Useful information
Prime News delivers timely, accurate news and insights on global events, politics, business, and technology
Former NYSE Floor Executive Governor Jay Woods explains why some big companies might be scrapping their DEI initiatives in Cavuto: Coast to Coast.
Costco shareholders have flatly rejected a proposal calling for a report on the risks associated with keeping its diversity, equity and inclusion (DEI) efforts in place, the wholesale club said Thursday.
Preliminary results show that about 98% of shareholders voted against the measure, according to the company.
Costco shareholders vote overwhelmingly against assessing the risk of keeping the company’s DEI programs in place. (Angus Mordant/Bloomberg via Getty Images/Getty Images)
Last month, Costco’s board came out unanimously against the proposal, which was brought forward by shareholder activist the National Center for Public Policy Research, which raised concerns about the risk of Costco’s DEI program after the court ruling. Supreme. Sffa v. harvard that discrimination on the basis of race in college admissions violates the equal protection clause of the 14th Amendment.
DEI Policy Scaling Goal After Trump Signs Executive Order
The proposal cites how attorneys general in 13 states have warned Fortune 100 companies that the ruling implicated Corporate DEI programs, and several lawsuits have been filed.
OpentheBooks CEO John Hart discusses how billions of taxpayer dollars are wasted on DEI measures, on ‘the bottom line’.
But Costco’s board defended its programs.
“Consistent with our commitment to ‘obey the law,’ we regularly evaluate our practices with respect to law enforcement, including evolving Supreme Court decisions,” the board wrote in response to the proposal. “We believe our diversity, equity and inclusion efforts are legally appropriate, and nothing in the proposal demonstrates otherwise.”
What caused the revolt against Dei in the United States?
Costco and its shareholders’ continued adoption of DEI comes as support for the programs is wavering in the private sector as well as the public sector.
| Heart | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | Costco Wholesale Corp. | 942.16 | -2.54 | -0.27% |
Over the past year, more than a dozen major companies, including Walmart, McDonald’s, Ford and Amazon, have scaled back their DEI initiatives, and shareholder resolutions at U.S. corporations seeking to counter DEI programs and other corporate social considerations got less from 2% support to 2% on average in 2024.
Get Fox’s business on the go by clicking here
President Donald Trump He signed an executive order Monday to eliminate all federal government DEI programs.
Fox Business’ Danielle Wallace and Reuters contributed to this report.
