Transcript
Live. From The Frayed caller of an out-of-work Monday Morning Quarterback. It's the first day of spring edition of business pants. Woohoo. Woohoo, let's read it. Is the first day of spring Join us always by engrossing Emma lurking and meritorious Matti. I'm a number three pencil. Wow, they make those and today is reversible bag called March 21st 2022. Damien does Disney. Matt does Boeing Emma does lurking. In a merch sadness, update. Come on, let's get to it, let's get some music going, I'm excited. All right, let's quickly, let's you know, quickly in our world. I don't know what that means. Let's try to update our March 6th and just tournament. All the games are completed over the weekend for the first round. I'm gonna try to quickly Buzz through this. First of all, all the number one, and number two, seeds Advance all of them. Wow, honestly, like masterful season, we are seating is. Yeah, is masterful because there really weren't a ton of upsets. The only two big upsets were Nike over Berkshire. Which really? I mean, I don't know. Is that? I mean, that doesn't really surprise me. Was that enough for sure? No, I think that was. Yeah, well, Nike was six Berkshire was three. And Activision Blizzard got by McDonald's. That's a big game. That was an exciting. I knew that was setting game, that's in my bracket baby. That was in my practice. Just a few highlights Tesla a number one seed got by and overtime. Beating City in overtime and you go to overtime by dominating City in that overtime period in the sucking category. A Spotify. Thank God, one of the buzzer over Ford. This is a very close game of Spotify. Won four to three in green, Washington, 23 to 20 in sucking, and barely in the stock price. So, they wanted the buzzer their Spotify over Ford and other than that, Matt meta, Disney are absolutely dominating Disney. Yeah, shut out in the greenwash, and sucking category and a really iffy stock price. We have more news about Disney coming up, but Disney and metal looking really strong coming out of the gate. I'm a little nervous because you guys, you rubs all chose Disney as your Champ and they are playing like Champs right now? No joke. Um I will I'm gonna let Matt get to the bracket Busters in a second. I wanted to just give a few tidbits first of all the green washers. So what I did is I went to every Every every team's newspaper every corporation has a newspage, a newsroom, and they all look identical. They're all ripping off each other. That's the two biggest green washers. Anyone want to guess with the two of the two biggest green washers are I would have, I would have guessed Starbucks and maybe Disney right now, right? Oh, I was gonna say maybe, Amazon. I was gonna say Amazon and probably Disney that would be right Amazon by far. The biggest green washer 13 news stories Amazon. Yeah in the last in a week in a seven day, period, 13 green Washi stories Netflix number two with ten although Netflix you know it's a little unfair because Netflix just promotes everything they're just they just want you sucked into their drug Den. So they'll just they have articles about everything, they don't want you to go anywhere that. That's the that's the point at Netflix. The 0 green washers are not too surprising companies like BlackRock JP Morgan and Berkshire doesn't surprise me black, rocks a little surprising but they're just not they're not Perpetual come washers right? They're subtle. Here's the best green washers Berkshire. I actually I think it Berkshire had issued any green washing automatically just giving you automatically that's it over because I I for our listeners go to the Berkshire Hathaway Is Corporate web pages. It's funny. It's funny to look at it's it's it's it's a complete outline. I kind of love them for on a 1972 crap onto a computer, that's what looks like. It's really, it is a geocities page, not even notice. That was a little, the best greenwashing story of the week, planted to make it to make the world feel good. Despite, you know, their company may be sucking, was McDonald's. You ready for this headline, really? This is the kind of crap, they're putting out at McDonald's in The Newsroom. This is the kind of stuff. They're trying to, you know, get people excited and happy and forget about the world. Here it is. This is true. This is an actual story, they put out. McDonald's, USA surprises fans with unexpected Szechuan sauce drop. What? That's in The Newsroom at a green. Watch. What, how is that? How is the Sichuan sauce? Drop agree. Because it's just like, it's just like it diversion. It's it's, you know, it's corporate diversion. It's a look at it. Look over here. So, the rules of this game are confusing because the greenwashed to me is when you say something about, like you're sustainability, Bona, fides and then don't actually do the thing or present. No evidence of it. You're suggesting that literally anything they say any nonsense attention away. How much they suck? Can you imagine? So yeah can you imagine? This is what people need to know. When you look for the corporate news of a company and you're thinking about investing or or maybe you maybe you do come at it with an ESG angle and you're just interested in what the company is up to. I and this is what they tell you. I mean that's better to say and McDonald's was like how can we divert the public some Szechuan sauce? Perfect. How about the story? About the story we pulled last week that despite promising to pull out of Russia, many McDonald's are still operating. How about that story? Yeah. I'm surprised. Do you think the big guns then a McDonald's? The big guns of distraction are when they drop those ribs? Yeah, that was the McRib sandwich must be like, actually, when they're really backed into a corner. Probably. Right. I've never had the McRib wash. Yeah, it looks disgusting. So I give them credit for that. I never eat that. The median greenwash story last week, was this and I do mean this. The median story went a little bit like this, like this, I have two examples, one from meta, how women today are shaping the future of the metaverse that's beautiful there that is, that's pure agreement. And then this one from Nike, The Nike athlete think, tank, invests in the future of women's sport. Another bulshit statement there. Yes, lady nicely done. Neither of them mentioned either discrimination or groping. It's really well played. The best battle best green watching battle in the round, one was Netflix versus Starbucks. Netflix took it 10 to 7? Let's move on to the suck category, where we did a Google Trend, search Worldwide, to see which companies people hate the most basically, we who was who was searching for terms, this company sucks. Is that it Matt? You explain. I don't know if I'm talking about, yeah, that's it. I mean like Google trans is easy, right? Like people are searching for stuff all day long, all the time. How many times do they search for company? And the words concept, but I've done it before. I've actually typed that into the search Barber for I know who wants to. I'll just tell you the suckiest two companies were actually Google hands out. I applaud Google for you know for not playing the propaganda again they're Google's no rush or Donald Trump they're actually they're admitting that a lot of people think they suck. So Google actually took it with a 44 in that category although we'll present those numbers Facebook close second at 42. But but when you really look at Facebook closely, Facebook had 402 but meta had 10 soccer Berg had five and Instagram had 20 so I think that the world of us, it's mostly Instagram. Yeah. Yeah the world of Facebook is really just sucking overall zero suck again. The Blue Chips here Berkshire JP Morgan City BlackRock. I know I don't think anybody cares is the point about, that's seriously know, everyone's just pressing. Do you think they showed the shoulders is it presupposed that I wish that more people would get a bot? To keep typing that in, this is the one criteria of this game where you could cheat. You could rig it for yourself. If you just Google. Meta sucks. Meta, sucks, met sucks. It'd be perfect. That does sound perfect over again. I think we need it. We need in bottled Rose. Best suck battle Spotify. Took down 423 to 20. This surprising battle there and Twitter outlasted Amazon, 38 to 21 the biggest suck blowout by far Google destroyed. JP Morgan 44-0 Hello, I'm a little annoyed that Twitter didn't Twitter's last year's Champion out in the first round out. Yeah. Well Amazon was very green Washi and it's Twitter's stock price outperformed Amazon. This let's get the stock price. Is that handed over to Matt, for his bracket Buster's, I don't know if you guys realize this, but last week was a incredible. It was a bull market. The stock market was zooming last week. That was inverse to my depression of the state of the world was the stock market. It's like rise to the club. Everybody was up except for one company and when I want to guess, only one company and our 32 Team Bracket was down. and it's one of the reasons why it led to an upset which Oh, it's got to be an upset then I would guess. Actually Uber was down and they upset was that they lost? I don't know. Uber was not down. I actually was up. No, it's Matt's favorite company. Home of Bobby caught dick. Cotech Activision Blizzard act. Did you call them? I'm looking at my daughter outside and she loves boba tea to it to a degree that I don't understand. In fact, I've never seen so many young women, buy a product like boba tea. I don't quite understand. He's like, it's, it's crazy though. So, what was I saying? Activision Blizzard the only company that went down in the stock market, which is good for this game. Of course, this is March Madness. The biggest risers all in our metaverse category Shopify. Oh, Roblox Roblox. Yeah. Anyway, that's my report from March. That is tournament. I like that. At least that is directly correlated to my feelings about the universe a quick bracket. But can I hear the jingle once again? Oh yeah, it's free. Percent of brackets had Spotify, Starbucks and Uber coming out around all. Wow, all of them. Lost all of them out around one. Snapchat. Actually broke 18% of brackets. They lost in round one, but we're picked his Champs in one in five, brackets. Snapchat busting Champs a bunch of people had them. Nike was the most chosen upset 91% picked them to win and they did if we consider Nike upset a 6 over 3 and Netflix was the least chosen upset only 27% of people hadn't Netflix winning in round one and they won. Oh, that's some quick bracket busting. I will say this, my bracket in excellent health. I missed a couple but nothing nothing that mattered. I still fully intact for final four Championship round. I don't usually get to do this. I don't usually get to correct. Matt Mascari live on air so I don't know or disappointed, but I have to, I have to correct. You, Matt Spotify one. It's opening round game. Oh, No, I said Snap Chat Spotify. Okay, in the in the okay, you have Spotify in the in the in the show notes. Got it, got it. So it's snap. Oh, I just so yeah, thank you. So Friday. We will get a little bit more into this. We'll talk to Aryan Emma about their feelings, on all this, and the games will be going on live again during our Friday show. So what we'll catch up on our March 10th. Let's do it. Let's get out of here. Let's do the news and let's go home, come on the news. Matt, what's going on? All right, here's the first story. The the sad story. I will start a sad Boeing, who is not a part of match March sadness this year. Still making the case that they should have been a Boeing 737-800 series playing crashed in China yesterday with 132 passengers on board. There is no word about survivors although it looks really Grim. The plane was not the max 8 that crashed two years ago this plane that crashed actually is a long track record of safety globally so there's no word if it was a problem with the plane itself or the chance is that it's a Boeing problem per se but here is our business pants governance undergarment of the day. What you ready for this? When you're bored and CEO are closer than your boxers are to your genitals, No One Believes it wasn't you, it wasn't your fault. You, they're really close. Really tight. Okay. Here's a quick walk down crony Lane. Just so we refreshed memories Ken duber rest in peace, Reagan, Reston station, rest in peace, just died, X Reagan administration, chief of staff goes to start. His own lobbying firm sits on the board of Boeing for 20 years. Most of which he's the head of the nominating committee. Duberstein uses his lobbyists, client, Rolodex, to cycle board. Members through bowing over and over and over again, including direct connections to current CEO. Dave Calhoun, this same incestuous board, who greenlit the max 8 that got the planes. That crashed, got the Boeing grounded, globally, the same. Incestuous board pushed out the CEO for crashing the plane and elected fellow board member. Dave Calhoun to be their new CEO. Dave's election is pure magic. Since two other Boeing board members. Sit on other boards. With Dave Calhoun, this is deep inside. I mean deep State, okay? A shark King. And really sure I will say like, Despite the fact that there are two plane crashes in the company clearly needed to move in a different direction. All the more shocking, right? All the more shocking even as Cheryl holders are putting pressure on Boeing to change up its board. The fresh blood they bring in, were actually all members of The Business Roundtable directly connected to Boeing board members. There is no Independence. How can you have Independence when, like, the people you bring to your board? Are their phone numbers are in your iPhone from the last Museum, Galilee doing two together like that's not Independence. Okay, no, it's not. So Here is my best guess reenactment of Boeing's. Emergency board meeting this morning when they hear the news, the tragic news of a playing Crash. Okay? So this isn't the actual boarding. This is your guess of that board meeting. This is my guest. I like, I don't want to happen in the actual board meeting. This is my guess starts off with Dave, who's CEO sitting down guys? We have a problem, it probably wasn't us, but another plane crashed. Long-standing token. Black guy Ronald Williams stands up and says, do we know where Dave says? It happened in China. Dave's bro and Lead independent director. Larry, Kellner, stands up. Wait, was it our fault? Can we at least say that this one was an Artful. This is when the new board member starts shifting in their seats. Like why does board member David Joyce? The company join this company. He is working. He worked at GE with where Calhoun worked for a while. He's shifting around uncomfortably and he's any kind of pipes up. Hey, everyone. I mean you can't really pin this on me guys. I literally just I just got here like it's more on you guys. This isn't it there? Yeah. And akhil jewelry. All. So relatively new who worked with Calhoun's best friend at UTC? Yeah me neither. I don't even know how to work. Exactly. I mean, I like, I don't know. Come on, it's not my, it's not, it can't be my fault, right? And that's when fellow Business Roundtable, bro. Steve mall and comp says, hey hey I just got here too. But we can't be finger pointing in this room. How is that going to look? Paws. And then says, I mean it's really the people we were placed it's probably there. Yeah. Right there. The ones who played and that's when Dave says hey let's keep our fingers crossed it just wasn't us. I don't know how planes work. I just wish everyone would stop blaming us for our products falling out of the sky. And I like how when you imagine and I like when you imagine board meetings that you also Imagine like long pauses in the board meetings. That's that's I like that that's how I imagine. I imagine like everyone's sitting in dead silence. I mean there's no word yet what that what caused the crash, but Boeing stock is down 7% and you you have to get the board was not thrilled that this happened. Remind me of the history of this. What, what did they rename? So they renamed the plane that previously crashed right to to try to skate. What was the? What was the? What was the name in? Remember, the original and the current? So the I believe they actually it was called the max, okay? And I believe they renamed it to just the the they got rid of the max. So, it's just ate sure. Here's a problem, bowling. Here's how stupid you here. So stupid, you actually are okay. so I know you're wondering you have a little bit of self-doubt but you know tinkering with your names and trying to like hide which plane crash and all you know can I just tell you what the only thing we care about the only we actually care about is the name Boeing Because I don't care. 7:30, some 7.47, Max AA Max. You know, like are Ranger Troy Aikman. I don't care what it's called. I'm just looking for Boeing and you can't, you can't, I guess you could change your company name. I mean other companies have done that you know, Mark Zuckerberg just did that. So maybe look into that because you clearly you gotta Rebrand higher. Clearly want to stay with you with your your incestuous leadership. So maybe I'm maybe you should try something else. Maybe just Rebrand the whole company. I think that honestly I think that's the best. Governor advice you're gonna get from business from the business pants. I'm, I shouldn't laugh because I don't like, I don't, I mean, I don't want there to be playing crashes. I don't want to be bowing there. Actually, in all seriousness. There is a, a harrowing video. All right, like that was on a security camera of the plane going down on the News, that's not good. No, it's it. I mean, like somebody found it. It is terrifying is not good news, but I can't imagine like, I like I can't imagine if Boeing is the same group of people over and over and over again and make decisions. How accountability if it was bowing at all, we're just going to keep looking to them because they just keeps happening. Okay, speaking of keep happening. Disney stays hot, everybody. Um, there's a there's a blockbuster report Blockbuster maybe in our world. Only report from CNBC. Today, here's the headline. Extremely awkward Bob chapek and Bob Iger had a falling out. They rarely talk and the rift looms over Disney's future. So for us, this is, this is gold. This is clickbait gold for us. Here's where the ending happened. The New York Times came out. The story in April 2022, 20. A month after the start of the pandemic. Where, and when we talked about all this, at the time where Bob Iger said, he wasn't going to turn chapek to the Wolves as brand new CEO of the world was falling apart. He told the New York Times, he would stick around to help run the company, right? He said, quote a crisis of this magnitude and its impact on Disney would necessarily result in my actively helping Bob and the company contend with it particularly since I ran the company for 15 years ago, that was it? Sorry, that was the end of the relationship because chapek was pissed. Yeah. Right. As you would be wasn't didn't need the help wasn't looking for a white knight. You know, realized like, oh, this guy's this idiot's coming back again. He can't actually retire. So, yeah, that's what happened. And I, I guess that's that they, they haven't been closed since. And it's been, you know, we speculated that we're secretly around the company. That's all that's wrong. Chapek has been responsible for everything. So all the all the missteps of all been chepik. And let me hear hear a few things have happened since since Eiger is officially left, there's been a dramatic reorganization of the company, the outing of actress Scarlett Johansson salary falling with dispute over her, Marvel movie, Black Widow that was all Bob chapek Iger did not support that it was chapek who dropped the ball on the don't say gay bill in Florida. In fact. I got attacked that bill on Twitter weeks before Bob waffled on it. So we called that we said he would have Other takeaways from Miracle. Chap has a harder exterior and at times, according to colleagues struggles with emotional intelligence. And that's what everyone loved about Bob. I'm sorry about Igor. So yeah. So chapek he centralized Disney leadership. He centralized budget power under his right hand man, Kareem Daniel. This is what happened since I left something about Kareem Daniel. That's interesting, is that he is black, which is an extreme Rarity among the primary leaders of global media companies. In fact, Kareem Daniel is the first black senior executive ever To report directly to the Disney CEO in the history of that company. Wow, inclusive. That's a feather. In a, I guess in Bob's cap in a sense. But the other rumors going around is that nobody believes that Kareem Daniel is capable of handling this power. The other the other bit of news here is that Bob shape books contract is actually up at the end of February 2023. So let's see if he can actually weather the storm. Well, here's the thing, I don't understand. Yeah, um yeah, yeah. Go ahead Iger. There's a board. That's involved. Yes, Igor unilaterally decides that he's gonna stick around. Because does not uncommon. Yeah, not uncommon, stick around for a little bit. Where is everyone else? Like there, it's not like a two-person company. It's like there's actually like a 10-person board that oversees these kind of big strategic decisions. Did anyone anyone on that board? Sit I go down and be like Chapek's, got it. Like we hired him to be CEO because he's got it. You do not there was a stick around. There was a sense from the reporting that they wanted to stay out of the fight, the only actually good. All right. Now the only thing, the only thing they actually just accelerated the timeline of chapek joining the boards so why not step aside and let that happen and take no ability for it. That makes sense. I guess it goes back to your story about Boeing and says she was bored. I think there's just there's just too much love for Bob Iger I suppose and don't forget another thing that we maybe should talk about more and maybe these things will come out. The more and more we get into our influencer score that we're developing here. If we flow media, is that a lot of these? Big companies boards are kind of filled with celebrity directors, right? I don't know that they actually represent a working counterbalance to the management. I think they pull in a lot of big names, a lot of big stars, you know, so I so I yeah, to your point, Matt. I don't know that there were capable of representing that kind of, I don't know if that's what they're there for. um, but yeah, that's what's going on at Disney? I guess it I I guess the question is, what what's next, you know, I mean, is Bob's gonna have to be consistently hitting on numbers that survive this because he's clearly not a cuddly Ken doll like like Bob. Iger. If you're chasing though, you have to be annoyed that like Iger was CEO and chair for like years and years and years. Then he's made CEO and Susan Arnold has made chair. Yeah, the board. So they separated it for him. And I grew decides unilaterally to stick around because Can't do anything without the help of and then he sticks around shape, excited, you on chip excited? I honestly like what your typical point of succession planning, if then you don't success the planning, right? Like that is the point. The point is the joke choices. Yeah, you put them in a position to succeed. And now what actually this story does is say, all of the failures are his father. Not. The story is almost like a plant for eager to say like should have stuck around. It's like the worst and and what the the story frames it around like Eiger versus bald Bob, but the real story is one, two, three, four, five, six, seven, eight, nine, ten. Ten other people whose jobs it is to choose the leadership of the company who effectively deferred, but those guys figured out, those were augers people though. I mean, those people have been along with the agar love, love the Beloved Iger. And I think this is they're saying part of the reason why chape book aggressively centralized leadership under his command, isn't that a fundamental problem? Like you have, I would say so there and there, I would say solely like allowed to just like, Let It Be A Fight Club in the back of the but it's all Yeah, but it's also a problem. I think that they're letting shape pick kind of like, get mad at Daddy, and, and kind of reorganized just to suit his own ego. I think that's all a problem. I mean, you like, it's too much of a seesaw, right? It's there's no happy medium here. I will say that. That Bob Iger is gone. He did officially leave the board in January. So we reported that. What he's at some Avatar. Come, he's a genius. Right. So he technically is gone, this is but this is Bob chapek's disaster, it's not a disaster but he's you know it's been interesting that that the negative PR has followed Bob around so I don't know. I don't know. I don't know what to say about that but that next thing. That's another questions. No, I have any other. I like the questions. Let me wrap up with this. And this is circling all the way back to the beginning of the show for Disney employees were arrested in mass human trafficking. Sting authorities, have arrested 108 people over the course of six days in where floor of course. Yeah. And you know what, you know what this operation was called, what I do. Matt knows, Emma, you ready for this? This operation is called March sadness 2. Does that mean that ours is the first ours? Is that I think that's deferential to us Actually March. Yeah, why does everybody steal our shit? Is the real question, why do they still are shit? Not listen to our show or listener? Numbers just suggests that they're not, they're stealing that was listening. I don't know how they're doing that. Yeah. We should do some math. Like, does that the right representation? What percentage of the employees Disney employers are there in, in general in Florida? Is it? This is 4% of the sting So, I wonder if that, I wonder if this is the right, I wonder if this shouldn't be shocked population in Florida. I imagine the 4% of the sting. They probably got the name. Yeah, well I think they got the name of the The Sting from the four employees, when they interrogated them, because they were listeners. That's what I like. They were listening to other ones. Okay. Well yeah congratulations for listening to our horribly missed show today. We actually have a listener question that we're going to deal with on Wednesday about SCC, climate disclosure to do that. We'll data Wednesday. That was Damian Wallace and Emma. Looking that was Damian Ross like four times signing in and signing out signing in signing out. I was at Scotty, we are free float media. We'll be back tomorrow with hopefully a quicker show than this one. We'll talk to you that.