Oops! $132 Million Disappeared

Motley Fool Money

The Motley Fool

Business, Investing

4.4 • 3K Ratings

🗓️ 25 November 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Or $154 million could be gone. Macy’s is facing questions from investors after a rogue employee made some accounting errors. (00:14) Jason Moser and Ricky Mulvey discuss: - How more than a hundred million dollars can go missing. - The impact of weight-loss drugs on junk food manufacturers. - Some advice for investors looking for artificial intelligence “picks and shovels” plays. Then, (15:41) Bloomberg’s Lucas Shaw to check in on Netflix, and the company’s strategy on live events. Visit our sponsor: Learn more about the Range Rover Sport at www.landroverusa.com Link to NYTimes article about junk food and GLP-1 drugs: https://www.nytimes.com/2024/11/19/magazine/ozempic-junk-food.html Check out Shaw’s Screentime newsletter: https://www.bloomberg.com/screentime Companies discussed: M, CAG, TPL, NFLX Host: Ricky Mulvey Guests: Jason Moser, Lucas Shaw Producer: Mary Long Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	How do you hide more than $100 million?
0:07.2	You're listening to Motley Full Money.
0:13.7	I'm Ricky Mulvey, joined today by Wicked Superfan.
0:17.2	He's got a magic wand in hand and a coffee on the desk. It's Jason Moser. Jason,
0:22.1	how we doing? Hey, doing great, Ricky. How about you? I'm doing pretty well. Are you,
0:27.2	are you more of an Elfelba or a Galinda kind of guy? Elphaba? Elfabha. Come on, listen. I mean,
0:33.5	I saw the musical on Broadway, so I've got like, you know, some really great memories
0:38.9	there.
0:39.5	You know, I don't know that I really play sides there.
0:42.6	I thought the juxtaposition was very well done, and the music was tremendous.
0:47.0	It was a great experience.
0:48.0	We took our daughters up to New York City several years back and saw it on Broadway.
0:51.5	It was pretty awesome.
0:52.5	It's wicked week, but it's also a week for Macy's.
0:55.3	You'd think we'd be talking about the Macy's Thanksgiving Day parade this week,
0:59.0	but Macy's has a problem going on at the corporate office, Jason.
1:03.6	Macy's reporting preliminary results this morning,
1:06.6	a little weaker than the analysts were expecting,
1:08.7	but here's the real story.
1:10.7	Macy's had something to say in a section titled Other Corporate Developments.
1:15.0	I'm going to steal that title when I have something I need to tell people.
1:17.8	The company identified that a single employee with responsibility for small package delivery
	...

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