Posted on 10/18/2022 10:09:42 AM PDT by george76
Woke, broke, you know...the thing.
I didn’t read the article yet, but will.
ESG = Corporate Fiduciary Negligence
I hope they get sued into nonexistence over the fiduciary misconduct they have committed over their leftist ideals.
Won’t matter once the government (fascists) write some new laws that will enable this ESG crap to be forced on everyone. It’s coming.
Interesting. Maybe they aren’t as invincible as they’ve been leading people to believe.
Key quote:
“Since the beginning of the year, the firm has lost 40 percent of its market value, or approximately $55 billion.”
“We accept that our retirees will have a much lower standard of living due to reduced performance of these funds, but that is an acceptable price for social responsibility in investing. Besides, there are some fairly tasty cat foods out there if you look around.”
A Parallel, Conservative Economy Is Emerging To Compete With ‘Corporations That Hate You’..
https://freerepublic.com/focus/f-news/4101450/posts
Over in the chat forum we are talking about the coming...
Personal ESG Score
“UBS downgraded by Blackrock over poor investment analysis”.
I guess two can play at this game....
Can it be negative?
I aqm beginning to wonder if some of these companies deliberately announce they are going ‘woke’ in order to sell short and profit when their market value drops.
It’s as predictable as night follows day, and have you ever seen where the market DOES NOT take advantage of a ‘sure thing’?
Go woke, go broke.
But, it’s the people/investors/consumers who have the last laugh. People may get canceled by the woke crowd and woke companies. But, the woke people and woke corporations are getting canceled by the people.
Live and learn, but some lessons are very costly, as many of the woke are finding out.
The people are also candelling out the woke democrat policies, and come November, the cancellations will teach the woke crowd some well-deserved stinging lessons.
They know what they’re doing is not in their shareholder’s interest, which is illegal.
I’m unaware if it is legal for a corporate executive to short their own company’s stock.
Maybe someone here can chime in.
ESG means forget being a fiduciary.
Oh please make this a thing
You may be onto something. Or an alternate motivation: maybe they knew their stock prices would soon go down anyway (bull market is old, etc.) and decided to at least get brownie points from Dim control-freak regulators in the SEC for the downturn. Kind of like Warren Buffet never being regulated into the poor house because he always throws Dims a few bones (like advocating for raising taxes on the rich, etc.).
About time. Their reported policy was to deny loans to oil and gas drillers, producers, pipeline companies and refineries seeking expansion.
May they drop another 40%.
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