In the realm of corporate culture, Spirit has been making strides towards fostering a diverse, equitable, and inclusive environment. The company has set its sights on improving the representation of women and ethnic minorities in leadership roles, and has established partnerships with external DE&I organizations. Internally, Spirit has launched initiatives such as global DE&I councils and employee business resource groups (EBRGs), which focus on various demographics including women in engineering, military personnel, and Hispanic and Latino employees. Spirit’s signature diversity leadership program, Taking Flight, encourages cross-functional teams to collaborate on projects that support the business. Additionally, Spirit’s supplier diversity initiative aims to provide opportunities to a range of businesses, including those that are small, minority-owned, women-owned, veteran-owned, and located in Historically Underutilized Zones.
However, not everyone is on board with the DE&I movement. A counterpoint to Spirit’s efforts comes from an author who argues that the concepts of diversity, inclusion, and equity are a “big lie” perpetuated by “woke culture.” The author contends that the current approach to diversity often labels those who question it as bigots or racists, and paradoxically, does not promote true diversity. They argue for a society that tolerates and accepts differences, without forcing people to embrace every lifestyle choice. The author warns against the “DEI carrot,” claiming it fosters resentment and anger, and ultimately achieves the opposite of its intended goal.
Switching gears to the financial sector, Jim Rickards, in a recent interview, shed light on the collapse of Long-Term Capital Management (LTCM) in 1998. Contrary to popular belief, Rickards clarified that the Federal Reserve did not bail out LTCM, but instead facilitated a private rescue effort led by Wall Street firms. He underscored the significant role the derivatives market played in the crisis and criticized regulators for failing to address the associated risks. Rickards also pointed out that the LTCM crisis should have served as a warning for the 2008 financial crisis, but the lessons were not learned. He concluded by discussing the flawed assumption of normal distributions in capital markets and the need to question existing theories when they do not align with the data.
This is a companion discussion topic for the original entry at https://peakprosperity.com/daily-digest/diverse-flight-divisive-debates-spirits-strides-and-dissent/