Disney announces PepsiCo's Hugh Johnston as their new CFO. Berkshire Hathaway's resilient earnings, Warren Buffett's cash on balance sheet, and the importance of water scarcity. Market action focuses on bond market and concerns about credit tightening. Investment sectors include consumer staples, utilities, energy, and healthcare with insights on treasuries as a potential investment option.
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Quick takeaways
Disney appoints Hugh Johnston as new CFO amidst challenges in navigating the transition to streaming and uncertainties in the media industry.
Efficient water management can lead to significant reductions in water consumption, energy use, and greenhouse gas emissions for industrial facilities.
Deep dives
Optimizing water use helps reduce greenhouse gas emissions
According to CDP, global water use, storage, and distribution contribute 10% of global greenhouse gas emissions. EcoLab helps companies optimize water use in over 170 countries. By managing water more efficiently, industrial facilities could reduce water consumption by up to 44%, energy use by 22%, and corporate greenhouse gas emissions by up to 12%.
Walt Disney Company faces challenges in transition to streaming
The Walt Disney Company is navigating the transition from traditional media distribution to streaming. The pivot poses challenges for both Disney and the media industry as a whole. With changes in leadership and strategic decisions to sell certain assets, buy back Hulu, and find partners for ESPN, the company is facing a turbulent period. The impact of the ongoing actor strike and the need to salvage the TV season add to the uncertainties.
Introduction of new CFO at Disney amidst a period of turmoil
Hugh Johnston, an experienced executive with a three-decade career at Pepsi, is joining the Walt Disney Company as the new CFO. Given the challenging situation Disney faces, including the departure of the previous CFO due to medical absence and uncertainty surrounding Bob Iger's future as CEO, Johnston's experience and conservative financial guidance may play a crucial role in navigating the company through this turbulent period.
Market concerns over Disney's earnings and business model
Despite beating quarterly earnings expectations, Disney's stock has been under pressure due to concerns about the company's future. Analysts are closely watching the fourth quarter earnings and the guidance provided by Disney. The potential impact of the ongoing actor strike, the company's transition to streaming, and the challenges in the media industry are all factors contributing to market uncertainty around Disney's future prospects.
Bloomberg News Entertainment Editor Chris Palmeri shares news that PepsiCo’s Hugh Johnston is becoming the new CFO at Disney. Bloomberg Intelligence Property & Casualty Insurance Senior Analyst Matthew Palazola discusses Berkshire's resilient earnings machine continuing to chug along. And we Drive to the Close with Liz Young, Head of Investment Strategy at SoFi. Hosts: Paul Sweeney and Molly Smith. Producer: Paul Brennan.