Corporate Gossip

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Crazy Eddie, Fraud Mother? Jul 19, 2024

Show notes

NO ONE does fraud like Eddie Antar, and Crazy Eddie is the bizarre story that got Becca hooked on fraud!

Adam, Becca, and their Dad Jeff pop a few ludes and drop down the rabbit hole into a 1970's New York City punk rock fever dream. They meet a young Eddie Antar scamming tourists in a seedy Time Square clip joint and follow his journey to become the eccentric millionaire founder of Crazy Eddie Electronics. Antar was a marketing genius, and by the mid 1980's commercials for the chain were inescapable, shoppers were practically screamed at to rush out to Crazy Eddie's because 'HIS PRICES ARE INSANE!!!!'

The insane prices, of course, were facilitated by an elaborate criminal racket. Money laundering, insurance fraud, tax evasion, bribery, insider trading… Eddie Antar did it all! But when the cash begins to dry up, Eddie's increasingly desperate and brazen behavior puts him in the crosshairs of the SEC. That's when Eddie Antar became an international fugitive and left his family, who enabled and benefited from his behavior, holding the bag.

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Read Retail Gangster: The Insane, Real-Life Story of Crazy Eddie

Crazy Eddie commercial from 1982

Remembering Crazy Eddie: His Prices Were Insane

Intuit & Turbo Tax: Girlboss, Gaslight, Gatekeep Jul 12, 2024

Show notes

Why does doing taxes suck so much? Because Capitalism!

Over the past 20 years, the lovable dweebs at the IRS have been on a quest to make filing personal taxes free and easy. They say America should be like other countries, where the government sends you a pre-filled tax return and all you have to do is sign-off. Seems like a no-brainer, right? Like what kind of deranged psychopath wouldn't want that?

Enter Intuit, maker of tax preparation software Turbo Tax, and their disgruntled band of lobbyists. Their entire business model depends on you being afraid to screw up your taxes. So they bribe lawmakers to over-complicate tax laws, threaten the government into underfunding the IRS, and run dubious misinformation campaigns alleging that free tax filing is somehow… racist?

The nefarious knuckleheads at Intuit would have gotten away with it too if it weren't for the determined efforts of Propublica journalists. They joined forces with the unlikely heroes at the IRS, and from a muggy basement office in Washington they stood up to Big Tax and won.

We <3 the IRS and you will too after this episode!

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How Intuit Reinvents Itself (Fortune)

The TurboTax Trap (ProPublica Investigation series)

IRS makes free tax return program permanent and is asking all states to join in 2025

BONUS: Interview with Winning Fixes Everything author Evan Drellich Jul 10, 2024

Show notes

ANOTHER BONUS EPISODE! Becca & Adam talk to Evan Drellich, the author of Winning Fixes Everything: How Baseball's Brightest Minds Created Sports' Biggest Mess

Read Winning Fixes Everything: How Baseball's Brightest Minds Created Sports' Biggest Mess

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Astros: McKinsey Strikes Out Jul 05, 2024

Show notes

America's pastimes: Baseball and Fraud!

What happens when a bunch of fleece-vested jabronis take over a Major League Baseball team? Becca and Adam hop the fence at the stadium formerly known as Enron field and bring you the tea from the front-office of the Houston Astros.

Two years after the Astros won the World Series, the Athletic dropped a bombshell: the team had cheated. The public fallout was swift - fines were levied, rules were changed, and championships were threatened. The players and coaches bore the brunt of the blame, while the true schemers at the root of the scandal evaded scrutiny. That is until a group of tenacious reporters uncovered how Astros leadership were infected by the MBA-pilled corporate villains at McKinsey.

If you listened to our episode on McKinsey you know what happens next. Values were trashed as profits were maxed by any means possible. Ultimately, the Astros clubhouse became an environment where cheating was acceptable. Because after all, Winning Fixes Everything.

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Read Winning Fixes Everything: How Baseball's Brightest Minds Created Sports' Biggest Mess

Watch The Astros Edge

The Astros opened baseball ops to McKinsey consultants, from scouting to R&D and the farm

The Astros stole signs electronically in 2017 — part of a much broader issue for Major League Baseball

CBS & Messy Les Moonves Jun 28, 2024

Show notes

If you thought Sumner Redstone was a degenerate, just WAIT until you meet his pervy protege, Les Moonves!

CBS CEO Les Moonves, aka "Mr. TV" is one of the most powerful men in Hollywood. He transformed CBS from a sleepy granny network into a ratings powerhouse with shows like Survivor, Big Brother, Criminal Minds, and The Big Bang Theory. The business part of this story is one Cheezy Blaster away from being a 30 Rock episode. The action behind closed doors on the other hand, feels more like Law & Order: SVU.

CW: Sexual abuse

Listen to all of Season 4 on Patreon

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Read Unscripted: The Epic Battle for a Media Empire and the Redstone Family Legacy

Les Moonves' spectacular rise before his fall from grace

Why Sumner Redstone's men; Leslie Moonves and Philippe Dauman; made a king's ransom

Les Moonves and CBS Face Allegations of Sexual Misconduct

Paramount+'s Existential Questions

Leslie Moonves Fined $11K by L.A. City Ethics Commission for His Role in LAPD Scandal

Paramount / Viacom: Sumner House of Horrors Jun 20, 2024

Show notes

The Paramount / Viacom story is just like Bravo's Summer House, but SCARIER!

Our main character, Paramount CEO Sumner Redstone, is a horny teenager trapped in the body of a crusty old billionaire. At 92, despite being barely conscious, he was still chairman of TWO publicly traded companies.This real life Weekend at Bernie's scheme was made possible by a group of executive-level lowlifes who took advantage of their absent boss and enriched themselves at the expense of shareholders. It wasn't until a group of unlikely heroes exposed the elder abuse taking place at Sumner's mansion that someone finally pulled the plug. But by then, the stench emanating from the geriatric bachelor pad was too strong for even the most devoted Paramount / Viacom supporters to ignore.

Join Becca and Adam as they tell the story of the unlikely rise and fall of Sumner Redstone and Paramount Global.

CW: Elder abuse, Sexual abuse

Listen to all of Season 4 on Patreon

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Read Unscripted: The Epic Battle for a Media Empire and the Redstone Family Legacy

The Cringey Sexcapades of a Horny Billionaire

Who Controls Sumner Redstone?

Viacom Is Having A Midlife Crisis

Spring Owl Activist Investor Deck

Ain't no party like an Insys party Jun 14, 2024

Show notes

Insys was the startup unicorn of the opioid crisis, and boy did they know how to party.

Becca & Adam meet Insys CEO John Kapoor and his rowdy band of crooked pharmaceutical reps as they slither their way through doctors offices across the country, pushing their marquee product: Fentanyl! The shady sales reps unleashed the powerful opioid on unsuspecting patients and bribed their doctors to increase dosages through an illegal kickback scheme. Eventually their shameless conspiracies and criminal shakedowns lead to a public meltdown and federal racketeering charges, but not before Kapoor could be crowned Forbes coverboy!

CW: Drug abuse

Links:

Pictures on our Substack

The Pain Hustlers - NYT Expose

Read Pain Hustlers - the book

An Opioid Spray Showered Billionaire John Kapoor In Riches. Now He's Feeling The Pain

A potent painkiller, and the drug maker's marketing, are faulted in a woman's death

Pharmaceutical Executive John Kapoor Sentenced To 66 Months In Prison In Opioid Trial

Tracking the Opioid Settlement Cash

BONUS: Interview with Ringmaster author Josie Riesman Jun 12, 2024

Show notes

IT'S A BONUS EPISODE, BROTHER!

Becca and Adam talk with the author of Ringmaster, Josie Riesman

Read Ringmaster by Josie Riesman

Follow Josie on Instagram, her website josie.zone, or the book website

Josie's article mentioned in the interview: Wrestling turned me cis, then it turned me trans

WWE & Vince McMahon: Worm with a Mustache Jun 07, 2024

Show notes

Welcome back brother!! Season 4 is here and ready to SMACKDOWN! WWE style.

Binge ALL of Season 4 NOW on Patreon!

We've seen this story before - a deeply traumatized child inherits their father's business and fills the void left by the adults that failed them with, what else… MONEY!!!! Rather than spend time examining his emotional shortcomings, Vince McMahon creates an alter ego, Mr. McMahon, to live out his darkest fantasies. But what happens when the CEO of a public company is also the greatest heel of all time? Find out as Becca and Adam step into the Hell in a Cell of the business of professional wrestling and battle through 60 years of the stinkiest secrets of World Wrestling Entertainment.

CW: Drugs, Sexual Abuse

Links:

Support the podcast

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Read Ringmaster by Josie Riesman

Now It Can Be Told: Those Pro Wrestlers Are Just Having Fun

2003 Vince McMahon on Real Sports with Bryant Gumbel

Federal Prosecutors Investigate Vince McMahon Sex-Trafficking Allegations

Season 3 Finale & Chobani's Anti-CEO Dec 08, 2023

Show notes

It's the Season 3 Finale! We answer listener questions and meet the Yogurt King of New York: Chobani's founder, Hamdi Ulkaya. From nomadic Turkish farmer to millionaire milk mogul, Ulkaya became known as the Anti-CEO, prioritizing people over profit and creating one of the fastest growing food companies in America.

Correction: We said the Chobani Idaho factory was in Idaho falls. It is actually in Twin Falls. Thanks to the listener who pointed that out!

If you liked this season don't forget to RATE AND REVIEW THE PODCAST

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Hosts: Becca Platsky (Becca@nitetoast.com) Adam Platsky (Adam@nitetoast.com)

Produced by: Michael Albanese @bigmanmike

Support the pod by buying us a coffee

Check out our reading list

Hosts: Becca Platsky (Becca@nitetoast.com) Adam Platsky (Adam@nitetoast.com)

Produced by: Michael Albanese @bigmanmike

Timestamps & Links:

01:30 - Listener Questions

How did you guys come up with this idea for the podcast?
What's the best / juiciest piece of corporate gossip that didn't make the cut?
Why are your seasons so short? I would pay for a subscription to get a weekly episode until the end of time!
I'm a final year student in finance and I'm worried I have made a terrible mistake studying this degree, as it seems that corporations mostly cause more harm than [good], and benefits an elite few. is there any field you would recommend where I could use my degree for good? Is there a way that finance can be a force for good?
Given the intricate web of corporate scandals involving entities like FTX, McKinsey, Koch Industries, SVB, etc. I'm curious to know: What common threads or distinct patterns have you observed across these cases, and how do these scandals reflect broader issues within the corporate landscape?
Have there been any surprising twists or unique aspects in these stories that stand out to you guys, providing deeper insights into the world of corporate misconduct

18:00 - Chobani's Anti CEO

Links:

The Profile Dossier: Hamdi Ulukaya, the Shepherd-Turned-Billionaire CEO

Chobani CEO says pulling IPO was one of the best decisions company has made

Chobani hired hundreds of refugees at its plants. Average tenure now exceeds industry average

Chobani's CEO is giving up to 10 percent of his company to employees

Capitalism and Humanitarianism Can Coexist. Chobani's CEO Is Trying to Prove It