Transcript
Yeah, live. From the ISS. ESG. Skeptic. Nelson Peltz antiderivatives snack room. Oh, Is this is angry now or angry snack room it seems like everything became a room recently ISS there are very successful company. They have a lot of stupid opinions and they build a lot of dumb rooms. I did get asked by a reporter what I thought about Nelson. Peltz basically saying that Disney movies are too woke. That. No, he was a little bit more specific. He said, why do we need it? All in all female collect cast. And why do we need like a black something around black? Yeah, it wasn't into black people being like black people. He was Chris movie that made 1.3 billion dollars in Black Panther. And this is the guy that ISS and their ESG skeptic Wonder Kids. This is what their supporting they said. Vote with them to know new terrific, Tuesday, edition of business pants. Join us always by analysts whole map mascardi. Yeah, today is ESG. Turn up. Peeler, we don't have enough of these. I realized because not I have a big ESG, turn up in my kitchen and I didn't know how to peel it. If I fingernails this show is called March 26th. 2024 Biz, Boeing nuggets. That's what we're doing today. Biz Boeing nuggets? Yeah, yeah. All Boeing, all the Mostly because we replaced our Monday show, which had real analysis with this stupid jokes on Biz nuggets Tuesday show. You know, we do a lot of real analysis and we do see countdown we do like way too much so much like and we do a bunch on Friday shows, get over it. Yeah. Have fun. Our show today is being sponsored by free flow analytics. The only ESG data platform to measure real board influence and Diversity power gaps. Two things that I referenced constantly? Does so much more though I know how much I know I mean but just just you're under selling it. That's a YouTube you and are the data Queen, you can add to that. But I don't I don't really care what you guys are looking at. All right, change the script. Come on, start us off. Oh, here we go. All mine. All minor directors. Boeing headlines. I know yours are a little bit more clever. I'm just going right after balling. Oh mostly because What we have been warning the market about now, for almost five years is still happening. Yeah, it's the same exact thing. It's the same thing. We said, five years ago in our I'm not running for re-election because shareholders will automatically elect me again with 93% of the vote because they're not paying attention and I'm getting bored of sucking at this headline of the week. That's not funny. That's real Boeing CEO to step down. Bored chair will not run for re-election. Matt, why should he run for real election? He just gonna get reelected, he doesn't want that. That's Larry, Kellner. Well, I SS might voice concerns about Larry Kellner. and our Clever right. Boeing plane crashes. Heads popping off. Come on. This is gold headline of the week. A complete decapitation Hill. Know three top level Executives at Boeing resigned amid safety concerns. That's from CNN, anchor, John Berman. That's just like that. I don't like how. I don't know. He's got to join Biz nuggets. If you're going to write terrible, crop like that, John, you should join us. You've got a platform. We're we have all the terrible crop. We've mastered that in our, in other Wall Street Journal News. Toyota sells several cars. No headline of the week. Here's the headline from The Wall Street Journal. Boeing's. Next, CEO will have massive job at company in crisis. I don't know if they don't know if they under sold it. I mean to be farewell Street Journal, even if the company was doing well, it feels like a massive job to run Boeing. Yes, I will say somewhere between decapitation and massive job is reality. Like can we can we maybe describe the situation a little bit better than those in our After this tired analysis. Wall Street Journal needs a clean break with the past. Listen to free flow before you open your mouth headline of the week. Yeah, that's true. Do that. This is their headline after Calhoun Boeing needs a clean break with the past. That's good analysis. I like that. I like that. I like, that's where were you five years ago? Where have you been the last five years? What did you think was gonna happen in 20? Like 2006? When like it was like they had transition entire film McDonald Douglas? I love actually that I'm reading headlines everywhere about the McDonald's Douglas culture at Boeing like none of that existed as headlines when the max 8 planes went down except on free float, I think they all just found our podcast and listen to it. I'm actually very excited about that. They said, and then article, man, they said, the CEOs credibility was compromised by his status, as a long time board member making the case for an outsider to succeed. Oh, that's what kind of wise him now. Now they just realized he's he was on the board before. ah, in our One passenger seen rocking herself to sleep, quietly, chanting, according to free flow Analytics. 50% of board influence still held by three directors who are on the board before fatal crashes in 2019. 50% of 40 influence, still held by three directors who are on the board before fatal crashes. In 2019 headline of the week. There's a lot but I like that. Flyers, trying to avoid Boeing planes turning to prayer and anti-anxiety meds. A passenger who was rocking herself asleep. Speaking out a free flow analytics F. This was the board they put in place to deal with the two fatal crashes. In 2019 they put in CEO Dave Calhoun who was there on the board before the fatal crashes they put in Larry Kilner as chair, he he has 12% influence. He was there before the the crashes and the nomination committee, chair, run Williams 13% of influence. That's half the board influence, Matt and all the key positions just so we make sure everyone understands Calhoun and Ronald Williams were on the board that made the decision to Greenlight the max 8 plane in 2011. They've been on that along with Larry Keller. No, Keller joined in 13. They made the they made the decision 2011 and 2013. I think Kellner, joined Keller 2011. Oh, did he just saying? These are the three men that they handed off the power to after the fatal crashes? And now the Wall Street Journal is saying? Oh, maybe I don't know. Well, I mean what are we gonna do? I don't know, I don't know. I mean what the real story here is that free full analytics is basically a rosary to somebody. I like that. Are you tick over? I'm getting a little tired. All right, let's do a throwback Edition. These aren't new headlines, but you'll recognize some of this allowed. Now we're gonna find out in our Wait, there's rules to this in our weight. He was on the board, too. He was the chair of this board, are you sure? Where are you getting your data headline of the week proxy? Advisors recommend Boeing shareholders, vote against key members of the board. And this story ISS. All so said that a vote for newly named Boeing chief executive, David Calhoun is warranted. That's right in 2020 issue. They actually suggested voting against Kellner in 2020, but they said vote for Calhoun that's warranted in 2020. Okay, that yeah, since full Yeah, I think they didn't know he was chair at the time. Were they were they also want pelts on that board, too. Or what do they think about that? I eat belts was, yeah, belts was. I tried 25 times. Let me tell you this. If pellets had come a knocking and I think I assess would open that door. That's all I'm going to say. I'm sure yeah in our Yeah, but if we hadn't, they would have made us use more screws in the plane headline of the week, these companies still donate to January 6th seditionists in Congress. That's right quick. Reminder Boeing after January 6th continued to be the largest donor in this country. Wow to seditionists. Is that right? When was that article that article was from 2021 right after the good for you? oh, and at Point Dave Calhoun was CEO so ISS write that down after being on the board for many, many years. In our 94.2% of investors agree. Headline of the week, Boeing's, Calhoun sites, quality Escape in 737 Dash 9. Grounding that was the vote for a Calhoun in 2023. That was always tell who incites, quality Escape. What is a? You know, it's like a gas Escape quality Escape? Is he like, is he trying to be clever? What is he doing? I think not say that they did horrible. So he framed it as a quality tonight. 94% of investors A 94% of investors, thought Calhoun was good at this job. In our 93.1% of investors agree, headline of the week. This is an excerpt more than a headline. Perhaps, first among the many legacies of Larry. Kellner's tenure is profoundly. Strengthened governance at our company, including through his recruitment of several superb, new board members, and his work. With others on the board to establish our independent standing board Aerospace Safety Committee. Now who said that that was Dave. Gal, who owns press release on his way out, the door thinking Larry Keller, for the work that our mind you that the other guy in this, in this scenario is Ron Williams. Who's the chair of the nomination committee? He's been on the board since 2010. He's got the, he actually has the second highest amount of influence on the board behind Calhoun at 14% these three men. Were completely by our data. Only date of the you can get here, completely dominated board influence. This is who they put in charge after the Fatal, they changed nothing. Nothing worth saying that this data is free on our website, free analytics.com, you go there, it's free. So stop pushing back, asking us about Alpha and all this other nonsense. Just like, I don't know, just by the get the data and be smart. Tell me. In our 100% of passengers agree, headline of the week. FBI tells passengers on Alaska Airlines flight, they may be victim of a crime, you know? I think this is actually, I think this is the headline that did it, Matt. This this came out on Friday. I think this was ultimately led to Kyle. I think that down, because this is because Boeing made, I don't remember the exact agreement, but they did make some agreement where they could be held criminally liable because they, they pushed through certain protocols, that let this happen. So the FBI is investing in getting this as a potential crime. Yeah, no, that's like as a criminal matter it could be a criminal matter and and lo and behold, then everyone decides. Now my pee a good time to resign. We've really come to the end. Yeah and yeah because he was so well surrounded by cronies and Pals. He's they still wouldn't fire him. Yeah they still can't. Viral quit on his own. This is how non-independent that board was they still, he wasn't fired, Matt acrylic FBI saying, it's a criminal matter and he's he's well not fire. He's working till the end of 2020. Yeah. And not only, it's not only, it's March not only keeping all his on vested equity, which some people reporting as much as 50 million dollars worth but he's he's stepping down not being fired and he still gets to hang around the store for another nine months, like stealing bags of Doritos, it's really it's more. just, Just can't believe any of this. Let me take over for a while because I'm getting heated up again. in our, Come on, it's not like a plane disintegrated or something important like that. Oh wait, never mind, I still get to keep my invested stock, right? Headline of the week. Boeing CEO, resigning amid disintegrating. Plane Scandal, I already, I already blew the, the story on that one. Yeah, you blew it. But didn't really? Because disintegrating decapitated, I just can't believe that this guy is gonna walk away with this. He so at the next at the people who step in and I'm assuming it's either going to be a woman gonna be the best glass, Cliff CEO scenario, ever, they're gonna let her do all the apologizing or it's going to be an external hire. And if this stock goes up, Matt if this person Is, is ahead of a successful, turnaround. Calhoun is just gonna get Maybe up to a hundred million dollars. I mean, there's already saying it's 50 million dollars, but the stock goes up, he's gonna make a lot of money up at his failure. Look, I that to me, it was always Inevitable. Right. Like that that you like that. But you could almost say that there's a vest. There's an interest with CEOs who get a lot of equity. There's almost there's almost an incentive to do poorly because when you're fired options are cheap, you keep. Yes, exactly. You keep your equity and then they go up for the successor makes the price go up, it's crazy. All of us crazy. I don't know, I don't know why these guys walk away. Look you're gonna watch if it's an internal hire, right? You can't expect the culture to change from an internal hire who yes worked under Calhoun for Johnny years. If it's an external. Hire, the thing to watch is what percentage of the board is that person connected to because right now, the nine of the 13 board members are connected to one another through other, just other boards, forget other affiliations and things. And Mom called was chosen, as, as chair going forward, and that guy's connected to 8% of the board by himself. Right? Like, so what do we really doing here? If we bring in an external hire that's connected to all these people, we just empowered the board even more. So honestly you might get you might this might be lose lose. In our astronaut prescriptions for anti-anxiety, meds up over, 458 thousand percent over past, three months, headline of the week. Boeing preparing to launch astronauts as Parts, fall off its planes mid-flight. yeah, we're gonna Have some of and we pause, can we pause their space program? Might not might not be the time. Like could we do that now, maybe just a quick now? Just send them faster and our Shareholders were too stupid to get rid of me. The board is all, people is all me and my buddy Larry handpicked, you know? I start that one over. Yeah. Okay, let me start over. I'm losing to talk today. I lost power for three days. I've been cold, grumpy hungry. So I just got my power back last night so yeah. Well, I guess so. Yeah, and our Shareholders were too stupid to get rid of me. The board is just a bunch of people, me and my buddy Larry handpicked. So yeah, I'm quitting on my own because nobody here is going to fire me. Yeah. And you had another week. Boeing CEO says resigning 100% his decision. How about you not say that? How about really like you're I feel like you're you're putting so much blame on yourself and the rest of your crony board members. Why would you say that part out loud? That I really, why would you why is your ego so massive that you why do you have to tell the world that you're resigning and that you weren't pushed out? No. I I love this because it's like, basically, it says, one of two things, either that my buddies on the board didn't make me do this. Like, I decided that I wanted to keep my invested options and into the future or my buddies on the board said, maybe it's time. Let's we made a ton of money, let's all go out together. That's true, is either way, it is 100% his decision and our, hey Ma, where is my Philips head screwdriver? That's dad headline of the week. The CEO of Ryanair. This headline, Matt, this headline is just crazy the CEO of Ryanair. Says, the airline would regularly find missing seat handles and tools under floorboards on Boeing planes. Yeah, well, where do you leave your tools? I just kind of put mine down on the ground. I remind you. The last headline. Boeing CEO says, resigning 100% of his decision. It was his idea, actually not accurate because you said 94% of stupid shareholders voted for him. So actually 6% wanted him to resign. Yeah, that's right. 94% is 9054. and finally, and our Business Insider writers are clearly fans of business pants headline of the week. Yes. Boeing just pulled a classic Corporate America move and promoted a woman to clean up its mess. So, To be clear. They haven't named the new CEO of the company, but they did name. Stephanie Pope the CEO of its commercial airlines Division and some respecting that she might be the next CEO a Boeing. Unfortunately, she's also been at Boeing for three decades but but the reason why I point this out is that Business Insider is seasoning on our story that we tell over and over and over, which is that companies involved in scandals involved in apology. Tours involved. In really bad, you know, share prices. They typically find women to come in and apologize for them and their bad behavior. That's right. We talked about it constantly. Yeah. So this is obviously a business pants. Fan Megan Morris. Um, Megan just come on the show. You don't have to just rip us off. You can just come on the show and talk to us about. Absolutely. All right. I'm gonna wrap this out with a um a Boeing is that you Edition? Oh we're talking about Boeing today. Is that right? This is a couple more Boeing headlines. Yeah here we go. Some not quite though, in our know the door plug didn't make me do it or the plane groundings or the deaths or that wheel that rolled off a plane or the customers who said they wouldn't buy our planes as long as I lived or the FAA or the FBI or any other F's? It was all me headline of the week Boeing CEO says resigning 100%. His 100% what 100%? What 100. When he saw that 6% shareholders, voted against his reelection of the board last year? Did he was like idiots? Yeah. He was pissed. I actually heard from somebody who works with boards like inside boardrooms that they compare. Oh I bet they get 96% on average both four, right. And when they get like 92% versus 93% they secretly like tell Consultants. I don't know why they got 1% more than me. Yeah. Like do you think the loser buys the pizza the next board meeting has that work? I hope so. In our I hear ozempic cures the need for flying at all headline of the week. Fliers trying to avoid Boeing planes turning to prayer and anti-anxiety meds. Wait, what? Why would a weight loss drug? Cure the need for flying, help me out. Here's the need. Here's everything. It's basically, you don't need anything anymore. You just needles like that. I like that. In our Flyers, trying to avoid Starliner, trips to space, or turning to Calhoun voodoo dolls and Airbus shape weed gummies, headline of the week. Starliners first Commander. Don't expect Perfection on crew, test flight. I really honestly, I really don't know why they wouldn't pause this program. I do six months. Why? Tell me so in 2020, when they hired Dave Calhoun, he was expected by by the end of 2023 to have flown a test flight for the Starliner. Okay, so they've been fast tracking the style Starliner test flight because that was business, his 10. He had an extra I think it was seven or ten million pay package tied to it. Great, wonderful. So get them. So maybe. Yeah. So maybe he got that, right? So maybe he just wasn't paying attention to the to the commercial jet and he got that part, right, let's hope. Yeah, fingers crossed. Send the guys up with fingers crossed. All right. Now some new ones. Well, it's around the last two. Come on tired. In our I learned from Uncle Dave to be laser focused before I was just regular focused but Dave showed me how to use lasers on my focus headline of the week. United Airlines loses 600 million in market cap on news that FAA is opening a probe after Airlines 10th. Safety flood in just two weeks said United, CEO Scott Kirby while they are all unrelated. I want you to know these incidents have our attention and have sharpened. Our Focus. This is the second time we've heard this nonsense. Remember who was a Jeffery son and felt Remember yeah he didn't. He recently support Dave Calhoun and said that now, he's laser focus. He said that, as evidence that Calhoun has been laser focused on governance, they had 60% of the board was refreshed. Meanwhile, the average amount of the board refreshment globally has been 70% in the same time. Yeah, I think you kind of you jumped a shark on that one son, fell, that kind of makes you look like. You don't know as much as free flow analytics knows but he did write a huge takedown of Nelson Peltz. Is that hard? Is that difficult? I don't apparently not. Yeah. and finally, yes, this is just taking too long, come on and our Birds fly near airplanes and I heard Dave. Calhoun recently purchased the dairy farm headline of the week, Bird flu, spreads to dairy cows. Oh this is somehow Boeing's fall. We had no audience, it would be a 10 minutes of booing, 10 minutes for the Boeing. That's what you're ending on. What do you think? Must they must have, they must have, is it true that he bought a dairy farm? Is that partly? I don't know. I don't even know. Birds. Don't fly. 30,000 feet in the air. He's gonna have a lot of invested Equity so he can buy like a million probably dairy farm. He's gonna be a lot of cows dead. That's that's where we're going. That's it. That's really right in a million ways. I would hardly our data and our services you could hire some Consultants you wouldn't know him forever. That that putting in Dave Kyle home Larry Kellner and Ron Williams was an absolutely absolutely the wrong idea. Well well now they know and we Just gonna have to do all Boeing show next week, with announced the new CEO. That's it. Come back later this week, Probably gonna have a proxy countdown, but we have a busy week. So the goal is to have a proxy countdown on a Friday show, if you don't hear from us until next week, just wait. It's not exactly, like you're all crying and you're stupid for our show. We're gonna be in Boston on Thursday, so come see us. We're gonna be on the we're gonna be on the corner of something and something. Come say hello. Yeah. Just come out to Boston on the corner. Look for us over there by that bridge. I think We'll see you there till then goodbye.