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Are CEOs actually getting woke?
Posted on 7/1/22 at 10:48 am
Posted on 7/1/22 at 10:48 am
I heard a fascinating interview on America 1st news radio this morning regarding a recent study on CEO political affiliation.
The takeaways:
The majority of CEOs are registered Republicans.
The high level advisers, called 'C-Suite guys' are majority Democrats.
This apparently happens because once a Dem is hired and is asked for advice on new spots by the CEO the Dem only recommends fellow lefties.
The C-Suite lefties give the CEO a false impression of 'what the customers want' and so the company goes woke in policy and advertising.
The fascinating statistic is that shortly after public displays of wokeness the companies show a decline in profits and stock prices. They are misreading the public.
The takeaways:
The majority of CEOs are registered Republicans.
The high level advisers, called 'C-Suite guys' are majority Democrats.
This apparently happens because once a Dem is hired and is asked for advice on new spots by the CEO the Dem only recommends fellow lefties.
The C-Suite lefties give the CEO a false impression of 'what the customers want' and so the company goes woke in policy and advertising.
The fascinating statistic is that shortly after public displays of wokeness the companies show a decline in profits and stock prices. They are misreading the public.
17
Posted on 7/1/22 at 10:52 am to Zach
It really is fascinating. I just don't think the adage of "well if it wasn't making them money they wouldn't do it" is really holding up. Two thoughts -
- First, we've been forcing wokeness into boardrooms for a couple of decades, so the idea that it's not going to eventually result in some true believers (even with absurdly hypocritical outlooks) is silly. Presumably some of these people really believe it, and that number might grow.
-Second, I think there is a deep, self-defense mechanism here. And I don't mean Coke making their Twitter logo rainbow to avoid bad press and a small drop in sales. I mean a collective belief among the wealthy elites that one day the masses are going to be at their door, and the use of culturally divisive issues, and then siding with the violent side, is a way to buy time in the near term. It's basically that cartoon about CEOs, etc. getting spooked by Occupy and being woke as hell 10 years later to appease the same people.
- First, we've been forcing wokeness into boardrooms for a couple of decades, so the idea that it's not going to eventually result in some true believers (even with absurdly hypocritical outlooks) is silly. Presumably some of these people really believe it, and that number might grow.
-Second, I think there is a deep, self-defense mechanism here. And I don't mean Coke making their Twitter logo rainbow to avoid bad press and a small drop in sales. I mean a collective belief among the wealthy elites that one day the masses are going to be at their door, and the use of culturally divisive issues, and then siding with the violent side, is a way to buy time in the near term. It's basically that cartoon about CEOs, etc. getting spooked by Occupy and being woke as hell 10 years later to appease the same people.
Posted on 7/1/22 at 10:59 am to Zach
quote:
The majority of CEOs are registered Republicans
I would like to see a breakdown by company size.
Most large multinationals will likely have Democrat CEOs.
Any CEO under 40 from an Ivy league will be damn near an activist.
Posted on 7/1/22 at 11:01 am to Zach
quote:
The majority of CEOs are registered Republicans.
The high level advisers, called 'C-Suite guys' are majority Democrats.
I wonder how much of this phenomenon is due to corporations' tendency to lean on Ivy League products to fill out their top floor leadership. The Ivy League, in many ways, is where the "woke" phenomenon was born and has developed.
Posted on 7/1/22 at 11:02 am to Zach
The ESG score established by the WEF is used on the S&P500 is forcing this. If they don't go woke, blackrock won't provide them with cash investments.
Posted on 7/1/22 at 11:03 am to Zach
My company recently was purchased by a woke public company. Our old company's CEO's and C-Suite execs are all pure conservatives. The new public company's executives are all super woke. I see a shift of our old leadership retiring and the public company will replace with woke idiots I'm sure.
For the record, the public company's stock price has been on a ride down the hill for the last 5 years. I don't really care. I get my paycheck until I don't. Once I don't get a paycheck, I'll move on to a company that has seemingly conservative leadership.
Another topic of discussion: how do you vet a potential employer's leanings? Guessing public will be easier than private companies.
For the record, the public company's stock price has been on a ride down the hill for the last 5 years. I don't really care. I get my paycheck until I don't. Once I don't get a paycheck, I'll move on to a company that has seemingly conservative leadership.
Another topic of discussion: how do you vet a potential employer's leanings? Guessing public will be easier than private companies.
Posted on 7/1/22 at 11:04 am to TigerB8
quote:
The ESG score established by the WEF is used on the S&P500 is forcing this. If they don't go woke, blackrock won't provide them with cash investments.
This. A CEO can be a whatever political affiliation, but he has a fiduciary duty to shareholders. WEF is blackmailing corporate America through ESG.
This post was edited on 7/1/22 at 11:06 am
Posted on 7/1/22 at 11:04 am to TigerB8
quote:
The ESG score established by the WEF is used on the S&P500 is forcing this. If they don't go woke, blackrock won't provide them with cash investments.
This is the correct answer. frick Larry Fink and the rest of the Blackrock trash.
Posted on 7/1/22 at 11:04 am to Zach
No, they just want to market their products to liberals. They only care about money that's it. We can make corporations go un-woke if we hold back our money and not support Disney, Netflix, etc. We conservatives are just not united enough to do that. If you want to change this culture, it must reflect our pocket book.
This post was edited on 7/1/22 at 11:06 am
Posted on 7/1/22 at 11:04 am to Zach
I don't think it's so much about "going woke" as it is embracing leftist levels of regulation that chokes the life out of small/intermediate sized businesses thus removing competition. Big corporations can absorb the costs. Small businesses cannot.
Posted on 7/1/22 at 11:10 am to Zach
Most of these guys are getting forced into this by ESG. Black rock, vanguard, state street.
I know a CEO of a Fortune 500 that is MAGA AF but has no choice but to push pride month due to being publicly traded company.
I also had a conversation with the president of a regional bank about if ESG stuff is being pushed on him. He said that it is, but they have enough revenue that they don’t need capital but the pressure is coming for sure.
I know a CEO of a Fortune 500 that is MAGA AF but has no choice but to push pride month due to being publicly traded company.
I also had a conversation with the president of a regional bank about if ESG stuff is being pushed on him. He said that it is, but they have enough revenue that they don’t need capital but the pressure is coming for sure.
Posted on 7/1/22 at 11:23 am to tiggerthetooth
quote:
Any CEO under 40 from an Ivy league will be damn near an activist.
The CEO of my organization is a Harvard grad in his mid-40s. He's certainly in the "woke" crowd category or at least pays lip service to it.
Posted on 7/1/22 at 11:29 am to Zach
Dem ground game is impressive if nothing else.
Fanatical
Fanatical
Posted on 7/1/22 at 11:32 am to MadQfrog
quote:
They only care about money that's it.
But they're losing money. This was not an opinion piece. He was citing the info from a statistical study.
Edit: The study was from 3 colleges. From memory it was Yale, U. Chicago and Boston College.
This post was edited on 7/1/22 at 11:35 am
Posted on 7/1/22 at 11:43 am to Zach
quote:
The C-Suite lefties give the CEO a false impression of 'what the customers want' and so the company goes woke in policy and advertising
That’s not what’s happening. It’s ESG
Posted on 7/1/22 at 1:30 pm to Zach
quote:Would love to see this, do you have a link?
The fascinating statistic is that shortly after public displays of wokeness the companies show a decline in profits and stock prices. They are misreading the public.
Posted on 7/1/22 at 1:33 pm to TigerB8
quote:
ESG
/thread
Posted on 7/1/22 at 1:33 pm to Zach
CEO's are generally guys who don't like to make waves and go with the flow.
You really don't get to the top by pissing off a lot of people. You get there by kissing a lot of arse.
You really don't get to the top by pissing off a lot of people. You get there by kissing a lot of arse.
Posted on 7/1/22 at 1:37 pm to Zach
I think most CEOs are merely pandering to their employee bases.....
They are giving the young LEFT who are employed a ltlle boost....and guess what?
The CEOs don't give one shite about thier employess....they are all about shareholder equity, period!
They are giving the young LEFT who are employed a ltlle boost....and guess what?
The CEOs don't give one shite about thier employess....they are all about shareholder equity, period!
Posted on 7/1/22 at 1:51 pm to Zach
If the government pays for all healthcare, then the corporation won't have to.
If the government raises taxes on the corporation, they'll just bake it into their prices to the consumers.
If the government gives more and more away in welfare and handouts, essentially making poor people middle class, that's more potential customers for the corporation.
If the government gives more and more money away in various "investments" in energy projects or in the military industrial space, or in the healhcare space, the corporations love that.
When big corporations frick up and face bankruptcy, and the government and tax payers bail them out, they love that.
Most coprorations actually benefit from many leftist actions. As long as the lefties don't go full commie and seize the means of production, most corporations, large ones especially, love it.
Edit- and ESG is influencing even the non-woke corporations as described above.
If the government raises taxes on the corporation, they'll just bake it into their prices to the consumers.
If the government gives more and more away in welfare and handouts, essentially making poor people middle class, that's more potential customers for the corporation.
If the government gives more and more money away in various "investments" in energy projects or in the military industrial space, or in the healhcare space, the corporations love that.
When big corporations frick up and face bankruptcy, and the government and tax payers bail them out, they love that.
Most coprorations actually benefit from many leftist actions. As long as the lefties don't go full commie and seize the means of production, most corporations, large ones especially, love it.
Edit- and ESG is influencing even the non-woke corporations as described above.
This post was edited on 7/1/22 at 1:54 pm
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