Transcript
Hello. Hey, now Live from the top of painkiller Towers. It's a decoding, the silence edition of business pants. Joined as always, by Emma lurking. The third, I didn't realize that your dad was named, Emma, lurking, too. Me either. This is news to me and Matt he must be guilty of something. Come on, look at him with Scotty. Yeah. Don't you think? That's right. I'm microwave cheesecake. Really think how gross that is? Come on. That is not me that me. I am alone. Sorry. Alright. And today is Monday flavored back of nuggets called main night 2022. We finally found someone to question was willing to comment on the end of abortion rights in America. Oh, yes, us, we're gonna comment on it. Oh, and a game that features, the longest serving CEO on Wall Street. Why, why don't we do these things? Why do we do that Emma? Are we playing that George listener? I like all of them as games. So I don't, whenever she says, I, I can do a game on blah, blah, blah. I'm just like, yeah. I actually, I prefer all of them as predictions. I wish we just had ever every day. Daily prediction if the people, but then, I've got to look forward to on Friday. All right, come on, let's get to it. People weigh in people way in, we're on our Long Winter discussion. Do you want to just go, you ready? Yeah, well, just all right. Oh. Hopefully people know this last week the the supposed ruling on Rover versus Wayne Wayne's World. Robert this the supposed future ruling which will death overturn Rover versus Wade. Was leaked, of course, they don't know who was leaked by us, not really important. So here's what the three of us did this morning for two hours, which I think is why our voice was rasped because we were getting a little heated, is we were to say we're just discussing. Why the hell haven't incorporations? Wait in on this, they weigh in on everything. What's with the silence and, and we, we went around the track many times, which I hate running, but we got to this point, which I know sounds simplistic, but I don't care because this is the point. I'm gonna share is that, I think this is finally proof. Of the fact that most corporations are just run by dull, white dudes, right? Like, I, I know this sounds really stupid and simplistic, but I think this is where we landed really, right? Because there, I'll throw it out to you, too. I can't think of another reason why they wouldn't weigh in on this. Like, this is always been the Cornerstone of our human rights in America. This is the one thing that this is like the Bellwether, right? Like this is like we're not gonna get rid of this, right? Like this is the this is the thing like a woman's right to choose or Freedom or her own body. Is the one thing that we all kind of know. It's never been on it. It has been there, right? I think Emma could probably test to the fact that there's enough. Men, who treat objectify women in the first place to know that it never been the thing, right? But look, it is a wall. It is like a tsunami of white men who run companies in America And I we, we actually debated at length about how we were shocked, and not shocked about companies, weighing in here. And when we got to your point all the way back, it was just, it was just well, if you think about, who's gonna okay a statement, right? Is it the, the board that is, it's 76% men, or the CEOs that are 90% men almost all of them, or, like more. Are they the ones who are going to be like, weighing in on women's rights or they the ones who are going to say, actually, You know, like pro-life people buy, I didn't even know they think that I don't even think they think that actually, I think it's just that there again. They're dull. They don't really have an opinion. They're the same people who were either would be way too afraid to go to a woman's studies class and or are making fun of the fact that women Studies classes exist in the first place. I think they're some comment. No, I'm serious. I think there's some combination of that. I don't think they're all like. And I think that yes, yes, exactly. I think they even if they want to weigh in, they fear, maybe they fear the backlash, too. Because at first I was wondering if this was all because of the descent is Disney effect. Like maybe they're just maybe that blew up in a way that they're afraid of weighing in on things anymore. Emma. Can you definitively tell us raw. Rhonda santis is basically a dictator in Florida. He's got both houses of Florida legislature or whatever. He says becomes law and and he's limiting the rights of anyone who would vote him out. They're redistricting the whole thing. It's really terrible. Did he win the war against woke corporations now that they won't speak up 100% absolutely Ron DeSantis their murdered everyone in this game. I don't ya. Except the babies. Didn't murder, I can't give up. I'm not giving him that much credit in this because I, again, I I'm going, I'm circling back my original point. I think it's because of who we have in leadership, not only in America politically, but, and our at our corporations, I think this is a man problem. I think this is why they're being Silent. Not because of DeSantis because I I feel pretty. I feel my sense is that 90% of these men also believe in pro-choice so, First of all it's like it's like how when Trump got into office and everyone was talking about how he was gonna take you know, gay rights away and he was gonna you know be right you know anti-abortion whatever whatever and people ended up making the point of he doesn't care. The truth is that he doesn't really know and he doesn't really care. All he cares about is his own ego and his financial interests. So if when it comes to, you know, hiring a woman supporting abortion rights, whatever. He's just going to do the thing that works for him in that moment. Now where I am with you Damien where I do think it is a man problem, sorry to swing back and forth a little bit but where I do think it's a man problem with the main reason that all these men are speaking up is because they have actively participated in the political activity necessary. In order to make this overturn, a regality, they have been the ones donating to the candidates who have been fighting this battle. Since 1973. Or whatever year wrote was, I think it was 1973 to get this overturned. So they're gonna if they say anything, Super easy to dig up their companies donation history, and make them look like huge Hypocrites. So, PR companies like a headline. I saw earlier today, PR companies are advising the executives and corporations to not say anything but it's true but that doesn't stop them in the past they'll weigh in on black lives matter. The way on, on climate, change. The way on everything they're Hypocrites about. Wait don't they? With carefully constructed statements and not about a human rights. And like, I mean, like I, I do think there is, there is a fear element of saying anything, but I'm wondering, actually, this is the point we landed on pre-production to segue into the data, the Damien, pulled Damian pulled data for the show. Did you hear? I mean, they're between the wall of white men. And the employee is. The head of human resources. That is the person in between because what companies have chosen to do now, is and Marco, Rubio is trying to outlaw, at least the tax deduct tax deduction for it. Companies are saying to their employees. We will pay to Trout. Have you travel to get rights to the healthcare you need, if you can't get it in the state in which you live. So companies are like parsing. This line by saying. Well, you know, we believe in the rights of our employees, so we will make accessible what they need. Now, you have to go. I, what struck me about that was like, great. So, I want to make a choice about my body. I have to call up my HR rep and make sure I can get that, you know, travel approved by my company. That seems weird. But do we think that inside the c-suite, there's an argument being had where the dude is like, so what are we doing about this travel for abortion and the HR head of HR is like, well, we've got like 50 or 60, you know, requests from our employees to, to travel to States. Oh, well, and that I'm not sure this is a good quarter for that. Can they maybe wait, three quarters for the revenue streams to increase and the HR rep has to be like you know that babies are born, right? Like part of the problem here is it's not based on your Revenue site. Do you think that argument is happening? Is it happening for the joke? No, listen. I I wanted to happen. It's the first listeners have heard it. Why do we bring up the heads of Human Resources? Because remember, we predicted here that that during the pandemic, that the relevance of this title would grow Because of the pandemic and that maybe this was a Avenue a path for women to head global companies because of their in the increased magnitude of their importance, right? Because of the pandemic and all. Because now we're going through a little bit of a unionization movement at places like wall Starbucks and Amazon. So maybe that two will will magnify their present. And and so we dug into a little bit of data. You guys, you sent me an article about Fortune Magazine, contacted 30, the most powerful companies in America and to see what their response was on this, on the overturning Roe versus Wade and they don't have a response, okay. Yeah, I I again like so this is where the show starts. So really only maybe only 15% even said anything. But, but I love that fortune. Did go through all 30 And list their responses and the responses were did not respond. Did not respond. Did not respond declined. Did not respond to. I mean it's like the stupidest content I've ever. Let me just put out some of the things I found some of the outliers I found the data. So I went I collected every every head of Human Resources to see if there was a man or woman, I went to see if they were one of the top five paid Executives at the company. I also made a note, whether it's easy to find because some companies won't even tell you who the head of Human Resources is. But I also so, okay, I want to just let me just point out some of the, My Favorite Things I found. First of all, Bank of America, it's comment was fairly safe to say we won't have anything here. Oh, okay. Um, that's the thing. But this was interesting to me, we talked about how this could be a path for women to be CEOs of major corporations. Mary Barra? Did you guys know that Mary Baer was vice, president, Global human resources at GM from 2009 to 2011, so we're not wrong here. Wow, actually shocking, because she wouldn't okay, well, that's another personally that's another. Maybe she was personally offended that they want. How do you first place? Not? So I went to all 30 these companies they won't want to at least guess how many how guess how many men there are the head of human resources at these 30 companies? 30 biggest companies by Robert, according to forty companies? Well guess I don't know. I'm I'm gonna go with more emo. What do you go with seven? Oh, Emma, oddly optimistic know the answer was was three. Although yeah, Bill Strahan at Comcast. He's not he's kind of the head of human resources at Comcast cable and I think maybe that's also corporate. They weren't clear about that. So I was maybe it's two and a half he doesn't count Take them out two and a half. I these companies. How many do you think are these head of human resources are in the top five highest paid Executives of their company, according to the proxy statements and One's Gonna surprise you. I'm I I'd be more optimistic about that I'd say like 20 to 25% of them, maybe a quarter of them. So what's that 10? I was I was also gonna go with like 12 that you got guys, again you're being bizarrely optimistic, the head of Human Resources. One of the top five highest paying Executives at a company. You're crazy. It's only three, okay. Wow three but three Thirty. Here's one that might surprise Emma Deirdre O'Brien at Apple. One of the top five highest paid employees at all, I love that. I do believe. What what is Apple makes such a big deal about their company culture and about. Yeah. Like there are people oriented company and so it doesn't totally shocked me that their head of Human Resources gets paid well. Okay. And finally, I will say this although I wish I had taken a note of this, but I'll do it in my next pass. There's a lot of blonde women who are the head of human resources. Are they all white? Yeah, well yeah, oh, one of the 30. I think there's one that's not white out of the 30 women, but the one only one company made a statement, basically supporting their, their workers. And saying that they're going to do something about supporting them, can you guess anyone want to guess which company cares? It's a hard guess. Oh man. Uh actually, yeah, I'm gonna get to Amazon because Amazon was a winner in greenwashing during the March Madness Tournament. I they feel good to me. This seems like something they could say it's one of the four companies that's actually led by a female CEO and that's CVS Health. Yeah. So so okay. So that that's all I could find 25% of the companies run by women. Well yeah. Hang on interesting though. That CVS. So one run by a woman definitely but also CVS is a healthcare provider and many Yeah, that's interesting. They've been expanding and they've been trying out new things on the healthcare seen and so like it would not Shock me if not in the near future, CBS had plans to like provide abortions for people that would just hear It was a shot. Yeah yeah here's where that here's where that theory fails. Actually because we actually have a peer company of CVS in their industry with a woman as CEO. Yes, there's Walgreens there. Yeah, Matt, there's an industry that has more than one company to run by a woman. I know it's crazy, right? That's the real news. That's Walgreens also as a female CEO, but they had no comments. So, you know, I, I cannot understand how that, if you restart this at Amazon, which employs, one point, one million, human beings is not one of the top five like the, the largest employer in the United States next to same with Walmart. And they're not There and they're not they're not the most highest. But how many people do you have to manage in order to be like one of the top five I will tell you this they're only three so I can only count three men. Who were the head of Human Resources Global corporate head of Human Resources. I think Comcast Home Depot in Kroger. And what? And one of those men is actually in the top five highly paid. So 33% of the man made it. So I know a really horrible way to demonstrate data but this is what all Corporation all people do. Now we can cherry pick your data and make it tell a story but this data does sort of bizarrely, tell a story way more women, female CEOs have have a comment about the overturning of Roe versus Wade and of all the men who are actually ahead of Human Resources there, of course, highly paid. So yeah, there you go. Well, I do, I think I actually my final, takeaway of this is once again, the white man will stand up and say, no comment and the women who are tasked internally with dealing, with the employees, will have to clean up the problem tons of shit, tons, and tons of shit. Whether it's a pandemic or a basic human right Access to Health Care. like, They the team moms are going to have to do all the cleaning. Sorry. No, I agree. It does seem like a position that should be in the top top five highly paid these days. That's let's play a game. That's why I have there. That's my simplistic. Takeaway that it's, it's the reason why they're silent. It's because they're dude, that's my Simplicity takeaway. There you go. All right, I'm just saying, go ahead. speaking of dudes, let's play a game so Jamie dimon our friend Jamie dimon is if Mueller, our friend, obviously the Neil and chief is officially the longest serving CEO on Wall Street, all right, Jamie we see you and here at free float media. We honor the asshats that came before us and the dealer in Chief does deserve something special to commemorate moving money around for 16 years as the CEO Chase. So I present to you a the, our 16th annual our first annual in 16 years. Jamie dimon quiz. Are you ready? Yes. Okay. Number one. Oh, thank you, Damon. Yeah, let's do it. Amazing. All right. so, Number one? Yeah, I have to make it sounds. I have to buy you, right or wrong. Obviously. Yeah, do it. Come on. Number one. What is a TV? Show that recently served as inspiration for dear Jaime. Oh nice. Try number option. One Ted lasso Breaking Bad. SpongeBob, or Severance? What a TV show that served as an inspiration for Jamie Diamond. Oh yeah, I think I saw this. It was in a headline and I think it's Ted lasso. I think he's serving about like, the inspirational speech that Ted lasso gives or something. Hey, that that answer they were correct. Yeah. That answer makes sense to me because there is kind of a The effect of Ted lasso, that kind of like whitewashing of. Everything's a smile, right. Everything's good. Right. So that seems like a chief dealer kind of thing. Like, like, just shut up and be happy kind of vibe. Yeah, I'll go with that answer. Yep, it is So much. Whoa. Wow, there's so many Bells. You celebrate it. I was super right so much so that he baked or he I mean if Jamie Diamond has ever baked something in his entire life. I would really be shocked, but it did Inspire him to put together cookies in little pink boxes for his management team. Which oh he actually the story is that he did, that he went his own kitchen. I would like to see me. I don't it was unclear like the packaging. Oh, that's okay. I want to go. I have more data and that is the, in the TV show. Ted last. So Ted did the baking himself, obviously? Because as we all know, Jamie is, I can't just saying Jamie. I'm just saying I'm just I'm just saying and I can currently get a pink Ted lasso box, I'm sure. All right, number two, What Wall Street Scandal? Did Jamie sneakily have a hand in one Twitter, Elon Musk 2, theranos three wework, or four Lehman Brothers. Well, the last one seems like the most logical. I'm gonna say we were well he I don't know why I mean he would have I don't think he sneakily had a hand in it because he bought bear Stearns like he bought there, right? He bought it super cheap. He mean JP Morgan. I mean, JP Morgan did but, you know, like subsidized and then because he got that Super cheap and subsidized. The treasury Department had to basically say we can't do that again. There was so much backlash so in a way he helped, To kill Lehman Brothers, buying bear. So I'm gonna go, I'm only going with wework because when I think of we work I think of Yellow Cabs in Manhattan and like weird, dudes running around with big So who got the Bell that chime is actually gonna be for both of you because well, Damian is technically correct. It is wework. I am kind of impressed by Matt's reasoning so he gets the time, don't be impressed. Yes yeah so yeah, it was we were Jamie dimon was actually one of the earliest backers of wework and when everything started to go under oh sorry. And when the company started to, you know, Avalanche little Jamie dimon said to him, you have to think of the shareholders, you have to think of the company and classic Jamie dimon style and I think that's essentially how Adam Neumann ended up leaving. So, do you think if there was like a crime scene in and out of Newman killed? Somebody that that Jamie would send Joey Romeo and to clean up the crime scene? You were just you were just looking for an excuse to bring. Just imagine your room with like one of those like Clorox antibacterial wipes, which is coming in with under his shoulder and Just doing some. Okay, I don't know, just me or one of those like, Sprint lows, like bugs spray buckets. That just me. You bleach on, you have that same vision. Okay, moving on. Moving on number three, how many times has Jamie dimon been rumored to be the new US Treasury secretary? Oh, that's a good one. I yeah, I was that three times four times or five times. It's every time I'm guessing it every time a Democrat is elected. So I'm gonna say Well, what does that happen anymore? No, he was rumored during the W here too. So it's more of a. Yeah, maybe that's true. I'm gonna say three. I think about Bush. I'm gonna say bush. It was a Goldman Alum. Is the Goldman CEO became treasury secretary under W and they're like damn thought I I think it's I'm gonna go with W. Obama won and Trump. I'm going to say both going through. What's going through? Yeah, it is too. It was just Trump and Biden. Both Trump. Really bye. But he says, he Biden. You just did not covet the job. So even if offered, he probably wouldn't have taken it anyway. Okay. All right. And finally the best question. Oh, how did the New York Times magazine characterize Jamie dimon in a profile from a 2010? The DaVinci of America's banking Renaissance, the new face of American banking, America's Least hated Banker or The Reincarnation of JP Morgan. I like the least that's like it's like I'm gonna go with that. I like I like the use of the phrase. I'm going to go with that because of the timing of the profile the profiles in 2010. Oh yeah. It's a crisis happened and everybody and this is all. So 2011 is when Diamond had his own London whale problem where they got overlay. Well those Pre-weekend. I almost didn't include the year that it was from because I was afraid that you guys would know enough that it would give it away, you are correct. It was America's Least hated Bank. How do they have? I know that was this New York Magazine, New York Times, magnetic on your time. I thought this is like real journalism. Oh, it was at least. Hey, let me know in New York Times, it really times. I do data. Every day, call me, we're gonna talk, you have no, you can't do. You can't do that as journals. You have no there's no base of knowing he's the least hated. Dare you. That is the least hated host of this show. Damien Raoul and the second least hated. Producer of the show mlking. I am the most hated participant in the show. Matt mascardi, we are free flow media. If you like this, come back tomorrow where we'll do more of it if you don't like this, come back. Anyway, we'll see you then goodbye.