Transcript
Live. Live live. Live. Like that's a question. From the ISS Panda Garden. That's nice. Oh, it's sounds. Is that the Chinese food place or is that? Oh, it's an actual Panda Garden. I think they have ISS has a partnership with the Smithsonian Zoo. What's the zoo on the National Zoo? Oh really see ISS they are in Rockville, whatever. Yeah, I mean they probably get into DC exactly it's the ESG Industries, only weakly woke data podcast, you know, unlike Matt a lot of our quote unquote competitors that sell people editors for whatever we do, there are companies like ours who do a better job, raising money and they sell things that are tangential to ours, but unlike them, we actually have experience in our field. None of our competitors seem to come from an ESG background. They stay come from like restaurants and where do they come from? I don't even look. Yeah, I know you're reacting because there's like a new app that launched that does ESG. Something there's like one every month maybe. And there does seem to be one every month and they all seem to be getting five million dollars from Venture Capital firms of 27 people. They all have 40 people working there who have approximately zero experience never have experienced. Yes, ever, right? So I know this is, this hurts your soul a little bit because you you can't figure out why we have no money. We haven't really tried and excellent products. Very small and a very, very small team. Which actually, that's probably good. That's Matt. Mascari in today's enormous, Shady grapefruit called mate, 24th, 2023 and ESG irony Roundup. Yep. And an exhaustive but exhausting Look at recent annual meeting vote results. He really know how to sell it at the top. Our show today is being sponsored by S gauge your ESG Data Solutions. Provider. Now, I will say this about us here for our sponsor cheer. I'll say this about skh and Paul Paul has a crap ton of ESG, industry, knowledge and experience. I'm not talking about Paul, I'm not talking about s gauge. He actually knows what he's talking about. I'm talking about I don't know what you're not talking about them or talking about them. All right, something. Oh today we got something a little bit different for you. I'm gonna hand off my typical headline, host reading duties and I'm going to hand it off to you because you have something concocted. I don't know what you're up to. What are you doing? Yes, I just have some things to say in a way to say it, so let's do it. Sure. ESG irony around up first up, two CEOs, announced that things that would fundamentally change. Their business models will never happen, there's this headline Boeing CEO Warren's climate friendly biofuels will quote, never achieve the price of jet fuel, that's Boeing CEO, Dave, Calhoun who added of sustainable aviation fuel or saaf. We will create scale and get more economic know. I don't think we will ever achieve the price of jet a. It's going to be what it's going to be. Calhoun was speaking to Aviation Executives at a conference yesterday when he said this, but he neglected to mention In this segment that Boeing launched less than a week ago, a program called Cascade in support of Net Zero in aviation and sustainable aviation fuel. So it's never going to happen but we are supporting it. Happening is effectively Boeing's messaging here. Calhoun also didn't mention his own business Trends section of the 2022, annual report from Boeing, which said, while the Outlook continues to improve, we can continue to face a challenging environment has anybody not face the challenging environment in their annual report, even we this team of four face challenging environment. It's challenging environment everywhere in the near to medium term as airlines are facing increased Fuel and other costs. In the global economy is experiencing High inflation, but it's not possible. It's a sustainable fuel would ever compete with increased fuel costs is the is the implication not possible. Not possible. It's going to be what it's going to be, meanwhile, In a country with no vested interest at all in oil, the Qatar Airways CEO suggested. 2050 Net. Zero goal is beyond Greek. Oh, CEO Akbar. Al Baker told the cutter economic Forum, quote, I don't think that we will be able to achieve net-zero emissions by 2050. Everybody's talking about it, but let us be realistic, there is not enough production of sustainable aviation fuel. Well, that's it's more than your prediction. Yeah. Go ahead. Yeah, it's worth noting here that neither CEO as part of their comments suggested flying less as a solution. Can I say Matt, I'm glad you brought that up because that was the that was my thought. Last night. I was when I sent you that article was Why does every CEO pretend that the current business environment? The current way of doing things has to be the only solution for the next 27 years, why? Because it is the only way. And to suggest otherwise, it's just ridiculous. Nothing changes. I suppose not working has ever changed anywhere. Nothing is ever changed everything. You know what I wouldn't care about Qatar, CEO, fly half as many flights and double the price of the ticket. I don't care. Do it. Yes. Do it really. Nothing's Gonna Change for you. You actually probably save some overhead. So yeah, go ahead do it. I dare you. It'll be the same. Everyone will be happy. You included. In other news, Ron DeSantis may have actually manufactured the woke mind virus in a lab in. Florida, this is new reporting in 2019, DeSantis established the office of minority health and Health Equity to administer Health, Grants to people of color and Women and discriminate ostensibly against white people by having one Department devoted to minority health and Health Equity. The program is called closing the gap program, George Soros, appears not been involved in this. What blurry think? a no word on Larry Fink, we reached out for comment, he did not get back to us but it looks like The Mind virus was may have actually been released. By this department and they managed to contain it simultaneously. What are you talking about? This is a goof. You goofing. What is this? Here's the real news and Gallup poll showed that American public, the American public who's very aware of ESG. And in a survey went from 8% in 2021 of the American public, very aware of ESG, to a staggering 11% in 2023. Literally no one cares. Yeah, but I think we're gonna take the credit for that 3% bounce. That's probably mostly us. Yeah. And I will say it's the opposite direction of of the, what the national support for the national Center for Public Policy research, they're going lower. So he's going higher. Yeah. I it does strike me though. That Ron DeSantis claimed a woke, mine virus was at fault for companies going well and it does seem that he has that virus contained. By limiting its spread amongst the American public. I'll say this domain. If it goes up 3%, every year until 2050 that would be 81. That would put awareness by 2050 at 92% 92 percent. Wow, I'm predicting right here by 20592. Percent of all Americans will not only know what ESG is, but we'll have it for breakfast. That's what we may not. We may not be zero and Aviation and we have twice as many flights, but well, no with the acronym means, while the woke mind, virus may be under control. Its effects are still being felt Target announced. It's pulling some lgbtq plus merchandise from stores ahead of June pride month after threats to workers. Explain this one to me. I've only seen the headlines. So apparently stores in the south of seen Pride merchandise. Moved from the front of the store, they had to move it to the back of the store where I guess no one walks. To the back. I always go to the back. That's where the horrible Men's Wear is right in the back. I always go there also, isn't that? where actual like, Holidays, always in the back corner and all the phone chargers. And come on. What's going on here? Um, they've reportedly the big argument is they they've stopped sales of something called, tuck friendly. Women's swimsuits that are designed for trans women. It's stopped sales. They've stopped sales and they're removed these from the shelves, because the backlash. Okay, this isn't this some stores in the South, this is not a nationwide policy. I don't it did not specify whether it was Nationwide, but they've definitely stopped the sales at least in some stores. And they do this because I'm physical threat against their workers. Apparently, someone is really upset by what someone else wears as a swimsuit. Sure. But there are conservative means circulating on social media. The source of all important information suggesting that these swimsuits are targeted towards kids, only or kids primarily kids sizes for tuck, friendly swimsuits and none of that. Currently is true. They they don't exist but that's what circulating and it's creating a backlash. The Target CEO said on not this podcast last week that Dei or diversity equity and inclusion fueled company. Growth over the last nine years. Yeah. Um, but we here at board sabermetrics and free float. Our data suggests that the woke mind. Virus should have been foreseeable at Target. Oh yeah, for the following reason. Yes, I'm excited. This is from board saber. Metrics our data, this is board, saber metrics. The board is stacked with the woke Derek. A rice sits on Disney's board. Also sits on Target's board and Monica Lozano sits on Apple's board, like also sits on target sports. This is not our version, our definition of the term walk, the the right step definition of the term, will just any woman or any black person that is in order a black person and a woman, I just mentioned. Yes, the board actually has no gender. Power Gap. According to data, whoa, women occupy 38% of the board and they own 36% of the power. It's basically no power Gap. There's actually a slight positive diversity, power Gap, meaning of diverse board members occupy, a quarter of the board, but 28% of the power. It's very slightly in favor of power and the management team. And according to our metrics are considered aristocratic with Highly Educated directors. Um, and no single source of influence, the CEO only commands. Brian Cornell, only commands 22% of the board power far. Below, most American peers, this suggests to me. That what Brian Cornell is saying that Dei field company growth over the last nine. You might actually be true. He might be earned. Yes, he actually has experience with the D the E and the I, yes. And has seen it actually to do something and listen to them, and listens to them. That's correct. Now assuming that nobody likes, nine years of growth at Target because apparently, now we're backlashing against it. If all else fails and editorial suggestion by me Target could leverage, existing gun laws in the South to arm all their employees. Like we hope to arm teachers and then you can shoot everyone who yells at you for the swimwear choices of others. I don't like you ended up that part you know. Next up, let's turn to Damien to give us an update on sports. You really rushing me into my segment. He got places to be this. Here's my concern for the anti wolf. Is that magically they've already deemed Walmart to be woke. I still can't. I'm trying to unravel that, but there are a lot of groups who Target Wal-Mart as being super woke. But now targets woke, Matt, where the hell are they gonna show up what's left? Look where they are excellent questions. The dollar store gets a lot of that gets. They get a lot of finds but abusing their workers and so maybe that's the only hope left. I think you nailed it. Okay, I think actually what we need to do is create a list of every company that treats his workers, incredibly badly hates and discriminates against everyone, and that's what's left for them to shop at, okay, All right, you could do that. Okay. All right, I'm here for the sports report. Do I get any sports music? Sure. Give me some how about this. Okay. Yeah that sounds kind of sporty. All right, Matt. This is your least favorite segment. Oh, I got I looked at 10 to be fair. I looked at like, 45 and you will meeting results, but I'm only gonna focus on 10 and, and to help you, not fall asleep. Matt, I have a takeaway from every one of these meetings. I have my takeaways. Oh, listen to a few of them and see if you like my takeaway. Let's see where this goes. Let's start with the Royal shell Pro meeting, and I have a audio clip from that protest. So why don't you play that for us? Oh, hi there, I could excuse me. Excuse me. I I think we've heard your point. You've made it several times over. If I would ask you to sit down and so we can listen to the views of other other members of our of our shareholder Community, who would like to listen to their views. Can I just say it's exciting for us because we don't that the voice you heard there. Not the protestor was the board chair. Sir, Andrew Mackenzie we don't often get footage of chairs doing their thing. It's very excited. It's true. Also worth mentioning that he was effectively making a diversity and inclusion argument by saying, please sit down. Let's include the other voices from our shareholder Community. I like that. Absolutely true. So let me tell, let me answer the question. I know a lot of our listeners are wondering is that is the effect of the woke? The protesting woke is there an effect at these annual meetings Okay, I'm gonna say because I looked at the results from the voting at Royal shell, okay. So that has the woke mind virus has Larry Fink has George shorts how they taken over the corporate world. The answer seems to be no Oh, the management proposed that management had its own energy, energy transition proposal that got 80%, yes, shareholders had their version that got 20%. Yes, all other 24 items voted on at the Royal shell meeting after that protest received average support of 99% of the vote. Wow. So my takeaway is Protesters are. Losers. That's my takeaway. I think that's correct. That's the right way to take this. Let's go to Honeywell. There was a vote on an independent board chair. 45% of shareholders voted? Yes, okay. Oh, that feels like a tease so close. But here's what I wanted to add is that according to board sabermetrics, to be fair, the CEO and chair. At Honeywell Darius, Adams check. He has 28% of the influence, while the lead director, Scott Davis has 23% of the influence. So, wow, actually seem to already be creating a counterbalance there at Honeywell doesn't look like they need to separate them. So if they, if investors just got their facts, right? They wouldn't have filed this proposal in the first place and let me give you another reason to buy board super metrics is that investors lead director. Scott Davis had the most votes against because of his high tenure. That's I'm I know that's why they voted against them because I've been doing this for years. But if they looked at the board super metrics data, they would know that he actually represents the only effective counterbalance and influence to see you again. Wow. Don't vote against him that and aside to our listener. Yeah, that's called nuance. Yes here. Oh so there. The sisters of Allegany had up a proposal report on environmental justice Honeywell said. We have added discussion of how our existing program interacts with environmental justice concerns and their 2023 report. So while the proposal failed, my takeaway is that honeywell's gone woke because they are actually going to Wow. They're gonna write about environmental justice concerns. Okay. So just for all of our anti-walk listeners put Honeywell on your list Honeywell. Yeah. Stop buying from there. Do we have a running list of places? Not to buy anymore? It's pretty much everywhere I guess except for here except for free flow O'Reilly Automotive oh you can buy O'Reilly Automotive I'm just a fascinating one man. I wish there was a visual for our listeners but hear me out the O'Reilly Brother battle. The annual O'Reilly Brother battle Larry and David O'Reilly they both been on the board for over 50 years. The winner this year is David O'Reilly oh I was rooting for Larry over one more million voters voted against Larry for some reason over David I don't know why they hate Larry but they see I would bet on FanDuel that Larry was gonna get less votes than David or less hate. Here's the what's actually important here overley automotive and here's what all these are competitors. Don't cover in their weird new apps, okay? Matt there are the board has 10 members. They have pictures of all the boards on in the proxy statement. Six of the 10 directors, all the white dudes. All the white male directors at O'Reilly. Automotive are pictured wearing an R, identical, orange dress shirts? No, yes, they seem to have an O'Reilly. I can't really feed focus in there but it looks like there's no Riley logo there but all six of them have our interests shirts. The other four directors, three women in a black man. Were not given the same church. They're wearing regular clothes. My takeaway is clearly O'Reilly on a lot of automotive automotive as a white male supremacist cult. I mean, I'm just saying I mean what the hell? I I don't know what's going on here. I included the pictures in our in our I know. So my reaction is actually strictly to the pictures. I have not. I've read a lot of proxies tape. Yeah. And never in my day. Have I seen something as Pat leverty? They look exactly. Like, they just got out of the white guys. Look like they just got out of a Penitentiary. Yes. And the three women. And one black guy looked like how did we get put here? What what who are these people? The only person wearing really weird, is the black man. Yeah, so this is actually needs to be circulated. We should circulation social media because this is this speaks for itself is absurdity. And this is proof. Why you should be listening to us? Because you only hear this here AT&T There was a racial Equity audit vote. Only 22% said? Yes, but here's all right. Here's the important part. This was brought up. This was proposed by the Nathan Cummings Foundation, which is endowed by the founder of Sara. Lee food, Sara Lee, Oh so here's what about that. Here's my takeaway pound. Cakes are woke. Wow. See where we went with that. Cannot bound cakes. Now Morgan Stanley. There was a Chevrolet. Proposal policy to cease financing, new fossil fuel development. That only got a 5%. Yes. Okay. But Morgan Stanley did say that it continues to support the transition to a low-carbon economy. We have already committed to achieve Net Zero by 2050 so my takeaway clearly Morgan, Stanley gone woke. Wow. Next era, energy data, I don't think I've really ever seen this proposal before they had a board skills disclosure proposal. I don't really know why you'd vote against this aboard skills disclosure. It got 49%? Yes, it almost so close. Yeah, that was brought up by the New York City Employees, Retirement System. Wait but yeah go ahead pausing. A second to ask in the 51% against disclosing the board skills to be on the board. What was exactly the argument against it? I don't really understand the board to ask about against it and then they went on to list all of the things that they agrees with it. They said they said, in fact, the border Greece had a diversity of skills and attributes as a key quality of a well-functioning board is important information for shareholders and I will say this to your point at target next year energy very unusually has a positive female power Gap. Plus one percent weird that you would suggest vote. Like I think it's time I the number of votes that boards just suggest to vote against is what 98% ninety nine percent of Shareholder proposals. It's time for them to just stop saying we have to say we have to say against. Yeah. Because this one seems like I want to know who voted against this and I also want to know why they can't just say, yeah, I've done this in my past. Like this seems like basic information to hire somebody. I will say, though, my takeaway is that since next era energy is essentially supported the diversity of skills and attributes is important that they've gone. Super woke obviously know, Tesla Tesla. You know, I'm gonna jump right to my takeaway. I don't want to talk about Elon Musk so I'm just that is correct. That's the right takeaway. I like Ultra group. here's the big news last year, 62% Of shareholders voted. Yes. On a equal in civil rights, assessment proposal. Yeah. Yeah. 62% said. Yes. Yeah. Well, strived in exist yet. All Tria has agreed to essentially, to abide by this Gerald proposal. They had a press release in January saying that they are. Yes, they're going to conduct and equity and civil rights assessment right for some reason. The sisters of Saint Francis of Philadelphia were added again this year and they put up a civil rights Equity audit, another vote that one failed. I don't know why. The sisters, maybe the sisters should just take the Victory and give it a mess. But I mean, I imagine that the board's response was, we already agreed to this and have our producing it like as we speak. But here's the important part. The important part. Two things are important here that yes shareholder proposals do actually matter. This one this one Pastry as a to abide by most of it the other important takeaway is the ultra has gone extremely woke. Okay. Wow. Everybody you can't I can't get an air purifier. What can I do? Harley Davidson Say on pay 49.9% voted. No 40. My takeaway. All vote lives matter. Oh and finally in my big sport, what am I doing? Annual meeting Roundup. Home Depot. The national Center for Public Policy research, that's Matt's new favorite group. They had a racial Equity audit up for very, very tongue and cheek very ironic racial Equity audit. They got 0.009%. Yes, that's like three shares. Yeah, so I guess my takeaway here, since Home Depot told shareholders a boat against the national Center for Public Policy. Research, is that? I guess Home Depot is gone. Whoa, I guess that's why. You know, nothing says woke Like Bernie Marcus X founder of Home Depot saying that woke is the reason for all their problems. That's it. That's my big round up. Wow. That that was not just a big Roundup, that was way more exciting than I thought. It was well because only, because of O'Reilly Automotive. Let's be fair. I mean, seeing six men dressed exactly the same and literally, the only people who were white men dressed. Totally differently is comedy. Yeah, well, who was responsible for the Optics on that one? Who made that final decision the marketing team. They're gonna put that person on on leave. That's Damian Ross. I'm at Ms. Garney. Thank you for joining our afternoon broadcasts. Well, Wednesday, we are business. Ants, we sell products. Those products are called board saber metrics. They tell you everything you need to know about boards. Big. Thanks to our sponsor s gauge for all of their support over the many, many months and years, you too can sponsor us simply by rating us Giving us five stars leaving us to review and or giving us money. So we talked about you on the show until tomorrow's show. Goodbye. but,