Maybe some folks are actually waking up to the get woke, go broke mantra…
Maybe the lessons of the Bud Light disaster are starting to sink in.
In a sign that American investors aren’t happy with the “go woke, go broke” ideas taking hold in too many corporate offices, Coca-Cola Co. shareholders last week soundly rejected three proposals pushed by leftist activists to push the company further into leftist causes.
And while Coca-Cola is hardly a paragon of conservative positions, the votes could well mean that even liberal-leaning corporations are seeing the costs to their bottom lines.
Full article HERE, from the Western Journal.
I just wonder how many other companies are now ‘rethinking’ their policies and procedures going forward after the SVB collapse, Disney’s situation, and now AB’s screwing the pooch.
2019 (January): Gillette (Proctor & Gamble) runs its “Toxic Masculinity” ad campaign. It devastates their razor sales and continues to do so. Their competition thanks them for the free slices of Gillette’s former market share.
2021 (February): Coca-Cola’s internal anti-racism training (“Be less white”) leaks to the public via a whistleblower on Twitter. The overall stock price chart since then doesn’t show a big negative hit. Because this was internal and not customer facing, Coca-Cola seems to have managed to dodge that bullet. This was also when Twitter wasn’t owned by Musk, so Twitter employees were probably able to filter/censor away a lot of the negative effect on their platform.
Now Disney and Anheuser-Busch are committing financial seppuku, and investors everywhere are catching on. No surprise that given the choice, Coca-Cola’s investors said a very loud “no” to the proposals of the activists.
Inflation and rising interest rates are pinching families’ budgets, and people are stressed. It isn’t horrible yet, but it could easily go there. Companies had better wise up to this quickly and decide that poking that angry badger will not go well for them.
June should be… interesting.
It’s a great pleasure to see Bud Light is now being boycotted by the gay community.
I hope they enjoy being spit-roasted.
Ag- Excellent points!
JEt- Yep! LOL
My biggest problem with these “activists” is few, if any, have ever contributed to any bottom line. Why do they get to play when they have no skin in the game? They have an unstated cudgel, the “woke” in government and the Soros types trying to bring our country down. IMO, corporate America needs to tell all of them to f**k off and concentrate on return to shareholders who do have skin in the game.
True, but the problem is as much the Woke crowd working in finance.
I grew up in the Northeast, and it seems the crazy Leftists I knew all went into finance, government, or academia. The ones in finance are now in position to be influencing the companies due to huge ownership stake.
Will USNavy go broke? How do you define that?
It does SEEM broke.
Does Fox count?
WalMart is asking shareholders to vote NO on several D.I.E. proposals that activists have demanded be considered.
WSF- OF course they don’t! And it looks like some are now!
Ed- Budget wise, they already are… grrr…
Ed- Of course.
TXRed- Good for them!
Hey Old NFO;
Yeah the vote was 87% Nope from Coke. I was pleased, Hopefully more companies realize that the ESG crap don’t contribute to the bottom line and actually cost you.
Bob- Agreed!