Podcast
Business Pants
Hosted by Free Float Media Inc. · EN
Whether you love business news or feel like you’re supposed to know it but hate it, Business Pants is business news for humans. Snarky and irreverent, deeply researched and factual, a podcast devoted to market quirks and the humans that make up companies. Investing isn’t a what, it’s a who.
56episodes
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IN OR OUT: New Rexnord and AIG CEOs, Dana White, Autodesk board refresh, Spirit Airlines
Apr 2800:48:12Tap to summarizeRegal Renord [sic] Corporation Names Aamir Paul As New CEOIN: Louis Pinkham (24%) will also resign from the Board of Directors effective on his last day as CEO. ININ: Because of Chair Rakesh Sachdev (15%) OUTA powerful counterpoint to a new CEO’s powerAxalta Coating Systems (27%)Herc Holdings (14%)Edgewell Personal Care (13%)OUT: “On October 29, 2025, the Company announced that Mr. Pinkham, our CEO, will separate from his role with the Company in connection with a CEO search process being led by the Company’s Board. Mr. Pinkham’s separation from his role as CEO is expected to occur by June 30, 2026.” OUTWhat took them so long?And what’s wrong with their bench? ($8.775M golden hello)Brooke Lang: President, Power Efficiency Solutions (2022-)VP & GM of the Power Components DivisionEaton (2008-2016)Jerry Morton: President, Industrial Powertrain Solutions (2015-)served as President – Integration, Motion Control Solutions from 2021-2023, President of the Power Transmission Solutions from 2019-2021, Vice President, Business Leader of Power Transmission Solutions from 2017-2019, and led the global operations for Regal Rexnord's power transmission business from 2015-2017. Kevin Long: President, Automation and Motion Control (2025-)10 years at Dover Corporation, most recently as Group President of OPW, a global business serving the fluid handling, clean energy, cryogenics, and car wash markets.IN: Aamir spent years at Schneider Electric: essentially a AAA MSCI companyENVIRONMENT: Opportunities in Clean Tech 4.7 industry average/6.4 score (Regal is completely opposite here 4.7/3.0) INOUT: The Board is too entrenched: get rid of Rakesh Sachdev (15%, 18 years) Curtis Stoelting (21 years, 9%), Stephen Burt (15 years) and maybe this could work. OUTUFC CEO Dana White Says WHCD Shooting Was 'Awesome' and He 'Took In Every Minute' of the Incident IN: Dana White is Dana White. Works perfectly for TKO Holdings and Meta Platforms ININ: Because of Ari Emanuel (CEO/founder/Chair of TKO) and Zuck OUT (CEO/founder/Chair of Meta). Ari is the most powerful agent in Hollywood. Zuck is the king of social media addiction. They handle the “adult” business while Dana handles the “middle school” businessTKO Group Holdings: Ari Emanuel 67%Meta Platforms: Zuck 68%; Dana White 0%OUT: Dana White is Dana White. How are major sponsors like Disney going to feel about calling a shooting “awesome.”IN: Look at the Board: these are serious douches and they love this kind of behavior OUTAri Emanuel: known as being the a-hole of Hollywood.Silver Lake’s Egon Durban: VC bro, Elon bud, Dell buddy, say no moreTKO COO Mark Shapiro: Hollywood man has served wherever there are bratty boys in charge: TKO, Endeavor (re: Elon, Ar, Egon), Dick Clark Productions, Papa John’s, Six Flags, etc.TKO LD Steve Koonin is the CEO of the Atlanta Hawks and used to serve on the WWE and GameStop boards“The Rock”Former WWE CEO Nick KhanNepobaby Jonathan Kraft, NFLOUT: Look at the Board: these are serious douches and they love this kind of behavior. This is male toxic leadership that will eventually screw it all up. Ari Emanuel: known as being the a-hole of Hollywood.Silver Lake’s Egon Durban: VC bro, Elon bud, Dell buddy, say no moreTKO COO Mark Shapiro: Hollywood man has served wherever there are bratty boys in charge: TKO, Endeavor (re: Elon, Ar, Egon), Dick Clark Productions, Papa John’s, Six Flags, etc.TKO LD Steve Koonin is the CEO of the Atlanta Hawks and used to serve on the WWE and GameStop boards“The Rock”Former WWE CEO Nick KhanNepobaby Jonathan Kraft, NFL AIG names Andersen CEO as Zaffino moves to exec chairIN: You’re getting a two-headed monster. Eric Andersen (ex-Aon President) handles the daily operations, while Peter Zaffino stays as Exec Chair to handle the high-level strategy OUTIN: Andersen spent years at Aon. OUTClimate Change Vulnerability 6.2/8.2 Human Capital Development 4.2/4.9 Privacy & Data Security 3.8/5.0OUT: AIG is already strong in the same places: OUTClimate Change Vulnerability 6.2/7.1 <p data-rte-preserve-empty=...
Transcribe →CEO turnover boom, Texas rejection, and white guy leadership victimhood (man feelings)
Apr 2401:01:03Tap to summarizeStory of the Week (DR):Apple names John Ternus as CEO to replace Tim Cook, who will become chairmanApple CEO Tim Cook is stepping downMeet John Ternus, the 51-year-old former swimming champ who will succeed Tim Cook as Apple CEOTim Cook to step down as Apple CEO. In letter, describes 15 years of emailsTim Cook’s exit is part of a CEO reckoning sweeping Corporate AmericaAre internal CEOs the way to go?Best Buy taps insider Jason Bonfig as new CEO, Corie Barry steps downShe’s actually leaving the boardLululemon names former Nike exec Heidi O'Neill as CEO MMLululemon CEO Pick Heidi O’Neill Faces Skeptical Wall Street AND Lululemon shares dive on new CEO pick — as investors fear she may not have chops to save struggling companyO’Neill brings more than 30 years of experience in performance apparel, footwear, and sports, including over 25 years at Nike, where she was credited with transforming their women’s business from a side-project into a global juggernaut. Her leadership spanned product creation, brand strategy, marketing, and global operations, making her one of the most influential executives in the company’s modern era. Most recently, she served as President, Consumer, Product & Brand, overseeing Nike’s global consumer and product engineGolden hello: $7M equity, $2M cashRoughly 75% of Lululemon’s customers are womenLululemon board: 7 of 11 FChair Martha MorfittCommittees:Audit: 2 of 3 F, including chairNomination: 3 of 5Pay: 3 of 5 F, including chairAlso: CFO, Chief Merchandising Officer, Chief People & Culture Officer, Chief Legal and Compliance Officer, Chief Brand & Product Activation OfficerNow we get why Chip is so mad: Chip Wilson, Lululemon’s founder, largest shareholder and chief agitator, has not weighed in on the pick yet, although he previously advocated for waiting to name a new CEO until the board could be resetBest Buy taps insider Jason Bonfig as new CEO, Corie Barry steps downBest Buy taps insider Bonfig to succeed veteran Barry as CEO amid demand slowdownOil giant BP suffers shareholder revolt over climate transparency at tense AGM“BP suffered a shareholder revolt at its AGM over the election of a new chair and resolutions that included dropping some climate disclosure obligations”BP failed to get majority shareholder approval on two highly anticipated motions, which would have permitted online-only AGMs and retired two company-specific climate disclosure obligations. Each resolution received around 47% support, far short of the required 75% required to pass.Ahead of the AGM, BP’s board blocked a motion tabled by Follow This that would have required the company to share plans on creating value for shareholders under future scenarios of falling oil and gas demand.Resolution 1: Annual Report and Accounts – 98% For / 2% AgainstResolution 2: Directors' remuneration report – 95% For / 5% AgainstResolution 3: Directors' remuneration policy – 95% For / 5% AgainstResolution 4: To elect Albert Manifold as a director – 82% For / 18% AgainstSome activist investors had said even a 5% vote against Manifold, who has only been in post as chair since October, would represent a severe reprimand, particularly after a historic 24% vote against outgoing chair Helge Lund last year.Resolution 5: To elect Meg O'Neill as a director – 97% For / 3% AgainstResolution 6: To re-elect Kate Thomson as a director – 96% For / 4% AgainstResolution 7: To re-elect Dame Amanda Blanc as a director – 95% For / 5% AgainstResolution 8: To re-elect Tushar Morzaria as a director – 96% For / 4% AgainstResolution 9: To re-elect Ian Tyler as a director – 96% For / 4% AgainstResolution 10: To re-elect Satish Pai as a director – 92% For / 8% AgainstResolution 11: To re-elect Dr Johannes Teyssen as a director – 89% For / 11% AgainstResolution 12: To re-elect Hina Nagarajan as a director – 96% For / 4% AgainstResolution 13: To elect Dave Hager as a director – 97% For / 3% AgainstResolution 14: Reappointment of auditor – 100% For / 0% AgainstResolution 15: Remuneration of auditor – 100% For / 0% AgainstResolution 16: Political donations and political expenditure – 98% For / 2% AgainstResolution 17: Directors' authority to allot shares – 96% For / 4% AgainstResolution 18: Special resolution: Authority for disapplication of pre-emption rights – 99% For / 1% Against<p data-rte-preserve-empt...
Transcribe →Tim Cook steps over, Swiss envy Singapore, Ford’s EV oops, and the corporate groin
Apr 2100:37:29Tap to summarizeDR1In 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 analysisIn 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 CharlesIn 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 switzMM1In 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 AttachedUnlike 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 DirectorsBrendan 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 findsDR2In 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<p data-rte-preserve-emp...
Transcribe →Allbirds’ pivot, Illinois’ AI law allows nuclear war, Amazon’s dead worker, Reed Hastings steps off
Apr 1701:06:22Tap to summarizeStory of the Week (DR):Sneaker Company Allbirds Plans to Pivot to A.I. Yes, A.I. MMAfter selling its business for $39 million last month, the company said it planned to buy powerful computer chips and rebrand itself NewBird AI.Allbirds is ditching years of clean and green street credEach share of Class A common stock is entitled to one vote on each proposal and each share of Class B common stock is entitled to ten votes on each proposalClassified: one Class I director to hold office until the 2028 Annual MeetingAI/technology experience on board: ZEROVoting powerCofounder/former CEO/director Joseph Zwillinger (24%)VC dude: B.S. in Industrial Engineering and Operations Research; M.B.A. Wharton; director since 2015Cofounder/former CEO/director Timothy Brown (27%)Former soccer player: B.S. in Design; M.Sc. in International Management; director since 2015 Director Dan Levitan (33%)VC dude: B.A. in history from Duke University and an M.B.A. from Harvard; director since 2016Lead independent director and “effective chairperson” Dick Boyce (4%)VC dude; B.S.E from Princeton and M.B.A. from Stanford; director since 20162 whole womenAlsoSnap blames AI as it lays off 1,000 workersStarbucks launches beta app in ChatGPT to fuel new drink discoveryUS Army Builds First AI Chatbot for Troops, Trained on Live Conflict Data From Iran and Ukraine, Built on Reddit-Style ForumsMeta is making an AI Mark Zuckerberg to talk to employees, report says‘AI Is Our Friend,’ Morgan Stanley CEO SaysTrump administration taps automakers to boost weapons production in WWII-style pushSenior U.S. defense officials have held talks about producing weapons and other military supplies with top executives of companies includingGeneral MotorsCEO/Chair Mary Barra has spent 2025 and 2026 "cozying up" to the administration. In recent shareholder letters, she has explicitly thanked Trump for his support of the industry and praised his tariff policy for "leveling the playing field."Director Wesley G. Bush: the former CEO of defense giant Northrop Grumman also sits on the board of GE Aerospace, acting as a major link to the administration’s military expansion goals.Two weeks prior to his resignation as CEO, a scathing independent review outlined the 14-year delay, 19x budget overrun ($800M), and numerous human errors made by Northrop Grumman in the construction of the James Webb Space Telescope, which led to Wes testifying before congressGM donated $1 million to the 2025 inauguration and supplied the official presidential motorcade vehicles, continuing their long-standing traditionFord MotorCEO Jim Farley has been described as a frequent caller to President Trump. In January 2026, Trump was caught on a live mic during a Michigan factory tour claiming Farley calls him "all the time" to push for the repeal of environmental "garbage" (EPA regulations).Chair William Clay (Bill) Ford Jr.: has maintained what he calls a "great relationship" with President Trump since the 2024 election. In January 2026, he personally hosted Trump at the Ford Rouge Center in Dearborn, where they toured F-150 production lines.Ford Motor Company was one of the first major corporations to "line up" for the 2025 inauguration. The company donated $1 million to the Trump-Vance Inaugural Committee and provided a fleet of vehicles for the ceremony's transportation needsDirector Jon Huntsman Jr. served as Trump’s Ambassador to Russia during his first term.GE AerospaceCEO/Chair Larry Culp has a very direct win-win relationship with the administration. In May 2025, Culp accompanied President Trump on a high-stakes trip to the Middle East.During that trip, Trump helped broker a $96 billion order from Qatar Airways for Boeing jets, which will be powered exclusively by GE engines.Culp was seen side-by-side with Trump in Doha celebrating the deal.Director Wesley G. Bush: the former CEO of defense giant Northrop Grumman also sits on the board of GM, acting as a major link to the administration’s military expansion goals.OshkoshDirector David Perkins: a retired 4-star General and former commander of the U.S. Army Training and Doctrine Command (TRADOC)U.S. tech companies ramp up government lobbying amid Iran war uncertaintyNetflix Chair Reed Hastings to Leave Board in June The founder is stepping aside to focus on his philanthropic effortsSarandos or Peters or Hoag?Average Frequency 2004: approximately 5 to 6 discs per month per subscriberToday: Monthly Average: This adds up to about 31 to 32 hours per month.The "Browsing" Tax: Interestingly, data shows that the average user spends about 18 minutes per day just scrolling through the menu before actually hitting "play." If you...
Transcribe →BLAME GAME: Microsoft carbon fails, Booking.com hack, Amazon + OpenAI love, Sheriff and Feeler
Apr 1400:51:52Tap to summarizeDAMIONBooking.com warns customers of hack that exposed their data: WHO DO YOU BLAME?CEO Glenn D. Fogel (2017-); no background in techCybersecurity Subcommittee (Chair) Larry Quinlan MMGlobal Chief Information Officer (2010 - 2021) Deloitte; but what was 2021 like Covid and masks? DEI hireCybersecurity Subcommittee member Nicholas J. Read (2018-): Technology not listed as qualification. Cybersecurity Subcommittee member Vanessa Wittman: most recently (until 2022) CFO at Glossier, an online beauty product company; director at AIG but does not serve on Technology CommitteeWoke coffee chain slammed by liberal California customers for removing pride flags from cafes: 'Bound to backfire'Philz CEO Mahesh Sadarangani: “Our longstanding support of the LGBTQIA+ community is unchanged. We are working toward creating a more consistent, inclusive experience across all our stores, including removing a variety of flags and other decor. This is a change in how our stores look, not in who we are.”In 2025, the company drew headlines when private equity firm Freeman Spogli & Co. acquired it for $145M. One customer said: 'Yeah their coffee sucks but this banning pride flags will not go over well - boycott incoming - maybe they need to look up what happened to Target.'Founded in 2003 in San Francisco's Mission District by Phil Jaber and his son JacobWHO DO YOU BLAME?CEO Mahesh SadaranganiHow I Philz: Ether straight up.Came from Wingstop, which just inherently feels homophobic. I mean it sells the wings of birds. That doesn’t feel right.Freeman Spogli & Co.Team: 31: 5FAnd 6 Industry Executives: 0FPartners 10: 1FLast filing from 1/2025 lists 10 executive officers: 0Ffounded by Richard Riordan, Bradford M. Freeman, and Ronald P. SpogliOG greenwashy: first page is all womenPhil Jaber and his son JacobI’m trying here, peopleThe San Francisco Bay, where the vast majority of Philz cafes are located: a notoriously homophobic regionAnthropic's Claude for Word is another challenge to Microsoft's software empireChevron and Microsoft Team Up for Giant Texas Gas Power PlantOpenAI rips Anthropic, distances itself from MicrosoftWHO DO YOU BLAME?Satya NadellaReid Hoffman: Epstein Island said what?Charles Scharf (2014-): in 2020: "The unfortunate reality is that there is a very limited pool of Black talent to recruit from."Charles Scharf again: in 2025: settled a lawsuit for $85m after whistleblowers revealed that Wells Fargo managers were reportedly conducting "fake" interviews with minority and female candidates for positions that had already been filled or promised to someone else to "check a box" and meet internal diversity guidelines.Charles Scharf and Reid Hoffman as a duo:Scharf publicly called for the firing of Lina Khan, the Chair of the FTC. He characterized her regulatory approach as a "trauma" to the economy.Hoffman said Kahn was “waging war on American business”Hugh Johnston: does it get any more pointless than Disney and Pepsi? (CFO at those places)Teri List: the boring company queen: (since 2014; The Gap/Dick’s/Kraft/Procter&Gamble/Visa/Danaher)Catherine MacGregor: she’s a woman and she’s French!Lead Independent Director Sandra E. Peterson (2015-): fake LDPenny Pritzker: nepobabyDame Emma Walmsley: she’s a woman, and a Dame, and not American and has a degree in Classics!!Mark Mason: he’s black!Trump’s SEC Is Going After Fewer Wall Street CrimesThe agency released long-delayed data that confirmed a steep drop in enforcement.That contradicts statements that the SEC’s head, Paul Atkins, made to Congress in February, disputing reports that suggested his agency was prosecuting fewer crimes, and assuring lawmakers that SEC enforcement work had not seen a steep decline.In its release of case numbers this week, the agency framed its enforcement drop as an effort to focus more on cases where investors saw direct harm and to better use agency resources: “Regrettably, such resources have been misapplied in prior years to pursue media headlines and run up numbers, and in turn, led to misguided expectations on what constitutes effective enforcement.”784 in 2023 … 456 in 2025. WHO DO YOU BLAME?Trump, duhPaul Atkins, duhSEC re-tr...
Transcribe →Sam Altman the sociopath, reasons for hope, McD’s CEO says it’s mom’s fault, and men failing up
Apr 1000:57:48Tap to summarizeStory of the Week (DR):Jeff Shell, president and board director at Paramount Skydance, is stepping down after allegations of SEC violationsShell came under scrutiny after gambler and whistleblower R.J. Cipriani filed a $150M lawsuit alleging Shell shared confidential information in violation of SEC rules.Shell previously left his role as NBCUniversal CEO in 2023 after he admitted to having an “inappropriate relationship” with an employee.The company said it did not find an SEC violation. Paramount added in a statement that the claims were “baseless” and said Shell is taking “forceful legal action.”His future at Paramount has been in question since the company beat Netflix in a bidding war in February to acquire Warner Bros. Discovery The acquisition of WBD will bring in many new executives, and Shell, who was not involved in deal talks, didn’t have a defined role at a combined company, CNBC reported last month.Yesterday, a Separation Agreement was announced: Shell will be getting approximately $16M:$5M Cash Severance ($3.5M salary + $1.5M bonus)$11M Equity Acceleration (1,000,000 shares @ $10.95=$10.95M)12 months of COBRA benefits COBRA/Subsidies ~$30,000According to the agreement: “The Executive shall not issue a press statement announcing about the separation without the advance approval of the Company” and “Nothing contained in this Agreement shall be deemed or construed as an admission of wrongdoing or liability on the part of the Company or of the Executive”“The problem is Sam Altman”: OpenAI Insiders don’t trust CEO DRInside Sources Say Sam Altman Is a SociopathOpenAI Insiders Claim Sam Altman is Lying, Manipulative, and Untrustworthy in The New Yorker's InvestigationSam Altman’s Really Weird Week Just Got Even WorseTwo OpenAI Execs Are Going on Medical LeaveThe company’s chief marketing officer Kate Rouch is reportedly stepping down to recover from cancer.And Fidji Simo, OpenAI’s CEO of artificial general intelligence development — and arguably one of the AI company’s most important cogs — is taking medical leave.“For my entire time here, I’ve postponed medical tests and new therapies to stay completely focused on the job and not miss a single day of work”Proxy adviser ISS recommended a vote against the BP board for revoking two resolutions from 2015 and 2019 requiring company-specific climate reporting which passed with near 100% support at the time.At the same time, Activist shareholder Follow This agreed with ISS and warned of possible legal action after BP refused to put a separate shareholder resolution on the agenda of its April 23 AGMOklahoma bill would block climate change lawsuits against fossil fuel companiesA measure introduced in the legislature this year would prohibit anyone in Oklahoma from suing fossil fuel companies for damages related to the effects of climate change or greenhouse gas emissions.Rep. Anthony Moore (R-Clinton) said the legislation would protect the industry, which includes any company working with oil and gas, coal, natural gas liquids or refined petroleum products: “The reality is, if you were to get that judgment, billions and billions of dollars, that's just passed on to the taxpayer — that would be passed on at the pump, that would be passed on through electricity costs, energy costs across the board would dramatically change. There's no reason that that has any place in any court of law, but especially in Oklahoma.”Rep. Anthony Moore won a state championship in golf; minored in Bible in college; began his professional career as a landman in the oil and gas industry; his law practice focuses primarily on oil and gas; and has received numerous recognitions for his for his work representing oil and gas mineral owners, earning Super Lawyers Rising Star recognition in the field of oil and gas law for five consecutive years.Mark Cuban admits he made a mistake letting go of the Mavericks: ‘I don’t regret selling. I regret who I sold to’Family of Sheldon Adelsonfounder/chair/CEO of Las Vegas Sands CorporationOwned more than 50% of stockStill routing took $25M in pay, including $5M in security costsSon-in law patrick Dumont: CFO/directorDonald Trump's largest donor in 2016 and 2020 ($557M as of 2024)In February 2012, Adelson told Forbes magazine that he was "against very wealthy people attempting to or influencing elections. But as long as it's doable I'm going to do it.”secretly bought Nevada's largest newspaper for $140 million through a shell company: the Las Vegas Review-Journal in Dec. 2015, a deal orchestrated by Adelson's son-in-law Patrick Dumont and seen as "lavish" and as a dramatic overpayment, and speculated that the move was a power play to further Adelson's business or political agendasA set of editorial principles drawn up in 2016 and publicized to ensure the newspaper's independence and to deal with possible conflicts of interest involving Adelson's ownership were withdrawn after a new publisher was hired. The new publisher personally reviewed, edited, and sometimes killed stories involving AdelsonFighting cannabis legalization was a personal passion of Adelson, whose son Mitchell died of an overdose of heroin and cocaine.[69] Mitchell used cocaine and heroin from an early age.[70] Adelson believed cannabis is a gateway drugA few random scandals:The Macau Bribery Settlement ($9 Million)The Steven Jacobs Wrongful Termination Suithe...
Transcribe →GOOD GAME: Activist takes our advice, EPA vs. microplastics, UA union deal, endless shrimp
Apr 700:44:43Tap to summarizeThe Good GameActivist investor seeks to oust Americold Chair Mark Patterson over “problematic boardroom behavior”Activist investor Sieve Capital is pushing Americold Realty Trust to remove board chair Mark Patterson, citing his tenure on the board of scandal-ridden office landlord Paramount Group.OpenAI releases policy proposals aimed at addressing fallout from AI-driven job losses The proposals, which OpenAI admits are “ambitious” and “intentionally early and exploratory,” include everything from a new industrial policy agenda to modernizing the tax system to expanding access to healthcare coverage and retirement savings.They are meant to help answer questions about job disruptions and AI systems that evade human control, and to protect against governments deploying AI in ways that run counter to democratic values.Among the core policy suggestions is a public wealth fund, which would see lawmakers and AI companies work together to invest in long-term assets linked to the AI boom, with returns distributed directly to citizens. Another is that the government should encourage and incentivize employers to experiment with four-day workweeks with no loss in pay and offer "benefits bonuses" tied to productivity gains from new AI tools.EPA Wants to Prioritize Microplastics, Pharmaceuticals as Water ContaminantsEPA Administrator Lee Zeldin said the move sends “a clear message: we will follow the science, we will pursue answers, and we will hold ourselves to the highest standards to protect the health of every American family.”Delta started sharing profits with its 100,000 employees two decades ago. CEO Ed Bastian says shareholders love itThe payout is sizeable: this year, Delta dispersed over $1 billion to its roughly 100,000 employees.Profit sharing distributes a slice of company earnings directly to workers as a cash bonus. At Delta, the formula is simple: 10% of the first $2.5 billion in adjusted profits, and 20% of everything above that.Proxy adviser ISS recommends vote against BP board over attempt to scrap some climate reportingISS recommended a vote against the BP board on revoking some previous climate reporting resolutions and allowing it to hold online-only shareholder meetings: "A particularly compelling argument would be required to justify such a legal revocation, which we believe is unprecedented in the UK context," ISS said about BP's resolution to retire two resolutions from 2015 and 2019 requiring company-specific climate reporting which passed with near 100% support at the time.Activist shareholder Follow This broadens climate campaign against BPA group of European investors led by activist Follow This urged BP on Thursday to drop plans to scrap some company-specific climate-reporting commitments and called on shareholders to vote against the move at the oil company's annual meeting this month.Follow This also warned of possible legal action after BP refused to put a separate shareholder resolution on the agenda of its April 23 annual general meeting.TVA CEO Don Moul announces retirement as Trump slashes his payThe CEO of the Tennessee Valley Authority, the largest public utility in the United States, will retire July 1.Don Moul, CEO since April, 9, 2025, notified the public utility's board of directors April 3, closing a turbulent chapter for the federal power provider.Had Moul decided to stay on at TVA, he would have faced a 90% pay cut as the Trump administration seeks to cap pay for all TVA employees at $500,000.Moul, the highest paid federal employee, made about $6 million as TVA CEO in 2025.Similarly sized utilities in the South, and TVA in the past, have paid their CEOs substantially more than Moul made. Jeff Lyash made over $10 million in his last year as TVA's chief executive. Lynn Good, a recent CEO of the private Duke Energy company, drew $21.6 million in 2024, and in the same year the CEO of Southern Company made $23.8 million.Starbucks staff will now get paid weekly — and some will get new bonuseswill allow baristas and shift supervisors at Starbucks' top stores to earn up to $300 each quarter — or up to $1,200 a year — for meeting sales goals and consistently delivering a positive customer experienceUnited Airlines and flight attendants reached a tentative deal with $740 million in bonusesUnited Airlines and the Association of Flight Attendants-CWA reached a tentative five-year labor agreement on March 26 that would provide the carrier's 30,000 flight attendants their first pay increases since 2020, including a $740 million signing bonus pool and top wages of $100 per hour by the contract's end.Beyond base pay, the contract also covers compensation during the boarding process, additional pay when lengthy gaps occur between flights, and limits on how overnight flying can be scheduled.United said the agreement would make its flight attendants the highest-paid in the industry. <a href="https://fortune.com/2026/04/01/chief-human-resour...
Transcribe →Oracle’s bloodbath, Musk’s SpaceX, company “overstaff” gaslight, Jamie Dimon says
Apr 301:06:39Tap to summarizeStory of the Week (DR):Elon Musk's SpaceX set to go public in $1 trillion share listingElon Musk’s rocket and satellite company SpaceX has confidentially filed for an initial public offering with the Securities and Exchange CommissionThe firm could seek a valuation of $1.75 trillion with a public listing around June.A confidential filing means that SpaceX will submit its financials to the SEC before revealing them to the public, which must occur at least 15 days before the IPO roadshow.Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares.Among current SpaceX owners is Donald Trump Jr, the president’s oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family’s businesses.Public investors may get low-vote shares, while insiders could hold super-voting stock with roughly 10 to 20 votes per share, if the reported structure is adopted.Reports suggest SpaceX has been adding board members as it prepares for the IPO process.The company’s board has historically included Elon Musk, Gwynne Shotwell, Antonio Gracias, Luke Nosek, Steve Jurvetson, and Donald Harrison in reporting about its governance.Gwynne Shotwell is widely reported as president and COO, and Bret Johnsen as CFOBig Banks Seeking a Piece of SpaceX’s I.P.O. Must Subscribe to Elon Musk’sMusk is requiring Wall Street firms to purchase subscriptions to his A.I. chatbot if they want to advise on one of the largest initial public offerings in history.Air Canada CEO will retire this year after his English-only crash message was criticizedMichael Rousseau is stepping down following a massive public outcry after he delivered a condolence video almost entirely in English regarding a fatal plane crash that killed a French-speaking pilot.Critics and politicians, including Quebec’s Premier, were outraged that Rousseau failed to fulfill a high-profile 2021 promise to learn French, viewing his English-only response to a tragedy as a sign of deep cultural disrespect.Air Canada’s board has launched a global search for a successor and explicitly stated that fluency in both English and French is now a non-negotiable requirement for the next CEO.The company clarified that while a "comprehensive internal development program" has been in place for two years, the recent controversy accelerated the timeline for his departure.Rousseau will officially retire at the end of the third quarter (September 30, 2026), staying on until then to ensure a "seamless transition" and assist the board during the handover.Air Canada CEO Michael Rousseau initially stated he did not intend to step down following backlash over an English-only video regarding a runway incidentElon Musk called the decision “crazy” and suggested “it is not reciprocal.”“There are many one-sided laws in Canada that mandate French at the expense of English,” he posted to X, along with a Grok answering his request to provide a list of Canada’s French language laws and explain “how this is hypocritical compared to no English mandate laws.”“Extremely hypocritical and unfair!”Oracle fired up to 30,000 workers via email after a 95% profit surge. Tech companies are cutting almost 1,000 jobs/day DROracle Corp.’s mass layoffs on Tuesday were part of the company’s cost-cutting measures as it continues to build out expensive data centers for powering artificial intelligence.But one aspect of the mass layoffs — which were estimated to be as many as 30,000 people — was alerting workers over email at 6 a.m. Eastern that Tuesday would be their last day.The terse message, sent to workers in multiple regions and time zones, carried no executive name and was instead signed off simply as 'Oracle Leadership.'“We are sharing some difficult news regarding your position.After careful consideration of Oracle's current business needs, we have made the decision to eliminate your role as part of a broader organizational change. As a result, today is your last working day.We are grateful for your dedication, hard work, and the impact you have made during your time with us.After signing your termination paperwork, you will be eligible to receive a severance package subject to the terms and conditions of the severance plan. You will receive an email from DocuSign to your Oracle email address with details on your severance and termination date.Immediate Action RequiredTo receive important follow-up information, including FAQs and separation documents to help you through this transition, you must provide a personal email address.Please click here to submit a personal email address immediately. If you make a submission error, please re-submit a new form. Please Note: The personal email address will only be used for correspondence regarding separation-related information and severance agreements.Access to your computer, email, voicemail, and files will be deactivated soon, and you will be unable to log into your computer. As a reminder, you are prohibited from downloading, copying or retaining (including emailing yourself) any Oracle confidential information.Thank you for your contributions to our organization. If you have additional questions, please reach out to the HR team via the Ask HR page or at (888) 404-2494.Oracle Leadership”“After careful consideration of Oracle’s current business needs, we have made the decision to eliminate your role,” an email to one affected employee, obtained by MarketWatch, read.Survivors of the cuts were allegedly told by senior management that they would need to 'ramp up efficiency' and 'stretch' to cover the workload left by departed colleagues, a suggestion that many are resisting.Allegations that automated tools influenced redundancy decis...
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Mar 3100:46:03Tap to summarizeAir Canada CEO [Michael Rousseau] to step down in 2026 amid recent controversy over French-language skillsThe Board of Directors of Air Canada has announced that President and Chief Executive Officer Michael Rousseau will retire by the end of the third quarter of 2026, following nearly two decades with the airline.Did the official press release mention the crash?Did the official press release mention the CEO’s inability to speak French?Will he remain on the board?According to the Board, when did it start the internal succession planning process?According to the Board, when did it start the external succession planning process?Did the press release stick to Canadian/Quebec language laws and use the appropriate accents in Montreal and Quebec? YES: Montréal, Québec.Some TRUE and FALSE questions from the company’s latest proxy statement:TRUE of FALSE: Air Canada “regularly test the linguistic skills of its more than 15,000 public facing employees in respect of Canada’s official languages”TRUE of FALSE: The proxy states it has “2 official languages.”TRUE of FALSE: In the CEO’s opening letter to shareholders he states that “We are immensely proud of … promoting our official languages.”TRUE of FALSE: Language proficiency is an official skill used to describe directorsTRUE of FALSE: Air Canada is the only airline required to offer services in both official languages in CanadaTRUE of FALSE: “Air Canada uses both official languages of Canada in its corporate, customer and employee communications and is committed to promoting both official languages of Canada across the country, and have policies, programs, procedures and tools to help our employees learn and improve their language skills. Six of the seven members of our Executive Committee are bilingual.”Xerox Board of Directors Appoints Louie Pastor as Chief Executive OfficerWill he be chair or just a director?How many CEOs since 2022?How many CFOs since 2025?What is the average board tenure of a Xerox director?How many different executive positions has Louis Pastor held at Xerox since 2018?How many times has Louis Pastor resigned from Xeros since 2018?On March 25, 2026, Starbucks Corporation held its 2026 Annual Meeting of ShareholdersAverage support for directors?Number of directors with 99% support?Lowest support?Percentage against Say on Pay?The Accountability Board submitted a shareholder proposal requesting supermajority shareholder voting requirements be replaced with majority voting requirements. The board gave no recommendation? What percentage of shareholders supported this proposal?How many supported an SHP asking for an Independent Chair?Why was it so low?Finally, there were 4 anti-SG/anti-woke/anti-DEI. What was their average level of support?Democrats Examine Elon Musk’s Role in Suspension of Business Disclosure LawThe Corporate Transparency Act requires companies to report information about their ownership to the government, an effort to combat problems such as money laundering and terrorism.In February, a New York Times investigation revealed that Mr. Musk was quietly operating at least 90 private companies in Texas that would have been subject to heightened disclosure; and that he has used limited liability companies that disclose little about their ownership structure to disguise his spending, including to support Mr. Trump in the 2024 election.The Treasury Department suspended the law last March one day after Mr. Musk posted on X, in response to a user frustrated about the law, that he “can look into it.”Who is the group examining Elon Musk led by?What is Chick-fil-A offering families to ditch phones at the table in push to unplugTotal bill forgiveness“Conversation Cards” sponsored by Chick-fil-AA signed photograph of CEO Andrew Cathy, the third generation of the Cathy family to lead the companyEarly access to new menu itemsIce CreamNetflix cofounder Reed Hastings says his first boss out of college would wash his dirty mugs at 4:30 a.m.—so now he returns the favor for his staff too“One morning I came in very early to the office [at] like 4:30 [a.m.], and I went into the bathroom, and there was my CEO. And he’s washing coffee cups,” Hastings explained. “And I was like, ‘Barry, are you washing my coffee cups?’ And he said, ‘Yes.’ And I said, ‘Have you been doing that all year?’” “He said ‘Yes.’ And I’m like, ‘Why?’” “And he said, ‘Well, you do so much for us and this is the one thing I can do for you.’”How does Reed return the favor to his staff?Investors Suing to Vote on ESG Proposals Meet Corporate PushbackChubb Ltd. and BJ’s Wholesale Club Holdings Inc. are pushing back against shareholder lawsuits seeking to place ESG proposals on annual meeting ballots.Chubb: 23% F (3/13) with 13% total influenceThere are only 3 women on Chubb’s board, how many Michaels do they have?CEO (2004-) and Chair (2007-) Evan Greenberg has been at the helm for 22 years. How many years has he served with Lead Independent Director Michael Connors (2011-)?BJ’s Wholesale Club30% F with 14% influenceTwo of 10 key executives at BJ’s are women. How many of BJ’s 6 key board leadership positions are led by women (3 committee chairs, CEO, Chair, Lead Director)?A CEO trying to reindus...
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Mar 2700:54:54Tap to summarizeStory of the Week (DR):Meta and YouTube Found Negligent in Landmark Social Media Addiction Case: A jury found the companies harmed a young user with design features that were addictive and led to her mental health distress. DRHistoric Financial PenaltiesNew Mexico: A jury ordered Meta to pay $375M in civil penalties ($5,000 per violation) for misleading the public about child safety.Los Angeles: In the first social media addiction trial of its kind, the jury awarded $6M in total damages (compensatory and punitive) to a single 20-year-old plaintiff, with Meta ordered to pay 70% and YouTube 30%.Section 230 "Immunity" is CrackingThese trials successfully sidestepped Section 230 by focusing on product design (like infinite scroll and autoplay) rather than the content itself. The juries ruled that the "addictive" nature of the apps was a design defect, not a speech issue.Direct Liability for "Addictive" FeaturesFor the first time, a jury found that features like infinite scrolling, notifications, and video autoplay were intentionally designed to "hook" young users.In the Los Angeles "KGM" trial, the jury found both Meta and YouTube negligent for creating products that they knew would harm children’s mental health while failing to provide adequate warnings to parents.Evidence of "Profits Over Safety"The trials featured internal documents and depositions from Mark Zuckerberg and Instagram head Adam Mosseri. The evidence convinced jurors that executives were warned by their own employees about risks to children—including sexual exploitation and mental health "problematic use"—but chose to prioritize engagement and profits over implementing safety guardrails.A "Big Tobacco" Moment for TechLegal experts are comparing these verdicts to the 1990s lawsuits against the tobacco industry. Because the California trial was a "bellwether" (a test case), the win for the plaintiff opens the floodgates for thousands of similar pending lawsuits from families and school districts. It signals that social media companies can now be sued for the health consequences of their platforms, just like cigarette manufacturers.Elon Sux 2:Elon Musk loses big in court; X boycott perfectly legal: X admonished for “fishing expedition” as judge dismisses ad boycott lawsuit.Elon Musk Found Liable By Jury For Misleading Twitter Investors In $44 Billion Deal, Faces Potential $2.5 Billion DamagesElon Musk’s Grok ordered to stop creating AI nudes by Dutch court as legal pressure mountsOn March 25, 2026, President Trump officially appointed the first 13 members to his President’s Council of Advisors on Science and Technology (PCAST). While the council is designed to hold up to 24 members, the initial "dream team" lineup is dominated by Silicon Valley titans and leaders in AI, crypto, and fusion energy. The Chips and TechBro ClubhouseCo-Chair David Sacks (the White House AI and Crypto Czar)Stepping aside from his role as AI and crypto czar for Trump.Sacks told Bloomberg on Thursday that he has “used up” his 130 days as a special government employee: “I think moving forward as co-chair of PCAST, I can now make recommendations on not just AI but an expanded range of technology topics. So yes, this is how I’ll be involved moving forward.”Co-Chair Michael Kratsios (Director of the Office of Science and Technology Policy).Mark Zuckerberg: founder/CEO MetaJensen Huang: CEO NvidiaLarry Ellison: Founder/Exec Chair OracleSergey Brin: Co-founder GoogleLisa Su: CEO AMDMichael Dell: CEO/founder Dell TechnologiesSafra Catz: former CEO (current Exec Vice Chair) OracleMarc Andreessen: Co-founder Andreessen HorowitzFred Ehrsam: Co-founder Coinbase and ParadigmDavid Friedberg: CEO of The Production Board (and All-In podcast co-host)Jacob DeWitte: CEO Oklo (nuclear fission)Bob Mumgaard: CEO Commonwealth Fusion SystemsJohn Martinis: Nobel Laureate and physicist (formerly of Google Quantum AI)Trump’s Billion-Dollar French Boondoggle Gets Even DumberThe "Billion-Dollar Bribe" to Kill Clean EnergyThe Trump administration is paying French energy giant TotalEnergies nearly $928M to walk away from two major offshore wind projects off the coasts of New York and North Carolina. In exchange, the company has pledged to stop developing any new offshore wind in the U.S. entirely.Paying for Investments Already in ProgressCritics call the deal a "boondoggle" because the $1 billion "refund" is earmarked for natural gas and oil projects—specifically the Rio Grande LNG plant in Texas—that TotalEnergies was already heavily invested in. The article argues the government is essentially handing over taxpayer money for business moves the company was making anyway.A Tactical Pivot After Court LossesAfter the administration's previous attempts to block offshore wind were repeatedly struck down by federal judges, they’ve switched strategies. Instead of using executive orders that get tied up in court, they are now using "settlements" and "refunds" as a backdoor way to dismantle the renewable energy industry.Economic Irony During a Global Fuel CrisisThe payout comes at a time when global energy prices are spiking due to the war in the Middle East, highlighting the irony of spending $1B to kill domestic, zero-carbon wind power—which would provide long-term price stability—in favor of volatile fossil fuel markets.The "America First" Paradox<p data-rte-preserve-empty="true" style="white...
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