Since 2018, I have written a lot about governance. Some people forget that ESG isn’t just about the “environmental” and “social” parts of business. To me, the G-governance- should be the most important part. A good board is strong, knowledgeable, independent and holds management accountable.
Sadly, there are too many boards, across all industries, that look nothing like that. They put on friends, who in turn nod and smile during comp time, and it is paid for in kind at a later date with a reciprocal appointment. This isn’t about CEO comp, or the package an executive team gets when the company goes BK, but I meant it when I said “we have a G problem.” It is not only in Oil and Gas. It is in every industry. Everywhere. And where it shows up worst is conflicts of interest.
When Bill Ackman goes on TV, says “hell is coming”, and it is found out 1 week later he made $2 billion, many say “he was just taking his book.”
Ok. Well what about when it’s masked as public health? Many people don’t know that Dr. Scott Gottlieb is on the board of Pfizer. He is a former commissioner of the FDA and you likely know he name because he was on CNBC A LOT during the pandemic scaring people.
Instead, I want knowledge. I learned when I listened to the JRE podcast on with Eric Weinstein (it’s worth it). Listen to my podcast with Ivor Cummins from last year (he talks about ivermectin even then! And health). I like questions, I don’t like cheerleading.
Here’s are facts. Pfizer was granted Emergency Use Authorization for it’s vaccine. It guided to 2021 results that included 25% of its revenue from their COVID vaccine that was 50% of its profit and was making high 20s rates of return. They have 0 liability. Who is asking questions?
Yesterday, in the least surprising decision of all time, Pfizer was given approval by the FDA for their vaccine. Last week, we were told that a booster shot was required. 3 weeks ago we were told masking, regardless of vaccine status was essential. It was published around the time a study came out of the Mayo Clinic that suggested the Pfizer vaccine effectiveness had fallen to 42%. Studies out of Israel suggested the same thing. And 5 weeks ago; a study of a party in Massachusetts showed that 74% of the infections of the party goers were vaccinated.
I asked for 6 points of data. That post was taken down by LI. Eric Weinstein has been censored repeatedly by YouTube.
I am not, nor have I ever been anti-vax. I am anti mandate. And in particular, I have A LOT of questions about governance in this county and the separation of government and big tech and big pharma. But I’m told there is nothing to see. Said Joe Biden.
“Today I’m calling on more companies in the private sector to step up with vaccine requirements that will reach millions more people. If you’re a business leader, a nonprofit leader, a state or local leader, who has been waiting for full FDA approval to require vaccinations, I call on you now to do that,”
We have a “G” problem and it is everywhere.
#hottakeoftheday