Transcript
Live live live. Live live. From three miles Beyond nowhere or is it before nowhere? Ah, I don't know. Jason to know where it's yeah. Another manic Monday edition of business, pants featuring lord of the BS, Matt Mascari. Haha. I am I officially crowned, the Lord do you have to get knighted or something? For those of you don't know, that's could be either of bullshit or Lord of board sabermetrics. Our product Let's go with bulshit and today is more appropriate, feedback called April 24th, 2023 sexy story updates and what do you bringing today Matt, what's your? I just have a little bit of bored. Saber metric, C data. So that's don't understanding averages, don't understand it because we need to sell it to make money for That is correct. We do we could use your money please, you ready? Otherwise. We're all at a job. Come on, ready? Play me, Let's Play me a thing. Oh, you get me juicy, right? Yeah. Is that supposed to make us seem like we're using old school Financial metrics and not new school? Financial metrics? Is that way you do? That makes us seem like an old timey news show because what would, what would an ESG transition sound? Like that's probably like, oh, all right no particular order. Here we go here at the stories over the weekend. This morning and NBC Universal CEO. Jeff shell is stepping down. Following an inappropriate relationship with the colleague. He said, I had an inappropriate relationship with a woman in the company, which I deeply regret. I don't know. Do you even believe that I doubt? He deeply regrets it. Well, I'm truly sorry. I let my Comcast and NBC Universal colleagues down. To a relationship that he had with someone and some part. I think, I think more and more. We're finding the answer that is. Yes, but I don't think companies like it anymore. It does Jeff shell matter at all at this company. So the company that you're referring to is. Comcast, Comcast is run by CEO. Brian Roberts. Comcast is a family Empire. Oh, his dad. Brian's dad. Ralph Roberts, I believe started. Comcast Ralph. Yes. So here's what Brian had to say. We built this company. We says, we built this company. He's talking about his dad, right? His dad, daddy built the company. We built this company on a culture of Integrity. Really sounds like on a culture of nepotism. Nothing is more important than how we treat each other. But I think this is a bunch of this might be a bunch of bulshit, this comment. Nothing is more important than how we treat each other, because let me tell you this map, As I told you. Comcast is a family firm, right? Yeah. And he controls, he controls 72% of the influence, according to our data board symmetric, that's correct. That's the right number. Despite only representing 10% of the board as far as bodies go. Okay. So seven to seven X ratio. Yeah, but here's how we got there. And this is why I'm quibbling with the idea that we're all treating each other. Well, here is that he only owns about 1% of companies shares, okay. Okay. But this and but because of a dual class voting structure where Class B shares, where he owns all the class, B shares are entitled to 15 votes per share, right? And, and class a common Shares are entitled to Point zero. Six three, four, five. That's not even a laugh track. That's genuine laughter, I know that's real. That's both us left. I mean so what does he mean? How is he, how are they treating each other? I don't understand these treating each other, you're treating. Everyone else very poorly. Each, other just doesn't include shareholders artillery, minority shareholders. Okay, but that number point, Zero six. Three. That's not it. Yeah. Not even 160. What is it? Did you figure it out? It is one. So, for every 1 5. 7 5, There's some kind of inside family joke. I mean this, there's no way it works out that perfectly without them all knowing something like that. That's his favorite number, that was Ralph's like a dress when he was a boy where he started Comcast. Something like that, right? Yeah. Um, do you want my stat? Of course I have a Comcast for you only if its proprietary data that we created here at Port. Saint Patrick's Day free flow. Okay, are you ready for some proprietary board, saber metrics? Yes, The highest batting average on Comcast board goes to. Yeah. Naomi Bergman. This doesn't surprise me. So this is overall batting average. Overall, this is overall batting average. Okay, so when I say batting average, no one knows what that means. I kind of explained what? I don't know. Okay, so we are including in the overall batting average just for a to have a number four metrics. Okay? That is how they perform on earnings over their last five years on any board. They've sat on how they perform on TSR, right how they perform on carbon, let's say the earnings and TSR does sounds like traditional manly, excellent data points. That's correct that we're correct. So we're not just measuring like fairy dust over here. Are we know, there's no fairy. That's very last metric. The last metrics a little fairy does. Okay, which is controversial business activity, right? That would be poo pooed by certain. So people named so controversial, business activity is just looking at how many times your company ends up in the news for heinous. Shit. Versus your industry. Peers. That's it. Um, but those are the four metrics in that overall batting average, and do you want to know why? So, a 500 batting average is you are boring old middle of the road board member. So, unlike a bit. So this isn't about baseball batting average. So you're it's a little bit different right? And baseball a bit different. You hit 300. You're an All-Star. If you hit 250 you're probably average. But in our world where it should be, 500 is average, that should write. That's should be saying like 50, you're 50%, you're the middle of your better than 50%. All the other idiots. You are the you are better than 50% worse than 50%. You're the, you are the middle idiot. Middle. Yeah. And that's relative to your board member appears. She bats overall, A staggering 573 which in our universe is actually really good. It's actually good. It makes her a starter, she's a starter, she's not an All-Star. She's not a Hall of Famer, still. But but she's also not a benchwarmer or rotation player. She's a solid starter you more importantly, she's not below, average know you put her you know you like you start her 80% of the Season at third base and you're happy, right? So, the way that works. But here's the reason why she's interesting, because the reason why she's winning isn't actually the manly Excellence. Why does it manly? Why is Excellence manly? You said manly? Well, I'm borrowing from a former guests Vivek ramaswamy who when ah, okay, we asked how we felt about more women being CEOs, he said he didn't care. So maybe maybe I'm insinuating that Presidential nominee nominee VivoCity would say that I'm joking that I just I I just want to shower, I just want to make it clear the Excellence metrics. She was actually a team worst batting to 89 at Ibotta, earnings 289, the rest of the rest of the team at Comcast is a 507 average. Okay. So, she's like bad but she has a team best. In controversies at 896, the reason why she's the best on this board. Is she hasn't been on the board long and I was gonna guess have every single controversy that Comcast has been involved in and that would also be the case for earnings. Right? She missed out in some of the more robust Comcast earnings. I'm guessing she did. She's also on the board of a company called Visteon which is a Ford spin-off. They do like car electronics, they have a 4 billion dollar market cap, she's better. She that board is better than Comcast for a lot of things. Let's, let's just say that, but that's the highest batting average goes to Naomi Bergman. You're batting you're doing well, well, I'll say this about the Comcast board, they don't really care what women think. Because according to our data, they represent 30% of all board roles, but hold 6% of all influence. Including in Naomi's. A part of that, of course, that's a that's not great. Anything else from Comcast you want to move on? Let's move on. That's that would be my board. Saber metrics batting average of the day. You gonna play yourself out of that or just keep. Yeah. How about if I just do? I see that? I like, how about this? How about this? Clever headline. I just made up Bed Bath, and Beyond and bankruptcy. Oh, not only that Matt, you only have a couple days left to use your Bed Bath and Beyond coupons, because they just filed for bankruptcy and they put a limit on those coupons to tomorrow, which she seems just as arbitrary as the voting shares at Comcast. Why are they giving you until Tuesday? I don't really understand that that they gave you any days. Like they basically gonna sell everything everyone's gonna go in with like, 6,000, coupons, and buy everything for a dollar. I wanted to give you a mini history lesson here at Bed Bath & Beyond, we using our data, using board statements metrics data. Oh, I was gonna say, I was bored up until know. I'm always selling, I'm always softly selling here. Yeah, that's what I, that's how I think of you. Okay. So in May 2019, CEO, Stephen Tamara's was ousted by a group of activists investors called for his resignation in a brutal 168. Slide presentation. Okay. Oh, 16 Yeah, that was four years ago. At that time, the board did what the company did what most companies do when they're failing miserably as they find, they look for women, they find women. Oh, they In the cleanup crew, they brought in mom. Exactly. Brought in four directors, representing half the board four female directors. What? No, I'm serious when the company was collapsing. That represented half the board, but it represented, 78% of the influence. So they really want these women to turn around this company. The problem was, is that they couldn't fully lead into women at this point because they, they went with a male CEO, that was former Target Chief marketing officer Mark Tritton. Oh, so they, they brought in the women to clean it up. They gave him a lot of influence in the board, but they didn't quite let women figure this out. And then three years later, Mark, Tritton, stepped down, because he's really screwed it all up a few months after that, I don't know if you remember this, CFO, Gustavo Arnel, he fell to his death. He fell off a building and died and said, yeah, this last fall. And there you have it. That's the board super metrics history to hit. They'll history lesson being. Here is a if you're gonna go in on women to Fix your shit. Let them let them have all kinds of leadership. Do the what I'm doing it all company, let them do it all, and heirs another. Yeah, problem. Okay. If you gonna bring it up like a female clean, if you're going to bring Mommy to the Frat party, where you destroyed the house that you rented and you want Mommy to clean it up. I I actually think there's a problem, all of the women on this board will be blamed. Now, be tagged, yes, according to ESG metrics all over the world. As having sat on a board that went bankrupt. This is the famous glass. Cliff scenario know, this is, this is patently stupid, and unfair to say that those women are in even remotely responsible because they were brought in as a cleanup crew. And sometimes like, if you knock a wall down, there's no way they can fix it that fat they're not, you lose your deposit is my point. Yeah. And the proof is in our data because as we say, over and over and over, women actually have far less influence far less power than which should just by their presence on the board. In this case, they overloaded them with power and influence, you don't you never see this. So they basically handed them control with the exception of the one role that would actually control the company. Wow, you know which is the CEO. Sure. okay, if you put the guy who went to the Frat party and probably called Mom, yeah, in charge of the company to when it's time for cleanup, I mean, what did we expect? Did we expect a real cleanup or do we expect him to secretly call his friends back with a keg and say, don't wreck too much. We're trying to clean this place now. And then he magically leaves right before it fails, and it, and that's even with meme Stockton. I don't know this, I didn't even cover the, the Ryan Cohen angle, the meme Stocker meme stock, right? She wanted to put a light on some of our data there. Yeah, it's because you are an excellent salesman. So, Moving on, Mark Zuckerberg, this one's for us. This one's for me, Mark, Zucker grilled That's how I feel, whenever you say Mark Zuckerberg, we don't talk about Mark as much as we used to Elon really took over the mantle. Know that was like He did take over the man. Yeah, Mark, looks like a reasonable dude at this point. That when he's the adult in the room, we have to ask what room was trouble. Mark, Zuckerberg Grill by Angry employees. Who asked why Executives receive large bonuses during a year of layoffs and business terminal? I look, I just like the story because it falls completely into our wheelhouse. So Zuck who is on Parental, leave for the birth of his third child. He's been out for over a month. He hosted a call for employees who survived yet another round of layoffs. So, 11,000 fired in November 4000 more now in April, Here we go. Here's the person who maybe works for free flow asked, or they, at least listen to free flow or they're about to work for people when they get fired. This person says, what why asking why senior leadership receive bonuses last year at a level of exceeds expectations? While the company not only saw historic stock drop in an active layoffs and blah blah blah. Wow. That's it. Seems like a very pointed easy question. They looked at the proxy statement. That's what we do. Yeah, they read a thing. Yeah, Zuck explained that several in this Swiss, in the sea Suite, namely the new CFO received good rating because they stepped into new roles. They haven't held before or extended. So, wait a minute, wait a minute. Yeah. Someone gives you a different role and then you're good at your job. All you have to exactly change your title. He also argued that met us performance overall negatively impacted the executives, meaning the reduction to their bonus was already baked in. I mean, he's just trying to look at that. He just trying to confuse people, I think at this point. So apple pie, the future free flow employee said, employees, change roles all the time with expanded scope, and they don't automatically exceed expectations. We are supposed to be, oh, focused. How about this employee, right? How about this really? Really well done. So, according to met his proxy statement for 2022, each member of the c-suite, received a bonus based on an individual performance multiplier, right? So while in 85% multiplier would have shown they met expectations. All of the executives, received a multiplier of either 125% or 165% showing they are exceeded what was expected of them. So, This. Wow, this this employee is dead on. He's a perfect interpretation of the proxy statement. Wow, that's really great. But did Mark look into the camera during the call and say you need to leave? Pity City. Well yourself. You need to get that money. Go out, get that job. He would have had the right? Because according to our board sabermetrics data, I put it into our machine here. It came out with the response who cares, right? Because this is Zach's World. Anyway, he represents 11% of the directors and 79% of all this. Yeah, okay. That is this is where this future free float employee. Clearly does not understand the nature of Mark Zuckerberg. So, which is you could ask me all the questions you want. I pay whoever I want however, much I want. And no one can tell me. Otherwise, that's the way that works. Two more stories for today. April, 24th 2023. There's a big investigative piece on our one of our favorite. DJs one of our favorite CEOs, DJ D, Saul, DJ D saw, that's Goldman Sachs CEO David Solomon. This investigative report is about his corporate jet use. This is yet another kind of dirty ESG proxy kind of look There's a lot to unpack in this article, this is a pretty big investigative piece but let me just cut to the chase. Investors are increasingly uneasy with DJ Diesel, and DJ diesel is increasingly on a private jet to the bomb. Wait, is that the headline that that's what should be the? I made it better for them. And here's why I point this out because this is the board saber metrics angle. I'm mostly just here to tell you that. We are already predicted. That DJ's saw was his demise really pretty decent demise. Didn't we predict this for this year? I believe in our prediction show this year, we had DJ diesel as it gets that. And I'm not just and I don't when I say, predicting his demise this is not. This is just as a CEO, not as a DJ or human being, I'm not predicting anything. All right now or that now they're clear. Okay. Here's how we know it. Matt from our data. He despite the fact that he is CEO and chair, right? He only holds 16% of the influence on the sport. This is very little juice for a combined CEO chair. That's that's shortly. Lo That you have two creepy directors sitting right by. I'm Lakshmi mittal and Michelle Burns combined with 22%. There's those two alone. Those two creeps staring down at him at every meeting, right. Creeps creeps might be hard creeps from his perspective because they have a combined more influence than he does. That's true. And it's worth saying that Bob chapek at Disney before he got asked had 17% of the influence. So now we're talking about diesel has less influence than a man who got asked by his CFO for the X. White Knight Bob Iger to come back so who's Diesel's White Knight who they gonna bring back, they can't bring back fine. If anything what you're setting up is maybe a future book Boomerang CEO situation, maybe DJ Diesel's like oh this year and then but because there's still a power gap on this board. Maybe he's the future Boomerang CEO. When they let him go, do they let him go? Do they mention the private jets? And the, in the, you know, showing up a Lollapalooza, or do they do? They just say, like, we just are not happy with your like, you know, stock performance. And I don't care as long as they mention us. I hope they mention our influencer data. Yeah, that would be correct. Absolutely shouldn't mention us. All the time. And finally, more Bud Light Dylan Mulvaney Fallout really. This is still going, in fact, we might even have more on this. We just got a email today this morning from Doug. Cha the great. Oh yeah man. Doug Mighty, Doug the mighty Doug. That's actually the Mighty Duck. Who is teasing us with some maybe? Some he wants to go a little deeper into the store. Looking at the the beverages industry. Let's get them on Wednesday. General, let's have join us Wednesday or so. Here's the latest story on this Elisa heiner shine. That's a great name for someone who works at Bush, right? That makes me feel like something bad's gonna happen. She was Bud, Light, vice president of marketing. Can you imagine that that there's a vice president of marketing for a shity watery beer. Isn't that crazy? Isn't that amazing to you? This is the vice president for everything. Okay. She is taking what's their calling a leave of absence. They're blaming it on the woman who was the vice president of marketing. Yes. See there's more to the story. Okay. Yeah. So you're right. So I guess she's the one responsible for market for the marketing partnership with transgender tiktok star. Dylan Mulvaney, they're replacing her with someone who sounds, the very opposite of Alyssa heiner shine. And that would be someone who Vivic would probably call. Excellent. Someone named Todd Allen, who has those two two white names? Two first white names right there tall. I don't know if we covered this but Anheuser Busch CEO. Brendan we're with Whitworth said in the statement last week, the company quote, never intended to be part of a discussion. That divides people, though he did not directly refer to Mulvaney or the yeah, we talked about this week, you were sick for a day and God is Not allergy. Yeah, Alyssa heiner Scheid. Who was worked for Bud Light since June 2022? Said on a podcast. Although not this one. She said last year that she intended to evolve and Elevate Bud Light right by having a campaign. That's truly inclusive. So the company knew about this and that's good. They obviously hired her to do this, she said that Bud. Light, was in a decline for a really long time in referred to the company's previous marketing tactics as fratty and out of touch. Yeah. And did she mention that? It tastes like swill. So I mention that, so, how's this Matt Kid Rock gets mad at you. And you let go of the woman who you knew was trying to replace the old. Horrible, Friday climate. What is this? Why here's the problem leaving. Yeah, here's the problem. The vice president of marketing is not the one who makes the marketing decisions. There is a chief marketing officer. There's a c-suite, a campaign campaigns like this have to get vetted like across multiple levels. I cannot believe for one second that this will Brendan Whitworth Buy Herself was like, you know what, we need to do? Get a trans influencer, they too. Yeah, smash shell for our company, they really know what five other people. But a year ago, she was already talked about having more inclusive campaigns, right? They hired her they hired clearly for this. Yes, then she did it. And now, they're replacing her with the man, with two white names, in fact. Yeah, in fact in her bush, I'm gonna give you some I don't know if I'm giving them credit, but according to our data, they actually, there is no female power gap on the board. It's basically 33% 33 percent. So a third of the board or women and they represent a third of the influence, which again is unusual. So, what I'm trying to say here is that this company, they know what they've been doing, they're trying to give women a voice. They hired her for this reason, they caved to an Angry Kid Rock. Well, I have to retract because last week I sort of Praise them for not apologizing. Okay. The headlines last week were about how it was a non-apology, right? Like, and it was from conservative media saying like, you know, like they're not apologizing for their going woke or whatever. And and I was saying yeah nor should they like what the fuck you use? The use one influencer over here. Like am I supposed to be mad that you, you you like advertise? It monster truck, you know, rallies, who cares, right? Like I don't care. You are advertised everywhere. That's what companies do. But I was celebrating the fact that they didn't apologize. Now, it looks like this is the apology. The apology is force. The woman who talked about your supplier. Why do this? Yeah, who am I? You asked her to do this? Yes. And then you quietly remove her and replace her with white name, white name. So, here's my hope that won't happen is that this is actually just a leave of absence and she'll be back because they really should be firing the person who hired her. Because again, they know why they hired her, they need to be firing, like, they need to fire. Nobody, this campaign is not a problem, get over it. Like, like let people buy cases of Bud, Light and go out in their backyard and shoot it, it's fine, stay away, but stay away from my back here. Yeah, just don't do it too. Close to our backyards. That's all. We got that. What do you mean? That's all? We got still a lot. It's still a lot that was like a short show. For us, I know, but still a lot going on there. If you really slow down and think about it, for once in your life, if you just slow down, okay, you've already lost our listeners. That's Damian Ross. I'm at mascardi, we are free float by board sabermetrics. If you don't, you don't get batting averages. You don't get influence. People are buying it. So you should really be a part of the Revolution. Yeah, try to follow them. Your friends have already, bought it? Where are you until tomorrow's corporate theater tomorrow? Right? Until tomorrow's corporate theater show. Sure, maybe goodbye.