Posted on 03/12/2023 6:50:01 PM PDT by E. Pluribus Unum
Home Depot founder Bernie Marcus said Friday on FNC’s “You World” that Americans to “wake up” after woke Silicon Valley Bank collapsed because they were “more concerned about global warming than they do about shareholder return.”
Marcus said, “I can’t wait for Biden to get on the speech again and talk about how great the economy is and how it’s moving forward and getting stronger by the day. And this is an indication that whatever he says is not true. And maybe the American people will finally wake up and understand that we’re living in very tough times, that, in fact, that a recession may have already started. Who knows? But it doesn’t look good. I feel bad for all of these people that lost all their money in this woke bank. You know, it was more distressing to hear that the bank officials sold off their stock before this happened. It’s depressing to me. Who knows whether the Justice Department would go after them? They’re a woke company, so I guess not. And they’ll probably get away with it.”
He continued, “I think that the system, that the administration has pushed many of these banks into more concerned about global warming than they do about shareholder return. And these banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns. Instead of protecting the shareholders and their employees, they are more concerned about the social policies. And I think it’s probably a badly run bank. They’ve been there for a lot of years. It’s pathetic that so many people lost money that won’t get it back.”
(Excerpt) Read more at breitbart.com ...
If we split up the country libtards will go broke in nothing flat and could easily be enslaved for our enjoyment And entertainment
It’s just a thought ….
Get woke Go Broke.
Go woke, go broke.
Was NOBODY at SVB even listening?
This reminds me...
Gotta send a letter to hershey...
Gonna do the same thing to them that I did to gillette, target, penneys, etc.
Get woke, go broke
What about all of the states and cities getting woke stupid with pension funds. Tip of the iceberg.
Wokists need to provide reparations to MAGA.
Yugely, big time.
Rather than some ideas and shareholder returns, shouldn’t the bank be worried about its customers?
I guess Marcus is a disciple of the Jack Welch school of running a business.
Yellen is going to bail out the bank.
If it were the “little” people’s money it would be gone gone gone.
What will happen is they will print more money and cause more inflation and more rate hikes to cover rich people money again at everyone else’s expense.
Oprah who would have lost $590 million must have made a phone call.
FDIC Will Protect All Silicon Valley Bank Deposits After Sudden Collapse, Treasury Says
https://www.forbes.com/sites/marisadellatto/2023/03/12/fdic-will-protect-all-silicon-valley-bank-deposits-after-sudden-collapse-treasury-says/?sh=1bbfa272216c
“Everything woke turn to chit”
-Donald J. Trump, Aug. 21, 2021, Cullman, Alabama.
I suspect a bank should be managed to try to get a 3% annual return on its deposit base.
There was a 3-6-3 rule for savings & loans in my youth: pay depositors 3%, charge 6% on mortgages, and hit the golf course at 3pm.
Well, on the bright side, They may not have cared about shareholder returns and stole nearly everything from their depositors, but at least they paid themselves huge bonuses hours before they collapsed.
Government pension underfunding is massive.
likely to get clawed back
There are some that I think are fine with being enslaved. They are just too ignorant that they are enslaved to government. Anyone who works and makes a decent salary is enslaved to government for half the year. What the difference being enslaved for our enjoyment? It’s one master or another. I know my slaves will be well cared for, happy and singing the day away.
If you need help from Team Biden it helps to put on donkey ears.
You can’t fix stupid. Education won’t fix it. Money won’t fix it. Nothing can fix it.
Technically, the purpose of any business should be to maximize returns for its owners (i.e. shareholders). Obviously, serving the customers well over time can be an important part of that equation.
Go with Biden, get a hidin’
Perfect example of what ESG will do to your investments....
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.