Transcript
Live from Kroger headquarters in Cincinnati Ohio. Where Kroger? CEO? Rodney McMullen keeps declining. Disney CEO, Bob shapx FaceTime calls. It's a light-hearted Bearable Thursday edition of business pants. Joined as always by the lurker and the madman. I'm a heart-shaped chocolate cake with cream, filling and chocolate glazing. By the way, does that really is? That Kroger does. The Kroger thing need some explanation? Probably. Yes right, go ahead, go ahead. Don't say gay Bill introduced in Ohio. And we're waiting on the Kroger CEO to get. Whoa. What do we think? I looked at the list of the list of Ohio companies headquarters Ohio, it ain't gonna happen. I'm pretty sure that This is from a guy who had his undergraduate degree in Ohio. It's just Anka happened today, Ziploc bag called April 7th 2022. This we have two new games, the CEO headline, reality TV show game, White dude, offsets. Yeah, and alerting game by Emma lurking. Know we really do create. I know nobody listens to nobody cares but we our content. Come on. This is a plus constant and really is next level. Let's do this thing. Who's doing this? Let's do it. Okay. Mine's long. Of course, I don't care because it's a New Concept and I think I did it. I really did it for Emma. So I'm hoping I I please Here's our win. I decided to pick all kinds of crazy, CEO headlines. And then I realized like, you know, these are basically reality TV shows. So I went and I matched up the headline with the reality show on the network and we're gonna see how it works. We're gonna see how okay, I'm excited. Here we go. First headlines, space industry CEOs, pledged to create more inclusive. Workforce. Alright, good job at the play. And yes, I think this is kind of a first, they named their pledge. It's called the space Workforce 2030 plus really That was cute. Uh, maybe the pledgor should buy a mirror because only 17% of the pledges are women. But okay, let's just match up to. Let's match up the headline, really could be any show on the subject of our culture's greatest pledge vow promise scam and that's wedding shows and I'll say, let's go with Say Yes to the Dress On TLC because I think our very own ammo lurking. Secretly loves it. Alright that's it. Wow, such a secret Okay. It's not a secret anymore. All right. See how the game works? All right. It just seems like you just told us the answer. Yeah, yeah. Well, that's the game. Yeah, absolutely. I'm ready? I'm not gonna slow it down with a quiz. This is I'm the game is I'm matching things and you guys are gonna die. Yeah. Apparently we're just, we're yours on the game plays by himself. It's a game for me. Here we go. Two. Next one, two related headlines here. First Star Entertainment CEO. Matt bekier resigned takes responsibility amid ongoing investigation over possible breaches of anti-money laundering and counter-terrorism laws at his Casino's and another headline Pharmacy CEO to pay full restitution and 15 million dollar and bezel mint scheme. I mean if you want to guess the show you can if you're not looking at my script Love is Blind. um, Shark Tank. Oh nice one know that the real the real answer is cnbc's American Greed, which focuses on cases of Ponzi schemes, embezzlement and other white collar crimes around the nose for you. Moving on Activision, CEOs meeting with options Trader under us. Probe this is a good one. So Bob member Bobby kotick in The Insider Traders including Alexander Von Furstenberg great name. Matt a week, they met a week before they did their insider trading, they had a brunch together. And here's this fabulous quote, from Bobby Kotex spokesperson. Yes he has a spokesperson, he said this to Reuters, Mr. Kotik had a social brunch with his friends at a popular restaurant. He of course, didn't share any information with them, regarding a possible transaction with Microsoft. I love that. No I didn't. Come up. He didn't it didn't. Come up horse it was brunch time. Yeah they just happened to buy a shitload of shares are so anyone want to guess or should I just play the game myself? I'm gonna go with America's Next Top Model. Whoa, I'm gonna go. Married at First Sight. I went purely insider trading here. Here's an oldie, but a goodie, a CBS TV movie called Martha Behind Bars. Oh yeah. Really obscure about Starbucks CEO announces nfts to workers amid Union Drive anybody? Oh, Wait. taxi cab, confessions Cash Cab. Nice leader. This sounds like something nobody needs. So I went with a show that nobody needs and that's that's all about made up junk and that's TLC's Long Island Medium. Oh, Here's the headline, this is this is actually from the financial times can can Goldman Sachs CEO David Solomon? DJ and investigation. Yeah, this is from the Ft as you not and he guesses the simple life. What know that VH1 show where they used to bring you inside celebrity houses. Wrong. The answer is cnbc's. Secret Lives of the super it's pretty close. I was Close. Moving on. Do right by customers. After reports that hurts customers were arrested. Some even jailed and held at gunpoint after fallstaff reports. I guess her to his calling in their rental cars as stolen. And yeah, I seriously anyone any guesses here. This is an easy one. I should have saved Cash Cab for this one, but now I'm gonna go Formula One drive to survive. No, it's this one. You have to focus on the pledge. The vowel and the blind vowel is Love is Blind again. Again, Love is Blind only show, you know? No, it's actually, it's the 33rd season of Cops on something called Fox Nation. But 30, third season, there are something to us. Celebrate. Next one, the CEO who fired employees over. Zoom is back and now he's asking more to quit Undercover Boss. Oh, nicely played. I would have gone on this one with Project Runway. As this sounds like a show that just won't quit, no matter how much I wanted to quit. So I'll go with all 26 seasons of The Bachelor on Disney's. You couldn't get with Survivor but one with the bachelor nice. Here's the next one. Why aren't fat CEO salaries more of a marketing crisis? This comes from adweek. The story. Oh, I was thinking I think I'm a nose where I'm going with this dealer. No Deal easy joke. Oh I was gonna go with intervention that A&E show. Oh my God. Close. Its back to TLC, it's TLC, right? Yeah. Back to TLC. This one is my 600 pound life. Oh, that's a show next. Yes, it is. Unfortunately, and there's actually off to that show. Matt. The next one. Starbucks CEO wines. That companies are being assaulted by the threat of unionization is true. That one feels like Cash Cab. You can't just keep saying, no, but it's like what is fighting? Oh, you're getting close to? Yeah, fighting is. What is top of like, what is the show? Where people fight a lot? I'm like the real world. Oh, does oh, wrestling count does like, There's like, WWE count. That's real, that's a reality. Come on. Yeah, the challenge you're close. This just sounds nauseating to me. So, I'm gonna go with Celebrity, Big Brother on CBS, I can see it now. Howard Schultz, arguing with Jamie, dimon's, son-in-law Joey, Romeo about how entitled the other house guests are when they leave the water running while brushing their teeth. Oh yeah. All right, speaking of Jamie, here's the next headline, it's almost like you Morgan, CEO. Jamie dimon calls for an increased minimum wage saying people who work started jobs like cashiers cooks or bank tellers. Don't get the dignity they deserve. Anybody. Oh, he showed about classes him. What's a real? This is on Netflix that helps and I'm gonna Oh, You Think You Can Dance? Here we go. This just to me. This just feels like Netflix is tindler swindler. Like it's some kind of weird. Con game, where, the guy running the con game is calling all the shots and nobody goes to jail. Oh yeah. Oh okay, not good. Only two more left. So bear with me here. Here we go. Elon Musk, SpaceX want to kill baby, sea, turtles to get to Mars. This is a real headline, if it blows up, it's cool. The far out philosophy. That explains. Why Elon Musk won't let a few baby sea. Turtles, stop spacex's quest to get to Mars, anybody Um, RuPaul's Drag Race. I was gonna go just saying it Earth. Oh, I'm gonna give that death. I'm gonna give you. I'll give that one to you. I'm a lurking. I was gonna go with shark week but I ended up on BBC's, Blue Planet. So I'll give you. That's a good one too. And and finally, you should be able to get this one. Maybe you already said it today. I don't know. You were closed. Okay. Here, a series of headlines and the final of our new game, the final of our new matching, whatever this was game is, here we go Tesla CEO, Elon Musk by state and Twitter, Amazon, CEO Andy, Jesse's pay package totaled more than 212 million dollars during his first year running the company and CEO pay is skyrocketing as the average workers struggles to keep up with inflation. What's the show? The Martian The hoarders. That's it. Exactly. Hoarders. Oh, congratulations to Emma for whatever. That was thanks for putting up with me. Whatever, that was Emma, just won it. Okay, let's, let's go to something a little bit more entertaining, shall we, which is, oh my segment. One of the recommendations in the un's latest Doom, Laden, sludge metal album titled, climate change, 2022, is that we actually have to start removing carbon from the air to stay at one point. Five degrees Celsius above normal companies, have already been tapping carbon offsets to get that done. So they can keep on vowing to be carbon neutral without doing anything and crypto Bros or moving into blockchain based markets for carbon offsets. But here's a question that no one was asking. Why are we just offsetting carbon? Until now here's the headline expensive unusual diversity Drive expensify. A company that makes submitting receipts to your corporate Overlord 7%, less horrible has plans to create white dude, offsets. This is not a joke. This is a real headline, expensify will donate 25 cents for every dollar. It pays to white male employees to its company, non-profit expensify dot org. It's like a white guilt tax on itself until it hires enough women and people of color to stop donating so much to itself, I guess. So I reached out and and we have right now, a fancy expert moment I reached out to one of the foremost experts in ESG to ask what other male behaviors could use offsetting. Wait, you didn't call me. Well, who do you know? I did not call you because I actually talked to an expert and these offset proposals come from courtesy of Jaclyn Bouchard the head of ESG a prequel, who is actually a client, a free float, a free float analytics. Call wait, this sounds like an awkward related party transaction. That's right, we have clients, speaking on behalf of herself, of course she asked in no particular order for the following offsets companies. Are you listening? Let's make this a reality first up. A mansplaining offset. Donating 10% of every man's salary per minute? They mansplain to a female Superior. I thought those hermit it? Yeah, per minute. Wow, should be expensive. Waits, 10 minutes is the full full salary? They're out. They lost their money. I think we should change that total compensation, not just the salary report. It's also an opportunity to hire more women to be there with stopwatches. During every conversation, every I would 100% buy my everyone in the company. What are you talking about? I'm gonna let me explain something to you. All right? Number two. Man spreading offset. Oh, okay. Increasing the subway fare for men by 60% during Peak Rush Hour periods to accommodate their crotches. I thought that was great because a good one that makes sense. That's, isn't that great? Yeah, it's a win-win for everybody. Especially those, especially the trains that the trains built by the Japanese like the like the the bullet trains or whatever line that the four train, you know, they had the mini seat. Yeah, I'm trying to say yeah you know I'm saying so much time on Japanese trains. I can't be though number three lactation room. Offsets donating one breast pump to charity every time. A man walks into a lactation room without knocking because dude, this is where I go for a long time. Holy Is that real thing? Oh yeah. That's a real thing. That's a real thing. You ask any woman who's had been locked who's had a baby and his pumping What ends up happening went? Because like men just like unlock it or walk in It happens. And Holy thanks to Jaclyn Boucher for these excellent recommendations for expensive. This is real, they really can't an hour talking about offsets. Why do we why do we have you? Why do we have, you know, number four. Well she has a real job. Yeah. Dick War offsets. For every rocket launched into the mesopause by a male, CEO, or billionaire 6 billion dollars is donated to solve world hunger. That's where the cryptos Ellis making offsets for all dude problems. I want the nft of this, that's it. Thanks to Jaqueline for that. But look, can we just talk about this for a second? We talk about it for many seconds as you want, what? So Emma says no serious. Right? This, this is a very real thing that expensive is doing. Yes. So what is it? This is kind of like the, isn't there a tradition like when you in the Catholic church? And I'm not just picking on Catholics here. There's only because this is all I know about is that like, you can murder a dude, but if you go to confession, it's kind of okay. Like, is this, what's happening? Like they're gonna just gonna pay away their horrible diversity, is that? That's correct. Well, um, I my guess is that they looked at their people and they they know how much it would cost and there are not a lot of white dudes there already and they're basically saying we can offset I my suggestion expense, if I would be if white dudes are a problem at your company, hire less of them, Yeah, I don't really add some 25 cents. You're already giving here your own. Don't charity, most for most corporations have a charitable giving program. Anyway, is this? Just like a cheeky way of coming up with nonsense. I just don't buy it. And by the way I looked into expensify, this is another one of these controlled dictatorships. They have Matt, you'll be happy, you know, they don't have two classes of voting. So they have three, this guy manipulates his Empire with one. Stock is one vote. One is worth 10 vote in the third is worth 50% of, you know, plays like congratulations, donate, a share of 50 vote shares to every minority that you've hired. How about that? Yeah. How about for every not for every white dude. Yeah, exactly. How about you donate your voting power? I would love somebody white dude class shares and they have 0.5 voting power. There you go. Exactly point one. I like great. Ideas that were right now. Do something. All right, let's do something fun for once, shall we? Here we go. Oh yeah. Emma's you give them a few buttons. I love you button. All right? So Today there's a new game because this is my section. So I get to control the buttons on my stops. The theme music from out. Why can't you? Because this is a once again Damien's about to get white man taxed right now or whatever. I'm gonna throw his ass, a fine. All right, come on. So lots of news has been coming out of the SEC lately, so we are going to play a game called SEC says, Oh it's only. I actually I I don't know enough about what the SEC says because I read Hester Peirce, that's all I read enough. So the premise of this game is that I'm going to be presenting a topic and you were going to guess what? The SEC set about it in response. What its involvement was whatever I like it. I like this. As always may ask contextual questions if necessary but I reserve the right to ignore them at Highway wish. Yes. All right. Number one, here's your topic. Yeah. Amazon wanted the SEC to exclude a shareholder proposal asking for more tax transparency from their 2022 proxy. What did the SEC say? Honest, I I think I might know the answer to this. I think they said, Sorry. But no, yeah, I think they said, no. Also you have to include the proposal. Oh that's correct. It was so gentle was a very well. That's a very mild wind. It was very mild wind because Matt cheated off of David and who really knew the answer but that no, I would have said no. I was ready to say no I'm gonna have to talk for not you're right. Matt didn't know. It's only am I really knows going on the world because we're the only ones. So the headline is as such as SEC says, they rule against Amazon in a dispute with investors over track tax transparency. And so what they literally said was, we are unable to concur with your view that the company May exclude the proposal, in our view, the proposal transcends ordinary business matters, Other words, in other words saying get over yourself. It's gonna go to a vote. Shut up. I don't just write that lose anyway, but yeah, just write that, I don't know, people feel this is just write this, they should write. It's, it's gonna fail anyway, so why not throw it up there, cares. All right. Well, because then they have to say, our recommendation on this is that you vote know which is a bad look as well. All right, number two, Here's your topic. McDonald's wanted the SEC to exclude a shareholder proposal asking for an independent racial audit to assess their civil rights impact from their 2022 proxy. What did the SEC say? Well they've already. Why did they, they passed this other places as in? It's gone to the proxy and why? Yeah, why wouldn't they even want this to go up there? Like what I wonder what their reasoning was? I'm gonna I think this is a trick question trade secret. Is the sea SEC did not include it because I think this is a trick question, but they let this go up everywhere else. I don't know why they would do that. Well because I'm horrible playing games, I'm gonna say, they absolutely did not let them excluded because everyone else has these boats. What would be the reasoning? I can't, I can't understand it. Damian is correct. The Etsy says to vote this spring on civil rights audit, what they literally said we are unable to her in your view that the company makes proposal. In our view, the proposal transcends ordinary business matters. It was identical. It's got a base baby. When I was doing this research, I had a moment where I was like, am I on the wrong article? I think I just read that. Did they make a mistake? But it was two totally different Publications. They were talking about two totally different things, but they used the exact same verbiage copy. Let me tell you a little secret. Yeah, when I used to work at a used to work at a very giant ESG research, no way. When I'm not gonna say oh here's a little secret. Here's what I would do. I would write a big report on like the corporate governance of let's say apple. And then, and then my next assignment was saying, like, General Electric, I would copy and paste the entire report over and then I would just replace the word apple with General Electric and I would publish. That's all I would do. I would do that all day long. I wonder you. That's how I got promoted. That's how the business World works. That's how it goes. Okay, fine, that's depressing, but that's really all right, number? I, don't believe you ever had a job. That's, that's him. That's an interesting premise too. All right. Number three. The SEC is in the middle of figuring out how to regulate crypto and they were deliberating over whether or not companies that manage their customers crypto Holdings must declare them on their own balance sheets. What the SEC say. See, I know the answer to this, I would hope. All right, then Damon, I don't know the answer. I would hope I would hope that there would ask for disclosure. I mean, isn't that the sec's ball game? It's just like, disclosed, it's not as a to put a to. It's not necessarily about disclosure, it's about, you know, what they are and are not responsible for asset and liability wise. I have no idea what's going on anymore. So the answer is yes, they're gonna Force like the four companies that have crept out of put them on their balance sheets, so micro strategies. I don't know. If you're listening to us, I assume you are. This one's about you. That is correct. They did say yes, we're killing this crypto mom has your peers, did not like this role. Oh, why not? And she said, yes it's not the sec's job to inhibit Innovation and things like that. So yeah, she doesn't like she did she actually do things in the dark, what she said, what she actually said, was this rule? It probably makes sense. And then spent the rest of her dissent or her statement on this, this comment, it basically saying like the SEC is in the dark and should not be regulating Innovation and all that kind of stuff. But that was, after, at the very beginning, she said this rules probably a good idea what I actually have a, I have a weird story for you. Were not gonna believe. I actually, was I in college? I I was roommates with Hester, were you? She wouldn't even let me put a, she wouldn't even let me put a light in the pantry. Yeah, I'm looking for cinnamon and I look for cinnamon and I end up with like chili like powder. I don't know, I don't know what was going on. It has to just he's got like people to know. You gotta innovate. That's what you've got to do. Just get out of the market and innovate. And finally number four, here's your topic. Elon Musk and his legal team are arguing, that the SEC shouldn't have been able to subpoena musk's Tweets in their investigation of his 2018 and 2021 tweetz. What did the Seas say? Screw that. It's public record. I mean, they were public tweet. Yeah. I mean what, what are we doing here? Like you're dope. I think my Twitter that I think that was their official statement. You're a dope. Yes those are all basically correct. The SEC says they claimed authority to subpoena Elon Musk over tweets. What they literally said was so long as musk and Tesla use musk's Twitter account, to disclose information to investors. The SEC made legitimately investigate matters relating to Tesla's disclosure controls and procedures, including musk's tweets about Tesla as well as the accuracy of Tesla's public statements about its controls and procedures. Good job. No brain. Yeah, that's a stupid lawsuit. That's why he bought Twitter because he's, he thinks he can like what is he think he can do? He can. What is he gonna do? He's gonna tweet at Hester. I don't know his side clearly, okay? All right, that's a beautiful game. Thank you. That was a beautiful game and a beautiful show and buy beautiful. I mean Waste of your time. We are free flow media. That is business pants. Will see you tomorrow for our long-form show. We do not have a fancy expert coming up. Although we might have an unfancy expert. Maybe. Yeah. The either this week or next week we're trying to settle it. The winner of the March sadness tournament should have been me is like to join us for a physicians assistant. How is that not fancy that I didn't smile. I said well he's not a sheep. First of all and that you're you're not that fancy. Like he's not coming your wearing business pants. He's wearing position pants a different Join us tomorrow and we'll see you then good. Bye.