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(Business Insider)   Time to cut ESG spending   (businessinsider.com) divider line
    More: Spiffy, Economics, Goldman Sachs, Investment, Late-2000s recession, Unemployment, Revenue, Macroeconomics, Monetary policy  
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913 clicks; posted to Business » on 05 Oct 2022 at 10:35 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



15 Comments     (+0 »)
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2022-10-05 9:04:15 AM  
But no end to pay raises for CEOs and plenty of stock dividends to ease the share holder's pain "in these trying times"

Employee who helped make this all possible? Security will escort you out
 
2022-10-05 9:07:46 AM  
They never really took it seriously anyway. It was window dressing and a small percentage of anything they did.

Profit above all things.
 
2022-10-05 9:16:02 AM  
The big business bulldozer can't stop for anything.

It's great you helped the bulldozer get this far, now you will be tossed over the front and ground into goo for the good of the machine because the Lords of Commerce must continue to chase their unsustainable idea of constant positive growth.
 
2022-10-05 9:19:31 AM  
Imagine if individuals treated their families like businesses treat employees.

Sorry kids, times are tough, food is really expensive and school supplies edged up 8% this year! So we're cutting you loose to live on the streets. Maybe a new family will take you in, or maybe you can get a handful of dog food down at the local pound.

Your mom and I will still be taking our vacations, eating filet mignon and cognac for breakfast, and generally not changing our habits in any helpful way at all.

Ta ta!
 
2022-10-05 9:26:53 AM  

The Exit Stencilist: But no end to pay raises for CEOs and plenty of stock dividends to ease the share holder's pain "in these trying times"

Employee who helped make this all possible? Security will escort you out


But they don't think it was the employees who made it all possible.  They were a necessary "evil" that were only worth the market value of their labor and as such, could be easily replaced.  What made it possible was their leadership and/or decision making.

The insane thing is that half of those employees agree with them even as they are being escorted out by security.
 
2022-10-05 9:41:47 AM  
91% of CEOs of large US companies said there'd be in a recession within the next year.

I mean they've tried their hardest to make one happen, from blaming labor to bribing the Fed, so chances are of course good.

I'll legit laugh, though, if one doesn't actually happen.  I have a tinge of a feeling it won't, and that's solely because most of what's going on really predominantly affects way-upper-middle and rich people.  The imminent housing price drop will, ironically, favor the actual drivers on the economy, while the already-stretched masses will stretch a little more.  Energy is dropping. And the damage to that industry was already done during COVID. Student loans forgiven.  What's really left?  Savings rates go up?  Food portions go down again? Oh noes.
 
2022-10-05 10:17:15 AM  
I'll give up my extra sausage gravy spending when I'm dead. I assume we're talking about the same ESG, right?
 
2022-10-05 10:39:36 AM  
<AllTheCEOs> Oh sweet, a fresh excuse to lay people off. Cool!

Why they even bother trying to make it believable is a mystery. You want to do it even if you were the most prosperous company on earth. It's power and they want to wield it.
 
2022-10-05 10:50:39 AM  

Rev.K: Imagine if individuals treated their families like businesses treat employees.

Sorry kids, times are tough, food is really expensive and school supplies edged up 8% this year! So we're cutting you loose to live on the streets. Maybe a new family will take you in, or maybe you can get a handful of dog food down at the local pound.

Your mom and I will still be taking our vacations, eating filet mignon and cognac for breakfast, and generally not changing our habits in any helpful way at all.

Ta ta!


We call that character building. If the little shiat can't make it on his own, how is he a benefit to society?

/kidding of course
 
2022-10-05 10:51:15 AM  
ESG, for many companies, is simply a function of marketing.  Marketing always gets cut first because if you think you will have a recession then you're planning to sell less so your marketing budget naturally gets cut.
 
2022-10-05 11:30:05 AM  
How is this type of "article" helpful to anyone? Even if true--and I have doubts--so what? It seems to imply a recommendation to sell everything and get ready to move into a van down by the river.

If everybody who read this "article" followed the implied advice, real estate and investment markets would crash because everybody would sell, seeking to convert all assets into cash to ride out the coming economic disaster. (Oh, wait.) Talk about self-fulfilling prophecies!

Yeah, this article is an example of how you (a) sell fear, and (b) create doom and gloom just before an election. Also an example of how to create buying opportunities through "trash and cash" manipulation.
 
2022-10-05 12:13:15 PM  
A lot of Fortune 500s have already hit pre-recession headcount targets by letting natural attrition take effect and not backfilling.

If you're lucky you work at a place that just ditched low-value tasks/process flows left by exiting boomers. If you weren't so lucky, in addition to your previous job description, now you have the added task of building some dumbass excel report that no one has looked at in 15 years.
 
2022-10-05 12:29:17 PM  
The Federal Reserve promised to destroy the job market, and I believe them.
 
2022-10-05 12:45:18 PM  
ESG?  Extra Sauce Gurus?
 
2022-10-05 1:26:45 PM  
ESG - Moody
Youtube SgS1_-oWkzY
 
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