In the wake of current recession and the Florida VS Disney skirmish, it appears that corporate leaders are realizing that their role is to actually make a profit and build their companies, not to cater to the political and social whims of some of their employees.
Got to love the coverage from REAL CLEAR's website. The site features a balance of both conservative and liberal news stories and does a great job of providing some honest reporting to boot. Visit the link for information on Markets, Health, Politics, Religion, Sports and other topics. Full story is at the link below but this will get you a good primer on the topic, is this a start of a new, less WOKE movement where corporations actually do what they are supposed to do?
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Got to love the coverage from REAL CLEAR's website. The site features a balance of both conservative and liberal news stories and does a great job of providing some honest reporting to boot. Visit the link for information on Markets, Health, Politics, Religion, Sports and other topics. Full story is at the link below but this will get you a good primer on the topic, is this a start of a new, less WOKE movement where corporations actually do what they are supposed to do?
Is the Woke Corporate 'Worm' Finally Turning?
More than a few executives appear to be glimpsing the high costs of politicized corporate management. A chief driver of these revelations is surely the rolling market correction that has characterized
Is the Woke Corporate 'Worm' Finally Turning?
Scott ShepardMay 20, 2022
More than a few executives appear to be glimpsing the high costs of politicized corporate management.
A chief driver of these revelations is surely the rolling market correction that has characterized 2022. At one point last week, the Nasdaq was down 29 percent from its December 31st close.
. . . As Jack Kennedy did not but might have said as a corollary: “a falling tide reveals many barnacles.”
In this lowering tide, woke is revealing itself as a barnacle, and companies are responding accordingly. The revelation is being assisted, and the response hastened, by external events that have uncovered even to the unthoughtful what should have been clear: taking a highly partisan role in American politics will engender (and is engendering) a political response from those who oppose the partisan stance. Exhibit one is the case of DeSantis & Florida v. Chapek & Disney, but the parade of horrible consequences that increasingly append to corporate wokeness is lengthening speedily, as has been considered in these pages before. Consider, for instance, exhibit two: Disney’s reputation has declined substantially since Chapek stood up for, you know, “all stakeholders.” Funny, that.
Given those prime exhibits, it seems proper to start with Disney. Chapek somehow remains as CEO, but a (potentially only interim) fall guy for the hurray-for-grooming debacle was found: Geoff Morrell, the company’s chief corporate affairs officer, who had been at Disney for all of about three months. . .
Perhaps more to the point, because less performative: Hulu, mostly owned by Disney, has just cancelled a project, two years in the making already, that would have fantasized about the career of an imaginary Hillary Clinton who had become a Northwestern University law professor, Naturally in this rendering, she becomes president – or she would have, until this partisan gagfest was cancelled.
In this move Disney and Hulu followed Netflix, which amid rounds of layoffs, informed its less objective (and less stable) employees that it would no longer bow to their “demands” that nothing air on Netflix that offends their precious sensibilities. In a display of maturity that can be summonsed by a 70 percent stock-value crash and evidence that there is no more market to gain on current trajectories, Netflix declared to employees that “depending on your role, you may need to work on titles you perceive to be harmful. If you’d find it hard to support our content breadth, Netflix may not be the best place for you.” . . .
