Chinese Companies Get Scrutiny— But Not From BlackRock

Steve Mnuchin/IMAGE: YouTube

Pressure continues to increase on Chinese corporations that are listed on American stock exchanges, to provide greater transparency about their ownership and operations.

Following the U.S. Senate’s passage (by unanimous consent) in May of the Holding Foreign Companies Accountable Act, a special panel of top government financial regulators issued a report last week that also called for tougher rules in order for “non-cooperative” foreign companies to be allowed to be listed in the United States. The goal is to provide greater protection for investors in those companies, to meet minimal audit and transparency standards so that potential risks are better understood.

The President’s Working Group on Financial Markets specifically scrutinized the risks to investors posed by the Chinese government’s failure to allow access to the books of companies listed in the U.S.  The group urged the Securities and Exchange Commission take steps to strengthen the listing standards.… Read More ➡

ESPN Exposes, Then Hides, Report on Abusive NBA Training Academies in China

Adam Silver/IMAGE: CNN via YouTube

The “woke” NBA – whose players (with few exceptions) wouldn’t stand for the Star-Spangled Banner but do stand human rights abuses in China – had a bumpy reopening last week following this year’s shutdown due to COVID-19.

So did one of its top broadcast partners, ESPN.

As Breitbart (aggregating reports from Outkick.com and The Athletic) reported on Sunday, NBA/ESPN saw its television ratings drop on Friday night following the numbers the league saw on the night of its return from dormancy on Thursday. The sports-starved American public apparently doesn’t have an appetite for millionaire athletes complaining about “systemic racism” while they kneel for the National Anthem and at the same time refuse to decry human rights abuses by the communist Chinese.

Meanwhile ESPN reported about the NBA’s involvement with a training academy in the Chinese province of Xinjiang, where millions of Uigher Muslims … Read More ➡

BlackRock Threatens U.S. Firms While Coddling Chinese Polluters

Apparently true to its word – or at least virtue-signaling a head fake in that direction – mega-investor BlackRock put some companies in its portfolio on notice that their efforts to address transparency and mitigation regarding “climate change” are insufficient.

The $6.5 trillion firm announced earlier this week in a report that it had warned 244 of those companies that they insufficiently address climate concerns, and that it had voted against resolutions and directors at 53 of them because of those shortcomings. It warned the other 191 companies they “risk voting action in 2021 if they do not make substantial progress,” according to the Financial Times.

BlackRock first announced its plans to increase scrutiny of its investments, with regard to climate, in January.

Some of the names on BlackRock’s naughty list include fossil fuel-concentrated industries like ExxonMobil, Volvo, Daimler, and coal company Peabody Energy.

“Our approach on climate issues, … Read More ➡

NBA Promotes BLM While Remaining Silent on Chinese Communists

Josh Hawley/IMAGE: C-SPAN via YouTube

The open letter on Friday by Republican Sen. Josh Hawley, to NBA Commissioner Adam Silver, exposed the hypocritical worldview of the leftists in the league and in the media.

That will likely be the best result, rather than seeing the Missouri Senator’s missive produce any meaningful change in how the league manages itself.

Hawley called out Silver and the NBA over its decision to permit its players – more than 80 percent of whom are black – to replace the names on the backs of their jerseys with messaging that for the most part fits the term “social justice.” That is, players can opine just as long as they don’t advocate for the welfare of police officers. Or for victims of Chinese oppression.

The NBA limited the messages players could display to a handful. Needless to say, none expressed support for anything other than … Read More ➡

Senators Turn Up the Heat on BlackRock Over China Investments

Kevin Cramer/PHOTO: Gage Skidmore (CC)

Following an effort by National Legal and Policy Center to urge the world’s largest investment firm to divest its customers’ money from 137 companies based in communist China, two Senators have also turned up the pressure.

In a letter dated Monday, Republican Sens. Martha McSally and Kevin Cramer – of Arizona and North Dakota, respectively – asked BlackRock CEO Larry Fink to explain apparent inconsistencies in the company’s approach to managing its funds. Specifically, the senators wanted to know why BlackRock’s U.S. investments are held to a higher standard as it pertains to appeasing activist investors with a progressive agenda, as opposed to its holdings in foreign companies that do not comply with minimal legal and auditing standards.

Fink has led his firm into the decision-making of the U.S. companies where BlackRock has its investments, voting “on 18,758 shareholder proposals and participated in 2,269 shareholder … Read More ➡

Wall Street Journal Letter: Poor Larry Fink

The Wall Street Journal today published this letter from NLPC Chairman Peter Flaherty:

Pity the situation of BlackRock CEO Larry Fink, who finds himself being mau-maued by green activists at his annual stockholder meeting for not doing enough to disinvest from fossil-fuel companies.

One way he can expiate his sins is to disinvest in the 153 China-owned or controlled companies as our organization recently called on him to do. Besides covering up the pandemic spread in Wuhan, Communist China is a major human-rights abuser, “re-educating” Muslim Uighurs in prison camps, conducting digital surveillance of its citizens and cracking down on pro-democracy protesters in Hong Kong.

Apparently, neither Mr. Fink’s idea of moral and socially responsible investing nor that of his so-called “progressive” critics takes into account these human-rights issues. The sixth circle of Dante’s hell punishes hypocrisy.

Read More ➡

Watchdog Asks Feds to Investigate University, Biden Center for Millions in Anonymous China Donations

From Just the News by Daniel Payne:

A watchdog group is asking the U.S. Education Department to investigate the University of Pennsylvania and its Biden Center, a diplomacy and global engagement initiative named after the Democratic presidential candidate, for accepting millions of dollars in anonymous funds from Chinese donors.

The complaint, filed by the National Legal and Policy Center, says that over the past three years, the university has accepted around $22 million in anonymous funding from Chinese sources. That’s out of a total of more than $70 million from Chinese donors during that time, the NLPC said. 

Those significant funds, including the anonymous amounts, rolled in after the Biden Center was announced in early 2017 and launched in February 2018. The center is located in downtown Washington, D.C. 

Click here to read the rest on Just the News.… Read More ➡

One America News: Paul Kamenar on Biden Center’s Undisclosed China Donations

One America News’ John Hines interviews Paul Kamenar, Counsel for the National Legal and Policy Center (NLPC), which filed a Complaint with the Department of Education alleging the University of Pennsylvania and the Biden Center failed to disclose millions of dollars of anonymous donations from China, as required by law.… Read More ➡

Government Watchdog Raises Questions About Chinese Influence at University of Pennsylvania’s Biden Center

From the Washington Free Beacon by Alana Goodman:

When Joe Biden announced he was opening a foreign policy center at the University of Pennsylvania, the goals for the project were ambitious.
At its founding in 2018, Biden described the Penn Biden Center for Diplomacy and Global Engagement as “a place where policymakers here and abroad will know they can be in touch with some of the best minds.”

The center is one of several organizations Biden founded since leaving the White House in 2017, including the domestic policy-focused Biden Institute at the University of Delaware and the Biden Cancer Initiative, all launched in 2017. All three entities have refused to reveal the sources of their funding, a potential landmine for the Democrats’ presumptive presidential nominee that raises questions about the influence of individual, corporate, and foreign donations on the presidential candidate.

The lack of transparency has drawn the attention of … Read More ➡

Complaint Filed Against University of Pennsylvania and Biden Center for Undisclosed China Mega-Donations

National Legal and Policy Center (NLPC), a nonprofit public interest organization, filed a complaint with the Department of Education requesting that it conduct a full investigation into the University of Pennsylvania’s failure to disclose the source of millions of dollars of donations from China since 2013 to the university and its Biden Center for Diplomacy and Global Engagement as required by law.

Since 2017 alone, when the Biden Center opened and after Joe Biden announced he was running for President in April 2018, the university received over $70 million from China, of which $22 million were listed as “Anonymous.”  Federal law requires the disclosure of the source of all donations over $250,000.  The complaint also requests referral to the Department of Justice to file an enforcement action seeking compliance and to recoup all the costs of the investigation.

The complaint notes that the Biden Center co-sponsored the 2020 Penn China Read More ➡