BlackRock’s Larry Fink realized DEI policies ‘bad for business’: Joe Concha
Source: Washington Examiner · Bias: Center Right
Summary
Washington Examiner columnist Joe Concha said BlackRock CEO Larry Fink realized “alienating” half the country with diversity, equity, and inclusion policies hurt his company. Concha highlighted other companies that also removed DEI policies, including Coca-Cola, Target, and Walmart. “Any company, any business, any government position should be based on one cold, hard mandate: who’s the […]
BlackRock’s Larry Fink realized DEI policies ‘bad for business’: Joe Concha
Center Right
Washington Examiner columnist Joe Concha said BlackRock CEO Larry Fink realized “alienating” half the country with diversity, equity, and inclusion policies hurt his company. Concha highlighted other companies that also removed DEI policies, including Coca-Cola, Target, and Walmart. “Any company, any business, any government position should be based on one cold, hard mandate: who’s the […]
Ken Griffin, the billionaire founder of hedge fund Citadel, urged business leaders to resist the socialism of New York City Democratic Mayor Zohran Mamdani, warning that the Big Apple's business environment will otherwise be destroyed.
The post Business Leader Calls on New York City to Resist Mamdani appeared first on The Gateway Pundit.
A federal appeals court in a 2-1 decision Thursday upheld a lower court ruling blocking the Trump administration from firing 19 career intelligence officers who had been assigned to roles dealing with diversity, equity, inclusion and accessibility (DEIA). The ruling from the 4th Circuit Court of Appeals found the Trump administration erred in firing the…
The Gateway Pundit reported that Joe Biden, during a speech to Maryland Democrats at their pathetic ‘Fight Back & Win Summit and Gala,' trashed President Trump for cleaning and renovating the Lincoln Reflecting Pool.
The post Adam Carolla Destroys Joe Biden for Attacking Trump Over Reflecting Pool (Video) appeared first on The Gateway Pundit.
Former Democrat-turned-Independent Senator Joe Manchin is urging Sen. Fetterman to follow in his footsteps as his former party lurches left. Manchin bucked the Democratic Party in 2024 […]
A federal appeals court on Thursday blocked the Trump Administration from firing 19 intelligence officers assigned to DEI jobs.
The post Appeals Court Blocks Trump Administration from Firing 19 Intelligence Officials Assigned to DEI Jobs appeared first on The Gateway Pundit.
The Fox Business team was greeted with bad news on Thursday as job numbers came in shockingly low."We came in underneath expectations," said Cheryl Casone. "We came in at 50,000 nonfarm jobs. The Street was looking for 110,000. The unemployment rate fell to 4.2 percent, down from 4.3 percent, which it had been holding steady at for about three months."Furthermore, she noted, the underemployment rate, or rate that includes people who are working in lower-pay or lower-hours jobs that don't use all their skills, is 7.9 percent — and payrolls from earlier in the year were revised down by over 70,000. And health care and social assistance went up, but leisure and hospitality jobs went down.This isn't the report Wall Street wanted, Casone noted — and when Maria Bartiromo tried to spin it as a "Goldilocks story" because the Dow Jones went up slightly on the news, right-wing economic analyst and former Trump adviser Stephen Moore disagreed."Well, I'm just looking at some of the other numbers, and look, I mean I'm a little disappointed in this, frankly," said Moore. "If you look at the household survey, it showed half a million fewer Americans working. So I'm a little puzzled by this."
Being president of the United States is by far the most lucrative business venture of Donald Trump’s checkered business career. The June 30 release of his financial disclosure report makes this official. Trump has turned the American presidency into an extractive industry. In 2025, Trump mined more than $2.2 billion in income from being president, most of it from crypto, from which he extracted $1.4 billion. That’s all the more remarkable when you remember that crypto entered a slump last year and that investors in Trump’s crypto ventures who were not members of the Trump family lost $2.3 billion, according to a June 9 investigation by Tom Bergin of Reuters. It’s almost as if Trump’s ability to draw income from business ventures did not depend on those ventures being successful!A cynic might observe that Trump’s special treatment is no different from that of American chief executives in the private sector who are similarly insulated from failure. But Trump’s payday puts theirs in the shade. The only CEO whose compensation exceeded Trump’s last year was Elon Musk, who (for now) is a category of one. Musk’s $158 billion pay package from Tesla last year was more than 15 times larger than the combined pay packages of the other 391 chief executives surveyed in late June by The Wall Street Journal. If we set Musk aside, the highest-paid chief executive in the Journal’s ranking was Shankh Mitra, chief executive of Welltower, “a real estate investment trust focused on senior housing and healthcare.” Let’s leave for another day the ethics of harvesting a vast personal fortune from the physical and mental decline of one’s fellow human beings. My point here is that Mitra’s obscene pay package last year of $821 million was less than half of Trump’s $2.2 billion. Plus, I bet Mitra had to put in at least some actual work.I observed a year ago that Trump is America’s first rentier president. A rentier is someone who makes his money through the possession of assets rather than the exertion of labor. Rentiers are capitalism’s nepo babies. Prior to Trump, the main rentier occupations were real estate and finance. Trump himself was a classic rentier capitalist, a rich kid who joined the family real estate business, exaggerated his success to a credulous tabloid press, and inherited $413 million from his more successful father. Trump moved the family business from dowdy apartment buildings in Brooklyn and Queens to luxury apartments and hotels in Manhattan and beyond, but many of these went bankrupt. In 2018, The Economist concluded Trump would have made more money had he been a more conventional rentier and invested daddy’s money in index funds. The rentier presidency is a much more lucrative proposition than rentier capitalism, and one with which index funds can’t possibly compete. Crucially, there is no index fund that lets you acquire a stake without investing money or labor. During the 2024 presidential campaign the Trump family acquired a 60 percent stake in World Liberty Financial and was granted 75 percent on net revenues from token sales. (The Trump family stake in the company, the less valuable part of this deal, has since fallen to 38 percent.) Trump did not pay for these privileges, yet last year he earned more than $594 million from them. Neither is there any evidence, according to Reuters’ Bergin, that Trump ever paid for his stakes in the crypto firms ALT5 Sigma, American Bitcoin, or Celebration Coins. This last alone netted Trump more than $636 million last year. The business press often notes these days that Trump has become less a real estate investor than a crypto investor. But to call Trump a crypto investor is a misnomer because investors, um, invest. Trump doesn’t invest. He receives. Nor should we call Trump a media investor, because Trump didn’t pay one cent to acquire his majority stake in Trump Media & Technology Group. This company owns Truth Social, on which Trump posts his late-night rants, and “has engaged,” Michael Hiltzik observed last March in The Los Angeles Times, “in a number of baroque financial transactions.” It works out well for Trump that he didn’t put money into Trump Media & Technology Group because it lost $715 million last year on revenue of $3.7 million. Yet Trump’s stake in this money-losing venture somehow remains, according to his latest filing, worth more than $50 million. Nice work if you can get it.The business model for a rentier presidency might puzzle the untutored, given the extensive losses involved. Why would anyone invest with the president of the United States? Some of them are just suckers, still bedazzled by the phony business-genius image he created during 14 TV seasons of “The Apprentice” and “Celebrity Apprentice.” But others derive value in other ways.
