Transcript
Up. Oh, that's like a resigned so good, that's good. Just make my back feel good. Live. From the Vanguard charity cornhole tournament. Where the players toss ESG filled bean bags at ghg emissions, Target game boards. What the hell is that? That's all new, terrific, Tuesday edition of business fans joint by analysts whole mattress. Wow, wow. Do we have to fire our entire writing staff every week? I think we already did far. That's the problem. On today's. Kimchi, filled, proxy contest called September 24th, 2024 the good game and a data drop. Yeah, I love kimchi. I wish the data drop had more kimchi, but it doesn't our show today is being sponsored by free float analytics. The only platform measuring board power connections and performance for free. Get that free flow analytics.com. And The live studio audience, loves free flow analytics. We've already had some customers. So if you're interested in all of our data drops, there are available unfortunately in a different website. free flow dot LLC, free float dot LLC, including today's Data drop which overlaps the first entry of our good game. Here's how the good game works. I pick out headlines. That make me feel good and Matt basically ways in Arbiter of Truth, on a scale of 0 to 10. Tell me if it's actually good or not. Yeah. ways in is, I usually just trash what you think is good. That's usually like that. Let's get right to it. Come on. Yeah, let's not fool around today, so I picked a lot of headlines. I didn't I didn't realize you had a data drop to present. So I, I'm not presenting it so much as I'll just talk through it as part of the good game. So, here we go. First headline for September 24th, 2024 women on corporate board of directors. Now, mandatory announces the United Arab Emirates, the country state So just I'll talk to actually tell you what the Mandate is, it's okay. And and it's kind of good news about news, it's only one director, only one but it's not. It doesn't have to happen by 2015. It's actually has to happen by January, is that's only a few months away. That's something right January. All. So what do you think about this? What do you think? All right, so I saw this headline. Yeah and I cheated a little bit. Okay, it's fine because you know you want, here's what's in the data drop and this will tell you then you can help me determine whether this is good or not because I don't know. There are currently in the free flow analytics data. Yeah, 39 female directors out of 335 in the database so those are publicly traded companies from the UAE at 42. Wait. Okay, Ford. We have 42 UA, 42 UAE because that not in itself, a great advertisement for our wonderful product that we're offering free flow, analytics.com, that we even have just just too Schmucks here. Me me and Matt just two Schmucks and we've got this database with 42 42. That's right. 42 companies just from the UAE alone. Yeah imagine how many imagine how many we must have in the United States like at least 50 companies. At least 50. Yeah. Maybe even 60. There's actually 9,500 or so companies in our database 42 of which are UAE 39 of the directors of those companies are female. So I'm okay, I'm guessing that there are plenty. My guest is that there are several companies that have more than one. So that means that there are probably lots of companies with zero, right? So there are a bunch that have zero, so 11 of the companies. Yeah, of so 11 of the 42 fully one quarter of the Companies have zero women at them. So that means, this is just our data. There are obviously many more dozens UAE come to other 31 have 39 women, which means at least a couple of them have more than one woman. We're really talking about a regulation though, that, that is targeting on the publicly traded side, that is targeting 11 companies. They just have to find one woman by January. What's your prediction? Do you think that some of the women already into our database will be asked to serve on an additional board? Well, that's the real question. Do we have the same problem that we have in the like the rest of the world where like they're just for women and they just get recycled everywhere? Or do you go to Every government officials wife or daughter and put them on? I'm saying that because there's one woman on a board at a company in our database that has the majority of influence at a UAA, really UAE company. Is that correct? Family firm. It is Dubai, Islamic Bank. She worked for the state. Is it a controlled by the state, right? Is it that one? No, it's just. All right. Do by Financial Market is and, and I just got some nice organic bananas. The the woman who's in charge appears to be. It's difficult for me to discern the granddaughter of a prince, but regardless, she is a government that she's a government official and it's a government owned entity. So, are data says, she's tagged as the government, basically, she's the controlling State shareholder, right? So but it does happen. So that is my guess, but I look the best part about this headline, so that's the Data Drive. You can get, you can get all the way you got LLC, and get all the other data. Drops that we have. There's a whole bunch of theirs. There's always like six seven, the The headline, the best part about this. This headline is January 2025. That is the absolutely, the best part. Yeah. Which it's like, yeah. I mean, it's the 24th of September. So you've got to go people effectively, three months, just get this done. Like, just get it done. And there's no snow out there. So you can't complain about, like, I had a shovel up, my car, or something? Come on, get to it. So, I'm gonna give this a seven. All right, I like it. I like, I, it's a good start. It's not bad. Moving on. Let's call this the, the count, the Darren Woods affect call. I'm calling with that. Here's the headline. They knew when they lied. California. Sues Exxon, Mobil. Alleging deception about plastic recycling. Wow, my mind is blown by the fact that the oil industry may have lied about. Don't care about these so much. You don't Well, first of all, this is a just the lawsuit, right? They just filed the lawsuit which means if you're going to see an outcome to this lawsuit, we've got 15 years to wait. We just yeah, we're just getting to the Martins. Something corn. Something tells me. So I'm mobile has more than just one. Lawyer. Yeah. They don't they have yeah, they don't Rhode Island state. Like I think they have a bit more of a hard fighting crew than that. It's Gus in Building C, who's fighting this one now. But this lawsuit took two years for California to research, and it is massive like, good. I'm trying to read it. I like I open it up to read its 147. Use AI to summarize it. Yeah, I don't trust anything AI says, and or smartly um, So I don't know. This is like one of those things that like, when they lay it out and excruciating detail you feel like oh this is heinous everything about this is heinous. But I am not going to see a result for like 12 years. So I don't know how to feel about that. The way, the way I look at these things is like this, that now, I think it's most of these things have to appeal to younger generations and and so any lawsuit, any headlines like this? I think it reaches young people. And I as they age and become the policy makers, I think it'll have a long-term effect. That's why that's my hope, right? Yeah, I know you are, right? I'm gonna give this a six. All right. Six is that I like the lawsuit, but I got. It's just like, I don't have a decade to wait for the start. Well, okay, I got a lawsuit that I think should be right up your alley. This is the next headline for the Good Game Cards Against Humanity. Do you know that card game? Of course, play that love that game, really. You're you're five year old is Cards Against Humanity. They have a kid's room. Oh, okay. I didn't know that. I know that Cards Against Humanities lawsuit against Elon. Musk is a brilliant stunt that makes a serious point. So they're suing SpaceX for 15 million dollars for littering on land that they'd bought in 2017 to stop Trump from building a border wall. So I guess SpaceX is like dumping all their crap on somebody else's land. So call of all people of all entities Cards Against Humanity is suing, Elon Musk. Can we just say first of all? Which is there. That's, you know, they're They're honoring their own name, right? Because Elon Musk seems to be against humanity too. Well, first of all, yeah. Can we just give props? To a stupid game. Yeah, that's not stupid. That basically is stupid. Made a publicity stunt that foiled not one rich narcissistic egotistical white billionaire but two, they bought a small piece of land in Texas, right? That irritated Trump. And now musk, how do you even hey that? Like, that's just dumb luck. Is this all? So, not just brilliant advertising, it's really right for the game itself. I mean, you like, they are all, so they're pledging for if they, they're pledging like they sued for damages and they sued for something like 15 million and their pledge is they everybody their fans don't need ten dollars each to buy the land in Texas. And they're pledging to give all of their fans, if effectively a dividend, send them a hundred dollars each if they win this lawsuit like they're gonna like, take the money from this lawsuit. Wow, send it to the fans who helped them buy the land in the first place. Why not just send it right to CEO? Alan Shaw, Norfolk Southern he just stepped down. So maybe he's come on, give us a score here. Come on, I love. This is the 10th. There's no way, it's not a 10 and luckily that I think that's the only Elon Musk reference today. Luckily. Oh really? That's all right. That's, can we just give the show at 10? The rest? Okay, I don't know how you gonna feel about this one but I threw it in any way. Social. Here's the headline, social This is from the guardian social media owners top Global survey. Of misinformation concerns. Here's why I picked this way. What? Yeah. How is that possible? But here's the quote that I thought was important and I which I thought was good because, you know, we try to spread our words to the masses. I don't, I don't, I don't know that we're doing a great job of that. We haven't exactly been asked by CNBC, yes to do a show at 3:30 in the morning, but here's the quote that I thought helps that I liked that made me feel good. The other people are looking into things that were like, looking into the unchecked power of these entities. Referring to social media owners poses. A grave risk to the health of our Global Information environment, right? The unchecked power is what we talked about, basically, every show, Yeah. So okay, I get why you like that? Someone agrees with me, is there anything else to like about this? Like first of all, you can't just ignore problems and have them, go away. We I'm not ignoring we've just asked for one simple favor to the investment investment Market investment World SEC, listening to all that. We've one little favor, just get get rid of the Dual class shares, all right? That's it. Just get rid of my I want to know the favor I want. Yeah. Is to name the individuals. Who control these companies. Okay. Just name them because they even in this headline they say the entities right? Yeah. Like this not entities. It's like five dudes. Yeah just some dude. It's just some dude. It's Evan Spiegel Mark, Zuckerberg, Elon Musk, Sergey Brin, Larry Page. That's it. A big handful of China College. Well, see, I have that Sam Altman to that. Now, I mean, but we are talking about literally Two like handfuls of dudes. Yeah. Not even dudes. I want to hang out with that. Makes it worse. Yeah, it's so much worse. Yeah, it's so much. So when they say like that, biggest source of global misinformation, that's terrible entire world on social media platforms and unchecked power. Social media platforms, doesn't have to be a platforms. It is five fucking, dude, that's it. And for anyone, who's in charge, some of our listeners. I know that you have important jobs, much more important than what Matt does. I don't know what Matt does. He sits by a plant in front of a free float side? But if you're in charge of all I do, but ESG investing whatever. Don't don't invest in things, like, meta platforms. What do you doing? Don't don't do it. Don't do it. He laid out, we look a lot of people have to invest in these companies because they own the index. Let's just say, let's just say there's some myth that you have to know these companies. You can vote now your vote, doesn't matter, it meta, but those people have other board spots, right? And we just 23andMe entire board step down for stupid shit. That means you can coerce these people there. This is a toxic board, like, you cannot be your aiding and abetting, the death of democracy, the death of facts, like the post truth Society. That's on you now. Thank you. Someone else. Here's analogy. If you, if you fall Sports and some athlete, that does something horrible and the fans hate him and they boom. Right. And then he gets traded their team, they don't stop bullying them, I mean, they gonna hate him wherever he goes. So so if this director is enabling nonsense at one company, that's right. Vote him off at another company. Why are you letting him take up ship at another you know come on. What are we doing here? Follow the people all the people. I hate this oh because it but what Rotation, it created, it reminds me that we don't talk about the fact. This is five people with names and a bunch of board members sitting around them basically, like, saying thanks for the paycheck. We're just here to do what you want, right? Like, we're like, window dressing, it's like governance. Window dressing, I'm giving this a three. I'm giving it a three. I don't like it. Moving on, Wynn Resort settles shareholder lawsuit. Over CEO misconduct cover up for 70 million dollars and you know, I mean the headline kind of drops The fact that this, you know, it's it's Steve Wynn. That was the CEO. Steve Wynn. The guys, I just want to point before you give me a vote on the score on this one. I just wanted to point out that this article Pointed out that the subsequent leadership led by Matthew Maddox as worked to distance itself from its founder and ensure compliance with new corporate governance standards, right? That's the new. That was the new CEO Matthew Maddox, but this article. Hello people. Craig Billings took over when resorts in 2022. I don't know what kind of research to us, if you want, if you want help with research, we'll do it. A little bit of research for you. In fact, you could just go to our database. I don't know. You can just Go to our database at freeflow analytics.com and figure out stuff if you want. He was the CEO. He stepped down 2022. But that's not the point here. I will say this is no, you know what? I'll let you just score this before. I give any more information. I don't want to lower your score, 70 million dollars. You're not gonna lower my score. It's not possible lower my score. Um, because like, look Elaine Wynn on 8.5% of the company. Six percent of the company, his wife, Steve one ex wife right. 6% of the company is owned by Tillman for Tita. What's that? Who is a billionaire owner of the Houston Rockets? He's been investing with Steve Wynn since the 1960s they have been like besties for five decades. Okay, the company pays a 25 cent share dividend and they do, they did 195 million and share BuyBacks last year, which means Elaine Wynn by herself is just making two and a half million on dividends. Do we have Steve Winwood? Was he forced to divest this company? The forced to give up. As I can't remember, I think he had to give everything to a lane, but there is a 2018 board agreement with win that allowed him to appoint a director. Phil Sartre, what who has to, who they cannot the rest of the board cannot get rid of what only when he leaves does. Does the the that agreement? He doesn't get to a point another direct. Why are The Regulators? Allow that one? It's unclear and this is a classified board. So sartre's. Last election was 2023, you got a 90.1% approval because investors forgot that in 2080, that fucker, just got appointed there. So we're talking about distancing yourself, the the owners of this company, the board of this company. Like their their Steve Wynn, right? Like it's still just from what? What do we distancing from? I don't understand any of this. Sure you paid. 70 million dollars. He's a billionaire. This is like not. Well, it's the company. Nothing company is paying it, right? It's Wynn. Resorts is actually sure who they paid to what, who's paying your Square? Give me your score. This is a 0. This is like the least. Here's this distance that you get. Here's the part that really depressed. Me and again, this is like I'm not this game is just not about me getting all tends because there are people who might read this headline. Think good, you know, Justice right, Justice served wrong. Here's the other part that depresses me. That Resorts is only paying 9 million dollars of that. The insurance insurance are paying the other 60 million though, I mean, isn't that crazy? Nuts. Well, that's what happened. So, when Boeing's bored was sued for effectively, malpractice for the max 8 plane crashes. It was a 250 million dollar settlement with like the Department of Justice. I think it was the doj and that lawsuit actually was paid out by insurers. They paid nothing. That's what dno insurance is for. So what is the accountability? Yeah well I it's bananas I guess the only the only good news is the Steve Wynn is no longer allowed to hold a you know to be in the c-suite in any publicly traded company in Nevada. Oh wow. Okay well wow. Wow everywhere else, finally Look, if you're a dno insurer and you've listened to this show, you should be writing your premiums on individuals, not on board because the individuals can go from board to board. And they increase the risk profile. There is so much data that shows if you are on one board that board made shity decisions. You take those shity decisions somewhere else, when there's no accountability. Meaning there are full Boards out there that like three M's board just paid Millions upon millions of dollars. I think it was like a multi-billion dollar settlement for like earplug defective ear plugs that they sold to the United States. Military rupture, you know, that didn't work and like, and people ended up having hearing loss vets have hearing loss as a result. The board that approves products like that, they don't see the results of that, because it's takes 10 years for that to happen. They get five other jobs, but your dno insurance on other boards from other heinous, payouts, without even paying attention, to the fact that they're the individual who are making the bad decisions, right? Like a bedding, a bad decision, you should be using individualized data. Anyway, that's a zero, that's a big fat zero with that is You're doing really well. Next headline. Headline, starts off with Pinterest, CEO colon. Does he have a name? I'll tell you the name after the headline Pinterest, CEO. Says to protect our kids online. Congress must make digital IDs, the National Standard and require OS makers to share. That's you know, that's like Microsoft Apple to share age, validation data with apps, let's blah, blah blah. You don't see this very often. This is in the from fortune.com that's Bill Reddy from Pinterest. You don't see every Tech CEO has said the government just needs to regulate this and we're not we don't want to get involved meanwhile. Like Zuckerberg has been saying for years and years and years to like please regulate like the like social media. Like make it, you know, make it easier for us to do our to provide our products. Meanwhile, the largest Lobby here in Congress is meta, the joke is entirely on us. These guys say all sorts of shit like that, this is another zero great stop writing an op-ed and do it. You telling me you don't have the ability to police something like in your apps online, you could absolutely do it. All right, I'm gonna move on because I think this will help my score this next one. Ready. Melinda French Gates rips into the praise for Sleepless, CEOs, as so dumb. Yeah, that's an easy one, right? I mean, that's an easy town. I did do the research though. You want to know what the research was? They give me a Score first. It's a 10. That's definitely 10. Go NIH says that sleep deprivation leads to and this is like three decades of studies increased risk of hypertension diabetes, obesity depression, heart attack and stroke. Those are known effects. The na to separate study that showed sleep, deprivation leads to lower empathy. Quote, can I get any lower with these CEOs? That's what I mean. Like, quote, the results revealed that the post measurements of both direct and indirect, emotional empathy of participants, in the sleep, deprivation group were significantly lower. This should be a board problem. Like, if you're CEO is not getting enough sleep, and there are out there talking about how they don't need any sleep and their hard, Or whatever the board should step in and be like, do you know what the studies on sleep show that you're a fucking jerk and you're you make terrible decisions when you don't get enough sleep, stop making your employees do it. And stop saying it's a good thing because you are becoming a risk to the company. Luckily, since Americans CEOs are so desperate to chair their own boards, the board the directors can just look at their eyes, they can look at the backs and other eyes to know, they're not getting used to write unlike in Europe where they have to go find the CEO because they're not on the boards. Usually. All right. I like the idea that it's like the usual around the room, you see how many shots of espresso someone's taking and being like you you have to get off the board. Here we go. Next headline, van guards, investor Choice, pilot highlights growing, investor engagement and proxy voting That's from ESG news.com. Okay. So Let me just give you some of the data behind this before. You give me a vote on this one. Here are there, here are their policy preferences. So, 43% of investors chose Vanguard advised policies 30% supported company, borderline policies, which are those, any different than the Vanguard. That's what I wrote down. A different policy 24%, opted for third party, ESG policies that's us worth 30 years old and then 2% didn't vote. So that's what happened. What do you think about all this? So wait a minute. So, effectively what you're saying? Yeah, is, what's that exactly? 75% of people who had this as an option opted, to just let management do whatever the hell they want it Vanguard company alive. You're doing it. Yeah, so so 74. So we're really the headline should read only one in four investors care about their fiduciary, dude. I think you're right. Yeah, right. So why is this headline good when it makes? It sound like there's growing engagement and proxy voting. There's actually no engagement. Well, at least now I have an understanding of why a lot of Cheryl's proposals fall into that like 20% tile, right? Right. They often get about 20%. Yes, now I know why I get. Yeah. That's a really good. That's just care about anything. The interesting part about that is, you know, exactly how many investors are voting. It means only like 4% of those. They engaged investors are voting against the shareholder proposal so I'm going to give this a 0, I don't know. I try. All right, moving on. This is this is a pet peeve for you. You talk a little about share BuyBacks. So how's this headline? Global share BuyBacks fell 35% in 2024 so I guess that's through through September 9th, the years, not over, but according to the data I think this is from the S&P from S&P, that's the name of the company, right? Still, s p. Right S&P. According to their data. Share back, buy back transactions, so far in 2024 but 164 billion dollars compared to last year where was 355 billion dollars. Wow. So that means more R&D for Darden Restaurants, right? Thank God. Yeah, they need to they need to figure out how many breadsticks they can say how to make that breadstick shape like a lawn dart. I actually think the reason behind that number is like a really simple reason. Go ahead. The IRS imposed. Oh no starting in April right percent 1% exercise. You know what the funniest part about this is one percent tax. A 1% tax, this isn't 50, this isn't capital gains, this isn't a massive taxes. Is 1% it got so into people's head. That's not that they're not that that's money. That's Revenue that could have been used to fix a road by me. It could have but well, it wasn't taxed before. So it's like you're getting something still, you're just like, give me a vote, I love this. I'm gonna give this an 8. I'm gonna give it an eight. I mean, this share buyback thing is to I, it's totally legal. I get it whatever. But it's also stupid you have to ask who's making the decision to buy back shares and what their self-interest is in buying back shares because it's not like an economic interests all usually, here's a headline. We covered at another show by one to put a score on. This Tyson Foods sued over emissions reduction promises because they labeled a line of its beef as climate smart. I like that. You can vote on either one you can vote on the lawsuit or you can vote on how great it is to call beef climate smart. I'm only voting on climate smart beef. That's the only thing I ever heard. Yeah. Not only but but if I were to actually look at the lawsuit, First of all, I the board of the directors should be named individually for Tyson every year that they made a climate promise, right? Second of all, you have to include now xcf and ex Chief sustainability officer, John Tyson in that lawsuit. He's like they're the one he's like the great nephew of the founder so like great great, great, great grandson or I don't know what he is. Yeah. And I don't think the lawsuit names any of those people. They just Sue Tyson Foods The Entity but it's the people who set the tarte they make the decisions and set the targets. But the fact that they marketed anything as climate well beef that, you know, just the name is stupid. We respecting. So you you mentioned I think is John H Tyson, I could be John R Tyson, I don't remember. So the story on this kid goes is that first he was arrested for he, he broke into somebody's house and then up in a bed of a woman, Didn't know because he was drunk. And I think this maybe they suspended him for that. I don't remember what they did for him and then later he got arrested again for, ah, oui a DWI, but we were speculating that because his first job out of college, essentially was to be Chief sustainability officer. At Tyson, when he was in his twenties and we think he actually might have been responsible for this climate. We were looking at the dates, maybe it was his genius. That that's right. Okay, this is named to the list of people. I'm gonna give that just climate smart beef, a seven that's that's a great name for a product that makes no sense. Moving on people in this Dutch City will never see a fossil fuel billboard again. That's so this is in The Hague and then another one's so they're not going to see any Billboards advertising. Cars flights cruises. Anything that runs on fossil fuels. Wow. Anything nothing. like, how about plastic and anything in plow? I don't know. That's a good question, actually. A conceptually. I'm I'm fine with this. Yeah. I, I don't know. I, I think that like, I'd like it in theory. We'll make a difference. You think it matters? I don't know. I can't tell. Yeah, I'm gonna give it a six because it's like, right over that line, like say fun idea, you're trying something I gotta say, bonus point for that. I mean, I've spent some time in cities and in fact, I've actually spent two stints in The Hague over my lifetime doing various things. Where are their Billboards and cities? I'm trying to remember. Are there build words enough to make it impact? I don't know. Maybe they mean like in subway stations? Like like posters? I don't see that would be. Yeah that would be something anyway. What's your score? I missed it. I sick. So you got this Amazon raises pay to more than 22 dollars an hour. Gives free Prime to transportation workers. I mean, how about the fact that they didn't already have Prime? Yeah, like, that's the real problem, isn't it? Like, like Prime is free for Amazon? Like, they're the guys who drive? I mean, to the house. And here's what I'm thinking, too, is that it look? It sounds good to get free prime or free HBO, or whatever. But really, I'm thinking for the workers, it's bad to have free Prime because just, it's just an enticement to spend more money than they shouldn't be spending. But I'm just surprised they didn't have in the first place as a benefit. Yeah, if you're, if you are like working at where house driving a truck for Amazon and they offer you free Prime as a perk. When you go home, you know, order something on Prime. It's the guy who works the ship. You're not on. Who's driving. Well, do you. Yeah. Shows up at your door and they're like, Larry. What the fuck man? How do you think? I'm trying to deliver? Less not more. How do you know that? How do you know? It's not yourself? It's like an Escher painting, right? How do you know that you're not, like, delivering your own horrible? Imagine being in the warehouse with the app up ordering something and on the other like, Amazon devices that says deliver to yourselves. 20 I gotta say 22 dollars. I mean I I'm I upload all raises but that doesn't seem like a lot for a driver Amazon. Twenty two dollars an hour. I think that's got to be a really difficult job but what do you think about this? That's a good question. What was the UPS settlement? Like didn't think it was more, it wasn't it like an average of a hundred thousand dollar salary if I'm not wrong 90, I think they gave them a back pay of 100,000 dollars, okay. They basically like we're ripping them off for real long time, but I'm pretty sure that. So the part-timers were 21 dollars an hour, but the full time's were 49. Wait, what? Why would the part terminals only have anyway? Yeah. So what do you think about this headline? I think actually this is just Amazon competing for drivers because the unions and other places are scoring huge deals for their, you know, this is what. Finally, this is why you need an addition in itself is so important because it's not just at the company where this matters, you're right. There's a lot of preemptive Things occur like this preemptive, but that means this isn't preventive. This is reactive. It means that Amazon would not have. This is like a good headline for Amazon, because it looks like they're raising, you know, they're trying. They're like, they're giving back to their workers. But the reality is they had the workers had to fight somewhere else and everyone like covered the number of applications going to UPS after they struck the deal was like they couldn't handle it because all the sudden, the job was actually attractive those workers come from some place. A bunch of them. Probably work at Amazon. These are reactive deals. So, the headline is not actually that good, like the headline is like they're trying to compete now, with, with the gains made somewhere else because everyone shit on workers for so long. And they would have been just as happy to pay them bare minimum. I don't know, I give it a two, I don't like all the only reason why I'm giving it to is that I love the idea of Larry buys himself, you know, Prime something, yes, to deliver it to himself. That's just a snake. Its tail next headline. So again, something we talked about but I wanted you to give it an official score, 23 and me, independent, directors, quit bored. Over unsatisfactory. Buyout plan from the CEO and founder. Yeah. This is the greatest. Piece of governance. I just want to remind other board members. You can also walk out when a dual class dictator does things like Destroyed democracy or doesn't know so you're saying it doesn't just have to be destroying the share price. Like if you see other things happening that you can also protest anything bad that you can't change. That's horrible for you. You can protect. That's true walk out. I'm just saying it would be, this is now that you mention it. I mean, what would be the impact it would be? It would be a fascinating impact at the entire Board of meta platforms walked out. Yeah. I mean unfortunately I wouldn't it probably wouldn't make a long-term distance difference because he would just get some new friends but still, you know, it would have some kind of impact I guess. I just What I hope was something like this is the ripple effect is someone looks at themselves on a dual class board and says I I guess I don't have to do this like it's not it's not necessary for me to Aid in a bet horrible Behavior. What you're saying? I'm giving this a 10 I like I like that. They walked. I love it. Oh, Jamie dimon. This is the headline Jamie. We talked a lot about Jamie dimon. Recently, Jamie dimon is still as is well is still committed to Dei but says he's not. Whoa. So how do you? How do you parse this one. Um, I I have to be honest. Yeah I want to hate it. Yeah, I really want to hate it. Yeah. Because Jamie dimon says is one of my least favorite headlines. Some might say that being still committed to Dei is whoa, right? Yeah well I mean that's yeah definitionally. Yes. Yes. But and Jamie dimon did say that he was a like a full this is like a near quote a full you know red blooded Patriot. Real man Captain. He's a real man. He's manly man, right? Yeah. It's baby heads. Yeah, he's such a man. I think that's what men. Now, listen to me. This is the same guy. Jamie Diamond, JP Morgan. This is the same guy who literally, this is not a joke. This is not a metaphor figurative. Like he literally Matt. He literally took a knee. Yeah, a Chase branch during the protests of George Floyd. So if is that no woke, I don't understand what gesture that is not. If not Woke. I did read somewhere and I don't this was not the onion. He took a knee. I don't, I don't know if it was a joke. I read somewhere that he said in retrospect, that he was tying his shoe when that picture was taken. I'm not kidding. I'm not. Okay. Read that. I don't know that. That's right. A joke. Yeah, but it was like, I read Jamie. I what is so bad about being woke? I don't understand like what I don't what's the opposite of Wok in this in this, but I don't care about the terminology. Well, he does. He clearly cares. What he can't? He can Carol, he wants what he's doing. What? JP Morgan is doing around D E. I mean, he's effectively making the business case that like you're a fucking moron. If you're not thinking diversity, I mean, 100% like you're he basically that's what he said, maybe. He's maybe in Finland, you know how to do it. But in America, you are a fucking moron for getting rid of. She was saying I don't care what you want to call it. You can call me woke. You can call me asshole. I don't care what you call me, but doing this is good for business period, that's better. I will, I would like that. Yeah, I don't care about that. I care about you. I'm gonna give it a seven. I kind of, I kind of like it. I don't, you know, I don't want to but I kind of do. I just like the, I like the the metaphysical conundrum of the whole thing that because it's like, how do you stay committed to DIA? And think you're not, welcome, I mean, really in the current context, Jamie, I'm sorry, but that kind of makes you, whoa, I like the idea that he's like at home parsing, the philosophy and finally for the good games September 24th 2024, I got to end on a good one. I this is Michael O'Leary We talked about him a lot actually, because we reference because well, as this story references, this is why we talk about him a lot. Here's the headline. Michael O'Leary says, ryanair's value is depressed because he keeps calling people idiots. So yeah, so here let me Just background. This is the CEO and founder Ryanair, Michael. O'Leary, he was speaking at the company's annual meeting last week and he said, he admitted that his loose lips might be behind the companies to press share price, which is falling by around. 20% this year. Here's the quote. In Ryanair, there's always some news flow, we're fighting some Union or some minister or I'm calling some Minister, an idiot, or they're calling me an idiot. And quote, I want to be at that meeting. What do you think about this? Um, look, if he's disclosing his big fat mouth as a risk. That's true. That's true. It's closing himself as a wrist. As he should isn't this a board problem, this isn't obviously, but I'm gonna do the quick math. I'm gonna you keep talking. I'm gonna look at what his influence number is in. Our database. Free flow analysts saying they're saying he's saying himself that his fat mouth caused investors. 20% of the share price, where is the board? CEOs, get fired for much less than that. Like, if you were an investor, shouldn't you be calling up? Every board member saying he's says he's depressing our share price, find The new CEO because it can't be that hard to find a CEO who can run this company without calling every minister they talk to you when idiot. You know what, I don't have all the data in front of me, but I'm wrong. Actually, he's not the founder. I always thought he was the father, he was appointed in 94. Yes. So he he actually, according to our data, there are several other Directors, with almost equal influence. I mean, you're right the board could take control of this matter, right? This is a board question. This is this is European investors. I know you don't like to like vote out directors or engage them. You its aggressive. You like to defer to them? This guy just said, he's costing you 20% with his fat mouth. That's what he just said. You can do something about that. He doesn't have to be there anymore. It's your, it's your right. So, um, but that said, In terms of the score. Yeah. I think it's the I think it's the greatest thing to see videos ever said. I mean like it's got to be one of the best thing I'm giving it a 10. It's like it's got to be one of the best things ever said. But don't hold your breath for Elon musk's self-owned about why nobody buys Tesla's anymore. At least at least in blue States and the blue states are the only people that would buy an EV. So there you go. But all right, that's the good game. So you're score for the week, I'm gonna guess it's pretty late. It's pretty low this week now, it's a five a five right in the middle. That's right. In the middle. It's zeroes up and down. All right, that's it. That's all I got that free flow. LLC for Matt's latest data, drop available, all of Matt's data drops, always available free flow LLC, it's good stuff. Good stuff that's hazelnut Rallis. I'm your analyst whole Matt miscarry and like hazelnut, says the data drops include right now, just up there right now you have the independent enablers of totalitarian companies, every, there's a list of Over, I think it's 3,000 directors. Who sitting on these boards and enabling totalitarian dictators at the companies you have FedEx is connections. You have, there's so much data there. That's basically. I mean, it's price, like 50 bucks for for like a bunch of data. Go get that all. So, Get our other shows, proxy countdown where we treat every single company AGM. Big company GM coming up like a sporting event or shareholder Primacy by Mike Levin and Anne Lipton who are literally digging into the deep Arcana of corporate governance law. It's if you want to learn something as fascinating, will be back on Friday to wrap the week until then good. Bye.