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Powerline Blog
Power Line
14 Jun 2023
Steven Hayward


NextImg:The Daily Chart: ESG-Whiz

The feel good headline/story of the day is yesterday’s news item in the Wall Street Journal about how corporations are starting noticeably to cool it with the diversity and ESG cliches. It seems watching Bud Light and Target lose sales and market cap value on behalf of trendy leftism is imparting a lesson:

Companies Quiet Diversity and Sustainability Talk Amid Culture War Boycotts

Companies’ mentions of green and social initiatives during earnings calls have fallen off sharply in recent quarters, reversing a more boastful approach taken over the past few years amid intensifying pressure from some investors and conservative activists.

The data look like this:

Chaser—The New Republic, a former magazine, reports:

Starbucks has banned Pride decorations in stores halfway through Pride Month, the company’s workers union claimed Tuesday. If true, it would be a stunning cave to far-right anti-LGBTQ fury—but the coffee chain denies that any such policy is in place.

Related:

White Starbucks Manager Fired Amid Furor Over Racism Wins $25 Million

A federal jury in New Jersey ordered Starbucks to pay $25.6 million to a former regional manager after determining that the company had fired her amid the fallout from the Rittenhouse Square episode because she was white.

The jury found that Starbucks had violated the federal civil rights of the former manager, Shannon Phillips, as well as a New Jersey law that prohibits discrimination based on race, awarding her $600,000 in compensatory damages and $25 million in punitive damages.

Gee—who knew that anti-discrimination law could be applied to everyone. It’s almost like “equality under the law” is regaining ground.