• A Portrait in Corporate Patriotism with Greg Penner of Walmart, plus a game that gives thanks

  • Nov 26 2024
  • Length: 41 mins
  • Podcast

A Portrait in Corporate Patriotism with Greg Penner of Walmart, plus a game that gives thanks

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  • The Business Pants Thanksgiving Special Game!Let’s take a trip through history:Dark agesWalmart pulls back on DEI efforts, removes some LBGTQ merchandise from websiteThe nation’s largest employer, which has about 1.6 million U.S. workers, joined a growing list of companies that have stepped back from diversity, equity and inclusion efforts after feeling the heat from conservative activists.In a statement, Walmart said it is “willing to change alongside our associates and customers who represent all of America.”“We’ve been on a journey and know we aren’t perfect, but every decision comes from a place of wanting to foster a sense of belonging, to open doors to opportunities for all our associates, customers and suppliers and to be a Walmart for everyone,” the statement said.Among the changes, Walmart will no longer allow third-party sellers to sell some LGBTQ-themed items on Walmart’s website, including items marketed to transgender youth like chest binders, company spokeswoman Molly Blakeman said.She said it also recently decided to stop sharing data with the Human Rights Campaign, a nonprofit that tracks companies’ LGBTQ policies, or with other similar organizations.Additionally, the big-box retailer is winding down the Center for Racial Equity, a nonprofit that Walmart started in 2020 after George Floyd’s murder sparked protests across the country. At the time, Walmart and the company’s foundation pledged $100 million over five years to fight systemic racism and create the center.Over the past year, the company has phased out supplier diversity programs, which gave preferential financing to some groups, such as women and minorities, after the Supreme Court decision striking down affirmative action.It’s also moved away from using the term “diversity, equity and inclusion” or DEI in company documents, employee titles and employee resource groups. For example, its former chief diversity officer role is now called the chief belonging officer.Luddites UniteRansomware attack leaves Starbucks using pens and paper to track employee hoursNYC's Underground Steam System May Be Key to a Greener FutureSome 100 miles of steam pipes snake below Manhattan, delivering low-carbon vapor to some big-name customers. More buildings could soon tap in.DrugsKohl's CEO to depart after less than two years at the helmKohl's CEO Tom Kingsbury will step down after less than two years at the helm, paving the way for former Walmart executive Ashley Buchanan to take on the role as the department store chain looks to execute a turnaround.Kohl's said Buchanan improved profitability at Michaels Companies, a specialty retailer of arts and crafts supplies, where he has been the CEO since 2020, and grew its digital business while simplifying its merchandise strategy.Prior to Michaels, Buchanan was at retailer Walmart for 13 years, where he held a number of executive roles including chief merchandising and chief operating officer for Walmart U.S. e-Commerce.‘Drill, baby, drill’ is unlikely under Trump, Exxon saysOil and gas producers in the US will not raise output significantly in the coming years despite calls from President-Elect Donald Trump to “drill, baby, drill,” said Exxon Mobil Corp.’s Upstream President Liam Mallon.McDonald's gets into gift-giving with limited-time 2-toy Happy MealThe company said it will sell "Pet Simulator Happy Meals" featuring two toys at participating restaurants across the country beginning Tuesday. One of the toys will be gift-wrapped, the fast-food chain said."We hope this special Happy Meal inspires kids to share during this season of giving," McDonald’s executive Jennifer Healan said in a statement. "Whether they choose to give their extra toy to a family member, make a friend smile, or show kindness to a neighbor, it’s all about helping kids feel the joy of giving this holiday season."McDonald's to invest more than $100 million to speed up recovery after E. coli outbreakMeta, TikTok, Google slam Australia’s under-16 social media banUnder the proposed law, Australians under 16 years of age will be prohibited from setting up accounts on all major social media sites including Facebook, Instagram, Snapchat and Reddit, even if they obtain parental permission. The social media giants will be responsible for policing the ban, under threat of fines of up to 50 million Australian dollars ($32.5 million).Tech firms urge caution and more research(!):TikTok ANZ’s director of public policy Ella Woods-Joyce described the legislation as “rushed”Meta said the social media ban “overlooks the practical reality of age assurance technology.”Both Meta and Google said it was important for Australia to wait until a national trial of age verification technology was completed before passing the bill. “In the absence of such results, neither industry nor Australians will understand the nature or scale of age assurance required by the Bill nor the impact of such measures ...
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