Transcript
Live from the room right before you go into the boardroom. Oh, the room that you're most comfortable with Matt. The only room you'll ever see it's an all-new terrific Tuesday edition of business pants. Joined as always by analysts Hall Matt mascardi. in today's, socially responsible tote bag of Larry Fink Size bobbleheads, that's a big bobblehead. I think he's called February 27th. 2024 business. Wow! Really It's cleaned it there. It's so energetic a programming know from from now moving forward on Tuesdays. Every we're gonna really show every Tuesday at either gonna be business nuggets or the good game featuring Ari the data Queen. That's right. Like her. They like her that they don't like us. But we're all like the good game. We're Not Gonna Do Well Wednesdays. We're going to do. I'm just talking about two days. Can we just stay with Tuesday? Yeah. Why inform anybody? What we're gonna be doing in the future? Our show today is being sponsored by free flow analytics. The only ESG data platform to measure real board influence and diversity power gaps. In fact, I use the platform. I use our data for every show that we produce. I I'm looking into it for for one thing or another like who's the chair this committee who has the most influence, you know, all those kinds of things. I just talked to a reporter who was asking like who's the next Tesla for non-independent boards? We could do that and I was like, well, look at our platform. It's like, we can get a network connections. They're all there. It's right there for you. Ready. Yeah, let's nugget this. I love that. That's making me feel like happy or well, be funny now. Just turn it on. Well, I did a better writer. Hold on, let me have a swig. Well, we need a writer is what we need. Here we go. Better here, go. in our, At least it wasn't a Boeing. Actually, it was a Boeing 757 200? No, I said at least it wasn't a Boeing. 757 300 headlight of the week. I did a lot. There was a lot that Boston bound flight from San Francisco forced, to divert, to Denver, after planes wing, it came apart mid-air. That's not great part to come apart. That's a Boeing 757-200. I just, I don't like the idea of a wing coming apart solely, One Wing. I guess that's true. So I feel better now. Yeah. in our, is it too late to Pivot to sell and carrots or how about just broccoli? Generative, AI Tomatoes. Wait, I said, I pretty did a show. I was not gonna say janitor of AI. I just said it. You just said it. You did it headline of the week? Beyond me is back, Matt. They launching a new healthier version of Bert of its burgers and bid to bring back customers. I never have customers. Like, I think they did, I think they have seven cut. They have, as many customers, we have listeners. Can I see the only reason why I picked the stories? Because this is my, this is one of my favorite ESG companies and they've been a miserable failure and I don't want them to be a failure. I want them to be successful. I don't know why they suck so much. I don't know, I just want to talk about you. I don't understand why they need to expensive a healthier version. Like what? Well here's our because Matt it has to be healthier or cheaper. You know what I mean? Like you know, same price or healthier can't be both? I can't be unhealthy and expensive. What are we doing here? Right things expensive. That's a really like, you got five dollar cup of coffee now. In our does, this mean, Europeans have to stop making fun of obese Americans? Or does it? Does this mean they are going to make? More fun of obese Americans. I don't. What is the financial data say, headline of the week? Ozempic and we gavi sales are so hot. They're powering Denmark's. GDP. GDP. Yeah. That's that's a thing about that. That's well I got a question. Are there that many fat people in Denmark, that no buyer or not, they're not. So we know where they're going, straight to the UK and straight to America. We know this covid hit, they were sending out vaccines to places that needed it. Most, why don't we do that with these things? in our, Boat company is not liable for getting passengers to Nantucket headline of the week. That feels like it oversight. Snapchat is not liable for connecting 12 year old to convicted sex offenders. Oh this this is thanks to section, 230. Matt. Wow, that's why I don't like the fact that the Specter fact of the 12 year old signed into snap, they were immediately. The sex offender was someone that the recommendation from the company to the 12 year old to add as a friend and yet, they are still not liable. I don't like that. I don't like right. I don't like the storm on, you know, like a boat company. Not being liable to get pastors and then tuck it. Come on. I I love an entire joke. This is not like four people got that right? And our It's really going to do wonders for my CEO pay ratio headline of the week. Wayfair CEO says laying off. Workers has turned out great. Yeah, it's been great. It's been awesome. And I want to put a name to this. This is Wayfair CEO Niraj Shah in a letter to shareholders saying how great the layoffs have been and let me add to that because this letter was actually cosigned by co-founder and co-chair, Steve Coney because it's these two men that control all the influence that way first. So once again the business news doesn't really know what's going on with these companies. They, they kind of they they think that kind of maybe the CEOs in charge but they don't actually look into who's saying these things. Well, I got a question. Like, is this like was he asked A dinner party like housework and he's like, oh, it's been great. It's really great and, like, a letter to shareholders. I just want to be sure where they wrote this. That's, I hope. None of the shareholders are actually employees. Well for employees, that's worse. Yeah, I think actually funny, I can't promise that. All right, in our, what if we call it, sexy sustainable adjacent growth portfolio, or or we have some black women value fund. Okay. Or maybe it's if that's still mislabeled. How about sustainalytics gave it a 74 out of 12 Globes? Yep, that's the one. I nailed it. Headline of the week, Crackdown on fund. Mislabeling new ESG, fund named guidelines on the horizon. Oh, they're making them change. Like, you know, we're really, we're solving the world one step at a time here. You can't name it. The sexy sustainable adjacent growth portfolio anymore. But you go on the Twitter and be a horrible racist. Well you gotta keep people some rights. Yeah, and our sorry, there's no cattle in your area right now. So the price for this burger is 34.99, but you can upgrade to a blacks XL burger for just seven dollars, more headline of the week. Wendy's will try surge pricing for burners. Oh man I love this one. So much a Wendy's just like Uber or Lyft. They're gonna try Serge price. Pricing on like not just the burgers. All the everything, you know, how much I love this. I still won't go but I just love this idea like at 2:30 maybe the fries are like 79 cents because who the hell would eat fries at 2:30? Yeah well is It does that create demand for fries at 2:30. Is that my surge prices? Think about it, like, 2 a.m. the burgers gonna be 7,000 dollars and right? Yes. And it makes me think Nelson Pelt is on the board of Wendy's. Why does Disney plus do surge pricing as his strategy? Can I love this, too? Hey, look, I'm a very predictable person on weekend nights specialty. I like to watch a movie. Now, I'm an old man, you know, my kids are old, I watch a movie if Netflix charged 7,000 dollars for that movie, they could make a lot of money. You're right. My kid gets up at 6:30 in the morning on a Saturday. What am I gonna do? Like, go please watch, anything leave me alone, so I can get another hour of sleep, it'd be I paid 20 dollars for that. I should surge pricing on everything. I really like like Black Rock pretending to understand corporate governance. And yes, she did searching on their issues, right? I didn't even know 24/7, 24 cents. All right. I don't know. I love it though. In our We have a strict no petting. The tunnel wall policy here. Please stay in your vehicle until after the traffic jam has stopped headline of the week. Elon, musk's tunnel reportedly oozing with skin. Burning chemical sludge know that's not what you want to. Involve an Elon Musk Empire. Why are there so many stories like this? Why is not enough headlines with the word oozing in it? It's really an oversight righters in. Our, we started our descent into Austin, where the weather looks delightful. Please disconnect your phone's from the power source. While we're Landing flight attendants. Please prepare for landing and disconnect our safety measures headline of the week. Oh, Boeing, safety, disconnect ripped and scathing report. Accusing Rank and file of covering up quality issues for fear of retaliation. Wait, so they're, they're blaming the workers first of, but the blame their workers because they feared know they were management. Yes. So so there was an expert panel that went and reviewed and re spent all night reading this because I don't know what's the work at Whitney. That's true but but they basically found that the people they had all of these Safety Systems and channels and whatever but no one none of the employees knew they even existed. So Was like they set them up somewhere way up top and then didn't tell anybody. And then they put the managers of the employees in charge of the safety conversation which meant if you're telling your manager, there's a safety issue. And like then you have a performance review, it's not great for you. It's well if you're real news is Matt according to expert. Is she expert Jeffrey, sonnenfeld now. Now see Dave Calhoun is laser focused on safety shoes before he was kind of like one scratchy contact lens kind of blurry focused. But now he was at This is a quote. I'm gonna quote something. I didn't not write this, except for a little bit and you'll tell which bit in our prior to the reconstitution of the board, members of our board leadership met with shareholders owning more than 50% of the company stocked, to understand their perspectives, on our business strategy and Leadership the dominant view of those shareholders was that the company should do, what ever was necessary to secure? Rick dreiling Services as a company's top executive for a multi-year period. Rat. Safety is his primary concern headline of the week. This cool Family Dollar has agreed to pay 42 million after storing food and Medicine in a warehouse with a severe, rodent investigation. Rick drilling they're doing anything they can do to keep that guy. He's the executive chair of Dollar, General? Yeah. Meanwhile and they're talking, they're shareholders. It's the most important thing we can do. Meanwhile There are storing all their their stuff and warehouses full of rats. I think it's supposed to. Yeah, I think it's supposed to anyone. Get fired at Dollar Store, Family, Dollar or Dollar General? All those places? Yeah, pick a dollar. All right. Get me out of that one. That was too long. I like the long ones, the game time of text somebody in our Hey, Ma. It's 7:30 your new favorite show is on distant. Genius, Gobbledy, gook, CEO, bulshit hosted by Jimmy Fallon. Oh, Jimmy tell Dad headline of the week. Uber CEO says, the company took its drivers for granted. Can you imagine? He's saying this? I mean, shouldn't there shouldn't there be? Could you sue could the workers? Okay, first of all, it's confusing because the drivers aren't technically employees of uber, right? Shouldn't either. They're contractors. Yeah, they're can they can you sue? Can there be a class action suit saying wait, you you took us like, you didn't you were on our side then now you are. I don't understand. Look, and CEO. Dara is defense. He didn't say that. The company taking his driver's. For granted has been great, which is what Wayfair said, so it's a little bit better than that. in our, At a company that has never been profitable. Do you think the typo itself will be the employee of the month? Oh, I like headline of the week. Lyft, CEO apologizes for the typo that sent the companies stock up, 67%. I mean, it's probably the first time they've ever seen this stock go up for anything. I like the first of all, I don't think that type of thing is like, way over played, but I like the idea that it could be played a month. And by the way, the Lyft CEO is Who is the lip CPO, David, David Richardson, David. And the Uber seat, he was Dara Coastal Shahi. Nobody can say his name. I don't think. I still can't 3000 times. I still get it right in our What about Kanye headline of the week? Oh, I don't like this headline. Google shuts down, AI image generator after it made racially diverse Nazis. Right. I mean, think about it, though. Is that the worst thing? I mean he I mean I know he wasn't a Nazi in the 30s and 40s but he's one now. So I write what's the problem? I don't understand. I'm not sure that this move on move on and our This room is only big enough for one, insane racist and anti civilizational program headline of the week. I don't like it. Elon Musk. Is accusing Google of running insane racist, anti-civilization programming with it, AI. Yeah, system, man with rock. Like that's a very one that Google shut down, because they're they're making too many Kanye's or there's not there's racially diverse Nazis, Elon jumping and he's upset about look, let everyone be included in the Nazis. It's I mean really to every time I mention a story about Elon we have two today a tunnel oozing. Toxic sludge him pretending a racist pretending to care about racism. Every time we do these kind of Headlines. I think to myself I immediately think about the Tesla board and how they're doing nothing. Oh wow. That they okay this Behavior constantly. Yeah, that's it's not, that's not shocking well. Okay, I still think about it. That's all that's my point. And finally, in my section in our high, I'm Jay. Does anyone know where I parked my time traveling DeLorean? Headline of the week. You got to be old for this one. So back to that, you're throwing throwback to the Future was a movie about a car DeLorean. That was a time trial. I was there enough. Yeah, that's the joke you tell. Here's the headline, meet the former CFO, who thinks he can fix Disney. Oh, I think I think one of his ideas is. Let's go back in time. Let's get rid of Netflix. Let's get let's just get rid of all of our competitors. Let's, it's only, let's just compete against Blockbuster, we were good. Then we were winning when Blockbuster was our competition. Let's let's put out Little Mermaid every week. We're gonna kill you, remember when Jeffrey, katzenberg was the thing we were worried about now, like, we can go back to that time. All right, I'm gonna wrap this up. Get us out of here. Come on in our, it's almost as if the people don't matter headline of the week, only one in 20 young voters said, Taylor Swift's endorsement might sway their 2024 vote. Oh, it's that low. Yes, and that's a lot. It's one in 20 might get swayed, but okay. So it's 5%, but then it's a Mite. So it's like 2%, it's still a good matter. If you're not gonna listen to Taylor, who are you gonna listen to? I don't know. You know, in our, it's almost as if the people do matter headline of the week. City is betting big on high-profile Executives to turn things around. Why don't you at least tell the audience, what are you talking about? And you said that, people don't matter. People do matter, what's the joke? So the joke there is, we've been told we sell data on board members and Executives about how they perform first of its kind, the first of its kind. And we've been told by investors who are apparently supposed to be very smart with money that the people don't matter. They don't invest ever thinking about who runs the company, which is odd because the the number one Financial Guru in the history of this country is a man named Warren Buffett who always talks about investing in good managers, he's really into good manager, he loves himself, some parochial cash flow and some good management and then he lets them do their job. That's his name, he liked people. So we we but we've been told by investors that show me the alpha. I'm not interested in disaster avoidance. Poor governance. Solar directors. I don't care about the people. Just show me the stock go up. That's what I said. This isn't funny anymore. Keep going. No, it's sad in our Cannons. 100% male board has announced it will keep its close on for the duration of the quarter, headline of the week. 1,000 year, old naked man, festival ends due to Japan's aging population. Wait, that's confusing. A lot of way. First of all, is Canon's board, all men. It is 100%. Now, if Japan's population is aging, wouldn't there be a lot of a thousand year olds around? Who could you think so the average age of the Canon board is 74 years old. It's the second oldest board in Japan. I'm just wondering like do they shut it down because the people like them. Matt, if there's ever a case for diversity diversity, it's this one. Because the last time I talked about the brand Cannon was what 1997. Yeah, so good, good work, Canon. You know, our firmware update alert version 12.397 to be includes the following updates breaks that work headline of the week. Toyota to recall 280,663 vehicles in the US on concerns over its unexpected movement says NH unexpected movement. Yeah apparently people will put the car into park or neutral in the car will keep moving a little bit. So not ideal. So how they're going to update? This is using a software patch? Well, I will say this about Toyota a quick glance at the Toyota data and our platform they have 12 directors. They do have one woman 92% male board. That's right. Yeah. So I average age of 71, they're the fifth, oldest in Japan. Yeah, you do the math here with Toyota's movement and Cannon, I don't know. You make up something, go ahead, keep going. Finally, let's finish finally favorite word of the show in our failure. Recommends failure for future failure. Headline of the week, Norfolk Southern files. Preliminary proxy statement, recommend shareholders vote for its director nominees. What a shock are you, we shocked by that. I would say. Yes. No, that's it. That's our business nuggets. That's hazelnut Raleigh. I am your analyst home at scary. We are free float if you like that. And I don't know why you wouldn't come back. More. I got about 30 reasons on Thursday, we have a proxy countdown show. What are we doing this week? What's the big boat hologic? What is hologic hologic cells, mostly like medical technology. And most of it is actually women focused medical is that are there Holograms? Why logic? I don't know why it's called logical. Find out on Thursday, we're gonna find out on Thursday. We're also gonna find out how weird it is to have like seven men. Making the decisions on Women's Medical Technology on a board. With no doctors on it. Not. Oh, MD on this board, not one. And they must not, they must not be based in Boston. They are, in fact, based just outside of Boston that isn't there. So many MDS to choose from I said, the New England is run by women. Almost like all the politicians and governments are women, there are doctors, everyone's a doctor everyone and yet this is the board that Single. That means, what are we doing here? People 50% women and most of the women are all electrical engineers, good for them. And yet not one dock on the board. In fact, all the people who run the company have like Bachelor's in econ and Masters and e-com. Well, find out more about how you should vote on a logic. This is funny anymore. Let's talk about Friday's show is gonna be all sorts of entertainment, wrapping up the week, uh, Sean III that Chantal. The intern is coming back Friday. So if you're a Sean Paul, the intern fan and Friday is your show. You can just delete all the other show who isn't? That's amazing. We'll see Sean tall on Friday until then goodbye.