Friday, April 30, 2021

Check your investments for DIE

I've suggested that if you have a pension or private investments, you take a look at the Annual Reports to see what the DIE (diversity inclusion equity) statements are. Comcast makes this extremely difficult to find. The annual report was a filing statement, so I went back to the proxy and found it in the 2021 summary. Comcast has way overcompensated for diversity, with 44% people of color among employees. (Can't tell if those are management or line.) 30% are women on the board, 30% POC. I don't mind if they load up with women as long as they are qualified and didn't get degrees in dance and library science. By 2021 women should be able to tell if they are token or a relative. And does it really make a difference if super rich people who control huge swaths of stock are female or black? Is that really diversity? I abstained on almost all votes, except I voted against the "independent" Me Too investigation, just because in today's climate, no man or woman, gay or straight, in management can get a fair investigation, especially if the investigators comb through their social media posts of 8 years ago or find out about consensual affairs.
 
Comcast's language is a bit more trendy, using BIPOC instead of just POC. That's even more virtue signaling. Like I'm sure the board is loaded with "indigenous people." Donating $100 million for social justice, including "Lift Zones" and BIPOC small businesses affected by COVID. Comcast is another company that's made out like gang busters with the Covid pandemic. $100 million is probably small potatoes. And that revolving door with government? In 2020 124 out of 144 Comcast Corp lobbyists in 2020 have previously held government jobs. Way up from 2019. Yes, it was a very good year for Telecommunication companies.

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