CEOLarry Fink is escalating his leftist political agenda influence, exerted through his mega-investment firm BlackRock, to outright intimidation.
It began gently almost three years ago, with Fink urging several corporate CEOs in a letter to make “a positive contribution to society” beyond generating profit for shareholders, to “serve a social purpose.” The initiatives pressed most urgently addressed climate change risk and disclosure, and diversity initiatives.
The tone has gone from pleadings to threats, as outlined in BlackRock’s “2021 Stewardship Expectations,” issued a couple of weeks ago in advance of corporate annual meetings that will be held in the coming months. As reported by investment equity law firm Ropes & Gray, BlackRock has intensified its demands in pursuit of compliance with its priorities.
Among BlackRock’s plans:
“Broadening the universe of focus companies – from 440 to more than 1,000 – that it
As reports increased this year that China has greatly expanded its facilities that detain and utilize Uighurs as slave labor, new evidence indicates a key supplier for Apple Inc. is using transferred workers from among the Muslim minority ethnic group.
In an article published Tuesday by the Washington Post, the Tech Transparency Project revealed documents that indicate the Chinese government is transporting involuntary laborers from the region of Xinjiang – where Uighurs have been reportedly abused and undergo “re-education” to learn fealty to the communists – to a Lens Technology factory in Hunan, in central China.
The company has long manufactured cover glass for Apple’s iPhone.
Tech Transparency Project, a left-leaning nonprofit watchdog of the major Silicon Valley technology companies, based its findings in part on evidence deciphered from propaganda in Chinese media. Darren Byler, a research anthropologist … Read More ➡
Not exactly the favorite social media platform of liberals – who think Facebook has granted President Donald Trump and his supporters too much liberty on the site to spread “misinformation,” “hate speech” and non-“expert” (think Anthony Fauci) opinions – Zuckerberg feels he has some making up to do with the Democrats he expects to be in power starting in 2021.
It wasn’t known at the time what influence Apple hoped to exert on the shaping of the bill, but considering the company’s extensive use of Chinese labor to assemble its products and their parts, the suspicion was that it hoped to ease any restrictions and penalties.
Now, two anonymous Congressional sources cited by the Washington Post say that Apple does want the legislation watered down.
The Act seeks to force companies to ensure that they or their suppliers do not use coerced labor from the persecuted Muslim Uyghurs in the Xinjiang region of China. The people group has reportedly been subjected to persecution, … Read More ➡
ShouldJoe Biden end up being the next President of the United States, former Alphabet (parent company of Google) CEO and Chairman Eric Schmidt has been talked about the most as his top advisor for tech issues.
The Financial Times reported last week that Biden is looking to the big names in Silicon Valley to create an in-White-House tech task force, led by Schmidt. The article said Biden has already hired away top executives from Apple and Facebook for his prospective transition team. And according to CBS News, his political team is advised by executives with tech firms formed by Schmidt and LinkedIn founder Reid Hoffman, both mega-donors for Biden’s election efforts.
Some far-leftists apparently held out hope that Biden might gravitate towards the Elizabeth Warren “break up Big Tech” perspective and embrace more big government regulation, especially after he approved an October … Read More ➡
Following a complaint filed by National Legal and Policy Center with the Department of Justice that demanded an investigation of the son and brother of Democrat presidential nominee Joe Biden, the Chairman of the Senate Finance Committee has made a similar request.
Sen. Charles Grassley, an Iowa Republican, wrote a detailed, seven-page letter to Attorney General William Barr on Monday, urging him to probe Hunter Biden and James Biden – the son and brother of the former vice president, respectively – about deals they cut with a state-owned Chinese energy company and their representation of foreign actors in the United States.
The inquiry focuses on the Bidens’ work with CEFC China Energy Co. Ltd., which Grassley accurately characterized as “an extension of the Chinese government.” He asked Barr to investigate whether the Bidens violated the Foreign Agents Registration Act by failing to notify the Justice Department … Read More ➡
Also indisputable is that Congress will be powerless to alter their behavior, with at least another two years of guaranteed gridlock preventing the removal of Big Tech’s exemption under Section 230 of the Communications Decency Act, which says the online companies are like telecoms AT&T and Verizon (meaning they are protected from litigation) rather than news producers like the New York Times and Fox News (not protected from litigation).
Sure, you can expect more hearings like the one before the Senate Commerce Committee the week before Election Day, in which CEOs Mark Zuckerberg (Facebook), Sundar Pichai (Google) and Jack Dorsey (Twitter) were berated about their corporate underlings’ bias and censorship.
But it was just a repeat of previous Congressional theatrics: a lot of noise, and no action.… Read More ➡
Whether the company is for or against the legislation is not known.
The bill has 88 co-sponsors, from Democrat “Squad” Congresswomen Ilhan Omar (Minn.) and Rashida Tlaib (Mich.) on the far left, to conservative House Freedom Caucus members Mark Meadows (a former Representative from NC, now President Trump’s chief of staff) and Jody Hice (Ga.) on the right.
The legislation seeks to ensure that goods manufactured in the Xinjiang region of China, where hundreds of thousands of minority Muslim Uyghurs are persecuted and forced to work “at a fraction of minimum wage or without any compensation,” do not enter the United States market.
BlackRock and CEO Larry Fink just got permission in August from regulators in China to start a mutual fund business there, a next step in the firm’s ever-expanding portfolio of investment activity with the communist nation.
Biden might like the China-enthusiast Fink for the role, since the former vice president was recently implicated as a potential beneficiary of investment in a scheme cooked up by his son Hunter and his business partners with now-bankrupt CEFC China Energy. A 2017 email – captured in a now-famous laptop computer left and ignored by Hunter Biden at a Delaware computer repair shop, and then turned over … Read More ➡
The Los Angeles Lakers last night became champions of the virus-altered 2019-2020 basketball season; the NBA has purged itself of the portion of its audience it has accused of “systemic racism;” and the communist government is again allowing its games to be broadcast in China.
So life is good for the Lakers and its superstar LeBron James, the face of the league. He got everything he wanted.
James took a lot of criticism this year for his outspokenness on racial justice issues, following the deaths of blacks Ahmaud Arbery, George Floyd, Breonna Taylor and Jacob Blake in situations he believes were maliciously botched by police. He – and most of his NBA colleagues, including Commissioner Adam Silver – blamed a law enforcement system and its officers they believe are hopelessly racist, regardless of what the facts behind high-profile cases have revealed. So they painted “Black Lives … Read More ➡