BIZ NUGGETS with Boeing’s new investigation, “non technical” epithets, and Qantas, plus TOP FIVE CONNECTED BOARDS
Live from the windowless side of the Berkshire Hathaway annual meeting, it’s an all-new terrific Tuesday edition of Business Pants. Joined by Ari The Data Queen! In today’s Who Is Greg Abel anyway called May 7, 2024: Biz Nuggets and a Top 5 List
Our show today is being sponsored by Free Float Analytics, the only platform measuring board power, connections, and performance for FREE. If you are curious if your directors actually generate shareholder returns and how big the gender power gap, go to freefloatanalytics.com and sign up.
MATT
In our 'Does anyone know if "non technical" is a racial epithet?' headline of the week. Elon Musk says there are too many non-technical managers at Boeing
“Do you want to fly in an airplane where they prioritized DEI hiring over your safety? That is actually happening,
In our 'If I don't open my eyes it isn't real... if I don't open my eyes it isn't real... if I don't open my eyes it isn't real...' headline of the week. The head of NASA says he trusts SpaceX because Elon Musk put someone else in charge
Elon Musk... one of the most important decisions he made, as a matter of fact, is he picked a president named Gwynne Shotwell - said Musk about the hire, “Do you want to fly in an spaceship where they prioritized DEI hiring over your safety? That is actually happening,
In our 'Hey Ma! Do we have any Oreos? I really need some Oreos... take this pill instead? OK, tell dad not to buy Oreos.' headline of the week. FTC Moves to Allow Generic Versions of Ozempic
In our 'Hey Ma! I took the pill but I still want some Oreos. Tell dad. Get. Oreos.' headline of the week. People will keep eating Oreos despite Ozempic surge, according to CEO of maker Mondelez
In our 'I'll bet you $10 my 6 year old's soccer team kicks your 6 year old's soccer team's ass. Of course it's legal, soccer is a game of SKILL.' headline of the week. Dave & Buster's plan to allow betting on arcade games draws scrutiny
Lucra said most of the wagers across its software platform, which allows users to compete for real money in friendly competitions, are an average of about $10 in size. Lucra said the arrangement with Dave & Buster’s isn’t subject to the same gambling regulations or taxes that sportsbooks are because peer-to-peer betting is considered skill-based.
In our 'Hey, has anyone seen where I put that rhino DNA? I know we killed them all through mining and hunting, but I thought I left some DNA lying around just in case... it was in a yogurt container marked "rhino DNA"' headline of the week. Should we seal DNA samples of Earth's endangered species in a moon crater? - Space.com
In our 'Well shit... have we tried Mayans? Extinct? Hmmm... Vikings? ALSO extinct? Did we leave any DNA in a moon crater? NO? OK, just sell some pork lattes in China then...' headline of the week. Starbucks Is Running Out of Americans to Drink Its Expensive Coffee
ARI
In our “We definitely absolutely without a doubt never ever set up women, and most certainly not black women, to fail” headline of the week - “President of ABC news is leaving after 3 years”
Kim Godwin is stepping down after being tasked with shaking up a culture of Disney-owned ABC news organization after allegations and investigations of racist and inappropriate behavior.
In our “it’s leviOsa not levioSA” headline of the week - “Wayve, an AI start-up for Autonomous Vehicles Raises $1B”.
London-based Wayve isn’t doing that silly generative AI, it’s doing EMBODIED AI. SoftBank, Microsoft, and Nvidia know this difference and threw them a ton of money.
In our “it’s a group project…. but only one kid does everything” headline of the week - “Tesla leaves the expansion of EV stations to others”
In our “What? I thought this is what they meant by going the extra mile, working hard, bootstrapping” headline of the week - “Qantas reached a deal to pay a $79 million dollar fine for selling thousands of tickets to flights that it had already canceled”
In our “UH OH. I hope no one suddenly dies this week…..” headline of the week “Boeing Gets New Inquiry Over Work on 787s”
FAA is investigating Boeing after a recent disclosure that Boeing employees may have skipped some inspections on the 787 Dreamliners AND falsified aircraft records.
MATT
In our 'This is just a few bad apples, our team caught the issue and gave the CEO a 45% raise as a result.' headline of the week. Boeing says employees falsified 787 Dreamliner inspection records as the FAA opens a new probe
The FAA has opened an investigation into Boeing after the company voluntarily informed us in April that it may not have completed required inspections to confirm adequate bonding and grounding where the wings join the fuselage on certain 787 Dreamliner airplanes. The engineering team has assessed that this misconduct did not create an immediate safety of flight issue.
In our 'So it says here on your resume that you're actually choosing YOURSELF for this position. Excellent. It also says that you have skills in falsifying inspection records, and staying "laser focused" to avoid "quality escapes". This is great, when can you start?' headline of the week. Top Boeing executive weighs in on qualities the next CEO should have as the search for a new boss takes more twists and turns
In our 'If the plane was a Boeing, it would have been Boeing's fault, right?' headline of the week. A passenger had their flight ticket canceled after trying to smuggle a bag of snakes in their pants past a TSA checkpoint
In our 'We literally just figured out the FLYING the plane part, now you want us to give you money BACK for NOT flying it?? Jesus, pick a lane...' headline of the week. Airlines plead tech failure after government orders automatic refunds for wronged travelers
In our 'Said continuing board chair Richard Goyder, "Ask Vanessa"' headline of the week. Qantas to Pay $79 Million For Selling Tickets on Canceled Flights
TOP FIVE LIST
US large cap companies with the most connected directors
Connected directors are defined as INSIDERS and directors who are ONE or TWO phone calls away from one another from other boards
COLGATE-PALMOLIVE COMPANY
10 person board
80% connected!
20% insiders!
VERIZON COMMUNICATIONS INC.
12 person board
83% connected!
Only 1 insider on the board, but 92% of the board are CEOs!
GENERAL MOTORS COMPANY
13 person board
85% connected!
Only 1 insider, but 15% of the board went to the same school!
TARGET CORPORATION
12 person board
100% connected! 100!
17% insiders, 83% CEOs, 17% went to the same school!
Carnival Corporation
11 person board
100% connected!
27% insiders! More than a quarter of the board is insiders or have material transactions with the company!
