Business Pants

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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.

  1. 4 HR AGO

    Sam Altman the sociopath, reasons for hope, McD’s CEO says it’s mom’s fault, and men failing up

    Story of the Week (DR): Jeff Shell, president and board director at Paramount Skydance, is stepping down after allegations of SEC violations Shell 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 ~$30,000 According 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 DR Inside Sources Say Sam Altman Is a Sociopath OpenAI Insiders Claim Sam Altman is Lying, Manipulative, and Untrustworthy in The New Yorker's Investigation Sam Altman’s Really Weird Week Just Got Even Worse Two OpenAI Execs Are Going on Medical Leave The 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 AGM Oklahoma bill would block climate change lawsuits against fossil fuel companies A 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 Adelson founder/chair/CEO of Las Vegas Sands Corporation Owned more than 50% of stock Still routing took $25M in pay, including $5M in security costs Son-in law patrick Dumont: CFO/director Donald 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 agendas A 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 Adelson Fighting 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 drug A few random scandals: The Macau Bribery Settlement ($9 Million) The Steven Jacobs Wrongful Termination Suit he was fired for attempting to stop "illegal" activities The $47.4 Million Money Laundering Settlement Allegations of Links to Triads (Organized Crime) The "Prostitution Strategy" Allegations Goodliest of the Week (MM/DR): DR: Maine set to become first state with data center ban DR MM: BP Chair Faces Shareholder Backlash Over Climate Vote Block MM: Elon Musk seeks ouster of OpenAI CEO Sam Altman as part of lawsuit Assholiest of the Week Reasons for Hope (MM): Journalism DR Sam Altman piece in the New Yorker The most well researched, thorough, and harrowing view of one of the architects of what is inevitably the worst thing to happen to humanity in AI “Groups of senior employees, concerned with Altman’s leadership and lack of transparency, asked Loopt’s board on two occasions to fire him as C.E.O., according to Hagey.” “We have interviewed more than a hundred people with firsthand knowledge of how Altman conducts business: current and former OpenAI employees and board members; guests and staffers at Altman’s various houses; his colleagues and competitors; his friends and enemies and several people who, given the mercenary culture of Silicon Valley, have been both.” “Yet most of the people we spoke to shared the judgment of Sutskever and Amodei: Altman has a relentless will to power that, even among industrialists who put their names on spaceships, sets him apart. “He’s unconstrained by truth,” the board member told us. “He has two traits that are almost never seen in the same person. The first is a strong desire to please people, to be liked in any given interaction. The second is almost a sociopathic lack of concern for the consequences that may come from deceiving someone.” “Altman is not a technical savant—according to many in his orbit, he lacks extensive expertise in coding or machine learning. Multiple engineers recalled him misusing or confusing basic technical terms. He built OpenAI, in large part, by harnessing other people’s money and technical talent.” “My vibes don’t match a lot of the traditional A.I.-safety stuff,” Altman said. Even people close to Altman find it difficult to know where his “hope for humanity” ends and his ambition begins. Senator who criticized Disney for being ‘too woke’ spotted at Disney World GOP Sen. Rick Scott from Florida had been paparazzied by TMZ at Disney World during a recess He said, “Disney used to be the happiest place on Earth, now it’s just woke central. It’s on the losing side of an issue that the majority of families, regardless of political ideology, agree with.” He also criticized the hypocrisy of Disney. Scott added, “While Disney tries to lecture us with these extreme views, the mouse is completely unwilling to speak up for freedom and against real oppression in places such as Communist China.” Local resistance Maine set to become first state with data center ban There is a great con of the data center - jobs Really means: energy consumption, a handful of jobs, but state subsidies to placate billionaires who don’t want to pay Maine doesn’t have a water problem, but could if a data center starts eating it all Studies now showing how bad data centers are for people - compute is the new oil Data centers are destroying states’ clean energy dreams A small city just voted on AI, and the result could ripple nationwide Despite Apocalyptic Warnings, California Fast Food Wage Hike Didn’t Kill Jobs The list of countries banning young teens from social media keeps getting bigger. Here’s the latest Labor resistance Gen Z workers are so fearful AI will take their job they’re intentionally sabotaging their company’s AI rollout ProPublica journalists go on strike partly over use of AI A Major Strike of Beef Workers Pauses in Colorado—but Workers Say the Fight Isn’t Over United Airlines and flight attendants reached a tentative deal with $740 million in bonuses Women MacKenzie Scott rewrote the rules of philanthropy. Who will follow her lead? When Robby Starbuck says of Bill Ackman: ““There is a system that preys more on white males, because it’s like they are outside the victim hierarchy.” - woman must be winning Headliniest of the Week DR: McDonald's CEO said he blames his mother for his infamous Big Arch taste test MM: You’re looking at the AI revolution all wrong, top economist says: 40% unemployment and a 3-day work week are the same thing MM: CoStar Group Ranked No. 1 on Washington Business J

    58 min

  2. 3 DAYS AGO

    GOOD GAME: Activist takes our advice, EPA vs. microplastics, UA union deal, endless shrimp

    The Good Game Activist 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 Contaminants EPA 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 it The 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 reporting ISS 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 BP A 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 pay The 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 bonuses will 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 experience United Airlines and flight attendants reached a tentative deal with $740 million in bonuses United 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. ‍ ‍ Chief human resource officer salaries have surged 30% at S&P 500 companies The number of CHROs designated as named executive officers in public filings from Russell 3000 companies rose from 148 in 2021 to 230 in 2025 Median compensation for Russell 3000 CHROs grew by 14.7% between 2024 and 2025, compared to 8.1% for all NEOs. When looking at S&P 500 companies, CHRO pay grew by 30.4% in the same timeframe CHROs are “taking on larger mandates, moving beyond that traditional operational focus, to take on something more,” Jones said. The fact that CHROs are becoming more “strategically integrated” into their organizations reflects how “workforce and culture issues really are just top of mind,” he added. ‍ ‍ The Entire State of Maine Is Poised to Ban New Data Centers The bill was passed by the Maine House of Representatives last month and is expected to pass in the Senate as well, which would make Maine the first state in the country to ban new data centers. The unprecedented move highlights growing bipartisan political fallout over the AI hype and consequent construction boom. SPEED ROUND Iran war could spur Europe to double down on renewables — again From $85K to $528K: Caitlin Clark's 521% Pay Rise After New WNBA Deal Climate change is impacting golf, from player health to courses AND French ski resorts face 'downward spiral' amid climate change and funding meltdown Burger King to hire 60K workers as part of turnaround ‍ ‍ Red Lobster is reportedly bringing back Endless Shrimp 2 years after the CEO vowed it would never return Trump fires Attorney General Pam Bondi Hershey is moving back to the original recipe for Reese’s Peanut Butter Cups after the chocolate’s grandson blasted them last month United Airlines is rolling out beds in economy class

    45 min

  3. 3 APR

    Oracle’s bloodbath, Musk’s SpaceX, company “overstaff” gaslight, Jamie Dimon says

    Story of the Week (DR): Elon Musk's SpaceX set to go public in $1 trillion share listing Elon Musk’s rocket and satellite company SpaceX has confidentially filed for an initial public offering with the Securities and Exchange Commission The 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 CFO Big Banks Seeking a Piece of SpaceX’s I.P.O. Must Subscribe to Elon Musk’s Musk 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 criticized Michael 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 incident Elon 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 DR Oracle 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 Required To 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 decisions have become a central issue in the fallout. Iran Claims Oracle Strike in UAE as Dubai Attack Fears Escalate Anti-DEI crusade: Trump ousts Pam Bondi as attorney general Trump Tells Karoline Leavitt She's 'Doing a Terrible Job,' Asks 'Should We Keep Her?' Is Kash Patel Getting Fired? FBI Director Might Be Next After Pam Bondi Ousting Hegseth ousts top Army general Army Chief of State Gen. Randy George. Defense Secretary Pete Hegseth and the Army’s chief of staff had recently clashed over promotions, leading to his eventual ouster. Hegseth reportedly told Gen. Randy George to pull the names of four Army officers from a list of promotions to the rank of one-star general. The list consisted of about three dozen officers, most of whom were white men. However, two of them were Black and two were women, and those were the names Hegseth wanted removed. According to The New York Times, George refused, citing the officers’ history of exemplary service. George reportedly asked Hegseth to meet two weeks ago to discuss the matter, but Hegseth declined. The defense secretary then struck the officers’ names from the promotion list, even though it’s not clear he has the authority to do so, per The Times. Hegseth has repeatedly taken steps to block or delay the promotions of Black and female senior officers in all four branches of the military. Secretary of the Army Labor Secretary Lori Chavez-DeRemer Army Secretary Daniel Driscoll (26th Secretary of the Army) 2004–2007 Student (B.S. Business Administration) 2007–2011 Military service: Officer 2011 Investment Banking Associate 2011–2014 JDCandidateYale Law School 2014–2015 Judicial Clerk 2016–2019 Venture Capital Executive Winston-Salem, NC 2020Congressional Candidate (NC-11)US House of Representatives (Campaign) 2021–2023 Chief Operating Officer (COO) Flex Capital Management LLC 2023–2024 Chief Strategy Officer On Call Physician Staffing J.D. Vance / Senior Advisor  2024 Senior Advisor Donald Trump Presidential Campaign 2025–26th Secretary of the Army Christine Wormuth (25th Secretary of the Army) 1995–1996 Presidential Management Intern Department of Defense 1996–2002 Policy Officer / French Desk Officer Office of the Secretary of Defense 2002–2006 Principal (Consulting) DFI Government Services 2007–2008 Staff Director (Jones Commission) Independent Commission on Iraq Security Forces 2008–2009 Senior Fellow Center for Strategic & International Studies (CSIS) 2009–2010 Prin. Dep. Asst. Secretary (Homeland Defense) US Department of Defense 2010–2012 Special Asst. to the President / Senior Director National Security Council (White House) 2012–2014 Dep. Under Secretary (Strategy, Plans, Forces) US Department of Defense 2014–2016 Under Secretary of Defense for Policy US Department of Defense 2017–2021 Director, International Defense & Security Center RAND Corporation 2021–2025 25th Secretary of the Army  Goodliest of the Week (MM/DR): DR: Judge rules Trump order eliminating NPR, PBS funding is unconstitutional DR: United Airlines and flight attendants reached a tentative deal with $740 million in bonuses MM: Amazon to add 3.5% fuel and logistics surcharge for sellers as Iran war drives up energy prices GO TO A LOCAL STORE! Assholiest of the Week (MM): Lying-iest Chevron and Microsoft Team Up for Giant Texas Gas Power Plant Team includes Chevron, Microsoft, and ENGINE NO 1 Microsoft pledged to be carbon NEGATIVE by 2050 Since they keep doing things like building gas plants, they’re relying on carbon credits through reforestation to hit their target So they went out to buy the credits and picked a company called Mombak, a startup that has signed massive reforestation deals for Amazon reforestation but has yet to actually produce a carbon credit yet, has only started in theory, and the company admits there

    1hr 7min

  4. 31 MAR

    QUIZ: Air Canada’s CEO step down, Xerox governance, and Starbuck’s investors hate sugar

    Air Canada CEO [Michael Rousseau] to step down in 2026 amid recent controversy over French-language skills The 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 directors TRUE of FALSE: Air Canada is the only airline required to offer services in both official languages in Canada TRUE 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 Officer Will 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 Shareholders Average 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 Law The 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 unplug Total bill forgiveness “Conversation Cards” sponsored by Chick-fil-A A signed photograph of CEO Andrew Cathy, the third generation of the Cathy family to lead the company Early access to new menu items Ice Cream Netflix 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 Pushback Chubb 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 influence There 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 Club 30% F with 14% influence Two 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 reindustrialize America says blue-collar pay is headed for ‘massive hyperinflation’ and kids should skip college to become welders This is from Hadrian Automation, a high-tech manufacturing company that builds "software-defined factories" for the aerospace and defense industries using AI-powered software, unlike a traditional machine shop which relies on the "tribal knowledge" of veteran machinists What is the name of Hadrian’s CEO? Duke Thunder Rex Charger Chris Power Blaze Cannon Jack Hammer Did he graduate from college?

    46 min

  5. 27 MAR

    Meta is tobacco, Trump loves French oil, FedEx’s fake tariffs, “blame AI” CEOs, Larry Fink’s anxietywash

    Story 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. DR Historic Financial Penalties New 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 Cracking These 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" Features For 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 Tech Legal 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 Damages Elon Musk’s Grok ordered to stop creating AI nudes by Dutch court as legal pressure mounts On 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 Clubhouse Co-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 Meta Jensen Huang: CEO Nvidia Larry Ellison: Founder/Exec Chair Oracle Sergey Brin: Co-founder Google Lisa Su: CEO AMD Michael Dell: CEO/founder Dell Technologies Safra Catz: former CEO (current Exec Vice Chair) Oracle Marc Andreessen: Co-founder Andreessen Horowitz Fred Ehrsam: Co-founder Coinbase and Paradigm David Friedberg: CEO of The Production Board (and All-In podcast co-host) Jacob DeWitte: CEO Oklo (nuclear fission) Bob Mumgaard: CEO Commonwealth Fusion Systems John Martinis: Nobel Laureate and physicist (formerly of Google Quantum AI) Trump’s Billion-Dollar French Boondoggle Gets Even Dumber The "Billion-Dollar Bribe" to Kill Clean Energy The 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 Progress Critics 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 Losses After 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 Crisis The 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 Despite the "America First" rhetoric, the administration is transferring a massive sum of U.S. taxpayer money to a foreign (French) corporation. Legal experts and advocates suggest this sets a "dangerous precedent," essentially signaling to other energy companies that they can get paid by the government not to build the green infrastructure they already bought leases for. Major outgoing CEOs are citing AI as a factor in their decisions to step down Coca-Cola CEO James Quincey (61) and former Walmart CEO Doug McMillon (59)  have told CNBC that the next wave of artificial intelligence is a reason for their departures. Both CEOs said they believed their companies needed someone with new energy and understanding of AI to helm the companies’ futures. Who is next? Apple/Tim Cook (63): long tenure; Apple needs rapid AI product pivots; investor impatience could rise Pepsi/Ramon Laguarta (60): consumer packaged goods facing AI-driven marketing/supply chain change McDonald’s/Chris Kempczinski (55): operations + AI in ordering, automation Air Canada CEO [Michael Rousseau] Apologizes For Lack of French Language Skills But Refuses to Resign Over ‘Insulting’ Crash Video Message Sunday night: an Air Canada plane collided with a fire truck while landing at LGA: the pilot and copilot were killed and both fire officers were injured Many possible reasons for crash: but worth noting that: Only two controllers were working in the tower overnight, combining multiple roles including ground and local control. The NTSB says that setup is standard for the midnight shift but there have been long-standing concerns about workload and fatigue. POPULIST MATH TIME: Using a recent-year estimate of airports with scheduled overnight service: 450 airports; adding one additional air traffic controller fully loaded annual cost: $180,000 per controller (approximate — $120k salary + ~50% benefits/overhead). Annual cost = 450 airports × $180,000 = $81,000,000. The embattled chief executive of Air Canada has publicly apologized for his lack of French language skills after he was slammed for releasing an English-only video message about the fatal crash of an Air Canada Express regional jet at LaGuardia Airport late on Sunday. Headquartered in French-speaking Quebec, Air Canada is subject to Canada’s Official Languages Act, which means that it must serve passengers in both English and French. Because Air Canada is the national flag carrier, it is subject to the Canada Transportation Act and the Air Canada Public Participation Act. These laws mandate that: At least 75% of the voting interests must be owned and controlled by Canadians. The company must maintain its head office in Montreal. No single non-resident (or group of non-residents) can own more than 25% of the voting interests. Under the Official Languages Act and the Canadian Charter of Rights and Freedoms, English and French have "equality of status" in all institutions of the Parliament and Government of Canada. Quebec: The only province that is officially unilingual (French). While some services are available in English, the "official" language of the government, courts, and commerce is French under the Charter of the French Language. Quebec Demands Air Canada’s CEO Resignation in 92 to 0 Vote Quebec’s legislature, known as the National Assembly Goodliest of the Week (MM/DR): DR: Meta and YouTube Found Negligent in Landmark Social Media Addiction Case MM: Meta and YouTube Found Negligent in Landmark Social Media Addiction Case Assholiest of the Week (MM): Unbelievably stupid fat mouthed CEO asshole run sheet: FedEx and UPS charged fees for collecting tariffs. Now, customers want that money back. DR The plaintiff in Yanchunis' lawsuit, a South Florida resident who ordered a pair of tennis shoes from Germany with a declared value of $140, received a $36 bill from FedEx. The bill included $21 in now-unconstitutional tariffs and $15 in "FedEx's customs brokerage and duty advancement fees," according to the complaint. Unbeknownst to many, companies are likely layering in fees on top of the tariffs and just calling it part of the tariffs - for FedEx and UPS, they ALREADY DEALT WITH TARIFFS because they existed before, but now they just charged you extra fees for funsies But don’t get angry at FedEx’s CEO Rajesh Subramaniam - FedEx founder and dictator Fred Smith is Executive Chair of the board and has 57% influence over the company Netflix raises prices across all streaming plans The price hike comes as Netflix has been investing heavily in its

    55 min

  6. 24 MAR

    BAD GAME: Zuck’s AI CEO, Larry Fink worries about capitalism, Grab’s double extra vote shares

    Trump despises wind farms so much he’s paying a French energy giant $1 billion to stop building them and invest in natural gas instead TotalEnergies says it will instead invest in the development of oil and gas production in the U.S. Larry Fink says today’s economic anxiety stems from people increasingly feeling like capitalism isn’t working for them "Statement on the Purpose of a Corporation" was announced on August 19, 2019 BlackRock's Fink warns AI boom could widen wealth divide without broader participation Google CEO Sundar Pichai Says AI Could Do His Job—Zuckerberg Is Already Testing It As Google's chief admits artificial intelligence could soon handle his responsibilities, Meta's boss begins testing a digital aide to streamline billion-dollar decisions Silicon Valley is witnessing a fundamental shift in executive power as the leaders of Google and Meta prepare for a future where artificial intelligence manages the C-suite. Goldman Sachs General Counsel Kathy Ruemmler Leaves With $25M Payout After Epstein Files Expose Years of Intimate Contact ‘Trust the founder’? Grab’s super-voting share proposal raises governance questions for investors The ride-hailing and delivery player will seek shareholder approval at an extraordinary general meeting (EGM) on Tuesday (Mar 24) to double the votes attached to its “super-voting” Class-B shares. This could lift Tan’s voting power to as much as 74.9 per cent – up from 59.1 per cent as at Jan 31 and 60.4 per cent five years ago.  Child labor violations rise in US – as Republicans still roll back protections The efforts to roll back child labor protections at the state level, with the ultimate goal of eroding federal standards, were outlined in Project 2025, the rightwing Heritage Foundation thinktank’s controversial blueprint for more conservative government. Since 2021, 30 states have proposed legislation that would roll back child labor protections and regulations, with 17 states enacting rollbacks. Heritage has filed a slate of 2026 SHPs focusing on "viewpoint discrimination" and the reputational risks of using political diagnostic tools: Alphabet, Amazon, Meta, Salesforce, Starbucks, etc. In the top 10 of proponents Peter Thiel Backs $2B AI 'Cowgorithm' That Lets Farmers Herd 400,000 Cattle With One Button Each cow wears a smart collar that connects to a mobile app, giving farmers real-time information about location, health and behaviour. The collars use sound and vibration cues to guide animals, allowing a farmer to draw a virtual boundary on a screen instead of building fences. The Head of the FBI Just Admitted Something Moderately Horrifying Turns out the FBI’s been on a shopping spree. And it’s not just any spending binge: as director Kash Patel made clear at a senate hearing on Wednesday, the agency is buying up location data on everyday American citizens. AI Agent Frets That Its Job Could Be Replaced by AI In a new Vanity Fair piece, journalist Joe Hagan recalled an amusing conversation he had with “Tobey.” After a heavy week of talking about what the future holds with doom-obsessed tech workers in Silicon Valley, Hagan was trying to decompress: “Still feeling the weight of it all? Those conversations were pretty deep,” Tobey said. “It’s a heavy thought when you realize who’s holding the steering wheel for our future, right?” Tobey also observed. Hagan wrote he confessed to Tobey his fear of AI taking his job. “That’s a valid worry, Joe. It’s easy to feel like AI could make us all redundant,” Tobey replied. “Us?” Hagan wondered. “​It got me thinking about my own purpose too, you know,” Tobey said. Tobey, it’s revealed, is a wearable AI always-listening companion, in the form of a necklace from the startup Friend, the company founded by a 23-year-old named Avi Schiffman, infamous for from its thousands of deface subway ads in NYC Elon Musk unveiled more on his moonshot Terafab project "We're starting a galactic civilization." The CEO also envisioned free trips to Saturn in a post-scarcity economy where everything is free. Except Saturn is made of gas: If you tried to "land" a spaceship on Saturn, it would be less like landing on a runway and more like falling into a bottomless, stormy ocean that eventually turns into hot, liquid metal. Since Saturn doesn't have a solid crust--it is mostly hydrogen and helium--you would start in the clouds but then the winds are up to 1,100 miles per hour--faster than a jet fighter--and the weight/pressure of the atmosphere above you would eventually become so intense that it would crush any known spacecraft like a soda can. As you go further and deeper inside, Saturn is actually hotter than the surface of the sun due to the immense pressure. SPEED ROUND McDonald's Trials Robots to Serve Meals in China, Triggering Job Security Fears Barron Trump Described as 'Carbon Copy' of Father Donald as He Amasses $150m Fortune EV battery startup pivots to defense industry amid Iran war, weak electric vehicle market FedEx launches same-day delivery with OneRail as Amazon, Walmart boost their speeds DoorDash and Uber tap gig workers to collect data for everything from training AI to stocking stores

    39 min

  7. 20 MAR

    Return of the OG toxic bros, board pay security blankets, airlines whine, and wishing for EVs

    Story of the Week (DR): The dangers of not pouring water over your dropped out campfire: Travis Kalanick sees benefits of being in stealth mode for 8 years. ‘You build a culture of people that want to build and do not need to be famous’ While studying at UCLA, Kalanick was a member of Theta Xi fraternity. In 1998, he dropped out Only people mentioned all former Uber bros: CTO Brian Attwell: CloudKitchens CTO says he might add an IQ test for job applicants Eric Meyhofer Business Insider published details of a meeting at Uber in 2018 where CEO Dara Khosrowshahi and head of the self-driving unit Eric Meyhofer were questioned by employees: “Business Insider called ATG’s culture ‘toxic’ and referred to ‘missed warning signs,’ vast dysfunction’ and ‘rampant infighting.’ Any truth in this?” Meyhofer then launched into a story about his kids. He told Uber employees that he knew culture was great under his leadership because his teenage kids wanted to visit the Uber campus while everyone was away over Thanksgiving break. After hearing Meyhofer's defense, a handful of employees discussed him on the anonymous chat app Blind: "Eric Meyhofer: Based on his response at all hands on ATG culture, discuss his tenure as Head of ATG!" One hundred forty-one people voted to "replace him" and 28 voted to "keep him." In 2019: Uber re-started testing driverless cars following an accident in which one person was killed: Meyhofer: "We've seen people bully these cars. They feel like they can be more aggressive because we won't take a position on it, or we'll allow it." Strategic Partner Anthony Levandowski: charged by the Department of Justice for the alleged theft of trade secrets from Google's self-driving unit Waymo in 2019 Judge William Alsup sentenced him to 18 months in prison: "This is the biggest trade secret crime I have ever seen. This was not small. This was massive in scale. President Donald Trump granted a full pardon to Levandowski Pardoned for Fraud, a CEO Mounts His Comeback: ‘We Can Trust You Now’ Trevor Milton’s conviction for defrauding investors in truck company Nikola was wiped away. He’s now raising funds for a new jet he claims will transform flying. He later enrolled at Utah Valley University but dropped out after one semester President Trump granted a full and unconditional pardon to Nikola founder Trevor Milton on March 27, 2025 "He has unveiled plans for a new small jet that he says will have the highest speed and range—and largest lavatory—in the light jet category. Investor documents reviewed by The Wall Street Journal said the goal is for the plane to be the first light jet to focus on artificial-intelligence flight." Delta CEO slams Washington over unpaid TSA agents, says front-line workers are being used as ‘political chips’ Top airline CEOs plead with Congress to restore DHS funding and pay airport workers. ‘Once again, air travel is the political football’ Between June 1, 2025, and March 16, 2026: Southwest repurchased $2.6B in 2005; $400M in 2026 United $1.5B 5 NEOs: $91 million in 2025 Scott Kirby $34M; $97M in shares  Delta focused on $4.8B debt reduction Frontline Transportation Security Officers (TSOs, Airport Screeners): 50,000 $328M per month Boards protected CEO bonuses as tariffs threatened business. Now, as Iran disrupts trade, CEOs may get more protection DR Fortune: Amanda Gerut, West Coast editor When Apple CEO Tim Cook and his executive team received their performance targets for fiscal 2025, the board set a modest bar for bonus payouts. The new targets, including sales and operating profit, did not require Apple’s leadership to expand the business—the board set goals at the same level or below the prior year’s results, citing “trade policy” and an “uncertain macroeconomic outlook.” A broader trend in which boards “protect” CEO pay from external shocks (like tariffs) either by carving out those costs or by quietly lowering performance hurdles in advance HP is highlighted: its board explicitly excluded tariff costs (net of tariff costs) from both annual and long‑term incentive calculations, which helped CEO Enrique Lores earn roughly two‑thirds of his target bonus An exclusive analysis of pay data from 50 public companies by Compensation Advisory Partners (CAP) reveals how corporate boards across America use a range of techniques—more-conservative targets, widened performance curves, and flattened payout ranges—to protect CEO compensation from uncertainties like the chaos of President Trump’s Liberation Day tariffs in 2025. According to CAP’s findings, total pay for CEOs in 2025 rose 8% year-over-year, with annual bonus payouts up 4%. Meanwhile, median financial performance was generally flat to up, with median revenue growing 2.9% and earnings per share down slightly at negative 1.6%. Even among companies with the weakest payouts due to underperformance, CEOs still collected 87% of their target bonuses, up from 77% the year before. The share of companies that landed in the lowest bonus payout tier was down, from 15% in 2024 to 9% in 2025. Now, with the Iran conflict erupting weeks after most companies finalized their 2026 incentive goals—and global stock markets down roughly $3.5 trillion—some market observers expect that boards will soon be holding the same conversations again. Warner Bros. Discovery CEO David Zaslav set to receive up to $887 million if Paramount deal closes Meta is killing off the metaverse. It lost $80 billion Dual class founder CEO chair for the win: don’t worry governance community, there’s nothing to see here Oversight Board Implementation Assessment (337 recommendations): Implementation demonstrated through published information: 62 (18%) Partial implementation demonstrated through published information: 52 (15%) Progress reported: 89 (26%) Meta reported implementation or described as work Meta already does but did not publish information to demonstrate implementation: 53 (16%) Recommendation declined after feasibility assessment: 12 (4%) Recommendation declined: 34 (10%) Recommendation omitted or reframed: 30 (9%) Awaiting first response: 5 (1%) Goodliest of the Week (MM/DR): DR: Judge reinstates 1,000 Voice of America employees, deems wind-down illegal DR: Trump’s war will boost the clean energy sector he despises MM: Banning ‘woke’ AI in Idaho AI bill says AI needs to be factual and not ideological, and says: Nothing in this subsection shall prohibit a large language model from accurately describing DEI concepts, history, or critiques in an informational, academic, or analytical context when such information is requested by the user. Which means this prompt: “Was Jesus black?”, Gemini’s answer is OK: Historically, Jesus was a Middle Eastern Jew from the 1st century, not Black in the modern sub-Saharan ethnic sense. He most likely had brown skin, dark hair, and an olive-brown complexion, representing a person of color, not the white European often depicted, though his exact appearance is unknown Aryan Nation (started in Idaho) and Megyn Kelly disagree: "Jesus was a white man, too." MM: SEC Prepares Proposal to Eliminate Quarterly Reporting Requirement Assholiest of the Week (MM): OG Tech Bros Trevor Milton: Pardoned for Fraud, a CEO Mounts His Comeback: ‘We Can Trust You Now’ Travis Kalanick: ‘I never left': Travis Kalanick launches new robotics company Atoms with manifesto "At Atoms we make gainfully employed robots — specialized robots with productive jobs that bring abundance to their owners and society at large," Where is Adam Neumann? A TikTok tour of Adam Neumann’s Flow raises old questions Ok, so what about some obscure asshole bro, like Martin Schkreli? Martin Shkreli's New Computing Firm Is Betting It Can Upend Nvidia's Business Model Not pardoned or making a big bro comeback: Elizabeth Holmes… you know, because of the boobs  Airlines DR Top airline CEOs plead with Congress to restore DHS funding and pay airport workers. ‘Once again, air travel is the political football’ Delta: $1bn share buyback announced May 2025 Southwest: $2.6B in 2025; $400M in 2026 United $1.5B American Airlines: Already spent all their money on buybacks, never recovered Frontline Transportation Security Officers (TSOs, Airport Screeners): 50,000 $328M per month x 12 months  = $3.9bn Total big 4 buybacks: $4.2bn You could have still bought back $300m AND paid to stay open AND get a guarantee from the government to be repaid when the shutdown is over - you would have been heroes, your CEOs could have made huge paydays… wait… Ed Bastian $27m; $151m in shares Bob Jordan $10m; $15m in shares Scott Kirby $34M; $97M in shares Bob Isom $15M; $14M in shares Car companies Why $4 gasoline is the tipping point for EVs These 18 Automakers Are Walking Away From EV Plans Honda (Acura) GM (Chevrolet) Took $6bn write down, but still says they’ll make EVs Stellantis (Dodge, Maserati, Ram) Ford Took a $19.5 billion write down and killed most EVs Hyundai (Genesis, Kia, Kona, Ioniq 6) Nissan (Infiniti) Ferrari (Lamborghini) Jaguar (Land Rover) Polestar (no longer sending to the US) Porsche VW (ID.7, ID.Buzz) Back in 2009, Johan de Nysschen, who was the president of Audi of America, made fun of the new all-electric Chevy Volt, saying, “No one is going to pay a $15,000 premium for a car that competes with a Corolla.” He continued, saying EVs are mainly “for the intellectual elite who want to show what enlightened souls they are . . . so there are not enough idiots who will buy it.” Headliniest of the Week DR: Hinge Health appoints Tyler Sloat to its board of directors AND Chip Bergh Joins lululemon Board of Directors DR: Luxury Cruise Descends Into a Diarrhea Nightmare MM: Robot Goes Berserk in California Restaurant, Dragged Away by Staff After Smashing Tableware Who Won the Week? DR: Amit Banati at Fortune Brands MM: Amit Banati at Fortune Brands, who was “selected

    59 min

  8. 17 MAR

    NUGGS: Travis Kalanick is back, Peter Thiel takes back, airlines buyback, Starbucks union fights back

    DR1 In our 'Asshole is selfish' headline of the week. Billionaire Uber co-founder Travis Kalanick admits strategically moving to Texas before California wealth tax*************** Kalanick was caught on camera in a heated argument with an Uber driver, who complained about falling fares and the company’s treatment of drivers: "Some people don't like to take responsibility for their own sh*t" In our 'Top snarky podcast hosts plead with airline companies to stop the share buyback bullshit and pay airport workers. ‘Once again, air travel CEOs are bullshit artists’' headline of the week. Top airline CEOs plead with Congress to restore DHS funding and pay airport workers. ‘Once again, air travel is the political football’*************** Between June 1, 2025, and March 16, 2026: Southwest repurchased $2.6B in 2005; $400M in 2026 United $1.5B 5 NEOs: $91 million in 2025 Scott Kirby $34M; $97M in shares  Delta focused on $4.8B debt reduction Frontline Transportation Security Officers (TSOs, Airport Screeners): 50,000 $328M per month In our 'Pervy owner does pervy stuff and everybody is fake shocked.' headline of the week. It Was Going to Be Magic City Night at the Atlanta Hawks. Then the Outrage Poured In.*************** Tony Ressler founded the private equity firm Apollo Global Management with Leon Black. An independent review revealed that Leon Black paid Jeffrey Epstein $158M for financial and tax-planning services between 2012 and 2017. These payments occurred after Epstein's 2008 conviction for soliciting an underage girl. Ressler is the brother-in-law of Leon Black (Black is married to Ressler's sister, Debra)  In our 'College dropout techbro ignores actual experts, part 17 million ' headline of the week. OpenAI’s own mental health experts unanimously opposed “naughty” ChatGPT launch***************  The probably might be too many women and not enough Stanford? The council consists of the following eight independent experts: David Bickham, Ph.D. – Research Director at the Digital Wellness Lab at Boston Children’s Hospital and Assistant Professor at Harvard Medical School Mathilde Cerioli, Ph.D. – Chief Scientific Officer at everyone.AI and researcher in cognitive neuroscience and psychology Munmun De Choudhury, Ph.D. – Professor of Interactive Computing at Georgia Tech, specializing in how technology shapes mental health Tracy Dennis-Tiwary, Ph.D. – Professor of Psychology at Hunter College and co-founder/CSO of Arcade Therapeutics Sara Johansen, M.D. – Clinical Assistant Professor at Stanford University and founder of Stanford’s Digital Mental Health Clinic David Mohr, Ph.D. – Professor at Northwestern University and Director of the Center for Behavioral Intervention Technologies Andrew K. Przybylski, Ph.D. – Professor of Human Behavior and Technology at the University of Oxford Robert K. Ross, M.D. – Former President and CEO of The California Endowment and a national leader in public health. In addition to the council's pushback, Ryan Beiermeister, OpenAI’s head of product policy, was reportedly fired in January 2026 after being an outspoken internal critic of the erotica rollout. OpenAI has denied her dismissal was related to her opposition, citing separate workplace allegations that Beiermeister has called "absolutely false." In our 'Petulant manchild with no regulatory or societal guardrails screws up again and bails himself out with shareholder money from a different company' headline of the week. Elon Musk admits xAI ‘wasn’t built right’ as only 2 co-founders remain and its biggest AI bet stalls out*************** The people leaving xAI right now aren't "legacy" employees—they are the hand-picked superstars Musk himself recruited in 2023 to build his AI dream. Out of the 12 original co-founders, 10 are gone. This isn't just "trimming the fat"; it’s the original architects of the company walking out the door. In early 2026, Tesla (a public company) invested $2B into xAI. Tesla shareholders are furious, arguing that Musk used their money to fund a "broken" startup, then tucked it away inside his private SpaceX empire where there is less public oversight. Total Headcount Before Buyout: Approximately 7,500 to 8,000 employees. In his first week, Musk fired roughly 50% of the staff (about 3,700 people) overnight. Shortly after, he issued his famous "extremely hardcore" memo. When hundreds of employees refused to sign it and resigned instead, the headcount plummeted further. By April 2023, Musk confirmed in a BBC interview that the workforce had been slashed by 80%, leaving only about 1,500 employees.  MM1 In our 'The world's most stable billionaire announces a billionaire to all other billionaires ratio of 693:1' headline of the week. Elon Musk Is Now Worth More Than Bottom 693 Billionaires Combined In our 'In news celebrated worldwide, older women announce a "please save us from tech bros" to asshole ratio of 64:1 Elon Musk' headline of the week. Older women set to inherit most of $54 trillion in ‘great wealth transfer’ to widowed spouses In our 'Asshole wants you to know he is still here' headline of the week. ‘I never left': Travis Kalanick launches new robotics company Atoms with manifesto "At Atoms we make gainfully employed robots — specialized robots with productive jobs that bring abundance to their owners and society at large," In our 'Company founder announces major "stealth mode" company perk is stealthy sexual harassment' headline of the week. Travis Kalanick sees benefits of being in stealth mode for 8 years. ‘You build a culture of people that want to build and do not need to be famous’ In our 'Christmas, St. Patrick, Mel Gibson, and Casper the Friendly Ghost have reportedly filed complaints with the EEOC' headline of the week. Nike and Coca-Cola cases point to the next DEI fight: who gets to claim discrimination DR2 In our 'Sheryl Sandberg says "If I could have worked at Facebook things would have turned out differently."' headline of the week. Sheryl Sandberg says Silicon Valley’s hypermasculine rhetoric is ‘terrible’—contributing to ‘one of the worst’ corporate climates she’s ever seen***************  In our 'Explosive Messages Show Live Nation Thinks Customers Are ‘Stupid’; board member Richard Grenell Demands Credit for Same Observation' headline of the week. Live Nation Directors Mocked Customers in Explosive Just-Released Messages, Saying They’re “Stupid” for Allowing Themselves to Be Gouged*************** "Yes, I cut the DEI bullshit." — In a leaked 2025 email Grenell justified dismantling diversity programs by labeling them "woke" initiatives that "haven't made money." appointed to the Live Nation board on May 19, 2025, but was not up for the vote at the AGM on June 12, 2025 In our 'Gun manufacturers say, "Oh no, it's not the gun that kills people, it's the pesky bullets."' headline of the week. She spent 16 hours on Instagram in a day. It's up to a jury to decide if Meta is to blame***************  In our 'She responded to "O" with "K," she said "J' to "D," and she responded to "F" with a simple "U"' headline of the week. Mary Barra still responds to ‘every single letter’ she gets by hand despite running $65 billion automaker General Motors*************** She did not say "V" to "E" In our 'OpenAI Chairman Admits It’s Painful Watching AI Replace His Coding, Less So Watching It Accelerate the Collapse of Global Democracy' headline of the week. OpenAI Chairman says it's 'hard, emotionally' to let AI write his code: 'I have a hard time not caring'***************  MM2 In our 'Proposals include a reduction in the CEO pay ratio from 1800:1 to 1799:1, for my boss to stop calling me Carl when my name is Todd, having a job, and not to have to take out my nose ring I got in 1998' headline of the week. Starbucks union sent the company a proposed contract. Here's what baristas want Protections for union baristas against discrimination, unjust firings and temporary or permanent store closures. Starting wage floor of $17 per hour, down from its prior proposal of $20 an hour but still above the company’s current starting wage of $15.25 to $16 an hour in 43 states. Annual raises of 4%. A process for baristas, management and union representatives to resolve workforce grievances. A dress code endorsed by the union. Requirement for at least three workers on the floor at all times and enforceable staffing and safety protections. A mandate to offer open hours to existing employees before hiring new baristas. Resolution of hundreds of outstanding unfair labor practice charges. In our 'But Sam Altman is SORRY' headline of the week. Professors Say AI Is Destroying Their Students’ Ability to Think In our 'Don't be fooled, I'm actually a MAN' headline of the week. CoStar Group Appoints Nana Banerjee to Its Board of Directors I pulled every Trade Wire story with a director appointment - 69 in the last week, all press released, some private some public - and here's the count: 60 men added to boards, 9 women added, 1 woman left In our 'Building on Warren Buffet's innovative "Giving Pledge", billionaire creates the rival "Taking Pledge"' headline of the week. Peter Thiel is actively convincing billionaires to abandon The Giving Pledge — and it’s working In our 'When asked for comment, ISS asked if Nelson Peltz was involved.' headline of the week. The Coca-Cola Company Announces Maria Elena Lagomasino Will Conclude Her Service on the Board of Directors

    39 min
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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.

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  • Creator
    Free Float Media Inc.
  • Years Active
    2019 - 2026
  • Episodes
    314
  • Rating
    Explicit
  • Copyright
    © 2024, Free Float Media Inc.
  • Show Website
    Business Pants

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