Transcript
Live. From your scalding hot cider bath. This is woke data when they spectacular here at the woke data. Apple. Barn Matt's back. Yay! Here I am our board saber metrics. Correspondents are BS, correspondent, mattress guardi. I'm decorative molasses. in today's, Your Twitter is about to get even more anti-semitic. Flavored bag of Jamie Diamond, centered nuggets called, October 12th 2022. CEO pay packages and anti-walk Nuggets. Matt, we have a another segment for our new sponsor skauge. But before we get to that, One, you walk us down the all the headlines you missed while you're out all the anti woke. What lines, whatever you want to do. I know you've been shot. I was in the new Bastion of anti-walk. I, we were right. Family took a trip to Italy. We were in Rome and and now that's like a return to Fascism. So, like, like most American tourists, you pretend that all these European countries, you visit are idyllic. A non-right wing. And their version of current modern fascism modern Fashions is is a little bit wucher. Than less like our version are, are the lowest common denominator is a little woker than our lowest common, because they have the EU and the European commission contently staring at them. That's the only one. Yeah, it's yeah. There's an adult in the room so exactly, exactly. Um, there are no adults here and to prove it I'm gonna catch you up on anti woke nuggets is our recap of the efforts of the anti-woke to D woke up by What do we do? Woke up at capitalists. We do not know, just human beings. Just anyone people with who've been born. I don't know anymore. I don't know, nobody knows. all right, let's just do this in our Quote, poor people historical minorities are having money and services, diverted from them for these globalist leftist ideas, that's a real quote, headline of the week, really? Okay. That's a real quote, from a real person. Yeah, you us. Republicans pull one billion dollars from BlackRock over ESG, investing concerns. So, that's a quote from South Carolina's treasurer. No attorney, general, maybe like something, and he guessing it's a, he it's a he, yeah, it's a white. He must mean poor white people, because I'm there's a lot of poor people who vote, who don't know, Republicans, not, they're not most of them. A lot of them aren't White. I don't know how he said. Poor people historical minorities. I guess what is the state? They're not minority because most of the living minorities. Don't vote for Republican causes. I don't really know who he's referring to, but he did go on to talk about how he pulled money from BlackRock. And he gave it to Federated Hermes accompanied with this on their last responsible investing report. They issue responsible investing import quote when a company suffers from poor ESG characteristics. The most effective way to generate winning outcomes for the company. Investors and broader Society is to create a purposeful dialogue about the ESG challenges and to find a more sustainable path forward to gave his money to congratulations. He didn't do any actual research that would take an extra. Click, what would have been one? Click too many, you know, our bold anti-wolf on Baldwin crime headline of the week. What? Yep. Black rocks stock is no longer a buy analyst says, ESG is a growing risk barons. The analysts that said it is Brennan Hawken. Hmm. A bald Analyst at a UBS? Okay. Like um and Brennan Hawken, I looked through all of Brendan Hawkins current recommendations. Look at you, the average ESG score of Brendan Hawkins by recommendations is a 7.3 out of 10. That's how I'm a CI but that's the average relatively pretty high score. Yeah. Oh, the average ESG score of his sell recommendations. Is a 4.4 out of 10. So he literally said a thing and then the opposite thing because it's the opposite thing. Congratulations Brandon. Good job. What if we call it? Sustainable Dino juice Department. Okay, try this. What if we call it? Larry likes money, not monkeys. That's kind of got nature and a capitalist theme, right? All right. Maybe not that. How about maybe just engaged in wealth sustaining or Jews? For sure. I think we nailed it. Nailed it headline of the week? BlackRock responds to ESG criticism with division, Rebrand, and Leadership shake-up. Just gonna let that one linger. I don't, I don't want to spend too much time in this depressing category. But you notice that that all the anti-wolf stuff, the which is Black, Rock socks, and then letting like, anti-semitic people like Kanye West on Twitter, it's all it all kind of trickles into a bathtub full of just jew-hating stuff. Is that what anti woke me? That's why does it always have to go there? I don't understand what is the obsession with Larry Fink? No one even has even heard of him in America. Why is everyone like Star about Larry Fink? There is not really enough. There are a lot of headlines right now, it was overcoming back to the anti headlines, so many of them good and not one of them mentions. The fact that there is eild anti-Semitism about all of them the build anymore. I think it's still feels a little veiled. Okay, until maybe we get to, you know, like the later stuff, you know, Twitter. Yeah, he'll get to musk's Twitter which I'm not covering today. There's so much to cover. Thank you in our okay. What if we sponsor a tour headline by Beyonce and Kendrick Lamar? Travis Scott if he's free from McDonald's sponsorship and maybe Willie Nelson, if he's alive and we call it the black rocks. The youth concert Know. Okay, so all right, if we're naming the division Jews for short, I suggest in order to get the word out, that Jews isn't an evil anti-energy group. We buy 3000 t-shirt, cannons and Fire free. T-shirts that say Jews. Love blacks, meaning, of course, black oil and coal and stuff. That works right headline of the week. Yeah, BlackRock responds to energy boycott claims with the new website. Whoo, By the way, you're you're genius is really fluttering today, I love what you're doing. Yeah, Jews. Do love black so in they do both minor. Come on. Look at me and all the senses. And finally, for anti woke up, join us. I don't want to be a finaly what is the finally, but there's a lot to this one and goes fun. So, you know, in our awake, not woke, but a bit drowsy. And I've had three Red Bulls. So, I'm a bit dizzy and excited but also could use a nap to keep me awake, but if I fall asleep, I won't get woken up. I'll get awakened up. Obviously, Headline of the week. How a new anti-wolf bank? Stumbled. Hmm. This. Is a tour. De force of anti-woke, woke confusion and I'm gonna read you. Just a few quotes from the article out of the Wall Street Journal. They include Quote, the attacks on what I do in my home after 5 p.m. our beneath the Wall Street Journal. This is a CEO responding to his. Accusations of having a drinking problem and saying, you shouldn't be talking about me after 5 p.m. if it feels like privacy data security, right? That's, that's the issue right? Privacy privacy, kind of weird executive privilege. It's the ESG issue of privacy of feels like so what if you if you murdered someone just like subway, it's fine. But if you do it in the boardroom, it's a problem. If you murder them at 5:14 p.m. if you do it, like 450 committing a crime When You're 15 years old to get to White from the books. That's what he's looking for. Here's another quote, and I think the ESG issue associated with it, quote, put your money, where your values are, that's just values investing, isn't it? That's what they sell. Sure values investing. This is how quickly traded this is not a publicly traded this. They're not publicly traded the company's called glorify Gloria fee. Okay, what's the name of the CEO? You have that name there? The CEO is like tuber I don't know. I don't remember something ridiculous. Like I've yeah, I think I've heard of him. Here's another quote from from the company. This is an employee talking about the CEO quote. He's got this Vision, it's almost like drinking really good Kool-Aid. But it's still Kool-Aid. It's just really. This is good Kool-Aid. I want you just good. I wonder if this guy's ever actually had Kool-Aid because it all tastes the same. It's just different colors. No, this is good Kool-Aid. Good cause really feels like access to nutrition. It feels like we're going ESG issued that. Yes, she issue here. Here's another one, several people working at the Mansion, the Mansion being the CEOs Mansion where they worked. Told me to make sure I leave around 6, Ms, Amos wrote in the memo when I inquired, why they stated that? After 5 p.m. Toby starts drinking and things that the house deteriorate quickly. Yeah, I could have guessed that because I I remembered that after 5 p.m. the dude gets wasted. But I mean like it's like a vampire. We're talking about fire at this point, right? Like you have to leave at sundown. well no, this is exciting because msci actually, I think I think msci has a new data point that that measures the timing of when CEOs get drunk and I think if you drink between five pm, And midnight. I think it's a, the point deduction is, is diminished its yes, they've, they had the right multipliers in there, but if you start drinking it noon, it's more. It's great. It's great. Yeah, it's really look, it's fantastic data is data. So what were you? I also like kudos to them for work life balance like go home by six because that's that's just safer. Like by the way, for mental health, can I add something here people? This is not actually not what ESG is. It doesn't actually measure CEO drinking at night while you're watching the clarification. here's the last quote, I have, and then a couple of fun notes, there's a quote from the an employee quote, he called me, a habitual liar, and I offered to leave He threatened to ruin my life if I left and he would use the government to do so. Isn't this like an anti-government people and it's like no big governments. What is this? I'm gonna use the government to punish my employees. Here's some fun notes. Just As a cat palate, cleanser okay. Okay, glorifies website has eight stock photos on the homepage. 50% of those stock photos, have women leaders, or a person of color in it. Wait, so this is not their leadership team. These are just photos representing the glorified life. This is their, they chose the stock photos of like, the chocolate worker. It was great and they chose half of them. Are arguably woke. Um, they also said that here's the quote about using their, their credit cards, quote express your love of country and respect, for those who make it great with your glorify, MasterCard, what? Yeah, you can respect your country with him with a, with a credit card now, And one of those credit cards that you can use to receive your country is the 1776 credit card. What that has interest rates between 16.99% and 26.99%, I think it should be a flat rate of 17.76%. Don't you isn't that the thing they all 1776 credit Nelson. I know it's not that woke terrible and and let me remind that the CEO of glorifies that this article came out in the Wall Street Journal decidedly. Not woke newspaper. You manage to get through the the Rupert Murdoch machine. That's how that works. That's all I got. I don't want to talk anymore, like a lot is a lot happening. Surprisingly enjoyed that. I usually really hate everything. You say, I was on the edge of my seat there. Well, that's I haven't been here in a little while. I think you're just excited to have somebody to talk to you except yourself completely true. All right. Let's bring the mood down, shall we? Oh, thank God. Yeah, it was way up. Because we now we have our our new. We let me read some coffee here. We have our new weekly segment sponsored by ESG data solution. Can I say before we jump into skh? Yeah. Before Damien said, ski he said sponsored by did you realize what that means? We are We're real. Now I feel like we made the big time. Yeah. And I don't want any of you listeners to think that we are an ex. This is an exclusive sponsorship. We are ready. Glorify on bringing listening yes where you can and even even if you're an entity that we make fun of, we will take your sponsorships. We will, we will happily take your money, black rocks, glorify get with us, Diet Coke, Bring It On Okay, we have another installment from Paul Hodgson. Let me just remind people. I'm not going to do this every week, but I'm just a little excited that we have a sponsor. So the first few weeks I I'll tell people who Paul is. Paul is a senior advisor at ESG. She's been there since 2019. He is a CEO pay, executive competition expert, Matt. Wow. Yes, he works here to do anything, senior editor, for ISS corporate Solutions and a freelance writer for sure, wholly representative Series in the Interfaith Center for corporate responsibility. So last week when you were gone, Yeah, I cheated a little bit. I saw something happen. I asked Paul to turn his, you know, it's supposed to be a one minute sponsorship. Really? A one minute. S gauge data update, but yeah, he turned it into, like, 80 minutes because I didn't really want to make. I didn't want to create my own content, Without You Wanna Be funny? You're bored. Yeah, last week, he looked at the top five, CEO pay packages this week. He's gonna finish this series. Looking at CEO pay with the six to 10th highest pay amounts and it's a special treat for a listeners at home. We're gonna, we're gonna talk it up. We're gonna. Yeah, we're gonna let Paul. We're gonna let Paul have his moment and talk about these pay packages but we also did a little bit of our own research and maybe we'll pause it every once in a while and at her own information. Here we go, love it. Let's I'm gonna, let's, let's have Paul talk for himself and then you can just shut them down. Ready? Here we go. Hello, and welcome to the second edition of statistics of the week, brought to you by ESG. Last week, we looked at the top five highest paid CEOs in 2021. And this week, we're going to look at the the next five down. Quite modest this week, none of you 300 million dollars. In annual compensation. It starts with Tim Cook. The CEO of Apple, with around 100 million of total compensation, most of that comes from an 82 million dollar restricted stock unit. That's just time-based, it'll just over time. No special performances needed for that. And in fact, cook hasn't had a stock award since 2012. When he received his last one, which at the time was worth 378 million dollars, and that was when he was promoted to CEO. Now Chum change Apple stock is risen quite a lot since then from around 15 dollars to a higher, almost 110 dollars last year. And the final installment of that 378 million dollar stock award paid out at 750 million dollars, that was one tenth of the award. The paid out at that amount so you can imagine how much money has been made of the 10 years since the original award. So the next one down. Hold on. Yeah. Hold on a second. Hold on a second. Yeah, I'm gonna add a few details and then if you want to say something, go ahead. I take something before you go into detail. Go ahead. Go coaches. He has an amazing voice. I could listen to all day. It's it's fake though. It's a fake British accent. He was from he's from England, but it's still fake. It's fake, guys. How that works? Yeah. I love him. I love it. I can listen. It's like silky and smooth. And makes me actually care about governance. Go on, I snuck up on him once and he's and listen to him. He sounded like a cattle rancher from Oklahoma. He was like, hey, what the fuck? All right, let me just give you a little bit of business pants background here. The pay committee Apple. Matt, they're basically just straight cheating. This is how this is, what I think, they're just straight cheating, Al Gore, Andrew Young, Young, and art Levinson. They average about 15 to 20 years of tenure this cheating. That's just been there a long time. Yeah, it's cheap. It's a cabal. It's a pay committee ball. It's cheating on pay. 35% said no, just a little bit. Tidbit. 35% said, no, that's a lot for Apple people. Usually love Apple so model after the musk. Hey right. Isn't it, isn't this the new model to like, like now, grossly enriching CEOs with like salary because it used to be, you give him a bunch of cash and, or like a bonus and stock was in there. But for the most part, they'd get like massive dumps of like 20 million now. We're looking at companies like that. 700 million dollar payout years? That's the musk model you missed last week, we were talking about CEO pay ratio is the highest ever this year. 399 to one, Elon musk's pay package was so big. I think it was like three billion or something that they that people determining the pay ratio decided it was an extreme outlier. It didn't even include that in the pay ratio. Yeah. Yeah. You can't include that. But what do you mean? You can't include that. How dare you can't? Because he like argument. It's all money to say if there's a 1000 people and nine hundred and ninety nine of them made between X and Y and the other way. Yeah, just tired, I get the theory, I don't care. It's not just want to reflect real life. You know why? You know why you talk to Ari about this? I did you know why it counts? Because the reason that you just mentioned is that other companies are gonna start copying it. That's true. That's why it counts but it's not true. Now it's true later. So can we like To be to be fair to Apple. Apple feels like an actual company. What is Tesla? Feel? Like, I don't even know what Tesla is. It seems like Is it a real company? Well, I don't even know anymore, you sell cars, but most 90% of them have been recalled. They're always missing their sales tour. I don't know what's going on over there. I get why Apple's share. Price is good, isn't trying to buy Spotify and start a neuralink company. I don't get like, he's got one job. I love the fact that the reason why Jack Dorsey got ousted was he had too many jobs and they giving the job to a guy who has way too many fucking jobs. Well anyway he's giving it to himself. He's buying the company. That's true. He is giving me to himself. What else have to say? Hit play. Jamie dimon at JP Morgan who earned 84 million dollars last year was paid 84 million dollars. You'd be forgiven for thinking that he only got paid 34.5 million dollars because that's all it says in the summary compensation table. But as you read on and on and on and on you realize that the bank also gave him a 52.6 million dollar retention. Bonus just to get him to stick around for a while. Wait a minute. We talked about that on this show, right? Remember, he didn't want to reject the retention bonus because he was afraid. He would offend his own board. You remember that? Yeah, that's a Jamie had to say about that. Yeah, let me that's, yeah, let me while you're hitting pause. Let me fill you in some details. Sam pay at JPMorgan Was Defeated this year, Matt. 169% said, no 69% of shareholders. A JP Morgan said no to pretty then change the pay. Know, of course, that's not binding, right? Okay. Good pay committee at JP Morgan. They're kind of cheating. First of all, there's a there's a retired executive, JP Morgan on the pay committee at JP Morgan. That itself is a cheat and secondly, the chair Stephen Burke. He's been on the board. The same 18 years as Jamie dimon, clearly buds cheating. I don't use for you though. Yeah, on our pay committee. It's just me, Just so, you know, I just don't right, but we're a company of point two and I don't Republic, we traded yet, we're not publicly traded, this is true, there is no vote and and we donate any money. So it's a winning, a winning, all the way we got a sponsor. We do have a sponsor. Okay, come on. Keep going now. As it happens, the shareholders, a majority of them voted against are no, I'm giving away next year's story. Well, it's out now anyway, but anyway, the shareholders voted against it. Now, of course, it's just an advisory boat. So the board can ignore it, which I'm sure they have done there. They go. But it just shows you that occasionally shareholders when they want to say something. Do actually say it. So, that's good. Next one down is Estee Lauder. Fabrizio Freda, he earned 66 million dollars. Last year, most of that was a 50 million dollar stock package. Now, actually Estee Lauder just published another proxy statement, and the total compensation for Fred has dropped his dropped to a mere 25 million dollars for the latest fiscal year. The data for this particular statistic was collected before that proxy statement came out and actually looking at it, the one of the things, the notes that they put at the bottom of the table, the new table is that Freighters, 50 million stock package is now only worth 30 million dollars. No, because the stock price has dropped from over 300 dollars per share to just over 200 dollars. A share I guess that's performance related pay. Next one down again, hold on. Here we go. Yeah, first of all, is this a real company, man? It's a family. That's a family firm 88% of the vote. Any? Yeah. And it the, the Sandpaper 8% were against the same people. But that's like basically 100% of people not the family. Now this is another one that's cheating. Everyone. On the pay committee is over a decade of tenure and and on, but on average, they are sit on over four boards. Each that, there this is proof that they don't care, that we know, it doesn't matter. Then we stop with the Kabuki theater of committees on, like, fake public companies. Like, what is the point of the pay committee? Like they don't, they like no one can approve or not approve, it like the CEO could pay themselves whatever they want. And it's not just type in their director pay though, extra little bit extra cash. Well, good. I am glad we're paying some other people, something more to that. This is stupid. What else is he got? Makes me just you're right. This was the downer. This is making me feel unhappy unhappier than the East is always down her. And I know it's, I don't know why everyone hates it. It's just down her. Here we go is Penn National 66 billion dollar total for Jay Snowden, 53, million dollars of that is a stalk award again. This time, it's Pretty heavily performance related and for full payment of that, the stock price appreciation would have to be eight times what it is today, of course, if that happens. The 53 million dollar stock award will also be worth eight times. What it is today, yikes, which comes out at 424 million dollars. And finally, number five, wait here we go. Once again, shareholders at Penn National gaming said no. 58% said, no, they don't like this nonsense. Did they change it? Now, that's the thing, right? This is its we, I'm really honestly sick of reporting on this because it's maddening. I yeah, to think a majority of shareholders said, no, to something, and it doesn't matter what It's a lot like elections in the United States. Oh God. The majority of people voted one way and then some other idiot gets in. It's the way that works, right? All right, Paul round us out. Well, number 10, actually. Number five. This week is Hawk Town. The CEO of broadcom again, another 60 million dollars again, another 50 million dollar stock award, and that one's based on relative TSR So now that I've let the cat out of bag, cut out of the bag, for JP Morgan and what the shareholders thought of their pay next week will be looking at what shareholders thought of all of the other packages that were put forward. Now I can tell you one thing Expedia since it's a controlled company. The shareholders IE the chairman will have voted to support that pay package. Oh shock whether the public shareholders did or not, is another matter entirely but I'll leave that until next week. So this is s gauge signing off on statistics of the week and we'll see you next week. Thanks a lot. Bye-bye, look. I know ask gauges are new sponsor. For Paul. But don't you think Paul's getting a little too comfortable? He's already planning out his next segment. Come on. What You would be the ultimate troll. Since these are non-binding, Sam pay votes is that when you control the vote, you should vote against your own pay package, and then decide that you're not going to do anything. You're not gonna listen. Okay. Elon. I know you're a listener of this show. Oh yeah, exactly. The move, isn't it? It is the movie. It's 100% the move. Kabuki theater movie? Yeah, I mean it's an advisory vote. You didn't even have to listen to yourself. The greatest thing I've ever heard of that is all we got for woke Wednesday. It's Damon rawlas. I'm Matt mcarthy. We are free float. Go get bored sabermetrics because that is where all of this s gauge data that you're hearing about are sponsor. That's where it goes. It goes into our massive model where we are creating performance metrics around directors. We're telling you who's the most influential we using Sports analytics on them. We're doing real stuff here that we are. We actually sell Not this two of us. Clowns sitting here. Just Taylor if you become our second sponsor, we'll pretend to like you too, and kiss your ass. It'll be awesome. I thought you said no, we just know I'm not Gonna edit this out. Don't from the live stream. That's all we got. We'll be back tomorrow until then goodbye.