Posted Apr 21, 2021 by Martin Armstrong
QUESTION: Would you cut off a corporate client who is endorsing this WOKE movement?
ANSWER: Any corporation seeking to take our models while joining Schwab’s Stakeholder Corporate Activism can seek forecasting elsewhere. If Big Tech can have guidelines that justify stopping people from speaking or posting, then we too can adopt “community guidelines” because enough is enough. I have NO INTENTION of providing any assistance to any corporation that has joined Schwab in becoming a political activist. I personally think shareholders have a right to bring a lawsuit against the company and to remove all directors using corporate funds for their own political agenda. That, to me, is called FRAUD! Politics has no place in our sports any more than it does in the boardroom. Any company that allows its directors to use corporate funds to further their personal political agenda has no business in our economy.
The only time corporate activism is remotely justified is when some policy directly impacts the business of that corporation. Woke culture has nothing to do with the economy. I believe any public corporation engaged in “stakeholder economics” and political activism is at the personal decision of its directors, which is a violation of their fiduciary duty to their shareholders, and as such, should be DELISTED from any exchange! They are confiscating shareholder assets for personal use – that is illegal and FRAUD!
Tags: corporate activism, stakeholder economics