{"id":1497750,"date":"2022-05-31T08:00:29","date_gmt":"2022-05-31T12:00:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1497750"},"modified":"2022-05-31T08:00:41","modified_gmt":"2022-05-31T12:00:41","slug":"brad-anderson-has-america-reached-peak-woke-capitalism","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brad-anderson-has-america-reached-peak-woke-capitalism\/","title":{"rendered":"Brad Anderson: Has America Reached Peak Woke Capitalism?"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbrad-anderson-has-america-reached-peak-woke-capitalism%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1497750&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>Has woke capitalism finally peaked? Recent indications suggest that it has. That\u2019s good news for shareholders who have seen their savings and 401(k) accounts threatened by companies that put politics ahead of profits.\u00a0<u><\/u><\/p>\n<p>Observe the\u00a0recent\u00a0news of Tesla being kicked off the S&#038;P Dow Jones Indices Environmental, Social, and Governance (ESG) investment index. Tesla has arguably done more for the environment than any company in recent history by taking hundreds of thousands of internal-combustion automobiles off the roads. If it isn\u2019t an ESG company, then no company is. The Orwellian top\u00a0<a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.indexologyblog.com_2022_05_17_the-2Drebalancing-2Dact-2Dof-2Dthe-2Dsp-2D500-2Desg-2Dindex_-23link-3D-257B-2522role-2522-3A-2522standard-2522-2C-2522href-2522-3A-2522https-3A__www.indexologyblog.com_2022_05_17_the-2Drebalancing-2Dact-2Dof-2Dthe-2Dsp-2D500-2Desg-2Dindex_-2522-2C-2522target-2522-3A-2522-2522-2C-2522absolute-2522-3A-2522-2522-2C-2522linkText-2522-3A-2522Tuesday-2520blog-2520post-2522-257D&#038;d=DwMFaQ&#038;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&#038;r=ut9gWRx5UjlMHxyWdE-zTf8_Px_hu0XGvMZCBplfnnjxzM8ynok62aI4_FU5HQAl&#038;m=DBqjOTRBrQGBjTU_wKyXyCUwRBWjbjCEHZoSrhs5gfA&#038;s=yx8eWJTOAG0lhZr5KskVD3O5IBTxjNUv5Y_VTCJ6Y00&#038;e=\">reason<\/a>\u00a0S&#038;P DJI gave for the ESG downgrade: \u201cTesla\u2019s (lack of) low carbon strategy.\u201d<\/p>\n<p>\u201cESG is a scam,\u201d\u00a0<a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.dailymail.co.uk_news_article-2D10832171_Elon-2DMusk-2Dlashes-2DS-2DP-2D500-2DESG-2DIndex-2DTesla-2Dremoved.html&#038;d=DwMFaQ&#038;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&#038;r=ut9gWRx5UjlMHxyWdE-zTf8_Px_hu0XGvMZCBplfnnjxzM8ynok62aI4_FU5HQAl&#038;m=DBqjOTRBrQGBjTU_wKyXyCUwRBWjbjCEHZoSrhs5gfA&#038;s=_lT1BnFw6pd_AHEeB_0-tq98B76iGDLhFlqTrxrQtTk&#038;e=\">tweeted<\/a> Musk in response, pointing out oil giant Exxon Mobil\u2019s top-10 ESG rank. \u201cIt\u2019s been weaponized by phony social justice warriors.\u201d Musk also tweeted that the downgrade is \u201ca clear case of wacktivism.\u201d By exposing ESG for the farce it is, Musk can give other companies the courage to stand up to intense ESG demands that threaten their margins and shareholders. <strong><a href=\"https:\/\/dailycaller.com\/2022\/05\/23\/boardroom-initiative-woke-corporations\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Conservative Investors Launch Campaign To Take On America\u2019s \u2018Wokest\u2019 Corporations)<\/a><\/strong><\/p>\n<p>Consider also the ongoing\u00a0<a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.nytimes.com_2022_05_04_business_abortion-2Dcorporate-2Damerica-2Dsilence.html&#038;d=DwMFaQ&#038;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&#038;r=ut9gWRx5UjlMHxyWdE-zTf8_Px_hu0XGvMZCBplfnnjxzM8ynok62aI4_FU5HQAl&#038;m=DBqjOTRBrQGBjTU_wKyXyCUwRBWjbjCEHZoSrhs5gfA&#038;s=T5DQeVtngWRZufdmDR-rKg-XZPrdOitvKHvJYR-lUNI&#038;e=\">silence<\/a>\u00a0among American corporations in the wake of the recent Supreme Court draft decision overturning Roe vs. Wade. This lack of response is a stark departure from companies\u2019 routine political statements in recent years in an attempt to seem woke.<\/p>\n<p>Tight-lipped companies may have learned a lesson from Disney, which recently\u00a0<a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__deadline.com_2022_04_disney-2Dflorida-2Ddont-2Dsay-2Dgay-2Dbacklash-2Dimpact-2Dhollywood-2Dstudios-2D1234994109_&#038;d=DwMFaQ&#038;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&#038;r=ut9gWRx5UjlMHxyWdE-zTf8_Px_hu0XGvMZCBplfnnjxzM8ynok62aI4_FU5HQAl&#038;m=DBqjOTRBrQGBjTU_wKyXyCUwRBWjbjCEHZoSrhs5gfA&#038;s=ufs1Ef44aYjU9tKzVCPSn5kBMfr1Na7unqs-Wma0Izo&#038;e=\">vocally opposed<\/a>\u00a0a new Florida law forbidding public school teachers from discussing gender and sexual orientation with kindergartners. Disney\u2019s share price has crumbled in the face of consumer backlash against the company\u2019s stance and Florida\u2019s response to strip it of its special governing status.<\/p>\n<p>A leaked\u00a0<a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.businessinsider.com_zeno-2Dpr-2Dcompany-2Dabortion-2Drights-2Droe-2Dv-2Dwade-2Doverturn-2D2022-2D5&#038;d=DwMFaQ&#038;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&#038;r=ut9gWRx5UjlMHxyWdE-zTf8_Px_hu0XGvMZCBplfnnjxzM8ynok62aI4_FU5HQAl&#038;m=DBqjOTRBrQGBjTU_wKyXyCUwRBWjbjCEHZoSrhs5gfA&#038;s=1mJpjBNXrE9qbUiFqa3Vxz2a_zM_i4BqMXC9HuNqf5c&#038;e=\">memo<\/a>\u00a0by an executive at a major corporate PR firm, the Zeno Group, a subsidiary of the PR giant Edelman, helps explain why companies are finally keeping their mouths shut. The firm, which represents big companies such as Starbucks and Coca-Cola, advised its clients to \u201cnot take a stance\u201d on the Supreme Court decision.<\/p>\n<p>\u201cThis topic is a textbook \u201950\/50\u2032 issue. Subjects that divide the country can sometimes be no-win situations for companies because regardless of what they do they will alienate at least 15 to 30 percent of their stakeholders,\u201d explained the memo. \u201cDo not assume that all of your employees, customers or investors share your view.\u201d While this advice addresses abortion, its instructions can apply to most political topics.<\/p>\n<p>Perhaps in an attempt to capitalize on Disney\u2019s misfortune, Netflix recently released\u00a0<a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__www.fox7austin.com_news_netflix-2Dtells-2Demployees-2Dto-2Dquit-2Dif-2Dtheyre-2Doffended-2Dby-2Dnew-2Dculture-2Dmemo&#038;d=DwMFaQ&#038;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&#038;r=ut9gWRx5UjlMHxyWdE-zTf8_Px_hu0XGvMZCBplfnnjxzM8ynok62aI4_FU5HQAl&#038;m=DBqjOTRBrQGBjTU_wKyXyCUwRBWjbjCEHZoSrhs5gfA&#038;s=NmHTbbxKRIO6a2ys5ZXYczvLxHLTcpQZQ2w8TAGj258&#038;e=\">a culture memo<\/a>\u00a0to its employees promising not to cave to the woke mob regarding its content. \u201cDepending on your role, you may need to work on titles you perceive to be harmful,\u201d the memo advises employees. \u201cIf you\u2019d find it hard to support our content breadth, Netflix may not be the best place for you.\u201d<\/p>\n<p>One of the most intractable forms of woke capitalism is corporate employment policy that prioritizes race over merit for hiring and promotions. The\u00a0<a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__boardroominitiative.org_&#038;d=DwMFaQ&#038;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&#038;r=ut9gWRx5UjlMHxyWdE-zTf8_Px_hu0XGvMZCBplfnnjxzM8ynok62aI4_FU5HQAl&#038;m=DBqjOTRBrQGBjTU_wKyXyCUwRBWjbjCEHZoSrhs5gfA&#038;s=ohgwk1ETJSBDIZ0Hr-trvfOjCm78736Pa1BfkpPFdPQ&#038;e=\">Boardroom Initiative<\/a>, a new coalition of organizations fighting for shareholders\u2019 rights that I co-chair, is trying to identify and root out such discriminatory \u201canti-racism\u201d employment practices.<\/p>\n<p>We have launched a series of shareholder proposals at recent and upcoming annual board meetings of big companies such as Twitter, Facebook, Comcast and Walmart calling for outside audits of company hiring and promotions practices. We have a clear message for corporate America: Stick to business interests and stay out of divisive politics that threaten shareholders.<\/p>\n<p>Major companies such as <a href=\"https:\/\/boardroominitiative.org\/app\/uploads\/2022\/04\/6a9964_d05b651ca53f49628e559be5181af128.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">American Express, Verizon, Pfizer and CVS<\/a> have already been exposed for using such discriminatory employment practices. A hiring manager from the tech company Dropbox is <a href=\"https:\/\/urldefense.proofpoint.com\/v2\/url?u=https-3A__twitter.com_gregg-5Fre_status_1524124612505833473&#038;d=DwMFaQ&#038;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&#038;r=ut9gWRx5UjlMHxyWdE-zTf8_Px_hu0XGvMZCBplfnnjxzM8ynok62aI4_FU5HQAl&#038;m=DBqjOTRBrQGBjTU_wKyXyCUwRBWjbjCEHZoSrhs5gfA&#038;s=lJOI_JUZVaxNuJdh3xcSdZ7gPmQ5eF6TgE5d3n3OfSg&#038;e=\">advertising<\/a> a <a href=\"https:\/\/www.bizpacreview.com\/2022\/05\/12\/hiring-manager-at-dropbox-admits-she-favors-others-over-white-people-could-use-less-of-them-in-her-life-1236949\/\" target=\"_blank\" rel=\"noopener noreferrer\">job opening for which she will \u201cprioritize\u201d applicants by race<\/a>. She appears to have tweeted in the past the she needs \u201cless white people\u201d in her life.<\/p>\n<p>The role of American corporations is to reward their shareholders. In fact, this responsibility is their fiduciary duty by law. Individual shareholders are then free to use their portion of company profits to support the political causes they choose. To the extent companies put woke capitalism \u2014 whether it comes in the form of ESG scores, company politicking, or diversity hires \u2014 above their shareholders, they must be held accountable.<\/p>\n<p>In today\u2019s climate of financial market turmoil, woke capitalism\u2019s apparent pullback is one of the few positive signs for shareholders.<\/p>\n<p><em>Brad Anderson is co-chair of the Boardroom Initiative, former CEO and Vice Chairman of Best Buy, and a member of Job Creators Network.<\/em><\/p>\n<p><em>The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.<\/em><\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Has woke capitalism finally peaked? Recent indications suggest that it has. That\u2019s good news for shareholders who have seen their savings and 401(k) accounts threatened by companies that put politics<\/p>\n","protected":false},"author":489,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1497750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1497750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/489"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1497750"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1497750\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1497750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1497750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1497750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}