Transcript
Oh right. It's the day. Yeah, it's a happy day. Is it live? From ISS. ESG skeptic Pepsi skeptic soda machine. Oh is a Pepsi skeptic. A Coca-Cola drinker. It's an all-new terrific. Tuesday edition of business pants joined by analysts whole mattress. Hey, In today's separate. Ready for this one? In today's separated chair and egg white and CEO and yolk called April. 23rd 2024 Biz nuggets and our very new top five list Throwdown show. I don't have a name for that, the are top five data from our platform top five. What is this? If you're listening to the show, just name it for us. I'm a listener know you're not listening right now. I I know you don't like this ad copy, but feel free to you said you were going to change it. Matt. So feel free to change it. I was going to use that. I should change it. Here we go. Plains, our show today is being sponsored by free flow Analytics. The only ESG data platform to measure real board influence and diversity power gaps. It's now free, right? Most of its free, a lot of it's free. It's all 80,000. Active directors are free unless you want like a one API or something. If you want an API, there's a connection fee. If you want to Extended data there, there's you have to pay for that. Like with some consulting or if you want us to show up with like muffins and our expertise, that's an extra point, top hats and Monical's you in a top hat and a monocle. And yes, I will steal your pens and your water. If I show up to your office, I'll see anything that's free. I mean, anything that's not chained down. I'm walking out with, I mean, Damien was really close to and a prospect meeting at one point. Go leave with like, catch up on rockets and and pepper. Pepper things. Ready for some nuggets? Yeah, it's just some nuggets feeling, not good about them. Luckily, we only have five each today because we all have to do our top five data lists. Yeah, we do. Let me ask you this. Are you gonna play this horrible music during the data part of the show too? No, yeah. Here we go. in our, please tell me it's get a real CEO. That's not a hole. Please tell me it's get a real CEO. That's not an a-hole. Please tell me it's get a real CEO. That's not an a-hole headline of the week. Tesla has a simple fix for its faulty cybertruck. Accelerator pedal. Oh really, is it get a CEO? That's not an a-hole know. It's not to get a real CEO know. It's actually, it's actually my blue. Not it's to drill a hole through it. Drill a hole through the accelerator pedal. I guess maybe I don't know what's gonna make it lighter or something. I don't really know what, that's what truck costs 100,000 dollars and we've resorted to it doesn't work. So just drill a hole in this spot and it'll work better. As I was riding this terrible joke through a new headline popped up about cybertruck has a problem with like cracking windshield or something like that. So that's a problem with Russ. Hail. Oh, don't even get going to list. I'm just talking about a new headlines today. in our, The other five percent committed to Biz with Marty at Sally's by 7:45 headline of the week. That was almost a, hey Ma 95% of Apple's supply chain commits to 100% renewable energy. Use by 2030. Okay? What are the five percent? Who are the five percent? Like like is probably their biggest customers? I'm guessing? I mean Can you imagine being the holdout like when that headline comes out and you? You're in the five percent of Texas. Yeah, come on. I just applauding that because we don't, you know, since this whole anti ESG and I D E. I and I woke Movement. We don't see it at a pledge as anymore. There's no more pledges. I love seeing a pledge. That's good to have a pledge. Yeah. And our The security guards were carrying pepper spray containers, filled with delicious and creamy oat milk and gun, shaped vegan Donuts, headline of the week. BlackRock steps up security for Larry Fink after anti-walk backlash. You get the joke. I got it. I got it. Yeah, here's what he's getting over. Getting where he's got over 500,000 to upgrade the home security systems at his residences. Not just residents residents, come on, you know, Simply Safe costs, like 12 dollars a month and another 22000 dollars for bodyguards. So, how do the security systems cost more than the bodyguards? I don't know if I blame Larry on this one because don't forget these idiot anti-esg anti people were actually putting up billboards with his face on it. That's, that's right. That's right to all the weird Mega types. That's seen free flow analytics websites. It's got their face on baseball cards. What's that? These? Same people stormed the capitol looking for my pen. So, I'm just saying, I don't know if I blame shareholders paying for this bill. Right? Yeah, I don't know. All right. Okay. In our I will though say that I would pay for gunship vegan Donuts, I will pay for that. In our thanks Vivek. We haven't talked about Vivaldi in a long time. So yeah, I don't like this. I'm great. This is great in our, thanks for back and Barbie Double headline of the week. I'll see you. You made fun of me for having six production. Double I got a double. You gotta get it. Here's the setup. We're thanking Vivek. We're almost on me and Barbie. Here we go. Okay, okay. Taylor Swift's name is popping up on Wall Street. Earnings calls, thanks to her massive impact on the US economy and Diversity goals are disappearing from companies annual reports. That way, who do I blame for what? Can I blame? Vivek for the name. Of here. Blame him for everything. I've heard have you heard the new album? Vivek has a new album. Is it does from his Harvard wrapping days? Yeah, it's called tortured poets. I lost the presidential race actually. That works for both. Yeah. and finally, in our, I had to, I had to do this for you, Matt in our hey, Ma Oh, I like this but the Hyundai Motor board is something we have seen before in Asia. Only two, female directors with a total of three point one percent influence. Tell Dad. Because I know he has a free subscription to free flow Analytics. Headline of the week. Boston Dynamics, new humanoid moves like no robot you've ever seen. Yeah, I saw the video. I just put one point this out because I, I didn't realize until doing my research data. Boston, Dynamics is, in fact owned by Hyundai Motor. I didn't know that this that's why we bought the Hyundai ioniq because I want eventually one of the upgrades to be a robot that sits in the backseat and tells fart jokes. And because you want to support the 3.1% influence held by its two, female directors. I mean, somebody has to yeah that's it. What he got? All right, in. our, when one, Glad sales has three billion users 200 million of which are in the US and that company is totally controlled by an autocrat. Oh wait, oh, we're talking about tick. Tock not meta. Oh, that's my bad. Headline of the week. Tick Tock says it will fight you us band or for sale after bill passes. Yeah they're banning it they're banning tiktok yeah. Well maybe they maybe they have shares in meta, you know, it would be fabulous. if meta bought tiktok, Know. Right? Let's do. I don't know. Well, they'd have to say yes to that but then they'd also sue them at the same time, right? They let them sue them and then they sue them they wouldn't sue them. What I trust case. No, because they're not, they're the argument for anti it, not being antitrust, is the customers. Don't pay anything for it. Okay. Like it's a free service. They pay with their rotting Brands. Sold. Yeah. in our, China, China headline of the week. A tiktok banned would be a win for Mark Zuckerberg. Well, of course, do you remember when Zuckerberg said we should only worry about China? Yeah, you know it's it's a wheel. We don't talk about China, a lot anymore. The only two things we talk about is the tiktok banned. And Elon Musk is scared of Chinese EVS, right? He, yeah, he doesn't want. He doesn't want Americans, buying Chinese cars because they would hurt his company. He sort of obtuse Leaf. Thank the US government for not allowing the Chinese to cut in the free market. Well, here's what I understand is that I, my family has his driven Subaru since the 70s that's a Japanese car, right? Why can't I drive a Chinese car? I would like to drive a Chinese TV. What's the, who cares? What? Who cares doing here? If you bought on day, which we did at the Korean table? Yeah, like about doing here, I don't understand what we're doing. I don't know. Up in our protecting customers one, Michael Kors bag and Call of Duty headshot at a time headline of the week, I don't understand this one. Yeah, uses to block tapestry Capri 8.5 billion merger, citing Monopoly concerns. What is called duty, if I do with that, that tapestry the same, they sued Microsoft activation. Yeah, purchase. So tapestry and Capri are capri, is Michael Kors. And tapestry is more Brands, and they're suing to stop it because I don't care about their calling. It less competition for what Michael Kors bags. What about Zuck? Owning Facebook? What's up and Instagram? Exactly. And pretty soon tiktok was no tiktok with absolutely no independent oversight of his control. What about that? What about like weird and sounds weird, like funding Facebook and Twitter X like one. Guy is funded both Empires. What is going on? Why are we why are we wasting our time? I'm not laughing course. Back not laughing right now. Can you get back to jokes? And there are no jokes here in our Get a chance to relive it all. Now with more, anti-Semitism racism and conspiracy theories, headline of the week, Tesla, launches website, to convince shareholders to vote for elon's 55 billion, pay package whoso, who's paying for that shareholders? Are also paying for that website and and they're asking them to pay for the PayPal article suggests that, although, when I tried to go to the website, I got one of those Auto like things that comes up and says this website could be extremely dangerous, you might not want to go there. What else? I don't know what that and the Neo Nazi CEO is that it was and I'm not joking. That thing actually came up and said, are you sure you want to go to this website? So so and I put this all on Independent chair, I use air quotes with the Robinson. She's asking shareholders to give the richest man in the world. A big, a huge pay package which that's what she's if Cheryl's passed this. Tesla is gonna get sued again. They're just gonna live in lawsuits for the rest of history and if they don't pass this, then just give back X. Like, he's already. It's weird using the shares. He already got from the thing. His other companies are already poaching Talent from Tesla. So I would think that Tesla shareholders would already be angry not to mention that everything else that Tesla is going poorly. I mean, I can't think of a bigger shit show than what's going on, including an article. And I just thought today that said that, that since Elon Musk is spent the last two or three years, alienating, specifically Democrats, and they're no longer buying his cars, you as a, as a as a car and Jesse, the money whisper, she just got a new Evie. That's not a Tesla, so, yeah, good, congratulations to Tesla shareholders, not to mention that rumor is so they're about to release earnings tonight. The rumor is that they are talking about a pivot entirely From selling cars to people to doing robotics. I don't care about that. We don't care about that. I mean, do we not though? Like imagine if you bought the car, could you see it on your customers anymore? Like you bought the car and then you're like, sorry we're no longer servicing this because we want to move you around like in Minority Report and how our accelerators fail to work and maybe the maybe the problem with all the labor rules that they busted all the, all the racial discrimination and the warehouses and they're all suing Elon, maybe he realizes. Like I should just go after the shareholders because all my police are suing me. So I need to I need a new Target. I need employees who want to work. My stupid shareholders, who's left the boat left. I bet they're so stupid and so sick of fantastic. They'll probably vote from my brother, they'll realize my brother to the board. That's how dumb they are. That's coming up soon. And finally, in our It's almost as if the board matters headline of the week. Bezos Earth fund commits to continue financing climate targets group. Well, you know what group is yeah. What tell me what the group is that is sbti the science based targets initiative. Okay? The Earth fund? Yeah. Along with Ikea as a combined entity of some kind. Funds, 45% of sbti along with Ikea Ikea Ikea. Yeah, the sbti is the supposed to be. Setting scientifically based targets for corporations on carbon emissions because if they don't set them based on science, the world lights on fire. Like it already is on fire. However, what has happened and this is a quote from the article. The sbti actually allowed for carbon offsets. As part of their target setting. And if you don't know what a carbon offset is, it's like paying a dude in Malaysia to not cut down a tree and then selling that to a corporation. Can I be that dude in Malaysia? I need a raise Well, there's a basically the whole market for carbon offsets is relatively dubious. There's very few just like this company real. Yeah. And sbti has approved it, but it wasn't spti. It was quote, the group's Board of Trustees made the decision, the board made the decision, so the article actually never mentions who's on the board. Oh, that's what we do here. Are we gonna mention it? So, here's the board. All right. Yeah, we are, we still in the jokey part of the show, what's Happening? No Jokes, wait until like actual research. Yeah. Well, that's what we do here. Okay, so the way I'm waiting for the punchline, he's the chair of the board is Francesco story. Okay, who is a partner equally eq2 eqt, which is a private Equity Firm. He is on the board of email. He was a, he's an energy executive, okay? Oh, Yeah. Okay. Well good. They were good at like carbon the Energy company. But still, he's an executive, the other person on this board Esther baguette. She on the CEO of novozymes, which is a, which is a totalitarian company where caseum, Katie actually has all the influencer. She's on the board of ASCO Noble. And finally, you have Ivan Duke Duque the president of Colombia l2k yeah. Call Columbia. Wow. Yeah. Which increased at CO2 per capita by 6% while he was President. Yeah, but everyone was doing it. So give me a break. The rest of the board is actually just people who pay into sbti like who are donors to sbti and are all from United Nations, CDP, WWF. Wri, the fact is the main players on the board are industry. Number of scientists on the board. If you curious, is there a little like engine, what engine one, Sounds like their nominees to the exam board. A little bit, that's more or less what we got. So that's the end of that. Not so, jokey joke. I like how you crammed in your your analysis of sbti on the end of our, the joke part of our show. You just kind of, let me ask you something kind of wedged in there because I know you've had this research for a couple of weeks and you've been mad at me that I won't let you put it in anywhere so you shoved it in on the end of a joke. Let me ask you something. Is it better here? Would you rather than somewhere else? All right, let's go to our next segment. The top five. What is where we calling it? Top five Throwdown? I don't know. Why are you announcing the next segment? Because I'm gonna press the button. So dark, we don't even you don't even know what the name of it is. All right, top five, throw down. Here we go. Yeah, come on, you need some good, you know, segue music. Yeah, baby. Yeah, here we go. All right, so every week and next week, Ari the data Whisperer that's not her name are the data Queen. She could be the date. It was first, she's coming Whisperers. Never heard her own top five listings and she's the, she's the one. I'm really waiting for because she's in the data every day. She's the data Queen, I want to hear what her list is, but every week we're gonna bring a, we're gonna compile a list of top five list from our data from our platform analytics data. And we're just gonna we're gonna compete who has the better list it says simple and dumb. But this is real, all real data. All right, data real dumb game. I'm gonna start with my list, mine's very. I got a really old fashioned list here. I'm because I'm assuming yours is going to be extremely complicated. It's gonna be like us you know which directors that with sbti trucker hats with one red. Eyeball yours is gonna be weird but mine's very straightforward. Mine's very old-fashioned and this is just is a female power Gap. Oh a positive feeling power Gap. This is the like that that's old-fashioned. Nobody's ever heard of it. This is, these are the companies with the essentially, the most female power. I mean, really, that's what it is, the boards with the most female power and it is, yeah. Technically where their power exceeds their percentage on the board as in, they have more Powers than representation, that's sort of taking place. So get it right? That's what you're here for. And here's here's the methodology of this list. I I have to I'm agreeing with the Congress in this one and I excluded China. Okay. Oh now I mostly excluded China because having been in the corporate governance Day game for so long. You know, corporate governance stayed out of China. Know. I don't know. I don't know. I don't know. That's all I'm gonna say. I also this is only the the biggest market cap companies in the world. We call them league, three and four. But what are those represent? What what is that a market cap of about? What it's large and mega cab companies. That's all. Okay. Okay. So these are really the biggest companies in the world. Excluding China. Here's my top five list with the companies with the, the biggest power Gap. The first one is out of Spain, it's a Utilities Company EDP. Oh, Reno vave, I'm butchering the name. Yeah, they have a 27% power gap, which means that, wow, that as an example, if half the board were women? It's 50%, were women. They control 77% of influence. Here's What's Happening Here, Matt. This is a Spanish Utilities company owned and operated by the Portuguese government. And essentially, they have designated two women to watch over all the men. So it's two women. It's true, it's true, two women. Wow, are in control there? That's the first copy. Second companies, actually, a US company, this is the only us company. This is Advanced Micro device is Advanced Micro Devices there. Let's listen to Lisa Sue. This is a US Semiconductor Company. They have a plus, 26%, female power Gap. They're only three women on this board but they're led by chair and CEO Lisa Sue along with lead independent director, Nora Denzel. All right, so how do we feel about CEO chair? Combination here. Well I know like it in general. I know what happened in the US is there is a lead independent director supposedly to counterbalance that. So I don't know I I think it's stupid. I don't know what this means. Does it mean that Nora Denzel is the actual chair? What does it mean? I don't know what it means. I I'm always just the lead. Independent directors are almost always the longest tenured and most connected directors to the CEO. Well like you just put your friend just lead individual. You do whatever you want. The important thing, here is the outlier here is that it's two women, which that's the amazing. Fortunately, that's pretty rare. The third company is another Utilities Company Matt and that this one's at a France EDF. Again, these are the power here is represented by women designated by the French State. I don't know why this keeps happening, you utilities companies because there's a there's actually a another utility company that you usually leads this list. American Electric Power out of the US. They usually have the best female power Gap. But it's dipped a little bit recently because one of their board member is, the, currently the interim CEO. And that's a man. So it's thrown offers a bit but I don't know why. This happened in utilities companies. I don't know why we see such female power and utilities sector. The fourth company is a Norwegian online Commerce company called Ada vinta Uh, they have a half the board as women. Led by chair Orla Newnan and two other women who combined for 60% of influence. And finally the fifth company believe it or not is out of the UK. It's a British financial services company called Admiral Services. Yeah, they have a 22% positive. Female power Gap, led by CEO Malena. Oh wow, that's not good. Sorry, Melina I'm sure, but your name along with look at this female power pay committee chair. Evelyn, Bourke audit committee, chair Karen green, and senior independent director, Justine Roberts. So that's my list. The top five positive female paragraphs so your list is fine but my list is better. Okay. First my first again I said my old fashioned it's pretty. I did mine in reverse order like a five to one. I don't care about you gotta build up. Okay, here's my list. Nobody cares about everybody should care about first some of your methodology, all right. My methodology is actually relatively simple. Um, in as much as it's really highly complicated with lots of steps which sounds like you're already cheating but go ahead. Well, it cannot include state-run or totalitarian board so it can't be a dictator on the board. Basically what I did that's basically what I did know, I had no dictatorships know family LED, no family, but you're doing state run State ownership all. So I eliminated that entirely and I did that on purpose because I am doing the most influential directors in the world. Well, okay, on any board that there are on their average influence their power, over these boards. Look, one of the reasons why I didn't include State companies is because without the, without the influence of the state in Europe, we wouldn't have so many women on the board. So I thought it was fair to point out those companies where the women actually have power. Not just because you have pointed out many times in the research that in Europe often is the case is that there are? Yes, there are a lot of women on the board, but they don't represent all don't end up having power so I wanted to point. So basically, what you've pointed out is that it takes the government to give the women power, unfortunately, most does happen. Yeah well, but in mine, I'm eliminated most influential boards. I mean, no dual class don't found her family's no state government. So I eliminated China, mostly because Chinese government runs most of the their companies, The, you cannot be the CEO on the board because by being the CEO, you automatically have a lot of influence, right? You have to be on a more than one board because if you're just the most influential person on one board, that's not really this up to you. It's not impressive now. Like it could be all your friends on that board right? I can't eliminate every variable, right? The board size has to be greater than six because you know like making stuff up, why? No. But if your average influence across, all the boards, you're on, is 33%. You're on three boards with three people on them. Like what is that, right? Like that's not nothing, and you must be on the board of large cap companies. I also did I want to look at a large Mega caps, okay? Like that's it. That's it, that's it. You have to start with some baseline. Come on, let's get to the meat, come on excited, average influence and influence is measured using a director's resume their role on the board. Their status are they a major shareholder? Are they put there by an activist like what's their, you know? Do they are they an Insider that kind of thing? Yeah. Connections to other board members a friends with everybody. It's basically, the directors responsibility for board outcomes. That's how you talking about here. We're talking about like a dinner, roll, a bulky roll talking about like, did they drill the hole in the accelerator? Pretzel roll like pretzels, those are good. Did they buy the cybertruck or did they drill the hole in the accelerator? What about like a cinnamon bun? The cinnamon roll? These are you talking about actual roles? Yeah, it gets a list. Come on, number five. Kevin Cabot. Well obviously, he's a, he's a male, he's us-based, his average influencer is 17%, and he's on the boards of nice Source, Unum, group and crown castle. Okay, he is a double chair, he's the chair, double chair separate boards. Wow, does he also have a job? I mean, this guy sounds busy. I he's on every nominating Committee of all these companies that should actually make you nervous, right? Like I wouldn't like this, how is that guy gonna Source people for board members? Is he likely to go to the 10 other boards that he's on and like ask him his aggregate 10 year on those three companies is 25 years ago aggregate tenure. I I okay, I forgive me at this information is wrong because I just did a quick Google search, but but there's just something, he's also Overseas strategic direction of Fifth. Third Bank Corps. How busy is this guy? I mean, he's got a lot, I was a shareholder. If I saw that, my chair was a chair somewhere else that to me, that would be enough to be like that. He's also like, has a actual job. He's a job. Third Bank corporate what's going on, he's got how do you do this? Okay go ahead. Number four yeah ham Kirby, Pam a woman, a woman, a female. She's based in the UK wow 18% average influence on bundle which is a tiny little company. Axo Noble and Wreck-It Benghazi. Yeah, two big companies there she is also a double chair, a double Checker. Yeah, yeah. Actually this is the second time you've been mentioned EXO Noble in one show. Oh, are we the only show on the only ESG Focus show that mentioned XO, Noble twice and one show we must be come on. I Yes, that's 100% true. Number three on my list. Number three, Scott, Perkins, ooh, that's a good director. Named Scott. Perkins a male real man, he's based in Australia. Oh yeah, double, man, that makes him a double, man. He's double man Perkins Perkins. 19%, average influencer at brambles, brand origin energy and Woolworths, okay, okay. Well worth, he's on the pay and he's the paying Nom chair at brambles. He's on every committee at every company. Oh, since terrible and another double chair for origin and will Street, how many note did you think he is? Color-coded notebooks, how does he keep the Committees straight on these different companies? How does he do it? I don't know, but I will ask you like, if you're noticing a pattern, all these people are basically double chairs. Like, is that okay with investors? Why do we want like Scott? Perkins is on every committee at all three companies, audit pay and nom Yeah, like, what why? There's no other no other people on the ports? Are there only six people on every one of the boards? The good news I suppose is that he doesn't seem to have a day job, so at least he's got a little bit. All right, all right. He's on again, I sit for this. What I really want to know though, I still want to know how we keep this all straight to see like different colored pencils. Like, what does he do to know which audit committee saying, what, and when, and how, and doesn't he use clippy from Microsoft, like you just click that thing? What else? Come on, who else? Number two, Annette a Reese. Another one, another female and actually that's 40% of the top five is women, okay? She's based in the Netherlands. She's got 20% average influencer at Randstad asml, and Yung Heinrich sure she somehow not. A board chair at all. Okay but she is the chair of pay at Randstad. She is on here because she is highly connected. She's on two nominating committees and she's an All-Star performer. You know like the number of All-Star performers in our database is really low and she's one of very few All-Stars but out of the park on everything, but her performance that has has no relationship to her influence her number. Those are completely separate, it doesn't know, but but if you're looking around to the company, she's been on and they're all, you know, performing at a high level. She might be a high Target candidate, right. She's got a total aggregate 10 year of 27 years on these three boys. Yeah, if you're looking for, it sounds like if you're looking for a good female CEO, she could be, she could be it, right? Why not Harris, I mean, I don't know if she's busy CEO and something else, but she's, she's doesn't appear to be here. Let's hire this. And then, finally, on the list, Bower dick. Bowers real name? Yeah. Okay. No, I'm not or bore could be bored. The oer. Yeah, it sounds like a man. He is a man and he is based in the UK as only that name could be. So, if two British directors on this list, he has slightly over 21% average influencer at Shell. Oh, Nestle and just eat takeaway, I don't know what that is, but that sounds like another well. So one of the big problems with this one. Being number one is he has 41% influence at just eat takeaway.com, wasn't a problem where I just take away he is every committee. Basically he is the chair and every committee he is super connected throughout Europe. He was the CEO of a hold Dietz. The company that actually owns Stop & Shop where we live and he's a bench warm performing at total aggregate 10 year of 27 years so that's my list. There's like it's nothing wrong with my list. It's a brilliant list. Sounds like he has a lot of influence over a lot of unhealthy things in the world. He might be that he might be the world's leading purveyor of, like unhealthy crap. Just write, takeaway shell and nationally. It's literally. It's right, really? It's literally a man who's chilling. Everything the music, but who won? Who won the list? I did, I think I won. No, I won. How you get a judge. Who won? I won. That's it. That's it. We are free float. This show was sponsored by free flow analytics. If you like the data, we just talked about and I don't know why you wouldn't like that. I don't know why you wouldn't, we just gave you. We gave you knew maybe CEOs, gave you great companies to invest in Cleveland. Go click the little button that says make a, you know, make a login for yourself. Sign up here, sign up its free 80,000, plus active directors on there for you to look at until our Thursday show. We've got what are we doing on Thursday? We're doing Norman Giant. Proxy contest with incorp going on Friday. We have our wrap-up show of the week and I got a secret for you. Damien. This is a big tease coming up later. This year, in September of this year is September. Five year anniversary of my gonna remember that. I'm not gonna remember in September. I'm gonna remind you every week, because we're gonna have a big blowout next show. I want to hear about this conference are going on next show. That's right.