It works like this. BlackRock, Vanguard, Fidelity etc are the biggest shareholders. They require ESG and DEI. At first sight you might wonder why they require measures which lower profitability, but the truth is it only lowers the profitability of the corporation, for the investment management firm it's lucrative. You see, the corporation has to get 'ESG certified' and 'DEI certified'. Those certification are expensive and are sold (directly or indirectly) by BlackRock, Vanguard, Fidelity etc. It's a revenue stream for them, that's why they push it.
Thank you for explaining this. It sounds like Blackrock is the DEI Mafia. "Pay up and comply with our demands or you will get hurt." I wonder how they get away with this kind of extortion.
Certification is another layer of control that consumers pay for, added to the cost of producing and transporting products, to the cost of services. Data collected by certification companies is consolidated, sold, used for various purposes. Take a look at the labels on products and you'll see certification logos. Those logos represent a group that got a cut of the product, payment. In turn, you pay for that "service" even as you are taxed by government ensuring companies comply with laws and regs, costs layered on every product or service you buy. I cover the certification biz in my novel, The Dark Side of Hunger Mountain. Use the search engine to find those passages or just read the full book for a good summertime read. https://thedarksideofhungermountain.substack.com/
Just curious, is there data on race or gender of the employees who were killed or injured in those accidents. Maybe if they were white males, Marathon wouldn't even care?
I don’t understand why they would require 30% - the population doesn’t reflect that number of minorities (especially in certain areas) so it seems impossible in large parts of the US?
Prosecute, prosecute, prosecute. Follow the money (in this case, incentives), refer the case to the Feds, and prosecute.
At the same time, find someone who was super qualified and was either not hired or was passed over for a promotion because they were not of a preferred race or gender, and have them sue the company.
Marathon and other market-and-profit-driven companies were goaded into these polices by cultural winds, the previous Administration, and investors. Now they won't change back to sensible policies unless motivated by external forces (i.e., Federal attorneys).
They need to be prosecuted by the Feds and they also need to lose big money in civil cases.
Guess I should have directed my ire more clearly at the company and not at the writer. The point is that dei does not even approximate actual population statistics.
I saw the phrase “stakeholder’s interest” in there. Red flag. What makes me truly curious is what motivates these executives to put ESG and DEI (an outgrowth of ESG pressures) ahead of safety and core business matters? Is it a woke board? Is it some other outside force grading them on ESG “metrics”?
Sounds a lot like the FAA’s ATC experience. The Agency’s push for a more diverse controller and technician workforce came with an increase in incidents where planes got too close together. Coincidence?
This example of Marathon's infestation by DEI and its displacement of safety in a dangerous workplace is a new one, but the main fault I find with DEI is that it is the massive cudgel the radical left has long sought in their quest to eradicate freedom of speech. With groupspeak, they can get America to groupthink sooner and more easily. In Europe, where the wokes are not impeded by any equivalent of our First Amendment, it's working.
You can’t hate DEI enough.
It works like this. BlackRock, Vanguard, Fidelity etc are the biggest shareholders. They require ESG and DEI. At first sight you might wonder why they require measures which lower profitability, but the truth is it only lowers the profitability of the corporation, for the investment management firm it's lucrative. You see, the corporation has to get 'ESG certified' and 'DEI certified'. Those certification are expensive and are sold (directly or indirectly) by BlackRock, Vanguard, Fidelity etc. It's a revenue stream for them, that's why they push it.
Thank you for explaining this. It sounds like Blackrock is the DEI Mafia. "Pay up and comply with our demands or you will get hurt." I wonder how they get away with this kind of extortion.
Thank you! Black Rock, Vanguard and State Street control EVERYTHING - absolutely the highest concentration of money and power in the world
Pretty sick.
Certification is another layer of control that consumers pay for, added to the cost of producing and transporting products, to the cost of services. Data collected by certification companies is consolidated, sold, used for various purposes. Take a look at the labels on products and you'll see certification logos. Those logos represent a group that got a cut of the product, payment. In turn, you pay for that "service" even as you are taxed by government ensuring companies comply with laws and regs, costs layered on every product or service you buy. I cover the certification biz in my novel, The Dark Side of Hunger Mountain. Use the search engine to find those passages or just read the full book for a good summertime read. https://thedarksideofhungermountain.substack.com/
This nonsense will stop when the three investment firms face lawsuits and heavy punitive fines for destroying shareholder value.
Just curious, is there data on race or gender of the employees who were killed or injured in those accidents. Maybe if they were white males, Marathon wouldn't even care?
True, life itself, the very stuff equity is extracted from.
I’m so glad my white privileged ass who was only late to work once in my life is retired from getting to work at 4:30 am.
The best comment of the day!
it takes a village to get you to work on time ; )
Simply put, DEI kills.
How can you actively do something about Woke organizations and their "DEI"? You can STOP WORKING FOR THEM: "Workplaces to avoid if you are white, male, or straight": https://daveziffer.substack.com/p/workplaces-to-avoid-if-you-are-white
Sad when bureaucrat mandates outweigh facts and reason..
Sad --and obviously DANGEROUS
I don’t understand why they would require 30% - the population doesn’t reflect that number of minorities (especially in certain areas) so it seems impossible in large parts of the US?
Multiculturalism is the poison in the porridge.
Gender and race should be eliminated from application. Base on merit only.
It never is on the application. It is either inferred from the name or strategically embedded in the cover letter.
Looks like I’m done buying gas from Marathon. They were a great company too.
Prosecute, prosecute, prosecute. Follow the money (in this case, incentives), refer the case to the Feds, and prosecute.
At the same time, find someone who was super qualified and was either not hired or was passed over for a promotion because they were not of a preferred race or gender, and have them sue the company.
Marathon and other market-and-profit-driven companies were goaded into these polices by cultural winds, the previous Administration, and investors. Now they won't change back to sensible policies unless motivated by external forces (i.e., Federal attorneys).
They need to be prosecuted by the Feds and they also need to lose big money in civil cases.
Guess I should have directed my ire more clearly at the company and not at the writer. The point is that dei does not even approximate actual population statistics.
I saw the phrase “stakeholder’s interest” in there. Red flag. What makes me truly curious is what motivates these executives to put ESG and DEI (an outgrowth of ESG pressures) ahead of safety and core business matters? Is it a woke board? Is it some other outside force grading them on ESG “metrics”?
Sounds a lot like the FAA’s ATC experience. The Agency’s push for a more diverse controller and technician workforce came with an increase in incidents where planes got too close together. Coincidence?
This example of Marathon's infestation by DEI and its displacement of safety in a dangerous workplace is a new one, but the main fault I find with DEI is that it is the massive cudgel the radical left has long sought in their quest to eradicate freedom of speech. With groupspeak, they can get America to groupthink sooner and more easily. In Europe, where the wokes are not impeded by any equivalent of our First Amendment, it's working.