Latest news with #EquityandInclusion
New York Post
2 days ago
- Business
- New York Post
Target CEO blames lousy earnings on anti-woke ‘headwinds' — and Wall Street is chuckling
Investors and traders got a good laugh last week when Target's CEO Brian Cornell suggested that a lousy quarter was partly the result of a consumer backlash against the retailer for rolling back its DEI efforts, On The Money has learned. DEI, or Diversity Equity and Inclusion, is a management philosophy that says pure merit-based hiring is overrated. Instead, companies must tailor their workforces to match an intersectional matrix — skills be damned. DEI also holds sway over ads, marketing and other corporate functions. Under Cornell, Target went all in on DEI, most infamously in its Pride celebrations, a corporate marketing and sales effort that targeted the LBGTQ+ community. Nothing wrong with that – unless you do it in a way that spoils the shopping experience of most of your customers. Target CEO Brian Cornell suggested that a lousy quarter was partly the result of a consumer backlash against the retailer for rolling back its DEI efforts. Jack Forbes / NY Post Design Those are mainly working class people who just want to buy Target's low-priced goods and didn't want the company to proselytize to them about gender fluidity – particularly when they show up to a store with their kids. As I wrote in my book 'Go Woke Go Broke: The Inside Story of the Radicalization of Corporate America,' Target and Cornell were on the cutting edge of the woke movement and took it to disastrous extremes. Google the product known as the 'tuck-friendly bathing suit' and you will get the full story so I don't have to recite the gory details. In 2023, a full-on customer revolt ensued, and let's say Target never recovered. Earlier in the year, Target took note and began to unwind some of its DEI policies. Gone also were the flamboyant Pride displays. DEI in hiring was rolled back after the courts ruled that discriminating based on race is illegal, and the Trump administration announced it will enforce these edicts. Now, if Cornell is to be believed, Target is suffering from what might best be described as a counter-customer revolt. Our very own Rev. Al Sharpton believes DEI is a civil right, and recently said he would support a boycott of Target stores. Rev. Al Sharpton recently said he would support a boycott of Target stores. Getty Images Target's latest quarterly earnings of $1.30 a share and revenue drop to $23.8 billion both missed estimates – and by a lot. All this and the impact of the Trump tariff increases hasn't totally settled in. Cornell's explanation to investors for all of the above: Ending DEI and becoming less political represented a 'headwind.' That's why investors and traders who spoke to On The Money are getting a chuckle out of Cornell's rationalization. It makes no sense because Target has been flailing for a while, mostly after it went all in on woke. As my pal the 'Sarge,' the veteran trader and investor Stephen Guilfoyle, wrote in The 'For Target, this was the third quarter in five that the firm failed to both meet Wall Street's projections for adjusted profitability and Wall Street's expectations for total revenue generation. Going further back, Target has failed to meet earnings expectations for six of the past 13 quarters.' On The Money asked a Target rep how Cornell could be so sure DEI headwinds, and not management ineptitude (analysts say its stores are in need of a massive upgrade), are to blame for the lousy first-quarter results. We will let you know what they say when (if) they get back to us.
Yahoo
3 days ago
- General
- Yahoo
Harvard University President Gets Standing Ovation After Taking Dig at Trump During Graduation Speech
Harvard University President Alan Garber received a standing award for celebrating students from "around the world" during his commencement speech. The ceremony came amid relentless attacks on the university by the Trump administration. In recent days, the White House has attempted to block Harvard from enrolling international students and cancelled $100 million more in federal contracts with the institution. Harvard University hosted its commencement ceremony for the class of 2025 on Thursday, May 29, amid the institution's ongoing feud with President Donald Trump and his administration. The ceremony, held at the historic Tercentenary Theatre in Harvard Yard, featured remarks from prominent students, illustrious keynote speakers and faculty heads, each of whom addressed the tensions between the university and the current political administration. Most notably, Harvard President Alan Garber began his remarks with an apparent dig at the Trump administration's attempts to kick out all of the university's foreign students. "To the class of 2025, from down the street, across the country and around the world," he began, pausing for applause before repeating himself for emphasis. "Around the world, just as it should be." The simple expression of solidarity with the entirety of his student body earned Garber a standing ovation. Keynote speaker Dr. Abraham Verghese, a bestselling author and professor at Stanford Medical School, praised Harvard and its students for 'courageously defending the essential values of this university and indeed of this nation.' 'No recent events can diminish what each of you have accomplished here,' he told the graduates. In April, the Trump administration issued Harvard — and several other prominent U.S. universities — a list of demands targeting Diversity, Equity and Inclusion initiatives, the admission of international students, pro-Palestinian protests and more. Since their bold refusal to comply with Trump's demands, Harvard has become the lightning rod for the administration's ire. Recently, Homeland Security Secretary Kristi Noem announced she had ordered the termination of the school's Student and Exchange Visitor Program certification, which allows Harvard to enroll international students. The university sued, and on May 23, a federal judge issued a preliminary injunction that prevents the Trump administration from revoking Harvard's SEVP certification without further legal process. Then, on May 27, Trump ordered the cancellation of the government's remaining federal contracts with Harvard, worth an estimated $100 million. At the time, Garber called the move "perplexing," but said he believed the university needed to remain "firm in our commitments to what we stand for. And what we stand for — I believe I speak for other universities — is education, pursuit of the truth, helping to educate people for better futures." "Why cut off research funding?" Garber continued. "Sure, it hurts Harvard, but it hurts the country because after all, the research funding is not a gift. The research funding is given to universities and other research institutions to carry out work — research work — that the federal government designates as high-priority work. It is work that they want done. They are paying to have that work conducted." "Shutting off that work does not help the country, even as it punishes Harvard, and it is hard to see the link between that and, say, antisemitism," he noted. Students also referenced the ongoing attacks on their university during Thursday's commencement speeches. Salutatorian Aidan Robert Scully, who delivered his speech in Latin, told the crowd that, 'Neither powers nor princes can change the truth and deny that diversity is our strength.' Chinese graduate student Yurong 'Luanna' Jiang, reflected on how Harvard had opened her eyes to a global community. 'When I met my 77 classmates from 32 different countries, the countries I knew only as colorful shapes on a map turned into real people, with laughter, dreams, and the perseverance to survive the long winter in Cambridge,' she said. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. Fellow graduate Thor Reimann noted, 'We leave a campus much different than the one we entered, with Harvard at the center of a national battle over higher education in America.' 'Our university is certainly imperfect, but I am proud to stand today with our graduating class, our faculty, and our president in the shared conviction that this ongoing project of veritas is one worth defending,' he shared. Read the original article on People
Yahoo
4 days ago
- General
- Yahoo
Harvard president urges the school to address lack of conservatives on campus
Harvard's president said the lack of conservatives on the Ivy League campus, and fear of expressing "unpopular" views among students and faculty are problems the school "really need[s] to address." "The administration and others have said conservatives are too few on campus and their views are not welcome. In so far as that's true, that's a problem we really need to address," Harvard President Alan Garber told NPR. Garber said the university needed to address a lack of "viewpoint diversity" on its campus, sharing how students don't feel free to speak their minds. He added how faculty members have to "think twice" before teaching certain subjects. Garber said people have come forward claiming a stifling environment on campus. Trump Ramps Up Heat On Harvard: Here Are 5 Reasons From The University's Own Investigation "Many members of our community have been alarmed that students have become increasingly reluctant to speak openly about controversial or uncomfortable topics, especially if they believe their personal views are unpopular. That's a problem we need to solve," Garber said in a separate interview with The Harvard Gazette. Garber was appointed as president of Harvard in August 2024 after having served as interim president starting in Janurary 2024. His predecessor, former President Claudine Gay resigned amid mounting antisemitism at the university, a plagiarism scandal and disastrous testimony before Congress. Gay said calls for exterminating the Jews were against Harvard's code of conduct "depending on the context" when questioned by Rep. Elise Stefanik, R-NY., at the December 2023 hearing. Read On The Fox News App In the wake of increasing antisemitism on college campuses, Garber has faced escalating pressure from the Trump administration to crack down on antisemitism and Diversity, Equity and Inclusion policies. The White House froze $3.2 billion in grants to Harvard, attempted to disqualify the school from admitting international students, and instructed federal agencies to cancel $100 million of the remaining contracts with the school on Tuesday. Trump Accuses Harvard Of Being 'Very Slow' To Turn Over Foreign Student Info "As a result of your refusal to comply with multiple requests to provide the Department of Homeland Security pertinent information while perpetuating an unsafe campus environment that is hostile to Jewish students, promotes pro-Hamas sympathies, and employs racist 'diversity, equity and inclusion' policies, you have lost this privilege," Department of Homeland Security Secretary Kristi Noem said in a letter to Harvard. Garber pushed back on the administration's attempts to crack down on antisemitism by withholding research grants to the university, claiming that money goes towards scientific research that benefits the country. "What is perplexing is that the measures they've taken to address that don't even hit the same people that they believe are causing the problems," Garber told NPR. The university president went on to say that the most disturbing element of antisemitism on his campus arises from "shunning." He claimed Israeli students have spoken out about incidents where students refused to continue speak with them after learning of their nationality. However, Garber said the university had made progress in combatting antisemitism over the last year. "There has been tremendous division on campus over that period of time. There are faculty and students who disagreed with one another about what the university should do. But the main purpose of that report was to identify the problems that we face, particularly with regard to our Jewish and Israeli students," he article source: Harvard president urges the school to address lack of conservatives on campus
Fox News
4 days ago
- General
- Fox News
Harvard president urges the school to address lack of conservatives on campus
Harvard's president said the lack of conservatives on the Ivy League campus, and fear of expressing "unpopular" views among students and faculty are problems the school "really need[s] to address." "The administration and others have said conservatives are too few on campus and their views are not welcome. In so far as that's true, that's a problem we really need to address," Harvard President Alan Garber told NPR. Garber said the university needed to address a lack of "viewpoint diversity" on its campus, sharing how students don't feel free to speak their minds. He added how faculty members have to "think twice" before teaching certain subjects. Garber said people have come forward claiming a stifling environment on campus. "Many members of our community have been alarmed that students have become increasingly reluctant to speak openly about controversial or uncomfortable topics, especially if they believe their personal views are unpopular. That's a problem we need to solve," Garber said in a separate interview with The Harvard Gazette. Garber was appointed as president of Harvard in August 2024 after having served as interim president starting in Janurary 2024. His predecessor, former President Claudine Gay resigned amid mounting antisemitism at the university, a plagiarism scandal and disastrous testimony before Congress. Gay said calls for exterminating the Jews were against Harvard's code of conduct "depending on the context" when questioned by Rep. Elise Stefanik, R-NY., at the December 2023 hearing. In the wake of increasing antisemitism on college campuses, Garber has faced escalating pressure from the Trump administration to crack down on antisemitism and Diversity, Equity and Inclusion policies. The White House froze $3.2 billion in grants to Harvard, attempted to disqualify the school from admitting international students, and instructed federal agencies to cancel $100 million of the remaining contracts with the school on Tuesday. "As a result of your refusal to comply with multiple requests to provide the Department of Homeland Security pertinent information while perpetuating an unsafe campus environment that is hostile to Jewish students, promotes pro-Hamas sympathies, and employs racist 'diversity, equity and inclusion' policies, you have lost this privilege," Department of Homeland Security Secretary Kristi Noem said in a letter to Harvard. Garber pushed back on the administration's attempts to crack down on antisemitism by withholding research grants to the university, claiming that money goes towards scientific research that benefits the country. "What is perplexing is that the measures they've taken to address that don't even hit the same people that they believe are causing the problems," Garber told NPR. The university president went on to say that the most disturbing element of antisemitism on his campus arises from "shunning." He claimed Israeli students have spoken out about incidents where students refused to continue speak with them after learning of their nationality. However, Garber said the university had made progress in combatting antisemitism over the last year. "There has been tremendous division on campus over that period of time. There are faculty and students who disagreed with one another about what the university should do. But the main purpose of that report was to identify the problems that we face, particularly with regard to our Jewish and Israeli students," he said.
First Post
4 days ago
- Politics
- First Post
George Floyd Memorials Held Amid Reform Rollback Fears Firstpost America
George Floyd Memorials Held Amid Reform Rollback Fears | Firstpost America | N18G George Floyd Memorials Held Amid Reform Rollback Fears | Firstpost America | N18G Five years after George Floyd's death sparked global outrage and a nationwide reckoning with racism, Americans gathered in Minneapolis and Houston to honour his memory. Commemorative events included services, performances, and calls to continue the push for justice and police reform. But as President Donald Trump rolls back key reforms and Diversity, Equity and Inclusion initiatives, many fear the momentum for change is fading. Civil rights leaders like Rev. Al Sharpton urged renewed commitment, while recent polls show public support for Black Lives Matter and belief in racial progress have declined. With Floyd's mural demolished in Houston and reform efforts under threat, the anniversary has become both a tribute and a sobering reminder of how far there is still to go. See More
