Transcript
Live. From. Vanguard's holiday tweet yesterday, declaring we put the, I don't give a shit until Labor Day. Oh, it's an all-new terrific. Tuesday edition of business pants, joined by analysts Hall, Matt McArdle. Hey, I did not see that tweet. I don't even have Twitter anymore. You know where? It's mathematically possible. That one of us is the next CEO of BlackRock, really, otherwise known as September 3rd. 2024, Biz nuggets in a new data drop. Yeah. Hey, it's funny. Copy in the copy. And the writing of the intro, somebody wrote its mathematically impossible. That one of us, isn't it? But I changed the joke. It's I like that was live. Possible. Still possible. You never know what's gonna happen live. You go live. You could change from impossible to possible. Our show today is being sponsored by free flow analytics. The only platform measuring board power connections and performance for free. Why is it free? Nobody knows. And because nobody pays So now it sounds like we're doing a service. You write you want to do some nuggets? You want to get to the nuggets? um, yes. Okay. I apologize in advance for my because I think all of mine are there's a joke being suggested, but maybe I'm letting the audience still a little bit of their own work today to try to figure out where the joke really is, okay, okay, with that. Yeah, it's like our works first day of college, kind of business. It does feel like I'm trying to remember how To sound. I work here nuggety. Yes, she nuggets. That's what these are here. Let's do it. Let's do it. And our we rewrote the headline for you. The forge family looks at its 28 Ford Executives and 15 for directors and sees only two black guys and realizes it's totally the perfect time to honor Robbie Starbucks and spit in the Civil Rights. Hello the week. Well, I wait, what was the joke? That was suggested there. I'm not sure. That's just sounds like anger. That's just soared Executives. Make d e, i U-turn detour from woke past that's the headlines that crappy headline. And let's not let's not get ourselves, it's not Ford executive it's the Ford family that controls the company and controls the board directors. That's correct. Yeah. Yeah because it's a dual class company, isn't it? Yeah, sticking with a theme. Or anger. Well yeah and and Dei policies and our Ford Lowes. Deer and Tractor Supply. Begin bidding war for hopeful new director Bruce Pearl. All four are promising him a lifetime supply of pesticide grown alpha male, sunflower seeds at board meetings, headline of the week. Wait, what's a pesticide growing out? Here's that line Auburn. Coach Bruce Pearl. Doesn't want to know what woke means says. Alabama NAACP, what doesn't want to know but that's the perfect board candidate. Now, it doesn't even want to know what woke me. I'm not even interested. Go ahead, try. I don't care at all. Yeah. That's I feel better about that. Let's stay with the anti. Robbie Starbucks theme for our next one. We have to yeah one more. in our, I mean careful what you wish for because I have two Elon Musk ones coming up. Oh God he's you know. Hey, Ma. Tell Dad to call Robby, stop. Shells, d e, i c e o. Wael Sawan is Lebanese Canadian headline of the week. Shell. To cuts of jobs in oil and gas exploration operations, how about that? That, wow, that sounds woke. That's sounds well, well, depends on where Well, no wise I mean, shouldn't Robbie Starbucks, Target this isn't that like anti-al male or something, but wait if it's only, it only matters if they're cutting those jobs in America. Well yeah. If they're cutting them somewhere else then they're just probably brown people. We don't care about the first place right? All right. Let's I'm gonna do a couple Elon musks and then hand it off to you. Okay? This has been a real rousing beginning. in our, yes, of course, there's airplane. Oh, I'm gonna start on, oh no, I blame Riverside for this. The music is very hot in my headphones, in our Yes, of course. There's airplane, can't do it one more time. If I fail this one, moving on. Yes, of course, there's airplane tires made out of cream cheese and d e. I policies. Written by Elon. Musk's AI chat box Rock headline of the week. That was good in. Yeah whistleblower's a new CEO and astronauts stuck in space. Is there any hope? Left for Boeing? Oh what a headline is there any? Any hope left? How far, how far away are we from Rock? Actually riding Dei policies. I'm excited. Well, look at knowing the trolls at work in our universe. Yeah, that's gonna. That's gonna start happening. Unfortunately. I mean, you pulled another headline. There was somebody who like have some hot pizza. Like, yeah, a new trend, a new trend in Pizza. That was Written by Chad GPT. So yeah, and that was right after police departments. Now, we're gonna be using AI to write up criminal reports. Yeah, and it's gonna go. They know it, they hallucinate they're probably gonna put wrong people in jail and an MIT research study saying that AI is sociopathic that according to their research study from MIT that I saw Too. And like this is all well, these open high open AI, chose him by Sam Hunt. So as the board of AI said open, I said, whatever's an hour. Because I own it. You pour Lotus, testosterone shitheads Headland of the week. Elon Musk thinks he knows why your ex feet. Might be getting more toxic. Oh, he owns it. Was it was that? Yeah. All right you take over for a while. All right I'm gonna go a long while. I'm gonna take a break here. Are you though? You got a lot of headlines. I mean, I have a couple. All right, by a couple. You mean, Eight nine. I'm going to just do the same headline you just did because in our it's your fault headline of the week. Elon Musk thinks he knows why your ex feed might be getting more toxic. Did you read the story? Yeah, I mean that's not actually a joke. Elon Musk is saying it's your fault because you click on. If you spend any time on toxic tweets, right? The algorithms in you more, talk to you. Yeah. Your friends to be outraged about how toxic it is and that is why you're getting more toxic. This is why beat I beat the system. Hey, I don't have any friends and be I don't use Twitter anymore so I I sold the problem. I just love that. It's not. The problem, is that there are toxic tweets. It's the you keep sharing them, that's why that's it. in our, Massive AI development of the weak. AI can tell if you're racist by the color of your shoe strings where this is a real know, the real headline is Google is developing AI, that can hear if you're sick, this is so far along, I am in 2024 is that I heard your joke and I thought that that sounds plausible. I was buying you know is apparently this Google AI listens to a voice snippet and can tell if you have to tuberculosis why? Because you're because you're coughing up blood, I mean like I'm pretty sure that Point. You can hear it. Anyone can hear it like that. What you're in the ER, it's like when I flew to France a couple weeks ago on a giant Jet and heard 80% of the people coughing, I knew I was screwed. You were that was it? Yeah, that was it but you love. Congratulations. Google. You got a lovely trip. In our new study finds Pizza on hot. Wings were responsible for 33% of covid, death risk headline of the week. New study finds will govee reduces covid, death Risk, by 33%. I don't quite understand. First of all, thank you for saying. I didn't know that it was we govea. I always thought as we Govi and second of all what's going on, they these drug companies. Now with all these these fat killing drugs they basically claimed it solves everything right? It's growing hair on Turtles. It's reducing the risk of death. I mean what is this? It's not the drug that's doing it. What is? I think they're just finding that being oh, waiting healthier, everything. Five being healthier is actually here. That's what they're, that's what the studies are finding. But they're only fighting it out because people are taking these drugs and they help you get. All right. Okay, that makes more sense. I just love that. Now we can blame covid death on pizza and set of wokeness like that makes me feel better. In our big fat mouth says, his capitalism is better than your capitalism headlight of the week. Kyle bass says blackballing oil, was always a lost cause for ESG further two things here. I don't understand. First of all, what is blackballing oil? That sounds ridiculous to me. Let's talk about who the hell is Kyle bass. These a hedge fund manager for the Once Upon a Time. And, and he's decided that I calling oil because he's also based in Texas. He's he's on like a Texas Board of Fish and Wildlife or something, who is blackballed oil, who has done that? No no one's called in like Idaho or something. I mean, it's not a thing that's really happening. Like, I want to meet that. I want to meet the capitalistic Enterprise that has black balled oil. It's it's a guy with a, with a braid. He hasn't taken out in 43 years based in central Vermont, in our, Company appoints guy who rented cars to oversee Advanced semi-conductor strategy headlight of the week. Lamb research appoints Ida Brennan and Mark Fields to board of directors. What's the where's the joke there? So here's your data drop alert. Yeah, Mark Fields. Was the ex CEO of Ford and the interim CEO of Hertz rental cars, okay? And lamb research does incredibly high-tech transistors and semiconductors. I wanted to know. I actually did the research. This is what the data is. I wanted to know. Does that mean that they added somebody with a knowledge base that was useless for lamb research? And it turns us, it sounds useless to me. And it turns out the answer might actually be no because the board already had 22% of the board was computers and Technology the influence on the board. Another 8% was engineering, another 11% was Communications and media. These are like tech savvy people on the board and adding Mark Fields. They might have had room for guy who rented cars for a while. What's that metric called? What is that skill called that skill? Is called relatively useless? Know? I think it fell. It fell under mechanical or something like that, economic falls under secret way to destroy, public transportation infrastructure, but look up on our website. Now you go to the data jobs section of free float dot LLC. That's right. And you can download lamb researchers board, and Company overview their knowledge map, every single director on their The, our estimate of how much what knowledge they have based on their bios based on the titles, they've had in the past, based on boards, they sat on all that kind of stuff. So we we extracted it all, made it all there and it's it's on sale and 25 bucks and there's a better. My favorite. There's another one from last Friday called Dei U-turn board flag. I love this one. This is your your looking at all the directors who might be Reversing DIY policies at Future boards, right? Basically oyster six boards that reverse did d. I u turns themselves and we said what other boards are they on and who are their friends and and said those are the companies actually, right? Come on back to the jokes back to the jokes. There were having been any yet in our, you're welcome headline of the week. GOP. Run districts, get 85% of the benefit of climate law. And some still hate it. Yeah. You've been talking about this for literally years. Look, I want everyone to have good jobs so I don't know what to say about this one. I don't anymore. I want I want all the climate goodness for myself. In our they also heard my recipe for Lemony, broccoli headlines of the week. In leak, Facebook partner brags about listening to your phone's microphone to serve ads for stuff. You mentioned. You know, we just had this, this conspiracy theory in my house. My wife asked me to get her Gatorade Advil and cookies because she wasn't feeling well and I shit, you know, I opened up my Hannaford app and the three of the first coupons they're offering me were getting ready. So they know what's going on. I don't know what's going on. I if you have a microphone on your phone, of course, do I have a microphone on my phone? Turn it off. I think I actually do. Yeah, I'm in the market for a flip phone. If anyone has one good works that all they have a microphone too. Well, they don't have any apps that in our really a country, not having access to a middling and toxic social media platform, makes it uninvestable. Billy headline of the week. Bill Ackman says Brazil's ban on X will make the country uninvestable, like China. That's I'm glad you talked about this one, this one really got under my skin. Can someone wake Bill, Ackman up and tell him that we've been investing in China for 25 years. Not to mention that. I mean, how many, how many literal news sources and social media Outlets are there? Probably 17,000. I mean, we, there's one, there's one that rules the Earth not to mention that, I'm looking at. There's only there's there's they've cited 20 million Twitter users in Brazil, a country with a population. Well over 200 million and that's I don't even know if its 20 million users are all active. This this this that's this this that's the most important one. What are we talking about here Festival? What are we talking about here? I don't understand. This is like the Pinnacle of professed Jack and each other off. I got a Bachelor's degree, I've got a master's degree, I am a News Junkie my whole life. I don't ever use somehow I managing to stay connected. I think you are doing on the merits. I'm pretty sure this isn't about Merit. I'm sure this is Justin bro. All right, this is my last one and then you can wrap us up. in our, Is Dave Calhoun's laughter a strange noise headline of the week. The Starliner spacecraft has started to emit. Strange noises? Is that, is that strange noise failure? I don't know. That would failures sounds like action. The actual noise is like a pulsing beep. And like it is. It's probably like an error message, but I like to think that it's cackling. That's what I like to think. All right, I got five more. The first ones epic. He said first ones a novel. All right. Good. It's really my Ode to John shabbaton and Jameson. This is gonna be our shortest show ever, he just? Yeah. Yeah, but not after I read this, not after this, I need a lot of energy for this one. in our, John chevin. Has already filed a shareholder proposal. At the company's 2025 annual meeting. Requesting. The preparation of a report updated annually. Presented to the corporate responsibility committee and posted on Wells. Fargo's website, disclosing won the average days. It takes to find dead workers at cubicles. The feasibility of hiring high functioning olfactory, experts for each cubicle cluster. The board is already urging living shareholders to vote against the proposal because CEO pay already has an individual performance modifier. That decreases, the annual bonus by 0003 percent. If average worker cubicle deaths are discovered in an amount of time, greater than 2.33 business days, headline of the week. Oh my god. Wow, wow. That was a terrible. I fired, I fired the intern that wrote that joke. Did you write after you got it or sorry Gus. Here's a headline. Wells Fargo worker found dead at her desk four days after clocking in That is impressive. Sorry, I'm sorry to make fun of this but it's a publicly traded company. I have to its part of my contract here, I do actually the best part about the joke, I'm maybe you need to rehire. Gods was the 2.33 business days. It's like two and a third business day to find them. Imagine it like three in the afternoon on the third on the third day. Yeah, till like three in the afternoon, you're like shit, we're just past the cutoff time. Yeah. Where's Rachel? Where the fuck is Rachel? He just lost our executive point. Zero, zero, three percent. and our we rewrote the headline for you, part two. Facebook company, busted. Showing off board of directors with board committees that actually have humans inside headline of the week. Chinese company. Busted showing off humanoid robots that actually have humans inside. Oh this is like that. It's a nice TV company. They were they let it, yeah downhill and they claimed it was a test of one of their new EV trucks. Yeah. Well, an hour, yeah. when reached for comment, Black Rock said. That's cute, but I've got sandwiches to make. Headline of the week. BlackRock support for ESG measures Falls to new low. Oh, Did they make the sandwiches that comments? Pre dismissive? That's pretty rude. Did they, how did they have the time to make the sandwiches at least, though? in our, when reached for comment, part 2, Vanguard said. My cup of care is empty. Get it deep, my cup of care. Yeah they're saying they don't care. I got that. I got it. It's the weirdest way to say, hey guys, this is Van Guard. This is like, this is like Left Coast elitist here. They know what they're doing. Here's the headline. Vanguard backed, no, zero in fire, environmental social measures in 2024 proxy season. So, that's where they had the time for that. Pithy response. That poetic response. That's right. They don't give a shit. Get away from me, but they came up with something clever. I like that. They may have. I didn't tell you, but Gus interned at Vanguard right before we got him. So, yeah, well, the good news. Is that correct me if I'm wrong? The current Vanguard CEO who just took over from tip for ten bucks? Lee is from BlackRock, right? So yeah, that's true, right? So it's all, it's all good. It's all good in the hood. It's all. It's all in the family. And finally, and, and this joke, really, I don't, I don't even know what it means, but you know breakfast, good breakfast and good Ender in our Msci, announces new ESG metric, red flag headline of the week. Here's the headline plastic in our brains study shows a 50% increase in just eight years. So I don't know what they're talking about. So are they gonna measure the plastic in like board members brains? Is that what they're doing at msci? Is that oh, you know, about MSI? Is that an msci paper? I don't know I but I think I'm pretty sure. And if you're listening from msci, call me out, if I'm wrong that they are now gonna measure the plastic in named executive officers and directors brains and that's going to be. I think it's over a certain level, it's going to be a red flag. I think that's truly fabulous. I mean, finally, and ESG data point. That's relevant, right? I mean, we've already missed the worms in presidential candidate brains. We might as well go for the plaza. I don't like that. Anything else you want to get out of here? Anything free throw. LLC know. I want to plug two things. Yeah, actually, I'm gonna plug number one. I want to plug, go to the data drops and get free float dot LLC. Now, this is not our database that we plug all the time. People, analytics.com. This is our, these are corporate specialty data. We're sorry, we have so many entities. I'm sorry, I have so much data to give you that you that make your job easier, I'm sorry about that. But number two, I do want to plug, I know I mentioned it last show. Shareholder Primacy. The new podcast coming out. Oh under the free float media Network side. I'm excited. When Mike Levin and Lipton who are like a real human. I don't know how we got them to agree to do a podcast CEO Block rock, who knows. But we are putting it out and it's coming really soon. We've got the orange on we've. We've never been two episodes. We haven't settled a lot of first date, but within the next two weeks you're going to see podcast drop and you, you just need to subscribe to it. They actually are experts and stuff. Yeah. Where we actually just To make really bad msci. Plastic brain jokes. Yeah but we have this music. Do they have this extra? They have no me, no good music. Yeah I made sure about that suckers but two suckers that's it. That's hazelnut Rallis, I'm your anus don't Matt McCarty, we are free float, come back on Thursday, we've got a proxy countdown, our first of this proxy season, we're kicking it off for this year. We're back from the summer, doing it all. And then on Friday, we're gonna wrap up the week until then goodbye.