FRIDAY WRAP: transcript 10/21

LIVE from room 1028 at the Boston Back Bay Hilton Hotel, it’s a Jessie Scanlon part 2 edition of Business Pants Friday, featuring Ari the data queen, Free Float’s hidden gem Jessie the Money Whisperer, and old man Moody Moscardi. I’m everyone’s favorite person named Damion Rallis (Believe Me, I've checked, I’m the only one so you can’t take this crown away from me.)

On today’s show:Twitter, Kanye, permanent cups, and

Story of the Week (DR):

1. Twitter staff react to Elon Musk's takeover: 'I am fully expecting him to fire 69% of us on Friday at 4:20 p.m.' JS
2. Parag Agrawal, who saw Musk turn on him months ago, is set to receive the largest payout of $38.7 million, due largely to the entirety of his shares vesting upon his firing.
3. CFO Ned Segal is set to receive a $25.4 million payout for getting fired.
4. Vijaya Gadde, the chief legal officer, will leave with $12.5 million.
5. Sarah Personette, the chief customer officer, would get $11.2 million.
6. Morningstar puts that figure closer to $200 million
7. Kanye: From Adidas to JPMorgan, these are all the companies cutting ties with Kanye West after his offensive behavior AB DR
8. Adidas
9. Adidas said that the termination of the partnership was expected to have a short-term negative impact of up to 250 million euros ($246 million) on the company's net income in 2022 "given the high seasonality of the fourth quarter."
10. Executive board: 5 white dudes and a Head of Human Resources (re: not white dude = Amanda Rajkumar)
11. Supervisory Board: only back member is a celebrity: Jackie Joyner-Kersee. Is that a double token??
12. JPMorgan Chase
13. In the letter, the bank asked West to transfer his business to another financial institution by November 21, after which point any remaining accounts would be closed and their funds returned by check.
14. Talent agency CAA; Gap; fashion brand Balenciaga; Vogue; Film and TV studio MRC; Twitter; Instagram; The RealReal; Foot Locker; law firm Cohen Clair Lans Greifer Thorpe & Rottenstreich
15. Blowhard Index MM
16. Exxon, Chevron Reap $31 Billion Profit From Energy Crunch
17. Exxon posts strongest quarterly result in its 152-year history
18. Chevron reports its second-largest profit on natural gas rally
19. Facebook used to be a Big Tech giant — now Meta isn’t even in the top 20 most valuable U.S. companies
20. Mega-cap tech stocks are poised to drop as earnings for giants like Alphabet and Meta have left investors 'screaming for financial discipline,' analyst says
21. Stakeholders Rule
22. Environmental activists pelted a $110 million Monet painting with mashed potatoes days after a Van Gogh painting was attacked by protesters
23. Climate Activist Arrested After Gluing His Head To ‘Girl With A Pearl Earring’ Painting while another poured what appeared to be tomato soup and glued himself to a nearby wall
24. The Climate Art Vandals Are Embarrassing - The Atlantic

Goodliest of the Week (AB):

1. INFLUENCE SCORES ARE DONE!!! PICK ONE FOR NEXT WEEK
2. Companies where women have a higher % of influence than company makeup
3. Pay chairs that have NARROWED the CEO pay ratio DR MM JS
4. Companies that are crushing carbon emissions

Assholiest of the Week (MM):

1. Elon AB JS DR
2. Shows up to their first day of work at a company he bought on a lark with a sink
3. “I didn’t do it because it would be easy.? I didn’t do it to make more money.? I did it to try to help humanity, whom I love.? And I do so with humility…”
4. Also helping humanity: NOT spending $44bn on Twitter
5. Also: The $1,900 Toy Tesla ATV Is Recalled Over Safety Violations
6. Also: Tesla Confirms Hardware Recall Over Model 3 Seat Belt Problem – Review Geek
7. Ye
8. Changes his name to Ye from Kanye, which I refuse to say as “Yay” because that sounds too enthusiastic, so I’ll pronounce it “Yee”, as in “Ye old timey thinking about Jews”
9. Apologized for being an antisemite by saying, “yeah, but THAT OLD GUY is a total retard” about Joe Biden
10. Dumped by sponsors, including Adidas who was founded by actual Nazis, Ye goes on to walk unannounced to the Skechers offices with a video camera in order to get a new sponsorship before being escorted out
11. That kid in your class that showed up with RSV, COVID, flu, and now ebola so that my kid is home coughing up boogers, the American public for thinking taking masks OFF was a good idea, and humanity for its deep propensity to lick handrails and sneeze in your face
12. Covid Hospitalizations Climb Again As Another U.S. Wave Looms Large—These States Lead The Way
13. Uganda Ebola outbreak tops 100 cases, 30 deaths; cases growing in capital
14. The word “collapsed” in this headline: A year ago, Mark Zuckerberg rebranded Facebook as Meta to 'bring the metaverse to life.' His net worth has since collapsed from $118 billion to $37 billion.

Exhausting-ist of the Week (JS):

Environment Secretary Thérèse Coffey says she tackles climate change by using ‘permanent cups’ MM DR AB

1. Seriously… the one thing the Environment Secretary of the UK is doing personally is committing to permanent cups, which by that I think she means reusable???
2. It’s no wonder that the new PM has decided not to attend COP27 summit next month citing “other pressing domestic commitments including preparations for the Autumn Budget”
3. Starbucks: Anti-Union or Anti-Suicide Prevention???-? Why Starbucks Cares So Much About a Little Pin
4. A barista in Buffalo says he was fired for wearing a suicide awareness pin. This was just one of more than 120 “retaliatory firings” against unionized stores
5. The barista began wearing the pin on his apron with fellow baristas to honor a coworker and fellow union supporter who had recently died by suicide. After the first week of wearing the pin, the store’s management told employees it was a violation of the company’s dress code and must be removed. He refused to remove it and was fired.
6. The barista believes management at his store did not want employees bonding together over issues like this because they consider it too close to union activity.
7. Guess Who Is Getting Rich Off Your Electric Bill
8. Personally, our electric bill has been a roller coaster over the past several months- it went from $385 in July UP TO $600 in August back to $460 in September and down to $180 on our most recent bill…excuse me???
9. U.S. electric utility sector is rewarding CEOs with larger compensation packages meanwhile there’s a decline in median employee pay widening the pay gap ratio

Who Won the Week?

1. DR: Parag: it’s finally over
2. AB: Parag Agrawal and his $42 million for being fired within 1 year of CEOness
3. MM: the numbers 420 and 69
4. JS: C-Suite of Twitter and their 200 mil

Predictions

1. DR: Campbell’s Soup criticized for creating honorary Climate Change Poop Soup: Tastes Equally Great On Walls or in Bowls
2. AB:?
3. MM: Ye gets his next sponsorship from Chik-Fil-Et and they market it as Chik-Fil-Ye
4. JS: