Rambling on ESG and DEI
Out of the fear and panic of Covid, came ESG and DEI. Arising from Europe’s stakeholder philosophy, brought across the sea by big investors, BlackRock and others. Enabled by cancel culture forbidding free speech. Entrenched by big tech, as Facebook and Twitter deplatformed anyone brave enough to speak of these things. Joined by BLM and Defund the Police, movements dedicated to creating and maintaining racial division. Exhorted by failed corporate media, longing for the power they once had.
Corporations were suddenly threatened with boycotts if they didn’t toe the ESG and DEI lines. Compliance offices were opened in corporate headquarters across the nation. Millions of dollars were wasted on DEI training and ESG priorities, in opposition to investor interests. BLM badges showed up on corporate websites across the internet.
The US Federal Government, under Joe Biden’s neglect, went all in. I think it was mostly Jill, wanting to be invited to the best parties with the European socialites. Who really knows, but under Biden, the USGOV implemented ESG and DEI across the vast bureaucracy.
Thanks to Elon Musk, freedom of speech was restored on Twitter. We can finally talk about this garbage, and not be shut down because of it. Cancel culture got itself canceled. With great effort, Donald Trump won a 2nd term, and he started unrolling the Biden era lapse in sanity. It’s contagious, this newfound sanity… Facebook came along, as did many of the big American company boardrooms. Unfortunately, the big international concerns aren’t joining in on the fun.
Bud Light spotlighted the problem. Here’s a great American company, with a product that’s as American as apple pie… now owned by a multinational company with roots in Europe. They still haven’t admitted that what they did was wrong. As long as Anheuser Bush remains part of InBev, I don’t believe they’ll ever recover the staggering market losses they’ve suffered.
Add Harley Davidson to the mix. Their German CEO, with his background in sustainability, kicks his American customers in the teeth with his support of ESG and DEI causes, vowing to go ‘all electric’ at HD, and managing to alienate the most brand loyal customers in the nation. They’ve rolled back some, but never admitted fault. Zeitz is still there… and as long as he is, their financial troubles will continue. I, for one, won't be buying HD again while Zeitz is around.
As part of ‘Make America Great Again’, bringing manufacturing back to the USA, we need to consider restoring American ownership to great American brands. I’m not talking about a Tic-Toc sort of ultimatum, just saying that our great US brands will prosper more under US ownership, with US friendly policies and leadership.