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Business Pants

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

    Oracle’s bloodbath, Musk’s SpaceX, company “overstaff” gaslight, Jamie Dimon says
    Apr 3 2026
    Story of the Week (DR):Elon Musk's SpaceX set to go public in $1 trillion share listingElon Musk’s rocket and satellite company SpaceX has confidentially filed for an initial public offering with the Securities and Exchange CommissionThe 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 CFOBig Banks Seeking a Piece of SpaceX’s I.P.O. Must Subscribe to Elon Musk’sMusk 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 criticizedMichael 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 incidentElon 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 DROracle 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 RequiredTo 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 ...
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    1 h y 7 m
  • QUIZ: Air Canada’s CEO step down, Xerox governance, and Starbuck’s investors hate sugar

    QUIZ: Air Canada’s CEO step down, Xerox governance, and Starbuck’s investors hate sugar
    Mar 31 2026
    Air Canada CEO [Michael Rousseau] to step down in 2026 amid recent controversy over French-language skillsThe 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 directorsTRUE of FALSE: Air Canada is the only airline required to offer services in both official languages in CanadaTRUE 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 OfficerWill 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 ShareholdersAverage 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 LawThe 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 unplugTotal bill forgiveness“Conversation Cards” sponsored by Chick-fil-AA signed photograph of CEO Andrew Cathy, the third generation of the Cathy family to lead the companyEarly access to new menu itemsIce CreamNetflix 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 PushbackChubb 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 influenceThere 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...
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    46 m
  • Meta is tobacco, Trump loves French oil, FedEx’s fake tariffs, “blame AI” CEOs, Larry Fink’s anxietywash

    Meta is tobacco, Trump loves French oil, FedEx’s fake tariffs, “blame AI” CEOs, Larry Fink’s anxietywash
    Mar 27 2026
    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. DRHistoric Financial PenaltiesNew 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 CrackingThese 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" FeaturesFor 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 TechLegal 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 DamagesElon Musk’s Grok ordered to stop creating AI nudes by Dutch court as legal pressure mountsOn 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 ClubhouseCo-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 MetaJensen Huang: CEO NvidiaLarry Ellison: Founder/Exec Chair OracleSergey Brin: Co-founder GoogleLisa Su: CEO AMDMichael Dell: CEO/founder Dell TechnologiesSafra Catz: former CEO (current Exec Vice Chair) OracleMarc Andreessen: Co-founder Andreessen HorowitzFred Ehrsam: Co-founder Coinbase and ParadigmDavid Friedberg: CEO of The Production Board (and All-In podcast co-host)Jacob DeWitte: CEO Oklo (nuclear fission)Bob Mumgaard: CEO Commonwealth Fusion SystemsJohn Martinis: Nobel Laureate and physicist (formerly of Google Quantum AI)Trump’s Billion-Dollar French Boondoggle Gets Even DumberThe "Billion-Dollar Bribe" to Kill Clean EnergyThe 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 ProgressCritics 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 LossesAfter 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...
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    55 m
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