Transcript
Yes, live from the ISS decision emulator 5000. Where every answer is either, maybe or perhaps. It's an all new terrific Tuesday edition of business pants. Joined by are the data queen of and let's hope Matt mascardi. Yeah, there's no one, that that's not showing up in like one person who likes that joke and today's combined CEO chair called May 14th 2024, the good game, and the top five list Throwdown show, hell, yeah, show with the name. That's so hot. It's sticking. Here's a cheese for the audience. I already peeked ahead. Matt's list is way better than mine. Hey, oh, he went. Stay tuned for his list. I like how much of a Throwdown, that's terrible. I didn't even come to the list. Our show today is being sponsored by free flow analytics. The only ESG data platform to measure real board influence and diversity power gaps and a lot more and a lot more. Well so you complain every week that I don't rewrite the copy, I rewrite that copy I did. Did I yeah it's like down in like another like show like you didn't even copy and paste it from the last show. That's I was out for a week. That's how lame this was. All right, so let's let's do the good game because I usually Um, yeah, we have this. That gets us everywhere. Oh, we don't get music. There's no good game music. Here's the good game every few weeks. I pick headlines that seemed good. I asked or steam pundits whether they're actually good. And they tell me that by giving it a numeric rating between 1 and 10. Last week, Matt was last time, Matt was an incredibly great mood, average out and eight weeks. Are you a depressing sick? That's not even depressing, that's above average. I though looked ahead at some of these headlines, and let's just say, I didn't even read the headline, my what my radio are not going to be high. I mean I tried different himself. I tried, I earnestly I do play this game, honestly, I really do try to pick the things that it's not always things that I think are good. I think it's things that I wonder if the headline is trying to think trying to make audiences feel like it's good, like, oh, we're we've solved climate change by putting out a t-shirt, made out of a mushroom or something that's, that's very meta. Just you? I think you gotta go back to your house and just pick the ones you like, let's go. That's it. You already had the music go. This one is real. I feel like this is for our oh, I've split up the game. This week into three categories, and E category and S category in a job. And I'm looking at you are, this is for the Nerds, all the e, headlines, world's largest vacuum. To suck carbon from atmosphere turns on for the first time. Oh, boy. Oh, I can't believe this is a thing. First of all, this is a Swiss company which of course has operations in Iceland. Come on, can we? Give Iceland power know, but you know why they did in Iceland? Tell me. Because the amount of energy it takes to take carbon out of the atmosphere and turn it into something, is higher than like, it would take so much. You'd release more carbon trying to turn the carbon, you something, okay? You're so they went sway, the winter Iceland because they have geothermal vents that they're using for the power creating a place. You're creating a bias. Yeah, so I feel is just gone down. Alright, what's your score? Are they only removing it from Iceland? Yeah, that's right. Like, get their seven. Yeah. What do you think Ari? Don't. carving removal is a, it's a tricky one for me because Has anyone developed anything that actually works? I don't know those three of us other than our products. How much money on it? I'm gonna give this a three. Oh, That that might be generous the company that did it climb Works. Yes. Climbs Works. Can we write the name? Horrible name, horrible name. They, they have gotten nearly a billion in financing. Wow, to do this. And so putting up this project costs, hundreds of millions of dollars, at least right? I'm sure they've got government subsidies and whatever, probably cost even more. The amount of carbon that it removes is 36,000, tons of carbon Per year. Not a day which I read is the equivalent of taking about 8,000 cars off the road, which I'm not really feeling that great about. They sell 8000 cars like a day. Yeah, this is these carbon capture in fact, the CEO of this company is hid in. His optimistic, appraisal is by 2050, carbon capture will have a cost parity with other forms of carbon removal. So by 2050, we can start actually removing the carbon from the atmosphere by then we're dead. What do we do doing? What is this? So dumb, I'm just zero. So it sounds like you're blaming the investors then because without that seed, money that's never would have happened on the board of this company is the VP of shells carbon capture. This is like, this is like this. I feel like we're being gaslit by even turning this on and making a headline unintended. That's a good cheese to our show. Proxy count on this week where we're covering three giant oil companies. And to my list this week on the show, I'm looking at integrated oil and gas. All right, so that's a terrible start to the show, let's move on. And forget about that one. Next headline, Renewables this? Okay already better, this made me feel good Renewables, generated a record 30% of global electricity there. This, we're over. That seems like progress to me. I agree. Yeah, I agree. I'm gonna give this a nine. Sorry, Darren Woods. Yeah, we've watched a lot of Darren Woods interviews in the right. Yeah, I love the fact that Damian, and I pre-production for the show this week, spent probably 30 minutes talking about his body language in interviews like how uncomfortable he was a certain questions. If anyone wants to know what we're talking about, Google YouTube video, Darren Woods, CEO of X on Mobile's, talking to two reporters at Fortune media. And yeah, see when the questions get on the topic of things like shareholder activists. He starts to turn read a little bit. He searched just shake a little bit. Yeah. All while trying to stay in the CEO you know good manner he's literally you can see him processing the talking points and the talking points how badly they can flick with the I fucking hate. Right? Like does that in his head and he does the Jeffrey sonnenfeld, which is he. He manipulates with language because he used the two words when talking about Shirley activists like Arjuna capital and follow this, he said Hijack and abuse and hijacking, the system and they're abusing, he made the distinction between their real investors and then the hijack abusers. Yeah that was a I'm giving this a 10. I'm giving this one to get back to this. So you've redeemed yourself because the first one sucked are you gonna hate this one map? But I kind of want you to weigh in on this because I think people want to know. I think they really do eat you Finally issues final new rules for funds using ESG, or sustainability names to address greenwashing wrist. Is this Gonna Save the World? What do you think? Okay, so is the EU telling people what is greenwashing and what's not? They're trying. Yes know they're saying if you use ESG or sustainability in the name of a fund that you're selling, you have to prove. But there are perimeter right there are certain parameters like you can't call yourself sustainability people. You're about it, there are parameters. All right. You know, this may bring back some credibility, I don't know at least they're trying oh I smell a five coming know, maybe what do you think are I was gonna go for a six. Yeah, there it is. Um, I also I'm gonna go for a six, it's barely. It barely registers is interesting. To me, here's the super, super nerdy, one final headline in the E section. That's e e, Landmark sections to Landmark. Transmission reform, could dramatically speed US Energy transition. So basically a nutshell new rules will allow the US to connect a lot of energy through the grid. Yeah. Hi I heard I read this yesterday. This is first First Federal Energy Regulatory Commission us only. This is the sleepiest regulator of all Regulators. Like for you, what the fuck if they've been doing for 10 years? They've finally woke up and said, oh yeah, the grid should be updated like okay on election year. No less I love him. Sorry. Yeah. You're right. Who's like? I don't care about the first year. Literally, like the voters are finally. Like, I finally, I love what they're doing with fur. There's a four vote. I love this. I like this, you know, details. I'm gonna give this a 10. I mean, this is a very hand. You got 30% Global electricity from Renewables? Got a nine. Yeah, only because I don't know if last year it was 29% this morning, it, let me tell you are. This is this seems like such a victory that there was actually on the environmentalist side, there's actually no dissent. There were applauding, the only people who hate it are conservative. So this actually might be a good thing. It is a vote. It's a voter play, I'm giving this a and eight. I mean. Oh, all right answer. Let's move over to the S category. See what I'm doing here. Yeah, I know and this stands for social and stupid. Okay. Stupid at the door. This is she game show. We're in the S part of the game, social and stupid first one. Seems like a no-brainer workers at the first Apple Store to unionize, just voted for the first strike against the iPhone makers retail business. This is happening in Maryland. Outside of Baltimore where if any indication of the Staffing at the store? The picture that they showed of the union members? It's a, this looks like a mostly black staff. So, this is a very interesting turn of events here in the Apple world. That's cool. You know, I like this is pandering to Ari know, I'm not pandering. This is just the facts. You know, they utilize and now they are taking action. Yeah, there's a 10. This is an aerial say that they've tried for rights. They said that they tried for over a year to go to negotiate with apple. They're unhappy about unpredictable scheduling practices and they want wages that align with the cost of living. How dare? They, All four it. How can you not give this a 10? Come on tonight. Crap on it. How many stores have unionized for Apple? I you know I don't think it's very many on us. I think it's like three. Yeah, I think they're negotiating power is basically none negotiating power but you know, there really there are no there's really no successful musician at all in this sector. So maybe this is the start of something, I don't know. No this is I mean, I would not call this this sector. It's not like the the, you know, like the software programmers and Silicon Valley Yes, of course, still record. That's still that's skilled retail. Oh yeah this is a lame Matt. What you get, what's your score? Um I think I like that. They unionized and are striking. But I think that like until Sean Fein gets involved. I don't know that. I care that much. So I'm gonna give it a six does. Sean Fain have a sister. Yes, I have no idea. Do you know that Emirates the PowerHouse, Middle Eastern Airline, he's giving staff, a bonus of 20 weeks, pay after a blockbuster year, record profits, 20 weeks. Yeah. So it's that easy. Wait, wait. So before you vote. So let me just do some popular math here. If you get a really big profit, you can give it to the workers. You can give some of it. This is wonderful. I saw this yesterday. I was gonna pick up for Friday. I'm gonna give this a 10. The only problem are is that unfortunately we don't we don't cover this company. It's actually privately held but still cool state run company. I believe a state-run company by wherever, I really hope it's not our database at least, I'll tell you that. He's a run out of is it Saudi Arabia owned? I Yay, are you? I believe I should know the answer to this. Shouldn't I? I don't because I don't it might actually be in Dubai where it's headquartered I like this on its face and I know it's pretty face. I know that pretty good face, but I know that if this was a publicly traded company the stock would crater. Oh, that's like that's what you know, right? Like like there's no you do, but you definitely know that. Like I definitely know that would never have. I don't know how underpaid they were prior to getting this as a bonus. Okay, I hear you right? Like, so there's too much, I don't know. So I'm gonna give this sick because I don't know, is a seven Elise. Yeah, it's a six and finally in the social and stupid category, this one's for you, Matt roaring. Kitty is back on social media and meme stock Game. Stop is sorry. Is this good? We always talk about the democratization of everything, right. The democratization of fine Tech and all this bullshit is this a good thing, Ari Tech, you're the crypto Queen. It's only good if the people who, you know, the last time this happened, I hope they held on and didn't sell it. That'll be that make me happy. We didn't come out of the gate and say, like, I'm long Game Stop. He actually his first, the first of all, it was rumors that he was back and then he tweeted for the first time in a long time. And the Tweet was a picture of him leaning forward. In a chair, this is like you're talking about, right? He tweeted a picture of a stick. Figure leaning forward. In a chair, he said, nothing directly about doing anything, but the fact that he exists again, It's now everyone's going crazy on GameStop. Everyone's like, let's, we're back, baby. So we're back. Do you like this? I mean, do you care? Look, I love this entertainment because it's entertainment. Yeah, I don't like, I, I wish roaring Kitty, I know you're listening to this show. I wish you would use our data to make your next argument. I love that you say that because I was wondering to myself, this actually will have a bit of an effect on our performance data for the directors at companies like GameStop and AMC, right? Like, they'll be an artificial bounce right in TSR for some of their directors, right? That is one dude. That is true. What I would like roaring Kitty to do is a meme proxy vote. I want them to vote out a bunch of directors like forget like just the stock and Diamond hands you know take control of a company like a magic getting all of Wall Street bets to basically buy like so many shares you could vote board members out what and take control. That's What I meant to there was a very brief insinuation into that. What you just said in one of the movies, I don't know if it was the the documentary or the or the, The Narrative based movie based on, which I guess was a lot of bullshit. But someone did mention that someone did say like, hey, why don't we get, why don't we vote some directors out? Why don't we put one of us? Well, one of us on the board. Yeah, one of the Apes. Yeah. So I'm gonna give this a seven because I actually like that. It's, that it's happening. But I, it's reserved, I'll go with the seven as well. Yeah, that's right. Okay. And finally, and the good game for May 14th 2024. Let's get over to our G category. This one is my favorite. This one is called for the Geeks. This is the key category for the Geeks. First one right out of the bat, this is the actual headline. Nintendo nominates three women to its board of directors? How about that? And let me a little Bit of background here. The first woman to join Nintendo's board happened in night in 2020. Okay. Only four years ago. Okay, four years ago prior to that. There have been no women on the board or part of the company, Senior Management since its founding in 1889. Wow. So this does feel like a victory. Did they mess up? Yeah. Maybe they call the wrong people. I think maybe he was a name, like a Japanese name, like Pat, and they were just like the English Ashley or something. Yeah, yeah, exactly. So, if you're looking for progress in the world, that might be right here in Nintendo's, I'm gonna say, I don't know. This is a five joining the 21st century, and now maybe there's some shit happening at Nintendo right now that we don't know about. That's gonna come out soon. Oh interesting. A glass better. Get the women to cover well, but There is a slow roll of their next platform like it's like switched to or something. So maybe the women they had the women to like apologize profusely when they delayed for when he said every day that. Three. Women get nominated to be a board of directors of a public company. So I'm going to give us an eight. I never mind the listening audience that how slow progress really is. It wasn't until 1971 that women had the right to vote in Switzerland. Okay. So So let's let's celebrate things when they happen in that context in 1991. It's like, it's not even the right date to use. Yeah, all right, here's this headline. I just put this one here. So I really want the last two relates to see what you'd say. Today is Mark. Zuckerberg's 40th, birthday. headline, I want to see if you think it's I want to hear your opinion on. I mean, what? They stopped counting after 95. Old Mark turning 40. What do we think about all this? Is that good? It's shocking how young he still is, but how old this is for the culture that he helped build my head right now. With that comment, forty forty year old to Mark Zuckerberg, when he started Facebook was like a Granddad, you know. It doesn't fit the hoodie, the boy doing this for 20 years. He's been destroying Democracy in America, the social fabric for 20 years, and he was the longest tenured CEOs in our database, right? He's got to be up. You know why? This is horrible? Because he's only 40. He's got like 30 more years, more, most likely of doing what he's doing and fucking with America. And in the globalizing social fabric, I think this is horrible to me. The reason why I thought this was good because I I actually think that his run is gonna be over soon. I think he's gonna pull up a Bezos and a Bill Gates is going to disappear soon. Yeah, I agree. I agree closer why you're closer to his disappear. So by that, you mean he becomes executive director has absolutely. No accountability still has all over forever. So that is what you're talking about. Yeah, talking about good. I give us an eight. Oh, somehow sucks. All right. Let's switch gears for this last headline. This is in the gate category Tesla. Has so many unsold cars that it's storing them in an abandoned mall parking lot. How about that for a headline. Sadness, on top of sadness, that's a funny headline, come on. Ball parking lot is abandoned mall, parking lot, abandoned Mall says like, all right P, mauls, they no one goes there. All. So R.I.P tests what's happening? Did they just get really good at building? Them that they were cranking them out or people actually like I don't want to buy a car from a crazy person there. Is important. All right, there was a there was an article in my local paper up here in Maine. The Portland Press Herald about there are two cyber truck owners in the state of Maine, okay? Only shaping them. And the article was really focusing on, how all the guy gets is abuse. He gets people spit on the car, they give them the middle finger, thumbs down, they've scratched it. This is the world of Elon Musk. This, this is because I think without Elon Musk, I think they'd at least be selling the cars that they're making. I think there's just people are just at least in some of these blue areas, like poor, I think people would just be straight up. We need another car because the like, I have like a 10 of 13 year old, Honda Fit that I'm driving around, I can't fit the kids in it. So we need another car and we're looking for, seven, Cedars and Hondo, Honduran. Toyota, I'm making, aren't they making like hybrids? They're making them but they come. They always calls like 70,000 dollars. So, Like really expensive super don't? They have a big Eevee, a big SUV right there. It's also there's you can't get an e for less than 60 well, and except for the Tesla, which has a seven-seater and I refuse oh, no court. And my wife was like, would we look at a used Tesla because that doesn't go to Elon Musk? And I was like, no I'm not, I don't want to drive, why? I don't like your wife's logic. I don't want it. So like we are actually looking at minivans. We've been like looking at like to go back to like 1990. There's plug-in hybrid minivans, that are, you know, I think our neighborhood. That's awesome. Yeah, I think they have a Toyota version of that. I think they have the Chrysler plug-in hybrid is okay, it looks amazing. So I'm gonna go test drive that, just to avoid you Elon Musk. That's your fault. I love this headline. I love this headlines too. The only 10 for the true 10 for the week for me. All right. I think, I think we need more headlines like this to embarrass the directors and two, Doing yes about it. Well I the other headline I didn't pick because it doesn't fit into the good game but it's just irritating me like nothing else this week is that Tesla, the car company, you know, run by Kimball musk AI company, which which which does which famously does not advertise right? Despite the fact they have all these unsold cars, they do not spend money on Advertising, but what are they spent, what money are they spending on Advertising right now? It's to its to pass the page literally spending money advertising to pay his Stupid PayPal package. I'm hopeful that this election season for for a Tesla's board. The headline is Tesla's board is being stored in an abandoned mall parking lot. That's what I'm hoping that headline is. Oh, it's wrap up the good game. So our we're back in the normal part of things are. He's at the 8th this week, in Matt's back at his sixth. That's six. Sounds generous from me. This week was not great but that much of a Throwdown. I'm gonna go quickly because my list sucks. What do you got? I will tell you that I did put a considerable effort into it. So we're covering three integrated oil and gas companies in the proxy countdown. This week, Chevron Exxon Mobil. And what's the third one and shell shell? So I pulled all 24, integrated oil and gas companies in our database. This is from across the world. There's only actually three us companies and I wanted to pull out some data, but I tell you this was just like this felt like an old boring msci report so I I was struggling. So here's what I landed on here. My five takeaways out of those 24 companies. There's only one with a female chair, only one. Oh well that's obvious galp energy and the only reason why she is a chair there is because it's a family held firm. There's only one company out of all those that has a female CEO and surprisingly it's an American company that's Occidental Petroleum where Vicky Holub is the CEO. And a few other interesting things about Occidental Petroleum one, it's the oldest board out of the entire sector. Average. Age is 70 and 20% of the board is named Vicky. Oh, you don't see that the chances where the chances two women named Vicky on that board? Yeah, I am really excited to like for them to have like dinner at 4:00 as a board, right? Like what a great at Vicky says Vicki's house for dinner. My fifth data point that I pulled out of this horribly boring. A list of data that I pulled was that and this is I am only mentioning this because this is a I'm gesturing to the US tech company which can't which seemed to be only run by dictatorships? Is that these 24 companies, only three of them are dictatorships. Only three are run by a director who has over 50% abort influence and there are two of them are In China, and one is an India. So I applaud the sector for that at least right well actually this is the state runs, right? Like that, we don't catch those because the there's not a director from the state necessarily. I don't them, they're just all right, but I didn't want to, like I wanted my day to be more impactful because I was kind of like, you know, it was cherry-picking a little bit there to make it sound more interesting. That's good, that's it. That's my list. What are you? All right, so it's time for my list in the list Throwdown. So there was a meme that's been going around that Jesse the money whispered on our slack called, so many dicks, you know, Vicky not Vicky not Vicky's dicks. It's by elf Beauty, who put out this campaign about the number of dudes named Richard, Rick Rich dick on boards and they said, the campaign is there more men named dick on publicly traded boards an entire groups of underrepresented people so many dicks so few of everyone else. So I took the campaign to the next level because why stop at just counting the dicks? Let's start finding out Dick Power dick. So this is your top five dick. Powered boards is what I what my list is. And these are boards where the influence held By men named Richard Rich, Rick or dick? That's how they identify our database. I will already say that. I'm gonna guess that none of them are oil and gas companies, because I was impressed out of the 290 directors that I looked at for my list, only three dicks. Oh, really? Yeah. Well, so yeah. None of the top five are oil. There are 552 companies globally with a dick on the board and this is a quick quick look so far. It's two but a winning horse already, a winning list but this is and those are boards that wear the dick isn't a founder or family member of the founder. So I excluded by dick. You mean give me a name? Give a name, you know like I'm not using some very euphemism, I'm saying their name dick but this would be an interesting policy for issue. Maybe we vote against they already. Had the name policy that's been there for 4,000 years that if you don't reach a certain attendance threshold, we vote against you automatically. How about her name dick? You automatically get a vote against how about that? One vote against I don't think what hurt. All right. The 552 companies with a dick on the board. Yeah. 154 companies have dicks on the board with more power than all the women on. Right. So um, so so here's your top five. Number five, Spirit Realty Capital which is a Reit. It is 29% dick powered a third, just under a third of the powered, that's a lot for each. One of these, I did a dick to female power Gap. There's only a 2% dick to female power gap on this board meeting women. Making me very uncomfortable. Yes, all the women control 27% of the power where the one guy named dick Richardson? This is not multiple dicks. This is just single dick, single dick, single double triple, it doesn't matter as many dicks, as you can fit on a board. Okay. This is influence. Most of these are actually single unit dick. Oh, okay. Well, is that cheating? I guess it's not cheating. It's not cheating because like that's that's the power they have. Yeah. All right. Number four. Cbiz Inc. It's a research and consulting firm. It is 31% Dick powered, okay? Signal dick, the dick to female. Power Gap is also 2% and there are two dicks. Richard Burton double the double dick. Oh, that's unfortunate. That's a horrible dick. Burdick is not. Oh dick, Burdick, in fact is a double dick dick. Yeah, it's a double dick board. With a double dick named 28% of the influence for that guy. By the way Apple, I just called. They said they're not they're not going to put this show on their podcast. They're not gonna let us not my fault. This is just the name is the people named Spotify will though, they're going to put her right on her. Joe Rogan show, 20% of the influence, he's the chair and the X lead independent director. He's the paycheck chair, he's on the not only and his material related transactions with the comment, really Are Richard maribito, 3% influence. So he's so there's big dick in small dick on this board. 28% 3%, he's just an audit member. He's like a random extra dick. Yeah, D Now Inc. Trading and distributor D. Now did you know? Which is almost like dick. Now. It's 43% dick powered the dick to female power Gap is 34%. Ouch. Whoa wait. There's only nine percent female influence on. This is only 9% it's called Dick now so I kind of you know, I get it. Richard delorio is the name. Dick 43% influence. He's the chair the ex CEO, so he's one of those executive chairs, he pays himself. He's here. What is not? It is not a controlled company, he's not the founder and he's on the committee but oh sure. All you shareholders? I know all the deed, the dick now, the denials are listening right now vote against this entire board. Let's tell you, X CEO is your page here? It's stupid, it's pretty bananas. Yeah, number two, ribbon Communications, they sell Communications equipment 53%, dick powered, we're now more than half tick, powered, wow! Um, God! There's so many 37% dick to female power Gap and it's just one guy Dick Smith, Richard Smith, 53% influence, he's the executive of the controlling shareholder. So he is a controlling shareholder. What's the number one? What's the number one? At least? Oh yeah, we do need a drum rolls and then I'll say it again, right? Who's number one? Nobody knows. So this is just say it the most dick powered company in our database you know xpel Inc. 603 per cent dick Powers. It's one guy. It has a 60% Dick to female power Gap. And what is the industry crumbly? What is industry? It is, of course, of course, Automotive Parts and Equipment, right? I mean there's not make sense that makes sense. Yeah, it's perfect, Richard. Crumbley is 63% of the influence of the board pay committee Nam chair audit committee. He's not an executive but he owns 5% of the shares. He was an early investor. Okay, brought them public and still owns that many but I do have one bonus dicks for you bonus, dicks. Okay, your question, the company with the most dicks on the board is Market access spelled axes, because excess Market access Market excess. It's a financial data company. There is a Founder on the board, but they had three dicks on the board right now, and the dicks have less than 3% in Florence. Yeah, they're all Small dicks, but there's three of them. so, so now you have to you have to pick your winning. What's your what's the winning list here? Well, It's a no-brainer. Really? It's our choice. Go ahead. I had to stop myself for making more dick jokes. It's terrible thing. This is Hoodies for all this elf beauty or whatever. Yeah, I want to say this bonus fact, elf Beauty elf has a dick on the board? No, I'm not joking. There is a dick on the board of Elf. Oh my God. Yes baby! I will say. To get him out. I'm guessing that that you've highlighted all the dicks, but I'm guessing that John is probably a lot worse. Right. I'll be done. Is the worst in the world? Yeah. So next next, good game list. We'll do a John list who are the John's, and then we'll see if there's anyone named pimp and we can do whatever. Before we end the show, 20% of the Occidental Petroleum board. Vicki our name Vicki, 20 in our database, you can go to analytics.com, you can sign up for free. You just put your email address in there, sign up for free. You can just type in the word richer or Rick or dick and it will come up. You'll get a list of all of them and baseball card format go there that is his son already did Queen. I am your analyst told Matt McCarty. We will be back on Thursday with a big dirty, three. Proxy countdown and then on Friday to wrap up the week until then goodbye.