Economy Blackrock laying off employees from ESG division while abandoning ESG/DEI narrative's amid $4 Billion Losses

[rearnakedchoke]

Cope and seeth. When people try the ideas and concepts you believe in, they lose 5 trillion dollars.

I’m not seething at anything. This is a discussion.

 

[ColemanwastheGOAT]

I’m not seething at anything. This is a discussion.

Are they 'scaling back' (see: abandoning) DEI because it was so successful?

 

[rearnakedchoke]

Are they 'scaling back' (see: abandoning) DEI becuse it was so successful?

Not sure. I’m sure it wasn’t the only thing to contribute to 5 trillion in losses.

How much do you think they spent on it, if it’s in the OP forgive me. But to think any one program can lead to that much loss seems odd.

I’m not too familiar with their program in particular. If they didn’t deploy it correctly, maybe scaling back is looking at how they can ensure the program evolves. Like I said. Not too familiar with this program, but for every poor rollout, you will have multiple success stories.

 

[Goatenstein]

The old race card.

DEI is a racist concept whether you like it or not.

You are a racist whether you like it or not.

 

[Scerpi]

You are a racist whether you like it or not.

How I know you have zero intellectual ability to reply to topics being discussed

Oh, I'm so offended... tragic

 

[Wrath of Foamy]

Flashback Video - Larry Fink - CEO of Blackrock - Explaining how Blackrock uses its massive financial influence to "Force Behaviors" (for ESG/DEI) from Corporations

Investments in trendy 'ESG' assets collapsed by $5 trillion in just two years,​

Woke capitalism comeuppance: ESG assets tanked by $5 trillion in 2 yrs

'Sustainable bonds make for bad investments when they meet the radical left's definition of sustainable, and when they don't, Wall Street greenwashes them to justify the higher fees,' said Will Hild.

www.dailymail.co.uk

Global investments in trendy sustainability assets shrank by nearly $5 trillion over two years, researchers say, as US and other financiers soured on investments seen as risky and opaque.

In its biannual assessment, the Global Sustainable Investment Alliance (GSIA) said on Wednesday that investors had $30.3 trillion in sustainable assets in 2022, down from $35.3 trillion in 2020.

In the US, where Republicans have railed against ESG funds, which push for environmental, social, and governance benefits, such assets plunged from more than $17 trillion to just $8.4 trillion over the same period.


Not terribly shocking... As using ESG as a base of investment strategy is complete retarded.

The latest Prime example is Boeing's ongoing saga. Boeing's 737 Max has turned into a giant clusterfuck of multiple issues. Maybe its coincidence?

​

Boeing's ongoing 737 MAX crisis​

https://www.reuters.com/business/aerospace-defense/boeings-ongoing-737-max-crisis-2024-01-06/

CTOBER 2018: A Lion Air MAX plane crashes in Indonesia, killing all 189 people on board.

NOVEMBER 2018: The FAA and Boeing say they are evaluating the need for software or design changes to 737 MAX jets following the Lion Air crash.

MARCH 2019: An Ethiopian Airlines MAX crashes, killing all 157 people on board. China's aviation regulator becomes the first in the world to ground the MAX, followed by others including the U.S. Federal Aviation Administration.

APRIL 2019: The FAA forms an international team to review the safety of the 737 MAX. Boeing cuts monthly production by nearly 20%.

JULY 2019: Boeing posts its largest-ever quarterly loss.

SEPTEMBER 2019: Boeing's board of directors creates a permanent safety committee to oversee development, manufacturing and operation of its aircraft.

OCTOBER 2019: Boeing fires Kevin McAllister, the top executive of its commercial airplanes division.

DECEMBER 2020: The company fires CEO Dennis Muilenburg in the wake of the twin crashes.

JANUARY 2020: Boeing suspends 737 production, its biggest assembly-line halt in more than 20 years.

MAY 2020: Boeing resumes 737 MAX production at a "low rate."

JUNE 2020: Boeing begins a series of long-delayed flight tests of its redesigned 737 MAX with regulators at the controls.

SEPTEMBER 2020: An 18-month investigation by a U.S. House of Representatives panel finds Boeing failed in its design and development of the MAX as well as its transparency with the FAA, and that the FAA failed in oversight and certification.

NOVEMBER 2020: The U.S. FAA lifts the grounding order, allowing the 737 MAX to fly again.

DECEMBER 2020: Congress passes legislation to reform how the FAA certifies new airplanes, including requiring manufacturers to disclose certain safety-critical information to the FAA.

JANUARY 2021: The European Union Aviation Safety Agency approves the MAX's return to service in Europe.

MARCH 2021: China's aviation regulator says major safety concerns with the MAX needed to be "properly addressed" before conducting flight tests.

APRIL 2021: Boeing halts 737 MAX deliveries after electrical problems re-ground part of the fleet.

NOVEMBER 2021: Current and former Boeing company directors reach a $237.5 million settlement with shareholders to settle lawsuits over safety oversight of the 737 MAX.

OCTOBER 2022: The FAA tells Boeing that some key documents submitted as part of the certification review of the 737 MAX 7 are incomplete and others need a reassessment.

DECEMBER 2022: Congress agrees to extend a deadline for new standards for modern cockpit alerts stemming from the 2020 legislation after intense lobbying from Boeing.

APRIL 2023: Boeing pauses deliveries of some 737 MAXs to deal with a new supplier quality problem involving noncompliant fittings.

JULY 2023: Boeing's first delivery of the 737 MAX 7 is delayed to 2024.

AUGUST 2023: Boeing identifies a new 737 MAX supplier quality problem involving improperly drilled holes on the aft pressure bulkhead.

SEPTEMBER 2023: Boeing 737 MAX deliveries fall to their lowest levels since August 2021.

DECEMBER 2023: Boeing makes its first direct delivery of a 787 Dreamliner to China since 2019, seen as a precursor to China potentially unfreezing deliveries of the 737 MAX.

JANUARY 2024: An Alaskan Air flight is forced to conduct an emergency landing after a cabin panel blowout on a brand-new 737 MAX 9 plane. The U.S. FAA grounds certain 737 MAX 9 aircraft for safety checks.


But hey... Boeing's focus on DEI is completely on point.

Would bang Irah.

 

[ColemanwastheGOAT]

Not sure.

It's because it's a failed initiative.

 

[ColemanwastheGOAT]

I'd imagine they did think it would be profitable. These guys only look at people as statistics. All the little details don't matter. They think forced diversity will expand their influence globally.

Stephanie McMahon of all people kind of revealed the game years ago when she said the quiet part out loud.

It's all a grift.

 

[RoastBeast]

Well, seems like there is a lot of misconceptions about DEI programs. It isn’t just, hey, let’s hire some colored folk and we are done. A lot of it is education, training, policy review. Diverse opinions can have a positive effect on business and company culture.

Unconscious bias is a real thing. People like to use the argument that this leads to not hiring the most qualified person. How do we know we were hiring the most qualified or best person?

DEI programs train leaders to understand these concepts so that decisions during hiring are made with these in mind.

What are they being diverse from?

 

[chardog]

I think the multinational corporation with countless billions at its disposal and entire buildings full of analysts and researchers, probably know more about what's going to make the most money, than you do.

I would say that this is the lamest appeal to authority I've seen then scrolled down to this

They just lost trillions you dumb shit

Don't you know how to read?

warroom dont take prisoners

 

[rearnakedchoke]

What are they being diverse from?

They are making their companies welcoming to all and realize the benefit of diverse opinions, while creating a sense of belonging for those already there. Some
Companies may already be diverse, but strengthening the program leads to further benefits.

 

[Scerpi]

Interesting... Seriously from a company like Boeing...



Honestly, it might be coincidence... then again, maybe not.



Imagine, selecting vendors and subcontractors to build airplanes based on their ESG scores.

 

[Scerpi]

 

[PoundForPound]

The old race card.

DEI is a racist concept whether you like it or not.

And yet you can't seem to explain actual data.

You must be either an idiot or a racist.

I am being nice and giving you an opening to save face on one, but it appears you're both.

 

[Scerpi]

And yet you can't seem to explain actual data.

You must be either an idiot or a racist.

I am being nice and giving you an opening to save face on one, but it appears you're both.

Explain what?

DEI = Racist & Discriminatory

You're making choices based solely on race and gender.

I'm very pro Equality of Opportunity. I've said this several times. Well meaning lefties think they're solving a problem with their DEI goals. But it fails miserably in the real world. And if you're selecting an inferior candidate because of race or gender, then you should be sued into oblivion. And I made a lengthy post earlier with my experience in my field. I also have experience with helping a friend from the Islands get his MBE Certification. He's an excellent subcontractor, but General Contractors for years have been begging him to get his MBE so he can help them meet their MWBE goals. After I helped him get his certification, he's able to submit bids up to 50% higher than his competitors because they need his participation to meet City and Federal goals. lol... Honestly, I'm glad I helped him. He's a great guy and might as well use the system to help a friend make more money even if I think the system is complete garbage. Because at its root, its discriminatory. He's being selected as a subcontractor not because his bid is lower than the next guy, it's because he's black and meets a MBE quota. Oh well... fuck those other white subcontractors right? lol... Y'all love that shit. And if you think that, then You're the racist fuck. And there's plenty of posters who think it's perfectly acceptable to fuck over whitey because somehow we deserve it. lol

Equality and Equity are polar opposites on the spectrum. Do we need to have another discussion on Ivy League University admission criteria and how discriminatory it is?

You can think I'm idiot... lol. I don't give a fuck. But I'm not racist. Just extremely anti-discriminatory practices.

 

[RoastBeast]

They are making their companies welcoming to all and realize the benefit of diverse opinions, while creating a sense of belonging for those already there. Some
Companies may already be diverse, but strengthening the program leads to further benefits.

Diverse from what?

 

[rearnakedchoke]

Diverse from what?

If you are asking demographically, I’m not sure. I don’t have that info on black rock.

 

[RoastBeast]

If you are asking demographically, I’m not sure. I don’t have that info on black rock.

You aren't sure which demographic companies are attempting to be diverse from? Come on man, you know damn well exactly which demographic they're attempting to be diverse from.

If saying the reality of something you support sounds racist, sexist or discriminatory, maybe the thing you support isn't actually as good as you think it is.

 

[rearnakedchoke]

Explain what?

DEI = Racist & Discriminatory

You're making choices based solely on race and gender.

I'm very pro Equality of Opportunity. I've said this several times. Well meaning lefties think they're solving a problem with their DEI goals. But it fails miserably in the real world. And if you're selecting an inferior candidate because of race or gender, then you should be sued into oblivion. And I made a lengthy post earlier with my experience in my field. I also have experience with helping a friend from the Islands get his MBE Certification. He's an excellent subcontractor, but General Contractors for years have been begging him to get his MBE so he can help them meet their MWBE goals. After I helped him get his certification, he's able to submit bids up to 50% higher than his competitors because they need his participation to meet City and Federal goals. lol... Honestly, I'm glad I helped him. He's a great guy and might as well use the system to help a friend make more money even if I think the system is complete garbage. Because at its root, its discriminatory. He's being selected as a subcontractor not because his bid is lower than the next guy, it's because he's black and meets a MBE quota. Oh well... fuck those other white subcontractors right? lol... Y'all love that shit. And if you think that, then You're the racist fuck. And there's plenty of posters who think it's perfectly acceptable to fuck over whitey because somehow we deserve it. lol

Equality and Equity are polar opposites on the spectrum. Do we need to have another discussion on Ivy League University admission criteria and how discriminatory it is?

You can think I'm idiot... lol. I don't give a fuck. But I'm not racist. Just extremely anti-discriminatory practices.

DEI programs work. The problem is, the company rolling them out. Look at the companies in the news for having problems with it. Those companies also have issues with nepotism hires (many companies do), but you that is rarely seen as an issue compared to DEI “hires”. People like to justify nepotism as the best people being hired also. I find that more difficult to believe. I wonder why.

 

[rearnakedchoke]

You aren't sure which demographic companies are attempting to be diverse from? Come on man, you know damn well exactly which demographic they're attempting to be diverse from.

If saying the reality of something you support sounds racist, sexist or discriminatory, maybe the thing you support isn't actually as good as you think it is.

If you are suggesting there is a demographic being targeted, maybe they are over represented and under qualified and worried that the gig is up. Not sure why you are so cryptic.