Law & Order: Sports Retailers Unit
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 4 November 2019
⏱️ 21 minutes
🧾️ Download transcript
Summary
The SEC and U.S. Dept. of Justice team up to investigate Under Armour’s accounting practices. McDonald’s fires CEO Steve Easterbrook due to “poor judgment” in a consensual relationship with an employee. Jason Moser analyzes those stories, mulls the future of both businesses, and weighs in on what Berkshire-Hathaway should do with its record $128 billion in cash on the balance sheet.
Transcript
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| 0:00.0 | It's Monday, November 4th. |
| 0:05.0 | It's Monday, November 4th. |
| 0:06.7 | Welcome to Market Foolery. |
| 0:07.8 | I'm Chris Hill joining me in studio today, |
| 0:09.6 | the one in Ellemy, Jason Moser. |
| 0:10.9 | Thanks for being here. |
| 0:11.6 | Thank you for having me. |
| 0:12.6 | The news fairy showed up over the weekend. |
| 0:14.6 | You did. |
| 0:15.6 | You with our trading messages on Sunday. |
| 0:19.4 | McDonald's has a new CEO, Berkshire Hathaway has a record amount of cash. We're not going to start there. |
| 0:25.8 | We're going to start here. The U.S. Department of Justice, that's always good news anytime |
| 0:31.1 | you're a publicly traded company. The U.S. Department of Justice has teamed up with the Securities and Exchange Commission |
| 0:37.1 | to investigate Under Armour's accounting practices. |
| 0:41.4 | At issue is whether Under Armour moved sales from quarter to quarter to |
| 0:45.4 | to appear healthier than the company actually is. This is a criminal |
| 0:50.0 | investigation and shares of Under Armour are down 15% this morning. I'm a little |
| 0:55.1 | surprised they're not done more. Um, well I... Not that it was trading at some |
| 1:00.3 | sky-high valuation. Yeah, I was gonna say it it's been not that great of a time for Underarm. |
| 1:06.4 | Anyway, I think the funniest part, if you could say there's a funny part about this, but it did strike me. |
| 1:11.7 | If there's any veracity to these allegations whatsoever, |
| 1:15.2 | I mean, they were doing this to make their financials look better. |
... |
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