FRIDAY WRAP: Boeing’s quasi shakeup, childcare profits, Fink’s letter, and free director data

Introduction

IT’S FRIDAYYYYY!!! And we are LIVE, and ALIVE. This is Ari the Data Queen, joined by AnalystHole Matt Moscardi, Jessie the Money Whisperer, and Hazelnut Rallis. On today’s weekly wrap up: updates on Boeing, Disney BUT ALSO A STUDY EVERY PARENT SHOULD BRING TO THEIR EMPLOYER and A LAW EVERY STATE NEEDS TO PASS.

Story of the Week (DR):

1. Boeing CEO says it was 100% his own decision to resign AB MM

1. Dave Calhoun plans to resign as Boeing's CEO at the end of this year

1. The CEO told CNBC in an interview that he's holding off on his retirement until the end of the year because he always told the board that he would give plenty of notice before leaving the company. "That's what this is about," the CEO said. "It's me giving them notice that at the end of this year, I plan to retire."

2. Stephanie Pope replaced Boeing Commercial Airplanes president and CEO Stan Deal

3. board chair, Larry Kellner, won't run for reelection at Boeing's upcoming shareholder meeting

2. Nelson Peltz withholds votes from Disney CEO Bob Iger in proxy battle

1. “Disney is stupid because I’m not trying to fire Bob Iger, I want to help him,” Peltz recently told the Financial Times. “We don’t fire CEOs.”

3. Mississippi hits BlackRock with cease and desist, threatens massive fine over ESG policies

1. The 33-page order, signed by Mississippi Secretary of State Michael Watson, alleges that BlackRock fraudulently marketed some of its mutual funds and exchange-traded funds as “non-ESG,” even though the investment manager still carries on an engagement and investment strategy informed by ESG considerations.

2. Consumer-Advocacy Group Taunts BlackRock CEO with ‘Fraud’ Billboard: ‘Enjoy the View, Larry!’

4. FTX fraudster Sam Bankman-Fried sentenced to 25 years in prison

Goodliest of the Week (AB):

1. Child care benefits for workers effectively pay for themselves, new study finds DR

1. I WILL SHOUT THIS FROM THE ROOFTOPS

2. A study by BCG and nonprofit Moms First found that “For every $1 spent on child care benefits, employers saw a net gain of between $0.90 and $4.25 through reduced absenteeism, less lateness, and lower rates of attrition.”

3. UPS pilot program: an onsite emergency daycare for hourly workers in one facility, it led to 3 fewer employee absences a day. It plans to expand this to 8 more sites immediately.

2. Oregon governor signs nation’s first right-to-repair bill that bans parts pairing MM

1. … manufacturers to provide the same parts, tools, and documentation to individuals and repair shops that they provide to their own repair teams

2. devices can't block repair parts with software-pairing checks

3. SBF sentenced to 25 years

1. Judge Lewis Kaplan said during the sentencing “There is a risk that this man will be in position to do something very bad in the future,” 

2. SBF was also ordered to pay $11 billion in forfeiture to the U.S. government.

Assholiest of the Week (MM):

1. Egan Jones AB

1. In Disney proxy battle, second firm urges shareholders to elect Nelson Peltz - Los Angeles Times

2. “the unnecessary and extremely dangerous entrance of the company and its management into the killing fields of the culture wars.”

3. So… this is… better: Nelson Peltz Slams Disney For Being Woke: "Why Do I Have To Have A Marvel That’s All Women?" - That Park Place

4. We’re going with “woke” as an investing theme?

5. Here’s what Disney did: recognized families are all different, and now asshole proxy advisors and buddy share borrowing billionaires are throwing hissy fits?

2. Larry Summers, doing his job as Sam Altman bro DR (MM votes for “Larry”)

1. Larry Summers, now an OpenAI board member, thinks AI could replace ‘almost all’ forms of labor.

2. “Man who says women not as smart as men excited about robots being smarter than women too”

3. Finally, the capitalists don’t have to worry about that pesky labor

3. Sam Bankman-Fried apologized for wrecking the lives of FTX customers while still trying to shift the blame for their losses

4. Larry Fink’s 2024 Annual Chairman’s Letter to Investors

1. Go ahead, don’t say ESG or environmental or climate change… they still do this:

1. Mississippi Seeks Multimillion Dollar Penalty Against BlackRock Over ESG Investing - ESG Today

2. Anti-ESG Group Taunts BlackRock CEO with ‘Fraud’ Billboard: ‘Enjoy the View, Larry!’ - National Review

Headline-iest (ALL):

1. MM

1. Dozens of lasers got pointed at a passenger jet pilot as it flew over a festival

1. IT HAPPENED AT THE National Pyrotechnic Festival in Tultepec, Mexico and obviously was posted on TikTok

2. Billionaire Says His Long-Delayed ‘Titanic II’ Ship Will Be Antidote to ‘Woke’ Politics

2. AB

1. Airlines Are Just Banks Now: Airlines make more money from mileage programs than from flying planes-and it shows. AB

2. Inside the Garrick, the Elite Men-Only London Club Rocked by Criticism

3. All-Female Auto Repair Shop Lets Clients Get Mani-Pedis While Waiting For Their Cars MM

4. Largest U.S. sportsbooks join forces to tackle problem gambling DR

3. DR

1. The CEO of Ryanair says the airline would regularly find missing seat handles and tools under floorboards on Boeing planes 

Exhausting-est of the Week (JS):

Who Won the Week?

1. DR: Dave Calhoun

2. AB: ex-OpenAI employees…. Amazon injects another $2.75 billion into startup founded by siblings who worked at OpenAI.

3. MM: Anyone who wants free director data - we lifted the paywalls on freefloatanalytics.com, so you get 80,000 active directors globally, influence metrics, and four performance metrics for every single one.  Suck it ISS.

4. JS: 

Predictions

1. DR: It won’t be Pope

1. In her position on Boeing's executive council, Pope sponsors a business resource group dedicated to promoting gender diversity

2. “Women tend to be, myself included, more hesitant around challenges or new opportunities, and it really comes down to fear of failure,” Pope said back in 2017.

2. AB: Florida will fire teachers for being too woke and replace them with AI

3. MM: We get FOUR more users of freefloatanalytics.com after that announcement.

4. JS: