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.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.

Raise a glass to Marketplace!

Just $7/month gets you a limited edition KaiPA pint glass. Plus bragging rights that you support independent journalism.
Donate today to get yours!