Great job. Huzzah! Love the MSNBC segment. Hope this leads to more PI subscribers and more video exposure. Would like you heard as a household name, Judd Legum.
As for the corporations squirming and the shareholders holding them accountable. Nuk, nuk nuk, score one for the shareholders. The fact the corporations are opposing the resolutions tells us all we need to know. Look forward to hearing what happens next!
Amazing per usual. The only reason these firms don't want to do this is because they won't be able to double dip like they currently are. Say the right thing publicly and then do the opposite behind closed doors. These reports would eliminate this behavior so of course the corporations are opposed to it. Stay on top of these corporations and make them put their money where their mouth is, literally. You are an amazing journalist, Judd. Keep fighting the good fight!
When it comes to democracy, voting and the constitution, WE ARE ALL SHAREHOLDERS that deserve total disclosure. I have called cell providers this week to complain about their participation in supporting the Big Lie. Verizon, AT&T and T-Mobile reps assured me that they do not support insurrection or the people who killed the four on Jan 6. I assured them they were instructed to lie. When they read scripts denying this very concern, it's real. Don't leave it all to Judd. Call and complain. Write, move your business elsewhere, stay on the phone with them until they hear you, escalate, pester, demand democracy and defend it.
As powerful as today's shareholders, Vanguard and Black Rock are,-- it is not enough. As one of my friends wrote to me when I shared:
I didn’t realize the timing of the Powell memo. The timing makes it even more clear that Friedman’s essay wasn’t rooted in a lick of empirical economic research or in the law. It was pure political ideology. And the Powell memo lays out the grand, well-coordinated ideological project. Of course, he was rewarded for his vision- Nixon appointed him to the Supreme Court a few years later!
Powell’s project was explicit in seeking to unshackle business from accountability- to neuter the power of unions, consumer advocates, and any unaligned academics. It was explicit in wanting companies to STOP listening and responding to stakeholder or societal critiques. (Powell was on the Board at Phillip Morris after all.)
I’m also struck now by how directly this grand project also shaped the Supreme Court. I just read yesterday that since 1969 Republican Presidents have appointed 14 justices and Dem Presidents have appointed 4--- Trump alone will appoint 3. All of those Republican appointees have been staunchly anti-regulation and that’s a testament to the discipline of the Party staying true to the Powell memo.
Great work Judd! I bet the folks doing the secret backpedaling thought all of the hubbub about donations would just die down and it would all go back to business as usual. Don’t let it. And let us know how to help. The Koch’s and friends took years to set up all of those opaque organizations-one by one. We could undo a lot if it with a targeted legal/regulatory action. Keep us riled up so we can help keep an eye on things.
If the input of the shareholders doesn't compel these corporations to act in the interest of American democracy or, at the bare minimum, disclose its political expenditures, I don't know what will.
Are there ways as a customer to support Vanguard? I was actually surprised you reported they supported some of these shareholder led accountability measures. They are so neutral in so many ways. I would like to let them know that I think that is good policy. That hidden money is corrupt and anti-competitive. It undermines our democracy -- but also our economy.
Great article and thank you for covering this activity. One thing to note, however: these proposals aren't just influential if they get a majority vote. Companies take them seriously below that level, and frequently make changes to their policies or behavior in response to them.
How successful has it been to have police policing themselves? It’s been a TOTAL FAILURE and corporate transparency will be too as long as we leave it up to corporations and shareholders to make the decisions ie: ‘police themselves’ which, in my humble opinion, is an oxymoron. There must be laws in place regarding this. Better yet; stop allowing any corporate money to buy our politicians and start using our individual taxpayer dollars to pay for it. We could cap spending, put a stop to the long drawn out process and limit the time period of running to 4-6 months, and, best of all, elect people who actually represent us as in ‘we the people’ instead of corporate America!!
These proposals don't hurt the cause of regulation; they ultimately help it. Because of the nearly 2-decade campaign that has led hundreds of companies to disclose more information about their political spending, the SEC is considering a rule that requires it. Maddeningly slow? Yes. But does Congress move any faster? It's fruitless to pit one tactic against another.
Great job. Huzzah! Love the MSNBC segment. Hope this leads to more PI subscribers and more video exposure. Would like you heard as a household name, Judd Legum.
As for the corporations squirming and the shareholders holding them accountable. Nuk, nuk nuk, score one for the shareholders. The fact the corporations are opposing the resolutions tells us all we need to know. Look forward to hearing what happens next!
Amazing per usual. The only reason these firms don't want to do this is because they won't be able to double dip like they currently are. Say the right thing publicly and then do the opposite behind closed doors. These reports would eliminate this behavior so of course the corporations are opposed to it. Stay on top of these corporations and make them put their money where their mouth is, literally. You are an amazing journalist, Judd. Keep fighting the good fight!
When it comes to democracy, voting and the constitution, WE ARE ALL SHAREHOLDERS that deserve total disclosure. I have called cell providers this week to complain about their participation in supporting the Big Lie. Verizon, AT&T and T-Mobile reps assured me that they do not support insurrection or the people who killed the four on Jan 6. I assured them they were instructed to lie. When they read scripts denying this very concern, it's real. Don't leave it all to Judd. Call and complain. Write, move your business elsewhere, stay on the phone with them until they hear you, escalate, pester, demand democracy and defend it.
Hey Judd, Never forget the "Powell " memo" and the continuing opaque influence of the Chamber of Commerce and the BRT
https://static1.squarespace.com/static/58894b38ebbd1a2ab75adbe2/t/588cd57dd482e988fc008e79/1485624704579/Lewis-Powell-Memo.pdf
As powerful as today's shareholders, Vanguard and Black Rock are,-- it is not enough. As one of my friends wrote to me when I shared:
I didn’t realize the timing of the Powell memo. The timing makes it even more clear that Friedman’s essay wasn’t rooted in a lick of empirical economic research or in the law. It was pure political ideology. And the Powell memo lays out the grand, well-coordinated ideological project. Of course, he was rewarded for his vision- Nixon appointed him to the Supreme Court a few years later!
Powell’s project was explicit in seeking to unshackle business from accountability- to neuter the power of unions, consumer advocates, and any unaligned academics. It was explicit in wanting companies to STOP listening and responding to stakeholder or societal critiques. (Powell was on the Board at Phillip Morris after all.)
I’m also struck now by how directly this grand project also shaped the Supreme Court. I just read yesterday that since 1969 Republican Presidents have appointed 14 justices and Dem Presidents have appointed 4--- Trump alone will appoint 3. All of those Republican appointees have been staunchly anti-regulation and that’s a testament to the discipline of the Party staying true to the Powell memo.
Great work Judd! I bet the folks doing the secret backpedaling thought all of the hubbub about donations would just die down and it would all go back to business as usual. Don’t let it. And let us know how to help. The Koch’s and friends took years to set up all of those opaque organizations-one by one. We could undo a lot if it with a targeted legal/regulatory action. Keep us riled up so we can help keep an eye on things.
If the input of the shareholders doesn't compel these corporations to act in the interest of American democracy or, at the bare minimum, disclose its political expenditures, I don't know what will.
Are there ways as a customer to support Vanguard? I was actually surprised you reported they supported some of these shareholder led accountability measures. They are so neutral in so many ways. I would like to let them know that I think that is good policy. That hidden money is corrupt and anti-competitive. It undermines our democracy -- but also our economy.
Thanks for keeping on this. What. Kind of pressure can be brought against Blackrock and Vanguard? They are so big they will ignore you.
Great article and thank you for covering this activity. One thing to note, however: these proposals aren't just influential if they get a majority vote. Companies take them seriously below that level, and frequently make changes to their policies or behavior in response to them.
How successful has it been to have police policing themselves? It’s been a TOTAL FAILURE and corporate transparency will be too as long as we leave it up to corporations and shareholders to make the decisions ie: ‘police themselves’ which, in my humble opinion, is an oxymoron. There must be laws in place regarding this. Better yet; stop allowing any corporate money to buy our politicians and start using our individual taxpayer dollars to pay for it. We could cap spending, put a stop to the long drawn out process and limit the time period of running to 4-6 months, and, best of all, elect people who actually represent us as in ‘we the people’ instead of corporate America!!
These proposals don't hurt the cause of regulation; they ultimately help it. Because of the nearly 2-decade campaign that has led hundreds of companies to disclose more information about their political spending, the SEC is considering a rule that requires it. Maddeningly slow? Yes. But does Congress move any faster? It's fruitless to pit one tactic against another.