Transcript
It weird that our only two fans are the chief sustainability officer. Oh, you're just gonna talk over your own intro. Oh, I missed the countdown. Yeah, that's the countdown. It's good to be back. You're back. I was gone for one show live from the committee to be up BlackRock and ISS until they run home crying to Mommy. That's a Committee hearing there you have. Now, that's a weird one. I didn't see that on the docket for the Republicans that's a bit odd. That's really on the nose. It's the podcast that puts the extra silly gas into ESG. I mean, somebody had to do featuring a hole Maestro mattress, Guardian me. Whoa, I'm a maistro. I'll take the a hole on maistro. I don't want to think that I'm being crash. It's analyst whole whole like the the Orpheus out of which one speaks, I'm not being vulgar. Although when you say orifice, does that all? So today's ESG approved, woke data energy, drink called August 2nd, 2023. Probably not funny business nuggets. That's right. Yeah, Our show today, Matt. I want to get serious for a second. Our show. Today I'm listening is being sponsored by eske your ESG Data Solutions provider. Yes. Gauge I don't know how many people after listening to this show. Have gone to Escalade and bought skhs data because of us. But that number should be high because their data is actually very good. Well, who's the data? Yeah, we do on our platform free flow, analytics.com. Paul will be stopping by later to talk about direct perquisites perks. Perks director Creek assistance requests all other compensation. That's all right. Let's well wait, wait, all the way down here just to talk about that. Yeah, for seven whole minutes all the Hartford he's going today. That's like a four four and a half hour drive. Yeah. It's a long trip for seven minutes but it's worth it. But let's get into our nuggets one. While we have energy for nuggets, here we go. I should have loosen up my Mouth. More. Mine are very long-winded. I'm warning. You need to stretch in our Hey, Ma. My populist math, 101. Professor told me that Since Uber CEO, Dara made 316 times. Uber's median employee last year. That 52 dollars for a 2.9 mile. Uber ride is like 16 cents for the CEO. It's not that. Oh, hey, Ma what more question. Would the equivalent be a 52 dollar one-way flight from DC to Tampa because, you know, 316 times 3 miles is about 900 miles and which case, maybe this is a good. I don't, I'm confused and I'm probably gonna fail populist math 101, don't tell Dad. At the end there. Uber. Balls. After reporter tells in the cost of his 2.9 mile. Uber ride. He said oh my god. Wow. Yeah, you know that's good when you know, When you know how much you charge people. So this is the yeah, the CEO. Was told by a reporter in Manhattan that his 2.9 mile. Uber ride costs him 52 dollars that the CEO Dara had guessed as about 20 dollars. So that's how you know, how many times he can take that ride himself. Last year's take home our, his salary. He was reportedly 2024. Yeah, million 24.3. I think I think you could take it like 410,000 times. You could just go back up and down punishment. Yeah, in our Mine are really just super long, wow. It's just long today an hour, according to a company spokesperson. Disney's compensation committee. Chair Donald Duck. Really dulled whose father quackmore Ducks served for over 15 years as Disney's audit committee chair. Who was appointed to the position. Despite the fact that Donald's mother Hortense McDuck had an MBA from Wharton in a PhD in economics from UPenn headline of the week. This is a lot to absorb Ron. Desantis's, Disney World, special district, drops, d e. I programs. All they had one one of the well, okay, unfortunately I got a very deep into this this morning but the The what's it called, the Ruddy reads, what it used to District formally by Disney now control by Rhonda Santos, where he appointed, all of his cronies, a bunch of Republicans to run the board. One of the first acts, Matt was to strike the racist, hateful Dei programs, finally someone that's doing it. They're standing up for someone. What are they sending up for? I don't even know. I mean, the only thing that's like, the only thing, They're the claim could be is that it's racist against white people. That's the only one just say like they should just say that. I think that's. Yeah, say that. That's what they're saying without saying it. In our oh boy. Oh my God, this one's like six number eight, number one, passengers of swear a lot number two, passengers who talked about his 316 to 1 CEOs that don't tip despite impeccable service. Wow. Okay, number four, passengers, who discussed the fact that he was the only executive officer to receive an options award despite being the CEO. When the stock price was deflated, meaning that he is being rewarded for creating his own failure. That's that's a good one. Number five, passengers, that reek like alcohol. Oh well, number six, passengers, who discuss. How according to free flow, analytics, he is batting 277 overall, including low, earnings batting average of 0.089. And finally number seven passengers who talk on their cell phones. The entire time about the fact, That all of Uber's board leadership positions are held by white men, who were former CEOs at S&P, 500 companies headline of the week, stupidest one, ever, I need an Advil. Uber CEO reveals the passenger behaviors that urged him when he became an Undercover Boss. Ah, there's a lot of uber for you today. This just it's not, I love about it. I love Uber CEO. They just got profitable this year, but his company ever. Yeah. And I mean, maybe you had to do it, all you do is put up your hand and a cat and a cab would pull over for you. I was just it was just pull over to the side of the road. Yeah, but now it costs you fifty dollars to go three miles and that's why they're profitable knife and get out your sweaty phone. You have a little swiping tips and then they don't show up and then it's yeah, it's great to do is just put up your hand, that's it. All right. I think that's my longest where they get shorter from now on. Thank God. In our AI, a blinking bot, reportedly received a golden, hello package of 500,000 shares with 01863 votes per share headline of the week. Metta is reportedly bringing AI chatbots to Facebook including and Abe. Lincoln boss Abe Lincoln, what is this? Okay, so I yeah, I did spend and I call This research, but it was really hard not to do this almost an hour this morning. If you go to Twitch, there is now egg Jesus on Twitch. This is a company and I spent an hour. It will take questions out of the twitch chat and answer them using, like the it was trained on scripture, I guess, but the questions people were asking were things like how do I cook ramen noodles? And I mean, it was like a variety of inappropriate things out there. And then things like, how do I beat the original Nintendo game? Doug, Doug. And Jesus was answering. Yeah. It was really good as our culture. Finally become like a big giant Bill and Ted's, Excellent Adventure. Where we're just like, We have like animatronics historical figures and no one knows what's real anymore. Nobody cares. It's like Wally mixed with Jurassic Park. Okay great. and finally, my first section and our spokesperson for Vivic ramaswami and strive Essence management said, they did not know which was worse. Fighting a fake War based on fake ESG communist data or the alarming potential, that the umbrella might be rainbow colored headlight of the week. Second one, definitely the second Giant umbrella tied to asteroid can help fight climate change. What is that even mean? What are you? So did you say so? Scientists are actually studying a scenario where they tie a giant umbrella to an asteroid in order to block certain you know, of the Sun's light To reduce you know reduce the effects of yeah you're right when we're at the point. Yeah. That we're tying umbrellas to asteroids to block the sun, maybe just think we've I think we've hit dystopia changing our Behavior, changing corporate behavior, all that. Yeah, let's just tie rainbow colored umbrellas to slide objects when I didn't the asteroid have it in the first place. The question we should be asking over for a while. All right, in our following ESG firm sustainalytics announcement of like a cow risk rating. Yeah, anti-woke firm. Second vote announced an old bovine food. Index it says, will quote, cure the woke masses of their Hindu obsessions with cows headline of the week. Upset Hindus seek apology from Baskin Robbins for non-disclosure wait. What? Uh there they hidden Society. Beefy cone has is looking for Baskin-Robbins to apologize for not putting on its carton of rocky road that they use beef gelatin as one of the ingredients. Oh, that's quite a that's a rocky road right there. It's a, you know a lot of what a hoof tracks. I mean they said the spokesman said we use quote gelatin of poor sign and beef Source. That's that was the quote. Yeah. I guess what did they say? Bovine source. And I love the word Poor Side. I'm just always the word of the week. in our, In fairness, she did ask for a quote professional headshot. So in Florida, this would count Headline of the week and Asian MIT student asked the AI to turn an image of her into a professional headshot. It made her white with lighter skin and blue eyes. Yeah, I saw this map. Maybe there were just using our data because, you know, if you, if you are essentially a CEO on the Fortune 500. Yeah. You are a white dude with you know, blue eyes, really? I mean, that's what you are seeing this. You you're initial reaction was on our platform. We need to do a button that says turn me into a board chair. Yes, and it just, it's, I think it should be the same picture of an old white, man. Every single time. Mi is white, turn me into an old term into a board chair. You click it, and it's miles. White's picture. Every time, I was white, former Abbott CEO and current Ari baby. Yes. Um, miles Abbott sat away, and our time. We'll use the entire Super Nintendo for parts, not just the controller headline of the week. Oh, the co-founder of Ocean Gate, The Firm who CEO died on a deep sea, dive for the Titanic. Now, wants to send 1,000 people to Venus to Venus. Wait, this is a, this is a this happened after that accident. Yes, this is new. Oh my God. What? So the company is is not even the funked. The company is not defunct. Now he's a company not to Funk the other founder. They're gonna said that exploration and all its forms. We need to celebrate it. We are going to Venus and did not mention the Venus is the hottest planet in our solar system. Yeah. But they have a lot of asteroid. Covered in umbrellas. Also did not mention the fact that they could not go underneath our ocean without the thing exploding. That's complicated though. Case in case you didn't get the reference, the submersible that exploded under the way, to that Titanic was using a Logitech game video game controller. That's just just gotta explain the joke on that one. I really you could just probably have an extra 20 hours of show if you had to explain all of her done know in our okay. So it looks like we've added the intestinal distress. I see you've chosen seasickness and toe, fungus along with an extra bag, and a bathroom that will be available to you during your stay for. Those extras will be adding 347 dollars. Thank you, headline of the week. Yeah, cruises are increasingly adopting. The strategy of budget Airlines get ready to pay more for all the extras. Oh, what are the crews extras? Like, probably right like barf bags. Maybe. Salt and pepper. I mean, on an airplane, you're bringing like so cruises charging. What for extra bags? Yeah, you want to bring extra carrots sticks. I don't know. But like the only other things they give you are like. Normal virus. Okay, that should be extra right? That should be, you should have to pay for that makes for a great story. All right, now you do your 35 pages in our Watson was fine five million dollars after receiving 230 million dollars. In guaranteed pay last week owner Dan Snyder sold. His team for 6.2 billion and was fined. 60 million dollars after among other things sexually, harassing team employees. So what's the joke here? Let me think that the NFL cares more about women today, that isn't funny headline of the week. NFL expands sexual assault policy, penalties and wake up to Shawn Watson. Suspension know, it's funny dance. The NFL, The Dance Center wasn't for sexual harassment. It was for basically hiding money from the other NFL owners. And Dan Schneider has said, he does not want it referred to as a fine. He wants it referred to as a reimbursement. Well, I I'm gonna refer to it as a fine unless he wants to call in if you want to come on the show. Actually I will agree to draw that language. I will call it something else. It becomes like a good. Sounds like a deal you know, our His expertise includes one, the ability to hit a small ball. Really far too. An Infamous and infidelity Scandal, three and Infamous arrest for driving Under the Influence for handing his competitor a tampon on national TV after hitting a small ball further than him in five getting drunk and breaking into the house of an unknown woman in sleeping in her bed. Oh wait that last one was Tyson Foods CFO. John R Tyson sorry headline of the week. Tiger, Woods joins, PGA Tour board. A Saudi deal. Talks continued, new director on the PGA tour board Tiger Woods. Wow. Well, I'm in the middle of a research paper in which I found doing the academic research that basically there's nothing a direct can do to either hurt their reputation or get below, 90% vote. There's no no thing that they do. That's that's true thing and or to get fired to see if oh at Tyson groups. Well I mean that one's a layup. If you're a fourth generation Tyson in our Just like Yum brands, female power board gap of 9%. You ain't getting what you think you're getting at Taco Bell. Whoo, headline of the week. This is my first like stupid female power Gap sponsored by free flow analytics, joke, Taco Bell sued for false advertising of amount of filing in a filling and crunchwraps in Mexican pizzas. Matt, here's the bigger Point. Can we start suing companies for for pretending like they have a lot of women in these, in these four positions, but they're not actually giving them any influence, overboard proceedings, because we start one by one. I love that idea. That's a brilliant. Brilliant idea, we absolutely should so crazy. Let's just create the list and sue them all. Yeah. you know, in our ESG, ESG, ESG, ESG, ESG, ESG, ESG, ESG ESG. Now, it's 84% headline of the week. ESG mentioned down 85% in company filings across tech industry. I mean. That they talked about it at all, was the joke before. so really, honestly what I'm really mostly surprised at is that there are actually corporations who listen to the bullshit that They make and Ron DeSantis spew and they actually change their. I don't know, they're worried about now. Everybody's worried about a lawsuit. I just got a memo that talked about. Yeah, they're worried that like, you know, by everyone talking about the same thing, they've created a collusion lawsuit waiting to happen. This is dated, it's just extra disclosure, I don't know, I don't know. They said they they should just stop mentioning data in their company filing. So like nothing not even. Don't even tell you when the annual meeting is, I think it should just be a picture of a goat for every filing. One of the first data points, I remember that we collected at the corporate library among other things was when the annual meeting date is and where that socialists. Because why are they telling the show holders where to show up, right? That could lead to really communist driven Cheryl. The proposals, right? They might all talk to one another. That's collusive. That's If they eat Bagels that's Jewish and you know, like I hate to break it to most conspiracy theorists in the ESG world. But that's what most of the boring ESG data. Looks like it really does an age. It's how many shares we are granted last year, all right? Finally. In our oh, this is the greatest glass Cliff CEO statement ever. CEO, Stephanie Tolle took over less than a year ago. Okay, that's the background for this one. Okay? That's really, this might be the greatest class Cliffs statement ever. Here's the headline. Jetstar CEO, Stephanie Tully. Apologizes to everyone. We've let down over our. 20 year, history! Wow, issues plead to all Aussies. Okay, Matt this woman took over less than a year ago. She's a apologizing for the companies. Everyone here, everything they've ever done. This is the greatest glass CEO moment ever. Really, why stop there? Yeah, why not apologize for more than just your company is history. Yeah, this apologize for every company over that job. The first thing we want you to do, is so apologize to everyone ever for everything. What a good what? A good starting point. All right, I'm gonna wrap this up in our before we get to Paul anyway in our Soon to our pichai CEO of alphabet recently said, quote wind powered emissions free cargo technology is one of the most important things humanity is working on. Its more profound than electricity or fire. Whoa or wait, did he say that about AI headline of the week? The return of cargo carrying sales ships. Wait. Alright, stay with me. Yeah. Apparently there is a company and I covered this on Monday but I love it so much. There's a company in the Netherlands. Yeah. That their solution for climate change and transportation is sailboats. They want to start shipping everything. Yep, from container ships back to sailboats and this is not just like a 500 foot canal and Amsterdam, right? This is a no no. They want to do this ramps and ocean. I want to do this from China everywhere one. But why not tell me why this is about idea? Well, they, they spent some time talking about how containership takes like 30 days. And to do it on a sailboat is, like, 90 days so long, and they can only carry like one tenth as much. Okay, we use the cat litter, who cares? I'm just saying, what they said? My favorite part of the article is the framed it as they're using the latest in modern technology. And by that, they meant says They're using sales, it's sailboats. Yeah. I just wish soon to our pichai would talk about sailboats the way he talks about AI or profound. I've seen some of these giant container ships, I live in a port city with the giant. Container ships that come in. How big is this sale? Matt. Is it the size of like Wyoming? I don't understand know if you not its container. Yeah. I know. The container ships are like ridiculous, they're absurd the size of the skyscraper loaded down by, like, 8 billion pounds of kitty litter. I'm tired. That's part of the joke. All right? And our yeah, but the 19% were fine, right? Oh, headline of the week. Study climate change boosted July heat for 81% of the world's population. You know, what's even worse than this, I tagged an article today about how the top 10 cities to, which Americans are migrating to, and the top two cities are Phoenix and Las Vegas. Yeah, I know, it was just had 31 straight days of 110, degree plus weather and that's what people are moving. That's where they're moving. There's no water and 110 degree heat every day, but we can we can create zoning laws for everything. Why are we letting people move to Phoenix? Arizona, why are we? I don't know, let him move. I mean, anybody who's moving to Phoenix right now? It's just like, they're gonna know. What are they gonna have to move out again, it's gonna be terrible. They're gonna blame, is she when the insurance companies won't insure them, right? Exactly. I just like, I want to know whether the 19% were 81% of the world's population had used to July. Heat. Oh, Alaska, like recording. Oh, record breaking heat in the Arctic and Greenland. Where were they? Maybe they were traveling on airplanes and they missed. 19% was like, I think maybe Iceland is the only place, all right. In our yui SG, snowflakes want like everything to work. Next, you'll be asking about wheels and motors and doors. Headline of the week. Steering failures are Tesla's, new federal safety worried. And I, and I remind you that despite the Uproar that is part of what ESG scores account for write it. If there are major product recalls that threaten your stakeholders, including your customers, who, who I will say, one of the co-founders of strive asset management was on LinkedIn and some freaks. What's his name Anderson? I don't know. What is he was you know he was talking all about customers, right? All about how they love customer's Anson. This is part of what ESG scores for they they collect data on things like massive product, recalls that kill your customers. See how it works. Yeah, okay. Finally. For our woke nuggets today. Before we get to the ball, I love this file. I'm tired in our Wait. They know that woke is a euphemism for gay and black and hippie and Communists and woman and intellectual and liberal and northerner, and Brit and Gypsy, and vizzy goth and Satan and covid in China. Right? Whoa, headline of the week. Ron desantis's newest problem. The majority of likely Republican primary voters, don't want a candidate devoted to fighting woke what big shock and they're not interested in the fact that a couple of stoned hippies that created all things and ice cream company care about stoned hippie causes they don't want to get mad with Ron with that one. Also I think what they're actually they don't want fighting because they the list of things that might be woke is literally a really all the things every day. Like I mean you you can't do a thing anymore without it being called. Whoa, home and shut your electricity off. Yeah. That's it for our walk nuggets. That's not. Yeah, that was enough. We promise next time to edit ourselves better. We do we, do we build our one listener? Do we promise that? Well let's, let's all write Paul's here. Finally got here, he's walking in, we're gonna listen to Paul. Here is Paul Hodgson of skh talked about directors and hurting Perkins perks, Hello. This is Paul Hodgson with ESG statistics of the week. So, as promised last week, we are looking a little bit more closely into the issue of other compensation. For directors of the compensation, is that catch-all term, that covers a variety of payments to directors that aren't covered under the normal issues of cash fees, stock awards, stock option, Awards, etc, etc. So, I asked my friends in New Delhi at ESG, the team to get back to me about some of the highest, all of the compensation levels that have been paid out to directors in the 2020 fiscal year and I just like to give out a big thank you to the team. There Deepak Daga Mohit Sharma Sonia. Sat in their Singh. Deepak Agarwal and akanksha upadhyay and apologies for mangling, most of those names, but anyway, thank you all for your support in putting together, ESG, statistic of the week, you can give me a pronunciation lesson later on. So they came up with the top 20, highest fees, all of the competition for rather for directors and the largest amount was 500,000 dollars and the the bottom 20 was 30,000 dollars. Now, the vast majority of these were matching gifts. Now matching gifts are corporate payments that match a directors contributions to a charity of their choice. These were really all over the place in terms of value all the way from 100,000 matching gifts, EOG Resources, down to 15. Oh sorry, a 5,000 matching gift at Delta Airlines. So, Delta Airlines wouldn't normally have been in here with 5,000 dollar matching gift since the the lowest total all of the compensation for individual director. In the table was 30,000 dollars, but there were a number of other things that went on at Delta Airlines that. How shall we say? Got it into this Hall of shame that I'm just kidding. It's not all of Shame at all. Matching gifts, could hardly be described as Halls of shame. But anyway, the other amounts that got Delta into this table were the amount of 25,000 dollars for a tax equalization, payment and 20,000 for discounts on Company products and services. Now, I'll read you what it says. In the proxy statement, Delta reimburses the director for Associated taxes on complementary, complementary travel. With an imputed tax value of up to 25,000 dollars per year as is common in the airline industry. Delta provides complimentary travel and certain Delta Sky club privileges. The members of the board of directors, the directors spouse, domestic partner or designated companion directors children and parents and to a limited Extent other persons designated by the director. These are collectively known as the direct of flight benefits and they indicate that the complimentary travel for such other persons is limited to an aggregate imputed value of 20,000 dollars per year, which is quite a lot of flights simply think about it. Similarly well, Not really actually, I was, I was looking at Southwest Airlines which is also in the table to see if they also received complimentary travel benefits. But apparently not, or at least they're not being reported anyway. So what we're looking at here is for directors, one director received retirement plan payments of 75,000 dollars. Now, retirement plan payments for directors are virtually on known. They were very, very common say 20 years ago, but have been removed from the kind of direct to benefit pay package slowly and steadily over the past, well, over the five years since 2000 and almost unknown. Now, so it's pretty unusual. This is probably a legacy plan. It's 35,000 for directors who serve for a period of at least five years and 75,000 for directors who serve for a period for the least ten years. So, any direct to that served or 10 or more years would not be considered independent, in my opinion and all the opinion of most corporate governance codes paying them a Would also reduce their independence as well. So this is not a particularly wonderful approach to paying directors, so those are not spectacularly. Large amounts. The two highest amounts was another tax equalization payment at Aon of 150,000 dollars. And then a consulting fee of 350,000 dollars for a director Kenneth berdick at centene Corporation. Now, let me just go to the proxy statement to have a look at exactly what that entailed. So effective at the end of January in 21, the company entered into a Consulting agreement with Kenneth berdick who was there Forma EVP markets and products and former CEO of WellCare centene is a Healthcare company so he was paid for this 300,000 dollars per quarter in cash. So since the amount entered was 350000, looks like he only worked for a single quarter. Now the agreements expired now. But one wonders, why he was made a direct in the first place since he's clearly has dice to the company and is not considered independent under never mind. My opinion, but any corporate governance code and then Mr. Burdick became chairman and CEO of lifestyle's Health Group in September 22nd, which has contracts with centene for services. Provided now, they say that the contracts were obtained or arms, linked, dealings prior to the time that Mr. Burdick became. Affiliated with life stance. But since they're already in existence again we have another link between this so called independent director and the company, I'm not sure how great the score would be for this guy in your sabermetrics product. Matt Damon, but my guess is probably not great. So that's that one. The other larger amount is for Richard, Shattuck, I think is his name. Just let me check on that one more time. I don't want to miss speak Mayo. Shattuck. I'm sorry, who was the former CEO of Exelon Corporation? And again I went to the proxy statement to try and figure out where that that amount came from it was 500,000 dollars and it is, in fact a charitable contribution. I thought a matching grant program because this is not an amount that the director has actually made for themselves. It's just a charitable contribution made by the company on the on the former CEOs behalf and if I could spell charitable, I'd be able to Track drown, the actual amount in the proxy statement. So yeah, so here we have for Mr. Shattuck who Departed the board in 2022. As I say was a former CEO. The amount shown reflects a one-time contribution of 500,000 dollars, made by Exelon to charitable contributions in honor of his years of service to Exelon. Now, he was the, I recognized his name. So he must have been CEO there for some considerable time. So it doesn't really surprise me that they've made this contribution, but again, it's hard to get childish about charitable contributions. But is that the best use of shareholders funds? So this is Paul Hodgson signing off with s gauge statistic of the week. That was Paul. Yeah, I I had to mute my mic because I was giggling a bit. There were you giggling? Yeah, word. Yeah, I was learning. I was learning. I was giggling. Yeah, I giggle when I learned, nah, that's all we got for today. That was a that was a weird woke Wednesday for us. They're always weird. I think every show officially we do is weird, to be honest. It look, we are looking for people to interview if you're listening to this show and you're like, you did the Only Rule of an interview on this show is that you are. And there's no talking points. I do not want to hear like like the things that you're marketing division vote for you. I don't want to hear that shit. You come on the show, we have a real conversation about real stuff and we'd love to interview you before you say things like like, On that show with these idiots. We just had the great representative from Illinois. Sean, castanon, Sean Caston. So what are you talking launch? What are you? Political career of? Don't say it Vivek ramaswamy. We have had greats from Calvert, and Morgan Stanley from msci from like we've had like really real people talk to us on the show, so come join us, otherwise thanks to our sponsors skh and free float analytics.com, where you can go get director data for every directory. Entire world. So don't use, I don't have the data as an excuse for not floating your proxies, whether you're my mom or BlackRock, you got the data now it's there, go get it we'll be back on Friday to wrap the week and we'll be back with the money Whisperer too. Until then Goodbye.