Skip to content
Search

Latest Stories

Top Stories

Honoring Juneteenth: What we need from corporate America

Juneteenth, Black Freedoom Flag
Arseniy45/Getty Images

Reid, a rising senior at Yale majoring in history, is a special assistant to the CEO at GenUnity, a civic wellbeing nonprofit. Chang is the co-founder and CEO.

Last month, a tweet from Dollar Tree advertising Juneteenth-themed party supplies received backlash for failing to provide any historical context for these items and, instead, commercializing a sacred holiday. This was yet another example of a company missing the mark on what authentic solidarity with the Black community looks like.

Juneteenth is a day of celebration and reflection about the journey towards a more equitable society. But too often, companies have demonstrated a deep misunderstanding of its importance. Companies need to think deeply about what solidarity with the Black community means and start taking more thoughtful actions to honor Juneteenth and accelerate our country’s journey towards a more perfect union.


Recently made a federal holiday, Juneteenth commemorates the end of slavery in the United States. To celebrate, we gather to honor the richness of Black history and the legacy of Black Americans in advancing equity while reflecting on the many ways freedom continues to remain elusive for the Black community. Indeed, it was only a few weeks ago that 10 Black people were killed at a supermarket in Buffalo.

Sign up for The Fulcrum newsletter

In the face of these recurring injustices, Juneteenth is an opportunity for reflection and recommitment to the work ahead, but too often our corporate leaders misunderstand what solidarity with the Black community is. For example, Walmart recently apologized for selling a Juneteenth-flavored ice cream which was seen by many “as a marketing scheme” to sell its products. Business leaders need to interrogate whether their intentions and actions – not only on Juneteenth but throughout the year – truly center racial equity.

The practice of equity-centered leadership starts with creating spaces for community building, learning and reflection; elevating diverse, proximate leaders; and translating learning into strategic action. And, we urgently need more business leaders to invest meaningfully in this core competency throughout their organizations.

Cultivating this leadership starts internally on an individual and organizational level. Corporate executives and managers should think about how they are creating spaces that elevate Black lived experiences without the burdens of tokenization and build community and understanding across differences, both in the workplace and in the broader community. The data tells us we can and must do better: A 2021 Gallup survey found that more than 60 percent of American adults knew “nothing at all” or “only a little bit” about Juneteenth.

Corporate leaders also need to reflect on how they decentralize decision-making to those most proximate to the issues that impact the Black community. Do they have Black employees and leaders throughout the organization? Do those employees have the authority to shape strategic decisions concerning equity? If not, companies compromise the good-governance principles that advance progress towards racial equity.

Importantly, just as reflection on racial equity cannot be contained to one day a year, advancing racial equity cannot be siloed off from a company’s core business. Increasingly, investors and customers expect companies to be intentional and thoughtful about how they tackle social issues – many of which directly impact the Black community. Going back to Walmart, some have shared that, instead of rolling out a Juneteenth ice cream, Walmart could have elevated Black-owned Creamalicious Ice Cream to demonstrate solidarity with the Black community. Companies that limit the exploration of racial equity to internal workplace culture initiatives will miss out on these critical opportunities to align doing well with doing good.

Today, we honor Juneteenth to remember the courage and sacrifice of American heroes who have come before us and who, in the face of extreme adversity and personal risk, led our country to the next stage on its journey towards freedom and equality. So, as we celebrate today, let’s consider and commit to the internal and external ways we, and our organizations, can advance racial equity.

Read More

Mark Zuckerberg holding a pair of glasses

Mark Zuckerberg, who is now worth more than $200 billion, shows off new wearabel tech at the Meta Connect developer conference in September.

Andrej Sokolow/picture alliance via Getty Images

We have extreme inequality in America, and it’s getting worse

Cooper is the author of “How America Works … and Why it Doesn’t.

Bloomberg recently reported that Meta founder Mark Zuckerberg is now worth over $200 billion. He’s not alone. Amazon founder Jeff Bezos, Tesla founder Elon Musk, and LVMH founder Bernard Arnault are also worth north of $200 billion.

The news is a searing reminder of the uneven distribution of wealth in America. In the same country as Zuckerberg, Bezos, and Musk reside millions of people without a reliable source of food. (Arnault lives in France.) Redistributing just a small portion of the richest Americans’ wealth could alleviate tremendous human suffering.

Keep ReadingShow less
Mobile phone listing Google, Amazon, Meta, Apple and Microsoft

Like black holes, the largest companies have a reach seemingly exceeds human capabilities, writes Frazier.

SOPA Images/Getty Images

Corporate black holes prevent fair play in the U.S. economy

Frazier is an assistant professor at the Crump College of Law at St. Thomas University and a Tarbell fellow.

NASA defines a black hole as “a place in space where gravity pulls so much that even light can not get out.” This celestial abnormality can even distort space-time. Though invisible to the human eye, a black hole is detectable by the extent to which everything around it is morphed to its will.

The same is true of our biggest corporations. The total reach of companies like Amazon, Meta and Google seemingly exceeds human capabilities. Yet, the extent to which our laws, culture and daily lives revolve around these corporate black holes reveals a hard truth: Fair play does not characterize our economy. The best ideas may never come to fruition and the smartest people may never realize their potential — they lack the escape velocity necessary to operate beyond the pull of the black holes.

Keep ReadingShow less
Iceberg hiding money below
wenmei Zhou/Getty Images

The hidden iceberg: Why corporate treasury spending matters

Freed is president and co-founder of the Center for Political Accountability.

Too much media coverage and other political analyses focus on contributions by corporate political action committees but overlook the serious consequences of political contributions made directly from corporate treasury funds.

In talks with corporate executives, the default too often is almost exclusively on company political engagement through its PAC. This ignores what one political scientist has likened to an iceberg of spending, where disclosure is not required (and hence is “dark money”) or is partial (only by the recipient, not the donor) and totals are much greater than the amounts allowed for PAC spending.

Keep ReadingShow less
hand reaching out over an American flag
Nikolay Ponomarenko/Getty Images

Big Philanthropy to the rescue? Think again.

Cain has served in leadership roles at numerous foundations, nonprofits and for-profit corporations. He was a founding partner of American Philanthropic.

As the media and elites across America take up a fight to “save democracy,” Big Philanthropy is casting itself in the role of superhero. Since 2011, the University of Pennsylvania’s Center for High Impact Philanthropy reports, some $5.7 billion has gone to programs supporting U.S. democracy, with grant announcements that often depict foundations as stepping up to forestall a doomsday.

The Carnegie Corporation, warning of a “fragility of our democracy ... unimaginable just a few years ago,” has pledged to strengthen social cohesion and combat polarization. The MacArthur Foundation is partnering with Carnegie and the Ford and Knight foundations, among others, in the $500 million Press Forward effort to “address the crisis in local news.” As Knight president Alberto Ibargüen put it to the New York Times: “There is a new understanding of the importance of information in the management of community, in the management of democracy in America.”

Keep ReadingShow less