Transcript
Live from October. It's a splendor. Is business. Joined us always by nobody. I'm all alone. Deal with it. Matt is off and La, La Land re is often data. Landmarking is really lurking. Jesse, I don't know where Jesse is where Jesse are you there? No, she's not here there. And today is muddled blood orange pit. Called October 3rd, 2022, sexy story updates, it's all we have because it's all because I'm the only one. I'm the only thing we don't have our nerd alert, we don't have anything. It's just me. Damien Raul's, the chief representative of a business pants and free float, let's get to it. I have a bunch of people updates because that's what we do. Best here at business pants. We talk about the people. We put the people back into ESG, we'll put the people into the G. The G is the people corporate governance, governance. That's who runs your company's. We gotta talk about these things more, the people. So I got a bunch of stories updating people. Let's start in no particular order. Let's start with Sheryl Sandberg. The news out of meta. Is that former CEO really? She was the CEO but Ducks ego is too big to call her that Cheryl Sternberg will no longer serve as an employee of Mudd us as of last Friday September 30th. But she will continue to serve as a direct her and we'll continue to be paid as a direct good for you Cheryl. I remind the audience at the average pay, the average director pay at meta last year, was 800,000 dollars. So thank God that Cheryl will continue to be paid over their meta platforms for directors service all. So it was also announced unusually that Meadow will continue to protect Cheryl. That's right, said this in the press release filed with the SEC, that Meadow will continue to pay a huge amount of money to protect Sheryl Sandberg. Here's the deal. Meta actually protects a lot of people, a lot of its Executives and some of its directors, believe it or not, probably because everybody hates meta, but let's get to the details. Here's some of the directors that are that need security Peggy. Alfred she gets a 1.5 million dollars a year for her security. Tracy Travis also gets 430,000 dollars. Those are the only, the only two listed for getting security. For some reason Nancy collector, she doesn't get any security. I was thinking, maybe only the women that meta were getting security perks, because, you know, we live in a terrible misogynistic culture. But no, she's not, she doesn't get anything and she worked at the IRS so I don't know why she doesn't need to protecting anyway. They also protect a lot of Executives over at meta because everybody hates meta Executives. Most noteworthy of course suck King suck. And, you know, when I talk about Meadow, I'm really just saying Mark Zuckerberg because this is entirely his organization. He controls the voting power, he controls the shares, he controls, he's the, he's the CEO, he's the head of the board, he's everything. 27 million dollars last year, 27 million dollars to protect Mark, Zuckerberg, and his family, and all of his residences. All of his Jets, everything 27 million dollars and Sheryl sandberg's not that far behind proving that she's probably was the CEO Sheryl Sandberg 11 million dollars. Okay, so, why am I pointing this out? Because I thought this a little irony was, was fun, fun for me. So they spent a lot of money protecting their own right over there at meta platform. So for their Facebook, WhatsApp, Instagram, but listen to this shareholder proposal to companies 2022, annual meeting. Okay. Bunch of shareholders proposed this, they were requested the board at a reasonable expense. It says that right there in The Proposal, a reasonable expense, and not the tens of millions of dollars already spent to protect someone's home in, you know, Iowa or Hawaii or wherever someone seventh home, excuse me, shareholders, requesting the board at a reasonable expense. They want a report. And what the board to prepare a report analyzing why the enforcement of community standards has proven ineffective at controlling the dissemination of user content that contains or promote hate speech. Disinformation or content that incites violence? And or harm. To Public Health or personal safety. Okay, the proposal goes on to say that meta. The Meta brand has continued to be wracked by management missteps and lack of board oversight. They're looking at you suck. Resulting, continued harm by its platform, including millions of users Exempted from its rules, which continued to incite violence and harassment. Internal company research demonstrating the that Instagram is toxic for teen girls mental. Health crises among Outsource moderators due to viewing child, pronography and animal cruelty lack of Corporation with authorities, to prevent, and detect child, exploitation and abuse hate speech, that continues to thrive on the platforms and die, immigrant immigrant violence, around the world. All these things, these shareholders just want a report. Okay? And I'm going to remind you that that the company already pays tens of millions of dollars to protect some of their directors and Executives, some of their many homes. Here's meta's response to that shareholder proposal. Here's their their very precise response. The board of directors recommends. A vote again. The shareholder proposal. Against so that sucks. Way of saying no will protect our own but we don't care about you. I also want to mention that there are other proposals this year, one on child sexual exploitation online, one on the human rights impact assessment and I'll add this that all of these proposals actually did very well about 20% of shareholders voted. Yes. unfortunately there's they had no chance of passing because Zuck controls the voting power, but if you if you eliminate Zuck from that these past, Shareholders are other than suck believe in this believe, in protecting people at Facebook and meta other than Sheryl Sandberg and Mark Zuckerberg Etc. All right. Oh, one other tidbit here, the board agreed to protect Sheryl Sandberg until at least June 30th 2023. Okay, I don't know what that means. It's bizarre to me, it sounds like on July 4th next year, she won't be protected but we'll keep you updated. A moving on. See, if I have some Moving on Music here for you. That's good enough. Yeah, I get the I get the point. You don't have to keep doing that speaking of Facebook. And again we're focusing the show entirely on people because that's what we do best here for free flow. We talk about people, we have a new product coming out called board, saber metrics, such as some of the designs from our designer. It's looking good board. Saper metrics, we focus on the people. We put the people back at G, okay? So speaking of Facebook, first of all, this next story huzzah, congratulations, I'm actually being serious. No, no sarcasm. Congratulations to the Walt Disney board for becoming officially ready for this. The, the Disney board is now officially half women. That's right. 50% of the Disney board is women. And I know this sounds like pretty bland. And who cares? This is unusual. This is highly unusual and I find this amazing and I and I love Disney for this. I don't even like Disney I kind of hate Disney. I hate the parks. I don't care about any of the Disney plus content. I'm not a comic book person, so I'm not a Disney fan, boy, I don't actually like Disney, but I like this, and Let me highlight this board for you. Not only is the board half women but includes the board, chair, Susan Arnold, who are the company stubbornly still refers to, as a chairman, chairman Susan Arnold. They got to get rid of that. She's not a chairman, you can go, our chairwoman, you can call our chair, you can call our board chairperson, I don't like this chairman crap. It's, it's embarrassing. Okay, let me get back to the point. The Disney board is half women and includes the chair. She was an Arnold and all all the chairs of all four standing board committees. Yes, this is incredible, the leadership on the board. Other than the Bob, Chapman was the CEO, all of the board leadership, there Disney's women incredible. I can congratulate you Walt Disney. I think this is actually, this is amazing. And the audience clearly agrees as they should. Why do I, why am I talking about Walt Disney? Oh yeah, they added a new member to its board as part of a standstill agreement with activist investor. Dan Loeb, we talked about that a lot. The new director is Carolyn Everson. All I really know about her is that she was vice president of the global business group at Facebook. And yes, that scares me a little bit as it may be. It should scare everybody. But again, I'm gonna highlight the positive here, the board at Disney is now half women. Let me, let me talk a little bit about Carolyn Everson, because I want to point something out that always irritates me. And I think I've said this before that after every insipid sports event, that Trot out, 800 reporters to talk about. You know, why did you dribble the ball that way? Why were you chewing gum? Why did this sweat fall off your face in an easterly Direction? Why are your glasses, yellow? Oh, just just a myriad of insipidus of following every sports event and yet. when they appoint a new director to, to a giant International, Company like Disney one of the most important companies in the world. Here's what we get. This is what they tell us. Okay. Here's what Carolyn Everson. The new director said, here's the quote. This is from the press release. This is from the file and see filing. I am incredibly excited and honored to join the Walt Disney company's board and work alongside the outstanding directors, an extraordinarily talented management team. Yeah, that's what she said. That, absolutely meaningless. There's nothing. That's like she might as well. Have have chirped like a hummingbird. I do hummingbirds chirp. What do hummingbirds do I do they they make they must make some little Twitter or a little chirp or something. Here's what the chair. Susan Arnold after mentioned Susan Arnold. Here's what she had to say. We are thrilled to welcome Carolyn Everson to the Disney board. Carolyn's extensive background including roles at a number of high-profile complex. Global companies brings a welcome and invaluable perspective as we continue to focus on expanding our brand and Global reach. Wait, what Susan? What I mean. What you're saying, nothing. You're just saying that she has experienced at other big companies. That's nothing. This is sad. I hate this. I want to know more but we don't get more. So that's why we're here business pants. We focus on the people. That's what we do here. We do that because we're awesome, because we're putting the G back into ESG. And we're putting the people back into the G. And you'll have a product that proves all this nonsense called board saber metrics. And finally, in my last, people focused story for today. October 3rd 2022. Don't you? Like how I'm getting to the point quickly here without the blow hard Maps? Guardian. Here's my final story and I'm calling this, the biggest CEO fail the week. I know technically that King. Charles the Third is not a CEO, but let's be honest. He's, you know, he is a CEO, he's the CEO of the United Kingdom, that's what he is. Here's the headline. King, Charles the Third will not attend un climate change Summit. King, Charles III will not attend. Un climate change Summit, Buckingham Palace, confirmed Sunday that King. Charles III will not appear at an international, climate change, Summit, taking place in Egypt next month. I think that's what is a cop 27. Despite the monarchs long-standing involvement in environmental advocacy Here's why under the rules that govern Britain's constitutional monarchy. The king is barred from interfering in politics. You know what, I don't know, a whole lot. I really don't know a whole lot about anything despite having multiple Advanced degrees. But I know the church has changed some things, they've entered the modern world in some ways. I know Charles was even divorced and I thought that the Church of England and in England, they looked down on these. They look down on divorce but now they're letting him be king but they're not letting him attend a un climate change Summit and this is been his whole life environmental advocacy. This is the only thing. He's actually contributed to any of us other than just being born into a rich family. And I asked you again King Charles with her because I know you're listening. I know you're listening to business pants, featuring The Great Damian Ross. I know you're listening. Since when is the climate change? Since when is it politics? If it's based on science, it's science. It's not politics. Okay? So get over it and start attending things that are important. All right, that's the show for today. Oh, before we wrap up before I play the, the, the closing music, Let me tease tomorrow's show the Elon Musk texts. Okay? Because again, we're talking about people, we talk about people here business pants and these Elon Musk techs concerning his potential. Twitter takeover are amazing for us because they, they actually highlight the influence among these CEOs, that the conversations, the the Bro, Hood whatever you want to call it. And again, this is what we cover here at board saber metrics. We measure influence. Here's some of the headlines that were tracking and that we're going to talk about tomorrow. Is a bunch of them. Elon musk's. Yes, Man, chorus could be his undoing. Parag is trying to, please people text between Elon Musk Twitter, CEO, and Jack. Dorsey are talk about Jack Georges. He rips Twitter's terrible board in text to Elon Musk. Here are the people who texted Elon Musk, who offer advice or money, the deal. What else? How Morgan Stanley CEO buttered up Elon Musk. While Larry Ellison, brushed him off. Musk's Frenemy Vibe with Twitter, CEO revealed and core. What else we got? Jack Dorsey, tried to get Elon Musk on Twitter's board, but directors were too risk averse. Etc, etc. Why is this stuff excite me? Because I I just told you because they have a new director over there at Disney and we get nothing. But finally, some texts are showing us that there is something it's not just nothing. They're actually things going on, they say things they have opinions. They talk about boards. Being too risk-averse. They talk about all kinds of stuff. This is what we're gonna cover tomorrow. I'm gonna try to go over all those names with you. I'm Damien Rallis. Chief. Cream. World master here at free flow. This is business pants. Please tell your friends, please, hire, 4,000 bahts, download our show at to make it look like more people listening because they just because, why not? What else did you don't? Quit. Don't watch Netflix tonight. I want you to get 4,000 bahts. And figure out ways to ramp up the downloads on our show because this is what we do here at business pants. We help each other out. Thank you for listening. I will talk to you all You.