Business Pants – 2022-07-05

oh, Live from my pet raccoons, walk-in closet. It's a magical post holiday Monday. Wait, it's actually Tuesday edition of business pants. Join us always Summer Breeze, lurking. And Matt being green is an easy mascardi. I'm unleaded. Oh okay, your gasoline. Now in today's pork marked Satchel of rainbow scented nuggets called July 5th. 2022. Sexy story, updates, sleazy academic papers and mo. Alerting new. Daily Trends report, diving. Yeah! What a name for it? No, we don't name right now. It's Emma's trendy. Dumpster dive. Oh, I like that. Emma's trendy. Dumpster dive. See if we have some new magic with him yet. Another yet another segment here. Free flow me to. All right. Ready, come on. Yeah, let's do it. Hurry up. We're putting a timer on Damien today. We are taking a while. I already lost four seven plus five, go go. All the A-list guests who have been spotted at Sun Valley, the annual summer camp for billionaires. I just wanted to point out some Oddities from this list. First of all, Facebook CEO Sheryl Sandberg according to Business Insider. I don't know. See, oh yeah. What are you doing? Business and say you don't you don't listen to us, I mean, Really. Next Jeffrey katzenberg. I like this one. The co-founder of DreamWorks in the now defunct quibi. Why does he get? Why do they put his failure in his? Violin did they wrote they wrote now that quibi how dare that? They didn't just write quibi. They were now defunct. So now I also like this one Stanley druckenmiller the home before former hedge fund manager that I don't know. That kind of thing to be a former hedge fund. Former, is that okay? I like this one. I like this one and I say sorry to Susan Arnold Disney chairman. Bob Iger. Oh I didn't know that he's not back. No doesn't say former man. Says wow current. Yeah, ouch. So businesses that are you growing? You can continue to suck. This is what I like just because I hate this term but they call Cher. They call Shari redstone The chairman of Viacom CBS. Oh yes, yeah, I need to retire that. I hate that. I hate that. So, yeah, what is wrong with chair? What is just wrong? Nothing chair. Finally, you know, is that the summer camp for billionaires? Matt. Know, you know who they get to hang out with? That's Activision. Blizzard CEO Bobby kotick. Yes he's at summer. Oh yay! What is say when you see this guy how do you pretend to have a conversation with him over? Some fried saying, I read all the letters that you were responses in your proxy statements. They were excellent about all the progress you've made on. Let's move over to stakeholders rule. Stakeholders rule Burger, King employee, Kevin Fort. He never missed a day's work. In 27 years, he was a cook at a Burger King location. So Burger King gave him some presents. They gave him a string, backpack, a movie ticket, a lanyard, a coffee cup. And some candy, this never work in 27 years. So it was worth it. It was posted the tiktok he actually posted it not and he wasn't shaming the company. He was just like he's a sweet guy, he just posted it on tiktok, it got a lot of attention, he ended up with a GoFundMe page, his daughter, put it up there to help him raise 200 dollars. So he could visit his grandchildren, write 200 dollars. Right now, the string backpack and you're covered. Right now, that GoFundMe is currently at 357 thousand dollars. There you go. Wow. That's it's good to know that. Thanks Corporation. Can take advantage of you for 27 years and someone else will fund your actual needs. I've got some green washing this week, the NFL pledging 100 million dollars with a contract with an ice cube. An ice cube operated thing to give to funnel more NFL money into black owned companies. I don't know. This is just strikes me as anything NFL does strike me as preemptive greenwashing. I do think that the headline know as written. Yeah. Ice Cube plans, 100 million NFL pledged with for contract with black America. He didn't know it was called contract with black America. That's the name of the org. You just be like, they made a contract, with black American owners, get some black coaches and forget your weird contract, dare you. Amazon is now barring employees from warehouses during off hours. I guess Christian Smalls. The guy celebrated for the successful Union campaign Staten Island. He was that's how he got it. Done. He went into facilities off hours. So Amazon demanding that practice. Do not leave. Your water bottle behind people. You cannot get back in to get it. This one's for you Emma. So United Pilots got a 14.5% pay raise and then American offered, its pilot 17%. So the United Pilots are like, hmm, what else about this? Yeah, I want 17% see how easy it is. It's this is like you exactly, you get together. You just like I don't think so dude. Some sad stuff. Tesla. Now being sued by 15 black employees alleging racial harassment. This is just not a fun story to to read some of the stuff that's in this is overlooking black employees for promotion alone. The use of Rachel Slaughter's including the n-word racist, graffiti and bathrooms, including swastikas KKK. Here's a weird story. One plaintiff said that he was tackled by another employee while on the job and after reporting it, he was told suck it up and be a man. This happens here all the time. Yeah. Get attacked. Could your black? Yes. Yeah, tackle, while being black. I remind you that there's a there's already another lawsuit against Tesla from California. Civil rights lip regulator. There was a, there's a couple of lawsuits for similar stuff. One was wrapped up somewhat recently. Soon for racial harassment, he won 137 million dollars. Another one of the black gay woman all so that I'm just saying this is, this is not unusual Damien, why are they not on the ESG index at S&P? It's a real scam. I don't know. Speaking of blowhard billionaires named Musk. Musk forced to Halt Tesla. Assembly line struggling Berlin plant for two weeks, over production problems. Okay, it happens I guess to Tesla with your tackling black people. How do you have time to produce things? Yeah, remember that story about Jeff Bezos. Mega yacht. They wanted to do, you want to take down a historic brick? The they're not going to do that anymore. You know why? The company is not going to ask him a dismantle historic Bridge. Here's the reason why they were worried that locals would vandalize the ship as a pass by. I like that. All four ship. Jeff Bezos in the White House, they were fighting over inflation. The White House, Press Secretary and up saying. But I guess it's not surprising that. You think oil and gas companies using Market power to record profits at the expense of American people is the way our economy is supposed to work. So anyway, Bezos is now fighting with the White House. It's a weird one. Google says it will delete location, history data of users visiting abortion clinics, that's that's big news. Unfortunately, we have to really Googs. Yeah. Unfortunately, we have to rely on our corporate overlords for things like that. And finally for you Matt, I know I'm over time, but I had to get this one in here, a huge mass of wet wipes. Has formed in the Thames in London. Changing the course of the river. The calling. It wet wipe Island. It's the size of two tennis courts. Wow, all the best stuff happens in America, okay, just telling you. Just the place where vacation yet. Is there an Airbnb on Wetland? Remember, this is falling up on a story. We covered a while ago. Matt where remember, there was something called a fatberg I forgot about masses of solid waste made of Grease and fat that can block sewers, 90% of which are wet white people. I forgot how much I liked that stopping by the ways, get over it. Yeah, Google. Instead of having to delete problem. No, but Google, instead of having to delete location data of your users, because now it's illegal to get abortions in half this country, maybe you could just not fund, say Kevin. Brady, Republican Texas. Who wants abortion would be done before that, Steven Chabot report Republican, Ohio, like just stop it, just stop with that part. All right nerd alert, nerd alert, let's put a timer up its Tuesday's post holiday edition of nerd alert where I read nerd stuff. That's smarter than anything we can say and translated into stupid for you. Here's some context for this week's nerdy ready? Yeah. Ernestine young to pay 100 million dollar penalty for employees cheating on CPA. Ethics exams and misleading investigations we covered. What was widely covered? Ey, Auditors were cheating on their ethics exams and yes you heard that, right? They cheated on ethics. Portion of their examine when you say. Yeah let's talk about ethics at ey. The closest thing I could find on Eis website and their code of ethics was quote we acknowledge that each of us is responsible for keeping our Professional Knowledge up to date and for sharing best practices and Innovation. So I actually think in their quarterbacks Sharing answers might actually be sharing best practices, right? So ewe, is just following their own code of ethics. It's not so much a problem, but it turns out Most ethics codes and values which I know as you read them feel like fluffy bulshit and it seems very familiar. It seems like you've read the same ethics codes and if you're wondering, if you have a paper from 2009 by Martin Foster doesn't nine. Yeah 2009 that are still offering and Bill McDonald. All of Notre. Dame the paper called commonality and codes of Ethics. Well, answer that question. They compared a database of Ethics statements from the S&P 500 in analyzed. Every one of them. I love for textual, overlaps similarities in sentences. Whether companies basically boilerplate their ethics. And this is in the context here for for this is the SEC has said, quote ethics codes due and should vary from company to company. Well, should the SEC reproduction statements? Because the whole thing is, They do not here is what ethics looks like. According to the paper more than half of the S&P, 500 had ethics language that correlated 75% of the time so more than ever. So that's Hasting at these codes. Is what you're saying. They're basically copying and pasting from each other. There are 75% correlation between the language or some bits of language. I believe Google, so damn easy to copy and paste. For the S&P 500 companies, the average match sentences as in copies of sentences they copy 37 sentences on average really 37 sentences. The average it's 212 sentences for the average ethics coach. So we're talking about a significant portion is right up laziness at your job. In fact, nearly one in 10, S&P, 500 companies, had an Ethics, had some layer of Ethics code commonality that was like, almost one for one and the largest s&p's 500 companies, half of them. Just copied each other shit. Somewhere. In the code, here was my favorite part of this paper. The sentences of choice, the biggest dealer most copies duplicates. Okay. 12% of companies on the S P 500 used A variation or the or a copy of quote, theft carelessness and waste have a direct impact on the company's profitability careless. They use some variation of that. Yeah. Anyways. What does that mean carelessness? I'm just saying this. Look like this is what you're Chick-fil-A order over your neighbor's lap. That's how you lose profitability. Yeah. 5% had a very nation of this sentence. Any suspected incident of fraud or theft, should be immediately reported for investigation. I think that should be more than 5% low. I think we have more than that. Should be a full 100%. Yeah, but my favorite was 4% of S&P, 500 companies wrote some variation or exactly, quote stealing proprietary information, possessing trade secret information. That was obtained without owner's, consent or inducing such disclosures by Pastor president. Employees of other companies is prohibited. Yes, they say stealing from other companies is prohibited. Except of course, when stealing the boiler plane ethics language for your code of, that's an interesting question. If you're, I know, you're also a lawyer by trade. If you, if you steal someone who's steal already stolen it is it really stealing. It's a double steal like each other out. I think that's, that's the legal. Yeah. It's the legalize. All the Brett, Kavanaugh and Samuel. Alito would probably disagree. The biggest Steelers. Duke Energy. Stole from or gave to Spectra energy oh there was a 98% correlation between the two of them literally 2% of the words were different companies are not like Oh by the same entity. These are two different companies, they are competitors, they are actually direct competitors, okay? Like this Qualcomm and TSR 98% correlation Here's one that actually blew me away. Pyramid Brewery. And Eden bioscience 97% correlated. We know who stole from who I'm guessing it was the drunk so we don't breweries, we're doing the stealing. We don't know who stole from who, but someone there was like, Hey, eaten bioscience has one of these. We just use theirs. We're a brewery. I actually Drew alcohol. I think they're smarter because to steal from another Energy company, you gonna figure that one out, but the steel from Eden bioscience who's never. I love it. I'm sure they just have the same Law Firm, but I love it anyway. Um, fun examples of duplicates in my last paper. Shout out here. Duplicate sentences that these are sentences that appear word for word. These are exact duplicates sentences one was there are no shortcut for formulas or automatic answers to the choice. Is we have to make him business today. Yeah, I'm dead serious that for this very Sentence. And then in case you were wondering, there was a sentence that said the companies committed to promoting the values of honesty, integrity and fairness and the conduct of its business. And yada yada yada. And from the Ernst & Young code of conduct of their ethics, we nurture Integrity, respect, teaming and inclusiveness. We are committed to communicating open. And honestly, in fact, Google auto-completed, the last sentence for me that I'm not joking as I really honestly. They Auto completed openly and honestly that's how common it was. So yeah, that's the paper. Well, I mean, good for Google, really because they, they're aware that people are cutting and pasting these and stealing these. So why not, they can just help you right there in Google. You don't even have to go out and copy. Oh, better than that. Google is harvesting all of the code of ethics and they basically probably, if I just wrote code of ethics hit, enter it would probably just pre-populate your every holiday my appointment. Google's making it too, easy to steal. It's Google's full, oh, it's, you know, it's time for plausible tonight for over a brand new segment on the show. How many seconds we had over two years probably like, 800, I couldn't 80 300 failed segments, but this one is, is this one's gonna be success? This is Emma's trendy. Dumpster dive. Is that the name you're coming right now? That is what that is called. She didn't feel proud of it. What? What's trending, Emma? All right, here's what is trending. I have three trending things. Number one is Instagram Insurance. You heard that, you know what that is correct? You don't know what that is, because it shouldn't be a real thing. And israeli-based startup, is offering Insurance on your Instagram account, to protect from hackers. So, the idea is that if you are a content creator and you have like make money off of your social media presence and you cannot get into your account. We don't qualify. Yeah. No. We do not qualify for sure. Not. They will compensate you the way you would. If like something happened to your house and you have home insurance, for example. So, Like that you need insurance, when Instagram is supposed to be moderated, you know, supposed to be already protected, you would think, but not the company's name is not, they disagree. And they say that like other insurance. You're not supposed to be affiliated with the thing that you're insuring. So they are not affiliated with Instagram or in any way it would seem. So for example, a sample insurance policy that an article from TechCrunch saw was 38 dollars a month in payment and it will pay you out 244 dollars for every day that the Creator cannot access their account. Every day, 44 dollars a day. 24 hours. That's wow. I mean you do that long enough, you get a string backpack in a coffee cup with that. There is a limit on it. You can only do get payment for up to 90 days. This is also this specific policy by the way he days. Yeah, so 90 days up to 22,000 dollars that that's like the abortion payments for employees. Yeah. So this won't wash sound effect they they only launched this month. So there's not much else to say about it just yet but my take is that the world is falling apart. And I know that because Instagram insurance is a thing and if that's not a sign of the Apocalypse, I really, really, really don't know what it is. There's a lot of what else? What else? Um, something else from Fourth of July weekend, Nathan's, Hot Dogs. So this weekend. Joey Chestnut won his 15th, Nathan's Hot Dog. Eating Contest with 63 hot, dogs, and shocking. And so this led me down a rabbit hole of looking people rabbit dogs. Yeah, the company and shockingly Nathan's, Hot Dogs is a public company. I almost didn't even look because I assumed it would not be a public company, but 100% is. And when you go and look at their governance, they do not have a single woman on their board, not a single one. Yeah, I see this. I see this almost every show women. Don't eat hot dogs. Which is ironic because I literally had a hot dog for dinner last night, but no, to talk about that big news. No, fake news, and you only eat Taco Bell wealth. This is true. I don't know the report. Nathan, the American, the very famously American in July, 4th, Know women like, why do you need women to run your cause is there anything more American than true leaving women out? Oh, if you think that, that's not American or if that's really American, wait until you hear. The next thing which is that Nathan's, Hot Dogs do not produce their own hot dogs. They Outsource it to Smithfield foods which is wow. Also not making the hot dogs themselves because they are owned by wh Group, which is a Chinese food. Maybe that's right. This is the great. This honestly, I didn't know any of that and this has been the greatest dumpster dive I've ever heard. Yeah, they really handed it to me on a silver platter. Can you top that story? Cannot top that story, but maybe the take on my next story will be intriguing to you. So what else? Finally the number third Trend. I dumpster dived for today was CERN, which is the European Center for nuclear research is going to be running. Their Large Hadron Collider AKA, they think that discovered the God particle for the third time and it will be running for four more years. So, the reason that this is trending is not because people are actually interested in science, it is because they think that certain might be opening up a portal to another dimension, which is cool. Yeah, I think so too. Yep. So for example, we have Patrick Moynihan, tweeting people worry that CERN is going to Open up a portal to the demon Dimension, or whatever, as if we deserve anything, that cool. He's right, there's no shot but there are people who are legitimately worried about this, which is why it's kind of making the rounds on Twitter. But my take on this actually has to do with climate change. So I saw a tweet that said, CERN is flipping back on tomorrow using as much power per day as nearly 4 million homes would CERN, will use more power per day than a 1,000 windmills will produce in a year. If we had a climate emergency, CERN wouldn't turn on at all, unless it's to create the emergency. Oh, so, get over yourself. This, this is really something. However, all of that information is from a tweet, a random ass, unverified Tweeting, or Twitter account that I cannot verify in any way, but it is a good point that it probably uses a lot of energy and it is being funded by countries who were all major contributors to climate change and the Machine that they are using cost, almost five billion dollars to build and somehow no one can get the money together to fight. This is why you never gonna work for meta platforms because CERN is opening a portal to the metaverse. And you're not going to be a part of it, like don't you understand? Like this is the final stage and go there either. This is what's really happening. This is funded by Mark, Zuckerberg must be. This is the lug, we're gonna discover the metaverse. If we had to prioritize though, turning on television and 4 million homes are turning on cern's large holiday. Yes, hey, John collider. Yeah. Shut your TVs off and quit one. Okay. But I'm saying is that so basically every European country is a member state of CERN and they all contribute funding based on their countries. GDP. But like the United States, I'm lurking anti signs. Yeah. I'm anti-waste what are we doing with this money? When it, when all of a sudden we are in the money turning on, these are going to be impacted most by climate change that we created? What about turning on the power to your stupid sports stadiums? You can watch people dribble a ball or throw it a good point. Exactly. Correct. It's all these are I think they're just phoning up my point honestly. No, I think like we're talking about the Higgs particle. Higgs boson. This is like, this is like important stuff. This allows us Us to get to another dimension. Remember, that's what Patrick Moynihan. Who was I assume it? Patrick Moynihan is the same. Patrick Moynihan, who was like, the Democratic senator from, like, 2000. You know like is it that guy? No, son. Absolutely not. Absolutely, not. Who the hell is that guy? He has before we wrap up? I stand. I learned that today. Elon Musk has a son named Damien? What the, how come no one told me this? Is it the same spelling I am? Matt mascardi. We are free float, media. This is business pants. If you like this, you don't. We'll talk to you again some other time. Goodbye.