I hear the "go woke go broke" saying a lot, but can't actually think of a good example of this happening in practice.
I'd switch that around a little, I'd say show me a woke company that's making an operating profit? I can't think of many, and this is the point of why most go DEI or ESG. The reason I switch it around a little is because rather than going broke, companies that adhere to DEI or ESG have access to almost endless credit lines. But those credit lines will only last so long, rising interest rates are garlic to the vampire of DES and ESG, and they will rise. They will go out of business, they can't be turned around when rates return to normal. Then the list of broke companies you requested will be a long one.
Harley Davidson is one currently in a battle with its loyal customers. Again, another company with huge amounts of debt.
Due to money printing over the last 20 years, most corporations are running at losses and to compete for market share. How can you compete with Amazon that doesn't care about making a profit? That means your business won't survive without access to Corporate credit facilities, going through some asset stripping, or being sold to venture capitalists.
When a Corporation goes to the market for funding, most Corporations that need to borrow money have DEI conditions placed upon them in order to get the loans at the cheapest price if anything can be raised at all, I don't think that it is a
disputed subject.
John Lewis went through some financial restructuring in 2020, external loans to pay off more expensive bonds. In my opinion I don't think their is a doubt that someone from an ethnic minority would have ticked some boxes for DEI/ESG investors such as Blackrock. John Lewis would have gotten cheaper funding because they ticked the DEI boxes.
But the fact is, they did choose a non-commercial Civil Servant with no experience in retail to run a retail giant, and that's very odd. They set the girl up to fail, she maybe a very talented person, but asking her to go in and run a retail business was an impossible task. You need a lifetime of experience of retail to even think about taking over something like that.