about $200 million to help elect Donald Trump—with vast majority from the Tesla CEO

    6

    Meta's Zuckerberg not liable in lawsuits over social media harm to children

    5

    Bird flu begins its human spread, as health officials scramble to safeguard people and livestock

    500

    ‘Your body, my choice’: Women face new surge of hate speech on X and TikTok following Trump’s election victory

    500

    Harris’s election loss shows American women still face a glass ceiling

    6

    Oil giant Shell wins appeal against landmark Dutch climate ruling to slash emissions

    6

    Telegram CEO Pavel Durov is funding free IVF for women who have his children

    500

    A cruise company is offering a 4-year journey to escape Donald Trump's presidency

    2
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    43 mins
  • FRIDAY WRAP: Did accountability die in capital markets? Plus, CEOs win, climate passes, and monkeys escape

    FRIDAY WRAP: Did accountability die in capital markets? Plus, CEOs win, climate passes, and monkeys escape
    Nov 8 2024
    IntroductionLIVE from your ESG crying towel, it’s a Business Pants Friday Show here at November 8th Studios, featuring all your favorites: AnalystHole Matt Moscardi. On today’s weekly wrap up: a former CEO beats a glass cliff CEO and a bunch of other depressing stuffOur show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.Story of the Week (DR):Trump’s victory adds record $64bn to wealth of richest top 10 MMStock market euphoric over Trump winShare surge increases Elon Musk’s fortune by $26bn in a day as Jeff Bezos, Sergey Brin and Bill Gates also benefitCoinbase CEO Brian Armstrong is more than $2 billion richer after post-election stock popTesla hits $1 trillion market cap as stock rallies after Trump winWall Street scores political victory with a Trump win: 'This should aid all banks'Tech CEOs Eagerly Grovel at the Feet of TrumpCEOs including Satya Nadella and Sam Altman are lining up to congratulate Donald Trump on his election victoryGoldman Sachs CEO congratulates Trump on election victory, calls for unityAfter Trump Took the Lead, Election Deniers Went Suddenly SilentTrump supporters spent years fomenting concern about election integrity. On Tuesday, they set it all aside.Goodliest of the Week (MM/DR):DR: Climate Initiatives Fare Well Across the Country Despite National Political Climate MMWashington voters on Tuesday firmly rejected a measure to overturn the state’s signature climate lawCalifornia voters also voiced their support for strong action on climate, approving a $10 billion bond measure to boost climate resilienceA ballot initiative in Honolulu, Hawaii, creating a climate resiliency fund passedLouisiana voters overwhelmingly passed a constitutional amendment that requires any revenue received by the state from renewable energy production to be deposited into Louisiana’s Coastal Protection and Restoration FundA ballot measure in South Dakota aimed at easing the construction of carbon dioxide pipelines was squarely rejected DR: Workers in Missouri can look forward to raises after minimum-wage boosts passedvoters opted to raise the state's minimum wage to $15 (from $12.30) an hour by 2026.DR: Nissan to cut 9K jobs, reduce CEO's monthly pay by 50% as company faces 'severe situation'CEO Makoto Uchida volunteered to immediately begin forfeiting half of his monthly compensation, and other executive committee members also volunteered to take pay cuts.Boeing strike ends after workers vote to accept “life-changing” wage increase DRMembers of the IAM had been fighting for a 40% bump. The initial agreement gave workers a 25% wage increase over its four-year lifetime. The final agreement gave them a 38% raise.It is common for collective bargaining agreements to give workers a bonus upon ratification. The initial agreement would have given workers a $3,000 bonus. The final agreement gave them a $7,000 bonus plus a $5,000 401(k) contribution.The initial agreement offered a 75% company match on the first 8% of workers’ contributions to their 401(k) plans. The final agreement gave them a 100% company match on the first 8% of their contributions.MM: Intel says it's bringing back free office coffee to boost morale after a rough yearAssholiest of the Week (MM):AmericaWe did this already and it was literally horrible for everyoneCEOsCEOs are clamoring for bodyguards as the world feels more dangerous, a top security boss saysRepublican mega-donors asked their employees who they will vote for in surveyJeff Bezos' net worth hits all-time high fueled by Amazon shares getting Trump bumpWarren Buffett and Jensen Huang stayed quiet on the election—and their fortunes have rallied more than $12 billionAccountabilityHeadliniest of the WeekDR: Olivia Rodrigo Says She Would Never Date a Man Who Wants to Go to SpaceMM: Police Warn Residents to Lock Down Houses as Dozens of Monkeys Escape Research FacilityWho Won the Week?DR: Black Women break a barrier in U.S. Senate, winning two seatsTwo Black women, Angela Alsobrooks and Lisa Blunt Rochester, have won US Senate seats representing Maryland and Delaware, breaking another barrier in a 235-year-old institution long dominated by White men.Only 12 Black people have served in the Senate, and only three of them have been women. Never before have two Black women been seated at the same timeMM: Cloned ferrets: Cloned Endangered Ferret Gives Birth to Healthy OffspringPredictionsDR: I feel bad for a whileMM: There was the Trump trade - people buying oil stocks, bitcoin, etc - but now there’s the White Man trade. Investors target voting out black women on boards to add insult to injury!
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    50 mins
  • Who would you elect? Zuck vs. John Arnold, Boeing now vs. Boeing before, driving a Tesla vs. driving anything, and Howard, Susan, or Peter Buffett

    Who would you elect? Zuck vs. John Arnold, Boeing now vs. Boeing before, driving a Tesla vs. driving anything, and Howard, Susan, or Peter Buffett
    Nov 5 2024
    WHO WOULD YOU RATHER BE/VOTE FOR?Home Depot co-founder, GOP donor Bernie Marcus dead at 95. Berne endorsed Trump in November… 2023 and said two years ago that “Nobody works, nobody gives a damn. Just give it to me. Send me money. I don't want to work — I'm too lazy, I'm too fat, I'm too stupid. We used to have free speech here. We don't have it. The woke people have taken over the world. You know, I imagine today they can't attack me. I'm 93. Who gives a crap about Bernie Marcus?” WHO WOULD YOU RATHER BE?Lead “Independent” Director Gregor BrennemanCEO Ed Decker already on boardDoesn’t have to sit on any committees (all other independent directors sit on at least two)$380,000 in pay last year to meet 11 times; one of two directors who didn’t even give to charity as part of the board’s matching charitable contribution programHas an actual voice that matters (14%); CEO has 25%Director Gerard Arpey$315,000 despite low pressure (only 3% influence)No leadership rules: sits on Nominating Committee with four other directors and FInance Committee with 5 other directorsDoesn’t even have a “Real” job: says he has been a partner in Emerald Creek Group, a private equity firm since 2012. Prior to his retirement in 2011, he served as CEO of AMR CorporationEmerald Creeks’s website is a picture of an orange grove. In the “news” section of the website the last listed event was from November 29, 2011: Arpey Joins Emerald Creek GroupMeta Permits Its A.I. Models to Be Used for U.S. Military Purposes.Meta will allow U.S. government agencies and contractors working on national security to use its artificial intelligence models for military purposes.Meta said that it would make its A.I. models, called Llama, available to federal agencies and that it was working with defense contractors such as Lockheed Martin and Booz Allen as well as defense-focused tech companies including Palantir and Anduril.Meta’s move is an exception to its “acceptable use policy,” which forbade the use of the company’s A.I. software for “military, warfare, nuclear industries,” among other purposes.WHO WOULD YOU RATHER BE?Meta Platforms Emperor Mark Zuckerberg72% influence; 61% voting powerWorld’s 4th richest person: ~$200BBlah blah blahMeta director John Arnold1% influenceMember on only one committee (Audit & Risk) with 4 other membersNo other directorships; only have a BAreceived an $8M bonus from Enron just before the company filed for bankruptcy; the largest cash bonus ever distributed by the company. Known as "king of natural gas”You work at a place named after you (Arnold Ventures) and you’re still just the co-founder and co-chairYour board appointment was announced on Valentine’s DayPay will be roughly $500,000 annually. He also received two initial equity grants worth $1.4M In 2007, Arnold became the youngest billionaire in the U.SBoeing Union Approves New Contract, Ending Costly StrikeLeaders of the International Association of Machinists and Aerospace Workers district in Seattle said 59% of members who cast ballots agreed to approve the company’s fourth formal offer and the third put to a vote.The new contract will raise wages more than 43 percent cumulatively over the next four years, an improvement over the two previous offers. The first proposal would have raised wages just over 27 percent.The deal also includes a $12,000 ratification bonus, which is four times as much as the bonus in the initial offer, and productivity bonuses.However, Boeing refused to meet strikers’ demand to restore a company pension plan that was frozen nearly a decade ago.Bank of America analysts estimated last month that Boeing was losing about $50 million a day during the now-ended strikeWHO WOULD YOU RATHER BE?Current CEO Kelly Ortberg, who inherited a messOr former CEO David Calhoun, who got to step down when he felt like it and got $98M in total summary compensation since 2020Kroger Finalizes $1.37 Billion Opioid Crisis SettlementUnder the agreement, which wasn’t an admission of wrong doing or liability by Kroger, the company agreed to pay about $1.2 billion over 11 years and around $177 million over a six-year period, each in equal installments. WHO WOULD YOU RATHER BE?CEO and Chair Rodney McMullen since 2014$94M pay since 2019; ; holds $350M in Kroger stockPay ration 502:1; median associate for 2023 was $31,302; received $600k in dividend payments in 202492% shareholder supportNora A. Aufreiter, chair of the Public Responsibilities Committee that met a whopping 3 times last year; served on our Public Responsibilities Committee for nine years, the last four as chairDirector Emeritus of McKinsey & Company; retired in 2014 after more than 27 years with McKinsey$321,000 last year; holds $3M in Kroger stock98% support from shareholders; 99% last year2% board influence despite having served for a decadeElon Musk and X are epicenter of US election misinformationFalse or misleading claims by billionaire ...
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    33 mins
  • TERRIFYING: 23andMe’s board, “dangerously cold” ice cream, and the governance US election

    TERRIFYING: 23andMe’s board, “dangerously cold” ice cream, and the governance US election
    Oct 29 2024
    Live from an ESG-flavored pumpkin patch, it’s an all-new Terrific Tuesday edition of Business Pants. Joined by Analyst-Hole Matt Moscardi! On today’s Halloween-filled scary Independent lead Director called October 29th 2024: a scary rate the headline game and a Terrifying headlines quiz!Our show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.DAMION1Scary headlines game23andMe Appoints Three New Independent Directors to BoardMark Jensen (LD & Comp Committee Chair): former executive at Arthur Andersen LLPAndre Fernandez (Audit Committee chair): former CFO WeWorkJim FrankolaAverage board influence across 4 boards (Lattice Semiconductor, Cardlytics, Ansys, and Skillsoft) is 4%OpenAI chair's AI startup Sierra gets $4.5 bln valuation in latest funding roundBret Taylor has raised $175 million in a new funding roundOne-year-old Sierra focuses on selling artificial intelligence-powered customer service chatbots to enterprises. It serves clients such as WeightWatchers and Sirius XMJeff Bezos Reveals Why Washington Post Didn't Endorse a 2024 Candidate (spoiler: the quick answer is Jeff Bezos)“Dave Limp, the chief executive of one of my companies, Blue Origin, met with former president Donald Trump on the day of our announcement,” Bezos wrote. “I sighed when I found out, because I knew it would provide ammunition to those who would like to frame this as anything other than a principled decision.”As he heads for the exit, Missouri secretary of state resurrects ‘anti-woke’ investing rulesIn calling for the latest round of changes, Jay Ashcroft said there is “an immediate danger to the public welfare” if there are not guidelines in place cautioning people about investment firms that use ESG principles: “ESG investing opposes fossil fuels, pushes unionization of private companies, pushes radical racial and gender equity over merit, and flexes their influence over who is chosen to sit on corporate boards.”AI will acquire a human form,' says Nvidia vice president (Masataka Osaki, the Vice President of Worldwide Field Operations at Nvidia)Elon Musk's secret talks with Putin ramped up during his Twitter takeover: WSJ reportGoogle to develop AI that takes over computers, The Information reportsAlphabet's Google is developing artificial intelligence technology that takes over a web browser to complete tasks such as research and shoppingJeff Bezos Reportedly Has Secretive "Personal Reasons" for Wanting to Escape to MarsWoman sues JetBlue over ‘dangerously cold’ ice cream sandwich that she says cracked her toothRobinhood jumps into election trading, giving users chance to buy Harris or Trump contractsU.S. stocks could soon trade for almost 24 hours a dayElon Musk claims he can cut the federal budget for Trump by 'at least' $2 trillionTech CEOs hedge their bets and make nice with TrumpApple’s Tim Cook phoned the former president to discuss Apple’s European legal troublesSundar Pichai called him to praise his photo op at a McDonald’sFinally, let’s rate some Jamie Dimon says:JPMorgan CEO Jamie Dimon says 'it's time to fight back' on regulationJamie Dimon says the global order is at risk–and raging conflicts could explode into World War 3World War 3 has already begun, says JPMorgan Chase CEO Jamie DimonMATT1Terrifying headlines quizYou really like being alive on earth… and then…:Volcanoes don't cause climate change — but it could be the other way aroundClimate Change Even Threatening Greece’s Butterflies, Food SupplyPolar bears are getting horrific injuries and huge 'ice balls' on their paws because of climate change, researchers say DRFall leaves look a little muted? Warmer, drier conditions are changing autumn in ArizonaYou really don’t want e coli or some horrible plague… and that’s when you hear:McDonald's bringing back Quarter Pounder after beef patties ruled out as source of E. coli outbreakRoyal Caribbean raises annual profit forecast on strong cruise demand, price hikesThe Arctic ice is melting. A booming cruise industry is taking advantage — while it can.Threat of foodborne pathogens is growing with climate change, experts warn DRYou are an out gay human being working in a firm with thousands of employees, virtually all of whom are white hetero milquetoast or not out at work. You’re already basically alone in a sea of bros, when you find out…:Your CEO leads an anti-gay church, and apologizes only because the billionaire ex-CEO and chair has a married non-binary child (Fortescue) DRIt’s your fault angry white men don’t want to pay your products touched by your gayness (Harley)Your existence in the office, not your work product, got your hetero white male CEO paid morePicture this - you’re home, comfortably at your kitchen table, home made coffee, house is empty, on your Zoom calls. You can shit in your toilet, you can choose to wear pants or not, you can be on call if your ...
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    51 mins
  • FRIDAY WRAP: McDonald’s had a week, Southwest’s board “shakeup”, Boeing’s board get sued, and Techno Optimism revisited

    FRIDAY WRAP: McDonald’s had a week, Southwest’s board “shakeup”, Boeing’s board get sued, and Techno Optimism revisited
    Oct 25 2024
    IntroductionLIVE from your ESG corn maze, it’s a Business Pants Friday Show here at October 25th Studios, featuring all your favorites: AnalystHole-man Matt Moscardi. On today’s weekly wrap up: McDonald’s investor relations team hires entire writing staff from The Onion, an accelerated retirement at Southwest, Denny’s is saving lives, and a shout-out to Mr. CorpGovOur show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE.Story of the Week (DR):McDonald’s strange week: DR MMTrumpMcDonald's is distancing itself from Donald Trump after a high-profile visit to the fryerWe don’t support presidentsRead McDonald's memo about Trump's controversial visit: 'We are not red or blue – we are golden'E. coli outbreak/quarter pounder/onionsE. coli outbreak tied to McDonald's Quarter Pounder kills 1, sickens dozens in USTaco Bell, KFC, Pizza Hut, Burger King pull onions amid McDonald’s outbreakA much bigger McDonald’s lawsuit is about to ‘erupt’ in the aftermath of its E. coli outbreak, food safety lawyer saysCDC told McDonald's about potential E. coli outbreak late last weekFDA probing McDonald's supplier Taylor Farms as source of E. Coli outbreak, CNBC reportsDEI failure? According to comparably.com, only 2 of Taylor Farms leadership team of 16 are women. So I guess Vivek would agree that it was the men? Former Abercrombie CEO Mike Jeffries charged with sex trafficking, interstate prostitutionSouthwest chairman will 'accelerate retirement' and step down next week, as board appoints 6Disney to name CEO Bob Iger's replacement in 2026, taps Morgan Stanley's Gorman as chairBoeing strike drags on as latest deal is rejected by 64% of unionGoodliest of the Week (MM/DR):DR: Apple CEO Tim Cook’s Other Job: Helping Nike Turn Things AroundDR: Denny's to close 150 restaurants, will reduce menuMM: McDonald's linked to E. coli outbreak, CDC saysTrump just served them!MM: SEC Fines WisdomTree $4 Million for Investing in Fossil Fuels and Tobacco in ESG Funds DR MMAssholiest of the Week (MM):Southwest and activist investor Elliott strike deal to keep CEO Bob Jordan, add six new directorsLook how we have to coddle these fucking directors - the six directors leaving Southwest will be gone by November 1, but Gary Kelly, who has sat on this board and let it languish for THREE DECADES will still get to linger at the back of the conference room as “Chair Emeritus”In: David Cush, Sarah Feinberg, Dave Grissen, Gregg Saretsky and Patricia Watson plus Pierre Breber, who was already addedWe have Grissen, Saretsky, Watson, and Breber in our dataAverage earnings: 413Average TSR: 389Out: Biegler, Biggins, Blunt, Cunningham, Gilligan, and SoltauAverage earnings: 356Average TSR: 371Survivors: Doug Brooks, Ed Conrado, Bob Fornaro, Rakesh Gangwal, David Hess, Elaine Mendoza, Chris Reynolds, and Lisa AthertonAverage earnings: 379Average TSR: 500Replacement skills:Energy/oil (Biegler) for energy/oil (Breber)Government (Blunt) for government regulator (Feinberg)TWO professors (Cunningham, Gilligan) for TWO airlines (Cush, Saretsky)Bankrupt retail (Soltau) for mediocre hotel (Grissen)Bank (Biggins) for Bank tech (Watson)Jordan staysThis is the big win??? Replacing mediocre with mediocre, keeping Kelly napping in the background, and Jordan, a lifer alongside Kelly, keeps his job? That’s a WIN?Teen Dies by Suicide After Becoming Obsessed With AI Chatbot150m raised at a 1bn valuationAndreesen anchoredTechno Optimist Manifesto:We believe Artificial Intelligence can save lives – if we let it. Medicine, among many other fields, is in the stone age compared to what we can achieve with joined human and machine intelligence working on new cures. There are scores of common causes of death that can be fixed with AI, from car crashes to pandemics to wartime friendly fire.We believe any deceleration of AI will cost lives. Deaths that were preventable by the AI that was prevented from existing is a form of murder.Our present society has been subjected to a mass demoralization campaign for six decades – against technology and against life – under varying names like “existential risk”, “sustainability”, “ESG”, “Sustainable Development Goals”, “social responsibility”, “stakeholder capitalism”, “Precautionary Principle”, “trust and safety”, “tech ethics”, “risk management”, “de-growth”, “the limits of growth”.Accountability and oversight: noneOpenAI disbands another safety team, head advisor for 'AGI Readiness' resignsMeta Oversight Board seriously concerned about Facebook’s ‘overenforcement’ of Harris-Walz nipple postWhining Boeing InvestorsLawsuit Against Boeing's Board Seeks Accountability for Safety FailuresOhio AG Dave Yost on behalf of Ohio Public Employees Retirement System and the State Teachers Retirement System of OhioThe lawsuit contends that board members and senior management know about the...
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    41 mins