Run into more customer service bots lately? Let Marketplace Tech know. More info

CEOs punked on Wall Street calls

Kai Ryssdal Feb 20, 2008
HTML EMBED:
COPY

CEOs punked on Wall Street calls

Kai Ryssdal Feb 20, 2008
HTML EMBED:
COPY

TEXT OF STORY

Kai Ryssdal: This final note: we know financial information can be confusing. But people who ought to know better have been a little perplexed themselves. CEOs and other top executives have been getting punked on earnings conference calls. They’re the quarterly rituals companies go through with Wall Street analysts. The analysts get a code and dial in to ask question. The executives speak without trying to say too much about profits or losses. But lately a prankster identifying himself only as as Joe Harrick from Gutterman Research has been tossing out some doozies.

JOE HARRIK: Can you provide some more color as to what you’re doing to reduce the price per hectolitre?

LEO KIELY: Can you hold a second on that?

The guy who needed a second to figure out price per hectoliter? Leo Kiely, president and CEO of the Molson/Coors Brewing company. Gutterman Research? No such thing.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.