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Business Pants Apr 21, 2026

Tim Cook steps over, Swiss envy Singapore, Ford’s EV oops, and the corporate groin

Discussed in this episode

Show Notes

DR1 In our 'And in the biggest leadership transition of 2026' headline of the week. RPM Announces Appointment of Thomas C. Gentile, III to Board of Directors *************** In our 'When we told shareholders that keeping Jay Hoag on the board was in the best interests of shareholders right after they voted him off the board. Haha, suckers.' headline of the week. Reed Hastings Reveals His 'All-Time Favorite Memory' At Netflix As He Steps Down *************** "My all-time favorite memory was January 2016, when we enabled nearly the entire planet to enjoy our service." In our 'Proxy analysts give up and openly announce laziness' headline of the week. AI as the New Proxy Advisor: Reshaping Shareholder Activism Communications *************** AI is currently more likely to support an activist’s case for change than an incumbent Board and management team. Which sources most often shape AI analysis in proxy fights? frequently source lower-quality, but higher-volume, automated sites for retail financial analysis In our 'Master Certified Life Coach and college dropout tells people that data centers are the new corporate coffin' headline of the week. A talent CEO says data centers are a 'massive opportunity' for office workers to pivot mid-career *************** Broadstaff CEO Carrie Charles In our 'Two MIT grads beg the Supreme Court to let them cause millions of addictions and bankruptcies and maybe even influence geopolitics' headline of the week. Kalshi’s fight over sports betting is hurtling toward the Supreme Court—and the future of gambling is at stake *************** In our 'Switzerland calls Singapore to congratulate its success in diversity in leadership' headline of the week. Gender diversity, tenure length remain governance gaps among Singapore company chairpersons *************** 3 of 30 Sing: 1 in 30 switz MM1 In our 'CHINA CHINA CHINA CHINA CHINA CHINA part 1' headline of the week. Ford's CEO said he chose to test-drive a Xiaomi and not a Tesla because the latter doesn't have an 'updated vehicle' "We flew one from Shanghai to Chicago, and I’ve been driving it for six months now, and I don’t want to give it up," In our 'CHINA CHINA CHINA CHINA CHINA CHINA part 2' headline of the week. Ford CEO Draws Line In Sand: Keep Chinese EVs Out Of US – 'Should Not Let Them Into Our Country' Allowing the Chinese companies in would be "devastating” to American manufacturing, which Farley calls "the heart and soul of our country.” In our 'When we say, "Endless", you say, "Temporary"!' headline of the week. Red Lobster’s Endless Shrimp Is Back—With a Few Strings Attached Unlike the promotion’s previous iteration, this time Red Lobster plans to offer Endless Shrimp on a limited-time basis at participating locations. The chain won’t serve it to-go, for delivery, or on holidays. In our 'When we say "Standard", you say, "What standards?"' headline of the week. Standard Dental Labs Inc. Appoints Brendan Cummins to Board of Directors Brendan Cummins, finance and trading dude, joins the board that includes founder James Brooks, whose prior work in "financial leadership" and Claire Ambrosio, lawyer to James Brooks. The management team listed includes Kristin Triplett, accountant, David Acosta, finance acquisitions, and Tiffany Boulton, communications. Not listed at Standard Dental Labs: a standard dentist. In our 'When we say, "Your nurse", you say, "You mean Gary, the gig nurse who also works as a DoorDash delivery guy?"!' headline of the week. ‘Uber for nurses’: gig-work apps lobby to deregulate healthcare, report finds DR2 In our 'Exclusive-horses are horses' headline of the week. Exclusive-Musk and insiders to retain voting control of SpaceX after IPO *************** In our 'Hey Ma, another headline where big tech screws up big but won't be held liable, you know, because of free speech or china or trans people or DEI or whatever, tell Dad!' headline of the week. Barclays CEO Flags Anthropic's Mythos AI As Potential Catalyst For Cyberattacks On Global Banks: 'A Serious Issue' *************** In our 'Blah blah founder blah blah chairman blah blah nepobabies blah blah activist investor blah blah blah how did this board even exist in the first place blah blah blah founder let's get rid of the only woman blah blah blah founder blah blah blah investors' headline of the week. Activist Investor Value Base has joined forces with the late founder’s children in efforts to oust the chairman and most of the board, including the late founder’s second wife. *************** Radcom: 7 directors: 1W In our 'The meritocracy is for wussies' headline of the week. Elon Musk bans résumés and cover letters in hiring for his chip team. These are the 3 bullet points he’s looking for instead *************** In our 'The meritocracy is for pussies' headline of the week. The FBI is easing hiring requirements and turning to social media to attract applicants to rebuild workforce depleted by firings and resignations *************** In our 'About 1,000 activist investors tried to storm a Veterinary Diagnostics company protected by a classified board, a dual class stock structure, and an independent lead director that has been on the board for 24 years' headline of the week. About 1,000 animal welfare activists tried to storm a beagle research facility protected by a manure-filled trench, hay bales and a barbed-wire fence *************** MM2 In our 'After careful consideration, after considering Craig, Johny, Kevan, Eddy, Steve, Mike, Phil, and Adrian, we settled on John to succeed Tim who succeeded Steve.' headline of the week. Apple names John Ternus as CEO to replace Tim Cook In our 'What Jeff Garcia taught us about succeeding Steve Young' headline of the week. What Tim Cook taught us about succeeding a legend In our 'When we say "Exit", you say, "Executive Chair!"' headline of the week. Tim Cook’s exit is part of a CEO reckoning sweeping Corporate America In our 'Though shareholders voted against mustard, the board thinks the vote results reflect a general view that hot dogs are not delicious, and so the board has rejected the resignation of mustard.' headline of the week. A. O. Smith board rejects director resignation after shareholder vote Following the tender of offer of resignation by Dr. Kadri and in accordance with the Policy, the Committee (with Dr. Kadri recusing herself) considered the offer of resignation at a meeting on April 14, 2026. Based upon, among other things, the skills and qualifications of Dr. Kadri to be a member of the Board, her past contributions to the Board, and the belief that the “withheld” votes for Dr. Kadri, who is a highly valued member of the Committee, were primarily reflective of stockholder views regarding the Company’s dual class capital structure and not because of any specific objection to Dr. Kadri, the Committee recommended that the Board reject the offer of resignation In our 'If Chief Legal Officer is the calf of companies, are Chief Human Resource Officers the groin?' headline of the week. C.E.O.s Are the Heads of Companies. Should They Also Be the Face?

Transcript

Live. From the Mellow Waters of a black rock branded Keurig, half pumpkin spice latte. It's an all-new terrific Tuesday edition of business pant. Yeah, joined by analysts whole Matt mcgard what pumpkin spice? It's April. What is what is an analyst hole? That house. So, what that means, it's always, it's a hole that's a database joke. What is it's on? Today's Tim Cook flavored. Vanilla soy milkshake, called April, 24th, 2026 business nuggets. Oh, Yeah, this is where we that's it. Try to be in a good mood. All right. Get all the world's problem. Forget, all the corporate problems. Can I just tell you? I have never seen. More headlines generated and maybe we're partly in the AI slot error. So I guess it's hard to compare. I've I haven't seen more headlines generated. In our feed, then the Tim Cook resignation, it just in the CEO resigned category. We have so many different dumb categories. Yeah, a lot. Yeah, there were over 300 headlines. That's he is, by far so far in our company's history. He is the number one CEO now buff. It must have been no clothes. Not not buff, well, because Buffett was retiring the last 40 years. So, this show is different is 900. So they all knew it was coming, there's something about Apple because even more than Bezos, I'm thinking, who else? Stepped down? That was a big as cook. Because Apple was a Bezos? Is that the only one? I don't even know. It must be. There's not many. He's that apple is our, is the company of the world. I gradually declaring it. I got no fourth time, not 300 has. That's true. That's are you ready? 300 in aggregate? Yes, our show today is being sponsored by free flow analytics. Yeah. Board power connection is performance for free. It is and know the date is not fixed yet, but the platform's little janky right now. Yeah, that happens is the maping rare. It's free. It's free quick complaining. Only one category is not really working. All right. in our, And in the, in Amar, I already already fail already. We haven't even started. The syntax here is terrible. I blame the writers in our And in the biggest leadership transition of 2026 Headland of the week. RPM announces appointment of Thomas C Gentile the third to board of directors you just, I took a job. Tim Cook joke. Yeah, that's like a Tim Cook. I figure you do a bunch. Everyone else is doing a bunch of everyone's talking about Tim Cook, even the business insiders that are 10 favorite memes. So far from Tim Cook's resignation. Our. When we told shareholders that keeping Jayhawk on the board, was in the best interest of shareholders, right after shareholders, voted him off the board suckers headline of the week. Reed Hastings Reveals His all-time favorite memory at Netflix as he steps out. Can you believe that's his favorite memory? I isn't that his favorite memory twice because Schiller's in the back Hogue was voted out two times and stayed both times. It's got to be Hastings must think that's hysterical. You want to hear the actual dumb favorite memory? This is he actually have one? Yes. So I'm gonna be disappointed. Just try to guess quickly. It's gonna be like the time. They launched like the first movie or something. You know. Basically there. But it's a bit more like, dominating the world. My all-time favorite memory was January 2016. When we enabled nearly the entire planet to enjoy our service. It's like, yeah. That's what. Yeah, that's a great member. That was a dictionary day. Number one, he was very excited that Liberation from going outside day. Yes, that's what you're excited about. Seems boring in our Proxy analyst give up and openly announced laziness Headland of the week. Wow, AI as the new proxy advisor reshaping shareholder activism Communications. That was this a press release where they said we give up. Yeah basically I hear a few tidbits about the use of AI now in proxy analysis. First of all AI is currently more likely to support and activist case, right? For the change in the board and management which is What investors are already do? They already support that? I mean, it's like nobody did any analysis on the actual proxy advisors before doing the AI analysis? And how about this? This is from a report from the Harvard corporate governance blog, which sources most often shape, AI analysis and proxy fights. It's They frequently Source lower quality, but higher volume automated sites for retail financial analysis. So like a guy writing on his. Yeah, slob is what they're saying, so this is it. Yeah, good going everybody. I'm not here to crap on anyone's business plans, anyone's companies ice SSD Morgan, these proxy companies that try to use AI but what really is this is this the goal of collective Humanity to like pass the buck to a machine and not do anything like how was it exciting? A lot of people just think you should just use it because it's the future anyway. And that though what using your brain is already boring and that's boring. It's pouring. We've been doing that for 10,000 years. The two different thing where we don't use our brain. In our Master Certified life coach and College. Dropout tells people That data centers are the new corporate coffin headline of the week? What is that? Yeah. A talent CEO says data centers are a massive opportunity for office workers to Pivot mid-career. Massive that's broad, broad stuff. CEO Carrie. Charles imagine. So she calls her, they call her a talent CEO and she wants people to segue into working in data centers. Can you imagine a more dystopian horrible? Data centers, other windows. Even, I like the idea of other any restaurants, around the Middle East a talent CEO, but what is that? Well, I did notice she's a called Dropout, but she does have a master sir. She's a Master Certified life coach. Like is it? I just wanted to distinguish it from the not Talent CEOs as well and then. Yeah. Okay. Speaking of CEOs that actually did graduate in our two MIT grads begged, the Supreme Court, to let them cause millions of addictions and bankruptcies and maybe even influenced geopolitics headline of the week. Tell She's Kelsey's fight over sports. Betting is hurling toward the Supreme Court and the future of gambling is at stake. I mean another another way. Yeah, another waste of this is an actual waist, it's like two MIT graduates. The bedding. You bedding? Have you ever heard them? Talk about what it is? They do. Tell me, I don't want they view themselves as doing like, the an incredible Public Service like a story and they're like a story. They're basically saying like, you know, they are, you know, there was one. Quote, I saw where, I believe it was Polly Market. CEO said that, some people in Iran were looking at Poly Market every day to the odds. That their town was going to get bombed and whether they should go into a shelter, right? Like like that is the, that's what that's where we're at. Yeah, that's where we're at. Well, those, I'm sure those CEOs that said that they're not making, it's not for profit, right? They don't have any shares that they don't have dual classes. They're not dual class. It's in our Switzerland calls. Singapore. To congratulate its success in diversity, in leadership headline of the week. That's a positive head. That's really nice gender, diversity, tenure length, remain, governance, gaps, among Singapore, company chairpersons. So this article is all about how in Singapore, only three out of 30 companies. Have women that share their companies, but we have 30 but we covered one report at a Switzerland last month. They only have one in 30. 330 is a lot, right? So there they've already heard old past Switzerland. Congratulations wow. Well done, Singapore. Wow. Well done. Who the thought? All right, I'm going to do a few good. in our, China, China, China, China. China part one. No one week. Yeah. Ford CEO said he chose to test drive a xiaomi and not a Tesla because the latter doesn't have an updated vehicle. Headline that this is Ford CEO. Jim Farley this guy's confusing me, go ahead. He went out and in 2024 they this is what he said. Quote, we flew one from Shanghai to Chicago, and I've been driving it for six months now, and I don't want to give it up. Wait just admitted. So he said, he's and this is the same guy who was like telling the American government. We cannot let the Chinese sell their cars here. Well, for some reason, which all of the headlines about this are how he didn't get a Tesla. He got a Chinese even compared to the Chinese car and he basically was like, because they didn't have an updated model. That's why we didn't get a test. Well, we wanted something more updated. And then he doesn't want to give it up and then leading to the next headline in our China. China, China, China, China, China, China, China, China China. China China part 2 headline of the week. Ford CEO draws Line in the Sand. Keep Chinese EVS out of the US should not let them into our country. That was what he said, oh, okay. I don't want to get too deep into any economic polls or anything, but why is that okay? What is going, what is it about China? Is it, what is it about there? Like skin color? That's so horrible. What, what do we hate about China? I don't understand. It's just that it's better. Like look this is what he said, allowing the Chinese companies and would be quote devastating to American manufacturing which Farley calls quote, the heart and soul of the country. Basically he said they're better at it, their cars are great. I didn't want to give mine up, leave them out. So no one else can have them. He doesn't have a bunch of Engineers at four that can't like take that thing. Apart and like build one that's similar. He doesn't have the like are these are all the freak Market capitalists are everybody's who like walk around and they're like free market. Capsules was greatest shareholders. Shareholders vote out the entire board and get that guy fired. This is the wrong guy to lead Forge. This is absolutely literally And we don't know. Yeah, we're actually Steal from them. And in order to win we actually have to keep them out of our country actually. Oh wait you can't do anything about it because the Ford family controls that company. And that's, that's sad to me. That's sad. I don't find it. I find it infuriating. I find if you're eating because you know what? Same assholes who like are telling us that like, you know, the AI Revolution is going to free us and free market. Capitalism is the greatest thing in the world and like and everyone's a winner under this system. And meanwhile as soon as they face competition as soon as someone's better than them, it's do. Not let them in you subsidize us, we need the government to regulate. The only time they that you've ever heard any text CEO and he car. CEO asked for regulation is with China. China, only place. Well, I'm waiting for the manufacturers like Sun lamps to complain about the sun being better than their son land. We gotta keep it out. Right? Keep the Sun out. Everybody get a shit. Get some shade. All right, in our When we say endless, you say temporary headline of the week. Yeah. Red Lobsters endless shrimp is back with a few strings attached. Do you know what those strings are? So yes, unlike the promotion Poop Shoot. Yes quote. Yeah, like the promotions previous iteration this time, Red Lobster, plans to offer endless shrimp on a limited time basis at participating locations. Does that mean like from 4:30 to 4:45 to go for delivery or on holiday? I think we knew that they were gonna do it to go. I mean so that amount of shrimp but somehow like come to your house, how that work. So amount of the last iteration. Yeah they they it wasn't the to go, the delivery makes no sense but the but people would show up with to go containers they brought from home you mean trash piles shrimp into it and To get home like an endless amounts stuff, and that they let them do that. This is pretty. That's like having a buffet. A restaurant, that's a buffet and letting people take the whole Buffet home. But like the only reason why they're breaking. Yeah, like the Detroit, like the cart know, just the whole hook it up to what to a pickup truck and just drag it out. The only reason why they're bringing it back is because they literally, like Cracker Barrel. Can't get a single person to go to Red Lobster and they only way they can think to do it was weird charged. 25 dollars for endless shrimp in the store. Imagine again, this is another company like Ford. Imagine you have a company that sells one of the most sought-after Foods on the planet Lobster is it is wildly considered got to be the top 10 standard of like most expensive. Most luxurious most wonderful. I mean they rip off Taurus here and my state of Maine in the summer sometimes a lobster roll cost like 50 dollars and people buy it, it's still buy it. And yet this company Red Lobster can't figure anything out there. Well, the fact is who can afford graduation. Like, like, also, how much shrimp do you need to eat? I don't like, End is like a shrimp and five shrimp and you should stop. You're gonna like give yourself an allergy. What else you got in? Our When we say standard, you say what standards headline of the week. Standard Dental Labs Inc appoints, Brandon Cummings to the board of directors good, you're doing a board of directors joke, I like this. Yeah, okay. Well let me give you a little background. I like this is not publicly traded company, but I thought this was hysterical. Brendan Cummings who's joining the board? He's a finance and trading like, you know, market trading dude. He joins aboard that includes founder. James Brooks whose prior work included, quote Financial leadership. There's no companies listed, it just said Financial leadership, okay? And Claire Ambrosio, who was the lawyer to James Brooks? Those are the board members so married. No, it does not say that there. It just says that she was his lawyer. The management team includes Kristen, triplet and accountant, David at a Costa who does Finance Acquisitions and Tiffany Bolton. Who does Communications, not listed at standard Dental Labs a standard dentist. There's No dentist. That's so, like, no, medical professional 14. I it's like, I thought it was hysterical because I click on all of these links that's like, somebody gets added to a board and I'm like, oh, that's that's interesting. Who is that? And standard. Dental Labs could not find a dentist to put on. Yeah, we we tag so many articles, daily directors, joining boards. And we only tag ones where they actually named the person that headline. And I sometimes I wish we could, like, fall through and every one of them, because half of them do seem completely dumb. They're just so crazy dumb, it's just dumb. All right, last one for me and I'll go back to you and our when we say your nurse, you say you mean Gary the gig nurse who also works as a door Dash, delivery guy headline of the week. Uber for nurses gig work apps Lobby to deregulate Health Care report finds. Ah they're trying to make. So the text Bros, the dual-class tech Bros are now weighing in on the American healthcare system because it works so well for cabs and you know, delivery calls and delivery. Oh yeah, trying it with nurses. What the fuck? An eight dollar Burgers like 17 dollars. If you get it through the app, it's beautiful. It's wonderful. Not to mention that you really want your nurse while you're sitting there like getting an IV. I post surgery to be some guy who opened his app that day and said, I could use some nursing work right now and showed up. That's what you want. You don't want like the regular. Who knows the system? It's nuts. All right. Take it away. Take it away from me. I don't like that. Last one in our exclusive. Horses are horses. Headline of the week. Exclusive exclusive musk and insiders to retain voting control of SpaceX. Wow, that's an exclusive. Yes, exclusive. What published that exclusive shocking shocking in our Hey, Ma. Another headline, where big Tech screws up. But won't be held liable, you know, because of free speech or China or trans people or Dei or whatever, tell Dad headline of the week, your Boston, accents, getting worse. I know, because I'm like I'm self-conscious about it while I'm doing it. Barkley's CEO Flags anthropics Mythos AI as potential Catalyst for cyber attacks. On global Banks, calling it a serious issue. But, you know, whatever. I mean, you told me last week, that there is a politician in Illinois, basically saying, no matter what they do, who gives a crap. So yeah, that's what products that that call that are Catalyst for cyber attacks on banks. Mass deaths is the thing that they won't be held liable. Yeah. Whatever's close enough in our this is just stick with this one for now, our blob blah founder blah, blah blah, chairman blah blah, nepo babies blah blah blah activist investor blah blah blah. How did this board even exist in the first place? Blah blah, blah, founder. Let's get rid of the only woman, blah, blah, blah founder blah, blah, blah. Investors headline of the week. I'm at first, you could read that. That's what I thought when I read this headline because it was just so much to me. Just so over the top, activist inventor activist, investor value base, Has joined forces with the late, Founders children in efforts and efforts to oust the chairman and most of the board including the late Founder's second wife. I mean, what is happening? That's a lot of stuff. This can that company? Just go away? Do we need this company? I mean, I I was shocked. Founders children. Second. What is like? What is this? What's Happening Here? I like, I like that. The headline actually doesn't have the name of the cone in it. Well, it's red. It's red calm. They have a board of seven and they only have one woman in the good news. Is that the activist investor is targeting that woman. The one woman that one, get that one out that letter out makes sense, you know our The mark, the meritocracy is for wussies headline of the week. Elon Musk bands, resumes and cover, letters and hiring for his chip team. There are three bullet points. He's looking for instead. I don't really care what they are, but there you go. That says it all. Doesn't it. Yeah, we don't want your resident. We don't want to know like if you're qualified for this job. So what was Doge all about? More feelings. Like, man, feelings boy, feelings, just like every gut instincts. Yes, it's man, feeling. Good to put it. The meritocracy is man feelings. That's, that's all it is. Is it is in our the meritocracy is for pussies, headline of the week. Oh yeah. Right? What season pussies? See that The FBI is easing, hiring requirements, the FBI. Is amazing, hiring requirements and turn to social media to attract applicants to rebuild. Workforce depleted by fire and resignations. So there you are, there you go. But it's a great nurse. A great industry to die. Like what do we do doing? What do we are doing, man, we're doing man feeling's. We want people feeling, we want people that we feel comfortable telling like racist sexist jokes around, I guess. Like that's what those are. The three bullets to hiring now and then finally. before I hand off to Matt, the endless hole in our stick with this one too. Here we go. And now our about 1,000 activist investors Try to store a Veterinary Diagnostics company. Protected by a classified board. A dual-class stock structure and an independently director that has been on the board for 24 years, headline of the week. That's real. That's a tough. That's sounds like a tough battle there, right? Here's the headline about 1,000. Animal. Welfare activists tried to storm a beagle research facility protected by a manure field trench. Hay bales in a barbed wire, fence. All I see what you did there. A little fun for instance, but that one would have killed the CII. Come on admit it. We gotta do. This Tim Cook in our after careful consideration after considering Craig Johnny. Kevin Eddie, Steve Mike. Phil and Adrian. We settled on John to succeed. Tim, who succeeded Steve headline of the week, Apple names, John ternus as CEO to replace Tim Cook. Well, you know, that headline considered Steve, you wouldn't go Steve. Tim, Steve, would you that's why Steve was out right, like this? Tim sandwich? You know what the thing. I noticed actually looking through Apple's Leadership, was there were like three women and they were obviously throwing out immediately because it's head of name it. Human Resources? Yeah, legal, yup, marketing. Yep. Oh really? That really is? Yeah, it's like Communications, so that's all government affects. All women are good for now. I'm actually amazed. I mean, look, we know that women are getting by far the most law degrees now But I'm, I'm actually, like surprised that companies listen to that. And actually hire women to do is it, is it because they're seeing lawyers, as, like, annoying, pests like annoying shrill like, you know, compliance like it's kind of like a role for a mom. It's like a nagging you to stay in complaint nagging you to do the right thing and then like all of like, the fun jobs like Innovation and, you know, religion development. They like man feeling. Dude, we had a fascinating conversation off the air and I'm not gonna of course I am not going to suggest who we were talking to at a chief head of a general counsel at a major know, a Fortune 500 size company who she told us basically the same thing that she that she would constantly tell them what they were doing was borderline illegal. Definitely on ethical horrible for the for everything and yet they were just like shut up. Leave us alone? Yeah. That's what they told. Her shut up. Yeah, that's great. Now you're fired. Yeah. That's sticking with this for a second car. What Jeff Garcia taught us about? Succeeding? Steve? Young headline of the week? You went back for that one. I actually understand that. I understand, you understand that, I don't think anybody else will what Tim Cook taught us about succeeding. A legend. There are so many headlines about what a legend. Tim Cook is succeeding Legend. I thought the legend was jobs, Tim jobs Legend but now Tim Cook is a legend. So you're saying him because Steve Young was a quarterback for the 49ers is Steve Young. Also in the Hall of Fame. Is that what you're saying? He's in the Hall of Fame. Jeff Garcia is not Jeff, of course. Okay, game manager. He's like so, so Tim Cook reference here. Tim Cook is now a legend is what you're saying? I'm saying because seared the ship for a decade manager. Tim Cook, right? Is now looked at like, like a Super Bowl winning legend for not sinking the ship. So Steve's. Right? So, Steve Jobs handed him the iPhone, the iPad, the iMac. I found iPad iMac and are indeed for yourself. He just had to sell it and he's a legend. Oh, what's funny? Is every one of these stories just talk about Tim Cook as supply chain Logistics, wizard. Okay, well he was CEO, he was CEO. They've ignored the part where everything that was a new idea failed miserably under Tim Cook. They only focus on the fact that it's a 4 trillion dollar company that it didn't collapse when Steve Jobs died and that Tim Cook is a supply chain Logistics. Look the apple is this is one of the the original like Tech companies as addiction machine. They what Steve Jobs did was incredible job, adding people to his brand. I mean that, but that's all him. I mean, but but they were refused to buy anything else other than Apple. So, Steve Jobs is great. Innovation was myth well marketing marketing. Well, it was crazy. The myth of innovation Valley, right? People used to line up for the new iPhone, they used to sleep outside. Yeah, right like that for like a bloated calculator. And then last one on this, in our, when we say exit, you say executive chair headline, right? Yeah. When are we gonna reckon with that idea? Go ahead. Jim cooks. Exit is part of a CEO. Reckoning. Sweeping Corporate America. No, wait, not a reckoning. Did you look in that article? That is a from Fortune. What is the Reckoning is about AI? What are they talking about? It's some combination of AI and, and the fact that all of these old CEOs, like, Iger and Buffet are stepping down and well, and eventually there's just a lot of CEO transitions this year. So they're calling the transitions a recording. But the fact is all of those CEOs like that they're, that are Reckoning are either already Boomerang CEOs, like second, third time. Yeah, 90 years old, yeah or executive chairs. They're not going anywhere. There's no one's going anywhere. ABC reported that one of the This is where a lot of big CEOs are leaving is because yes, they're old and B, they don't understand AI essentially and I and yeah, I think we made the comparison to AI is a bit like covid. It's like, why would you want about her right? You are a billionaire, Tim Cook's leaving with so many shares. He's already. He's a director at Nike where he has another ton of shares. Why should he bother with AI? Like, it's just like a nightmare. Don't don't bother. He could just sit there. He can just guide the agenda of the of the board that provides oversight for the next CEO. I'm just tired. I'm just tired of us calling it an exit and I'm tired of us framing these CEO transitions as some sort of mass Reckoning for well, no, it's not. They're all here it is. Extremely clear. What? The modern executive chair is now that we're a 2026, Tim Cook at nauseam. There's a lot of them as your pointing out is there. He's, he's gonna sit there for two years, he's gonna make sure that John turned his Doing a good job. If he doesn't, he's gonna Boomerang back in the CEO. That's all it is. That's all it is. It's just in case it just in case. It's literally the laziest break glass, if CEO succession playing, didn't work because succession planting because otherwise, if they trust attorneys, he would just leave right? But that's too, it's too risky. He's he wants to be able to Boomerang back. I mean, not to mention the fact that one of the board members on this board live in Livingston. Arthur Arthur. Arthur Livingston. Yeah, he has been there since jobs. Since jobs was basically brought back since like, 1997 or 2000 or 2000 or something. He overlapped, he is the longest running member of apple and a leadership position. At all and no one knows who that guy is. I gotta say it is a it is a sort of an older board. You're I mean you're right it's like kind of an average of 70 plus I'm kind of I'm surprised by that absolutely bored that like ignored its own retirement policy for both Ron sugar and larger last year, our 11th and Arthur Levinson this year, 1117, that's his name. These are all incredibly long tenured directors. Like, how much fucking stability is required? These are people who should be able to hire a CEO. Well, it's funny. You might be like, very simply landing on the reason why Apple has not figured out how to develop AI why series sucks. Although it actually might benefit them the long run because they're not going to spend like 15 trillion dollars of something when they can just partner with one of the AI companies but but that's probably the reason. I mean they got a bunch of old dudes look. You listen to art show Old proxy countdown from a, almost two years ago now, where my advice was to like this was not an Innovative board, right? I basically said earlier, not literally, it's Apple. Has done great. It's hard to say vote against people. Except if you're thinking seven years ahead, instead of seven years behind. And in which case, you should vote against everyone. They're old, they're long tenured where you might be wrong, innovators well, you might be wrong. They're might be an innovator named Monica. Lizano she's also in the boards of Target and Bank of America. That's pretty. Oh, there you go, yeah, there it is. All right, that's it. For what else? There's another one. In our, those shareholders voted against mustard. Oh I like the board thinks the vote results. Reflect the general view that hot dogs are not delicious and so the board has rejected the resignation of mustard headlines of the week. We got to keep mustard around. Yeah because the hot dog it's kind of gross. AO Smith board rejects director resignation after shareholder vote Ayo Smith is it is it? I thought it was a controlled company is a dual glass company and they have Um, one, the majority of the board is picked by the Dual class shares and then there's a public part of the board, someone lost the public part, so they lost in the public part and I rejected ilume, and this is what they said, and AKA following the tender, the rez offer of resignation by Dr. Cadre yada yada yada based on among other things, the skills and qualifications of Drury to be a member of the board, her past contributions, the board and belief that the withheld votes for Dr. Kadri, who is a highly valued member of the committee were primarily reflective of the of stockholder views regarding the company's dual class capital structure, and not because of any specific objection to Dr. Kadri the committee recommended that the board Jack the offer, which she the only director up for vote. There were four up for vote and so she was the only one who lost the others. Did they have high vote with hell? One did in the other. You did not. So how do they know why were they signaling her out? Is it it's not the fact that she sits on four public boards. That's nothing to do with it. Had nothing to do with it. Just had to do. They think it had to do with the fact that it's a dual? That's a company. That's it. That was it. Nothing to do with her. I hate the Dual class company and so because of that, we are rejecting her resignation. Look my hats off to all these directors. Look, granted, I'm a liberal snowflake from Oberlin, but if shareholders voted me out, I would like leave. I would pissed. I would be embarrassed you to go Bears but I also be like f you like I. Yeah, I just be like, okay, I'm gone like but they always come back. I don't know how they always come back too much, maybe because he investors aren't Part of the boardroom, I guess they don't have to see them. And now all the annual meetings are virtual, so you literally don't have to see what they look like to see him. No one talks to you. Let's wrap it here. Go, we're gonna go over ridiculous in our If Chief legal officer, is the calf, okay? Companies, like, like half, like baby cow or like that, like, yeah, are Chief Human Resource officers, the groin headline, the week ago of calf Chief Human Resources to Growing got it. So, this is a headline from The New York Times. CEOs are the heads of companies. Should they also be the face? Yeah. I I'm glad. I'm glad you pointing this one out. So dumb. So they're making a distinction between head and face isn't a face part of the head. I, this is what I mean, like, I mean, what not only is the headline dumb and it's the face. It's your time. Who else is the face of who's left? Who's left the CEO? So we I just told I just said that the beginning of the show that there were over, 300 headlines for Tim Cook, the CEO of Apple. So, who is the face of Apple? It's not Tim Cook. I was gonna guess. Monica Lozano. Yeah. We're the only people and maybe all the CII audience where the only ones who can name anyone else at Apple on a board. Come on. Yeah, what a dumb headline? This is, should they also be the face? When were the face? You know, before we sign off? I saw this. There was a basketball player. I don't remember who it was. So when basketball players that get press conferences, right after the game, which is our Dream, for all the boards. All That gives I love that and they give them the stat sheets of how they did during the game and the players typically look at it and and one guy like yesterday he's like, oh shit. I was, I really sucked like tonight. Like I was like God, I wish like why can't we handle like a stat sheet to Andy jassy and then Grill him about something like right. They did hand a stat sheet to the director at AO Smith who then right there like yeah we're actually gonna re-up, we're gonna direct your did offer to resign though but that's all played. You have a board here. I'd like to see that fake resignation. Is it like does it say like fuck you and crayon or something? Like what is it? What is it really say? I don't know. That's it. That's his little role is. I'm at Scotty, we are free float. Come back on Thursday. No Friday, we're going to do a double header. We're doing a Friday, show our favorites. We love doing two shows. Yeah I'm not exactly that at all. And we got Mike and Anne on Cheryl coming out tomorrow until then good.
Data as of Oct 14, 2026