Costco stands firm on DEI
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 16 January 2025
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Thursday, January 16th. I'm Julie Morgan. |
| 0:13.0 | Costco holds the line on DEI. Hindenburg Research is shutting down, and Marco Rubio says the U.S. needs to take another look at Chevron's |
| 0:23.8 | presence in Venezuela. While corporate America is increasingly scaling back diversity programs, |
| 0:31.3 | Costco has refused to back down and instead touted how its diversity, equity, and inclusion efforts have helped improve financial |
| 0:39.9 | performance. The warehouse retailer urged its shareholders to reject a proposal by conservative |
| 0:45.9 | think tank National Center for Public Policy Research to evaluate the perils of maintaining its |
| 0:52.5 | DEI policies. |
| 1:01.1 | NCPPR's proposal read that Costco likely has at least 200,000 employees who are potentially victims of this type of illegal discrimination because they're white, Asian, male, or straight. |
| 1:07.4 | Costco said in a proxy statement ahead of its annual shareholder meeting on January 23rd, |
| 1:13.4 | one week from today, that the board has considered this proposal and believes that their |
| 1:18.4 | commitment to an enterprise rooted in respect and inclusion is appropriate and necessary. |
| 1:24.8 | The company also said combined with their obedience to the law, service to their employees, members, and necessary. The company also said combined with their obedience to the law, service to their |
| 1:29.3 | employees, members, and suppliers has rewarded shareholders. Hindenburg Research is closing its |
| 1:37.0 | doors. The founder, Nate Anderson, said in a statement on the firm's website that the plan |
| 1:42.9 | has been to wind up after they finished the |
| 1:45.3 | pipeline of ideas they were working on. And as of the last Ponzi cases that they just |
| 1:50.4 | completed and are sharing with regulators, that day is today. He wrote that on the website on Wednesday. |
| 1:57.0 | Hindenberg gained much notoriety in recent years for its short reports on companies, including |
| 2:02.4 | Nicola, billionaire activist investor Carl Icons Icon Enterprises, and most recently Super Microcomputer |
| 2:10.4 | and Carvana. Anderson wrote that there's not one specific thing, no particular threat, |
| 2:16.3 | no health issue, or no big personal issue as to why |
... |
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