I wonder which ESG-friendly firm they will turn? Vanguard is just as bad. Maybe E. F. Hutton.
I hope Florida follows.
Larry Fink..
Another insanely rich fool who thinks he’s immortal.
Good news out of Baton Rouge.
PING!
A fitting last name.
Good. I hope more of this happens
Louisiana needs to invest in DRLL stock.
https://finance.yahoo.com/news/anti-woke-issuer-plans-more-190000187.html
bravo. more States to follow, hopefully. so important.
5 Oct: CNBC: Profits over politics: the case for anti-ESG ETFs
by Kevin Schmidt
“Our perspective is that U.S. energy companies should be focused on drilling on fracking, on doing whatever allows them to be most successful over the long run,” Vivek Ramaswamy, executive chair of Strive Asset Management, told Bob Pisani on CNBC’s ‘ETF Edge’ on Monday.
Strive has launched two ETFs to push back against “woke capitalism” in the industry. The Strive 500 ETF (STRV) tracks 500 of the largest U.S. publicly traded companies. The U.S. Energy ETF (DRLL) tracks the XLE energy ETF, with Exxon Mobil (XOM), Chevron (CVX) and Conoco Phillips (COP) comprising the top holdings.
“We’ve already engaged with 10 publicly traded energy companies,” Ramaswamy said. “And that’s what I think we need more of in the boardroom: more open debate representing a more diverse set of perspectives than we heard in the boardrooms of these companies over the last several years.”...
https://www.cnbc.com/2022/10/05/profits-over-politics-the-case-for-anti-esg-etfs.html
Vivek’s companies may be small now, but they could grow very quickly once States realise what a scam ESG is.
Excellent. More states need to do the same. Ideally, states shouldn’t have pension funds. I don’t even like the idea of 401k’s. Same goes for businesses. People should take personal responsibility for their investments. That’s not done by using, or worse yet, being forced to use some proxy. When some of these underfunded state pension plans go belly up, don’t come to me as a taxpayer to bail you out. These fools that are employed by government don’t build anything. They simply get in the way of those that do. Their career choice is their choice. They need to live with the consequences of never doing jack shit with their lives.
So very stupid.
You divest with no warning, then send the letter.
Otherwise the Fink screams ‘no, no, not the Briar patch’ hedges and makes lots of money on the deal.
Every Red State needs to do this!
There are other major financial institutions doing the same as Blackrock. Hit all of them.
Loosing roughly 1 billion $$$ in one lump sum is not trivial. That will remove several billion $$$ from the pot of funds available for them to invest in via loans, etc.
This is outside my specialty but the idea is that for each $1 invested into Blackrock, they can loan out or invest say $5. Money managers have been and should be fired for loosing a client far smaller than this.
This will hit Blackrock partners (including the managing partner) right in the pocketbook. The states listed as considering similar divestment probably total towards several hundred billion $$$. That would create a big ouch.
My opinions.
signal.
Good to see some much needed pushback at the control freak nazis that want to dictate every aspect of our lives.
Black Rock has been known for some time to be a negative org
Good fot this state to divest.
The Fink is a King!
CEO Larry Fink, tells it all in a name
Good on my natal state....maybe my current home state (Texas) will follow suit.
EVERY red state needs to divest from Blackrock, Vanguard, Fleet Street, etc if it pushes ESG
AND
Ban any company, bank, etc from operating in their state at all if they push ESG.
That’s over half the country. All of these funds and banks and companies would cave immediately. They would have no choice.
Commie policies.