Transcript
oh, yeah, yeah, I like doing yeah. Radio, open. Live from Netflix Television Studios in Long Island City New York. It's a Thursday quiz show Thursday here at Pacific. What kind of a name? Is that Thursday quiz show Thursday? Why can't they come up with a better name for us? Who's They isn't they you Join us. Always by Emma, oatmeal. Lurking, why do I always introduce Emma? Which she clearly doesn't work here anymore? I don't know. I don't know why you introduce her. She does work here just introduced her when she's not here, and that's Matt, Matthew mascardi. I'm the guy with the shirt and today's Strawberry Fields, scarf of bitter. ESG nuggets called June 16th 2022. A big fat fun quiz for Matt mascardi. Hell. What let's do it. We're actually deep in like, radio voice morning. Oh, all right. Well, Because you did so well on the quiz last week, even my my Courtney, my Courtney pointed out to me, you're yeah. She's like, wow, Matt really nailed that. In fact, you got like some Amazon related question within like twenty dollars and she was floored double show because that was pure dumb luck. That was pure dumb luck because of that dumb because of that, I'm Gonna Keep The Format. Basically the same no, multiple choice for you. You don't need that. You can actually forget it because you figured out my brain anyway. And you know how to answer those multiple choices. So he's usually a grammar joke. Okay, here we go. Natura. Remember the company nature? When we had a show called the blowhard index, you can convince me to That yeah. It's a big Court did terribly. They did terribly. Yeah. So they made its makeup in Brazil I believe. Yeah. The short, here's the header and nurturers CEO to step down and shake up at Brazil, cosmetic maker. Okay, so here's what's happening CEO and executive chair, Roberto Marquez, stepping down. They're also eliminating and sustainable growth officer and its Chief transformation officer. Okay, that's a lot. Wow! That's aren't though. Those all the woke positions, they just got rid of how did the company described the moves? How do the company described the moves? Oh wow. Um, well, first of all, is gonna be a move in the right direction and we, they're definitely gonna thank them for their incredible efforts for getting rid of this place where they're incredibly successful. but I think, Got to be. A milestone. They got to call it a milestone. Milestone. Oh, they didn't say it was a milestone. Here's the quote. The moves will simplify the company structure. Oh, that's a good way of describing that firing a bunch of Executives. When you have 30% less Executives, it is simpler, it is. And here's another reason why I picked this story. Didn't we predict that there was going to be a backlash against Chief sustainable sustainability officer? Did we not predict this? I thought we did. We were hoping that they would become CEOs. We were waiting for that. Well, but we had not happened so much. They're ostensibly a green Washi executive positions and unfortunately held by a lot of women, but it doesn't surprise me that this is gonna be I okay, let's predict it. Now, this is gonna be a position that's gonna be slashed. I bet in the near future, this is my that's my prediction, you think so you think we're gonna have no more sustainability office. Well, hey, we're in the anti-walk, you know, anti-esg battle and B their women. So you know, Actually that makes them harder to cut. Oh unless you're I mean like unless you're willing to take the the uf2 women in executive positions, are you three? What are they? A head of Human Resources? Correct. General counsel ahead of legal, correct. And then anything ESG sustainability, I mean we have a data to back it up. And which case, you know, if you're talking about, you got 10 to 12 Executives. And the only three women are those same three positions and you cut one of those positions, because it's a little too woke for you that also tends to be the person of color mind you. Let's, let's see. Brand risk attached. I wonder if this anti issue backlash is going to trickle into women. Women leadership. I wonder if like the numbers of women on boards and executive positions. I wonder if it's gonna start to stagnate if it's gonna Plateau or even diminish, I don't know because it's people still they lump those things together somehow on their pee brains, they do. So I love They do. Like I like the amount of people brains that exists. Really? Let's Do It. Come on. Back to the quiz. Okay, let's do it. Ryanair finally drops racist, Afrikaans test. Remember we talked about this last week? They're dropping over requirement. For South African passengers asking them to fill out a questionnaire in the Afrikaans language. Remember, this was the Dutch derived language associated with the apartheid regime. Okay? So this is a ya racist test that I actually saw is the third most spoken language, not the top like spoken language. So it's a test in the third, most spoken language. Here's the question. Why did CEO Michael O'Leary, who we've been featuring a lot in this show? Why did he say he was dropping the test? Oh, probably because it didn't make any sense to do anymore. Like he gonna say that they made an error. He said You, you nailed you have the teachers copy of this test. You have the student coach. Here's the quote, we have ended the African test because it doesn't make sense anymore. The racist, Orient test, made sense, I guess for up until next day. Yeah, it doesn't make sense. Now I guess what a jerk? But that Matt incredible you're I mean we could stop the whole thing right now, you killed everything out of sound effect. Amazing bonus question. How did CEO Michael Larry respond with the accusation that the Ryan had been engaging in racial profile? And how did he retire? I mean, when that's gonna be when we're only false false, I expect a little bit more out of your answers. Ridiculous. Closer Closer. He said, rubbish, rubbish. Oh, I'm not British sure. I'm not. He's all right. Anything is moving on. The headline is meet the mother daughter Mutual fun team who beat 97% of their peers over the past decade. Okay. Matt of the 10,000 or so funds available to us investors how many were run by all women investment teams as of the end of 2020. According to Morningstar. I'm looking for a number All women like an actual number. Actual number born in the Morning Star. It's and it can't have a decimal place because my guess is to be like point two. No decimal places. Actually 100 actual number. I'm gonna say an actual number 17. Oh, you're really pessimistic today. It's a, it's a horribly low number, it's 179, but no, it's not 17. Wow, you're pressed by that. 170 out of 10,000, that's more than 1% by contrast. 79% by contrast what percentage of funds are managed by all male teams Oh 906% 7%, all male 70. Like, that's a lot look, the reason why I'm saying that is because I looked at every one and I mean, everyone, if you haven't seen this, we did this. A black rocks actively managed funds. We looked at every single portfolio manager. There's over a hundred And the number of all male teams was over. It was like 90% it was all male teams. I don't know how people are more shocked by this. This is, I don't know whether or not either and we did it as a case study in like what how would you think that these people are going to vote their proxies for diversity, like, why would we be shocked that they vote against diversity, you know, shareholder proxies, if the teams are all men, all of them, like crazy. I mean, it's not just like male dominated. All all men, all men now, I feel now I feel. I feel that actually makes me feel more hopeful because the least woke is Blackrock right relative to average and they are the current anti-walk Target of wokeness. It's confusing back to the game. I'm confused so much things. Renault CEO says Russia can't Source. Key automobile parts. Russia will be forced to produce vehicles with out which basic features. Steering wheels. That's the that's the good answer. That's I wish that was the answer actually. The actual and I just love that. The actual answer is airbags and anti-lock braking systems. Oh and they're like breaks is something important to have. I was cold. There is a lot of ice airbag seem important too. Oh you know. Okay give or take. Okay moving on. Governor Ron DeSantis responds to Elon musk's likely vote for him for president. Remember, we talked to I think we talked about this some point this week Elon Musk said he likely back Republican Governor Ron DeSantis for president in. 2024, DeSantis was asked to respond and he said, he quote welcomed support from blank from what? Oh, I'm cheating here because I saw this. Oh, okay, cuz it was real ridiculous. This is real quote. He said he would welcome support from African Americans. This is what we've, this is a what? This is what we've come to this is I cannot. Yeah, I don't think we could overstate how absurd and answer that is the right something, right. You said that word? I think no. You think so? I think it's a, I just have you looking for a bit more negative. I think do if, Ron DeSantis was a Russian automobile, would he have a steering wheel or The real question. Yeah, it's a good. I think you'd have like, a series of ropes like Freight ropes like police. All right, moving on. It would be pulled by a horse, you know, there's the everything involving Elon Musk every single story and again, this is a CEO of S&P, 500 company. Probably he's actually CEO of like 17, S P, 500 companies, but I imagine yes that every story involving this guy is is vomit, inducing, J, or notice that? I I have. Yeah, because we keep covering, that's not my fault and I keep vomiting on my fault. Moving on, this is an annual tradition Burger. King Austria's at agency, apologize, for its much, criticized Pride, Whopper campaign. I don't know why these corporations paint rainbows on things every every pride month, but they do the ad features Burger's with what Matt, what what are they apologize for? Exactly. Well, first of all, having a pride Whopper is probably something worth it for, I mean, I don't know that we need to go cry if we're going farther than that. What is happening? Yeah. Did they did they actually coat the burger and colorful something that? Okay, the answer. Okay. Here's the answer, it matching buns, including one with two tops and two bottoms. So they're doing. They're making fun of their, their tongue and cheekily making fun of the describing gay men as either tops or tops or pasta joke. That's wow, that's where they went with the pride. Whopper Burger King. I'm not sure that's what Jesus. I mean I don't know what to say. Maybe just don't have pride Whopper maybe yeah maybe just write a check. Here's an important thing to consider a very important thing to consider when these things come out. Do you know how many layers of bureaucracy it has to go through it in order to approve it, it's not like a manager, a local manager of the store. I remember at marketing department company. Yeah, you have legal departments, you have teams. You have middle management, then it goes to upper management. People everywhere have to prove this. That means That whatever picture you saw that like celebrates the pride Whopper they first said Pride Whoppers a good idea second said, that's pretty funny. Yeah, let's go with that. I think what you're saying is that several straight men. Okay. This Ad campaign. Is that what you're saying? Several shape, white men, I'm guessing even if even if it was all gay men somehow doing it. So we're just not I'm gonna go with not a good idea. Moving on the headline is Netflix is planning a squid Game reality show. Yeah that's right squid Game reality show with a record for good idea. Yeah 4.56 million dollar cash prize. This actually reminds me the story we covered last year where they got a bunch of teachers together. I think in Minnesota or North Dakota and they they let loose a bunch of one dollar bills and they Scramble for it and some horrible. It was like the saddest most important thing. Yeah. Because school supply, that was right. It was just it was so they could help teach. Okay, so the yeah, so the this is inspired by squid game has it'll have 456 players competing for a 4.56 million dollar reward. Here's the question. Matt, what was the combined pay? Of cos Reed Hastings and Ted sarandos last year. Remember the, the prize in this game is 4.56 million dollars. What's the combined pay? Hey, do you die? If you lose in this game? Like, in the squid, game remains to be seen remains to be seen. I makes very excited to find that out. Maybe like maybe you don't, maybe you become more one of the third co-ceo can. Oh, what are you what? I see you try CEO. Um let's say The the take-home pay. Yeah, it's probably in the combined region of 200 million. Well, you're you're, you're, you're overshooting, it, but but but you are alluding to something important. So okay, the combined take home pay was 79 million dollars. Bonus question, what was the value of the option's exercise? Yeah, really Hastings last year. How much do you actually? Put in his bank account. Last year. Didn't? Yeah. What's the number call? Like 120 million in options. You're under selling it but again you're on the right track 400 and 452 million dollars. Wow I did not just under sell it. I forgot. I mean 52 million dollars. I like how we almost have symmetry there because the prize is 4.56 and he got 452 million. So we almost there, we're almost 1% bonus questions. Part 2, bonus question part two. What percentage of Netflix shareholders rejected? The pay plan for the coast CEOs. Oh, this is hard. Um, they're unhappy, it depends. Did they lose subscribers before the vote, or after the vote, because if they lost them before, the vote for them, I think that they would reject it more, because it would be so, upset, you're gonna go with 37% rejected it. Rejected, you have dyslexia reverse those numbers, a full 73%, and their own squid game over at Netflix 73% said no to this horse shit over at Netflix. That's a big number. They get paid anyway though because probably advisory vote. Yeah, it's advisory congratulations. So they got their own squid and Ted, and finally bonus question, part 3, while Netflix capitalizes over the glorification of watching, Desperate people battle to the death and silly kids games. Our Netflix directors required to stand for election annually. In front of Netflix shareholders, are they required system? I like that bonus question because I got it right. Okay, moving on Oh, former Young. This is my, I have to say, this is the favorite moment of my week. I love this because all the sound effects because I love that, you run the Amazon missing. Come on former Yahoo CEO, Marissa Mayer, mayor, Mayor mayor talked about her in a while. I know she's a favorite. What she did, what? To build a pool at her Palo Alto Mansion. What did she do? Okay, I know this answer first of all. Yeah, it's still I know it, because I read the news. Okay. But I'm actually upset that this is even a story. I almost picked this earlier this week as like, such a like a gross thing. Why you? Okay, so she toured down, three Houses. Right. Yes, to build her pool. I'm upset about it because if Marissa mayor were a male, yes, I don't believe this. You think I do? Okay, I don't think that this is like, like, I think this is like a thing that happens a lot, like, fucking Island and we cover that and the cover that But this is just purely for the outrageous clickbait. You might be right, but I'm gonna say Because I think this is really just about. Big Data CEO excess now, who cares? Yeah we're alone. Who cares? Move on just to provide the color here she yes Matt's. Right? She tore down three houses. She bought them for about 800 thousand dollars each so she can make a pool, but good for her, I mean, 8 dollars is like, jump change if you mean, does it get hot out there? That was actually quite Pleasant out there. I don't even know. I gets warm. It gets warm, it's changed. Yeah, back to the show. Back to the quiz, I should say, how, okay, how did micro strategy? CEO Mike's, Michael Saylor. Defend his decision to turn his Company's stock into a highly leveraged Bitcoin bet. I read about the fact that they actually have like a capital cushion up for this, so it's like, not quite as bad as it could be. Okay. Um, here very honest quote, very honest quote. That's a hint honest. Quote. Oh, Did he say I'm an idiot? Um, I'm gonna give you credit for that. Oh, really good job. He said, he's quote a little bit better but here's the quote. This is why he's defending his decision to turn his company stock into a highly leveraged Bitcoin. Bet he said, I can't come up with a better idea. Wow, that is like that, right? That's the sinked pretty straightforward. His answer is better than mine. You're right. He gets more credit. You're basically there. You're basically there. Okay. I couldn't come up with a better, was that? A Rancor. Yeah. Yesterday and an interview with CNBC this is not something I'm making up. So they said why did you do this? And he said I couldn't think of anything else that was what he had. Wow, games stopping of him very well GameStop. When's that shareholder vote? Moving on. Oh, this is one for you, Matt. Which they're all for me. Yeah, the only one here. Which Disney related headline. Do you like best? Oh, I like these Disney is selling a 110,000 dollar per person private jet tour of its 12, Global theme parks that's a 24-day private jet tour, okay? Okay yeah, I know you'd like to do that. Probably maybe or this headline Twitter. Axes company wide trip to Disneyland to cut costs ahead of all hands meeting with Elon Musk. Oh, I don't like either of these. Oh, this is this. I think you guys. I think that. I think that's the wrong answer actually. Yeah, no because because look Twitter staff, no matter how much you like to it, or don't like Twitter or feel about how much they get paid to effectively, you know, be a platform for racism and misogyny. They probably do work pretty hard and it's probably really sad to them that a diaper baby. Billionaire is taking them over and making arbitrary decisions about them. And that trip to Disneyland was probably the only thing and their lives that they were looking forward, only thing in the next few. Yeah yeah not that big game season 2, definitely not that but a 110,000 dollar private jet tours, 24 days. Sounds like I couldn't think of something I wanted to do like hell. Sounds like I literally, I literally can't think of anything. I want to do less than that in a VIP configured Boeing 757 and it's bowing. Oh, just drop a Boeing in there. Like it, I'm gonna I guess I'm gonna pick Twitter, Twitter. Because I I can't, it's just terrible. I can't get it wrong. Okay, my preference. Still, you got it right moving on like that. Amazon. Amazon held how many mandatory anti-union meetings each day in the weeks leading up to the Staten Island? Union vote? Is there a mandatory anti-union meetings each day? And this is, this is disclosed by an Amazon official. So this isn't like, you know, hearsay or this is a each day mandatory meetings about. So every day they had this many meetings, All right, well, let's see if you're working a 10-hour shifts. Once an hour is 10, okay? But they I mean, there's got to be A bathroom break. I'm going to say nine, I'm going to say nine to get for lunch break and bathrooms. Do they get bathroom breaks at Amazon? That's a double well they do get 12 seconds to pee in the bottle right? Let me check. Yes, that's true. Yes. The answer is actually a little bit more shocking 25. 25. Well, according to an Amazon official, who's testifying yesterday? Yeah. No. All right, so there that if we assume there's a 10-hour shift that's 600 minutes of time. If you divide that by 25, that's one every 24 minutes. I don't know what to tell you. How long is the meeting? It must be a one minute meeting. Write 25 minutes, a meeting. Maybe the hand you the Pea bottle and that's the meeting length. I have no idea. The meeting is like come in here. Don't unionize go back to work. That's the meeting. Yeah. All right and finally what is that? For the great quiz show. Finally my favorite June 16th 2022. Here we go. Oh, happy birthday. Courtney, I want to add that in just in case you. Oh, by the way, if you're in the Portland area, this summer, Portland, Maine. I think August Courtney Damien's significant other is in a show. Yeah, absolutely. That we're having a company Gathering and going to May of Street streaming. Doesn't know about you. Keep ml away though because she's She has a lot of viral communicable viral diseases. Is a lot of that's not true. All right, moving away. A lot of come on let's finish the quiz. I don't want to get fired. Here we go. and finally, Here are three headlines. That amused me. Tell me why. For each one. Oh, I gotta get this. I like to get in your head I like that. Okay, first one production at bedeviled baby formula Factory halted by storm. That one's obvious, right? This is obvious. Yeah. First of all, the word bedeviled say it all you got the alliteration in the adjusting alliteration. It's all about that. Yeah, really auction at. But Devil's baby formula Factory home. I mean I store it's like the whole thing really? Yeah. But you got that one, right? Next one. Tesla CEO reveals presidential leanings as crash numbers revealed. Oh, you like the double reveal? First of all, like, oh, I didn't even think he. That's true. As crash numbers revealed, like couldn't come up with two different words for that double reveal. What? And then I'm going to go with the juxtaposition, like, neither of those things are related. Presidential leanings and crash numbers are not related in any way and the word leanings. I meanings. I hate to tell you on this one, but I'm gonna have to give you Oh, I just thought this was a fabulous way of finally, like, deflating a massive CEO ego. It, I like how straightforward it is Tesla CEO reveals presidential leanings. That's crash numbers reveal. It seems like a takedown to me, I don't know. I just felt like. I like I don't think any of that is. I I don't think like I think it's an arbitrary clickbait of something like like you're right. Go for the presidential leanings or you gonna go for the crash numbers, right? Got you both. I don't know why I like that one. And finally. Okay. So then you buzz yourself because you don't even know why. And finally excellent. Here's the headline. This is a, I guess this is according to KPMG, according to report, but here's the headline. Now, the hard work begins on ESG. oh, I mean. We were analysts for you know decade you were you now the hard work begins. Now now we didn't do it. We know the hard work begins on good you know I'm glad that no one thinks we did any hard work for the 10 years that we did the hard work. I mean just to be clear KPMG, yeah. For three. Yeah three thousand years investors were trying to figure out more about what company that people, they lend to or the companies that what they do right now the shareholder. Because now now, again, I think, I think I got it. Yeah, I got it. All right, that's it. That's all I got. That's the show. Hey, I wish we could do this every day, but I'm glad that we don't. That is Damien Raul's. I am Mattie one, more thing. It might be a little bit late, but I just tell you, the first part of the quote, from KPMG to the first part of their quote, Fruit has all been achieved. The low hanging fruit. Sorry, I had you kidding me. Okay, we're done, we're done. You just make me angry. If you like this. Come back tomorrow. We're gonna do a weekly wrap-up. I am out next week but I am not off the air. Oh wait, because next week Matt McCarty, you're very own me. Yeah, we'll be on the sustainability Story, the CFA podcast with Matt or sag. That's right. I'm gonna be on another podcast talking about ESG stuff. In fact it looks like the podcast is going to be called ESG ratings. Yeah here's the here's your title. Is she rating? What they were meant to do how they are misused. Okay, description. I'm looking for our audience. Looking forward to that. The description. We're gonna discuss the issue ratings. Yeah. How they been used correctly and incorrectly? We're gonna talk about. We talked a lot about board saber metrics. What we do here free float and we talk about Italian rugby players, who have podcasts, okay? This is something he came up. Well, we will plug that show, give us the information we'll plug it all next week. It will plug out all next week. I won't see you next week, but I will see you tomorrow, until then goodbye.