With about $6 trillion of assets under management, BlackRock Inc. carries a lot of weight. And Laurence Fink, CEO and chairman of this New York-based investment firm is throwing his weight around. In a letter dated January 12, Fink advised fellow CEOs of publicly-traded companies urging them to expand their horizons. “Society is demanding that companies, both public and private, serve a social purpose,” he wrote. “To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.” Though such words sound reasonable, they epitomize a common error about the institutional role of the corporation.
For decades, corporations, prodded by government, nonprofit activists and increasingly their own shareholders, have been retooling themselves as social problem solvers. Under the doctrine of Corporate Social Responsibility (CSR), companies effectively behave as philanthropies. A company is answerable not just to persons … Read More ➡
On one level, 2017 was a very good year. President Trump, a man who works with unions rather than for them, took office in January. He named Marvin Kaplan and William Emanuel (each approved by the Senate) to fill National Labor Relations Board vacancies, and Peter Robb, another ally of individual worker liberty, as NLRB general counsel. This contrasted with former President Obama’s picks, which created a natural 3-2 pro-union board majority. The reconstituted board already has made a difference. Last month, in PCC Structurals Inc., the board raised the bar for “micro-union” organizing, overturning the misguided Specialty Healthcare decision of 2011. At the state level, Kentucky and Missouri early in the year passed Right to Work legislation (each signed by the respective governors) to protect private-sector nonunion workers from having to pay union dues to keep their jobs.
Crucial as such countervailing forces to union power were, unions … Read More ➡
Legacy media organizations can be counted on to squawk when their voices aren’t heard in Republican-controlled forums – such as White House press conferences.
But when it’s conservatives who are censored on powerful, widely read platforms, it’s hard to find any journalists who care.
Such was the case last week when Project Veritas exposed, in an undercover investigation, how Twitter systematically diminishes – and even bans – access to posts published by those on the Right. One Twitter manager in charge of gatekeeping called their censorship victims “shi**y people.”
Then there was the revelation by The Daily Caller that Google’s “fact check” feature seems to exclusively target conservative web sites in its results. In other words, no suspect or controversial claims by liberal web site publishers are scrutinized for accuracy – only those on the right.
While mainstream media outlets are obsessed about … Read More ➡
Since its creation by executive fiat nearly six years ago, the Deferred Action for Childhood Arrivals (DACA) program has granted amnesty to hundreds of thousands of people from abroad brought here as children by their illegal immigrant parents. As DACA undermines U.S. sovereignty, security and rule of law, and very likely is unconstitutional, its elimination would seem a no-brainer. Yet President Donald Trump and Congress, under extreme pressure to “do something” about immigration, may be on the verge of retaining it. Unions, predictably, are among interest groups applying the pressure.
DACA owes its existence to a misguided assumption that coming to, and remaining in, America is a moral right. If a person is “undocumented,” that should not be any basis for deportation. The program was a by-product of stalled immigration legislation pushed during the second term of President George W. Bush. Part of that legislation would have allowed persons … Read More ➡
U.S. Bank isn’t just about banking. And Greg Cunningham wants everyone to know that. Cunningham, vice president of diversity and inclusion at the Minneapolis-based institution, is busy traversing the nation, coaxing bank employees to confront their inner racism, sexism and other attitudes that get in the way of a harmonious workplace. “Transforming a culture of 67,000 people is never easy,” he says. “You have to make sure that everyone knows that there is something in this for them.”
Reprogramming of this sort is a trend. Corporations are creating on-premises ‘safe spaces’ for employees presumably at risk of harassment by managers and peers. Advocates tout the practice as fostering teamwork and ultimately profits. Don’t believe them. Under the guise of addressing a workplace morale crisis, such ‘spaces’ actually create rather than resolve employee divisiveness. It’s a variation on that national behavior modification program known as “diversity,” which has nothing to … Read More ➡