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When management consulting firm McKinsey declared in 2015 that it had found a link between profits and executive racial and gender diversity, it was a breakthrough. The research was used by investors, lobbyists and regulators to push for more women and minority groups on boards, and to justify investing in companies that appointed them. Unfortunately, the research doesn’t show what everyone thought it showed. ... Since 2015, the approach has been tested in the fire of the marketplace and failed. Academics have tried to repeat McKinsey’s findings and failed, concluding that there is in fact no link between profitability and...

Where did China get the idea to dominate specific sectors of the tech industry by pushing out US competitors? The plan, known as "Made in China 2025," was at least partly inspired by a 300-page book written for them by McKinsey and Company, an American strategy and management consulting firm. The Financial Times was the first to report on McKinsey's contribution to China's 13th five-year plan back in February.A McKinsey-led think-tank advised China to deepen co-operation between business and the military and push foreign companies out of sensitive industries as part of a project for the central government in 2015.The...

Paris (AFP) – French prosecutors said Wednesday that they had searched the headquarters of President Emmanuel Macron's Renaissance party in their investigation into the use of consulting firms by the government since 2017. The Paris offices of US consulting giant McKinsey were also searched on Tuesday, the National Financial Prosecutors' Office said, confirming a report in Le Parisien newspaper. The use of consultants by Macron's governments came under the spotlight in March after a French Senate inquiry concluded that public spending on them had more than doubled from 2018 to 2021, during Macron's first term. "It's normal for the judiciary...

China has beat the U.S. to become the world’s richest nation, according to a new report. -- Key findings: Global net worth soared from $156 million in 2000 to $514 trillion in 2020, making the world wealthier than it was at any point in history. China accounted for nearly a third of the increase, the report from management consultancy firm McKinsey & Company stated. McKinsey analyzed the national balance sheets of 10 countries that represented 60% of the world’s income. Of these nations, China accounted for 50% of the growth in net worth, followed by the U.S. (22%) and Japan...

A consulting firm with ties to communist China is set to pay Nevada $45 million after it spread propaganda that contributed to the state’s opioid crisis.The state’s Democrat Attorney General Aaron Ford announced the settlement with McKinsey & Company on Monday, just one month he “opted out” of another settlement worth $573 million with 47 states and Washington D.C. over the opioid propaganda which would have left Nevada with a “woefully insufficient” $7 million.“Nevada is a hardest-hit state by the opioid crisis and is owed a great deal of compensation and justice,” Ford said in a press release, noting that...

They all worked for the Democrat CIA front Company McKinsey & Company. McKinsey consultants gave 27 times more money to Hillary Clinton’s campaign than to Donald Trump’s. The members of my team attended the Women’s March while serving an agency shaped by the man they marched against. “McKinsey has also produced some of America’s most high-profile corporate executives, including: Henrique De Castro – former Google executive and former chief operating officer of Yahoo Etienne de Villiers – former Executive Chairman and President of the ATP Tour, former President of Walt Disney, and former chairman of BBC Worldwide Sheryl Sandberg –...

Pete Buttigieg worked nearly three years for the consulting firm McKinsey & Company, and he has presented that experience as a kind of capitalist credential — distinguishing him from some rivals for the Democratic presidential nomination, and inoculating him against Republican attacks. “They’ll try the socialist thing,” Mr. Buttigieg told an Iowa audience in September, referring to a likely line of attack by President Trump and his allies against whichever Democrat emerges as his opponent in next year’s election, “but the thing is, I got started in the private sector.” The thing is, Mr. Buttigieg has said precious little about...

Amelia Warren Tyagi is the oldest child and only daughter of rising Democratic presidential candidate Elizabeth Warren. Despite the inevitable pressure generated by her mother's tremendous success, Tyagi has forged a path for herself as a prosperous author, entrepreneur, and chair of a progressive think tank called Demos. Now, her connections – like Hunter Biden's – are raising eyebrows. Twitchy reports that Demos gave the far-left Working Families Party $45,000 in 2017-2018. That might not seem noteworthy, but the Working Families Party recently endorsed Elizabeth Warren for president, to the surprise of many.

Insiders say a multimillion dollar McKinsey-fueled overhaul of the country’s intelligence community has left it less effective. Dan McCready, congressional candidate in North Carolina worked for McKinsey. McKinsey has secured close to $1 billion in government contracts in just the past 10 years. Its work with the intelligence community goes back at least a decade — the firm played a central role in helping the FBI transform its intelligence mission in 2005 in response to pressure from the White House to restructure the bureau’s budget. “They were receiving a generous consulting fee, but did not appear from my vantage to...

A new report by consulting giant McKinsey finds that Germany's Energiewende, or energy transition to renewables, poses a significant threat to the nation's economy and energy supply. One of Germany's largest newspapers, Die Welt, summarized the findings of the McKinsey report in a single word: "disastrous." "Problems are manifesting in all three dimensions of the energy industry triangle: climate protection, the security of supply and economic efficiency," writes McKinsey. In 2018, Germany produced 866 million metric tons of carbon dioxide, a far cry from its goal of 750 million tonnes by 2020. Thanks to a slightly warmer winter, emissions in...

At the global consulting firm McKinsey & Company, the rule is sacrosanct: Never publicly disclose client advice. And for the most part, adherence to that rule has served the company well. But in recent months, as government officials seek to assign blame for the opioid crisis that has strangled large parts of the nation, McKinsey’s advice is surfacing in ways that are deeply embarrassing for the influential firm, whose clients include many of the world’s most admired companies. One lawsuit revealed McKinsey recommending that a pharmaceutical company “get more patients on higher doses of opioids” and study techniques “for keeping...

... I found it staggering that we have seen such an increase. To go from a world where about 2 percent of the people in the developed world were facing this problem to a world where somewhere between 25 percent and 50 percent of people in the developed world are no longer advancing is such a substantial step up. ... First of all, the rise of technology replacing jobs. We’ve seen this today. Remarkably, if you go back 500 years, there were monks who used to write out Bibles, whose jobs disappeared when the printing press came along. But what...

Berlin’s mayor has been forced to answer questions in parliament over the decision to grant a lucrative contract to the consultancy McKinsey. The US firm has hired one of the mayor’s old party colleagues. The list of companies turning a profit from Germany’s influx of refugees grew a little longer in early March, when US consultancy McKinsey signed a €238,000 ($268,000) contract to come up with a plan to integrate the city’s influx of 80,000 refugees. Now that deal, much criticized a month ago because it had been handed to the company without a tender process, has gained an extra...

Europe’s young people lack the skills for work despite record levels of unemployment, according to a report by the US-based consultancy giant McKinsey. In its study, “Education to Employment,” published on Monday (13 January), McKinsey said one in three firms feel that a lack of skills among Europe’s youth posed major business problems, in the form of cost, quality, or time. Meanwhile, 27 percent reported that they had left a vacancy unfilled over the past 12 months because they could not find anyone with the right skills. …

OCTOBER 17, 2009 Rajaratnam Surfaced in U.S. Terrorism Probe By EVAN PEREZ and MATTHEW ROSENBERG WASHINGTON—The hedge-fund billionaire charged as part of a vast insider-trading case surfaced in an earlier, separate probe into U.S. fundraising by a Sri Lankan terrorist group, people familiar with the probe said. As part of that investigation, federal agents said they uncovered documents showing that Raj Rajaratnam, founder of the Galleon Group, was among several wealthy Sri Lankans in the U.S. whose donations to a Maryland-based charity made their way to the Liberation Tigers of Tamil Eelam, according to people familiar with the probe. Raj...

Two weeks ago, the consulting firm McKinsey & Co. released a widely reported survey that said almost a third of private-sector employers reported they will drop their employee health insurance coverage when Obamacare's government-managed insurance exchanges come online in 2014. The survey results exploded two major claims repeatedly made by Obama during and since the conclusion of the health care debate: "If you like your health plan, you can keep it" and "It will not add one penny to the deficit." Obama and his allies reacted with fury to the McKinsey results. Obama's deputy chief of staff for policy, Nancy-Ann...

The United States will have to create 21 million jobs in the next 9 years to reach full employment, according to a study from the consulting group McKinsey. The report details how this is going to be a long slog. It will take 60 months at our current growth rate to return to pre-recession employment levels, according to the report. And that doesn't even count all those new employees entering the workforce. More Americans will need to go back to school to get these new jobs, with McKinsey estimating that the market needs 1.5 million more Americans with undergraduate degrees....

Inadequate career development has kept women from reaching the top ranks of the corporate ladder, according to a report set to be released Tuesday by management consulting firm McKinsey & Co. The report, which examines barriers to women's advancement in corporations, is primarily based on a 2011 survey of 2,525 college-educated men and women, including 1,525 individuals employed by large companies, mainly in management. Despite efforts by major companies, just a handful of women have ascended to the leadership pinnacle, the McKinsey report concluded. Only 11 chief executives of Fortune 500 companies are women, down from a peak of 15...

A paper released by McKinsey & Co. last week concludes that 28% of asset managers are not responding adequately to the recent storm hitting their industry. McKinsey chalks this behavior up to “depression and denial”. But wait. There is hope for the future of the asset management industry. The consultancy also concludes that 13% of asset management firms are “decisive operators” who have pared back costs and preserved profits (or at least, mitigated a fall in profits). These conclusions and accompanying prescriptive remedies are contained in a report called “Recovering from the storm: The new economic reality for U.S. asset...

*snip* The Obama transition team released the names of 13 people on Wednesday who will direct a top-to-bottom review of federal agencies and another six who will lead teams that will review Treasury, State and Defense department policy, budget and personnel issues. *snip* It includes four former lobbyists, three top campaign fund-raisers and two former employees of troubled mortgage giant Fannie Mae, with some overlap among them. Four people in the group have ties to the consultant McKinsey & Co. and two have experience leading high-tech start-ups. Mr. Obama's transition advisers include Tom Donilon, a top lobbyist for Fannie Mae,...