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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.

2024, Free Float Media Inc. Economía Finanzas Personales Política y Gobierno
Episodios
  • Zaslav’s payday, Tesla’s robotaxi test, AI cash burn “for humanity”, tech boys love defense spending

    Zaslav’s payday, Tesla’s robotaxi test, AI cash burn “for humanity”, tech boys love defense spending
    Jun 20 2025
    Story of the Week (DR):Warner Bros. Discovery Reworks CEO Pay, Reducing David Zaslav’s Massive Compensation DRDavid Zaslav will take a pay cut after Warner Bros. Discovery splits up—with a big hit to his bonusDavid Zaslav Is Getting a Pay CutWarner Bros to significantly slash CEO David Zaslav’s pay packageWarner Bros Discovery CEO David Zaslav Pay to Drop After Company SplitDavid Zaslav’s Pay To Be “Substantially” Lowered Ahead Of Split, WBD Says, But CEO Will Still Reap RewardsIf Zaslav hits 100% of his operational and financial goals in the first year after the split, his target pay will be $16.5mn, compared with $37mn in the current contract. If he hits 200% of the targets, it will be as high as $30mn, the company said on Monday.However, the bulk of Zaslav’s future pay will be based on stock options after shareholders rebuked a model based on free cash flow generation.The securities filing made late on Monday said the beleaguered media boss would receive about 24mn in WBD shares that could be purchased for the current $10.16 price.If the share price were to double, the package could eventually be worth nearly $250mn.Two weeks after 60% of Warner Bros. Discovery shareholders rejected CEO David Zaslav’s $52M pay plan, the Compensation Committee restructured his plan using Hollywood’s latest CGI, special effects, and most seasoned stunt doubles: his new plan reduces his annual pay targets significantly–from $37M to $17M if he hits 100% of his targets–but the devil is in the details as he is eligible for $37M if he reaches 200% of his targets and is getting a massive option grant of 21 million shares at an extremely low strike price of around $10 per share, giving him the theoretical opportunity to make $1.4B if Warner Brothers’ share price regains its 2021 high of $77.Boeing’s longest-tenured director Lynn Good joins the Board of Morgan Stanley just two days after the crash of a Boeing 787 Dreamliner in India killed more than 200 people.Airbnb CEO Brian Chesky says his company is a 'convenient scapegoat' as European cities protest overtourism“In Barcelona, housing prices rose 60% over the past decade, but Airbnb listings actually decreased. So we can't be the culprits.”Corporate Italy lacks female CEOs, stock exchange head warnsClaudia Parzani, the head of Milan’s stock exchange: Italy lacks women in position of leadership and that’s a cultural issue that the business community needs to fix: “Last year we probably reached the lowest level of female CEOs leading listed companies at Milan’s Stock Exchange.” Of course the article provided no data.Australia's highest-paid CEOs revealed — and the one woman on the listShemara Wikramanayake, the only woman in the top 20, made $30 million as CEO of Macquarie Group.Goodliest of the Week (MM/DR):DR: What Is a ‘Fridge Cigarette’? A New Term for Diet Coke Gains Traction. MM DR MM: Lawyers Just Discovered Something About Meta's AI That Could Cost Zuckerberg Untold Billions of DollarsIt spits out large portions of books verbatimMM: Disturbing Test Shows What Happens When Tesla Robotaxi Sees a Child Mannequin Pop Out From Behind a School BusAssholiest of the Week (MM): Musk’s xAI Burns Through $1 Billion a Month as Costs Pile Up DRxAI: $12bn/yr burnWe build AI specifically to advance human comprehension and capabilities.Musk says SpaceX vision for Mars will save humanity as he continues to push human extinction fearsOpenAI: $5bn/yr burnOpenAI is an AI research and deployment company. Our mission is to ensure that artificial general intelligence benefits all of humanity.Anthropic: $3bn/yr burnWe strive to make decisions that maximize positive outcomes for humanity in the long run.Act for the global good.Low end estimate to end world hunger per year: $7bnWorld Bank estimate for clean water for all humanity: $150bn/yearNumber of US households without water access: 19mCompliance costs for Clean Air Act: $65bn/yrAnd the great AI investment is getting us…Lowe's CEO says young workers should stay away from the corporate office and close to the cash register"AI isn't going to fix a hole in your roof," Lowe's CEO Marvin Ellison said. "It's not going to respond to an electrical issue in your home. It's not going to stop your water heater from leaking."Amazon CEO tells employees to expect cuts to white-collar jobs because of AIAs ChatGPT Linked to Mental Health Breakdowns, Mattel Announces Plans to Incorporate It Into Children's ToysSeems like, like all tech bro toys, they start with “good of humanity” and end with “rich”Dario Amodei net worth: 1.2bnMusk net worth: 406bnAltman net worth: 1.8bnSpotify’s Daniel Ek leads $694 million investment in defense startup Helsing DRPalantir, Meta, OpenAI execs to commission into Army reserve, form ‘Detachment 201’OpenAI wins $200 million U.S. defense contractSpeaking of tech bro middle school manbabies… ever notice how when they’re done building their “innocent” ...
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    1 h y 3 m
  • Kraft de-dyes, Zaslav’s fake pay drop, Amazon’s hour of SAF, Whirlpool finds a woman

    Kraft de-dyes, Zaslav’s fake pay drop, Amazon’s hour of SAF, Whirlpool finds a woman
    Jun 17 2025
    TraditionalKraft Heinz to remove artificial dyes from U.S. products by end of 2027 SEC Drops Proposed Anti-Greenwashing Fund Disclosure RulesInitially launched by the SEC in 2022, the proposed “Enhanced Disclosures by Certain Investment Advisers and Investment Companies About Environmental, Social, and Governance Investment Practices” rule was designed by the Commission to address the lack of clear rules communicating the ESG attributes of an increasing number of funds marketing themselves using terms such as “green” or “sustainable.”At the time, the Commission said that the lack of consistent and comparable data “makes it difficult for investors to make better informed investment decisions that are in line with their ESG investment goals,” and “may lead to potential greenwashing.”Peru’s Climate Education Revolution: A Blueprint for Global ActionOn World Environment Day 2025, the Government of Peru launched a national initiative to embed climate and environmental education into the country’s school system.This move sets an example for the rest of the world and shows how education can and should be a central part of a country’s climate strategyPresident Dina Ercilia Boluarte led the announcement of a formal agreement between the Ministry of the Environment (MINAM) and the Ministry of Education (MINEDU).Warner Bros. Discovery Reworks CEO Pay, Reducing David Zaslav’s Massive CompensationIf Zaslav hits 100% of his operational and financial goals in the first year after the split, his target pay will be $16.5mn, compared with $37mn in the current contract. If he hits 200% of the targets, it will be as high as $30mn, the company said on Monday.However, the bulk of Zaslav’s future pay will be based on stock options after shareholders rebuked a model based on free cash flow generation.The securities filing made late on Monday said the beleaguered media boss would receive about 24mn in WBD shares that could be purchased for the current $10.16 price.If the share price were to double, the package could eventually be worth nearly $250mn.Bank unveils green loans plan to unlock trillions for climate finance An innovative plan to use public money to back renewable energy loans in the developing world could liberate cash from the private sector for urgently needed climate finance.The Inter-American Development Bank (IADB), who developed the proposals, believes the plan could drive tens of billions of new investment in the fledgling green economy in poorer countries within a few years, and could provide the bulk of the $1.3tn in annual climate finance promised to the developing world by 2035.Amazon Buys More than 9 Million Liters of Sustainable Aviation Fuel for Cargo FlightsVenice locals protesting Jeff Bezos and Lauren Sánchez's wedding: 'No space for Bezos'Rate the New Woke/DEI Hire:MI6 Names Its First Female Chief, Career Spy Blaise Metrewelifirst woman to lead Britain’s foreign intelligence service in the agency’s 116-year history "C"; most recently the director general of technology and innovation "Q"Whirlpool Corporation Welcomes Judith Buckner to Board of Directorsonly 4th woman on 13-member board with -12% gender influence gap; President of Reynolds Cooking & Baking; other leadership roles including Director of Manufacturing, Plant Manager, Director of Engineering and New Product Development and Vice President of Operations and Engineering. Degree in Chemical Engineering; Whirlpool board knowledge dominated (27%) by Economics and AccountingLynn Good Elected to Morgan Stanley Board of Directorslongest-tenured Boeing director (2015-)Rate How “Good” the Headline Is Speed Round: Trump's $499 smartphone will likely be made in ChinaThe Trump Organization’s newly-announced smartphone will likely be made in China, experts say, despite claims that the device will be manufactured in the U.S.Her Boss Has Been Spelling The Company Name Wrong For Over A Year, So She Anonymously Reports Him To The Board Of DirectorsGeneral Mills CEO Harmening: ‘We don’t sell Cheerios in the morning and then think about sustainability in the afternoon’Companies Bragging About Their AI Furious as Job Applicants Use AI During InterviewsFu Yu’s independent directors resign, leaving CEO as only one on boardFinally, rate how good this should/could be for Free Float Analytics:Half of company directors think their board is of no value to the businessAlmost half (46 percent) of company directors in the US and UK think their boards do not add enough value to their organisation, according to the Board Value Index from Board Intelligence. The Board Value Index is based on responses from more than 200 executive and non-executive directors from companies with over $50 million in turnover across the UK and US. Almost a third (31 percent) of directors surveyed said that their board adds no value at all, with half of that group believing their board is actively holding their organisation back.
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    43 m
  • Boeing crash, Starbucks discovers people, Texas bans Texas, everyone’s a coward (except Hulk Hogan)

    Boeing crash, Starbucks discovers people, Texas bans Texas, everyone’s a coward (except Hulk Hogan)
    Jun 13 2025
    Story of the Week (DR):Boeing Crash in India Is First Fatal Incident Involving a 787 Jet: Tragedy threatens to throw plane maker’s fragile recovery into question MMBoeing stock slides after Air India 787 Dreamliner crashesAI Overviews hallucinates that Airbus, not Boeing, involved in fatal Air India crash One of the Dreamliners That Gave a Boeing Manager Nightmares Just CrashedWhistleblowers always warned that passengers would pay a price for Boeing’s tyrannical corner-cutting, especially with the planes shipped overseas.Starbucks accelerates new staffing model to all company-owned North American storesStarbucks has launched its biggest hiring spree in history — aimed at finally tackling the number one gripe from frustrated customers. The recruitment blitz— adding as many as 85,000 workers across its 17,000 US locations — is a bold move aimed at slashing long wait times.CEO Brian Niccol, speaking to 14,000 store managers at a Las Vegas event on Wednesday, called it 'the biggest human capital investment in connection in the history of Starbucks.' Five years ago, Starbucks stores averaged 23 employees. Cost-cutting has since trimmed that number down to 18 to 19 — four to five fewer workers per location.Howard Schultz says he ‘did a cartwheel' when Starbucks CEO Niccol coined ‘back to Starbucks' strategyNETFLIX: 78% NO Jay Hoag“In accordance with the Company’s director resignation policy, Mr. Hoag offered his resignation from the Board, conditioned upon Board acceptance. The Nominating and Governance Committee will consider Mr. Hoag’s resignation and recommend to the Board regarding whether to accept or reject the resignation or take other action.”Jay Hoag chairs the Nomination CommitteeThe Nominating and Governance Committee met two times in 2024. Each member attended all the Nominating and Governance Committee meetings held in 2024, other than Mr. Hoag who did not attend one meeting.2024: 9% NO; 2023: 23% NO; 2020: 55% NO; 2017: 49% NO; 2014: 49.7% NO; 2011: 9% NOMGMT proposal to declassify the board 99.6% YESMGMT proposal to eliminate supermajority voting provisions 99.6% YESSay on Pay: 2023: 71% NO; 2022: 73% NOSHP Wins (22?)SHP Lobbying Activity Report/Political Disclosures (2 wins): 2022: 60% YES; 2021 80% YESSHP repeal classified board (6 wins): 2017: 63% YES; 2016: 83% YES; 2015: 80% YES; 2014: 82% YES; 2013: 88% YES; 2012: 78% YESSHP simple majority vote (9 wins): 2022: 58% YES; 2021: 90% YES; 2020: 73% YES; 2019: 88% YES; 2018: 84% YES; 2017: 63% YES; 2016: 82% YES; 2015: 80% YES; 2013: 81% YESSHP majority voting policy (4 wins): 2016: 87% YES; ; 2014: 82% YES; 2013: 81% YES; 2011: 72% YESSHP independent board chair: 2013 (1 win): 73% YESNetflix Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director now directly owns 63,040 shares of the company's stock, valued at $78,948,144.Why Companies with More Female Board Members Have Better Workplace SafetyThat’s the conclusion of “From the Boardroom to the Jobsite: Female Board Representation and Workplace Safety,” written by a pair of Notre Dame professors and a colleague from Villanova University. Examining government and corporate worker safety data from 266 companies between 2002 to 2011, the trio determined that the number of workplace accidents and injuries tended to be lower at businesses that had higher numbers of women on their boards.Goodliest of the Week (MM/DR):DR: Rubrik's CEO let 800 employees sit in on board meetings — and he says it supercharged the companyFor the first seven to eight years of building the company, Rubrik's CEO opened board meetings to all staff.Bipul Sinha said as many as 800 staff members tuned in to these meetings.The data management firm went public in April 2024 and is worth $19 billion.MM: McDonald's downgraded on GLP-1 drug worries: Wall Street's top analyst calls MMAssholiest of the Week (MM):One story, three asshole options:Texas DRTexas Removes BlackRock From Energy Boycott Blacklist2022: Texas bans local, state government entities from doing business with firms that “boycott” fossil fuels““Our review focused on the boycott of energy companies…”Bills That Could Have Hurt Renewable Energy Die in Texas LegislatureTexas finalizes $1.8B to build solar, battery, and gas-powered microgrids2025: Texas Leads U.S. Renewable Energy Generation by a Country Mile - since 2019, renewable energy has nearly doubled to account for 30% of Texas energyBlackrockTexas Removes BlackRock From Energy Boycott Blacklist“BlackRock does not boycott fossil fuels — investing over $100 billion in Texas energy companies on behalf of our clients proves that.Fink letter to clients in 2020: Our role as a fiduciary is the foundation of BlackRock’s culture. The commitments we are making today reflect ...
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    52 m
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