Economy Blackrock laying off employees from ESG division while abandoning ESG/DEI narrative's amid $4 Billion Losses

Population percentages would be important though. You and many posters here are assuming companies aren’t hiring qualified applicants that fit these criteria. That’s your inherent problem.
Besides the obvious fact that hiring for anything other than competency will lead to less competency (which should be inherently obvious), there are multiple things you should realize:

1. There are a limited amount of positions at universities, limited amount of jobs, etc. When you choose someone for a job over another, the other person doesn't get that job. If the other person were more skilled or qualified, then you get a less skilled and qualified workforce by picking the person with less skill and qualifications. When you introduce a variable to your hiring practices that does not relate to skill or qualifications, then it essentially follows that your workforce will be less skilled and qualified.

2. We have consistently seen across the board in terms of education and job qualifications reduced requirements for minorities for acceptance. One example is medical school acceptance rates based on GPA and race:
med.png


As we can see, the average black applicant that scores 24-26 on their MCATs and 3.2-3.39 on their GPA has about the same chance to get into a medical school as a white or Asian applicant who scored 30-32 with a GPA of 3.6-3.79. These are stark differences in aptitude and qualifications and undoubtedly results in better students being excluded from medical schools, which in turn will result in less competent doctors. This is being seen across the board, with aptitude testing being devalued over things like "trauma essays", reduction in requirements for math and science and non-sense that result in anything but competency.

3. Most high skill jobs are not simply "check these boxes of qualifications". They aren't randomly choosing people based on who checks certain boxes. They are infinitely scaling in terms of competency. They go on and interview people to gauge how competent they are in their particular field. In a non-racist, non-sexist world, the people who are most competent will get the job. However introducing racial and sex quotas introduces a variable that could lead someone who isn't as competent to get a job over someone who is more competent. If a minority was more competent, they wouldn't need racial or sex quotas to get a job because the company inherently wants people who are more competent (because they will do their job better).

4. You make the false assumption that populations want to do the same jobs. There are way fewer black people applying to become tech people than Asian people. I'd say out of 100 applicants at the tech companies I've worked for, only 2 would be black, while there would be a huge overrepresentation of Asians (probably 50%).

5. In a presumptively racist and sexist society, why are Asian women way more overrepresented in high skill positions than even their white male counterparts?
 
Public open open bids are far from foolproof. Off the top of my head I can recall some rigging of the selection process where the preferred contractor is the only one that can fulfill terms...for example specifying that a percentage of employees have the necessary experience...but there is only one contractor that has ever worked the contract etc... never mind the cronyism and political favors....come to think of it its rampant in your field...merit might just be an afterthought.

Just for fun... Here was my first project ever... in 98'. I was in Vernal, UT for three years.

https://maps.app.goo.gl/UhEFVoVnXjNC4VhM9

Had an amazing time. Got to fish Flaming Gorge and the Green River all the time. Meet several softball fanatics, including some incredible ball smashers from the Uintah Indian Reservation nearby. Those dudes could play... We would travel all over for tourneys. Bought my first house, a duplex... rented the other side. lol... Almost got married, but we split when the project was over and she decided she didn't want to go with me back home to Denver. She's still there, never left. I went to do project all over the place.

Even to got to meet polygamists for the first time. Take what you know about them and trash it. Yes, the higher ups in the cult get multiple wives, but the average dudes in this cult get none. They're just peons. There were three poor bastards from a compound just outside of St George. They all piled into a one bedroom apartment. They all slept on the floor. Socially awkward as fuck. Wore long sleeve flannels with their undergarments, even in the 100 degree Utah desert heat.

They spent hardly any money and sent it all back home to compound. Tell you what though... They were the hardest working white guys I've ever met in construction. The heat never even phased them. Never complained... I mean fuck.. They never hardly said anything unless you talked to them first. Almost seemed autistic.

Good times...
 
Yeah it ridiculous bullshit that has no place in business of any kind. From a profitability sake prob not a good idea to use guilt inclusion to pander to a minority of sexual and gender identity. Especially when we are a capitalist society and I can in invest and vote with my dollar.

Having said that fuck black rock and vanguard.

Unfortunately, with Blackrock and Vanguard... they get to avoid the usually competition of Capitalism. Because a huge amount of their funding comes from Government Retirement funds... like Teachers and Firefighter Unions. They get money shoveled in regularly with almost zero oversight.

Retirement funds for teachers and firefighters are caught in ESG crossfire​

https://www.nbcnews.com/science/environment/esg-investing-gop-pushback-rcna76069

And in turn, it's turned them into oligarchs, with unusual power


Some states are pulling out of Blackrock...

Some workers union are pushing back? Why? Have zero idea... because firms like Blackrock are fucking the middle and lower class, while taking their money with every paycheck... Think on that.


Dopes in this forum like to ask the stupid question "Who are the Globalists?" lol... here you are.

You'll own nothing and be happy
 
black women are ~6% of the population and they want them representing 50% of pilots? how's that mathematically possible? somone with a PHD in woke do the math for me.

Speaking of being poor at math. 50% women OR people of color. That is a group that makes up much more than 50% of the population.



The main issue I have with DEI is that it makes the presumption that for different jobs, the entirety of the population wants all of jobs in equal proportion.

By trying to target equal representation for specific jobs across the board proportional to population representation you’re undoubtedly going to sacrifice merit.

A better goal, one that I am paid to help craft the strategy on, is if your company has a diverse set of roles try to have your employee base match the representation of the available workforce population.

Meaning, if I lived in area that was proportionally black or proportionally white it’s best to aim to not adversely impact minority populations. Not only best, but legal.

When you say “I want this specific job to match national population representation” it’s fitting a square peg in a round hole.

I don’t disagree. Not everyone wants to be an engineer or is even capable of obtaining the degree necessary. This is an individual constraint not a demographic one. I’m for encouraging participation. Sometimes people don’t realize what are interested in until they get a chance to experience different disciplines. It can take awhile to figure it out.

The problem I see in this thread is there are posters trying to claim companies are hiring people that aren’t qualified for these position simply because they come from one of the DEI demographics. It's the same people calling every person that doesn’t look like them a diversity hire. It’s basically saying that they aren’t capable of the position in the first place. It’s derogatory and creates an uphill battle from the start.
 
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Speaking of being poor at math. 50% women OR people of color. That is a group that makes up much more than 50% of the population.





I don’t disagree. Not everyone wants to be an engineer or is even capable of obtaining the degree necessary. This is an individual constraint not a democratic one. I’m for encouraging participation. Sometimes people don’t realize what are interested in until they get a chance to experience different disciplines. It can take awhile to figure it out.

The problem I see in this thread is there are posters trying to claim companies are hiring people that aren’t qualified for these position simply because they come from one of the DEI demographics. It's the same people calling every person that doesn’t look like them a diversity hire. It’s basically saying that they aren’t capable of the position in the first place. It’s derogatory and creates an uphill battle from the start.

Our very own Vice President is a perfect example of someone who was and is not even remotely close to qualifying for the job, but received it based on being a DEI hire.

I don't know how often unqualified DEI hires happen over other qualified hires but wouldn't you say it's racist if two people score the exact same on a hiring exam and one gets picked over the other because of their race?

Also I've asked this question a bunch but no one has answered it. The D in DEI stands for diversity. What are companies looking to be diverse from?
 
Speaking of being poor at math. 50% women OR people of color. That is a group that makes up much more than 50% of the population.

didn't read the or part. it's still no less poisonous. once they fill it up with women or blacks they'll fight over intersectionality.

"the overwhelming problem of white women pilots"
"there aren't enough black women pilots"

and once they stuff it with "the right kinds" of women they'll dump them all for trans women. the grift never ends and neither does the discrimination and the endangering the lives of millions.
 
Perfect analogy. Life isn't fair.

If Life isn't fair then why are you complaining in this thread? Why don't you just accept this and move on?

Why are you in here fighting against the unfairness of DEI??

lol... I've done 25 years of Municipal Contracts (water and wastewater treatment, storm water, etc) and have never ran into this. 8 States - CA, CO, AZ, UT, KA, MS, LA, TX

Not saying it doesn't happen. But typically owners want as many contractors as possible to bid to ensure competitive bids. Cities and Counties have tight budgets... not too many want to pay millions extra because they're buddies with a contractor. In fact, I've seen several times when they've elected to not award a bid because there was only one or two contractors and the bid amount was far above the engineer estimate.

The only strict requirement for Municipal Projects is being able to provide a Bid Bond and a Performance Bond to project the owner. Yes, they'll ask for references, but even if its a new company, as long as the key employees have some experience, they'll still award as long they provided a Bid Bond and are able to supply a Payment and Performance Bond.

And the companies that provide Bonds do a thorough review of your company... To make sure the company can actually to the work and to verify the company has the financial resources as well.

Because, if a company fails to perform or goes under, the Bonding company has to step in and take over.

You're talking complete bullshit

Never? cmon man

this shit happens all the time even a country like Australia

it happens everywhere lol

just because you are ignorant to it doesn't mean it doesn't happen
 
I think the real problem with Blackrock is their leveraged bond portfolio is down 200%. It's hidden because the losses are unrealized. The book value is what they use.
 
Who needs successful companies when you could have "diversity".

It's only the successful companies than can afford to look at things like diversity, ones who are struggling are more concerned about cash flow surprisingly
 
That's not what this thread is about.

That is what your post is about though. You have made the claim that life is inherently unfair and we shouldn't do anything to change that. Those are your words yet here you are fighting against the unfairness of DEI..

That would make you what?
 
That is what your post is about though. You have made the claim that life is inherently unfair and we shouldn't do anything to change that. Those are your words yet here you are fighting against the unfairness of DEI..

That would make you what?

Smarter and more honest than you.

I'm not in this thread fighting against DEI. I'm celebrating it's death. The fight is over.
 
Smarter and more honest than you.

I'm not in this thread fighting against DEI. I'm celebrating it's death. The fight is over.

That's besides the point. Why would you celebrate anything when it doesn't affect your beliefs?

Life is unfair so what is the point of celebrating anything that changes that?
 
That's besides the point. Why would you celebrate anything when it doesn't affect your beliefs?

Life is unfair so what is the point of celebrating anything that changes that?

You're not nearly clever enough to play this game.
 
You're not nearly clever enough to play this game.

This isn't a game. I'm just questioning your post about this.

"Life is inherently unfair" yet you want to celebrate this? It doesn't make any sense. You need to question your own beliefs.
 
This isn't a game. I'm just questioning your post about this.

"Life is inherently unfair" yet you want to celebrate this? It doesn't make any sense. You need to question your own beliefs.

So as I asked above, do you support a quota of guys under 5'2" in the NBA? Do you support a cap on guys over 6'2"?

Do you support racial hiring practices to bring the racial makeup of the NBA closer to the demographics of the country?
 
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I always thought the ESG and DEI initiatives from Blackrock was a bit conspiratorial. But not sure now.

I mean isn't their primary motive profit regardless of any morals?

Did they perhaps think forcing woke politics into for profit companies was going to make them MORE profitable? IDK TBH - I mean there are some pretty smart people working there.
 
So as I asked above, do you support a quota of guys under 5'2" in the NBA? Do you support a cap on guys over 6'2"?

Do you support racial hiring pracces to bring the racial makeup of the NBA closer to the demographics of the country?

That isn't the discussion at hand. You said life is unfair. If it's unfair then why do you care about this?
 
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