Skip to main content

BLACK ECONOMIST SEEKING ACCOUNTABILITY FROM SEC ON $65 BILLION IN BLACK LIVES MATTER PLEDGES BY COMPANIES


Pursuing some accountability, a Black economist has filed a petition with the Securities and Exchange Commission (SEC) to require companies to report on Black Lives Matter (BLM) pledges.

The request by William Michael Cunningham, who runs Washington, D.C.-based Creative Investment Research, says data from his firm shows 251 U.S. companies promised to battle systemic racism within their own organizations. All told, Cunningham claims those companies pledged $65 billion to boost their diversity and equity initiatives from May 2020 to May 2021. Yet, to date, Cunningham maintains that $500 million has been allocated toward such efforts.

Compared to $500 million, Cunningham estimates the commitments by now should be $15 billion to $20 billion based largely on damages Black companies have suffered from the COVID-19 pandemic. He says his projections are tied to the companies having combined profits of $750 billion as of 2019.

https://www.blackenterprise.com/black-economist-seeking-accountability-from-sec-on-65-billion-in-black-lives-matter-pledges-by-companies/

Labels:

Popular posts from this blog

Maternal Health Financing Facility for Black Women: A Solution to an Urgent Problem

Maternal mortality is a significant issue in the United States, with Black women disproportionately affected. Research conducted by the Centers for Disease Control and Prevention (CDC) has shown that Black women are more likely to die from pregnancy-related causes than their white counterparts. However, the issue is not new, and despite the increasing amount of data available, the disparities have remained unaddressed for far too long.  Creative Investment Research (CIR) is among the organizations that believe there is a solution to the problem. Through our proposed impact investing vehicle , the Maternal Health Financing Facility for Black Women (MHFFBW), we aim to tackle the mortality gap and support Black women during childbirth, which will, in turn, benefit their communities. The Facility, based on legally binding financing agreements containing terms and conditions that direct resources to individuals and institutions capable of addressing supply-side conditions at the heart...
Read more

Kamalanomics: Home and Health

Vice President Kamala Harris recently unveiled her economic plan, which builds upon and expands several initiatives from the Biden administration while adding new elements aimed at addressing economic challenges faced by American families. Her plan, dubbed the "Opportunity Economy" agenda, focuses on lowering costs for essential goods and services, particularly targeting housing, healthcare, and groceries. Key Components: 1. Housing: Harris proposes constructing three million new homes to address the housing supply crunch, which is more ambitious than Biden's two-million-home plan. She also advocates for a $40 billion "innovation fund" to encourage local governments to find solutions to housing shortages and make it harder for investment companies to buy up large numbers of rental properties, which has driven up rent prices. (See: Comments to the CalPERS Board of Administration, July 15, 2024 on Housing and Environmental Investing.) 2. Healthcare: Expanding on B...
Read more

Projected Impact of Gun Laws on Corporate Profits in Texas

More Fortune 500 companies are located in Texas than in any other state. Texas successfully used low taxes and minimal regulations as bait to recruit companies like Tesla and Oracle. The state promoted these “advantages” in ads highlighting their “free-market” environment and criticizing the "tax and spend policies of liberal leadership" in Democrat-run states. Four million people migrated to Texas over the past ten years. Our economic models predict a reversal, however. State of Texas corporations on the Fortune 1000 list generate $2.2 trillion in revenue, $158 billion in profit. They have a market value of $3.8 trillion and employ 2.5 million people nationwide. We continue to believe this increased corporate presence in Texas imposes a tax on the nation as a whole. Texas allows anyone 21 or older to carry handguns without training or licenses, and maintains lower gun purchase age limits. Beyond the recent abortion bill, which allows people to sue those who "aid and abe...
Read more