Business Pants – 2023-04-19

Live. Oh, he's like a hive of a bees. From parts of the United States various parts. We are. oh, it's the ESG Industries only. Weakly woke data podcast. Featuring reading old copy again? No. That's what I always say on Wednesday. Featuring BS man. Matt Mascari Whoo, that's bored. First time. We're back together in two weeks. Is the true? Well I think I think I'm coming down the office tomorrow. Do you think the our listeners are celebrating know? And today's edgy sucker gas called. April. 19th 2023 in ESG, business news Roundup, featuring an angry CEO. A word from our sponsor. Oh, I like that deep inside the minds of anti-esg ESG companies. There was a lot. It was I hate. I'm I actually You know, like when they they do studies and they find that people who spent a lot of time on social media like start hating themselves and hating everything else. I think I'm having the same thing with strive Asset Management. Let me ask you this. All day is ESG hating ESG company strive Asset Management. Are they like the Jews for Jesus of the ESG world? Thank you because really think about what they're doing. Think about it. They obviously secretly love being big fat, ESG people, because that's what they do. They're just doing ESG all day. Well, I did find lots. They I there's a couple of Trends but there's lots of darts on a dark. I'll tell you what is woke. Yeah that I can't argue with. Yeah, argue with nonsense. Our show today. Are you with whatever words you're saying? Our show today is being sponsored by ESG or ESG Data Solutions. Provider, that's correct. They are they are, and I tried to get a sponsor from Monday's show. No one's called me yet. Well, no one's called. Did you give me your phone number? Know I gave him no way to contact me so that might explain some of it. Paul hodgin will be stopping by the studios later to do. What's he doing? Top 10 shareholder resolutions? Yeah, he's gonna talk for a bit. We're going to get coffee. Right per Matt's request. Actually, I was gonna do something else this morning. I was gonna do a Roundup of recent meetings and meeting boats, and share the resolution. Thank God, you didn't do that. Matt told me to do to look into some recent news. We might have missed and I got into our Rabbit Hole. So Here we go. See I noticed when you were gone or I was gone and never played that music one. No whoopee cushion. No whoop or that music or that music not into it, they're just trolls to me. The first story is a multi-category story. I put it in CEOs rule, I put it in apology tour, woke data, stakeholders rule. I saw this yesterday, I thought it was kind of a nothing Burger because there's no way matte it would apply to one of the companies in our database, no way. It's a publicly traded company, this is probably just a company of a staff of five and I was like ah I'm sick of these stories. Okay, I don't I didn't see the story. Here's the headline know what you're talking about. CEO goes viral telling employees to stop asking how to stay motivated without bonuses, right? But it turns out this is Miller Noel CEO. Andy Owen Andrea. The company formerly known as Herman Miller. So this is a big deal publicly traded company in our database. Yeah. Oh well, but it doesn't every company say like, like don't ask how to be motivated without your bonuses. Like I don't know what they do, Matt and I don't really care, but they don't usually give us tape to play. We don't usually get Have the CEO but rating for workers. So I I downloaded that table. What do you roll that tape now so we at least know what we're talking about. This is a telling Andy Owens CEO. Andy on telling employees to stop asking how to stay motivated without bonuses. Here we go. Great question Chris. You know a lot of questions came through about how can we stay motivated if we're not going to get a bonus? What can we do? What can we do? Some of them were nice and some of them were not so nice. I'm gonna address this head-on the most important thing we can do. Right now is focus on the things that we can control. None of us could have predicted covid. None of us could have predicted supply chain. None of us could have predicted bank failures but what we can do is stay in front of our customers, provide, the best customer service, we can get our order out our door, treat each other, well, be kind be respectful focus on the future because it will be bright. It's not good to be in a situation we're in today, but we're not going to be here forever. It is going to get better. So lead. By example treat people, well, talk to them, be kind and get after it. Don't ask about what are we going to do? If you don't get a bonus, get the damn 26 million dollars, spend your time and your effort thinking about between 26 million dollars. We need and not thinking about what are you going to do? If we don't get a bonus all right. Can I get some commitment for that? I had an old boss who said to me, one time, you can visit pity City but you can't live there. So people leave pity CD. Let's get it done. Thank you. Have a great day. Wow, we're not gonna ever get. We could end the show right now. Get on the whole company. We're not gonna ever get better tape than that from a publicly traded CEO. She talked for one whole minute about being nice and kind of another, and then basically said, shut up, get the money and leave. Pity City. Unfortunately, without audio does not show is her, she's pointing at the camera at the zoo camera. She's very angry as you can hear that she's angry. Like, um, I'm I'll say this. That if your CEO was doing that in a way that tape can be captured and or put out into the world, that is probably a company not in a good situation probably that failing. By the way, we did pandemic. Let's start there. Yeah, thank failures. Did we predict everything? So I did kind of a random Deep dive, but I'm gonna present that no particular order but I think that's exactly where I started. She mentioned all those risks. I went to the 2019 10K, the annual statement of the company, they mention all the rests Of stakeholder risks including, you know, increases in the market prices of manufacturing materials, disruptions in the supply chain, blah blah blah. They mentioned Health, they mentioned economic conditions sustained, downturn, the economy, they mention all of it. It's potentially stuff, Matt, that the board and management could have prepared for A read, the boiler plates, their lawyers, come up with, then they might know the risk of their own carpeting it, right? It's them saying and I don't really know why they're blaming covid because so their pre-covid share price is about 49. Dollars it to 18 dollars and then post covid's back up to 50, right? So covid had no effects. Now, it's back down to about 15 dollars all. So it's really, she's blaming external factors. I don't think any of those factors are actually to blame. I think she's just asking everyone to shut up. Go to work. They have to shareholders unfortunately, electors are not elected annually, so they don't they don't get to weigh in on their CEO and annually. I'm just putting it out there. Oh before I get on to Nitty Gritty of CEO, Andy Owen, can I just point out that I found in our data Matt and our board statements data. There is a Mike Smith. Power gap on the board. Really 20% of the board is named Mike Smith. That's two directors named Mike Smith and you would expect their influence to be 20%, right? Yeah. But they're, but they're influence is actually only 12%. So there's a 8% power Gap, a Mike Smith powered, well, Mike, Mike and Mike. You need to complain to somebody. So let's talk about CEO and do and and her and bonuses like because you know who did get a bonus last year. And yeah. In fact, she got that going up every year since covid, this year, it 1.3 million. So she's okay, the good news here is. I did a lot of digging into her playpen, playpen, the good news is that since only 2.5% of her total long-term Equity award or roughly about 90,000, is tied to employee engagement, she won't stand to lose as much money at all. Yeah, he's haters. Now, she can point it all, doesn't matter to leave, get out of petty City. The other good thing about that 90,000 figure is that actually represents that alone represents CEO. Pay ratio of two to one, but the real one at this company is 111 to 1. Oh wow that's actually not you. Let's be honest as pay ratios go the average for the SB 500 is like 250. So tell that to this group of employees today. Tell us the CEO pay ratio is 111 to one that she earned on day three. What they earn the whole year? Well, it's not exactly. Like most of that's got to be stocked tied up. Okay, long time, right? Not my fault. Last year she got 200,000 dollars of corporate jet perks. She also got a three a four thousand dollar perk for a comprehensive physical exam, but it says nothing about a comprehensive mental exam. Oh that's so maybe so maybe this is the company is fall. Maybe this is the boards fall. If she had had a proper Therapy. Maybe she wouldn't be scolding her employees on tape. You see I have a hard time with this, my guess is that Andy goes home and she has, she's like her husband probably hasn't looked at the kids in three weeks. Looks like she was already. Yeah. She still got like do all the cooking and stuff right home because that's the majority of women it is Michigan. After all there was a pupil that just came out that showed that when women are the soul earners. That's the only time when men do more of the household labor than women do, and it's only by, like a half, an hour extra a week, like women still end up doing almost 50% of the labor in every other case. If the male earns a dollar, they do like one tenth of the household labor So I guess is also a reason what cited in a study when you were gone. Matt why women don't have as much time to play golf and thereby are losing out on network opportunities on the golf course. I'm serious. Yeah, that's a stroke in real time. Like you have a hard time, so overly excited by the story because I haven't even gotten to my favorite part yet. But continue. Oh, let's go there because I don't want to, we don't have to focus completely on Andy Owen because the rest of the journalism rest of the press, they're all focusing on CEO, Andy Owen and they, you know, I guess they should be you can you can hear her basically having a mental breakdown on the like, like like she's under so much pressure and do this. And like everyone keeps asking. I I have friends who've went from lowly analysts to heading departments and now they complain about the same things. Good for them, that what that are bosses complained about us, right? Like everyone's a complainer, they say, leave, pity City. So they say they have not She not a lot of pointing and leave 50 City but pretty close plus. Are you are you in pity City when you just asking about your bonus? Are you in pity City at that point? Um, I mean, if like, here's the thing, if your bonus, if you're, if you're the CEO is making 111 times more than you and that's with your bonus and they still get their bonus, you probably are in pity when you're asking. Here's what I want to focus on because no one else is gonna focus on this, or maybe they're in Anger County. I want to focus on this fabulous. Failure of a competency committee chair, David Brandon. Oh, I like what we do here, we put the who into what do we put? The who in to what? I don't know. I wish there was a good like, you know, quick we put the who is it? This is the pay committee at this company Miller. I already forgot the name of the company. That's because this is terrible name, Miller Miller Knoll. This guy's name is David Brandon. First of all, Matt, this was the CEO and chair of Toys. R Us when it declared bankruptcy Oh, so we're already starting off with failure, not a great. He was brought in to turn it around in three years later, it declared banquet declared bankruptcy. Yeah. And his name does sound eerily like, let's go Brandon. He also lasted less than four years as the University of Michigan athletic director. First of all, he was mentioned in litigation representing more than 100, alleged sexual abuse victims of late University, athletic Dr. Robert Anderson there was widespread criticism about this guy, about his decisions, made that. Okay. This is some of the criticism poor leadership. Portrait of player, safety. Many felt a decisions were for financial gain with disregard for the University supporters and alumni. There was a fire, Brandon chance at football game. There was a student Petition of at least 10,000 signature, trying to get this guy fired. There was actually a rally a fire. Dave, Brandon rally USA Today describe Brandon's 10 year as the University of Michigan athletic director, as peculiar and unsuccessful. Peculiars. Good guy was a former CEO of Domino's Pizza. He took over when Domino's sold itself to Bain Capital. When he left Domino's, the share price was about eight dollars, okay? Currently the share price is 325 dollars. Oh well. that's, That maybe that was all his hard work happening after the after he left. And finally, this anecdote from my new favorite competency. Compensation, committee, chair David Brandon over there at. I see I forgot again. Miller Miller Herman, Herman Miller Knoll, he gave the commencement address at Albion College in 2009 and he gave each graduate a present, he gave him each a gift. Like Oprah like Oprah tape to the bottom of each of their seats. Was a coupon. For a free pizza and a soda. Okay, that's it. That's that's I love this guy. How can I not love this guy? That's Miller Noel conversation, chair. David Brendan moving on. Let's get to be the greatest competition committee chair ever. Just a lot of weird failure. So I'm gonna say a lot of things happening. There's a lot of finger pointing let's do our, our news Roundup that you hear about the Fox News Dominion settlement. I did. Yeah, only it's not the end. It's really there's a lot. I hope this is a big Miss for us there. I know it's really sucks. What happened was that they reached a settlement worth 788 million dollars and Fox News and fox Corporation, both publicly traded companies. Neither one of them has to apologize for anything. That's the part I can. So we missed out what's everything point the point was Dominion. Got some cash. They were never trying to save democracy. They just wanted some cash. I mean literally our democracy, they're the machines for democracy and they're not trying to say it. They're just just wanted some cash. The good news is that there's another similar lawsuit coming and does a report at a Reuters today that fox and investors are seeking records and possible step towards suing directors and they might be looking for They're looking for board minute, emails and texts. There's gonna be good for us. This could be good, they're gonna need board saber metrics in order to tell them that the murdochs run that company. We have the board, the board. You don't need to bother with the rest of the board's time. I just want just the murder. I just want the emails, the text and the Boardman, I really want the board minutes. I would love a good board minute Disney and DeSantis. You want to hear the update on that. Do you care even? Oh well, I think I did read that conservatives. Now are really crapping on DeSantis for his Disney stance. Conservatives are calling him what we've been saying all along is that they're saying he's not a conservative. Yeah, they're saying this is still. There's only one wing of the conservative party at this point, which is like Trump started saying that, he's not a real conservative because he's telling business what to do. Meanwhile telling all other businesses what to do so somewhere else like so no one knows what's going on. The latest was a DeSantis threatened to build a prison on the land next to Resort. And then the next like that, the very next day, Disney, publicized. Its first official lgbtq event, do you at the company? So this is, this is what's happening down there. Ron, have you been to Disney? It's a little bit of a prison once you get in. You don't really need to build one. How about this new story? I'm calling. This is CEO. Irony alert. This is at a from Spotify ironing, iron, knee. Irony got it. He's not ironing Spotify. CEO and founder. Daniel Eck, who is Spotify? Yeah, just completely and utterly Spotify. He is actually complaining to Congress. He's trying to push them to take up an antitrust bill that aims to reign in the power of domain app companies. He says, here's a really raining in some power, it's quote, it's like leasing retail Spike space from one of the few landlords in town who can charge a huge rent, charge, change any term of the lease at any moment's notice, its own competing store, right? Next to yours and then prohibit you from sharing any promotional signs, or at blah blah, blah blah. He's complaining about. He's so effed up about Spotify in the first place that is complete and utter Monopoly. Run by one person completely controlling the music industry. Well look when you're a billionaire is not exactly like you have self-awareness. Okay. Good point. How about this one? This one's just seems so easy. Ben and Jerry's is all four its workers plans to unionize. They like it. It's that easy Matt just say. Okay, and move on and sell some more crap. No, I want to see Ben and or Jerry walking amongst the the workers with Holocaust blankets. Here's a seized that happen. Next. Here's a CEO dystopia, update some more quotes on Advanced AI. This is what's coming in our future, blah, blah, blah. First Elon Musk says AI has the potential non-trivial potential of civilization destruction. Okay, I as he starts in AI company. Exactly. That is the subtext here. He starts his own, a company. I didn't want to get into that. I want to spell a lot of time with Elon alphabet. We are talking about on Monday a little bit CEO, Sundar pichai. We don't have all the answers yet. The technology is moving fast, is it? Keep me up at night? Absolutely. Yeah and all. So from that same interview which we covered on covered all this was that AI is more. It has the potential to be more impactful than fire and electricity fire. Oh, finish this up quickly. Open AI CEO, Sam Altman a little bit afraid and deepmind CEO. Dennis hospice says that it might become self-aware one day, it's good. No, let's just why don't we just keep pouring money into it though. And finally, I'll wrap up on the proxy season. First of all, Norway Sovereign fund to vote against all male boards in Japan, What what? Yeah why now what and why only Japan, what is this? What day is? It it's 2020. Really get this. Don't get this new story. Not only that, but Norway, we looked at your board saber metrics. And one of the things that we found is you were one of the worst companies for the female power Gap. That is the gap between female representation and how much power they have on the boards. Norway Denmark, Sweden, you have the worst of it, you put women on the board and give them no responsibility. No power. You asked him to do nothing. You make sure that they can't have a real voice except to raise their hand, when they're white male. Overlords ask them to vote on something. So it's cute that you're voting against all male boards in Japan where they basically do what your lot of female on the board. With Bill power boards do in Norway. I think what Matt's trying to say that if women had any influence in Norway, they would have Recommended this vote against all male boards in Japan, 20 years ago and that's it might be true. And finally, before we hand off to Paul Amazon will face a record, 18 share holder resolution at its 2023 annual meeting. Wow, I love this eight. How many of them are from strive? What else? Why don't we take a deeper focus on those next week. Maybe you can have Doug cha back. We can talk about those eighteen eighteen. Yeah, that's the good news, Matt. Is that last year's record was 15 at Amazon and all 15 were voted down. My, my worried though, is that that's a 16 hour show that we've been about. Can we hired editor for that one day? I don't know, but let's, let's bring him Paul. Let's do it. All right, let's do it. Hello, and welcome to skh statistic of the week. I'm feeling particularly duplicated that I've just made myself a cup of tea. And I'm very happy with the world. This week, we're going to look at the top 10 shareholders filed during physical 2022. The 2022, proxy season and the resolution's filed thus far in 2023 was there a lot more filed in 2022 for the whole year than the on now. For 2023. There are only 89 shareholder proposals available for filing so far in 2023. Whereas there were 881. Available for filing in 2022. And I'm going to call. I'm going to talk about the numbers of proposals specifically for fiscal 2022, just because the percentages because there were so many proposals last year. The percentages make everything look kind of small, whereas, you know, okay, there are around 5% of shelter resolution on diversity and inclusion other, human capital issues, other reporting environmental issues, Public Health, Human Rights. But in fact, there was 20 between 25 and 28. Each of those resolutions, which is actually quite a sizeable number of resolutions. Now at the top end of that with 115 resolution's were proposals calling for shareholders to be allowed to call special meetings or to ease the requirement to call special meetings. Typically there's a threshold percentage of shareholders required to call a special meeting and companies like to restrict. Those were a shareholders like to have access to being able to call a special meeting even though it's usually kind of notional. Right. Very rarely a special meetings called but shareholders like to do it and they like to be able to do that. So there were 15 of those. That's the largest demand is still a governance related shareholder resolution next down, climate related environmental issues with 102, Next one down from there with 52 is separate CEO and chairman positions to the very popular one. Not a lot of support for it but there were a couple that went through last year with majority support. Then there were a number of racial equity and or civil rights audit requests, 43. Some of those got majority support as well and then political spending lobbying or contributions a total of just just under 70 resolutions for those two. And again some of those got majority support too. Now, this year, the picture is slightly changed began its very early in the proxy Seasons. So there there are a number of the same kinds of resolutions. There are still very small number of special meetings only four so far this year, in fact, unusually this didn't figure at all last year. A limit or vote on a severance agreement. So a say on Golden parachute, as they're known colloquially. There are 12 of those thus far this year. So, obviously shareholders getting a little hat up about that already again. There are some separate CEO, chairman position resolutions human rights, racial Equity, civil rights, audit environmental issues climate related, very similar numbers of these so far this year, between four and five and six of those more political spending lobbying contributions, Etc. So, the picture hasn't really changed this year except for that sale on Golden parachute. One, which is starting to gain some traction with shareholders and we'll see what kinds of support they get. It cost depends on the company's record on Golden parachutes, you know, separate Instagrams, termination Provisions, Etc. As to what they'll be. But anyway, we'll see what that looks like later on this year when we revisit this, yes, gauge statistic of the week. So it's Paul Hodgson saying goodbye and we'll see you again next week when we'll be looking at new types of Sheldon resolution's. Have a great win today. What does he get to say goodbye? I was gonna say goodbye to. He can't sign us off. That's our job. I don't like that. He just signed us off. Thank you Paul, what he got for us, Matt. All right, let's everybody wants a little bit of this in their lives. Oh, I So look. Since Vivek was on the show and we've had a bolted him pivot was actually on our show Vivint from Swami was on the show, we had to pull him into National politics. A nominated article where he was called the darling of the Republican Party a nominee for the US Presidency, was on our show, that seem like, oh seems like a deep fake. It's not, and he just announced. I'm on his email list. He just announced his new, he launched 25 policy commitments including Reviving American national identity. Okay? Do I even want to ask about that? Should be packing, my bags, unleashing, the American economy declare independence from communist. China. Did, you know? We were not independent from that is he really this foolish of a person he wants to dismantle managerial bureaucracy, which includes shutting down, toxic government agencies, including the Department of Education, always the IRS shut them down. Okay. No more. And and weaponization of the government and financial markets like by one of his policy positions is published the Jeffrey Epstein Client List. Oh, that's a policy position. This is kind of like telling us who killed JFK. Yeah, I guess so. So this man, can I say this is what this is. Why I there occasionally maybe once every six months I feel like what we do here is important because I do think there is a long game here and and people like Vivek make it pretty clear and people like Elon Musk is to take away all the power of the boogie man. That is the government and let the billionaires control, right? Let them run the show and run everything. I'm not trying to be this is not a conspiracy theory moment, so don't play the music and then the light But this is definitely part of the long game of making us all feel like government is bad, even though who is government other than just dope just mean while those same billionaires are saying we're terrified of ourselves because we're making a that's probably going to destroy the world and Elon Musk is so terrified of AI that he wants the government to have the option to shut it down one day. And yet he is constantly making fun of government and provoke. Well, okay, so fine, keep going, but it's great man. Vivica ramaswamy. He was on the show Vivek. Come back. We want to talk to you. I'm ready? Yeah, where we've been ready for this? Our whole, we didn't prepping our whole lives for moment. One of his bonify days is having started strive Asset Management. The anti-walk asset manager that no one asked for, and really, it's the first presidential shell company. It's the first company created just to give you The Bona Fide. So look like you're something right. He created to look like he was fighting back against fighting. The woke Corporation, right? So Finally got an update to their votes. Good good. Because we were tracking their votes and then they stopped giving us their votes and now they're giving us the votes. Again, we have them up to date. So let's find out how the anti-wolf are anti woking. Are you ready for this? Yeah, always. Yeah. I mean, this is I think they would appreciate this because now that they are basically an ESG company, they must realize that other ESG without their data are going to analyze the data that they put out there. That's what we do. So I used our data board saber metrics available. Now call us, I use our data to look at every vote for directors that they had. They've they we could tally 596 votes for director since October of S&P, 500 companies, and this is actually through yesterday. They launched some votes yesterday, here's your stats sheet, the top director attributes of the anti-woke company strive Asset Management. Okay, number one, thing, when we talk about Excellence, the number one thing that was that stood out Was there. They really don't want you to be good at Carbon. They do not want your company to reduce carbon. What does that mean? Like how does the voting prove that? So when we look at directors, we we estimate how much influence they have on every single board and we use that influence to attribute to them. So if you have 20% of the influence on a board, you get 20% of the performance, we can do that with every performance metric, you can think of. So I looked at earnings shareholder return. I look at debt. I looked at all sorts of things and the one thing that they voted against the most were directors, who are good at Carbon? Who are good at Carbon, okay? Yeah. Just good at everything else who is a mixed bag, but the only negative batting average. We do it in batting averages, so it looks like sports. The only thing where they're directors they vote for Had a lower batting average in the directors they vote in again, was carbon, I guess this makes sense though. No, because there there are a whole idea of Excellence is getting rid of women and black people in management and a refocus on oil. Well, so the funny part about that is we compare that to peers, meaning you could be an oil executive and still be really good at Carbon relative to your board peers. Okay? So they are hand selecting directors that have a track record of reducing carbon no matter what industry there. How are they doing that? You don't care. How do you know? I think mostly what they're doing, is they go to the website and they see, do you have a carbon Target and then if you do, they vote against the vote against. That's just easy that way. It's easy. Yeah, but that's not all. Here's some other stats. They really like manly men. Oh, well, that we can agree on 74% for if the directors male. Yeah, 59% for, if they're directors female. Okay, so your army getting well, again, they believe it, I'm a meritocracy, a merit basis system. And as we know from talking to Vivic, If you're a man, you're probably more qualified. That was the fuzzy logic there right on our show. He did use CRT to explain why. There were not enough women. CEOs are not many women CEOs, he would never use the word enough because he doesn't say that there should be more women. He just says, there aren't more because of CRT, right? And in this case, in their voting, having a penis is worth plus 11% for which I guess is sort of lines up with our female power Gap. Numbers know, it's actually, yeah, it's actually pretty close, it's pretty good. The other thing they like, is for you to be white or Asian. Right now, he's Asian, includes all of you, like India through Japan, right? Like a lot Asia's big. But white, or Asian 68% for white people. Okay. Yes. 74% for Asian directors. Sure. Here's what gets not so great. Okay, 52% for Hispanic, right directors. So slightly more than half, right? Still, that's a lot of colors, though. Yeah. 48% less than half for black people. Okay. This line This lines up with who I think they are look now we have before when we did this before, we had like 100 votes. Now we have 600 nearly 600 votes here. At least they are who they say they are. They're they're very much what they are that our initial thoughts are very much the same. The worst thing you could be on a board voting. Don't they're strive is voting, don't say it is a black woman. Oh Why don't they have to be so obvious? It's really obvious. There were 20 votes for 20 directors, where it was a black woman up for election strive voted for a staggeringly low. 25% of them. Look, I know someone at strive eventually is going to listen to this. Come on, come on our show and explain. Just this just have a reason of just this one. I want to know why? Just tell us the weirdest glitch. I found in the data is that for six directors, they've voted for them in one place and against them in a different company. Yeah. Okay. Can you explain? So, here's I actually I this is why my brain hurts today because I spent like all day on this. Yeah, like, Jeffrey Henderson, he they voted for him at Qualcomm and against him at becton Dickinson. What was that? Because it expecting there's language in the proxy. That is suggesting that they either believe in Dei or ESG is that? No, no, no. Well, I mean that both of them are but both of them, but he's the chair of both audit committees. Maybe they didn't like his auditing, it back in, and they really like that, it Qualcomm. Yeah, the confusing one, brother, he brought the good calculator to back. Wesley Bush. They voted for him at Cisco and against him at Dow. Okay, at Cisco. He chairs the ESG committee and they still voted for and they voted for him. And now he's on every other committee except for comp. And they voted against him. Now I'm lost, I am lost, officially, I thought they hated all things ESG, especially and Livermore. So I you would think like okay well maybe those are two different companies Qualcomm back then, Cisco dowel. You know maybe they just are looking at their expertise and saying like, well they're, you're qualified at Qualcomm but not affected, something like that and Livermore, On Hewlett-Packard Enterprise and Qualcomm. These are both tech companies. They both basically make chips and crap did chips and dips. Not only that she is on both ESG and governance committees they voted for her at Hewlett. They voted against her Qualcomm, You know what it is, maybe it was two different analysts. Maybe they weren't talking to each other, but it's got to be a little bit of an awkward environment where you're just voting against black women as a rule. So maybe it's an awkward place to work and nobody talks to each other. Well I want to give them the benefit of the doubt here. One thing I do like this drive is doing is they're not just voting 96% for directors, that that's true is there entertaining good and they vote against a lot of pay. They vote against a lot of pay. They vote against a lot of Directors for their own reasons that I can't understand, but they're doing it, right? Like most asset managers don't do it at all. Good for them for doing something they like against things. Yes, the future. So, what I did was, I looked at every company where they voted and I, Said okay, well if they voted for the person, this is somebody. They want running this company if they vote against some of the don't. So what is the ultimate strive company look like compared to the S&P 500? And what I found is they what they would want this is according to their own votes, right? They want boards that are 5% more male, so they're not male enough. They won't find them, they want boards that are even more male than the S&P 500 exists. Now, even more, they want, more men, that are 5% more, okay? And 21% whiter than that even possible. I didn't even know, isn't that basically an all white board that we're nearing? We're nearing out. All right. Um, and in case you, in case I'll do this is the outro. Alright, ready in case I'll even give myself the music. So you know, it's outro and okay, thank Matt, that's not excellent. Yeah. Well, they only vote for one, two thirds of the directors, with Advanced degree. So that means they a third of them have advanced degrees. They don't like, but those are probably women or more importantly black women, right? 64% went to a got four votes went to Elite schools. That means 36% that went to a lead. They went to Yale. They're probably like I don't think so. Well, that's perfect went to school, so 64% were CEOs. They wanted four directors was an average TSR batting average a 4975. Is your peers like you're doing as well as your peers. So basically Excellence looks like average, it seems like they need our data is what they really need. Yeah that's what I'm saying. That's it. I never want to watch. Do we have? Do we have to update this ever again? I think this drive needs to come on and talk to us. Yeah, just talk to us. That's all we got that Samuel Ross. I'm at Scotty, we are free float. It's all we got. There's more content than most of our peers produce in a year. I need to go home and take a nap until then goodbye.