Core Argument - The speaker advocates for cultural competence as a more holistic and universally acceptable framework than traditional DEI initiatives [4] - Cultural competence emphasizes equality through understanding and fosters psychological safety [5][6] - The industry suggests cultural competence is an active process for navigating differences arising from diverse backgrounds, termed "cultural dilemmas" [8][9] Key Components of Cultural Competence - The framework involves four steps: recognize, respect, reconcile, and realize [10] - The industry highlights three fundamental principles: empathy, respect, and collaboration [13] - Empathy involves understanding perspectives from another's cultural lens [13] - Respect acknowledges the inherent worth and dignity of every individual [14] - Collaboration leverages diverse talents and insights to achieve shared goals [15] Benefits and Impact - Cultural competence leads to more robust, inclusive, and effective solutions [13] - The industry believes it unlocks innovation, solves problems, and forges deeper connections [16] - It builds bridges instead of walls, embracing the richness of diversity [17]

Challenges in the Engineering Industry - The engineering industry faces a growing skills gap and a mental health emergency [11] - Construction, engineering, and manufacturing workers are over three times more likely to die by suicide than the national average in the UK [12] - Research indicates that 81% of engineers report emotional or mental health concerns, yet less than half are comfortable discussing it with their employer, and 25% have considered suicide or self-harm [13] - The UK has a shortfall of over 173,000 engineers, costing the UK economy approximately 15 billion pounds (15% billion) annually [14] - In a 12-month period, over 38,000 women left engineering roles in the UK, decreasing the proportion of women in engineering and technical roles [15] - Research shows that nearly 72% of queer engineers in automation have experienced or witnessed discrimination in the workplace [16] Proposed Solutions & Recommendations - Inclusion should be engineered, not improvised, drawing from automation principles [8] - The industry should apply engineering logic to the workplace, monitoring people as critically as technical assets [10] - Implement condition monitoring techniques for inclusion, tracking psychological safety, workload equity, career progression, and cultural climate continuously [23][24] - Build in feedback loops using networks, employee resource groups, micro-surveys, and regular conversations for continuous course correction [25] - Track promotion patterns and trends, not just individual complaints, treating inclusion with the same rigor as quality control [26][27] - Design inclusion from the ground up, based on data, to avoid reactive measures [27][28]

Core Insights - Opendoor Technologies is facing significant operational inefficiencies, with cofounder Keith Rabois stating that the company is "bloated" and could reduce its workforce from 1,400 employees to around 200 [1][2] - The company has recently gained attention as a meme stock, with its stock price increasing by 470% year-to-date following the announcement of leadership changes [1] - Rabois criticized the company's culture, particularly regarding remote work and diversity, equity, and inclusion (DEI) initiatives, indicating a shift back to a focus on merit and excellence [2][7] Company Overview - Opendoor Technologies specializes in buying and selling homes, and it has recently seen a surge in stock performance, attributed to the rejoining of cofounders Rabois and Eric Wu on the board and the appointment of Kaz Nejatian as CEO [1] - The company currently employs 1,400 individuals, but Rabois believes that the majority of these positions are unnecessary, suggesting a drastic reduction in workforce [1] Cultural and Operational Changes - Rabois described the company's culture as "broken," emphasizing the ineffectiveness of remote work and the need to move away from DEI-focused initiatives [2][7] - The shift in focus will prioritize merit and excellence, indicating a potential restructuring of company values and operational strategies [2]

Core Insights - Target announced a CEO change, with Brian Cornell retiring and COO Michael Fiddelke taking over, which was met with disappointment from Wall Street due to the lack of an outsider candidate [2][3] - The company reported another weak quarter, confirming a continued loss of relative market share, with shares dropping over 6% following the announcement [3][5] Financial Performance - Under Cornell's leadership, Target's revenues grew from approximately $60 billion to over $100 billion, with significant contributions from digital sales and private brands [4] - However, since mid-2021, Target's stock has declined over 60%, while competitors have seen substantial gains [5] - Target has experienced flat to negative same-store sales over the past three years, contrasting with Walmart's average growth of around 6% [6] Market Position and Strategy - Target's merchandise mix is more discretionary, making it vulnerable in a challenging economic environment where consumers are more selective [7] - The company's focus on online fulfillment has detracted from customer service and visual merchandising, leading to frequent product out-of-stocks [8] - Target has struggled with its brand positioning, often competing on price rather than leveraging its unique market identity [9] Leadership and Future Direction - The promotion of Fiddelke has drawn criticism, as he was previously overseeing areas where Target has faced execution issues [11][12] - The board's decision to retain Cornell as executive chairman suggests a reluctance to implement significant changes [12] - Fiddelke's initial priorities include reestablishing merchandising authority, enhancing customer experience, and leveraging technology for efficiency, but these strategies need to be executed effectively to differentiate Target in the market [14][15][16]

Core Insights - Procter & Gamble plans to cut up to 6% of its global workforce, approximately 7,000 jobs, in response to consumer uncertainty and tariff-related costs [2] - Target's recent earnings report shows a decline in sales and profit, with sales falling just under 1% to $25.2 billion and profit dropping 19% year-over-year to $1.3 billion [3] - Target's stock price has decreased by 31% since the announcement of changes to its diversity, equity, and inclusion (DEI) programs, resulting in a market cap loss of over $13 billion [5] Company Challenges - Target's new CEO, Michael Fiddelke, will face significant challenges following the departure of Brian Cornell, particularly regarding the backlash from the company's DEI program changes [4] - Financial pressures are compounded by tariff uncertainties and a slowdown in consumer spending, which are expected to persist [5][11] - The company has seen a decline in foot traffic, with a 9% drop in website traffic coinciding with a social media movement calling for a boycott [8][10] Tariff Impact - Target is facing new challenges from tariffs, which could lead to higher import costs and further price increases, alienating price-sensitive consumers [11] - The timing of these tariffs is problematic as Target struggles to regain its footing amidst declining sales [11][13] Business and Political Intersection - Target's situation highlights the importance of consistency in business practices, particularly regarding DEI programs, as inconsistency can erode consumer trust and loyalty [14] - Maintaining customer loyalty is crucial for business resilience and growth, as loyal customers drive repeat purchases and provide valuable feedback [15] - Companies must stand by their principles during volatile times to maintain and earn customer trust and loyalty [16]

.@sonalibasak sits down with asset management leaders to talk about the DEI pushback in recent years and what they think the future of diversity in finance looks like.Watch the full episode of Bullish on the Bloomberg app https://t.co/oSp6OsKcPV https://t.co/xxOxDalo27 ...

Industry Trends & Challenges - The finance industry is seeing a growing number of powerful women managing vast amounts of capital, indicating a shift in the traditionally male-dominated field [1][2] - The industry average for women on finance teams is lower than Guggenheim's 30%, highlighting a need for further progress towards gender parity [6] - There's a perception that "greed is good," as portrayed in media like "Wolf of Wall Street," which may deter women and young people seeking purposeful careers from entering the finance industry [5] - DEI (Diversity, Equity, and Inclusion) initiatives are facing pushback, potentially slowing down the momentum of increasing diversity among fund managers and founders [23][25] - Some individuals still hold biases, such as the belief that "chicks can't do math," revealing persistent stereotypes in the finance sector [31] Women's Impact & Opportunities - Women control approximately 80% of global discretionary spending, demonstrating their significant economic influence [13] - Women are projected to control over 50% of the global wealth market in the next five years, indicating a major shift in financial power [13] - Women-led firms controlled only 0.7% of assets in alternative investments as of 2021, revealing a significant disparity in asset control [14] - Companies with more gender diversity on executive teams are 25% more likely to achieve above-average profitability, underscoring the business case for inclusion and diversity [47] - Women are finding success in less institutionalized areas like music, media, and entertainment, building businesses in less trafficked sectors [30] Leadership & Progress - As of the report's timeline, Jane Fraser is the only woman to lead a major US bank, highlighting the ongoing underrepresentation of women in top leadership positions [38] - Citigroup moves $5 trillion a day, exceeding the GDP of France, showcasing the scale of responsibility held by its CEO [41] - The trading floor environment is more positive and diverse compared to the 1980s, indicating cultural transformations within financial institutions [48] - Progress for women in finance is not always linear, and there's a responsibility to continue advocating for change for future generations [34][50]

Welcome back to Velio on MSNBC. I'm Charles Coleman Jr. . filling in for Ally today.Now, since returning to office, Donald Trump has dismantled decades old agencies and initiatives which were initially designed to protect black Americans and other marginalized communities. He has justified these actions by claiming he's rooting out racial discrimination disguised as diversity, equity, and inclusion. But as Pulitzer Prizewinning journalist Nicole Hannah Jones points out in a new york a new essay for the New ...

Core Insights - Target's fiscal first-quarter earnings report showed disappointing results, with the company losing market share to competitors like Walmart, Costco, and Amazon [1] - The decline in same-store sales was partly attributed to customer backlash against the rollback of diversity, equity, and inclusion programs [2] - The company warned of the impact of tariffs and economic uncertainty on consumer spending [3] Financial Performance - Target's revenue decreased nearly 3% year over year to $23.8 billion, with same-store sales falling by 3.8% [5] - In-store comparable-store sales dropped by 5.7%, while e-commerce sales rose by 4.7% year over year [6] - Adjusted earnings per share (EPS) fell 36% to $1.30, reflecting lower sales and reduced operating leverage [6] Category Performance - The only category to see growth was food and beverage, which increased by 0.8%, while beauty remained flat [7] - Target managed to hold or gain market share in 15 of 35 sub-merchandise categories, particularly in women's swimwear and toddler apparel [7] Digital Business - Roundel digital advertising revenue grew by 25% year over year to $163 million, with same-day delivery surging by 36% [8] - Despite growth in digital sales, these segments are still too small to significantly offset the challenges in the core in-store business [8] Margin and Guidance - Gross margin decreased by 60 basis points to 28.2%, attributed to markdowns and higher fulfillment costs [9] - Target revised its full-year earnings guidance down to a range of $7 to $9 per share, from a previous outlook of $8.80 to $9.80 [10] Market Position - Target's stock is down about 30% year to date, contrasting with the performance of Walmart and Costco, which are near all-time highs [11] - The company is more exposed to tariffs and weaker consumer spending due to a higher percentage of discretionary merchandise compared to peers [12] Valuation - Target's stock trades at a significant discount to other leading retailers, with a forward price-to-earnings ratio of less than 12 times this year's analyst estimates [12] - Despite the valuation gap, the company's ongoing underperformance raises concerns about its ability to recover [14]