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(Marketwatch)   "We are not saying (these companies) aren't fulfilling their commitments, ...we are saying that it's almost impossible to know - unless corporations choose to disclose it"   (marketwatch.com) divider line
    More: Followup, Public company, Facebook, Pledge, Finance, Racism, U.S. companies, Privately held company, Black people  
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598 clicks; posted to Business » and Main » on 26 Oct 2021 at 11:03 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



13 Comments     (+0 »)
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2021-10-26 10:15:55 AM  
Oh!

I'll say it!

These companies aren't fulfilling their commitments.
 
2021-10-26 10:18:29 AM  
Obvious tag seen crying in the corner, all lonely and sad.
 
2021-10-26 10:18:50 AM  
The marketing and social media teams for these companies are doing well.

But actual effort that might cost a penny on your quarterly earnings per share? Ha fark no
 
2021-10-26 10:43:19 AM  
U.S. companies last year pledged to spend billions of dollars to help solve the country's longstanding racial inequities. But more than a year later, it's nearly impossible to know where all of that money has gone and exactly who benefited from it.

Wait, you actually believed them? The root causes of a lot of our ails stem from income inequality. You want to see how they are addressing racial inequality, look at how they pay their employees and whether or not they pay their full amount in taxes.
 
2021-10-26 11:19:54 AM  
Same place as all the donations that were pledged to restore Notre Dame.
 
2021-10-26 11:22:43 AM  
Look, they put a black square on their website for a day, what more do you want?
 
2021-10-26 11:28:08 AM  
Well hey they said it and made a lot of good PR doing it and in the end isn't that what is most important.
 
2021-10-26 11:50:15 AM  

Nadie_AZ: ...and whether or not they pay their full amount in taxes.


Oh, thank you, I did need that morning laugh today!
 
2021-10-26 12:12:25 PM  
I don't think .. can I say most?... MOST US companies are reporting their earnings honestly. I really don't. I don't think anyone is watching. The NYSE does not care. No exchange does. Chinese firms are waved in the door. Bitcoin trading is perfectly fine. Analysts do not analyze. Nobody investigates. It is in nobody's interest to do so anymore. Tax investigators are befuddled and cowed by highly paid and highly competent lawyers and accountants. Few people CAN read a balance sheet, let alone bother to do so.

So someone made a promise to do something and did not do it? I am not surprised in the least.

And this goes for environmental pledges too, certainly. (saving this for another thread)

The value is in the STATEMENT... THE IMPLICATION... not in the follow-through. It is not corporate policy or ethics. It is marketing.

When a crash does come, watch all of the crap get washed off of balance sheets. It is going to be epic. Companies bragging about how great their earnings are will suddenly be whining for bailouts, with suddenly horrible financials. All the commitments will go out the window and the company will reset until it gets a chance to beg for good will by making NEW commitments.
 
2021-10-26 12:33:50 PM  
U.S. companies last year pledged to spend billions of dollars to help solve the country's longstanding racial inequities. But more than a year later, it's nearly impossible to know where all of that money has gone and exactly who benefited from it.

They said they would do it, but they didn't say When they would do it.

Go on, hold your breath.
 
2021-10-26 1:17:55 PM  
How many woke companies in the fashion industry rake in billions while their shoes and clothes are made by thousands and thousands of slaves?
 
2021-10-26 1:27:04 PM  

Nadie_AZ: U.S. companies last year pledged to spend billions of dollars to help solve the country's longstanding racial inequities. But more than a year later, it's nearly impossible to know where all of that money has gone and exactly who benefited from it.

Wait, you actually believed them? The root causes of a lot of our ails stem from income inequality. You want to see how they are addressing racial inequality, look at how they pay their employees and whether or not they pay their full amount in taxes.


Income inequality stems from a lack of job opportunities and the education to achieve those opportunities. We have a massive skills gap as evidenced by our used of H1B workers for high skill jobs. Companies can skill workers for these jobs, instead they run screaming for cheaper imported labor
 
2021-10-26 2:35:42 PM  
This is why when rich people promise to give money to some cause at some amorphous point in the future, you should ignore them (or call out their BS). If they wanted to give money to something, they could and would do so immediately if only for the obvious good press. For instance, Bezos' ex-wife gave away a ton of her divorce settlement immediately (and is still giving money away) and didn't make some faux promise or set up some faux charity/tax shelter to do so in the future.

https://www.cnbc.com/2021/06/15/macke​n​zie-scott-gives-away-another-2point7-b​illion-to-charity.html
 
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