Tractor Supply has gone woke. Haven't shopped there in over a year because their prices are higher (often by almost 50%) than their competition. That, and even the last time I was in one of their stores, they had stopped being what they were founded as (we sell tractors and tractor accessories), and had become Kitsch Mart. Yeah, it turns out their "new" CEO is the guy who ran Macy's almost into the ground a while back and got canned.
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The CEO came in 2020 and brought his DEI shit and ever since their stock prices rose. So TS was going broke, they went woke, and got better credit scores and rates leading to greater prosperity. Soon they will push too far and their base will get offended and stop going there.
It's go broke, go woke, go broke....except they won't go broke because tax dollars will bail them out because of their high ESG score.
He also decided that TSC's yearly Chick Days-- you know, that thing they did that brought in a lot of people and caused a lot of followup sales (because urban "homesteaders" buying chickens bought supplies at TSC) were not profitable enough and started buying culls/seconds for chicks. Which then died in droves, both in stores and on the way home with people. And then Rural King swooped in and took over a lot of hatchery contracts.
Most companies don’t give a shit. They strive to see stocks go up and make drastic changes if that shit goes too low for too long.
Yet again these companies chase short term profits over long-term sustainability every time. Idk when they’ll learn but the big winners here are the brave and inclusive CEOs that do this shit and golden parachute their way into another business to do the same thing
It probably has to do to ego and competition. I have to imagine a good chunk of these fellas want to win and nurturing and maintaining long term investments isn't thought of as a sexy enough win.
So what you're saying is they're engaging in serious securities fraud.
I'm not in the SEC but I don't think it's illegal to raise your ESG score with useless DEI initiatives.
No, but I do think it's
misleadingillegal to artificially inflate stock prices.