The main thrust of the World Economic Forum 2023 is “Resilience”. Corporations are warned that they need quick and decisive action in the face of adversity. The slower they react, the more likely they will fail their ‘stakeholders’. Shareholders are passé. WEF Young Leaders have infiltrated every western country, and China. Those from Taiwan list their country of origin as Taiwan, China. NOT Taiwan, USA.
In our new world of DEI and sustainability – it appears the concept is appeasement. Websites have been redrawn to host a black representation of life. Diversity experts showcase the corporations stakeholder agenda. While behind the scenes Boards are typically white male dominant. The point – the D in DEI is a nod, not a reality.
Equity: this concept is a bit more creative in its logic and rationale. The term “equity” refers to fairness and justice. Equity means recognizing that we do not all start from the same place and must acknowledge and make adjustments to imbalances. ~ NACE
It is under this presumption that DA’s refuse to prosecute – because criminals started from a place of imbalance and thus are not responsible for their crimes. By contrast, it is presumed that all educated White people come from a place of upper class standards and therefore their crimes must be over-prosecuted to account for the injustice of equity.
Inclusivity: This term did not apply to people until recently. It’s previous meanings were more aligned in entities or resorts or family. It was not until the great sustainable word began to be used in every sentence that ‘inclusive’ was brought in as a form of ‘nonracism’.
The WEF list of global fellow youth leaders is inclusive of Christina Freeland of Canada, and Maria Bartiroma of the US. A prominent sponsor of the WEF is McKinsey & Company.
McKinsey’s website states they want to build an ‘Inclusive Economy”. Lead in; 7 in 10 people live in societies with growing inequality.For McKinsey this means delisting colleges and attracting more people to trained skill positions. Their point? College does nothing to prepare a person for work. It is a good point, relevant, and viable – IF that is what they actually were trying to achieve.
Unfortunately, McKinsey then starts with the Bill Gates/WHO methodology of tossing out fake success numbers that are completely, entirely fabricated. “We saved 5 million lives” – “We have helped reskill 1.25 million people”… False Advertising used to be a crime.
In complete contrast to the WEF they fund and sponsor, McKinsey claims Ownership Works, and have created a new NGO with the name. Website: “We are reimagining Equity to Build Wealth For All”. Funding is predominantly from Banks, Investment Funds, Big Oil, and includes Rockefeller Foundation and Omidyar Network among other noteworthies.
Their objective is for employees to become the owners of an existing company – overseen by an ‘investor’. The Investor is a funding partner of Ownership Works; Berkshire, KKR, Silver Lake, Blue Wolf Capital, etc… The appointed Investor manages all the business and decision making on behalf of the employee share owners while training the employees is a joint effort of McKinsey and the WEF. For a Fee.
But it isn’t exactly how it sounds. Employees are given shares in the company in the highest dilution possible. For example: Harley is predominantly owned by BlackRock and State Street. More than 146 million shares are outstanding. The shares given to employees are infinitesimal compared to the number outstanding and the employee is only given the value of the shares when they retire. More like a pension plan. Or restricted stock shares that cannot be sold.
Harley Davidson’s share value since 2014 has halved. Employees are warned that the risk of ownership may outweigh its benefit ~ SEC.
When United Airlines instituted 55% stake employee ownership – it came with restrictions such as reduced pay, reduced benefits, and work-rule changes. The largest shareholder of United is – Vanguard. It is the Hedge Funds which rule the Board of Directors which rally the Executives to do as they are told. Employees are still just employees – only now they are getting paid less.
The idea of employee ownership has not taken off very well. It is not about ownership per se, you are still simply an employee with reduced wages and benefits and a retirement plan built on owning one stock. By comparison, executives are offered higher options, unrestricted, and retain full power.
This is more like a PR stunt to pay less employee wages and benefits such as 401k plans – in the present and future while maintaining the same structure. A Ponzi Scheme – a shell game because you still don’t have real ownership – your stock has no value – until you retire.
Note: In the 1980’s when the communists took control of Poland they instituted similar measures; to buy any car, you needed to pay the FULL cost up front, wait 5-7 years for the delivery of said car, and if the value increased during the time between purchase and delivery you had to pay the difference. If the value decreased, Your Loss! Exactly the same as the employee stock ownership plan…
