Transcript
Live. From that exact moment at a party. When you suddenly feel the urge to leave the party, it, proxy flavored version of cinnamon, free business, nuggets. Me too. I love it. Yeah. What cells of cinnamon? Here, that feels mean, join is always buy. I don't I can't control that part of the show. Join is always by Emma Tim lurking and Matt Cook muscari. I'm the lowest common denominator, and today is upcycled bag called February 22nd 2022. Well what just realize. Two, two, two, two, two. Two, two, two, two. Two, two two. Right? Shitload of two. I shouldn't be swearing because we got yelled at bars on the radio. This isn't on the radio and Today's Show Apple says no Nike sells Nike and Matt races around The Newsroom on a two-wheel tricycle It was hard. It was hard. It was missing one that's up. Matt, if you think about it, A two-wheel drive. That's yeah. He's kind of racing around. Oddly, what would some me up as a four-wheel tricycle I overdo it. No, two wheels, more for two attracts more frenetic because the balance is all off and you're like, you're just sort of like quick, you're over pedaling to make up for something. Before we try to go, though is like a loud aggressive over. Tricycle tricycle as much as I love this vehicular psychoanalysis of Matt. Yeah, what he's saying we should move on. Yeah, I do. All right. Here we go. This one's really. This first one is really for Emma. Yeah. You. In fact, Emma, try to get off the show today about like I kind of need you for this first story. I don't even know why I think that because I don't even know what your relationships been Nike is. Very good. She's wearing all night. So As it turns out, we really got deep into the fact that Starbucks directors and their proxy statement. Tell us their favorite Starbucks drink. Says, a lot of people. Yeah. As it turned out, Nike does the same thing. Except we're gonna talk about today. What it isn't drinks? It's weird clothing. Yeah, I'll be honest it's we're gonna do it. So screw you at home if you don't if you're not into it, but It's not as fun. I don't know why, maybe because the things that you when you eat something, when you put something in your mouth, it's fun. It's weird way to say that. Yeah, but I don't know like sneakers and hoodies. It's not fun but let's do it anyway. Here we go. Okay. Top products and Emma. You gonna have to help me out here, okay? By far, the top product is the, the okay, there are 12 directors and they pick 27 products, okay? Got it. Okay? By far, the the winner, here is the react series. You know, anything about the react Shoe um based. Yeah, based on my Google. Yeah looks like sneakers. Sounds like she doesn't know what she's talking about. It's a boring running shoe but we'll get more into that types of them. I know that's the way Nike roles it's annoying and then it in second place is just a bunch of other boring stuff. Air Force One. Pegasus Jordan's although Matt we're talking about this last week. How some people pick Jordan's, but one of the Jordans. They picked us a golf shoe. Yeah. That's like that's not that doesn't count. Correct. That the thing that's a problem about this is these are not customizable things in the way that a Starbucks drink is. So you get to learn something about someone's personality, this just feels like you, you all like some pair of shoes, like I can't even tell the difference between the shoes is a million shus just shoot but some of these are flying. Yeah, this is why I broke it. Decided to give it a good old-fashioned ESG Shakedown. So let's break it down shape. We can learn something. Okay, let's do this because I know msci is jealous because they wish they had done this with the Nike products. The directors chose. But we're gonna do it instead. Yeah, there we go. So, let's start with leadership. So Nike, there are four super directors Super. That's the CEO, the founders son. Yeah, the lead director of course is Tim Cook. And the former CEO was. Now these elected chairs called mega, mega directors. Yeah, we need a name for those, but these are the only directors that really count. Let's be honest. This is 33% of the board. This is the only part of the board that matters. I mean, this is like a powerful group. They? They got. 50% running. 25%, golf 25% fashion. Whoa, fashion. Okay. Matt's waiting to wake up. We learned a lot there. Nothing. So let's move on. Here's where it gets a little bit interesting. Okay, let's just break it down by gender. There are four women on the board. That is a 33% of the board women on average picked. 3.5 products and Men on average, picked 1.6 products. So what can we learn here? Men don't shop. He except for shoes. But, but doesn't this show me that on retail companies that we should have at least half women on the board? If they're the ones who are buying more, right? They, they pick over doubled. The products. They have more favorite Nike products. Then the men by more than doubled. I have an alternative theory about this. Yeah, so I'll do it. If it were me and I receive. I was God forbid, directer of the Nike board greatest thing ever. You listening Nike. Hi. We are listening Carl. I can Um, and I know Emma no offense, but when you become a Nike director, I bet you do become friends with Tim Cook. Yeah, you do. You love that guy? You, you love it. If I were a director and I received an email from whoever is putting this together and it's like, okay for the proxy, we are going to ask to make this more personable to make this more likeable please. Give us some of your favorite Nike products. My for me, I would be like, Oh, I'm gonna do my homework and get my little gold star. So I'm gonna give them as many products as possible. And my guess is that the men are gonna be like, well, my favorite product and a half and I'm gonna give them eight options to choose from and that works like we have been promoting this product enough. So I'm gonna say this and maybe that'll have an, you know, that's that's about it. You're proving once again that the women on these boards do more work or more qualified right? Like you're proving what I just said basically is that we need more of you on Nike boards because women are bringing something because they're probably sharked there in the first place. So they're gonna work at it, right? Not even shocked. They're just like, I had to overdo it, my entire career to get here. Why am I going to stop over doing it now? I immediately, my first reaction was what percentage of the men actually don't know what Nike sells. Agreed that as well. Yeah. No, I'm with you because I because as I said with my super directors, the mega directors which are, they're all men, they're all white men. They didn't pick a lot of products, the on average, they picked less than two products so they don't know what's going on. It's awesome. Not very masculine to like shop a lot. So if they put too many, they might get their main card taken away, God, forbid. But okay. But you're proving my point. How crazy Nike is, because this is a place where you shop. So, why the hell, aren't they shopping more? Why don't they know what's going on? Why aren't they picking a lot of stuff? Why are they just picking a boring running shoe? What's going on here? I am support, you need diversity on boards. It's just proving my point. Okay, let's get to the type of products because this, oh my God, this is a gloriously on interesting training, at least, let's go. So there's only four types of things that they picked from basketball. And this is where it gets a little interesting basketball fashion Golf and running by far running. 44% of the products were running. Yeah, for sure. And then, and then 37% were fashion. So, It's just a bunch of boring stuff, but basketball only three. Only three of the products were basketball and all those were picked by black directors, know white people picked but here's where I'm confused because I thought Nike was known for basketball shoes. I don't know what's going on. I don't. So I'll take why aren't there more black people on the board? Where are the black people and women on the board of Nike? Why is it? Why is it? Why is it dominated by Boring, white people who pick golf stuff and running stuff? What's going on? I'm a little bit. Glad that we cycle. Analyzed my vehicular choices before this, because it's basically the same thing that you're doing right now. I was about to say this feels like a diversity on boards, rant disguise as of their Nike choices, but help me out. Emma, how could only three of the products be chosen to be basketball sneakers. This is like impossible, this Nike because the white male directors, first of all, why? Yeah, but do you think that Tim Cook is running around going to play pick up with his friends? These have to be products. They realistically use. Tim Cook is more realistically, on a golf course making, you know, deals to end all democracy, whatever wearing shorts for sure, know, well, look, he's not wearing. This is all things. Oh, well, now officially the anecdote about golf is backed up by the data because as I said, 100% of the golf products were picked by white men. So first, if I can unlock fishy a lot of make fun of old white director, dudes, playing golf now because it's in the data, the data, it's too golf clubs that women are not allowed to set foot. In, of course, the women aren't using golf shit. I also say this, that 83% of the running shoes were picked by by white people, which makes sense 80% of the fashion products are picked by women. And that's about it. I tried really hard. I got some good numbers here. I try to really hard but I think it's I think it's somehow proves something. I'm not sure what it something somewhere is proven. Can we move on to some real news? Now, are we done with the fake news? I kind of weird. I kind of want to linger here, but I feel like you guys aren't giving me any, any love it. I don't want to talk about it. I am doing my best. Yeah, I probably. Yeah, that's my job. It's, you're right, the others. It doesn't have the same. Okay before we move on I and I think Matt you will agree with this is that we want every company to do this. Yes. All right. First 100 I applaud star box for being innovator and I applied Nike for joining this. This is just like when companies finally released their diversity data or their pay ratio data and then other companies start to join everybody. Please start doing this. If I want to hear all your directors, weird fetishes, yes by yes like everything. Yes, I want to know. Yes, he see, get on board, you're the Unilever directors. Mandate This Witch diaper brand of unilever's. Yes. I want to know the Clorox at Procter and Gamble or whoever I want to, I want to know all of it that 100% agree with. It's pretty sad. That stating your favorites of stuff qualified as Innovation just well, look Emma we at the heart, you know, we are just like sad number crunchers, we need more. Numbers to Crunch, we need more. I need to know more. I need to know. And yeah I have a feeling that some numbers are about to be crunched real good in math segment. If okay let me tell you, your web saying move off the door. Yeah, if Emma if you found out that a director favorite Tabasco over Frank's Red Hot, you'd immediately have a reaction That's correct. And similar to me, that actually Frank's over Tabasco moving on to real incorrect. Moving on to real news, some real news to come over. Matt, here's some quick headlines. Let them waft over you like bacon. And with a mid-afternoon coffee, Sake in. You like that segue? There's a hard thing to make clunky. McDonald's Pig policy fight escalates with board nominations is the headline. Hey, escalation headlines. We don't get those very often. Yeah. What's happening? Last week? As we covered Carl ican, he's going activist Ham on McDonald's because his daughter was ignore was ignored by McDonald's about Pig crates. And she's very annoyed about it. His daughter apparently lessoned about sexual harassment, as daddy did not start an activist campaign around the existing patina of cronyism that led to EXO. Steve Easter Brooks, sexy time, escapades. And the companies long history of employing complaints, and sexual and racial harassment. Yada yada yada not interesting yesterday. I can't announce His nominee. Pig crate gestation problem. We officially I can announce this officially today. We officially have our first pure ESG candidate. Ever. I can't put up as two directors for McDonald's boards. They are amazing Gensler. Who's the chief strategy officer or something? At Bon Appetit, ostensibly she got nominated because pigs are actually delicious, but also possibly, because she has done some work on, like, Humane treatment of animals. It's important. Yeah, yeah. That's a good point. Like, you know, it's not the daughter's, not fighting the fact that we're eating pigs, just how they're stored before. We know, I don't know, but what kind of activism you go to Pete's website? And like on the front page, is like a pork roast butt? The ESG the most ESG Canada I've ever seen Leslie. Samuel Rich from the CEO of green Century Capital. If you don't know Green Century, first of all Leslie, well done. Green century is the OG of social responsible investing. She they're one of the oldest little mutual funds Les Is actually the green essential is actually run the portfolio. Managers are Trillium. These are our people. These are Matt, passkeys, one of the portfolio managers for green, centuries fund. These are our people, but there's no word yet on whether the over-under that Carl's daughter actually chose the board members. I'm pegging it at -120, because do we really think that Carl? I can knows the CEO of a mid-market social media responsible mutual fund, that doesn't actually manage its own money. There's no way Carl. I can was like, Yeah, I think Brian Leslie. Saw the headlight. So you think what you're thinking is at Leslie? Heard about the headline on business pants and then she immediately called. Carl know what I'm thinking is Carl's daughter, who was working at, the Humane Society is very like intimate in some ways with the kind of work that a green Century does because they do a lot of activist campaigns around animal cruelty and things like that. And so Carl's daughter was like, Hey Dad, This is who I think we should put on McDonald's board. Really my takeaway, was it pays to have a Daddy worth 24 billion when you want to make change? That was it? That's my takeaway here. McDonald's. Nobody yeah. Yeah. I was gonna say before you get to what McDonald's had to say, which I'm always interested in. Its I some news, I was covering that Carl actually is invested in other companies that that are doing piggy stuff and he's not upset at them. He's not, he's not worried about the treatment of pigs there. Well, here is actually the statement that McDonald's issued to First day. Well, it was a long statement, they defend their record on, pork crates, and pigs and Piggie things, but they also dropped the mic on. I can't hypocrisy. Quote, Mr. I can who state that he holds 200 shares of McDonald's. Stock is the majority owner of his case. A company that produces and supplies packaging for the pork and poultry industry. It's no worthy that Mr. I can't has not publicly called on this case to adopt commitments similar to those of McDonald's to 2012 commitment. Is that no worthy. I guess so. I mean he's McDonald's is a sexier Target than his case. Well, so if you own the company it's like do you have to make a statement about it? You can't you? Why that would be a great icon versus icon. Like he fights himself activists against himself and other Porky news, news story number two, condom giant prepares for sales, boom, AS Global pandemic restrictions ease, you like that, Porky I don't understand this. Wait, I kind of giant. So why did sales I would have guessed that kind of sales would go up during the pandemic because we were that depressed. That sex went down that were saying you you here's here's actually why it's in the statement and I'm gonna get to it ready for this, okay? Good, it's an investment. I'll jump right to it. The investment thesis, you never thought of it's a quote from the story demand for the products had fallen as quote hotels and motels closed during the pandemic. That's right. The condom company Ernie Hotel telling you that covid stopped. You from having Affairs and it killed their stock. That is the investment thesis. That's weird. True, I would love some stats on how, what the cheating numbers are 40% drop in condom sales as a result. There are 40% dropping condom sales. Wow, here's some other interesting. It's because you think it's because of cheating. They did. They said, because hotels and motels were closed condom sales dropped. That's what they said. Well, what do you do in? Because people were home with their partners and they realize how much they hate their Partners, right? Is that part of it like first, they weren't going up having sex. We're stuck at home. And they were like we're not hiding each other sex because we're both stressed out and we don't actually like each other so all the hotel and hotel, you know, Affairs stopped. Another couple tidbits about this mostly because they giggled when I read them, I did not know this. But did you know this? The Lord, one of the largest brands of condoms in the US is actually all these are made by a Malaysian company. DirectX is Malaysian coming home. But then no idea. I don't know what that means. What am I supposed to glean from that? Well, sorry about it. I just didn't know it. If you don't get it, well, you don't get it, it does. But it does prove that the old joke that condoms do literally grow on trees in Malaysia. Remember that old? That's true, they do. I remember that joke from the early 90s literally grow on trees. And number two it's like it's before my time I think if you're looking for something to do this coming weekend go read Wikipedia pages of condom companies because Carex the parent to DirectX. The Wikipedia page is an exercise in beautiful puns, Karen Doug. Here's here. Here's from their Wikipedia page in 2014, carricks bought another condom producer Global protection Corp. Awesome name really good. Yeah and in as part of the transaction they issue 83 million shares to Global protection CEO Davin Weedle. Here's the quote from the Wikipedia page, quote the acquisition positions Weedle to own 7.64% of the enlarged company. Of course, they did great day. By the way, I don't know in Canada who we talk about the Wikipedia's Number three. Speaking of dirty Affairs. Swiss leaks probe says Credit Suisse Bank handle dirty money over decades. We're gonna do more. This is a real transition here in stories here. This is a real, you're really going somewhere else. Taking all the places we're gonna do more on this later this week, but a probe into Credit Suisse Bank basically found they had long history of funding strong men and what I found was a pattern for Credit Suisse of new stories over the last two years, it goes racist, not racist, racist, not racist, scandals. Good for Credit, Suisse. Right October 2019, not racist. CEO is ousted because he starts spying on his neighbor who was an exemplary because he didn't, like, where the planted their trees turns into a big story, and the CEO ends up losing his job. Do you remember the spying Scandal? Yes, I remember the. I don't remember the part about the trees about I like it was a garden. I mean, it was a garden party argumentative stuff. October 2020 racist, the same CEO was reported to have left. The chairs birthday party because the bank hired a black performer dressed as a janitor to dance on stage at it. You remember, that story? What's good one, Switzerland after all February 2021, not racist. Credit Suisse is the funding money laundering for dictator strongman and drug cartels. If the pattern holds we can expect the next Scandal to be racist, in which Credit Suisse asks, all its black employees to dress and white face as a show of a quality. That's my guess for the next the upcoming story. Although it could be argued, though that the Hub of funding for money, laundering for dictators, strongman and drug cartels could be disproportionately affecting countries where they'll a lot of people of color. So maybe it is. No, I would, I would argue that they are doing that. They are probably yes. Disproportionately people it's called in the drug world, but typically not white people. I don't think or do we think that they're all that money laundering is for White men. Know, but I'm saying, like, who loses in a drug? It's probably a it's probably like not racist on purpose. All right. Well, this is to be determined. Got like this, I like where you're going. Yeah, finally two headlines. That are perfect. There's a finally, um, yeah, from today in a and what I'm calling. I'm so conflicted which is woker news. Here's the headline. Yeah. Reindeer herders, push to remove Norway. Wind turbines. I was a lot of things to unpack in there. I don't know. What are they doing with those reindeer? What are they hurting them to do? What do they do? They need a lot of what's going on here? No, there's no reindeer. Okay, they're eating the animal. Um, I think Carl Icahn should get involved with this. I know, but they're not in gestation crates and number two. Lastly is the best worst quote of the day. First the headline luxury cars up in smoke after ship? Catches fire apparently. A ship is floating out in the Atlantic. They they took the crew off because it was on fire and it's full of luxury cars and it's just flaming, here's the best worst, quote from the story, the operator gave this quote, the operator of the, the boat quote so far, no source of pollution has been recorded except for the Flaming boat, in the middle of That's it for our headlines this week. And luckily, for audience at home, that we met has talked so long. And I also talked lovingly about Nike that we don't have time for our boring, Apple proxy statement stories. So, we'll have to push that to her later date. Yeah, no. Look forward. Boring. Audience saved, audience. That was David Ross. And Emily. I'm Matt miscarry. We have free float media. Tune in tomorrow, where we're gonna have more juicy nuggets, but it's just Emma and I because Damien, yeah, you're scared. Damian, your spirit has important things to do, which means Emma. And I are gonna actually have fun and not too long. We're just gonna do like a series of ridiculous headlines, and we're going to, we're only gonna take seven minutes of your time, that's it. Goodbye.