Transcript
Live from a pre-recorded Damien free audio file. It's our first woe Wednesday edition of business pants in 2023. Whoo. Wait, there's nobody, there's nobody here. Nobody's cheering. Nobody cares. Joined again today by no one because everyone apparently has something better to do. Except for me, I'm the one true. Matt mascardi Lord of port sabermetrics in today's catch up bag. Call, January 4th 2020, 3. Catch up. Catch up. And awards covered in ketchup. Let me say something up top. But thanks to our sponsor Escape your ESG Data Solutions provider and Let you know that we'll be back doing regular shows next week when Damian returns including a 2023 prediction gasm show. and next Thursday, you know who we have booked here on business pants, Vivek, ramaswamy. That's right. The captain of the anti-woke and the author of woke Inc. Is joining business pants to talk about things. So look forward to that because that's a thing and it's happening. It's 2023. We do things different now. so, let's start off by, what are we miss and around a ketchup with Damian, still gone, apparently France, and the Azores don't have internet, so I had to do to catch up for us, but here the headlines To catch you up, ready? Let me get some ketchup music. Comcast. Had a huge holiday season data breach. That was fun. 10 cents. CEO Pony ma told his employees that their quote lazy and busy quote chilling on the weekends playing ball. That's right. 10 cents. CEOs are lazy because they're not working every weekend at all hours, but not to be outdone Home. Depot's founder said quote, nobody works anymore because of quote socialism and quote woke people who have taken over the world. The woke people don't want to work, they just don't want to work. That's nobody wants to work anymore. So, socialism is a problem. No one wants to work, but it won't be a problem for McDonald's who launched in the last two, three weeks, their first automated location. That's right. You can be served. Terrible. You can be served diabetes. By robots now. I that that is the Pinnacle of human achievement, I think. But in more disappointing news and I want you to sit down for this because chances are you standing Charlie Munger Might not get his windowless dorm. They conducted a five-month review of the project and they concluded that it had quote, a prison like design to, which Munger said, the report itself was quote all horseshit. That's right. That actually all happened. There's still pending some potential changes to the dorm that may or may not include windows and you know, Fire escapes things that people like in their dorms. But not that anyone could have gotten, even if they had the dorm, they couldn't have gotten to the dorm this holiday season because the big story over the holiday season in the United States was Southwest Airlines, massive meltdown. Apparently, Southwest Airlines doesn't know how to fly airplanes or really get people onto the airplane because that was the real trick. They did manage to fly over 100 airplanes to get to the places that they needed to pick people up, they just didn't manage to get the people onto the airplane and then bring them to where they needed to go. They also didn't manage to get their bags onto the airplanes or anything else onto the airplane's. So their systems had a huge meltdown. There was winter weather throughout the US and South West has. Now, the CEO said there wasn't a way to apologize enough and after saying that he said he couldn't apologize enough. Again, he's giving out Air Miles because the first thing anybody wants to do once they've spent the entire holiday season in an airport with no bags, not with their families. And no way to get anywhere is to get on another cell Southwest plane to go somewhere. That's exactly what they want to do. One group though from Southwest has figured out how to not apologize and that was the board. The board has issued zero statements about the giant snap Foods at Southwest Airlines, but don't worry. We've got you covered here at free float. We're going to play a little quiz and this is nobody to play with me. You're gonna play it, which is I want you to think right now. Which one of these people would you like to apologize to you more, if you're in Southwest investor, this is there was a 9% stock drop in Southwest, as a result of this. This is gonna last for a while, especially since I can't name a person who thinks they should fly south west anymore and if you're not a sales, West investor, you were traveling on the airline or you just got canceled and didn't even get to go to the airport and wait for hours. Which one of these people would you be most angry at, and would like, in apology from? So, here we go. Here's your short list. Should it be? The most influential board member with 17% of board influence Gary Kelly, who's the executive chair and a former CEO of Southwest itself. Apparently, when he was CEO, he didn't spend any money to upgrade their systems so that they could fly people from point. A to point B, that was not a high priority either when he was a CEO or as executive chair of company. Or maybe you'd like to vote for Bill Cunningham. The second most influential person on the board 14% of the overall influence and power of the board. He's been on the board for a stellar 22 year, 10 year, he chairs the nominating committee and sits on the audit committee and he failed to spend both money and higher board members. Who could I don't know upgrade the system. So their airplanes could fly like everyone else's Maybe. Got your angst though. Undug Brooks. Another old white male ranks his weak. on TSR return on assets and carbon proving once and for all that, not only can you get a board seat, not being good at stuff but you can suck at Financial returns and Spew carbon. At the same time. That seems like a win-win way to go duggee. Or finally. What about Thomas Gilligan and or David Hess who each individually have connections to 11 other board members out of the 13 persons Southwest board. They are highly interconnected with all the other board members thus securing them jobs that they clearly may not be may not be qualified to do. I should add, should we be upset that 70% of the board? Are current or X CEOs or that the average age of the board. And this is a board responsible for advancing. The technology of say, booking your customers is 71 years old. It's a full, almost decade, more than the average of a US board, or should be upset that the entire board has returned below, the 20th percentile in stock return last five years, we can describe that to them. We and that's all the boards they've ever sat on. That's their five year track record. They only ever go below the 25th, percentile for returns, so congratulations to that board. You feel free to write us on social or someplace else and let us know which board member would you like to personally apologize to you because this is their chance, we can just send them the email and say you should give the apology. And speaking of angry things that everyone still hates. Also everyone Still thinks he is, she sucks. Here's a short list of headlines, for just the last two weeks Republicans see Little Resistance from the business Lobby on ESG. Viking virtues can help defeat woke enemies of America. That was a Fox news report. Talking about how the way the Vikings used to be, could be implemented to stop ESG and woke corporations. Vikings. That's I thought we wanted to go back like to like the 50s you know like the the whatever the Golden Age you know does isn't like old people want to go back to the day and the day was like the 50s when you know there was still massive discrimination and you know most people have rights but white dudes like we're happy there was a middle class so but no we want to go back to Viking times. Here's another headline inside. The great anti-esg backlash, which is really description of how is G deserves a backlash and then Louisiana, conservatives consider band on liberal business, agendas because in Louisiana, they're expanding the bands on anything that tastes liberal. Now that were caught up, mostly that's happened in just the last two weeks while we were gone. It's time to go over some awards for award season. Including the following Awards, the worst of the woke Awards. Versus the most diverse companies Awards of 20 going into 2023. And then there's the 15 most hated companies in America. And the most sustainable companies for 2023 a group called new tolerance, campaign announced. Its worst of the woke 2022 Awards which finally because Lord knows we've been waiting for this. The criteria was quote, institutions pushing phony, tolerance, under the banners of diversity equity and inclusion, and environmental, social and governance initiatives that was the criteria. Now, there wasn't any data for that criteria. It was just phony tolerance. I suppose was I don't know how they, I don't know how they Quantified that but the winners is a short list of people you'd absolutely expect to be the winners here and included Disney. Obviously, Black Rock. Apple Twitter for pre Elon censorship. Now, Elon is the model of anti-woke and American Express. I don't know how American Express. Worked its way in there, there are a lot of companies that could have chosen but American Express did something to piss off the anti-walk. Of those. New tolerance, should know that, it turns out some of those companies. Actually have kind of a lot of Tolerance. Um, maybe they should know about, because, newsweek's most diverse companies, where they use market research from plant a insights who. I've never heard of, they did not list either, Disney apple, or Twitter as diverse. So maybe Disney apple and Twitter have more tolerance for white people than they thought of Making the list. However were your classic lazy woke. Socialist companies including Home Depot themselves where no one wants to work because they're all lazy Oaks socialists and Koch Industries, Lockheed Martin Bank of America and of course, Southwest Airlines In Yahoo's less data-driven 15 most hated companies. They? Read some other articles about hated companies and then put them together they didn't know in this list that some of the companies have been hated a long time and that was their way of explaining how egg accompany who was hated 15 years ago for his role, in the financial crisis is still on their list. Put the top five, most hated companies were Dish Network, Bank of America meta, Chrysler and United Airlines. Of those. It's worth noting that Bank of America somehow managed to make the top 200 most sustainable companies. The most hated companies and the most diverse companies simultaneously good for them. The most sustainable company in the final list of companies, which had 200 companies on it was HP. Although Clorox made the top five because if you bleach everything it's more sustainable, that's that's like, actually, a rule in our house. This all proves once again that almost all your lists are stupid and worthless. If you're going to buy a list just buy ours, it's better. We actually have data driven lists. We have the most powerful board member using real live data. We have a female power index which highlights companies, where female influence is greater than their body count. We have all the things and let's end on something fun. I'll fun fun with headlines at CNBC. This is the original headline that I pulled it was. I think that the article went out December 27th. And then one hour later CNBC changed the headline, but I pulled it before they changed it. So here's the original headline. The year of ESG was worse in politics than stock market performance. That was the original headline at a CNBC. here's the current headline, the Market's most political stock picks had a bad year, but they'll be back in 2023, CNBC Those headlines mean, the opposite. They mean, the opposite thing. ESG actually did fine Market wise his roughly flat for inflows. Where the rest of the market was down for inflows of funds. It was down a little bit more than the market but not by much, it was sort of a nothing Burger year. Despite the fact that everybody hates he is she now The original headline says that politics for ESG were worse than performance. The new headline, says, political stock picks, which ESG is in. Had a bad year but will be back in 2023. That's all we got. That'll catch us up. That'll get us into work Wednesday. Next week. We have a lot coming over the next couple weeks. We got a lot of catching up to do. We have our prediction, guys? I'm like I said, Vivek ramaswamy joining us from strive Asset Management. The author of woke Inc, is gonna talk with us business Pants next week until tomorrow when I do a very short game probably by myself because Damien's not back until Monday, goodbye.