Rubio Targets Woke Corporations

Haven’t read through how they intend to *REACH* this goal, but I do like the idea of “but it sounds nice” not being a free pass to avoid the legal responsibilities to properly care for the financial responsibilities. Directly donating company cash to a favored group wouldn’t be allowed; damaging value to support them shouldn’t, either.

That said, I can easily see ways to screw this up….

Pierced Hearts

Mystic Monk Coffee

Fairfax, Va.-U.S. Senator Marco Rubio (R-FL) introduced theMind Your Own Business Act, which would enable shareholders to hold woke corporations accountable.

Americans for Limited Government President Richard Manning issued the following statement in support of the measure:

“Woke corporations seem to be jumping over each other to prove who is willing to give more money or change corporate direction to accommodate a loud group of far left activists who are characterized as ‘stakeholders.’ Senator Marco Rubio has introduced legislation which would require these corporations to justify these actions based upon the fiduciary responsibility they have to shareholders (who actually are the owners of the company and have an expectation that profit will be the primary focus).

“Americans for Limited Government strongly supports Senator Rubio’s leadership on this important issue. Pensioners, those who hope to retire someday and other investors have a right to expect…

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Author: Foxfier

Former sailor, current geek, conservative, mother and practicing Catholic. Refugee from the Seattle blob. (No, we DIDN'T vote for those taxes!) Elf is my husband, our kids are Princess, Duchess, Baron, Empress, Chief, and Contessa.

4 thoughts on “Rubio Targets Woke Corporations”

  1. Agree completely…a good idea that will be extremely easy to fumble. It should be interesting to watch the progress, or lack thereof.
    You may recall from some of my comments on another blog we both frequent that I am a survivor of the corporate world, having spent over 30 years in the law department of a Fortune 20 company. What I saw before I retired in 2014, (and all of it has gotten worse since then), was a general tendency to worry far more about negative publicity–i.e., those “stakeholders”– than about shareholder returns. It has gotten so bad now that they are actually planning to cut their dividend for the first time in company history, but there are no plans to change “woke” behavior in their HR or PR departments, according to my sources still imprisoned there. This cannot end well for the employees and shareholders.

    1. Oh, that is terrible– yeah, they’re cutting their own throats…but it’s going to be heck on the innocent folks who THOUGHT they were purchasing a reasonably responsible product, not rat-hole-pouring virtue signals.

  2. I’m not inclined to trust that any current GOP officeholder won’t deliberately screw up something that sounds good.

    I’m also skeptical of regulation, skeptical that addressing the actual problems would be easy, and skeptical of trusting any measure that would operate via the formal legal system.

    OTOH, this last implies that there isn’t anything else I would want Rubio to be doing with his own time, and he is closer to most of his business than I am.

    So I’m complaining about something that could be an example of what I’ve been saying should and will happen.

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