Why We Just Sold Half of Our Stocks

We've already sold all or part of 52 different stocks this year - more than any other period in our firms' history. That's because there are five cracks forming below this market that threaten us with a widespread collapse. We could see the market tumble by 50% and unemployment will triple.

Ford joins growing list of companies changing diversity policies after conservative pressure

Associated Press
August 28, 2024

DEARBORN, Mich. (AP) -- Ford Motor Co. has joined the ranks of companies that have pulled back on diversity, equity and inclusion policies while facing pressure from conservative groups.

CEO Jim Farley sent a memo to all employees early Wednesday outlining the changes, including a decision to stop taking part in external culture surveys and an annual survey by the Human Rights Campaign that measures workplace inclusion for LGBTQ+ employees.

"We will continue to put our effort and resources into taking care of our customers, our team, and our communities versus publicly commenting on the many polarizing issues of the day," the memo said. "There will of course be times when we will speak out on core issues if we believe our voice can make a positive difference."

Farley wrote that Ford is mindful that employees and customers have a wide range of beliefs "and the external and legal environment related to political and social issues continues to evolve." The company, he wrote, has been looking at its policies during the past year.

Ford, he wrote, doesn't use hiring quotas or tie compensation to specific diversity goals, and it remains committed to "fostering a safe and inclusive workplace."

Robby Starbuck, a conservative political commentator who has gone after companies such as Lowe's, Tractor Supply and John Deere, wrote in a Wednesday post on X that he was investigating Ford's "woke" policies.

Starbuck posted Farley's memo, the contents of which were confirmed by Ford. The company said Wednesday that the memo speaks for itself and declined further comment.

In a statement, the Human Rights Campaign said Dearborn, Michigan-based Ford was cowering to an "internet troll" by abandoning its longtime values and policies.

"Their shortsighted decision will hurt the company's long-term business success," the statement said.

Several companies have changed their diversity programs since the U.S. Supreme Court outlawed affirmative action in college admissions or after facing a conservative backlash online.

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