Study Debunks BlackRock Claims that ESG Funds Did Better During COVID

Larry Fink

So-called environmental, social and governance (ESG) priorities, as applied to investment principles, have seen a massive influx of cash during the COVID-19 pandemic – so much so that influential financial firm leaders have celebrated them as better performers than normal “make-a-profit” funds.

But is that really true?

Mega-firm BlackRock and CEO Larry Fink have called greater attention to ESG, beginning early in 2018 with a letter to more than 1,000 publicly traded companies urging them to elevate issues such as climate change and diversity higher in their considerations as they go about their business.

“Society is demanding that companies, both public and private, serve a social purpose,” he wrote. “To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society.”

CNBC reported earlier this month that the amount of assets in funds that follow ESG … Read More ➡

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Google Co-Founders Go Deeper in Hiding as 2020 Approaches

Larry Page & Sergey Brin/IMAGE: YouTube

Expect nothing substantive to change at Google and parent company Alphabet, following Tuesday’s announced departures of co-founders Larry Page and Sergey Brin from their roles as CEO and president, respectively, of Alphabet.

The moves made big headlines, but the pair is mostly invisible anyway, leaving Google CEO Sundar Pichai – who will now hold that title for Alphabet also – to take the frequent slings and arrows that are now regularly thrown at the companies, as he mostly already has in recent years. But in reality Page and Brin will still call the shots, thanks to their ownership of special classes of “super-voting” stock that gives them majority control.

The announcement of their moves admitted as much.

“We are deeply committed to Google and Alphabet for the long term, and will remain actively involved as Board members, shareholders and co-founders,” Page and Brin wrote. … Read More ➡

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Leftist Wayfair Employees Rant Against Sale of Beds for Illegal Immigrant Children

Wayfair employees walk through the streets of Boston in protest./IMAGE: YouTube

Leftist mobs employed by the likes of Big Tech companies like Amazon, Google and Microsoft have attempted – often successfully – to pressure their bosses to discontinue contracts with the federal government over policies they disagree with.

Examples of agencies that engage in such “odious” policies include the Department of Defense (“making war”) and Customs and Borders Protection (“putting migrant children in ‘cages’”).

The most recent example of such pressure tactics is against the online furniture retailer Wayfair, which last week was subject to an employee walk-out in Boston to protest the company’s contract to provide beds for Baptist Child and Family Services (BCFS), a nonprofit organization that operates detention centers for illegally-present migrant children in Texas. The workers objected to the $200,000 sale over the characterization of the facilities as “concentration camps” by Democrat Rep. Alexandria Ocasio-Cortez.

The … Read More ➡

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Flaherty Rips Alphabet/Google at Annual Meeting for Caving to ‘Left-Wing Mob’

Today, I presented our shareholder proposal on combatting sexual harassment at the annual meeting of Alphabet in Sunnyvale, California. The resolution was opposed by the company. The text of my remarks are below this video of my presentation:

I can’t figure out why the company opposes this proposal on sexual harassment after pledging to do all it can about sexual harassment.

Well, maybe it’s because there is not an ounce of sincerity in any of the reasons Alphabet cites. The real reason is that this company, and most of the rest of corporate America, is not governed by what is in the interests of shareholders or society as a whole

Instead, it’s is governed by what the Left-wing mob demands. Alphabet will only support initiatives that advance an agenda.

In my supporting statement, I argued that more political and ideological diversity would create a more respectful workplace. I guess that … Read More ➡

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Bezos’ ‘Hypocrisy’ Criticized at Amazon Annual Meeting on Sexual Harassment Shareholder Proposal

NLPC Chairman Peter Flaherty delivered these remarks today in support of the group’s shareholder resolution on sexual harassment at the Amazon annual meeting in Seattle:

I CAN’T FIGURE OUT WHY MR. BEZOS OPPOSES THIS RESOLUTION TO COMBAT SEXUAL HARASSMENT. AFTER ALL, HE IS THE GREAT PROGRESSIVE AND ENLIGHTENED PUBLISHER OF THE WASHINGTON POST.

MAYBE HE OPPOSES IT FOR THE SAME REASON WE FILED IT. IT ‘S REALLY ABOUT HYPOCRISY.

BEZOS CLAIMS HE IS THE VICTIM OF SEXUAL BLACKMAIL, BUT I GUESS ONLY PROGRESSIVES CAN BE BLACKMAILED.

A LEXIS NEXIS SEARCH OF THE WASHINGTON POST FOR ARTICLES CONTAINING THE NAMES “MICHAEL AVENATTI” AND “STORMY DANIELS” YIELDS 513 RESULTS. IF YOU ADD IN THE SEARCH TERM OF “BLACKMAIL,” YOU GET 24 STORIES. BUT I COULDN’T FIND ONE IN WHICH THE TERM “BLACKMAIL” WAS USED IN REFERENCE TO WHAT AVENATTI WAS DOING TO DONALD TRUMP.

TRUMP’S ELECTION TOOK MANY IN THIS ROOM BY … Read More ➡

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Democratic Candidates Line Up for Al Sharpton’s Call for Reparations

It’s hard to imagine a more ill-conceived idea than forcing one race of people to pay reparations to another race for acts occurring more than 150 years ago. Yet after decades of languishing on the margins in this country, the touchy issue of forcing whites to pay blacks reparations for slavery has taken center stage. Early this month, about 15 Democratic presidential hopefuls spoke at Manhattan’s Sheraton Times Square Hotel as part of the annual conference of Al Sharpton’s National Action Network. Coaxed by Sharpton and a partisan audience, the candidates happily obliged, oblivious to the high likelihood that a reparations program, far from repairing anything, would be a divisive, nonstop shakedown. Black “civil rights” demagogues such as Sharpton, most of all, would reap the benefits.

For decades, prominent black civil rights leaders and elected officials in this country have advocated the creation of a massive federal program to force … Read More ➡

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Google Must Embrace Sexual Harassment Shareholder Proposal in Wake of Cover-Up Allegations

Schmidt and Rubin

The revelation this week that Google made mega-payouts to two former executives accused of sexual harassment highlights the need for the adoption of a resolution by the National Legal and Policy Center (NLPC), which is a shareholder in parent company Alphabet Inc.

According to NLPC Chairman Peter Flaherty, “Alphabet’s management must end the stonewall. A necessary first step is to embrace our shareholder proposal on sexual harassment.”

According to disclosures related to a civil shareholder lawsuit that alleges Google consistently hid sexual harassment and discrimination claims by employees, former Android software creator Andy Rubin was paid $90 million upon his departure, and head of search Amit Singhal was offered $45 million when he left, although the amount was reduced to $15 million because he was hired by a competitor.

Information from the lawsuit says a former employee under Rubin claimed that he pressured her into oral sex, … Read More ➡

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Google Shareholder Files Resolution on Sexual Harassment

National Legal and Policy Center (NLPC) has submitted a shareholder proposal to Alphabet, the parent company of Google, addressing the issue of sexual harassment. Last week, Google announced that it would end its policy of requiring mandatory arbitration for sexual harassment claims. The move apparently prompted similar actions by Facebook, eBay and Airbnb.

The Alphabet annual meeting is expected to take place in June. We hope that the company will embrace our resolution to demonstrate its commitment to dealing with this problem. If the company does not support it, we call upon fellow shareholders to act.

NLPC sponsors the Corporate Integrity Project. Here is the text of the resolution and supporting statement:

WHEREAS, Company executives have aggressively allied themselves with a variety of progressive social and political causes at the same time sexual harassment is alleged to be a serious problem within the Company by many of the Company’s own … Read More ➡

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Corporations Mobilize to Attack Gender Normality

Apple CEO Tim Cook

An effort to confer special rights upon individuals who want to “decide” their gender, rather than go with the biology they were born with, was greatly energized and expanded by the Obama administration.

Now the Trump administration is attempting to return that policy to normalcy, which predictably has a number of liberal technology companies steaming.

The likes of Apple and Amazon, and 50-something other companies, have joined to sign a letter opposing plans by the Department of Health and Human Services to restore definitions of sex to remove “identity” and limit it according to the genitalia an individual is born with, for the purposes of Title IX enforcement of gender discrimination in civil rights law.

The change has implications in education, health care, employment, and just about every other walk of life.

TheNew York Times reported late last month about the draft memo being composed … Read More ➡

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Silicon Valley Has an Out-of-Control Mob Problem

Brett Kavanaugh with Facebook’s Joel Kaplan, far left in background/PHOTO: Twitter

As the midterms approach, Republicans and President Trump talk a lot about the sheer mob-bery of the outraged Left, who attack political opponents both loudly and violently, over issues such as Brett Kavanaugh’s confirmation to the Supreme Court, as well as immigration and abortion.

Driven by Rep. Maxine Waters (D-Calif.), who in June called upon fellow liberals to “create a crowd” and “push back on” political opponents anywhere they encounter them, and former Obama attorney general Eric Holder, who said to “kick them,” the Democrat base is taking it to heart, harassing Republican officials in restaurants and pounding on the doors of the Supreme Court.

Less violent, but no less aggressive and harassing, are the silent mob attacking conservatives on the Internet.

And the intolerance is greatest at the highest profile technology companies in Silicon Valley.

Public … Read More ➡

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