ESG is Supposed to be ‘Good Business’. It Cost Corps $28 Billion

[Chris]

ESG is Supposed to be ‘Good Business’. It Cost Corps $28 Billion
Woke going broke has just hit the big time.
By Daniel Greenfield

According to Mark Cuban, wokeness is just good business.

Billionaire “Shark Tank” star Mark Cuban said companies embracing “woke” ideology is just “good business,” pushing back against those who say it’s adversely affecting their bottom lines.

This is the same argument made for ESG inside and outside corporate spaces. ESG just means listening to employees and consumers, viewing all of society as stakeholders and working to make things better.

Does losing $28 billion count as good business? Woke going broke has just hit the big time.

Social issues are creating a market downdraft for America’s mainstay brands — just ask Target, Anheuser Busch, Kohl’s and their collective $28.7 billion loss in market value since the beginning of April.

And that doesn’t appear to count Disney whose movies have recently been underperforming.

Wokeness isn’t business, it’s ideology. ESG just turns CEOs into political czars. And while a lot of major corps, including monopolies, have embraced wokeness, institutional capture doesn’t demonstrate that it’s good business.

Nearly $29 billion in losses ought to be a wake-up call that CEOs who pursue wokeness are putting politics ahead of their shareholders.

https://www.raptureforums.com/polit...to-be-good-business-it-cost-corps-28-billion/

 

[NewWine2020]

ESG is Supposed to be ‘Good Business’. It Cost Corps $28 Billion
Woke going broke has just hit the big time.
By Daniel Greenfield

According to Mark Cuban, wokeness is just good business.

Billionaire “Shark Tank” star Mark Cuban said companies embracing “woke” ideology is just “good business,” pushing back against those who say it’s adversely affecting their bottom lines.

This is the same argument made for ESG inside and outside corporate spaces. ESG just means listening to employees and consumers, viewing all of society as stakeholders and working to make things better.

Does losing $28 billion count as good business? Woke going broke has just hit the big time.

Social issues are creating a market downdraft for America’s mainstay brands — just ask Target, Anheuser Busch, Kohl’s and their collective $28.7 billion loss in market value since the beginning of April.

And that doesn’t appear to count Disney whose movies have recently been underperforming.

Wokeness isn’t business, it’s ideology. ESG just turns CEOs into political czars. And while a lot of major corps, including monopolies, have embraced wokeness, institutional capture doesn’t demonstrate that it’s good business.

Nearly $29 billion in losses ought to be a wake-up call that CEOs who pursue wokeness are putting politics ahead of their shareholders.

https://www.raptureforums.com/polit...to-be-good-business-it-cost-corps-28-billion/

It basically turns corporations into mouthpieces for idealogues. I hope that it can be traced back to the source and that stockholders and employees of these companies can file such ma$$ive litigation against the individuals and NGO entities that pushed for it that they go broke.

Sadly, I know one of the champions of ESG and DEI is that despicable entity called Blackrock (who owned the Financial services company I worked or for nearly 20 yrs. Trust me, they're bad news. Their chairman Larry Fink is on record and can be viewed on any number of YouTube vids, stating in no uncertain terms that BR's motivation is to "force change" and that he is aware that it will arouse anger and resentment and will take years but eventually (he thinks) simply be accepted.

It's literally the very same script used by Bond Villain Klaus Schwab of the WEF when he spews about compelling (poor) people to accept living in "15 minute cities" and renting (not owning) all products and services.

Nobody has sufficient resources to take BR down, they essentially have all the money in the world at their disposal. BR is salivating at recently being given contracts to "rebuild" the cities in Ukraine even before the war has been decided. I wonder if the newly renovated cities will be "smart city compliant?" /S.

I can see the motivation for that oft misused (and misquoted) Bible Quote 1 Timothy 6:10:

For the love of money is the root of all kinds of evil...

It's not simply that the desire to acquire $$$ incentivizes many people to compromise their morals and/or perform evil actions to get it...it's ALSO that once one HAS a sufficient amount of it they can impose their wills upon other human beings, with or without those peoples consent. Without that money backing them, people would simply laugh at them and ignore them....maybe even spit on them.

If you force a person to do something they don't want to do at gunpoint you're a criminal. If you force an entire a culture to concede to something they don't want to do you're a successful CEO of a trillion dollar corporation.

 

[Everlasting Life]

If you force an entire a culture to concede to something they don't want to do you're a successful CEO of a trillion dollar corporation.

Aka....a tyrant.

 

[DWB]

I wish Shark Tank would get rid of Mark Cuban. I love the show, except that his arrogant, pompous self just ruins it. Mr. Cuban is just a very unlikeable person; he reminds me of Al Gore.